Motivational Quote of the Day

“The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather in a lack of will.” — Vincent T. Lombardi

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The American Dream – The Minimalist Way

Sunday, April 4th, 2010 at 11:25 AM  
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the art of being minimalist I find it interesting how the internet works.  I truly believe it’s the new American Dream.  I am a second generation immigrant born and raised in Canada.  My parents did the “follow the American Dream” thing but made a slight detour to the north…choosing Canada instead.

For my parents the dream came true.  Despite not having an education they came, they worked, they overcame challenges, they persevered, and they prospered.

The other day, I got an email about a guy name Everett Bogue who decided to simplify his life and started a blog that chronicles his journey of no longer keeping up with the Jones’.

Living in the capital of consumption (New York) this brave soul decided to toss it all away…he quit his job, sold off everything that got him committed to the treadmill of modern living.

For most people reading this…the natural assumption is disaster in the making.  On the contrary, Bogue has found the new Dream…the passive income lifestyle.

In about six months he replaced his day-job income and now lives the life that everybody dreams of…one that is free of needless consumption and the financial burden that comes with it.

Everett’s book is titled The Art of Being Minimalist and you can preview the first 30 pages free.

There is one common element that I have found with successful people and in this case Bogue is no different.  It’s not about the money…it never is.  It’s about what you can give of value.  If you give enough…eventually you will get something in return.  In some cases it’s fame, a following, a feeling and it can also be fortune.  So…How do you get from giving?  Take a quick read of Everett’s Free book titled “How to Create a Movement”

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Discover Simple But Rarely Used Secret To Supercharge Your Sales

Saturday, April 3rd, 2010 at 2:07 PM  
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There’s a great myth out there lurking that prevents the masses from using the video method to generate sales.  When in fact creating an effective sales video is easy.

Turn on the TV late night and you’ll discover a whole new world of marketing…Infomercials.  The proliferation of infomercials can only mean one thing….THEY WORK!

They can be 15 second spots to full 30 minute productions and if you study enough of them you will begin to notice a formula.  Actually a couple of formulas.

Since most people out there are afraid of making videos…adopt this video strategy TODAY and gain a competitive advantage.

Formula # 1

A-I-D-A – which is an acronym for ATTENTION – INTEREST – DESIRE – ACTION

Check out any fitness based infomercial like P90X for example.  P90X grabs your attention and interest in several ways:

  • Want to get ripped in 90days? – who wouldn’t
  • Before and after shots of ordinary people….key that…ordinary people just like you and me.
  • Video interview testimonials of the very same people – making it very real and attainable.

All of the above done correctly stimulates action…it gets the viewer emotionally involved…subconsciously the viewer is placing themselves in those ripped bodies…this subconscious emotional tie is what gets people to buy.

The other hidden formula is the sales formula that many successful people use.

Generate rapport…couple of ways P90X does this:

features Tony Horton a leading expert in the fitness field.

features ordinary people..helping the viewer find common ground i.e. yeah…my body looks like that…after 90-days my body can look like that?

Uncovering needs – finding commonality with the viewer…struggling to get to the gym, plateauing, not seeing any results from existing fitness regimen etc

Meeting the needs – features people sceptical about p90x and gave it a try

Getting the sale – minimize risk of buying…i.e. if you’re not satisfied with P90X return it for a full refund in 30 days.

Now that you know the formulas.  What do you need to get started?

A Computer…of course,

Presentation software…like PowerPoint or a free one using Open Office,

A converter program that can convert your slides to jpeg format,

Windows Movie Maker which is Free on most newer Windows based computers,

A microphone to record audio.

That’s it you now have the formulas and ingredients to create amazing videos that

will sell.

If you want to check out an example…click on the following link to see a video on perpetual income streams.

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Filed under: Entrepreneurship • General Internet Marketing • Getting Started

Warning! These 8 Limiting Beliefs Will Derail Your Success On eBay

Sunday, March 21st, 2010 at 11:00 AM  
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Are you stuck in a rut?  Are you wondering why some people are super successful on eBay while you struggle?  The problem could be due to your limiting beliefs of eBay and what it’s good for.

Oftentimes, one’s success or lack thereof can be due largely in part to limiting beliefs.

Here are some common perceptions about eBay that can have a negative impact on your success.  Do you have any of these?

  1. One item up for auction gets me one buyer.
  2. The more auctions I have listed on eBay the more profit I’ll have.
  3. If I sell an item on eBay for less than my cost I’ve just lost money.
  4. My success on eBay depends on my ability to find tons of unique products that I can sell at maximum mark-up for as large of a profit as possible.
  5. An eBay auction is where I sell one item.
  6. If someone clicks on my eBay auction for Product X all they want is Product X.
  7. After I sell the “junk in my closets” I really don’t have much I can sell on eBay
    without making a large investment in this business.
  8. I’m too busy to have an “eBay business.”

I find that many of the above beliefs are singular in nature…to many it’s the simple way of looking at things.  To become successful at anything one must look beneath the surface.  Like the tip of the iceberg…the mass is below the surface…that’s where all the answers are.

Dig a little deeper into auction sites you’ll find they can be a perfect catalyst to building a great business.  Below are 8 thoughts about eBay auctions that may transform your mediocre business into a raging success.

  1. One auction can bring me potentially hundreds of new buyers before, during and after the auction is over.
  2. I only need a handful of auctions to make as much or more money than people listing several times more of the same items than I’m selling.
  3. If I just lost a little money on an auction that’s OK, I got several new paying
    customers anyway or I grew my customer base for future sales.
  4. My success on eBay depends on my ability to attract *hits to my auctions and supply those shoppers with multiple buying opportunities and also turn those shoppers into lifetime customers.
  5. An eBay auction is my chance to turn hundreds of browsing eBay customers
    into lifetime customers who buy products from me on and off eBay.
  6. A shopper looking for Product X on eBay is very likely to also be interested in
    free or fee based information on Product X, a book about Product X, a newsletter on Product X, and products similar to Product X. We also know that they are likely new to eBay and may want help getting to know eBay.
  7. Finding an endless supply of profitable items to sell on eBay is SIMPLE and ANYONE
    can do it with minimal effort.
  8. You can start with as little as a few minutes per week and grow your business at
    any rate you choose.

If you need more help pick up a copy of what’s been regarded as one of the best eBooks ever published on eBay at www.jimssilentsalesmachine.com.  Now in it’s 6th edition it has become more than just an eBay book.  It has evolved into a book of business ideas and opportunity.  Written by Jim Cockrum, the book details the step-by-step process of using the power of eBay to build an online empire.

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How a Little Known Technique Can Produce Consistent Sometimes Massive Auction Profits

Sunday, March 21st, 2010 at 10:05 AM  
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This sometimes forgotten rarely known technique routinely used in financial markets can produce consistent auction returns for you. With a little bit of research you too can profit like Wall Street wizards.

Buy low sell high is a mantra that is often associated with investing in financial instruments such as stocks, bonds and currency.

In the global economy another opportunity that often presents itself in the financial markets is arbitrage.

Arbitrage is defined as:

- a transaction in which an investor buys commodities, funds, mortgages, futures contracts, mortgage-backed securities or other securities in one market and simultaneously sells them in a different market in order to profit from differences in price between the two markets.

-or-

- A method of taking advantage of the fact that there may be different prices in different markets for identical goods such as gold, foreign exchange or commodities. Simultaneously, one buys in the lower price market and sells in the higher one.

Interestingly enough, with enough research you can and will find arbitrage opportunities that exist on auction sites such as eBay.

Did you know that the internet pharmacy craze sweeping the globe was born out of an arbitrage opportunity?

In fact, a small town pharmacist turned virtually an overnight millionaire after stumbling upon an arbitrage opportunity found with Nicorette Chewing Gum. Nicorette Chewing Gum is a stop smoking aid that supposedly helps people kick

the habit by chewing nicotine laced gum. It all started with a test. He found that a pack of Nicorette Chewing Gum was selling for approximately $5-$7 less in Canada than in the United States. At the time, the Canadian/US exchange rate was also extremely favourable to Americans. Buying $1 worth of Canadian goods only cost Americans 65 cents. In the case of Nicorette Gum this amounted to a double- whammy of a deal for Americans. Combine this with a huge demand in the United States…this small town Canadian tested his way into a huge money making business.

What started out to be a low risk test…buy a pack of Nicorette Gum…post it on eBay…see if it sells. Ended up being a 150-200 packs a day seller. The profits were roughly $3-$5 per pack…doing the quick math this was a $200,000 a year business!

This is just one example of how you can benefit from arbitrage.

How do you spot these opportunities…RESEARCH! Look for high demand items and price them out in different countries. Find out if you can source them cheaper in your home country to sell in another country. In some cases the exchange rate differential is so great that you could pay retail in your home country and still make a profit by selling into another country.

In the current US/Canadian exchange rate climate I know that cars are a big opportunity. For example, in Canada a 2010 Corvette Coupe sells for $67,050 that exact same car in the United States sells for $48,930. Almost a 20 GRAND difference! Now this opportunity maybe a bit cumbersome for most…but the point is there are many more out there!

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Filed under: Entrepreneurship • General Internet Marketing • Getting Started

8 + Reasons Why You NEED to Write a Free eBook

Saturday, March 6th, 2010 at 9:47 AM  
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1. It Builds Business – if the stuff in between your ears (i.e. what you know) can help people: sleep at night, ease their fear of “X”, make them be better at “X”, get them more of “X”, solve their problem with “X”…you will develop a following.  If you offer up good stuff people will do the marketing for you…spreading your word like wildfire.  Remember great quality content leads to traffic…traffic leads to $$$.

2. A Chance to Set Yourself Apart…aka BRANDING – 90% of all eBooks floating around out there SUCK.  They are the equivalent of the loss leader strategy…get you in the door to buy something more expensive.  They give you a few tidbits…just enough to make you interested to buy something bigger.  Here’s a tip…be different…OFFER LOADS of VALUE so much of it that people will want more.  They will eventually buy from you if they like you and trust you.

3. What starts the Money Train? It’s spelled….V…A…L…U…E. – there are a ton of different ways to do “X” what’s your personal way?  People may find your way easier, they may find it more difficult.  Either way, there will be people who will gravitate to you and people who won’t.  Striving to please both types will get you nowhere.  Continue to work at offering value to people who see value in what you have to offer.  Offer great value and people will come.

4. Free – All else being equal…people would rather have it FREE than paying for it.

5. Sales / Buyers – For the most part people hate being sold to…but they do love to buy.  There’s a reason why the word “Sales Person” invokes such a negative emotion.  The best sales people are enablers.  eBooks have the ability to pre-sell.  eBooks can position you as a trusted resource.  If you can position yourself to be well liked and trusted you’ll strike gold.

6. Testing. – Back in the day I would buy these books called “Coles Notes” of “Cliff Notes”.  Essentially, they were stripped down versions of the BIG book.  Back in high school I hated reading and the thought of reading the full version of Wuthering Heights or Shakespeare was painful.  The shortened version was just enough to get me by.  You can use the same concept (in reverse) to determine if there’s a market for a more in depth expanded version (of which you can sell).  Just like the car industry…why do car companies spend millions of dollars building prototypes?  To see if there’s a market based on the BUZZ that the prototype generates.

7. Authority. – developing your own ideas, philosophies and getting it on paper and getting it out to the masses puts you in a unique position of authority.  The more you produce great quality content the greater your authority.  If you become the Guru people will flock to you.  It starts little by little but the more experience you gain and the more knowledge you offer…you will eventually become the GURU.  Think…Donald Trump, Warren Buffet, Bill Gates…these three guys started off with one thing in common…they knew nothing about their craft they are best known for today.

8. Practice – Think you can’t write? Think again.  Writing is not easy…but it gets easier each and every time you do it.  We all started at the same level waaaaaaay back in kindergarten learning our A-B-Cs.  Excellence comes from an unrelenting drive to practise a skill.  Writing is a skill that anyone can master…write every day and you will become the master.  A real cool book that talks about this is Malcolm Gladwell’s – Tipping Point.  Or you can check out my video blog post on Will Smith.

-PLUS-

Build your list.  Chances are if you are reading this post you are in or about to get into the Internet Marketing game.  The truly successful entrepreneurs in this game are the ones with the biggest list of names.  The really successful ones are the ones that not only acquired names but developed relationships with the people behind those names.  Do you want to be successful?  What’s your eBook about?

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Eight plus Tools you can use to improve your Blog

Sunday, February 21st, 2010 at 10:48 AM  
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Surf around the web and you’ll find yourself gravitating to sites that are multimedia rich and full of life.
Keeping your visitor engaged is easier than you might think.
By using the tools discussed below you can have your BLOG start looking like an authority blog.
Today, you’ll leave this post with 8+ powerful tools for text, images, audio and video that you can use to jazz up your blog.

Remember, striving for perfection is the greatest time waster. Take action and tweak along the way.

Sorry MAC lovers…this article is for PC users. I don’t have experience on MACs so it doesn’t make sense for me to write about right? ;)

Here are the 8+ tools you need to elevate your blog/website to the next level:  

ONE – GET YOUR MIND STRAIGHT

In the past I used doodle on a paper note pad or sketch out on a white board a mind map or a process.
You no longer have to do this…if you get Freemind.
Feemind is an intuitive piece of software that helps you map out your thoughts.
image

It’s a FREE download. Try it you’ll find it easy to use.
http://sourceforge.net/projects/freemind/

TWO – EDIT AND FORMAT YOUR TEXT

In terms of writing out text I use either Windows Live Writer and/ or Notepad.
Notepad comes with Windows and it’s better to use because it doesn’t ADD funny formatting code that Microsoft Word does.
The only time this is an issue is when you’re doing a post to your Blog.
You can always post directly to your Blog from the WordPress admin panel but I find that working from a full screen is easier for me.
Windows Live Writer is a cool tool because it works like a WYSIWYG (what-you-see-is-what-you-get) editor.
It allows you to format text, insert video, links etc directly into the post.
It can also be synchronized with your BLOG…so when you’re done you can upload it directly to your blog along with all the images, video and links etc.
Best of all…they are FREE too!

THREE – ADD VALUE BY GIVING AWAY SOMETHING

PDF (short for Portable Data Format) is mostly associated with ADOBE as I believe they were the creators.
Again, why shell out dollars if you can get something that works perfectly fine for FREE.
Check out http://www.dopdf.com/ you can download free software that basically installs a PDF Print Driver to your computer.
Now you can create a great looking document using WORD or POWERPOINT and instead of printing to your printer you choose “doPDF” as your printer and VOILA!
You now have a PDF document that you can sell on Clickbank or give away as incentive for signing up to your email list.
Another great feature of doPDF is that it preserves the links in the document so if your give-a-way goes viral people can easily get back to your site by clicking on the link.

FOUR – CREATE TRAFFIC BY SHARING YOUR PRESENTATIONS

It’s similar to YouTube but specifically designed for POWERPOINT presentations http://www.slideshare.net/.
Once uploaded you can create embed codes for sharing on your BLOG or on other sites. IF you learn how to make proper presentations this could be a solid traffic generator for you.

FIVE – GIVE YOUR BLOG SOME LIFE WITH SOME IMAGES

Images are what invoke emotion in your readers. Combine the right images with text and you can create urges to buy or hold reader interest.
www.bigstockphoto.com is a site that will offer you the right image to give you the proper look and feel. 

SIX – EDIT YOUR IMAGES TO GET YOUR DESIRED LOOK AND FEEL

A tilt here, a crop there, converting to black and white.  You can use Microsoft Picture Manager to change up some of your photos. 
Couple of other FREE options are: 
IrfanView – and can be downloaded at: 
http://www.irfanview.com/ 
If you’re interested in getting PHOTOSHOP quality software at a bargain basement price of ZERO I suggest GIMP. 
You can do the edits as discussed above or create images from scratch. 
It’s truly an amazing piece of software go get it at:
http://www.gimp.org/ 
 
Another tool that can add life to your site is called Animoto, and it helps you create simple slide show presentations with music that you can stream straight from your blog. 
It’s super easy: upload a bunch of your images or photos or short videos…upload music…bada bing bada boom the rest is taken care of.  
You then grab the embed code and paste it into your blog or Facebook page with a link back to your blog etc. 

You can access Animoto here: 
http://animoto.com 

SEVEN – ADD SOME SOUND FOR ANOTHER DIMENSION

Adding sound will enhance your reader’s experience and keep them coming back for more.  Here are a couple of audio tools and ideas on how to incorporate: 
Instead of typing out a blog post record yourself.  You can record audio using software included with windows save it as an MP3 clip and upload it to your blog for your readers to download. 
You can create interview by doing over the phone interviews with experts in your niche by using a service called Skype www.skype.com . 
Before you do the interview…download recording software to record the call at www.pamela.biz . 
If you want to be like the cool cats….stream you audio directly from your blog.  To do this get the Audio Player WordPress Plugin
http://www.1pixelout.net/code/audio-player-wordpress-plugin/ 
For easy install, search for it from your WordPress Admin Panel in the Plugins section.  REMEMBER: it needs to be in MP3 format to work.
Just make sure you export your final audio production to an mp3 file format for this to work. 

EIGHT – INCORPORATE VIDEO FOR THE FINAL FRONTIER

Incorporate video and your blog will scream QUALITY.  After all, that’s the name of the game right? Keep your visitors coming back for more by offering great valuable and FREE content.  It’s called developing a relationship my friend. 
Windows Movie Maker is preinstalled on your computer already and it’s really easy to use.  Record some video or import some still images or even slide shows and you can cut n’ paste edit your way to an Academy Award Winning spectacle. 
OK….maybe not but with some practise you’ll be able add the trust element to your blog especially if you video tape yourself…people ALWAYS like to see who they are reading…it’s gives them a connection to you.

Another way to add value to your reader is by giving video tutorials on how to do things.  Personally, I’d rather read instructions as it allows me to do things faster and jot notes along the way. 

You can capture screen flow by using a piece of FREE software called CAM STUDIO http://camstudio.org/. 
It’s pretty easy to use.  Basically start it up and it records everything that you are doing on screen. 

Import to Windows Movie Maker for some edits and you have another piece of creative content to add to your blog. 

Ever see those clickable links find within YouTube Videos?  You can do that too…upload your VIDS to YouTube then use LinkedTube www.linkedtube.com/ to add clickable links to your Videos.
This is great for adding affiliate links or links back to your blog or sales pages. 

By now you’ve probably suffering from information overload…don’t worry!  You don’t need to rush out and incorporate everything discussed above all in one day!
ROME – wasn’t built in a day either ;) .
Your site or Blog should be an evolution of you.  What I hope to have accomplished for you today is shorten the amount of time it will take you to get your Blog to the vision you want it to be.  And hopefully, stimulate your creative juices to really make your site stand out

If you like what you’ve read please leave a comment or share with your friends.

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I HATE BEING SOLD BUT I LOVE TO BUY…5 plus reasons for why people BUY.

Sunday, February 14th, 2010 at 11:30 AM  
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I have always believed that the key to effective selling was through top notch listening skills coupled with great open ended questions.  That’s why we have two ears and one mouth.  You see the customer does not care about you or what you have to offer.  W-I-I-F-M is what the customer is thinking.  “What’s In It For Me”.  If you can explain your business and/or product in the terms of your customer…you will set yourself apart from the competition and win more often. 

I have ALWAYS followed the same model. 

  • Develop rapport and trust.
  • Ask the right questions to uncover motives for buying and develop the relationship.
  • Help buyer uncover their reasons or WHY .

To uncover the key motive for buying you need to ask questions about experience, wisdom, past experience.  What things keep them awake at night?  What makes them uncomfortable?  What are some of their positive experiences…why?

| FEAR and GREED is what makes the world go around |

For the most part, I have relied on 2 motives: FEAR and GREED and have been successful closing deals simply by focussing on questions that helped me understand these two emotions.  There are at least 6 other reasons for why people buy.  The more you uncover the easier it will be to close.  Want to know more?  Keep reading.

Passion – sales are made with emotion and justified later by logic.  If you can uncover their passion you are on your way to a close.

Fear – probably the strongest motivator of all.  People fear loss greater than gain.  Want proof?  Take a look at any of the stock market crashes in any decade.

Greed – how much do they stand to gain by having what you have to offer can become a strong motivator.  If you can get them to mentally frame it i.e. get more profit or achieve “x” faster – it’s a homerun.

Need – determining this will determine their urgency to buy.  If you can attach how they will benefit as a result of using you or your product – move your probability of a close up a couple notches.

Want – create this or uncover this and you win.  The more they want it will equate to fewer roadblocks.  Classic example, the pet rock.  A more recent example, Nintendo Wii – I doubled my money a few years back when the Wii was released.

Win – people are competitive by nature.  Find out how intense the customer’s desire is to win.  If you can help them win you win!

Vanity – if it makes them look better…they’ll have to have it.  Can you make them look GREAT?

Pain – find out what’s causing them pain…the more uncomfortable the better.  Because if you can solve their pain…and fast…KA-CHING!

Inclusion – for the most part people want to be like one another.  They want to have what others have…it’s the “grass is always greener on the other side” mentality.  Find out who they want to be like, what they don’t have that others do have…if you can help them get it…YOUR IT!

Hopes and Dreams – find out what your buyer’s hopes and dreams are.  What does their ideal world look like?  Get them to imagine this…can you be the conduit to their hopes and dreams?  If the answer is yes…  YES = SOLD.

Now that I have given you the reasons.  Your homework is to develop your master list of open-ended, fact finding, relationship building questions that will help you close the deal.

Want to watch master sales people close deals?  Watch any kid who desires to have something.  Their key word that usually begins every question is…WHY?

Your QuikTipz of the day is start with Why?

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Are you looking for customers? They can be found here…want to know where?

Sunday, February 14th, 2010 at 6:58 AM  
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If you are a retail based business, offer products/services business to business, professional service provider, commissioned sales rep etc   You will want to read this article.  Over the past few years the way to the customer’s wallet has changed. 

| YellowPages are dead…Google is the new directory |

No longer can you expect to place a yellow page ad, newspaper ad, send out flyers, advertise on radio, runs ads on TV blasting “I’m here, I’m here” and expect to get results.  Customer behaviour has changed and if you do not change with it you are doomed.  How you adjust, adapt and prepare for the new customer will determine your long term success.

So what’s changed?  In the last little while, online has taken over.  Comparison shopping occurs in just a few clicks versus hours of phone calls or in-store visits.  Speaking of in-stores visits…those occur in the comfort of the customer’s own home or desk via Google, Yahoo, Bing etc.  

| We’re open Monday – Friday 9-5 no longer works for people. |

Days and weeks of research done the old fashioned way are now compressed in to hours, minutes and seconds.  It’s no longer Monday to Friday 9-5…it’s 24/7 365.  Yes, the internet has been around for the last 25 years but it has firmly taken hold as a shopping option and has become a trillion dollar shopping option for customers and consumers around the globe.

Trillion dollar pie?  Do you want some of that?  Here are some examples of businesses doing things different.  Investment firms, car dealers, banks, insurance companies, real estate agents, dentists, restaurants to name a few have adjusted their business model…and that’s just the tip of the iceberg.

The customer today versus before? Night and day…they’ve changed too…want to know what they look like and behave?  Keep reading.

  • Their purchase decisions are slower…they compare everything.
  • They get upset easier and want to let you know about it sooner and faster or they’re gone.
  • They want faster resolution to what ever they are upset about or they’re gone…CAN YOU SAY “what have you done for me lately?”.
  • They will not be doing business the way they used to.
  • They will not be advertising the same way either.
  • They will choose banks differently.
  • They will buy cars differently.
  • They will buy homes differently.
  • They will invest differently.
  • They’re online…checking your website and your competitor’s website.
  • Their word of mouth travels at cyber speed via social networking
  • The new tell one person if they’re happy and tell 10 people if they’re unhappy is now 100 and 1000 and spreads like a California wild fire.
  • They’re using: Facebook, MySpace, Tweets, LinkedIn, Blogs, You-Tube, texting to tell the world about their experiences.
  • They’re Googling…what are Yellow-pages?
  • They don’t know what newspapers are.
  • They listen to IPods and Podcasts not radio.
  • They watch TV when it’s convenient for them and skip through commercials using their PVR.
  • They buy at all hours…and it’s in the ga-zillions.
  • They want to buy from you if you make it easy to buy from you.
  • They are value driven…but price has moved up a couple of notches in the purchase decision.
  • They want a relationship.
  • They want, need and expect AMAZING SERVICE after the sale.
  • When they WANT they WANT IT NOW.
  • They HATE voice-mail or IVR hell.
  • They need help and expert advice immediately.
  • They know more about your product than you do…Oh and they also know everything about your competitor’s too.
  • If they need a recommendation…see line referenced earlier about Social Networking…you better have testimonials.
  • They want rapport and trust and expect to be heard and understood.

This is just the short list are you going to do something about it or stick your head in the sand?  I sure hope it’s the former and not the latter.  Failure to address the new way is surely the fast way of going broke.

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The Difference Between Earning and Making Money

Saturday, February 6th, 2010 at 10:22 AM  
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In my opinion, the difference between earning and making money is subtle but once figured out can become a game changer for ANYONE and EVERYONE.  The majority of the population is brainwashed with the following notion: “go to school, get educated, find a job, and earn a living”. 

|J.O.B. IS AN ACRONYM FOR JUST-OVER-BROKE|

Layer in the idea that we are being programmed to consume and you quickly find out that a JOB really is an acronym for Just-Over-Broke.  What’s in the news these days? North Americans are at unprecedented debt levels, unemployment rates up etc…The reason for this is simple…they don’t teach how to make money in school.

 What most people do not understand is that they all have the ability to make money…they just don’t know it.  I came across a couple quotes today and it came from a guy born in the 1800′s.  Talk about wisdom standing the test of time…the quotes go like this:

  ”Money is plentiful for those who understand the simple laws which govern its acquisition.” – George Clason

 And

 “Opportunity is a haughty goddess who wastes no time with those who are unprepared.” – George Clason

  Each and everyday opportunity to make money passes YOU by.  There is a VERY VERY simple formula to making money:

  •  Find a product or service to SELL (S) 
  •  Make sure that the price you charge for it covers off all the EXPENSES (E) related to selling it
  •  At the same time leaving some money left over to reinvest/grow and keep- PROFITS (P). 

For those of you out there that like mathematical equations:

 Sales (S) minus Expenses (E) = Profits (P) ** as long as your Expenses are less than your profits. 

In fact, if you don’t employ this equation to your personal finances do this now!  But only after you make the following adjustment to above equation.  Your sales is what you earn from your job…what you earn is subject to income tax.  Your after tax income is the money you have to spend or save.  Your expenses include (but are not limited to) the following: mortgage payments, car loan/lease payments, loan(s), credit cards, food and entertainment, household utilities and maintenance.  At the end of the day, you want to make sure that your expenses are less than your after tax income.  A good rule of thumb is to make sure you save at least 10% of your income.  So if you make a $1000 a week you should be setting aside $100 for savings.  If you are not doing this, don’t panic there is hope for you yet.

|Being employed leaves you one step away from financial ruin|

Unfortunately, the majority of the population are one trick ponies when it comes to income…are you one of them?  What this also means is that YOU ARE AT RISK of getting wiped out financially…especially if you have a lot of expenses.  Let me list off the ways:

  • you get fired,
  •  downsized,
  •  become obsolete,
  •  get sick,
  •  get injured – I think you’re getting the picture now. 

The smart ones out there are not the ones trying minimize expenses or whine about getting raises – sure you can try these tactics too.  But the money and the path to FREEDOM is in multiple streams or branches of income.  Large or small the key is to build as many streams or branches as possible.  Focus on building one stream at a time and keep adding and make sure they are diversified.  Ideally, the streams should also be passive – meaning money continues to flow with or without your input.  For example, in addition to the day job (that I do because I love) I have or have had income streams in real estate, restaurants, advertising businesses and investments.  I am comforted in knowing that if one stream dries up I have other sources of income that can cover off my expenses.  Imagine the stress relief you would have knowing that you could leave your job anytime you wanted…I think this is the number one stressor for North Americans – What happens if I lose my job?

 All is not lost.  There are three main take-aways from today’s post:

  1.  Start getting educated TODAY on how to make money.  Research online/offline, study people who are making money, find a mentor that can guide you…LEARN SOMETHING NEW EVRYDAY!
  2.  Believe in yourself.  The best investment you can make is in YOURSELF…you are the pilot to your destiny.  Opportunity comes to those who are prepared for it – Are you prepared?
  3. Take action.  Implement something that you have learned.  Make it a habit, a routine, a discipline do it everyday – HINT – the right thing to do is one that gets results.  Repeat this step everyday and YOU will achieve what you thought was unachievable.

Well what are you waiting for?

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Filed under: Getting Started • Motivational

How do I know if I have a great Niche? – 5 rules to live by.

Sunday, January 31st, 2010 at 5:51 PM  
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When looking to build a business online or offline it’s important to determine if there is a market. There are some pundits out there that say “get into markets where there is no competition”. In the offline world…that would be the equivalent of starting a restaurant in a town with no other restaurants…well why why would there be no restaurants…BECAUSE you can’t make any money serving a town with only 1000 residents.

  • Rule #1 – look for a big market. An Example of this is weight loss. Take a look at your neighbourhood gym just after New Years…now that’s a big market.
  • Rule #2 – look for markets where there’s competition. Some people are afraid of competition…YOU should not be one of them. After all, competition usually means people are making money. Think of it this way. Which would you rather have? A big piece of pie worth nothing or a small piece of a pie that’s worth a lot. I’ll take the sliver each and every time thank you!
  • Rule #3 – you’ll know if you have a great niche if people are using long tail keywords in their research to cure what ails them.  Short keywords phrases would be anything less than 2 words.   For example: “golf swing”.  An example of a long tail keyword phrase would be: “cure my golf slice” or “fix my bad golf swing”.
  • Rule #4 – look for a niche that offers a lot of affiliate programs.  If you are developing a relationship with readers you want to know that you will have a good diverse product offering to sell or recommend to them.
  • Rule #5- Is the niche list worthy? Similar to a offline retail store will the niche that you are looking at have customers that will continue to buy more? For example, in the weight loss category…people that are looking to lose weight…what else would they be likely to buy?  Examples: workout equipment, workout clothing, workout routines, nutritional supplements etc.

If you follow these 5 rules for picking a niche you should be on your way to a successful online career.

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Filed under: General Internet Marketing • Getting Started

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