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