| The Merriam-Webster Online Dictionary defines | | | | accounts receivable financing is transparent to the |
| "secret" as: | | | | ultimate customer. |
| "1 a: kept from knowledge or view : hidden b: | | | | The third secret- "designed to elude observation |
| marked by the habit of discretion : closemouthed | | | | or detection" has to do with your business plan |
| c: working with hidden aims or methods : | | | | and how the way you think about the world can |
| undercover d: not acknowledged : unavowed e: | | | | affect your success. In 2006 Prime Time |
| conducted in secret 2: remote from human | | | | Productions produced a film and a book called |
| frequentation or notice : 3: revealed only to the | | | | "The Secret". The film dramatically describes the |
| initiated : esoteric 4: designed to elude observation | | | | "Law of Attraction" which asserts that people's |
| or detection 5: containing information whose | | | | feelings and thoughts attract real events in the |
| unauthorized disclosure could endanger national | | | | world into their lives. Can your feelings and |
| security". | | | | thoughts attract more business and success? Is |
| As used in this article, secret means: revealed | | | | the visualization of what you want an aid for |
| only to the initiated; kept from knowledge or | | | | manifesting your business goals? Is The Secret |
| view; and designed to elude observation or | | | | "just a new spin on the very old (and decidedly |
| detection. | | | | not secret" The Power of Positive Thinking (a |
| The first secret- "revealed only to the initiated" | | | | book by Norman Vincent Peal written in 1952) |
| relates to the fact that most schools, even | | | | wedded to 'ask and you shall receive' -as opined |
| business schools, do not teach the subject of | | | | by Karin Klein, editorial writer for the Los Angeles |
| factoring or purchase order financing; most banks | | | | Times? Did The Secret fail to discover the real |
| do not offer these financing facilities as products. | | | | roots of powerful thinking? |
| Therefore, it is not surprising that many | | | | In the book, "The Diamond Cutter", Geshe Michael |
| businesses are unaware of the cash potential that | | | | Roach examines The Budda on Managing your |
| lays dormant in their business invoices. | | | | Business and your Life. Roach graduated from |
| Let's suppose you own a small to medium | | | | Princeton University with honors, studied the |
| business and you depend on customers paying | | | | ancient wisdom of Tibet and traveled to the |
| invoices within a 45-60 day period for your | | | | Tibetan Lamas at the seat of His Holiness, the |
| working capital. In essence, you are extending | | | | Dalai Lama. In 1983 he took the vows of a |
| credit like a bank to your customers. For that | | | | Buddhist monk. |
| period of time your cash is tied up in your | | | | His teacher encouraged him to enter the world of |
| invoices- your accounts receivable. This limits | | | | business. Mr. Roach choose the diamond business. |
| growth and may create problems regarding | | | | He hid the fact that he was a monk and |
| meeting payroll and paying your suppliers. | | | | maintained a façade of a normal American |
| Accounts receivable financing is the process of | | | | businessman on the outside. The business |
| selling your invoices for cash as soon as they are | | | | developed from nothing to a one hundred million |
| issued which allows you to make more effective | | | | dollar per year business. |
| use of your assets. Purchase order financing is | | | | The original book, "The Diamond Cutter" is the |
| the process of obtaining a third party | | | | "oldest dated book in the world that was printed |
| commitment to pay your suppliers as soon as | | | | rather than being written out by hand. The British |
| products are received by your clients (in advance | | | | Museum holds a copy that is dated A.D 868." It is |
| of payment by you or your client), based on the | | | | a written record of Buddha teachings from over |
| surety of an accounts receivable financing | | | | 2,500 years ago. In brief, the central principles are: |
| arrangement. | | | | 1) business should be successful and make money |
| All businesses are limited in their growth and | | | | in a clean and honest way; 2) you should enjoy |
| profits by the amount of capital and cash flow | | | | the money and stay in good health; and 3) you |
| available to take advantage of business | | | | should be able to look back ay your business and |
| opportunities. The availability of virtually unlimited | | | | say your years of doing business had some |
| cash creates a powerful paradigm for potential | | | | meaning leaving some good marks in the world. I |
| growth. It also can expand your thinking about | | | | highly recommend "The Diamond Cutter" vs. "The |
| what business is possible and how you might go | | | | Secret". |
| out and develop new business. | | | | The bottom line: accounts receivable financing and |
| The second secret- "kept from knowledge or | | | | purchase order financing may be the secrets to |
| view" relates to the practice of non-notification | | | | your business' financial success. If you read and |
| factoring. Some business people are concerned | | | | follow the principles of "The Diamond Cutter" you |
| that working with a factor, an accounts receivable | | | | can expand your opportunities for exponential |
| financing company, may not be viewed favorably | | | | growth based on the 2500 year old teachings of |
| by their customers. In many cases it is possible to | | | | Buddha, as explained by Mr. Roach. |
| structure a transaction legally so that the | | | | |