Key Democrat says he’ll subpoena Trump records from accounting firm
Key Democrat says he’ll subpoena Trump records from accounting firm By Billy House and Shahien Nasiripour, Bloomberg News Apr 12, 2019
U.S. Rep. Elijah Cummings speaks on March 8, 2017, after meeting with President Donald Trump at the White House in Washington, D.C. (Olivier Douliery/Abaca Press/TNS) Olivier Douliery Save
WASHINGTON – House Oversight and Reform Committee Chairman Elijah Cummings said he’ll subpoena documents on Monday from an accounting firm tied to President Donald Trump.
“The committee has full authority to investigate whether the president may have engaged in illegal conduct before and during his tenure in office,” Cummings said in a memo Friday to committee members along with a copy of the subpoena to Mazars USA LLP.
While Attorney General William Barr plans to make public next week a redacted version of special counsel Robert Mueller’s findings from his investigation into Russian interference in the 2016 election, the move by Cummings underscored House Democrats are intent on pursuing other questions about the president and his business dealings.
Cummings said in the memo that his inquiry includes whether the president “has undisclosed conflicts that may impair his ability to make impartial policy decisions, to assess whether he is complying with the Emoluments Clause of the Constitution, and to review whether he accurately reported his finances to the Office of Government Ethics and other financial entities.”
Rep. Jim Jordan of Ohio, the Oversight panel’s top Republican, said in a statement Friday that “Chairman Cummings’s announcement of a subpoena to a private company to pry into the president’s personal finances is an astonishing abuse of this committee’s authority and a disgraceful departure from the fair and legitimate oversight he promised to the American people just 73 days ago.”
Jennifer Farrington, chief marketing officer for Manhattan-based Mazars USA, said in a statement that “as a matter of firm policy and professional rules we do not comment on the work we conduct for our clients. Mazars USA will respect the legal process and fully comply with its legal obligations.”
In a March 27 letter to Cummings, a lawyer for the accounting firm, Jerry Bernstein of Blank Rome LLP, cited laws and industry rules that could enable the firm to produce the documents if they were demanded through a subpoena.
The subpoena to be sent to Mazars seeks records from Trump, the Trump Revocable Trust, the Trump Organization LLC, the Trump Corporation, DJT Holdings LLC, the Trump Old Post Office LLC, the Trump Foundation, and any parent, subsidiary, affiliate, joint venture, predecessor or successor.
It gives the accounting firm until noon on April 29 to produce the material. Cummings previously had asked Mazars to turn over the material voluntarily to determine “the accuracy” of Trump financial filings prepared by that company.
The Treasury Department and the Internal Revenue Service missed a Wednesday deadline set by the House Ways and Means Committee to turn over six years of Trump’s past tax returns. Treasury Security Steven Mnuchin wrote that he needed more time to consult with the Department of Justice.
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8 Highly Successful Entrepreneurs Share Their Best Advice for Getting Customers to Buy Your Product–No Matter What It Costs
There are no Videos in your queue. Click on the Add to next to any video to save to your queue. There are no Articles in your queue. Click on the Add to next to any article to save to your queue. There are no Podcasts in your queue. Click on the Add to next to any podcast episode to save to your queue. See Latest Podcasts You’re not following any authors. Click the Follow button on any author page to keep up with the latest content from your favorite authors. Content Partner Where brands share their insights. What’s This? 8 Highly Successful Entrepreneurs Share Their Best Advice for Getting Customers to Buy Your Product–No Matter What It Costs Bulletproof founder Dave Asprey and others on how to convince customers your price is worth it. A mastermind group for top entrepreneurs April 11, 2019 8 min read Opinions expressed by Entrepreneur contributors are their own.
Price is one of the most crucial considerations in any business, and it’s important to charge what you’re worth. We asked these master salespeople, including Bulletproof founder Dave Asprey and Advisors in The Oracles , how to convince customers your price is worth it — especially when you charge a premium. 1. Offer a quality product and let the market work. Dan Asprey Image credit: The Oracles
There isn’t a secret formula to convincing customers of your worth. Price is marked by your costs and what the customer is willing to pay, with margin to support a scalable model. Offer educational, honest information that a shopper would want. Don’t water it down. Let the market work for you, knowing you have the best products in your space.
For example, I founded Bulletproof 360 to educate others about their biology and makeup. A life of happiness and joy begins with knowing your biological, emotional, and mental state — which we can control. As I learned to hack my own biology, I found that the products I wanted didn’t exist; so I created them. The natural progression was to create the lowest barrier possible to the highest-quality products so everyone can be a high performer. After all, it’s your birthright to be the best person you were designed to be. —Dave Asprey, entrepreneur, known as the “father of biohacking”; creator of Bulletproof 360 and NYT best-selling author of “ Game Changers ”; follow Dave on Facebook and Instagram 2. Give customers options. Dan Lok Image credit: The Oracles
We buy because of emotions and justify it with logic. We don’t buy our way into something; we buy our way out of something. We don’t buy products or services; we buy stories. So ask, what emotion can you elicit? What problem can you solve? What story can you tell?
We approach purchase decisions with a yes-or-no mindset; then we focus on price. Change your offer to include three choices of increasing size. The smaller and larger options are just decoys for contrast; make the middle option the most compelling. Then you’ve shifted the question from “Do I want to buy this or not?” to “Which one do I want to buy?” Two choices are good, three is best, and four is too many.
If a prospect objects to your price, ask if they are concerned about price or results. If you can get them the results they want, it shouldn’t matter what you charge. — Dan Lok , Chinese Canadian serial entrepreneur, global educator, and international best-selling author of “ Unlock It! ”; two-time TEDx opening speaker and founder of Closers.com , which connects companies to closers; follow Dan on YouTube , Facebook , and Instagram 3. Don’t try to be affordable. Matt Clark Image credit: The Oracles
Trying to be “affordable” nearly killed our company. We decreased our price by 90 percent to be within reach of more people, thinking we’d make up the difference with higher volume. But it didn’t work that way. After four years of profitability, we started losing $500,000 a month. This painful experience cost millions.
I learned that people don’t care about price as much as they care about value. We tried to reduce our product from a start-to-finish complete solution to just another inexpensive option. But people buy from you to fulfill a desire or solve a problem. Deliver what your customers value. A better product leads to happier, more committed customers, which leads to positive testimonials and referrals, which drives sales.
With a higher price, you can help customers without worrying whether you’ll lose money. You’ll also have a higher profit margin to pay referral partners and affiliates. If you can pay them a higher commission than other companies, you’ll have an army recruiting customers for you. — Matt Clark , co-founder and chairman of Amazing.com and co-creator of Amazing Selling Machine ; connect with Matt on Instagram 4. Choose the price that’s right for you. Katrina Ruth Image credit: The Oracles
People don’t just buy your offering. They buy into the energy behind it, who you are, and what your company is about. When they’re deciding whether to work with you, the price is never the deciding factor.
It’s up to you to choose the price that’s right. Money only has the value we attach to it. Don’t be guided by perceived value or something outside of yourself. Always listen to what lights you up and feels expansive, and detach from the outcome you want. If you go against your instincts, your launch, promotions, and enthusiasm will be off. People are intuitive; they will subconsciously see this, which will turn them off.
The same goes for any aspect of your offering. If even a small part doesn’t feel completely on point, it will reflect in your delivery — and your sales. But when everything feels aligned, the energy you bring to it will be at 100 percent. That energy and passion are what convince customers to buy from you. — Katrina Ruth, founder and CEO of “ The Katrina Ruth Show ,” a multimillion-dollar online coaching business for entrepreneurs; connect with Katrina on Facebook and YouTube 5. Attract premium clients with premium pricing. David Newman Image credit: The Oracles
Rather than defend your price, work to establish your company as the premium choice in your category. Luxury brands like Rolex and BMW don’t try to convince customers they’re worth it, and neither should you. Pricing is a powerful filtering and sorting tool. In our world of helping experts build a speaking brand, we never use poverty or struggle language — we use platform building, respect, and recognition language.
Many companies accept any customer who can pay. We have an application process and a waiting list. We only admit clients who will get strong results from our work. The best way to command premium fees is to deliver premium results — and ensure only the right people get the privilege of working with you. —David Newman, best-selling author of “ Do It! Marketing ” and creator of the Speaker Profit Formula ; host of the iTunes Top 50 business podcast “ The Speaking Show ”; connect with David on Facebook 6. Specialize. Loren Yadeski Image credit: The Oracles
After 15 years in the pre-employment background check industry, I’ve found that specializing in a few specific industries is the best way to combat the never-ending race to the lowest price. By specializing, we provide a high level of expertise and customer service, along with very specific technology that caters precisely to the industry’s need. For example, we integrate directly with the government’s E-Verify platform. This is an extremely complex integration, but we offer it to our clients for free.
That means instead of a commoditized product, we are offering a suite of tools that help automate and streamline our customers’ processes. This lowers their operational costs, even when our pricing isn’t the cheapest option. With this kind of specialization, we can provide higher-quality employment screening services that aren’t judged by cost alone. —Loren Yadeski, COO of Crimcheck and founder of Aggressive Development 7. Communicate the five ‘Experience Factors.’ Jeanine Blackwell Image credit: The Oracles
If you have to convince your customers your product is worth the price at the decision-making point, you are making this harder than it should be.
Our Expert Experience Method is a systematic way to establish the value you deliver to your clients, by getting the right content in front of prospects before, during, and after the sale. There are five “Experience Factors” that position your brand at a premium and communicate your value. You need a product of true value, proof that you can deliver results, authority status, a business presence that aligns with premium pricing, and the confidence to charge what the transformation you provide is worth.
Map out your client’s experience before, during, and after the sale and identify where you can address the five Experience Factors. For example, include client success stories in your appointment reminder emails or explain your unique method for getting results in your social media content. When you create a cohesive sales funnel with these factors, you attract clients who are happy to work with you at a premium. — Jeanine Blackwell , best-selling author, creator of the Expert Experience Method; trained over 40,000 experts (including Fortune 500 companies) to package their expertise into products; connect with Jeanine on Facebook 8. Compare your results against the competition. Keri Shull Image credit: The Oracles
Clients will pay whatever they need to for results. People make decisions from fear more than success; so make sure you remind them what could go wrong if they don’t pay for quality. In the real estate business, it’s about explaining why the average agent’s results are underwhelming and exactly how my team does what we do so differently.
The average agent in my market will make less than $28,000 this year; so they need to decide between feeding their family or paying to market their client’s home. Last year, we helped over 480 families buy or sell homes, and 30 percent of those sales happened without advertising. We share those stats with confidence. —Keri Shull, founder of the Keri Shull Team , which has sold over $2 billion in properties; co-founder of real estate coaching business HyperFast Agent ; named one of America’s Best Real Estate Agents by REAL Trends; connect with Keri on Facebook
Want to share your insights in a future article? Join The Oracles, a mastermind group of the world’s leading entrepreneurs who share their success strategies to help others grow their businesses and build better lives. Apply here .
For more articles like this, follow The Oracles on Facebook , Twitter , and LinkedIn . More from Entrepreneur New York Times bestselling author Nicole Lapin can help you pitch your brand to press and strengthen your media training.