All posts by Streetwise

It’s Okay To Be Different!

The words ‘eccentric’ and ‘millionaire’ seem to be almost inextricably linked in the popular psyche. I’m not sure where it all started – maybe it was with the reclusive Howard Hughes, or the money-conscious John Paul Getty I – but the tag has stuck.

Anyone with a few quid in the bank and a liking for stripy trousers automatically inherits the label. And the implication is often less than flattering – that the person may be rich, but they’re not quite normal. Well of course they aren’t!

Here’s how Webster’s Dictionary defines the word eccentric:

“Deviating from an established or usual pattern or style.”

Of course millionaires deviate from an established or usual pattern or style! This is an essential pre-requisite to achieving anything worthwhile– not just making a lot of money. Why? Because to bring about extraordinary results requires extraordinary actions.

What do you think happens if you conform to an established or usual pattern or style? That’s right – you get a normal or usual result. And a normal, more ordinary, result doesn’t lead to great achievement. If it did, we’d all be great achievers.

Do you have a tendency to conform and follow the crowd? If you do, you’re far from alone (there wouldn’t be a crowd otherwise!) and in all likelihood, it’s a hangover from your childhood.

Before we’re out of nappies, we’re already being indoctrinated to believe that there is a ‘right way’ to do everything. We are led to believe that among the many ‘wrong’ ways of doing something there is just one right way.

Of course, when you’re a kid it makes a lot of sense. The world is a new and complicated place. The last thing you need is 12 different options for holding a spoon! And so we learn one way, and that’s the right way.

When we start school, the same process continues. One way to write, one way to read, one way to add up, one way to sit, one way to queue for lunch, one way to hold hands with your partner on the odd outing from school.

One way for everything and one way for everyone. And so it goes on. Every schoolbook we ever read told us the right way to do things. Rarely were we given a choice or options. “This is how it’s done and this is how we’ll all do it, ”they seem to say.


Is it any wonder then, that by the time we approach adulthood this whole idea has become firmly embedded? There’s a right way to do things, and it’s the only acceptable way. To succeed, you have to do things that particular way. Take any other path and you’ll fail. The ultimate conclusion, of course, is that there’s one way to think.

This ‘one right way,’ middle-of-the-road approach keeps most people safe. They are safe from harm, reasonably competent in what they do, and importantly for the rest of us, comfortable to be around. We know what they’re going to do and when they’re going to do it. There are no surprises, nasty or otherwise.

However, as an approach geared to maximising individual potential it’s extremely flawed. While conventional wisdom, the ‘right’ approach is usually safe, it isn’t necessarily correct. Follow it and the result will inevitably be mediocre. Why? Because everyone else will be doing the same thing. Follow them and you’ll get the same result. Mediocre, middle of the road and very average.

Most successful people not only behave differently to the norm, they also think laterally, outside the box. And that is what separates them from the herd. So remember – whatever path you choose there is no one ‘right ’way – there are a number of ways that work. Your task is to find the one that suits you best, not the one someone else says you should take. To borrow a popular phrase, dare to be different.

Kind Regards

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John Harrison  

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Sources of Funds

Of all the reasons I hear for people not following through with a business idea, a lack of funds comes right at the top of the list. There are always options though. Here are a few to consider:

Get a business partner with funds to invest. There are plenty of people out there with money but no ideas for investing it.

  1. Investigate government initiatives. The government offer numerous financial incentives to entrepreneurs. There could very easily be something in your area, sector or situation.

  2. Try Crowdfunding. Very easy to try out online and there have been some major success stories. Yours could be next.

  3. Charge Up front. Insist on your customers paying in advance for your product or service. Not always possible, but it will depend on the market.

  4. Keep your job. Working part time on your idea while retaining your job is tough, but it can provide funds for that difficult start up period.

  5. Strike a deal with suppliers. If you can get your suppliers to give credit, it will help get over the initial cash-flow problem. They will only do this if they expect you to become a significant customer though.

  6. Get a loan. Family is probably the best place to start with this.

Quote Of The Day

“Failure defeats losers, failure inspires winners.”

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 Robert T. Kiyosaki

Alternative Quote Of The Day

“I don’t need you to remind me of my age; I have a bladder to do that for me.”

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Stephen Fry


It’s Been A Good Month For…

Tim Cook – The Apple boss has upped his net worth to $1bn. Although Cook did not found Apple, since 2011 he has helped grow the tech company to a market capitalisation of over $2trn.

MacKenzie Scott – Philanthropist, author, and ex-wife of Amazon boss Jeff Bezos, MacKenzie Scott became the wealthiest woman in the world last month. Her net worth rose to $68bn after she received a quarter of Bezos’s Amazon shares as part of their divorce settlement in 2019. Back then, they were worth a mere $35bn.

Diamonds Lovers – Petra Diamonds has unearthed five big high-quality blue diamonds from a South African mine that yielded two Crown Jewel sparklers a century ago. Finds of such top-notch blue diamonds are too rare for even statisticians to value.

IT’S BEEN A BAD MONTH FOR …

Art Forgers – Spanish police seized four fake Modigliani paintings that an auction house was trying to sell for £8m. The fakes disappeared 52 years ago, but resurfaced recently and were passed off as originals. Modigliani is deemed by experts to be among the most forged artists.

Wetherspoons – Brexit-loving pub brand Wetherspoons is ruing the government’s rules, with the Rule of Six and orders to close at ten pm hammering the cut prize boozer. Even before the new measures came into effect, sales were down a hefty 22.5 per cent on last year. Wetherspoons is likely to continue to underperform until the pandemic truly ends.

Novak Djokovic – The tennis player’s meltdown at the US Open — where he was disqualified and handed two fines after thwacking a ball at a line judge — cost him $17,500, plus technically a loss of $250,000 if he had won the game and advanced. Djokovic won’t be rueing his temper too much though, his career earnings top $143m, and he was the highest-paid athlete on Forbes 2020 rich list.

Yusaku Maezawa – The Japanese billionaire lost £32m attempting to day trade stocks. He later admitted that he hadn’t sufficiently familiarised himself with day trading.

Today’s National Day

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NATIONAL JOB ACTION DAY!

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You Can Do It – Probably!

Henry Ford once said: “Whether you think you can, or you think you can’t – you’re right. ”There’s a great deal of truth in that, but it has to be tempered a little if you’re to avoid chasing pipe dreams.

If someone of similar background and abilities has already done what you hope to achieve, then, of course, you know you can do it. That’s why finding appropriate mentors and role models is important – more about that elsewhere. But, if it hasn’t been done already, the jury is out and you have to make an appraisal of whether what you want to do is realistic.

It would be wrong to talk down your prospects here – you are capable of far more than you can imagine – but as anyone who has ever watched a TV talent show will testify, there are far too many people chasing ‘goals ’which will never come to fruition.


In truth, there are very few areas where talent puts in place an immovable barrier – entertainment, sports and music spring readily to mind – but unfortunately these are the areas where unrealistic aspirations tend to flourish. The good news though, is that very few career or business paths require innate talent or skills that a determined and motivated person can’t learn. Though, as Henry Ford recognised, even the most realistic goals will wither in the face of a lack of belief.

Kind Regards

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John Harrison  

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Gobbling Profits

Global investors are showing greater interest in alternative proteins, such as plant-based substitutes and lab-grown meat, as the climate impact of agriculture and food production comes under the spotlight.

Environmental experts have started to highlight the impact of agriculture, especially the intensive livestock sector, on rising greenhouse gas emissions as well as land and water use and deforestation. The world’s food system, including agriculture and land use, accounted for 25 to 30 per cent of emissions from 2007 to 2016.

The good news is that new food technologies are emerging and becoming profitable. These disruptive technologies are starting to have an impact on the world and on portfolios, from meaty meat-free burgers to sustainable livestock management and organic growing.

The successful flotation of plant-based meat substitute group Beyond Meat earlier this year has also highlighted investment opportunities in alternative proteins as a way for food companies to be part of the solution. Plant-based proteins, including meat and dairy, are also seeing high demand from consumers, partly for health but also because many environmental specialists believe a change in diets can mitigate the effects of greenhouse gas emissions. Analysts forecast that alternative proteins are not just a fad.

Quote Of The Day

“To win without risk is to triumph without glory”

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     Pierre Corneille 

Alternative Quote Of The Day

“I took the wife’s family out for tea and biscuits.They weren’t too happy about having to give blood though.”

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Les Dawson


Aquaculture, precision farming, and food-testing technologies are all areas to watch. Urban circular farms are sprouting up everywhere. The fresh-produce outputs of these industrial farms are expensive, but the technology used to produce them is hugely efficient, and valuable. Food flavouring — products mimicking the taste of harmful foodstuffs — is booming. Sustainable packaging is also touted as a growth sector. 

Various exchange traded funds invest in these areas, but angel investing in potentially lucrative start-ups in the sector could also mean big profits.

While investors have long included global agribusinesses or food manufacturers in their portfolios, their interest in the mucky business of farming is increasingly focused on assets that advance two critical global goals: increasing food security and tackling climate change. Last year, for example, the agri-food technology sector — whose innovations often contribute to more efficient and sustainable forms of food production — attracted almost $20bn in venture capital.

Venture capitalists and private equity firms see an opportunity to take a stake in enterprises that are not only increasing food security or tackling climate change but may also become highly profitable — benefitting from green government schemes. Investing in small and medium enterprises, not just big global companies, could mean big bucks in the long term.

Today’s National Day

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NATIONAL FRANKENSTEIN FRIDAY DAY!

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Don’t Ignore Gold

Gold has been a shining star in a dazzling year for the exchange traded product industry. Record inflows into gold exchange traded funds propelled the price of the precious metal to an all-time high last month in a rally fuelled by concerns about the huge cost of emergency responses to the pandemic. What started as a flight to safety has evolved into the means by which investors are trying to salve their wounds with respect to potential future inflation.

Investors have spent $49.1bn buying gold ETFs so far this year, pushing the value of holdings in these vehicles to $239bn. There has been a 26 per cent rise in the gold price so far this year, as investors jump on the bandwagon in anticipation of further gains. Advocates of gold remind sceptical investors that it outperforms fiat currencies over time.

Warren Buffett always mocked those who invested in gold, calling it a way of going long on fear. This year, however, Buffett joined investors including the world’s largest hedge fund, Bridgewater Associates, by buying into the latest gold rush, which helped push prices to a record high this summer.

The pandemic has convinced investors that gold belongs in their portfolios as a hedge against frothy equity markets, rock bottom interest rates, and a fall in economic output. Some large investors want gold as protection against possible deflation caused by an economic slowdown or a converse rise in inflation as governments pump money into the system.

Quote Of The Day

“Life is like riding a bicycle. To keep your balance, you must keep moving”

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 Albert Einstein

Alternative Quote Of The Day

“Money can’t buy you happiness, but it can buy a yacht big enough to pull right alongside it.”

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David Lee Roth


With the extremely messy-looking upcoming US presidential election and no current end in sight for the pandemic, Mr Buffett’s change of mind on gold may not be a bad bet in a world gone mad. Covid cases are on the rise, governments are starting to panic, and economies are facing down the barrel of second lockdowns. All in all, it signals a perfect storm for gold: there is just too much uncertainty in the world to ignore its benefits.   

Gold is always useful as a diversifier for your portfolio. It’s unusual in being an asset that goes up, or at least holds its value when bad things happen (and, if you hadn’t noticed, bad things are happening and more bad things are sharpening their claws just over the horizon), whilst most other assets go down. 

Early last month, a team at Bridgewater (the world’s biggest hedge fund group) put out a short and very bullish report on gold. They point out that we’re in a world where politicians and central bankers are under pressure to print and spend money. When this has happened in the past, gold has enjoyed massive rallies that dwarf its recent run.

Gold’s lack of yield (it pays no income) is less of a problem when financial assets are offering so little. You can’t complain about gold paying 0 per cent when a significant proportion of global bonds actually charge you to own them. It’s clear that there’s a desire to hedge against financial chaos and/or potential runaway inflation out there. And history shows that gold is one of the few assets that does an acceptable job of hedging against those things. At the moment, gold is shining like never before.

Today’s National Day

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NATIONAL CAT DAY!

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Stamp-Duty Stampede

If you want to avoid paying stamp duty on your next property purchase you need to get a move on: there has been a surge in people keen to move. Between 8 July and 8 August, the number of people registering to buy across the country was up by 38 percent on the same period last year, boosted by the stamp duty holiday.

Properties are going under offer faster than ever. Currently, one in seven homes are under offer within a week of listing. But things slow down after that. A conveyancing log-jam after lockdown means that even if a sale is agreed quickly, a transaction could take six months to complete, especially if it is in a chain.

People thinking of coming to market need to do so in by early December if they want to have a chance of completing within time to beat the stamp duty deadline. Stamp duty is currently suspended on properties worth up to £500,000, saving buyers as much as £15,000. However, the tax will be reinstated on 31 March 2021.

The stamp duty holiday has accelerated the moves of buyers who were looking for larger properties with gardens and space for home offices. But the surge is expected to subside as unemployment rises with the end of the furlough scheme and lenders wind down their forbearance policies this autumn.

With the housing market rising quickly post-lockdown wise buyers may opt not to rush to embrace the stamp-duty holiday. Racing simply to save 1 per cent to 3 per cent on the cost of your next home at a time when house prices are ludicrously high and are up 2 per cent on last month and 3.7 per cent on last year is futile.

Quote Of The Day

“Face reality as it is, not as it was or as you wish it to be”

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 Jack Welch

Alternative Quote Of The Day

“Doctor Doctor, my arm is broken in three places.” Well stay out of those places.”

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Tommy Cooper


Money Statistics

£5.25 was the average discount received by diners from the government Eat Out to Help Out scheme. In the first three weeks of the month-long scheme in August, 64 million discounted meals were served at 84,000 outlets, at a cost to taxpayers of £336m.

$56.14 is how much an American wearing a face mask for a day saves the US in lost GDP by helping obviate the need for more costly lockdown measures. Not bad for something you can buy for about 50 cents.

£7,000 is what it would cost to buy an original 2007 edition of the Star Wars Lego Millennium Falcon, which was available on Amazon this summer. Lego sets — especially Star Wars Lego sets — can become favourites of specialist collectors.

£260,000 is how much a pair of Mahatma Gandhi’s sunglasses sold for at auction last month.

£368,000 is what a sheep has been sold for in Scotland. It is a record sale, beating the previous sheep-record of £230,000 set in 2009. Bidding started at £10,000 for the Double Diamond, a six-month old Texel ram.

$1.1bn is the annual estimated value of seabird droppings worldwide. The unassuming lime can be used as fertiliser and to provide nutrients to coral reefs, to boost fish numbers.

Today’s National Day

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NATIONAL CHOCOLATE DAY!

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You’re Fully Responsible For What Happens To You.

To succeed in any effort, it’s essential that you accept full responsibility for the outcome. Starting out with any other attitude almost guarantees failure. Teenagers who are told that their criminal behaviour is a result of social deprivation will carry on, secure in the knowledge that it’s someone else’s fault. Employees who think they have a poor boss will hold back, knowing they can blame him when it goes wrong. Businesspeople who believe that the economy is dying on its feet will stop investing, secure in the knowledge that their failure can be laid at the Government’s door. It is all depressingly self-fulfilling.

Don’t deceive yourself. Whatever ventures and endeavours you undertake – accept responsibility. The outcome is down to you… no excuses.

As soon as you do this, a miraculous thing will happen – your chances of success will multiply. It’s easy to blame someone else, but not so easy to blame yourself. When there’s someone else to blame, it’s so tempting to give up at the first hurdle. “The bank wouldn’t give me any money”, you may say. “The customers didn’t see what a good product I had”, or maybe, “My colleagues let me down” and “There’s just too much competition out there.”

When you accept full responsibility for the outcome, you won’t give up: “Let’s try another bank… and another”, you now say. “Let’s see how else we can sell it”, or “ I’ll make up for my colleagues short comings.” Also maybe: “How can we provide a better service than the competition?”


Colonel Sanders, at the age of 66, approached over 2,000 restaurants with his idea for Kentucky Fried Chicken before he found one that would give it a chance. How many would you have approached? Five? Ten? Most of us would have given up long before, not blaming ourselves of course, but rather the damn fool restaurant owners who wouldn’t know a good idea if it jumped up and bit them. Sanders took full responsibility. He had no intention of blaming anyone else, and as a result, he had no reason to.

Twelve publishers turned down J K Rowling before she found one that would publish her Harry Potter books. It would have been so easy for her to bemoan the fact that the publishers just wouldn’t give a chance to a single mum writing adventure stories, primarily for boys, and give up. She didn’t, she took responsibility. And now she’s at least £400 million richer!

Do yourself the biggest favour you can. Take full responsibility for the outcome of every project you undertake from day one. Your successes will be all the sweeter and your failures all the more rare.

Kind Regards

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John Harrison  

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A Break In Tax


Here are some totally legitimate tactics that can save you some tax. They are often purpose-made loopholes based on encouraging growth in sectors of the economy, so you can rest safe in the knowledge that you are helping your country too.

Buy An Electric Car

Small businesses that buy electric cars with CO2 emissions of less than 50g per kilometre have, since April 2018, been able to claim a capital allowance worth 100 per cent against the purchase — so the entire cost of the car can be deducted from company profits. Also, the cars can be used for personal journeys free of tax from April this year and incur a benefit-in-kind charge of 1 per cent the following year and 2 per cent the year after.

Max Out Your Allowances

Commonly available tax exemptions mean a couple can achieve a fairly sizeable income without paying tax. For example, the personal income tax allowance is £12,500, which, for two, makes £25,000. The annual CGT exemption for a couple is £24,000, the dividend allowance is £4,000 and savings allowances are £2,000 — although the last of these goes down to £500 for higher-rate taxpayers and is zero for those paying the additional rate. Put together, these make a joint potential tax saving of £55,000. Add the basic-rate bands for each spouse to this, which is two times £37,500, and they could have a combined income well over £130,000 before they start paying higher-rate tax.

Quote Of The Day

“I may not have gone where I intended to go, but I think I have ended up where I needed to be.”

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Douglas Adams

Alternative Quote Of The Day

“Last night, me and my girlfriend watched three DVDs back to back. Luckily, I was the one facing the telly. ”

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Tim Vine

Buy Wine And Classic Cars

Both wine and classic cars attract special tax status as “wasting assets” with a predictable life of less than 50 years. This makes them exempt from capital gains tax (CGT) on any profits. However, HMRC’s definition of a wasting asset is getting tougher. The taxman’s latest manual said the exemption would clearly apply to cheap table wine, which may turn to vinegar within a relatively short period, but it might not apply to fine wines, because some can stay drinkable for far longer than 50 years, and also, sadly, does not apply to port and other fortified wines.

Classic cars are wasting assets only if they are being used as private vehicles, as their value will depreciate as mileage increases. Over 10 years, fine wines have risen in value by 142 per cent — more than jewellery (100 per cent) and watches (63 per cent), and dwarfing the FTSE 100’s 36.2 per cent return. Classic cars — defined by HMRC as any vehicle more than 15 years old and worth more than £15,000 — grew by 334 per cent over the same period. Investors can also turn to furniture, paintings and antiques, known as chattels, which attract extra CGT exemption of £6,000 on top of the standard £12,000.

Today’s National Day

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NATIONAL SPEAK YOUR MIND DAY!

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You’re Just Like Everyone Else… Well Almost!

If you want to understand the needs, wants and motives of others – and it’s critical to optimising your life outcomes that you do – there’s a really easy way to do it. When you realise what it is, you’ll be amazed you didn’t figure it out before, but you’ll also, more than likely, be a little disillusioned. 

You see, people have been telling you that you are unique since you were a small child, and on the surface, you are. Scratch below that surface though, and we all share pretty much the same wants, needs, hopes, desires and motivations.

So when you’re trying to figure out what that other strange person you’re dealing with really wants, it isn’t difficult. Their underlying wants are the same as yours, although they may be manifested in slightly different ways.


We’ll be looking at what some of these wants, needs and desires in other articles, but for now hold on to the idea that the people you’re dealing with each day are just like you. When you’re trying to figure out ‘where they’re coming from’, a little introspection will usually deliver the answer.

Kind Regards

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John Harrison  

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Flush With Success

A few weeks ago I was wandering through a shopping centre, when my attention was grabbed by the price tag on a mobile phone. It was over £20,000.  I have no idea who pays such a large amount for a soon to be obsolete item (people who haven’t worked very hard for the money, I’d imagine), but it does show there’s a market for an upgraded version of just about anything.

Atlanta Watercloset realised this when they launched their business, which aims to provide ‘exceptionally clean’ portable restrooms (toilets) for outdoor events.  If you’ve been to such an event, you’ll know that the competition provide the bare basics, but little more.  Atlanta Watecloset offer toilets with fresh water sinks, interior lighting, mirrors, coat-hooks, shelves and branded loo roll. The environment around the restrooms can be specially prepared with privacy shields, flowers and pathway lighting. The service is particularly popular at weddings, where nothing can be allowed to spoil the special day.

Whatever the product, some people will always be attracted to an upgrade – a premium offering over and above what’s provided by the standard product. If you find yourself competing fiercely with everyone else in your market, now could be a good time to look at whether there’s a market for an enhanced version of what you do at a premium price.

Quote Of The Day

“Aim higher in case you fall short.”

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Suzanne Collins

Alternative Quote Of The Day

“I went to buy some camouflage trousers the other day but I couldn’t find any.”

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Tommy Cooper


Second Hand Profits

Thanks to the likes of eBay, buying second hand or used goods has never been as popular (or easy), as it is today.  A lot of mainstream retailers are catching on to this now. You’ve been able to buy used books on Amazon for a long time now, but even primarily off-line businesses are getting in on the act.  My favourite retailer, Ikea, have now set up a system to facilitate customers disposing of their second-hand furniture.

At first glance this seems counter-intuitive, but there is a logic to it.  Having the option to buy used (and cheaper) second hand furniture will draw more people to the company website, as well as improving customer goodwill.  And of course, sometimes a customer needs to dispose of an old piece of furniture before they’re able to buy a new one.

Is there someway you could facilitate your customers disposing of the products they no longer need or want, and if there is, would it help or hinder your business?  It’s a question worth asking.

Today’s National Day

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NATIONAL GREASY FOODS DAY!

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