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The Best Goal is No Goal

noreply@blogger.com (Home Business) — Wed, 16 May 2012 12:09:00 +0000

The idea of having concrete, achievable goals seem to be deeply ingrained in our culture. I know I lived with goals for many years, and in fact a big part of my writing is about how to set and achieve goals.

These days, however, I live without goals, for the most part. It's absolutely liberating, and contrary to what you might have been taught, it absolutely doesn't mean you stop achieving things.

It means you stop letting yourself be limited by goals.

Consider this common belief: "You'll never get anywhere unless you know where you're going." This seems like common sense, and yet it's obviously not true if you stop to think about it. Conduct a simple experiment: go outside and walk in a random direction, and feel free to change directions randomly. After 20 minutes, an hour... you'll be somewhere! It's just that you didn't know you were going to end up there.

And there's the rub: you have to open your mind to going places you never expected to go. If you live without goals, you'll explore new territory. You'll learn some unexpected things. You'll end up in surprising places. That's the beauty of this philosophy, but it's also a difficult transition.

Today, I live mostly without goals. Now and then I start coming up with a goal, but I'm letting them go. Living without goals hasn't ever been an actual goal of mine... it's just something I'm learning that I enjoy more, that is incredibly freeing, that works with the lifestyle of following my passion that I've developed.

The problem with goals

In the past, I'd set a goal or three for the year, and then sub-goals for each month. Then I'd figure out what action steps to take each week and each day, and try to focus my day on those steps.

Unfortunately, it never, ever works out this neatly. You all know this. You know you need to work on an action step, and you try to keep the end goal in mind to motivate yourself. But this action step might be something you dread, and so you procrastinate. You do other work, or you check email or Facebook, or you goof off.

And so your weekly goals and monthly goals get pushed back or side-tracked, and you get discouraged because you have no discipline. And goals are too hard to achieve. So now what? Well, you review your goals and reset them. You create a new set of sub-goals and action plans. You know where you're going, because you have goals!

Of course, you don't actually end up getting there. Sometimes you achieve the goal and then you feel amazing. But most of the time you don't achieve them and you blame it on yourself.

Here's the secret: the problem isn't you, it's the system! Goals as a system are set up for failure.

Even when you do things exactly right, it's not ideal. Here's why: you are extremely limited in your actions. When you don't feel like doing something, you have to force yourself to do it. Your path is chosen, so you don't have room to explore new territory. You have to follow the plan, even when you're passionate about something else.

Some goal systems are more flexible, but nothing is as flexible as having no goals.

How it works

So what does a life without goals look like? In practice, it's very different than one with goals.

You don't set a goal for the year, nor for the month, nor for the week or day. You don't obsess about tracking, or actionable steps. You don't even need a to-do list, though it doesn't hurt to write down reminders if you like.

What do you do, then? Lay around on the couch all day, sleeping and watching TV and eating Ho-Hos? No, you simply do. You find something you're passionate about, and do it. Just because you don't have goals doesn't mean you do nothing – you can create, you can produce, you can follow your passion.

And in practice, this is a wonderful thing: you wake up and do what you're passionate about. For me, that's usually blogging, but it can be writing a novel or an ebook or my next book or creating a course to help others or connecting with incredible people or spending time with my wife or playing with my kids. There's no limit, because I'm free.

In the end, I usually end up achieving more than if I had goals, because I'm always doing something I'm excited about. But whether I achieve or not isn't the point at all: all that matters is that I'm doing what I love, always.

I end up in places that are wonderful, surprising, great. I just didn't know I would get there when I started.

By Leo Babauta

[Ed. Note. Leo Babauta is the owner of ZenHabits.net, a website devoted to providing clear and concise wisdom on how to simplify your life. He's also the author of, The Power of Less: The Fine Art of Limiting Yourself to the Essential, in Business and in Life.]

Source : http://www.earlytorise.com/

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

The Economy of Diversification in 2012

noreply@blogger.com (Home Business) — Mon, 23 Apr 2012 12:55:00 +0000

Every year, investors analyze and worry a lot of the best sectors to put their money in. In some cases, they make the right choices and in some, they flop. With 2011 having caused a lot of sleepless nights to investors, with the majority fearing for the unknown, most of them would like to place their money in profitable sectors in 2012, hoping that the new year, has some pleasant surprises in store for them.

The market outlook and economics of 2012 are scanty but with a serious look at the previous year's happening and this year's projections, you can actually foresee where we are headed. Most economies might have reported some positive growth, however meager but the truth is, economic stability is everyone's wish. However, the indicators cast a gloomy cloud of unemployment, sky-rocketing food prices due to the undeterred cost of fuel.

On the positive side, the world has is gradually moving away from its worst recession period that began five years ago in 2008. However, whatever gains realized in the stock market especially after its serious come back from 2009 through to 2011 is now cooling down and investors have to spread their risks through diversifications.

Sector Diversification

Diversification is the surest way that investors will stay away from the woes and surprises that this leap year has in store for us. Investors will have to seek exposure in a variety of asset classes like bonds, cash and stocks as well as an assortment of mutual fund categories in the asset classes. You can cut the market risk by slightly increasing the amounts to particular sector funds. By purchasing ETFs, Index Funds or actively-managed specialty funds, you can increase your chances getting more exposure to different sectors.

Sectors You Need to Invest in 2012

With projections painting a gloomy economic picture of 2012, the best strategy an investor can employ is defensive mechanism. With a weak growth of even worse recession still with us, unemployment, downbeat consumer sentiment as well as poor corporate profits, there are a few sectors that bloom in such situations and smart investors know that is where they need to put their money.

The first and most important sector that is assured stability, with or without recession is health. People need medication all year around, doctors will still be needed to attend to accident victims and patients of terminal diseases. Investing in health may be the wisest decision investors have to make in 2012.

Utilities, just like health, people will still require their phones, gas, and electricity among others. Closely related are sectors dealing in consumer staples with basic commodities like food, beverages and household commodities.

To the high risk takers, sectors that do well in economic recovery like Real Estate, Financials, Technology may be ideal. Market timing may fail to deliver positive results but diversification will as the risks will be spread across key sector. When one sector is battered, the other can hand out of the waters.

By John Conolly

John Conolly is an independent investor with many years experience of the stock market. His sites, such as iiforum.co.uk and nysharechat.com give fellow investors the chance to discuss and exchange share information.

Article Source: http://EzineArticles.com/?expert=John_Conolly

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

Five Steps to Creating a Balanced Life

noreply@blogger.com (Home Business) — Thu, 05 Apr 2012 05:20:00 +0000

We Want It All

Health, happiness, family, and a financially secure future. We want it all. Achieving "balance" has become a goal of almost mythical proportions. Is it possible? Is it even worthwhile? Today, MaryEllen Tribby, a popular contributor to Early To Rise, shares her counterintuitive steps to building balance in your life.

Craig Ballantyne

"I believe that being successful means having a balance of success stories across the many areas of your life. You can't truly be considered successful in your business life if your home life is in shambles." – Zig Ziglar
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Five Steps to Creating a Balanced Life

It was a simple business call. My colleague – "Larry" – had invited me to speak to his mastermind group on a teleconference later in the week. Nothing out of the ordinary. But my sister-in-law's mouth was hanging wide open.

"I can't believe he called you at 9:00 at night! Don't you think that is totally inappropriate?", Nancy asked.

Larry wanted me to speak to his mastermind group about accelerating their businesses' growth via multi-channel marketing. Given the fact that his attendee list included people like Tony Hsieh, Tony Robbins, and John Carlton – people I personally considered my mentors – I was honored to accept.

When I tried explaining this to my sister-in-law, she just waved her hand and said, "In my day, when you left the office at 5:00, you were done until 9:00 the next morning."

I thought about dropping the subject, but I couldn't resist the challenge.

She opted for early retirement about six years ago – but I asked her if, during her working years, she'd ever left the office to pick up a sick kid from school, go to a dentist appointment, or meet the cable man at her house.

When she begrudgingly nodded her head yes, I knew I had her attention. And I hope I have yours as well. If you think that your work life exists only between 9:00 and 5:00... and that your home and social life exists only between 5:00 and 9:00, you need to make a change.

I recommend that you resolve, right here and now, to make your life better, more rewarding, and more balanced. And I'm going to help you do it.

Who am I to talk about balance? Well, I'm a happily married mother of three who runs a business (with 38 employees), and a foundation, and is heavily involved in her kids school and sporting activities. Over the past few years, I've gotten pretty good at managing all the different aspects of my life in a way that makes me feel happy and proud.

The very first step to creating a happier, healthier lifestyle is to realize that "9:00 to 5:00" no longer applies. By giving yourself the flexibility to do business at all hours of the day or night, you are actually better able to enjoy both your work and your family even more.

This may sound counter-intuitive but by taking the following five simple steps, you will be able to break free of the 9:00 to 5:00 shackles.

Creating Balance Step One: Define what a balanced life means to you.

Many people think that having a balanced life means spending the same number of hours on work as you do on personal activities. This is a big mistake, because most of the time it's not realistic.

To define what will work for you, you need to take into consideration that life is constantly changing. And the right balance for you today may not be the right balance for you tomorrow or next week or next month, because over time your priorities change.

Creating Balance Step Two: Create Boundaries

Some people may agree with my sister-in-law that receiving a business call at 9:00 at night is inappropriate. But the way I look at it is that Larry is someone who is good for my organization and good for my career. Besides, when I met him at a conference earlier this year, he asked me for the best way to reach me. I gave him my e-mail address and my cell number. So why shouldn't he call?

And keep in mind that I made the decision to take his call that night – I created the boundary. It happened to be a good time to talk. However, if he'd made the call 90 minutes earlier – when I was doing homework with the kids – I would have let it go to voice mail and called him back when it was convenient for me.

Later that week, I was the keynote speaker on the mastermind teleconference Larry had invited me to. Many of the attendees learned a great deal. In fact, I got several e-mails from attendees saying they'd purchased Changing the Channel, the book on multi-channel marketing that I co-authored with Michael Masterson. Others called or e-mailed to ask if they could promote the book to their in-house list.

Had I adopted the attitude that I would do business only from 9:00 to 5:00, I may have lost out on a wonderful opportunity that proved to be valuable both to my company and to me personally.

Because I advocate balance, I support the efforts my team members make in striving for balance in their own lives. Some of them work in the evening and/or on the weekends. So I have no problem with it if they need to leave to take care of something personal. I truly believe that your accomplishments aren't dependent on how much time you spend in the office.

Creating Balance Step Three: Learn how to say "No."

No one wants to say no to their boss, their spouse, their employees, their friends, or their kids. But to achieve balance, you are going to have to do it once in a while.

We all have the same 24 hours in a day. And we cannot possibly do everything that we want to do AND everything that everyone else wants us to do. So a big part of leading a more balanced life is to cut down on unnecessary tasks and protect your priorities.

When requests or conflicts are set before you, ask yourself: "Is this going to give me a feeling of accomplishment and a feeling of happiness?"

Years ago, a good friend of mine – "Rita" – wanted my husband and me to meet her new boyfriend. He was "the one" as she put it. So we made dinner plans for the following evening.

But when our two-month-old baby Delanie woke up in the morning, with a fever, I called Rita and apologized, but told her we would have to cancel. I just did not feel right about leaving the baby with a sitter.

Rita was irate. She said I was overreacting, and asked how I could possibly feel that way given that Delanie was our third child.

As I held Delanie though the day and night, I knew I had made the right decision. But I was saddened by Rita's anger – and her anger lasted for weeks.

Then, about five weeks after the infamous missed dinner, Rita called to say that "the one" had dumped her. This time it was her turn to apologize, saying that now she realized I had made the right decision.

Social decisions are one thing, but work decisions can be more difficult. You must learn that sometimes you have to choose your family, your health, or even your social life over work. And you'll also have to make some hard decisions to put work first.

For instance, I take my health seriously. A few months ago, a doctor's appointment conflicted with a last-minute visit from one of the industry's top marketing minds. The only chance I had to see him was during the time I'd reserved for my appointment. Since I wasn't sick and the appointment was for a simple check up, I didn't think twice about rescheduling.

Creating Balance Step Four: Keep a journal.

The only way to make your life better is to understand what you're doing, what's working, and what isn't. And there are far too many things going on in our lives to try to keep it all in our heads.

So keep a journal. Write down what you spend time on – everything from the meetings you attend to how many times you go to the gym.

Keeping a journal will help you see if you are spending your time in the most productive way – and it will make you accountable for your actions. It will help you accomplish your professional and personal goals, and will make you proud of those accomplishments.

Creating Balance Step Five: Understand that you're not a superhero.

Having a balanced life means being realistic. Realistic about the fact that some things are just not going to get done. And you have to be okay with that.

When my husband and I got married 15 year ago, we both had busy careers. But we still enjoyed spending time decorating and upgrading our home with art and new furniture. After a busy day, we loved coming home to our immaculate sanctuary.

Well... once we had kids, things started looking a lot different. Instead of the beautiful vase I picked up in Mexico on the coffee table – there was a stuffed Elmo.

Soon our Tiffany picture frames were replaced by toy trains. And many days, while we're making dinner, the kids have all the pots and pans on the floor.

But instead of spending my time cleaning up and trying to make my house look perfect, I would much rather play with the kids, banging on the pots and pans with them and playing with trains.

There are always things out of place in my house – but that is exactly the way it should be. Because when I come home to my family, I absolutely have a feeling of great accomplishment and happiness!

This goes for work, too. You may have a dozen projects on your plate, and only so much time to complete them. Don't get down on yourself for re-prioritizing one of them so you can spend more time on marketing, or so you can care for your ailing grandmother, or so you can spend an hour at the gym.

Following the other guidelines I've recommended – figuring out what kind of balance is right for you, creating boundaries, picking priorities, and knowing what's working and what isn't – will help you feel confident that your accomplishments are enough... even if you have more goals you want to achieve.

By MaryEllen Tribby

[Ed. Note. MaryEllen Tribby has created the site, www.WorkingMomsOnly.com, as the leading website and newsletter for the empowerment of the working moms. Her mission is to supply the tools that can give EVERY working mom the ability to lead a healthy, wealthy, and more balanced/blended lifestyle. To create a community where millions of working moms from all over the world come together in support and celebration of each other.]

Source : http://www.earlytorise.com/

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

7 Investing Mistakes And How To Avoid Them

noreply@blogger.com (Home Business) — Tue, 20 Mar 2012 07:16:00 +0000

Making mistakes is part of the learning process. However, it's all too often that plain old common sense separates a successful investor from a poor one. At the same time, nearly all investors, new or experienced, have fallen astray from common sense and made a mistake or two. Being perfect may be impossible, but knowing some of common investing errors can help deter you from going down the well-traveled, yet rocky, path of losses. Here are some of the most common investing mistakes.

Using Too Much Margin

Margin is the use of borrowed money to purchase securities. Margin can help you make more money; however, it can also exaggerate your loses - a definite downside.

The absolute worst thing you can do as a new investor is become carried away with what seems like free money - if you use margin and your investment doesn't go your way, you end up with a large debt obligation for nothing. Ask yourself if you would buy stocks with your credit card. Of course you wouldn't. Using margin excessively is essentially the same thing (albeit likely at a lower interest rate).

Additionally, using margin requires you to monitor your positions much more closely because of the exaggerated gains and losses that accompany small movements in price. If you don't have the time or knowledge to keep a close eye on and make decisions about your positions and the positions drop, your brokerage firm will sell your stock to recover any losses you have accrued.

As a new investor, use margin sparingly, if at all. Use it only if you understand all its aspects and dangers. It can force you to sell all your positions at the bottom, the point at which you should be in the market for the big turnaround.

Buying On Unfounded Tips

We think everyone makes this mistake at one point or another in their investing career. You may hear your relatives or friends talking about a stock that they heard will get bought out, have killer earnings or soon release a groundbreaking new product. Even if these things are true, they do not necessarily mean that the stock truly is "the next big thing" and that you should run to the nearest phone to call your broker.

Other unfounded tips come from investment professionals on TV who often tout a specific stock as though it's a must-buy, but really is nothing more than the flavor of the day. These stock tips often don't pan out and go straight down after you buy them. Remember, buying on media tips is often founded on nothing more than a speculative gamble.

Now this isn't to say that you should balk at every stock tip. If one really grabs your attention, the first thing to do is consider the source. The next thing is to do your own homework. Make sure you "research, research and research" so that you know what you are buying and why. Buying a tech stock with some proprietary technology should be based on whether it's the right investment for you, not solely on what some mutual fund manager said on TV.

Next time you're tempted to buy a hot tip, don't do so until you've got all the facts and are comfortable with the company. Ideally, obtain a second opinion from other investors or unbiased financial advisors.

Day Trading

If you insist on becoming an active trader, think twice before day trading. Day trading is a dangerous game and should be attempted only by the most seasoned investors. In addition to investment savvy, a successful day trader needs access to special equipment that is rarely available to the average trader. Did you know that the average day-trading workstation (with software) can cost in the range of $50,000? You'll also need a similar amount of trading money to maintain an efficient day trading strategy.

The need for speed is the main reason you can't start day trading with simply the extra $5,000 in your bank account: online brokers do not have systems fast enough to service the true day trader, so quite literally the difference of pennies per share can make the difference between a profitable and losing trade. In fact, day trading is deemed such a difficult endeavor that most brokerages who offer day trading accounts require investors to take formal trading courses.

Unless you have the expertise, equipment and access to speedy order execution, think twice before day trading. If you aren't particularly adept at dealing with risk and stress, there are much better options for an investor looking to build wealth.

Buying Stocks that Appear Cheap

This is a very common mistake, and those who commit it do so by comparing the current share price with the 52-week high of the stock. Many people using this gauge assume that a fallen share price represents a good buy. But the fact that a company's share price happened to be 30% higher last year will not help it earn more money this year. That's why it pays to analyze why a stock has fallen.

Deteriorating fundamentals, a CEO resignation and increased competition are all possible reasons for the lower stock price - but they are also provide good reasons to suspect that the stock might not increase anytime soon. A company may be worth less now for fundamental reasons. It is important always to have a critical eye since a low share price might be a false buy signal.

Avoid buying stocks that simply look like a bargain. In many instances, there is a strong fundamental reason for a price decline. Do your homework and analyze a stock's outlook before you invest in it. You want to invest in companies which will experience sustained growth in the future.

Underestimating Your Abilities

Some investors tend to believe they can never excel at investing because stock market success is reserved for sophisticated investors. This perception has no truth at all. While any commission-based mutual fund salesmen will probably tell you otherwise, most professional money managers don't make the grade either - the vast majority underperform the broad market. With a little time devoted to learning and research, investors can become well equipped to control their own portfolio and investing decisions - and be profitable. Remember, much of investing is sticking to common sense and rationality.

Besides having the potential to become sufficiently skillful, individual investors do not face the liquidity challenges and overhead costs large institutional investors do. Any small investor with a sound investment strategy has just as good a chance of beating the market, if not better, than the so-called investment gurus.

Never underestimate your abilities or your own potential. That is, don't assume you are unable to successfully participate in the financial markets simply because you have a day job.

When Buying a Stock, Overlooking the "Big Picture"

For a long-term investor one of the most important - but often overlooked - things to do is qualitative analysis, or "to look at the big picture." Fund manager and author Peter Lynch once stated that he found the best investments by looking at his children's toys and the trends they would take on. Brand name is also very valuable. Think about how almost everyone in the world knows Coke; the financial value of the name alone is therefore measured in the billions of dollars. Whether it's about iPods or Big Macs, no one can argue against real life.

So pouring over financial statements or attempting to identify buy and sell opportunities with complex technical analysis may work a great deal of the time, but if the world is changing against your company, sooner or later you will lose. After all, a typewriter company in the late 1980s could have outperformed any company in its industry, but once personal computers started to become commonplace, an investor in typewriters of that era would have done well to assess the bigger picture.

Assessing a company from a qualitative standpoint is as important as looking at the sales and earnings. Qualitative analysis is a strategy that is one of the easiest and most effective for evaluating a potential investment.

Compounding Your Losses by Averaging Down

Far too often investors fail to accept the simple fact that they are human and prone to making mistakes just as the greatest investors do. Whether you made a stock purchase in haste or one of your long-time big earners has suddenly taken a turn for the worse, the best thing you can do is accept it. The worst thing you can do is let your pride take priority over your pocketbook and hold on to a losing investment, or worse yet, buy more shares of the stock since it is much cheaper now.

Remember, a company's future operating performance has nothing to do with what price you happened to buy its shares at. Anytime there is a sharp decrease in your stock's price, try to determine the reasons for the change and assess whether the company is a good investment for the future. If not, do your pocketbook a favor and move your money into a company with better prospects.

Letting your pride get in the way of sound investment decisions is foolish and it can decimate your portfolio's value in a short amount of time. Remain rational and act appropriately when you are inevitably confronted with a loss on what seemed like a rosy investment.

The Bottom Line

With the stock market's penchant for producing large gains (and losses) there is no shortage of faulty advice and irrational decisions. As an individual investor, the best thing you can do to pad your portfolio for the long term, is to implement a rational investment strategy you are comfortable with and willing to stick to. If you are looking to make a big win by betting your money on your gut feelings, try the casino. Take pride in your investment decisions and in the long run, your portfolio will grow to reflect the soundness of your actions.

Source: http://www.investopedia.com/
Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

Finding Buyers that Buy

noreply@blogger.com (Home Business) — Fri, 09 Mar 2012 13:13:00 +0000

extract :

Because it is so hard to find buyers that will spend money with you, many companies go out of business before they ever get started.

Especially small businesses.

If you're going to make money online and build a safe, consistent income, then you must know where to find buyers that will buy from you. A steady stream of buyers will give you the power to overcome mountains of obstacles, give you great staying power in any economy, and drastically improve your quality of life.

There are four aspects of finding buyers that buy that I'd like to focus on. Today, I will cover the first and most important. Today is the "what" ... the next three weeks will be the "how."

At the core of finding buyers that buy is a concept called "Psychographics."

Psychographics is the study and classification of people according to their attitudes, thoughts, feelings, behaviors, and aptitudes. It's knowing the words they use, the emotions they have, and the choices they make on a daily basis.

Do not confuse this with "demographics," which is the study of facts about people. Their age, their gender, where they live, number of children, etc. ...

These kinds of facts and figures are important, but they only give you a small insight into the buyer's life and desires. It's far too shallow to really bring in consistent, safe, ongoing sales.

You must go deeper. You must understand what makes their heart race, what keeps them up at night, and what drives them to do irrational, spontaneous, totally emotional things.

Michael Masterson (aka Mark Ford), has been teaching the need to dive deep into the thoughts, feelings, and emotions of buyers for many, many years. He calls it the "Core Buying Emotion."

Many people think that you can sell someone just by appealing to a set of base emotions like greed, fear, anger, sex, etc. And, it is true. Those emotions are very strong. But human beings are much more complicated than that.

Michael puts it like this ... and you can substitute "online marketing and sales" for the word "copy" ...

"Great copy, ultimately, is an exploration, stimulation, or provocation of the prospect's greatest and deepest desires, fears, hopes, and dreams."

Savor that statement because it's worth millions of dollars once you discover how to explore, stimulate, and provoke the buyer's Core Buying Emotion. This Core Buying Emotion is uncovered only when you come to understand the psychographics of your target audience.

There are several other powerful advantages to understanding the psychographics of your buyers:

1.First, you know exactly how to talk to them. You understand their Core Buying Emotion.

2.Second, you immediately know where they are. You'll remember that finding where your buyers are is the first step to discovering your Optimal Selling Strategy. (Another of Michael Masterson's powerful phrases and concepts; see Ready, Fire, Aim for details.)

3.Third, you know what design, images, colors, and styles will appeal to them and entice them to buy and buy more often. (Yes, the book is judged by its cover ... )

4.Fourth, you know how to price your product or service.

In the next three weeks, I'm going to talk about the "how" to uncovering the psychographics of your market. I think you'll be surprised at the methods I use.

There are several parts of this discussion that I want to spend a little more time on. Because of that, I've decided to sit down and record my thoughts in audio format. I suspect this will take me 30-90 minutes.

I'm calling it, "Buyer Psychographics: Strategies for Finding Buyers that Consistently Buy."

This in-depth discussion is really only for those who are ready to go deeper. Because of this, I'm inviting everyone to get a copy of the audio file, but requiring that you raise your hand and opt-in.

To receive a no-cost copy of my audio discussion, "Buyer Psychographics: Strategies for Finding Buyers that Consistently Buy," click here now and fill out the simple form that follows.

Click Here to Get "Buyer Psychographics" Now

By Joshua Boswell

Source : www.earlytorise.com

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

The Truth About Your Mistakes

noreply@blogger.com (Home Business) — Mon, 20 Feb 2012 05:17:00 +0000

Extract :

The mistakes of your past are not who you are now. No matter what you've done in your life you have a second chance that starts today. It is your time to choose who you will be and who you will become for the rest of your life. You are certainly not too old or too poor or too busy to add value to the world, to give, create or inspire. If you need to, let the past go and start fresh, right here, right now.

Use Robert Ringer's "Power Equation" from his essay today to turn your mistakes and obstacles into opportunity. http://www.robertringer.com/

Craig Ballantyne

Attitude and desire contribute the most to achievement. Check yours. Are they right for what you want in your life? Believe in yourself and never give up.

Source : http://www.earlytorise.com/

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

The New Economic Order

noreply@blogger.com (Home Business) — Tue, 14 Feb 2012 11:37:00 +0000

With the global economy going to hell in a hand basket (AGAIN), people are scared ...

You see it in the "Occupy Movement" demonstrations taking place in various centers around the world.

You see it in news reports about impending sovereign debt default in Greece, Spain, Portugal, Ireland, Italy and other European countries.

And you see it in the ongoing economic malaise in the United States, where despite one and a half TRILLION dollars in economic stimulus thousands of jobs continue to disappear each month.

What does it all mean?

And what should YOU be doing to protect your livelihood and the financial security of your family?

The First Thing To Realize Is That What We're Going Through Is NOT The End Of The World – Far From It...

It's simply the birthing pains of a bold new economic order... and the death spasms of an old way of doing things that's no longer workable.

You see, at one time it made sense for companies to try and dominate and control every aspect of the economic food chain – upstream through ownership of suppliers of raw materials and parts, for production... and downstream through ownership of the companies that distributed and sold their products to the consumer.

A car manufacturer, for example, gained much through the shrewd acquisition of a tire company, a glass company, and a metal company. Control of these entities smoothed away transactional friction.

No need to spend time researching suppliers. No need to negotiate the best deals. No need for manual paperwork and order processing. No intermediary commissions and sales fees. Less communication and travel costs and fewer legal expenses.

Having a financial interest in the dealer networks that sold the cars also reduced downstream friction in much the same ways.

So companies grew ever larger, employing more and more people. Not only did they seek to integrate vertically (both forwards and backwards) but horizontally as well, buying up competitors in a never-ending quest for "economies of scale".

Stock and bond markets grew to meet the insatiable demand for capital to fund endless consolidation. And governments grew in size too, creating massive social structures to support this model, running up astronomical debts in the process.

Educational systems were geared toward churning out the millions of employee drones needed to staff the global empires that were being built. Students were trained from an early age to fit into the predefined roles demanded by industry, commerce and government.

And people became very comfortable with the notion that their employers and governments were there to look after them. Strength in numbers insulated the little guy from the brutal self-responsibility, endless adaptation and uncertainty of entrepreneurship.

But gradually – unnoticed by most – the transactional friction that gave rise to all of this started to disappear ...

Just twenty years ago, if a New Yorker wanted to speak to a potential business partner in London England, a short ten-minute phone call cost $20 to $30.

If the potential partners wanted to meet face-to-face, one of them would have to spend thousand of dollars and several days in lost productivity to make the trip.

And if a deal was to be struck, it took millions of dollars in capital to bring together the necessary employees, buildings, machinery etc. to compete effectively in the marketplace.

Today, you can talk all day long between almost any two points on Earth, for free.

You can see the whites of a person's eyes across the ocean instantaneously and it won't cost you a red cent.

You can send money to somebody, share documents, or update database records on each other's computers in near real time for pennies.

And you can sell your products and services globally with nothing more than a laptop computer and a few inexpensive online tools and services.

There is no longer a need to integrate people, raw materials, information, and capital, under a large centralized command and control structure.

Now, independent individuals from all over the world can collaborate on an as-needed basis to get the same jobs done – for less.

A Lone Wolf Entrepreneur At Home In His or Her Pajamas Can Now Compete With Full-Fledged Corporations On A Level Playing Field In Many Areas Of The Economy...

Large companies MUST adapt to this by downsizing and outsourcing aggressively. Governments too. And this is why jobs continue to disappear.

This is not a nightmare to be afraid of. It's a miracle to rejoice in.

You now have the power to gain total control of how, when and where you do your work.

Your income, your lifestyle, and your focus can be entirely in your own hands.

And you no longer need depend on forces outside of your control for your livelihood.

Isn't It Time You Took Your Professional Skills And Turned Them Into A Thriving Full-Time Business Of Your Own?

It's way past time! And you know it.

So what's stopping you?

Well, if you're still putzing around at a JOB, chances are you're probably struggling with one or more of these three entrepreneurial blocks:

You Don't Like Selling – As an independent entrepreneur striking out on your own, you wear many hats. The most important hat you will ever wear is that of Chief Marketing Officer.

In business, NOTHING happens until something gets sold. So your first order of business is to become comfortable and skilled at selling yourself and your products and services.

Unless you are already in sales, chances are this frightens you, perhaps even repulses you. If you have a negative view of selling, it must be vigorously reframed, or you're setting yourself up for failure. The world WILL NOT beat a path to your door.

You're Easily Dazzled by Bright Shiny Objects – It's wonderful to be able to leverage web-based technology to engage with potential customers all over the world. You can and should be doing this.

But it's all too easy to become distracted and overwhelmed by the endless stream of whiz-bang communications options available, most of which you do not have the time or the resources to make profitable.

You can spend thousands of dollars building a fancy website, and hundreds if not thousands of hours plugging into a dozen different social media platforms. And not gain a single client for your trouble.

Or you can focus on mastering a simple blog platform and an inexpensive broadcast email service and make 7 figures.

You Lack Mental Toughness – This one goes back to the brainwashing you acquired while you were growing up. Part of the game was to make you feel small, inadequate and dependent on those with capital and resources.

Your parents pushed you to go to school, so you could find a safe, secure pigeonhole somewhere in the establishment. Much of the risk and uncertainty were removed from the equation, or so you were told.

And now, you find the self-responsibility and independence of thought necessary for entrepreneurial success terrifying. You fear rejection and failure, and find it hard to maintain the iron willed resolve you need to succeed in the face of inevitable set backs and adversity.

We all face the same challenges on our respective journeys to entrepreneurial independence. Your mission is to begin kicking them to the curb.

By Daniel Levis

[Ed Note: Daniel Levis is a top marketing consultant, direct response copywriter and publisher of the highly acclaimed home study course, How to Quit Your Job And Double Your Income – The Fastest Way to 6 Figures and Beyond, As an In-Demand Coach, Consultant or Freelancing Pro... Click here to register for a free web workshop. No Credit Card Required.]

Source : http://www.earlytorise.com/

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

The Triple D Strategy for Success

noreply@blogger.com (Home Business) — Wed, 01 Feb 2012 13:48:00 +0000

On any given day, most of us dedicate time to our children, spouses, careers, friends, charities, churches, parents, siblings, clients, household activities, and, oh yeah, if there is a little extra time left in the day, ourselves.

So why is it that only a select few of us can make it look easy... while so many look like they have been run over by a tractor trailer?

The answer is simple.

Most busy people don't evaluate the project or the task at hand before they begin. This holds true whether they are working on their business lives or on their personal/family lives.

Instead of taking a hard look at the task or project, they simply try to get it done. They do whatever it takes.

But unfortunately, the price they pay is very high.

They sacrifice special moments and milestones with their kids. They risk losing the closeness and tenderness of their spouses. They even jeopardize their own health. They take on all these hardships in order to prove that they are "superparents". And to add insult to injury, in the end, they often miss their deadlines, fail to properly complete the project, and neglect their spouses and children.

Why do they do this to themselves?

Because all of our lives we have been told they have to multitask. You have heard the old mantra, "if you want something done right, you have to do it yourself" about a million times. And you don't want to appear inferior.

If this sounds remotely familiar, I need for you to make yourself and me a significant promise.

You need to vow here and now that you are ready to read this issue in its entirety and apply my Triple D Strategy to your life starting today.

This strategy is so powerful that you will have an immediate sense of accomplishment and fulfillment.

When done correctly, it will allow you to have more free time and make more money in your business. Your friends and family will notice immediately that you are not stressed and moody. But most importantly, your "happiness meter" will be heading in the right direction – up.

And here's the really beautiful part – it is so simple!

Allow me to introduce my Triple D Strategy.

Ditch, Delegate, and Duplicate

When you start to evaluate every project or task that you THINK has to be done and done by you every day, you will soon find that the task could fall into three possible categories:

1) Ditch: This is extremely important if you have a hard time with simply saying "no." Most are unable or unwilling to say that a task is not important enough for their time or anyone else's. Look: we all have the same 24 hours in a day – no more, no less. So why is it that we sometimes feel that we should accomplish 28 hours' worth of tasks in a single day?

In order to turn down a task, just ask yourself the following question: "What will the result be if nothing is done about this project?" This makes your decision very easy. And when you are completely honest with yourself, you will find that 20% to 30% of the things you spend time on don't need to be done at all!

2) Delegate: The art of delegating relies on finding the right person whose strengths are YOUR weaknesses. You need to do what you do best. Not spend time and energy on tasks that you are not particularly good at or that don't excite you. Your time and energy should be spent on your natural gifts; things that are innate and that you love doing. You should apply this rule at home and at the office. For example, I'm not particularly good at building websites; this is something I delegate to team members. At home, I don't enjoy cleaning my house. This is a task I delegate to a cleaning woman who comes to my home and – believe it or not – loves to clean.

Because I do not spend my time on tasks like these, I get to devote that time to tasks that play to my strengths. At the office, my strengths are marketing and content creation. At home, one of my strengths is helping my kids with their homework. These are things that I am very good at and I love doing.

3) Duplicate: Have you ever wished you had a clone? I sure used to! Now I have several. Being able to make more money and have more free time comes down to doubling, tripling, and quadrupling your output without YOU doing the actual work.

The reason so many people don't duplicate is because they don't understand the correct way to do so. Most people think, "I will never find anyone as good as I am." Here is the beautiful part – you don't have to.

You see, you must simply find different people who can do specific tasks as well as you can. So perhaps you need to find three or four people. These people need to share some of your qualities. You need to check your ego at the door and strive to find people who have the ability to be as good as and even better than you are.

If you write all of your promotional copy, make all the affiliate deals, and develop all your products, you need to find three duplicates: One person to write the copy better than you do now while maintaining your voice and style. One person to cultivate new affiliate deals. This person should have your vivacious personality and be extremely outgoing (if these are your personality traits). And one person to develop products – someone who has even bigger ideas and the ability to get the products completed faster.

These are three simple things that you can implement TODAY. But they only work if you do them and do them right.

In the name of full disclosure, you should know that while this Triple D Strategy will help you immensely in your quest to balance your work and personal life... It's not the only proven, easy-to-implement technique you can use to create a happier, more productive, more balanced (and richer!) life for yourself.

By Mary Ellen Tribby

[Ed. Note. MaryEllen Tribby has created the site, www.WorkingMomsOnly.com, as the leading website and newsletter for the empowerment of the working moms. Her mission is to supply the tools that can give EVERY working mom the ability to lead a healthy, wealthy, and more balanced/blended lifestyle. To create a community where millions of working moms from all over the world come together in support and celebration of each other.]

Source : http://www.earlytorise.com

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

The Magic of the Free Day

noreply@blogger.com (Home Business) — Sun, 08 Jan 2012 12:52:00 +0000

My mother retired in 2004, and since then she's been as busy than ever, but doing the things she's always wanted to do with her time off (volunteering, seeing more plays and concerts, etc.).

But you don't have to wait until you're retired to do these things. Today, Dan Sullivan shows you how to have more magical free days in 2012, even if you run your own business.

Craig Ballantyne

"Fulfillment comes from a life of meaningful achievement and from being present in each moment while moving in the direction we most want to move." – Peter Bregman

Free Day™ Breakthrough
By Dan Sullivan

A Free Day™ is a 24-hour period free from all work-related thinking, communication, and activity. In all my years of coaching entrepreneurs, Free Days™ are the change they most often thank me for helping them make. They help you stay creative at work, keep you physically and mentally healthy, and deepen your relationships with the people in your life who matter most.

Even if you know all this and agree with it, when you're under pressure or facing unexpected upheaval, you might start thinking of Free Days as a luxury that's hard to justify. That's why it's important to regularly reinforce the Free Day habit, consistently protecting them and taking them, because Free Days are the last thing you should give up in tough times.

When people "fall off the wagon" and begin losing the productivity gains they've made, it usually starts with compromising their personal free time. It may start innocuously with, "I'll just get this one thing done," then gradually slide into a state of living in a "Reactive Zone" where each new thing becomes even more complicated because they have no new energy for dealing with it.

The flip side of this experience is using Free Days to make sure as much of your work time as possible is spent in the "Creative Zone" where things seem easier, your relationships are more enjoyable and helpful, you've got lots of new ideas, your actions are effective, and you're doing all this without creating new messes.

The three biggest obstacles to taking Free Days are panic, guilt, and confusion:

•Panic: "I'll take Free Days when this is all over."
•Guilt: "How can I take a vacation when my team has to work?"
•Confusion: "What will I do if I'm not at work?

Let's look at each of these three:

"I'll take Free Days when this is all over."

Of course, it's never over – there's always something you could be doing for your business. The most successful entrepreneurs, however, evolve out of being "Rugged Individuals" who do everything themselves, and learn to delegate, empower others, and focus on doing what they do best.

These skills become even more important when emergencies happen. Besides, when you go too long without taking Free Days, everything starts to seem like an emergency. Driving this feeling of panic is the notion that, should you step away, there would be a complete catastrophe. In our experience, though, stepping back creates simplicity.

"How can I take a vacation when my team has to work?"

By starting your own business and raising it to its current level of success, you've taken risks and poured a lot of yourself into the company. Your team members (who get weekends, annual leave, and statutory holidays off) haven't made this kind of investment, so it's perfectly appropriate if you're rewarded differently. And if you really want to be of service to your team members, remember that you're far more valuable to them when you're fully rejuvenated and present.

Entrepreneurs ask us, "How can I get my team to work on their own, without having to constantly come to me?" Leave from time to time, that's how! When you're not there, your team members get a chance to catch up and to learn how to make decisions and take action independent of you.

"What will I do if I'm not at work?"

This is the biggest obstacle for many entrepreneurs. Work is rewarding–you're good at it. You get things for being good at it. The rewards in other parts of your life might be less tangible or measurable, and you might not be as good at them. Consistently going back to work–either physically or mentally–can quickly become a habit.

My experience from working with thousands of entrepreneurs is that one-dimensional people are vulnerable to losses in other areas of their life, such as deteriorations in their marriage or health. And paying exclusive attention to work isn't even a good business strategy, since business ultimately becomes the only thing you know. Creativity always involves an element of novelty.

No matter how much you love your work, there are always other realms in life that can give you opportunities to use your capabilities. And what's all this success you're building actually for if not to provide you with a rich life? Free Days are an investment in your future happiness and productivity that you won't regret.

Strategies for taking great Free Days.

It takes some practice to get the hang of Free Days, and, like diet and exercise, they need to be an active part of your life, not just something you know would be good for you. Luckily, the practice is its own reward!

Here are some strategies that really work:

1) Schedule your Free Days in advance.

As you look over the time ahead, try to schedule Free Days just before periods when you know you'll need to be your most productive. Think of it this way: one vacation, one breakthrough; two vacations, two breakthroughs; and on and on.

By booking your Free Days in advance, or even putting someone else in charge of your Free Days, you save yourself from having to justify or negotiate them with others–or yourself–at the time.

2) Do what you really want to do.

Don't make your Free Days just a different set of obligations, spending the whole day doing things for everyone but you. You might be rejuvenated by spending time on your own, or by being surrounded by other people. You may enjoy high-energy activities or quiet time. For some, a natural environment is a soothing break from our technological civilization.

Whatever you choose, it's important that it's consistent with who you are and what you need. If you're planning Free Days with friends or family members, involving them in the planning will ensure that you come up with something everyone enjoys.

If you're stuck for Free Day ideas, check in with your lifetime goals, and see if there's anything you can do that will move you closer to them. Or you might want to start small and achieve something you've been meaning to get to for a long time.

3) Let your team members help you.

Your team members can see when you're tired, even if you haven't noticed yourself falling into that state. When it seems like they're not understanding you or that they're just not "getting it," that's a sign that you need Free Days–and they have a vested interest in helping you take them! Their results depend on your creativity, for one. And you can be sure they prefer working with the rested and rejuvenated version of you.

4) Train your clientele.

There are two ways you can wean your clients and customers off having constant access to you. First, help them understand that Free Days mean that when they do get to be with you, you will always be fully charged and present with them.

Second, in certain areas, your team members have specific talents that actually enable them to take better care of these clients and customers than you can. So, in presenting this change, you can reassure your clientele that you're leaving them in the hands of a specialist. If they're properly introduced to this concept and the transition is smooth, their experience of your business can actually improve:

Getting less of you personally can be an opportunity for them to get more of the value they come to you for.

Do one thing.

If you don't already have a Free Day strategy in place, just start where you are and do one thing–book a single Free Day, brainstorm about locations or activities for your free time, or have a conversation with your spouse or friends about something you could do together. All that matters is that you do something, however small, to start developing the Free Day habit.

The most successful entrepreneurs manage to achieve a balance between their personal and professional lives. If you consider that balance an important part of your lifetime goals, Free Days can provide a crucial strategic tool for making sure you attain it, and that you enjoy all the freedom your success affords you.

[Ed. Note. Dan Sullivan is the president and co-founder of Strategic Coach®, a global organization that has helped tens of thousands of entrepreneurs grow their businesses exponentially while enjoying an exceptional quality of life. He is the author of more than 30 publications on the subject of entrepreneurship.]

Source : http://www.earlytorise.com/

Disclaimer...The comments, products and services are owned by the poster. We are not responsible for their contents.

A Self-Made Millionaire's Guide to Dealing with Debt

noreply@blogger.com (Home Business) — Sun, 25 Dec 2011 17:46:00 +0000

I had my first serious run-in with debt when I was 30 years old.

My wife K and I were renting a condominium in Washington, D.C. Our landlady came to us with an exciting opportunity: We could buy the condo for $60,000 with no money down. For just $100 a month more than what we were already paying for rent, we would be paying a mortgage. It sounded like a great deal, so we took it.

What we bought was a negatively amortizing mortgage with a three-year term and an 11% interest rate. That meant, every three years we were paying $19,800 in debt service and another $3,000 in closing costs.

We didn't realize what was going on because our monthly payments were only $550. I was too foolish then to ever ask myself, "What is the cost of this debt?"

I tried to find another bank to take me out of this scam but none would. The mortgage we had signed was not backed by the government (Freddie Mac/Fannie Mae), which meant that no other bank would touch it.

I learned that when banks make it easy to borrow money, it's not because you are a nice, deserving person. I learned that if you can get a loan despite poor credit (as ours was at the time), there is usually a scam involved. It also taught me to always ask the two critical questions about debt, "How much will it cost?" and, "Can I afford it?" It was an expensive lesson.

Many of us view debt as a necessity. We buy homes with it. And cars. And boats, and toys, and vacations. Some use it to buy the basics: clothes, food, and furniture.

Debt is not necessary. It is a luxury. Sometimes debt is useful. Sometimes it is wasteful. But debt is always dangerous.

It is unnecessary because there are always less expensive ways of getting what you want. And it is dangerous because it can sometimes be very expensive.

Let me give you two examples.

Let's say that, like most Americans, you are in the habit of buying things with credit cards. After a while, you notice that you have accumulated $30,000 in total debt. You decide to cut up your cards and repay your debt. You can devote $400 a month to paying it back. How long will it take, and how much will it cost you?

The answer may surprise you. Assuming an interest rate of 10%, it will take you 10 years to pay off the credit card debt. And your total payments will be $47,275. Of that, $17,275 will have been in interest payments.

Or let's take a $150,000 home on which you take a $120,000 loan with a 6.5% interest rate over 20 years. The mortgage payments are $894 a month, which you can afford. But how much will that house really cost you? Including interest payments? You will end up paying $244,725 for that house. Almost 40% of that – $94,725 – will have been to interest payments.

The commercial community (bankers and manufacturers) doesn't want you to be afraid of debt. And neither does the government. These institutions want you to like debt. They want you to use it. They want you to go into debt because it is good for them.

When you take out a mortgage to buy a home, or sign a lease on a car, or use credit cards to pay for your lifestyle expenses, the commercial community profits. The manufacturers make money on products you may or may not need. And the banks make money on your debt.

The mainstream financial media rarely talks about the dangers of debt. That's because they make their profits from the financial institutions and manufacturers whose advertisements support their publications.

And the government actually encourages its citizens to take on debt. This was the recommended strategy for getting us out of the Great Recession that the (second) Bush administration (and the Federal Reserve) advocated and it's the same scheme that Obama's people are advocating today.

Here's what you should know about debt:

As a general rule, you should live without it. You should find less expensive ways to acquire the things you need.

Unless you are wealthy, don't lease your car. Buy it. Buy the car you can afford, not the car you believe will make you happy. Any non-appreciating asset (such as a car) will never make you happy if you have to pay its debt service. I didn't buy my first luxury car until I was a multimillionaire.

Don't buy anything with a credit card. Keep only one credit card for renting cars. Use a debit card to buy clothes and groceries. If you don't have enough money in your bank account to use your debit card on a purchase, don't buy it. If you don't have enough money in the bank to buy something, it means you can't afford it.

If you can't afford the debt on your house, sell it (if you can) and buy something cheaper. In any case, start paying off the principle balance of your house (the amount you owe, not the interest you will owe) as fast as you can. Make it a goal to own your house free and clear as soon as possible.

If you have debt, pay it off as fast as you can, but not before you have filled up your bucket for emergency savings. By emergency savings, I mean money you will need to pay your bills if you lose your job. Six months' income is what some financial advisors recommend. I'd recommend a year. It may take you that long to replace your lost income.

Pay off your debt even if the interest rate is low. In theory, you should put your extra money elsewhere if you can earn more on it than you are paying in interest. If, for example, you can get 4% in municipal bonds and you have a student loan at 2%, it makes more sense to buy municipals bonds and pay your student loan off slowly. But in reality, the extra 2% you are earning on the spread is not worth the risk in carrying the debt.

When I started earning money, the first thing I did was get rid of that terrible loan on the condominium I told you about earlier.

The next thing I did was pay off the mortgage I took on a home. I paid it off in two or three years, even though it was a 30-year mortgage. I loved the idea of owning my home free and clear. So I put every extra dollar I had toward paying down that mortgage. The bank didn't like it, but the day I tore up that mortgage... I felt like I had been emancipated from financial slavery.

Finally, if you are troubled by debt, know this: you can get out of it just as I did.

[Ed. Note. If you're not happy with your financial situation, you're in the perfect position to change it for the better – right now. At The Palm Beach Letter, we can show you how. For the equivalent of a tank of gas or a dinner out ($49)... you are getting a whole year of realistic investment and wealth-building advice. Click here for details.]

By Mark Ford, editor, The Palm Beach Letter

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5 Steps To A Retirement Plan

noreply@blogger.com (Home Business) — Mon, 21 Nov 2011 14:27:00 +0000

Old age financial independence is the ultimate goal of retirement planning. Whether you are a twenty-something year old student or the parent of a young adult, the process of ensuring that you have sufficient funds to maintain a desired standard of living through the "golden years" is worth considering. Naturally, depending on an individual's stage in life, the planning process will be different and contingent on one's unique circumstances. Basic guidelines exist to help assist people in creating their retirement plans. These guidelines will either form the premise of a self-directed retirement investment strategy or can be used to help guide the investment process of an external financial professional.

TUTORIAL: Introduction To Retirement Plans

1. Time Horizon

Current age and expected retirement age create the initial groundwork of planning a retirement strategy. Firstly, the longer the time horizon between today and retirement, the higher the level of risk that one's portfolio can withstand. The negative effects of return volatility are mitigated with a long term time horizon. Secondly, stretched periods of retirement portfolio accumulation must factor in inflation. A 64-year old who is planning on retiring next year does not have the same concerns regarding inflation as a much younger professional who just entered the workforce. Thirdly, although it is typically advised to begin planning for retirement at a younger age, younger individuals are not expected to perform the same type of due diligence regarding retirement alternatives as someone who is in their mid-40s.

Finally, and most importantly, a longer time horizon breaks up the overall retirement plan into multiple components. For example, a parent may wish to retire in two years, pay for their children's education when they turn 18 and then move to Florida. From the perspective of forming a retirement plan, the investment strategy would be broken up into three periods: two years until retirement (contributions are still made into the plan), saving and paying for college, and living in Florida (regular withdrawals to cover living expenses). A multi-stage retirement plan must integrate various time horizons along with the corresponding liquidity needs to determine the optimal allocation strategy. (The future may seem far off, but now is the time to plan for it. Check out 5 Retirement Planning Rules For Recent Graduates.)

2. Spending Requirements

Having realistic expectations about post-retirement spending habits will define the required size of the retirement portfolio. Most people argue that after retirement their annual spending will amount to only 70-80% of what they spent previously. Such an assumption is often proved to be unrealistic, especially if the mortgage has not been paid off. Since, by definition, a retiree is no longer at work for eight or more hours a day, they have more time to travel, go sightseeing, shopping and engage in other expensive activities. Accurate retirement spending goals help in the planning process as more spending in the future requires additional savings today.

Similar to the need to create a breakdown of multiple-time horizons, the time-specific spending needs must be determined as well. For example, a retired couple might determine that they will spend around $50,000 per year on basic life expenses while alive; actuarial life tables are available to estimate the longevity rates of individuals and couples. However, if the couple wants to purchase a home or fund their children's education, those outlays have to be factored into the overall retirement plan. Establishing the regular and miscellaneous spending estimates at the beginning of the process should help in ensuring the suitability of the portfolio allocation.

3. After-Tax Rate of Return

Once the expected time horizons and spending requirements are determined, the after-tax rate of return must be calculated to assess the feasibility of the portfolio producing the needed income. One of the biggest risks an individual can face is having their retirement portfolio be depleted too early. This is referred to as longevity risk, the risk of living too long and thus outliving your investments. A required rate of return in excess of 10% is normally an unrealistic expectation as low-risk retirement portfolios are largely comprised of low-yielding fixed-income securities. If, for example, an individual has a retirement portfolio worth $400,000 and income needs of $50,000, assuming no taxes and the preservation of the portfolio balance, they are relying on an excessive 12.5% return to fund retirement. A primary advantage of planning for retirement at an early age is that the portfolio can be grown to safeguard a realistic rate of return. Under the same assumptions as above, but using a gross retirement investment account of $1,000,000, the expected return would be a much more reasonable 5%.

Depending on the type of retirement account you hold, investment returns are typically taxed. Therefore, the actual rate-of-return must be calculated on an after tax basis. The above discussion omits the impact of tax implications in order to simplify the analysis. However, determining your tax status is a crucial component of the retirement planning process.

4. Portfolio Allocation

Whether it's you or a professional money manager that's in charge of the investment decision, a proper portfolio allocation that balances the concerns of risk aversion and return objectives is arguably the most important step in retirement planning. A somewhat common segregated approach breaks down spending objectives into multiple allocation components. Required fixed expenditures such as college tuition are funded with risk-free treasury bonds. Using the figures from the above example, a mandatory tuition outlay of $100,000 would be segregated from other portfolio assets, thus reducing the actual retirement portfolio to $900,000. This remaining amount would be invested in "normal fashion" to produce returns that match the expected cost of living expenses.

"Normal fashion" has ranging definitions for different people. Although retirement portfolios are generally focused on either domestic blue chips or fixed incomes, depending on one's risk tolerance, international investments and small caps may be included. The proportion between the assets will also vary from person to person, especially when the time horizon until retirement is considered. Stable dividend paying stocks are also popular for retirees as these investments provide a consistent tax-efficient income stream.

5. Estate Planning

Having a proper estate plan and life insurance coverage ensures that your assets are distributed in a manner of your choosing and your loved ones will not experience financial hardship following your death. A carefully outlined will also aids in avoiding an expensive and often lengthy probate process. Despite that estate and retirement planning are separate financial responsibilities, requiring the expertise of experts in different fields, the two procedures must be considered in tandem with one another. In other words, a well-defined estate plan complements a thoroughly structured retirement plan.

A substantial retirement portfolio indicates a decreased demand for life insurance, yet a greater emphasis on vigilant estate planning. Because a large accumulation of financial assets can be passed on to the family of the deceased, the financial impact of funeral costs is mitigated with a hefty inheritance. However, if a parent wishes to leave assets to either their family members or even to a charity, the tax implications of either gifting the benefits or passing them through the estate process must be compared. A common retirement plan investment approach is based on producing returns which meet yearly inflation-adjusted living expenses while preserving the value of the portfolio; the portfolio is then transferred to the beneficiaries of the deceased.

Conclusions

Retirement planning should be focused on the aforementioned five steps: determining time horizons, estimating spending requirements, calculating required after-tax returns, optimizing portfolio allocation and estate planning. These steps provide general guidelines regarding the procedures required to improve your chances of achieving old age financial freedom. The answers to many of these questions will then dictate which type of retirement accounts (defined-benefit plan, defined contribution plan, tax-exempt, tax deferred) are ideal for the chosen retirement strategy

One of the most challenging aspects of creating a comprehensive retirement plan lies in striking a balance between realistic return expectations and a desired standard of living. The best solution for this task would be to focus on creating a flexible portfolio which can be updated regularly to reflect changing market conditions and retirement objectives.

We'll show you how to choose between Roth IRAs, Traditional IRAs and 401(k)s. See Which Retirement Plan Is Best?

by Arthur Pinkasovitch

Arthur Pinkasovitch is an Analyst at Investopedia and is currently a CFA level 3 candidate. His investment focus is centered on energy and commodities as well as applying basic economics principles to everyday investment analysis. Arthur teaches introductory corporate finance at a local college and is part-owner of a Russian Grocery Store. You can follow Arthur on Twitter.

Source:
Read more: http://www.investopedia.com/articles/retirement/11/5-steps-to-retirement-plan.asp?partner=basics111811#ixzz1ePeraRJq

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FIVE INVESTMENT TIPS

noreply@blogger.com (Home Business) — Thu, 17 Nov 2011 08:24:00 +0000

what’s the best way in getting and filtering Market News and Financial Information?

1.Don’t rely on any one source.

2.Identifying a few you like and make sure that they offer different points of view. Try to read them regularly.

3.Read and listen to stuff you agree and disagree with; it’s good to know what other people in world are thinking – right or wrong.

4.Reading the same thing more than once doesn’t make it right. But take note.

5.Be aware of what you’re not reading or hearing. What’s missing from the news?

Best of Luck

Source : miscellaneous

Disclaimer…The subject matters expressed above is based purely on technical analysis and personal opinions of the writer. it is not a solicitation to buy or sell.

Internet Business Tips For Easy Management

noreply@blogger.com (Home Business) — Thu, 04 Nov 2010 08:51:00 +0000

Will you set goals more than plans? Or will you carefully plan rather than set your goals? In an online business, careful planning and goal setting is inseparable. That is why you should choose to absorb strategies from the internet business tips for easy management. If you own a business and have not tried using internet as your media for product promotions and rendering online transactions, you might as well give it a shot. Business and corporate websites, whether owned by an enterprise or of an individual, could greatly give twists for your business to demand more than internet basics.

Today, you do not need to sign up for a business management course, because internet business tips for easy management are highly accessible. Now, you can start up a business with reliable guidelines that will help you improve your management skills. This way, you will be challenged to learn on your own with the unlimited resources over the internet.

Internet business tips for easy management comes in many different forms such as e-books, forums and other information over the internet. There are available electronic books that could guide business entrepreneurs to learn and incorporate business concepts. On the other hand, one good thing is that e-books on the net are more updated than hard-printed books. Dominantly, internet itself can be considered as the most reliable bank of resources, where different websites can give answers to your questions as you will try to join forums or read certain articles. Essentially, an organization trying to compete with other businesses should be considered and must be given importance because of its money making potentials. And with the burgeoning industries on the internet, the only way to stand out among others is to be equipped with knowledge that could improve reliability and efficiency of your business. http://tonydraper.net/ Internet business tips for easy management could help your business more productive. Out of these, you will learn to promote your business through websites, expand your negotiations worldwide, give more opportunities for careers, maintain relationships with the valued customers, and deliver services from afar. Possibilities will just conform to your eagerness in learning the internet business tips for easy management. In time, you will gain a business with enhanced interactivity and a rising popularity on the web. And successfully, many investors will discuss their business prospects and other related issues. By then, from internet business tips for easy management that you tried to understand, all your efforts will be recognized through your profits and internet itself will become your large advertising platform.

by LUCY ANDREWS

About the Author

LUCY ANDREWS is a marketing guru and director of http://www.tonydraper.net, which specializes in internet business. Visit us and get internet marketing free ebook download today.

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Don’t Do It Alone! A Successful Home Business Is Not A One Man/woman Show!

noreply@blogger.com (Home Business) — Wed, 27 Oct 2010 16:47:00 +0000

Even if your home business is a sole proprietorship with no employees you don’t have to shoulder the entire burden of management and operations yourself. You can and should think bigger in terms of leveraging other people to keep your business moving forward at all times.

Many people, when they think of their own home business, envision a one man/woman show where they as the owner literally do everything. This is the fast-track to fatigue, frustration, and failure.

Think about this:

Does a military General man every position himself? Of course not, he has an entire network of personnel to handle the appropriate positions.

The truth is if you have any ambition at all fulfilling your dreams of success will require far more productivity than you can handle on your own.

‘But Tim’ you might say ‘I can’t afford to hire a staff I’m just getting started here!’

That is perfectly understandable. But the good news is you don’t have to hire employees.

All you need is a solid outsource network.

It doesn’t take big money to assemble a great network of vendors and service providers who can help you maximize your production and tackle multiple crucial tasks without losing your mind in the process.

As you already know there are many crucial tasks involved with running your business in a profitable manner. Website development and management, product creation, advertising, customer/member support, and planning your marketing strategy are examples of things that may need to be addressed each week. All of these operations are vital, but some are menial.

Is it really a good use of your time to build and edit Web pages? If you’re not a professional Web designer then the answer is probably `No’.

Is it cost-effective for you to handle every email and phone call your office receives on issues of general customer support? If you do any sort of decent sales volume again the answer is `No’.

Is it smart use of time for you to be involved in the planning of this month’s marketing strategy? You bet.

There are plenty of qualified professionals you can pay to build graphics and Web pages, and to run an online Help Desk. But when it comes to making decisions about the future of your business and investing in good advertising or educational opportunities you definitely need to be involved.

These are all loose examples I’m using to build a point. And my point is, you should spend your time doing things related to your business that nobody else can do, and be willing to delegate less crucial assignments to qualified vendors.

A few more examples?

A certified public accountant can balance your books for you.

A professional copywriter can tackle your sales letters.

A programmer can install dynamic scripts on your Website.

But only you can plan your next project or series of projects.

Only you can decide to add a new service array to your list of offers.

Only you can deliver a personal message to your subscribers, members, or customers.

Are you beginning to see where I’m headed with this? By assigning appropriate tasks to your outsource network you can focus more effectively on those areas which create more profits for your business.

And if you are willing to spend some time looking and negotiating, you will be able to find the right people for every task that you wish to outsource. I recommend finding one or two vendors for each task and using these providers on a regular basis.

For instance find one or two Web design companies to handle all your template work, and find one or two writers to handle all your copy needs. By finding regulars for your outsourced labor you’ll be able to build an ongoing relationship with your vendors and avoid the hassle of finding somebody new each time you have a need.

Once a good relationship is formed you could end up getting a volume discount, or at the very least feeling comfortable that you have a reliable agent for every project that comes along.

Some people find it hard to ‘let go’ in the beginning. I admit it can be difficult to start trusting others with your business operations, and of course there is the financial commitment. But I assure you once you have a quality outsource network in place you’ll be amazed by how much more productive and profitable your company becomes.

About The Author: Tim Whiston is a professional Internet marketer who enjoys his work. He has owned numerous Websites and ezines and has created hundreds of thousands of dollars in profits for his clients. Be sure to check out his Information Marketing Course: http://info-marketing.timwhiston.com

Please use the HTML version of this article at: http://www.isnare.com/html.php?aid=213946

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Investing in Gemstones

noreply@blogger.com (Home Business) — Sun, 10 Oct 2010 11:29:00 +0000

A Closer Look at the Pros and Cons
In an article, I read how a rich contractor died owing a large tax bill and didn't have enough cash in his estate to settle it. However, he had a large collection of several hundred colored gemstones. His family, who'd always whined about him spending so much money on his gem collection, decided to send his collection to auction at Sotheby's. A few weeks later all the stones were returned except for three stones, the largest of which weighed less than 1 carat. What were these stones? They were colored diamonds. Sotheby's had sold them to a billionaire for way over a million dollars. More than enough to pay the deceased's tax bill. And what's even more amazing is that the deceased had only spent twenty thousand dollars to purchase the stones on retail. What his estate received was a colossal appreciation in value, wouldn't you agree? This article will investigate the pros and cons of investing in gemstones.

But before I dive straight into this, there's something I want to point out to you. Oftentimes referred to as a dirty term, "investment grade," although not illegal a term, has been used and abused by fraudulent salespeople and is frowned on by the US Federal Trade Commission for the same reason they frown on "precious" and "semi-precious." If you plan on becoming a dealer, don't use this term. It can instantly ruin your reputation. Usually applied to high-end gems, the term investment grade does not necessarily mean the gems are the best investment. Gems that are of lesser value oftentimes appreciate more and are a lot easier to liquidate. That said, the well-informed would invest in low to moderately priced gems.

On average, it is not uncommon to mark-up a low-priced gem five times or more. Whereas you couldn't do that with high-priced gems, profit margins are usually far lower in comparison. Typically, as things get more expensive, the mark-ups tend to get lower. Unlike alexandrite, where a 25% mark-up on a $30,000 piece would be gladly accepted, diamonds, whose market is very competitive, mark-ups can drop below 10%.

When investing in gemstones, the difference between wholesale and retail is your profit - and the greater your chance is of making a profit when you buy low. Not to mention, it is also easier to find buyers for lower priced goods.

In summary: investing in colored low-priced gemstones is the fastest, most assured way to make a profit. Market trends are unpredictable, hence it is advisable that if you're going to buy, buy at a low-as-possible price. Mark-ups on low-priced stones can quite easily exceed five times, but on the high-priced items like diamonds, it can go below 10%. Before making that investment, take a closer look at the pros and cons. Ask questions. Do some research on the current market trends, and be extra cautious. It may take years for your purchase to yield a profit – like it did the rich contractor I mentioned in this article – so make sure, at any cost, that you buy low.

Published At: Isnare.com Free Articles Directory - http://www.isnare.com/

Permanent Link: http://www.isnare.com/?aid=618126&ca=Business

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Top 5 Reasons Why Home Based Business Owners are "Killing It" Even in the Recession!

noreply@blogger.com (Home Business) — Thu, 30 Sep 2010 05:15:00 +0000

Ever wonder why or how home based business owners are now making more money than ever in this industry? Even in the economic demise we're living in?

Let's take a look at a few things.

Whenever people have a problem, where do they go for answers? To the internet!! And with SO many people affected by the recession, they turn to someone on the internet to show them a way to make some extra money from home.

Here are the Top 5 reasons:

Reason # 1 With so many people taking their businesses to the internet, they are suddenly becoming the person that has the answer for another one's problem. They can provide that solution for income opportunity seekers to make some money from home and become an entrpreneur.

The home based business industry has also shifted their focus on pitching and selling products to more of an internet marketing approach. As you may have figured out, it's all about the marketing for businesses to be successful!

Reason #2 Another reason why the home based business industry is booming is the implementation of systems that help home business owners to leverage their time.

Systems like this can allow for the "heavy lifting" so that the business owner has more time to do other things. The business can run on autopilot if set up right.

Reason # 3 Getting better quality of training. The internet marketing millionaires are now providing the exact training that they have implemented and are making it available for struggling home business owners. They've made their millions selling their products and services, and now they sell their training courses to make even more money and to leverage their time too.

This training allows new members to duplicate the success of the internet marketing millionaires.

Reason # 4 More and more home businesses are 'system dependent' instead of 'sponsor dependent'. Meaning, if a new member has a question or wants to know where to start with their business, they can plug into their own "back office" to get the answers and receive more training provided by top producers etc. This helps eliminate the "whiners" and allows the sponsor to have less headaches!

Reason # 5 Value driven content and in demand products. We're seeing less and less network marketers selling juices, lotions, and pills. The internet marketing home business owners now market products that are in more high demand and and considered in the high ticket direct sales category.

They market items that may have $300, $1000, or $3,000 commission instead of the tiny checks from selling a juice. This allows the home business owner to make the money they want! Not sell 200 juices a month to make the mortgage payment!

So as you can see, these are some very different reasons why the home business industry is booming! The Direct Sales industry has taken over the MLM industry. Direct sales offers a more high ticket item that produces a higher commission and residual income. Internet Marketing is the BIG reason why home business are now more prosperous than ever! They know how to leverege the internet to bring peope to their business!

And there's NO recession on the internet! Forbes Magazine predicts that 79 million people will have some sort of a home business for themselves! With the economy not getting any better, this number may be higher!

That's alot of people! So it's very important to get yourself in front of these 79 million people, because they may be looking for YOUR business. Now won't that make things easier?

Current home based business owners know this and that's why they produce massive profits from this.

The future is on the internet. The future is owning a home based business.

I appreciate your time, Greg Schmidt

by Greg Schmidt

Posted 2010-09-21

About the Author

Greg Schmidt is an Internet Marketing Entreprenuer who shares the system needed in order to run a profitable home business using the internet marketing strategies to leverage the internet in your favor. Access this information by Logging In at http://www.AtHomeWealthCreation.com/?t=goarttop5

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Becoming an Entrepreneur

noreply@blogger.com (Home Business) — Thu, 23 Sep 2010 02:56:00 +0000

Creating a Network of Solutions to Build Success

We all have those ideas that can make something better. Why not turn them into reality? Here are some steps to turn something small into something bigger to help bring in the big dollars.

It takes a special person to be entrepreneur. You need to have passion, drive, motivation, and the means to make it a reality. What's the process? First you get an idea, quickly followed by brainstorming and working out the kinks of the plan. Then it's time to begin creating the product or service.

Then you market. Online marketing is growing and popular because it's necessary these days. If you want to build success online, you can make a website builder work for you, helping you launch your online business. Once you begin marketing online, you can work to make your original idea as profitable as possible with activities that help you get those sales.

Growing Your Network of Solutions

The seed: It's the random thought you have to make something better. You at first think it's iffy...surely someone else has already thought of this. But it lingers in your mind, and you think about it some more. Ideas are like seeds. The more you think about them, the more likely they will take root and slowly grow.

What kind of ideas are we talking about here? It could be anything. Is it an improvement of something already in place? A new invention, perhaps? Or do you want to branch out on your own and start a business using your unique talents and skills? The beauty of an idea is that it is full of possibility. And with a healthy dose of determination and drive, you can turn that idea into something very profitable.

Brainstorming: With dedication, passion, and drive you can turn your idea into something that will bring in the green, and it starts with brainstorming. Because you initially have so many random thoughts, free writing is a great way to capture every detail. So grab a pen and a journal and start writing. Keep a note pad with you because you never know when you'll get an idea. The idea behind free writing is that you don't worry about what "makes sense" or what "might really work." You don't worry about which step you'll take first or how you'll manage the details. You just jot down random ideas. You can organize these thoughts later.

As the flow of random ideas begins to slow down, you can begin the process of organization. At this point, it might be easier to create a Word document of all your ideas so you can move them around more easily to come up with in an order that fits. During this organizing phase, feel free to group your thoughts however you want and rearrange until you have a clearer vision of your plan.

Roadmap: So how do you transfer brainstorming to dollar signs? You create a business plan. This includes a product description, market analysis, competition assessment, marketing, sales, possible manufacturing, and finance. A business plan is your roadmap. It will require some more thought and a bit more of a commitment on your part. A thorough business plan can steer you to the green. Even if your approach is informal, you need to completely detail each aspect of the plan because investors and clients will respond more favorably when all bases are covered. You have to be able to clearly describe what you plan to market-benefits, what problem it solves for the consumer. Knowing exactly who your potential customers are can help you direct dollars most effectively. And last but certainly not least, knowing how much you really need to start and continue operating is a must when approaching investors and setting sales goals.

You're in Business
Load up on carbs and stay hydrated. You're going to need lots of energy to turn your idea into a reality. You are now an entrepreneur, and hard work comes with the territory. So as you set the foundation for your new business, keep focused and continue working hard.

Getting Found Online: Surely you've noticed that almost everyone has a website. If someone wants a product or service, they search for it first. Having a website is imperative if you want to compete in today's market. You can actually do this yourself. You'll end up with a basic website, but at least your product or service can be found online. Most free websites and Web hosting packages are free with a website builder. And website builders allow you to use a template to create your website and are designed to be easy enough for children to navigate. Once you have your template set up, you just add your text and images, and you're set. You can get more technical by adding widgets and nifty tools if you want. And eventually, you can opt for a custom design as budget allows.

Reaching Your Customers: As you created your business plan, ideally you were able to gain an understanding of your market. Now it's time to use that knowledge to increase sales. Who is your target market? What solution do you provide to them? How will they find you online and or in your local community? If you begin building a marketing plan to attract new buyers and increase your sales, know that these plans are evolving. What doesn't work you can toss out. What does work you can build on. Part of your marketing approach will be your customer service strategy. How are you going to keep current customers and attract new ones? Since most consumers turn to the Internet, it helps to know which sites your target audience uses the most to find the type of product or service you're providing.

Before You Know It: Yes, it does take time to grow a business-you know that. It will be a roller coaster, that's for sure. You'll have lots of highs, times when things seem to be going perfectly. And other times will require more patience. No matter what happens as your business "grows up," you should be proud. You took an idea and worked to turn it into something amazing.

by Andreea Townsend
About the Author

Andreea Townsend is a copywriter for Network Solutions®, provider of Web marketing solutions that help small businesses and aspiring entrepreneurs succeed with Web hosting, SEO, PPC, free websites and more.

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Why You Shouldn't Be Scared of Silly Ideas

noreply@blogger.com (Home Business) — Mon, 13 Sep 2010 05:41:00 +0000

It was an experimental wine that Thierry had been working on...

He thought it had potential, so he decided to share it with Guy.

He poured two glasses. They sipped it.

After they'd both appreciated it for a few minutes, Thierry declared in heavily accented English...

"Now zat iz what you call a phet best-ard!"

And so the wine -- and Thierry's winery -- was named.

The point: Don't be afraid of silly ideas...

That's the advice Paul Arden gives in his book It's Not How Good You Are, It's How Good You Want to Be.

And it's advice that I agree with big time.

Fat Bastard wine is just one example of a silly idea that turned out to be very successful. I mean, who in their right mind would call a wine Fat Bastard?

Yet, it worked brilliantly...

In just six years, it became an international success, selling hundreds of thousands of cases. In fact, the brand was described by BusinessWeek as a "marketing phenomenon."

I actually remember first seeing a bottle of Fat Bastard in a Tesco in Grimsby a couple of years ago. And I'm not surprised it's stuck in my memory...

Imagine looking along your typical supermarket wine shelf. There's Chateau This and Chateaux That -- and then, right in the middle, there's a bottle of Fat Bastard!

It's an absurd name -- almost juvenile. But attention-getting... and unforgettable.

Arden quotes John Cleese as saying:

"High creativity is responding to situations without critical thought."

That's what happened with the wine... Thierry and Guy weren't thinking critically when they decided to name the wine. They just went with it.

I bet there was a lot of critical thought afterward, as various "suits" undoubtedly told them it was a silly idea. But they stayed with it, and ended up with a hit on their hands.

Using Silly Ideas to Solve Your Problems

Arden also talks about how "thinking silly" can help you overcome a mental block...

This resonated with me, because it's something I often do if I get stuck. You're faced with a problem at work and you need to come up with a solution, but your brain just isn't firing.

It happens to us all, right?

You sit there trying to figure it out, but you end up going round in circles.

The problem remains.

One of the reasons your brain might not be firing properly is because you're being too critical of yourself... You're so concerned with coming up with the right solution, first time, that you're blocking your brain.

As Cleese said, "creativity is responding to situations without critical thought." So, you need to dump that critical thought and start thinking freely, start thinking "silly."

Arden's approach, here, is two-fold...

First, he recommends doing the opposite of what the solution requires...

And second, he recommends looking out the window and using whatever catches your eye -- be it a man in the street, a television aerial, whatever -- as a possible solution to your problem.

Both ideas sound strange, but it's exactly this kind of illogic that shakes up your brain and gets it thinking about your problem -- and its solution -- in a different way.

So whenever you're struggling to come up with a solution to a problem you're facing...

By Glenn Fisher

Follow Paul Arden's advice and start "thinking silly"... Your silly idea might just turn out to be the best one you ever have.

[Ed. Note: After studying business, economics, politics, and creative writing -- and working for many years in local government -- Glenn Fisher joined Shortcut Publications as the editor of their flagship publications, Shortcut Bulletin and Shortcut Confidential. Glenn has developed a loyal following by helping and inspiring his readers to achieve personal and financial freedom. To receive Glenn's free, daily e-letter, go here.

And for more help coming up with and developing your own "silly" business ideas, come to ETR's biggest event of the year, our Info-Marketing Bootcamp. Glenn Fisher and the team from Shortcut Publications come every year. And they're joined by hundreds of industry experts, Early to Rise readers, and small business owners eager to learn the next steps they should take to get their online ventures booming. Find out all about Bootcamp here.]

The "Be Here NOW" Success Technique

Recently, I observed a training session for the employees of one of my clients. When a couple of the attendees started goofing around, Lisa, the woman running the session, raised her voice and said: "People -- this was paid for by your employer. You are on company time, and I intend to maximize the use of that short time we have together. So please work with me and be here now!"

"Be here now." That phrase -- referring to the awareness of not only being in the moment but staying in the moment over an extended period of time, free of distractions -- struck me as being very much in tune with the overall goal achieving process.

Here's how to apply it to your goals:

Rule #1. Concentrate on defining your objective.

What do you want to accomplish? What matters to you? Why do you want to achieve that particular goal?

Rule #2. Concentrate on one part of your goal at a time.

Break down your ultimate goal into smaller chunks. Keeping on eye on the big picture is great. However, you have to focus on the individual steps that will get you there.

Rule #3. Concentrate on controlling your situation.

When focusing on those individual steps, control your natural tendencies (we all have them) to drift away from the task at hand and/or stop trying if it becomes too challenging or takes too long.

Rule #4. Concentrate on completion.

To achieve any goal, you have to make a commitment to reach the finish line. Strengthen your resolve and keep yourself motivated by visualizing the end result -- how excited you'll be and how great you'll feel when you reap the rewards of your hard work.

By Bob Cox
[Ed. Note: Bob Cox is a success coach who can help you achieve goals in every area of your life: professional, social, personal, and beyond. Check out his program here.]

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4 Steps To Making Your Home Business A True Automated System

noreply@blogger.com (Home Business) — Fri, 27 Aug 2010 05:32:00 +0000

You hear it al the time if you have been involved or are involved in the home business or internet business industry:
‘You need a system to succeed.’
I like to take this a step further. You not only need a ’system’, but in order to get the most out of your home business opportunity, you need to have an Automated System. To take that even one step further, your Automated System must hit your prospects from EVERY angle in order to achieve the highest levels of prosperity.
Here are four techniques that if used on all of your prospects WILL increase your earnings with ANY home or internet business opportunity.

Step 1: Create a ‘capture’ or ’squeeze’ page.

Even if you have no idea what this is, you have almost certainly seen a capture page and even been ‘captured by one. A capture page is simply a page that is set up to give some brief information about a product or service, but then requires the prospect to enter their info to get the full details. It is often a teaser or hyped up page to get the prospect to want to know more. The most effective capture pages touch on the prospects personal or financial needs compelling them to find out more by filling in their information. Once they do, you own their information for life and can continue to follow up with them or contact them about other offers of services you have no, or develop in the future. Capture pages are a MUST to start building your list that you will be able to promote any product or service. A great program that allows even the most novice person to create capture pages in minutes is Lead Page Generator.

Special note: NEVER LOSE YOUR LIST OF CAPTURED NAMES, ADDRESSES, EMAILS, ETC.

Those that are highly successful in any home business or internet opportunity have a list of thousands that they have built over the years. Any time they have a new product, service or opportunity to promote they send it out to their list first. This gives you a big head start and if your products, services and opportunities have been successful in the past, your list will follow you everywhere.

This all leads into the second technique to creating a totally automated system, email auto responders.

Step 2: Follow up with prospects via email

This is the easiest and most recognizable form of follow up. When creating a capture page, all you have to do is tie the information form into an auto responder. This can be done very easily using services such as aweber. Now, when a prospect fills in their information, you not only get to keep their information for your list, but now you can follow up with them daily, weekly, monthly without having to lift a finger. Of course, you have to write your email follow up messages ahead of time, but once you have them completed, you are following up with your prospects over and over while doing no additional work.

While email is a nice tool to make your system automated, it is far too often the ONLY tool people use. This is a huge mistake. Fact is, that email follow up and marketing is becoming far less effective due to spam laws and people filtering their email accounts.

In order to reach as many people as possible, you need to come at them from different angles.

Step 3: Follow up with a voice broadcasting system

Voice broadcasting gives you yet another method of following up with prospects. It is an awesome tool and as of late has been sort of the ‘new email.’ Because email is getting caught by filters and spam control features, it is necessary to try and reach prospects using other methods. Outside of email, voice broadcasting is the easiest and least expensive means of following up. In addition, voice broadcasting can keep your system totally automated. You can record a simple message or series of messages, collect the prospects phone number on your capture page and then simply set up your voice broadcasting software to call them once, weekly, monthly or whatever you choose. There are lots of services to use out there. Goldcalling, voiceshot, probuilderplus, and protus are just a few.

Step 4: Postcard follow up

Direct mail is by far the most forgotten means of follow up, but often the most effective. Postcards are a terrific way to make sure that your prospects hear form you. By simply collecting their mailing info on your capture page, you have set yourself up to use an incredible tool that will definitely help increase your sales and income.

There are a couple of services that allow you to set up a direct mail campaign to work just like an email auto responder. The best service in my opinion is PostCardAutoresponder.com. You can input a prospects mailing address and set up a campaign that will send them a postcard once, twice, weekly, monthly, or whatever you choose. Just set it up once and forget it. You can contact a prospect for an entire year on autopilot . You can even create custom postcards for any business , service or opportunity.

If you use that simple 4 step plan to create an automated system for your business, you will definitely increase sales and income. Plus, you will not only have an automated system that works for you while you are doing the things you enjoy, but it will be one that contacts prospects from every angle so they are sure to get your message early and often. Remember, it is not always enough just to have a system. You need to have an automated system that you can plug each prospect into that will run itself while you focus on building your business.

About The Author: Copyright 2006 — Nick Bramble. Article may be reprinted if left as is, including all text and links. Learn more about how to run your home business using a 100% automated system. http://www.myautomatedwealth.com

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3 Steps To Starting A Home Business

noreply@blogger.com (Home Business) — Sat, 31 Jul 2010 11:47:00 +0000

This little article will give some proper ideas for you to be able to choose and start a very profitable and enjoyable Home Business.

With so many different kinds of opportunities that can be found, it can be quite confusing on just how to make this whole Home Business phenomenon work for you, and earn you much income.

So, in order for you to prosper with your own business here are 3 steps you should always follow in order to make it all work for you.

#1 - Choose the right product or service to offer your future customers. It should be something you are comfortable with,plus having some knowledge of the product or service will be to your advantage. You will naturally have to do some research to help you with this.

In order for your Home Business to be enjoyable you must be able to pick a product/service that will work for you. Then your aim will be to earn money — ask yourself if this is the perfect product or service for you.

HOW DO YOU DO THIS? - Simple.

Choose the product or service that gets you excited.

Yep, that’s it. Make sure that you are happy with your choice, then you can honestly offer it to your buyers who will also be happy too.

This way,you will be able to get behind your decision and put your best effort into making your Home Business a true success for your future income, and you will have happy customers, too.

#2-Use time tested and proven marketing techniques.

Do not try to ‘reinvent the wheel’.

You MUST use proven techniques that have been tested to give your Home Business the very best results. Your buyers will want these results too!

Some of these are: Place little inexpensive classified ads in newsletters, newspapers, magazine etc. As well as using powerful and professional sales letters that are simple and to the point.

#3-Be Professional.

You must give the impression that your Home Business is not some hobby or passing idea. Remember, this is YOUR business and you will have to stay motivated. Do not forget also that there will definitely be some competition to be expected - you will have to deal with this also.

You are what you put into your Home Business. You may have to get a business license, and register with the BBB (Better Business Bureau). Also register your own domain name.

You may need to get some nice inexpensive letter head for correspondence. Even in these hectic times, people still like to receive letters on nice letter heads - they will appreciate your thoughtfulness.

So, there you have 3 ingredients that when used properly will surely build for you a profitable and very successful Home Business that can and will make you very proud.

In closing, let me also point out that a business will need some work on your part. As mentioned above, this will not be a hobby or a 1-minute passing idea, so be prepared to spend some time and energy to get your business up and running - SUCCESS WILL FIND YOU!

About The Author: Bona Koenig has a website that could help you to earn multiple streams of income easily using 3 easy steps. To find out more on how to start using this fantastic opportunity yourself, visit: http://www.HomeBiz4Income.com

Please use the HTML version of this article at: http://www.isnare.com/html.php?aid=198942

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10 Dumb Ways to Start a Business

noreply@blogger.com (Home Business) — Tue, 11 May 2010 07:54:00 +0000

and Waste a Ton of Money at the Same Time

Here's just a short list of the misguided (and even ridiculous) business start-up advice I've read recently:

Create an instant-impact message that describes the chief benefit of your business. Put it on business cards and brochures.

Hand out hundreds of those business cards and brochures at business functions and meetings.

Find a great office space and fill it with furniture.

Take a field trip to discover how your product or service will satisfy people's desires.

Protect your "great ideas" by registering your business name, logo, and slogan.

Create a paper trail -- tracking all meeting dates, attendees, and discussions.

Consult a lawyer and get his or her advice on how to set up the right legal structure for your business.

Check with your municipality to make sure they permit you to operate a venture like yours out of your home.

Buy business insurance and "talk to an accountant or attorney" to make sure you're not missing anything.

Get a toll-free phone number (to give the impression that your business is much bigger than it really is).

If you do these things before you find out whether your product can sell... your business is practically guaranteed to fail.

Entrepreneurship is based on selling. You test the market with a product you think will sell well. If it does, you keep selling. If it doesn't, you try something else.

This approach lent its name to my most recent bestseller, Ready, Fire, Aim. The main point of the book is that to start and grow a small business, you must have a pragmatic, action-oriented mentality. Rather than spend too much time and money refining theoretical ideas, you develop a prototype quickly and then see if the market will buy it.

As I said in the book, for every business that fails because of poor planning there are a dozen that never get off the ground because of too much planning.

The Ready, Fire, Aim approach obviously doesn't apply to surgical procedures and rocket science. But it will be very useful for 90 percent of the new-business ideas you are likely to come up with.

Want to start a business selling diamond-studded collars for kitty cats? Fine. There are two ways to go about that:

You can spend most of your time and money designing and manufacturing a line of such collars -- and only after that is done, start to think about how you can sell them.

You can make a single collar, go down to your local flea market or neighborhood pet shop, and see if you can find a customer for it.

Most people start businesses the first way. That's why most businesses fail.

But with the Ready, Fire, Aim approach, you devote 80 percent of your initial resources to discovering an efficient way to sell the product. Once you have done that, you have found the key to successfully market it. With that key in your pocket, you don't have to worry about all the other problems that will arise in the natural course of business. You won't have to worry, because you will be able to create the one thing that can solve almost every business problem: cash flow.

Here, in a nutshell, is what I mean by Ready, Fire, Aim...

Ready: Get your product idea ready. Make it good enough to sell. Don't worry about making it perfect. There will be time enough for that later.

Fire: Start selling it. Sell it every way you can. Test different offers. Test different ad copy. Test different media. Keep testing until you discover something that works. This is what we refer to as your Optimum Selling Strategy (OSS).

Aim: Expand your customer base by focusing on your OSS. As your customer base grows, develop business procedures to accommodate that growth. Hire the best people you can to manage your business. Discover, through "back-end" marketing tests, other products and services that your customers will buy. Use those discoveries to refine and perfect a fast-selling line. As this back-end business flushes cash into your company, invest a good deal of that cash into front-end marketing.

Ready, Fire, Aim doesn't mean you are willing to be sloppy. Nor does it mean you are willing to sell second-rate products to your customers. On the contrary, Ready, Fire, Aim is the only truly practical way to find out what your market really wants from you.

And for a small business, Ready, Fire, Aim is the best way to get from good to great.

Think of it this way: When we say we have "a great new product idea," what do we really mean? When I say that, I mean I have a strong feeling that the product will sell well -- that it will be a big, commercial success.

But the truth is, I have only a hunch about how well my idea will do. Experience has taught me that my hunches are often right... but not always. If I spend too much time and energy on a business based on conjecture, what happens if my assumptions don't pan out?

What happens is that I'm left with nothing -- no money or materials or energy -- to start over again. The essence of entrepreneurship is the ability to try and fail and then try again. You can't do that if you blow your wad the first time you try.

So nowadays when I get the feeling that I have a great idea, I figure out how I can test that idea as quickly and as cheaply as possible.

Once I know the idea has "legs," I can roll out a sales program. And once a successful sales program is underway, I can refine and improve the product. The truth is, I can never perfect a product in isolation. I used to think I could, but, once again, experience has taught me the arrogance of that kind of thinking.

To get from good to great, you need the help of superstar employees and, most of all, feedback from your customers. The best customer feedback comes not from surveys or focus groups but from marketing results. Find out what your customers want by selling things to them. This gets you back into the Ready, Fire, Aim loop.

If I had to pick one thing -- one characteristic or quality of my work that is most responsible for the success I've had launching businesses -- I'd have to say it was this Ready, Fire, Aim mentality. It's something I believe in strongly. That's why I wince when I read the start-up advice of so many "experts" who advocate feel-good busywork over selling.

Again, here's my advice for starting a business:

1. As soon as possible, get the product ready to test.

2. Test it as aggressively and creatively as you can. Spend 80 percent of your initial resources discovering the most cost-effective way to make the first sale (your Optimum Selling Strategy).

3. Refine and adjust your sales process as market conditions change. At the same time, gradually develop business procedures to service your customers and improve your products according to their buying preferences.

By Michael Masterson
https://web-purchases.com/LSL/ELSLL502/landing.html?o=96851&s=98526&u=42336630&l=111812&r=Milo

[Ed. Note: There's a TON of foolish business advice floating around the Internet and in bookstores. But you can get proven, time-tested recommendations for starting and growing a business (from someone who's built dozens of businesses himself) in Michael's New York Times, Wall Street Journal, and Business Week bestseller Ready, Fire, Aim. And now it's available FREE. Get all the details here.]

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Seven Deadly Sins To Avoid

noreply@blogger.com (Home Business) — Sat, 24 Apr 2010 06:51:00 +0000

Want Lots More Sales? Avoid These Seven Deadly Sins

The first sin is being slow to get to the point.

Weak beginnings kill sales. Signs of a weak beginning are being slow to mention the main benefit and incentive. (You don't offer an incentive? Shame on you. Incentives always, if they are relevant, increase sales by more than they cost.)

Your incentive should be impossible to ignore. Its purpose is not merely to persuade people to reply, it is to encourage them to read.

Research by Ogilvy and Mather, done 20 odd years ago, found that if you get people to read the first 250 words of your copy, 70 percent of them will read all of it. So a weak beginning loses your readers when it matters most.

Copywriters seem to have minds like old auto engines, which needed to be warmed up for a few minutes. They often put in a couple of paragraphs of waffle before they get to the point. Maybe it's fear of being rejected when they do.

You will often find that you can edit the first three paragraphs down to two without losing any meaning, but gaining in "attack." On a surprising number of occasions, you will also find that the best place to begin is round about paragraph three.

Your job is to communicate as fast as possible what you're are talking about. Prospects don't have time to work out our clever ideas or subtle approaches. Remember, they have only one thought in their minds: "What's in it for me?"

The second sin is forgetting there must be something for your prospect at every point in the message.

The reader's eye may turn first to the letter, the brochure, the order form, or some other piece in the mailing. Their eyes hover over an ad before they start to read it. And they skip around e-mails and landing pages.

Certain elements -- headings, illustrations, videos, and captions -- attract the most attention. So make sure your most prominent benefit and your incentives are boldly featured wherever that reader's eye might land.

Don't worry about repetition. Just vary the way you make the point each time.

The third sin is failing to do a complete selling job.

You must give every sensible reason why your reader should respond -- and overcome every reasonable objection they may have.

Years ago, when my agency had the Reader's Digest record account, I noticed that if we did not list every tune in a compilation ad, we lost sales. Everyone looked for their favorite tune. If it wasn't there, that gave them a reason not to buy -- and vice versa. Omit nothing relevant!

The fourth sin is failing to prove that what you say is true.

As David Ogilvy once said, "Why should anyone take the word of an anonymous copywriter?" Which is why you should always include testimonials in your marketing copy.

If you don't have a testimonial file, start building one. It's easy: Just ask your customers to tell you what they think. You can ask them to rate your product/service on a scale of one to five, or from poor to excellent. By doing so, you can then say something like "78 percent of our customers rated this good or excellent."

When using testimonials, it's a good idea to show photos of the people who wrote them, and even their signatures. Or show their letters in the original handwritten or typewritten form. This makes them more believable. It doesn't matter if your testimonials have spelling or grammar errors. In fact, that may make them even more convincing.

The fifth sin is not showing enough people.

I've lost count of the number of times I have looked at visual treatments of copy and suggested: "Why don't you put pictures of people in it?" People look at people.

For example, in the ads for our client INSEAD -- the world's most expensive business school -- I included a picture of the associate dean. We found that when it was omitted, response dropped by nearly half.

The sixth sin is wasting money on unnecessary elements.

Every word, every picture, every piece of paper, every element of a mailing must contribute to the result. If you can't see what job something is doing, take it out. You are wasting your money and your prospects' time.

Many mailings include the traditional letter, brochure, envelope, etc., where the brochure is only there because people think there should be one. Sometimes a letter without a brochure will do just as well -- or even better.

One famous example: an insurance company that sent out a mailing every year that included a beautiful brochure featuring the prospect's horoscope. It was timed to arrive on the prospect's birthday. One year, they forgot to put in the brochure... and response went up by 25 percent.

Another example: I changed a mailing for a loan company by taking out two brochures. The response doubled, while the cost of the mailing was reduced by 66 percent.

A brochure costs money -- and the higher the cost of the mailing, the harder it is to make a profit.

Some of the most successful pieces I've written -- particularly in the financial and business-to-business fields -- have contained no brochure. They were simple letters, perhaps even more persuasive because they seemed somehow less commercial.

The seventh sin is a weak ending.

Every element in any mailing, ad, e-mail, landing page, or commercial has to be good if you are going to get results -- but two are more important than the others: the opening (which I have already covered) and the close.

You must make it easy for your prospect to respond. American Express once enjoyed a 30 percent uplift in sales in a highly competitive market, largely by making the application easier to fill in.

The close should be powerful and persuasive, and should repeat all the reasons why your prospect ought to reply, including the offer. If you don't get every single person who is slightly interested to respond, it's a shame. You got them this far. NOW's the time to cash in.

One important weapon, originally developed by Reader's Digest, is the yes/no technique - getting people to choose. I have never seen it fail to increase response. You get more no's than yes's, but you get more yes's than you would have gotten without it.

Remember that you can have more than one call to action -- in fact, the more the better. Have one early on for people who don't need much persuasion. Then keep asking in different ways.

All of the above may sound simple and obvious. But then, most of the things that make big differences in business are.

And please don't think I'm being a know-it-all. I still make these silly mistakes -- but that doesn't mean you have to.

[Ed. Note: Veteran copywriter and direct-marketing strategist Drayton Bird has worked with American Express, Ford, Microsoft, Visa, Procter & Gamble, and scores of other clients during his five-decade career, which included a stint as international vice-chairman and creative director with Ogilvy & Mather. In 2003, he was named by the Chartered Institute of Marketing as one of 50 living individuals who have shaped today's marketing.

Ready for more marketing insights from Drayton Bird? For 101 ideas, free case studies, and articles on direct-marketing topics like the one you just read, and a 28-day free trial of Drayton's Commonsense Marketing Series, go here.]

http://www.draytonbirdcommonsense.com/introducing-cmm-free-trial

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Are You Already Marketing On The Internet

noreply@blogger.com (Home Business) — Mon, 22 Feb 2010 06:15:00 +0000

Take a moment to think about how you would really answer this question. If given enough thought just about any business owner who utilizes the Internet for any purpose will likely find that whether or not they intentionally organized an Internet marketing campaign, they may already be marketing their products and services on the Internet. This article will examine some subtle ways business owners may already be marketing their business on the Internet.

Do you have a website for your business? Business owners who answer yes to this question are already marketing their products or services online just by virtue of the fact that they have a website online. Having a live website means there is the potential for curious Internet users to access your website. You may not be actively promoting your website but you may still find that your website generates interest in your products despite the lack of promotional endeavors; this is a form of passive marketing.

Do you participate in message boards and include a link to your website in your signature? Again business owners who answer yes to this question are already marketing their website online. Savvy business owners realize the importance of participation in industry related message boards to create an interest in their products and services, establish themselves as knowledgeable about the industry and offer a link to their own website even if it is in the signature line of their posts. However, even business owners who do not realize this may already be inadvertently enjoying the benefits of Internet marketing which result from message board participation just by doing something they enjoy and may be doing as a form of leisure activity.

Do you include keywords which are relevant to your business in the content of your website? Business owners who answer yes to this question are also already marketing on the Internet by optimizing their website for these keywords. These search engine optimization (SEO) affects the websites whether or not they were even aware of the concept of keyword density and how it can help to SEO a website. Business owners will likely use certain words often depending on the type of products and services they offer just because it is natural and logical to do so. This tendency, however, can result in search engines boosting your website rankings for these particular keywords. The concept of SEO is much more involved and complex than simply using keywords frequently but business owners can gain some benefit just by naturally applying relevant keywords to their website.

Do you solicit feedback from your customers online? This is yet another example of how business owners may be accidentally marketing their business on the Internet. Most business owners realize the importance of soliciting feedback from customers for business purposes and business owners who offer products online might solicit feedback in the form of online surveys. Although the business owners may be doing this simply for a business purpose the fact that it is done online makes it fall into the category of Internet marketing.

We have already discussed several ways in which business owners may already be marketing online but what about business owners who want to have an increased online presence? Business owners who may already be marketing online accidentally may wish to launch a full scale Internet marketing campaign. The best way to do this is to hire a consultant with experience in Internet marketing to assist you in creating a campaign which is effective for your target audience.

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A Thing or Two on Search Engine Optimization

noreply@blogger.com (Home Business) — Fri, 29 Jan 2010 07:49:00 +0000

This concept may confuse people, especially when they hear about search engine optimization and website optimization. First off, web site optimization is the method of decreasing the web site size and complexity in order to maximize the performance of the website. Website optimization can also include search engine optimization, pay per click optimization, and conversion rate optimization, wherein it gets more traffic and sales as part of your overall site redesign procedure. So basically, search engine optimization is a part of website optimization where a number of tactics are used to make the web pages more attractive to search engines, and also to enhance the site to make it more search engine compatible.

Generally, search engine optimization tactics are critical, since one can get traffic for free. With optimizing the site, one can achieve the same number of visitors, even more, and all without paying for advertising. It is important for site owners to check the website rankings on a regular basis, especially when it comes to the top search engines and directories. According to researchers at Forrestre Research Inc., online users rarely go beyond the top thirty search engine rankings just for a single search. In addition to this, the researchers found out that most Internet consumers find websites through several mediums, such as search engines (of course), links from another site, guessed URL, online advertising, television, radio, direct mail, and viral marketing, or word of mouth.

However, search engine optimization provides special features that are low risk, reliable, cost effective, all with constant results, brand awareness, and affordability. By using this method of optimization, any business can deliver their message to the broadest and most targeted audience. Search engine optimization can help the user find their way amongst the competition, because of the websites good ranking, thanks to the optimization process.

When considering optimizing any website, take into account several things that are essential for a website to become successful. First, one should start from the title tag, since all the search engines recognize the keywords it contains. These keywords greatly affect the ranking since search engines give them a great deal of weight in their ranking system. It is also important when one's title tag appears in the SERP, or the search engine result page. Keep in mind that the interests of real people and the search engines are the same, so the title, with the help of the right keywords, should be attractive enough for the online consumers as well. Adding to this, there is also the description tags, the content, the quality of the website, and the link popularity, since this influences the site with regards to the search engine ranking process.

by Corazon Padol
submitted 2010-01-27

About the Author

SEO Brand Media is composed of a team of professional internet marketing consultants with a strong focus on Search Engine Marketing. We offer SEO services, Consultancy, Pay Per Click Management, Website Maintenance and Web Development.

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Where to Find Affiliates For Your Niche Website

noreply@blogger.com (Home Business) — Mon, 18 Jan 2010 15:10:00 +0000

Making Money with Articles: Where to Find Affiliates For Your Niche Website

To make money with articles that you place on websites, you will also need a variety of good affiliate links that will help to generate revenue. It is important that you know where to find affiliates and that you choose the best affiliates for you and your niche site.

When you pick an affiliate, it is important that you determine which companies you will profit best from based on the frequency that the product is likely to sell. There are several types of affiliates and some will offer you more money from a sale than others will. Before you get hazy-eyed by dollar signs, however, remember some products are bound to sell more than others. If you sell on product four times a year from a little known company that gives you $100 per sale or sell a well known product 3 times a week at the rate of $10 per sale, then you will make much more money with the $10 per sale product. Often times large well known companies will offer a very small profit per sale because they are established and know that their product is likely to sell well. Small, unknown companies, on the other hand, need all of the promotion they can get. Also, because they are unknown, their products are likely to sell less frequently.

The most important rule when picking affiliates to promote on your site is to pick products that would be of interest to those who would likely visit your niche site. Otherwise you will be promoting a product to a group of people who do not even want nor need it. If your niche site targets parents of young children, then promote baby products. If you niche site targets gardeners, then promote gardening products. If you promote baby products to gardeners, you are almost guaranteed to not make a profit no matter how much money the affiliate company offers for a sale.

Lastly, there are two main ways to find an affiliate company for your niche website. You can sign up with a company that manages the accounts of hundreds of companies, big and small, and apply for the products within these accounts or you can do a web search for companies that would match well with your niche, visit their websites, and see if they advertise an affiliate program.

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