...When opportunity knocks

It is my firm belief that if it looks too good to be true, it usually is. The latin term that sums up my skepticism is "Caveat Emptor" which translates as "Let the buyer beware". Now this does not only apply to purchases. Tonight, I want to talk about all those get rich quick "opportunities" that are knocking down doors looking for the next sucker. That's right I said "sucker"! I have watched so many of my friends and family dive into so many different get rich quick schemes with minimum success. The only thing that they have in common is that they lost more money than they earned. I've seen everything from cosmetics, water filter businesses (I did that one), vending machines, flipping houses, time shares, and the list goes on. By the way, your personal time is worth a dollar amount and if you've invested you are involved in a get rich "opportunity" that requires both, you may consider doing the math. That being said, here are a few tips to consider before you unload your hard earned money into one of those "opportunities" that comes knocking at your door.

Rule #1: If someone approaches you with any opportunity that requires you to spend your money, run do not walk to the nearest exit.

Rule #2: By the time the masses find out about these secret "opportunities" the only person getting paid is the person selling it to you.

Rule #3: If "opportunity" knocks on your door, calls you on the phone or emails you, RUN do not walk to the nearest exit! Think about it, are there really people out there looking for you to give you money. Not likely as they are looking for the next sucker.

There are some real opportunities in this world. The people who are best prepared to "meet" those opportunities will have the most success. I was riding down a street one evening and saw a sign that said "Luck is being prepared for the opportunity." It made a lot of sense.

A good opportunity is one that you have prepared yourself for and instead of it knocking on your door you will most likely find it while searching for it or meet it halfway. For example, you can't win the lottery if YOU don't play the ticket. The greatest rewards often come from the greatest risks. So that "safe" investment opportunity that everyone knows about even though it's labeled as a "secret" will in many cases not give you enough of a return on your investment to make it worthwhile.

Taking a calculated risk means doing your homework. That means spending time researching and gathering information from numerous sources. Don't be lazy and rely on the words of that co-worker who always has lots of opinions. Formulate your own opinions by doing your homework. Consider where you are getting your information from and who is providing it. When looking for a good investment, look for the thing or idea that is not currently in the mainstream. In the event that you are approached with this type of opportunity, spend time researching the supply and demand aspects and the marketability of the opportunity. For example, if the folks at HP had recognized the potential in the Apple computer when Steve Wozniak presented it to them, all of our lives might be a little different today. Good luck folks and if you do uncover the next Apple or Starbucks, etc. Please let me know! I might not open my door, but I will do my homework and see you at the bank.