True Financial Freedom

Too Many Ideas Are Bad For Business

2009-06-18T08:47:00.000-07:00

"If you want to make an apple pie from scratch, you must first create the universe." - Carl Sagan

The Risks of "Idea Addiction"

By John Forde
Are you addicted to ideas?I am. I admit it. I love the creative process. No, it's not just that I love it. It's that I can't escape it. Seriously.I carry an idea pad in my coat pocket in winter. In summer, no napkin within 20 feet is safe. I steal Post-its. At home, I fill one notebook after another.I have files on my computer more than 700 pages long, filled with capsules of ideas. For novels. For New Yorker cartoons. For screenplays. For non-fiction books and business books.Even the folder that keeps my "future Copywriter's Roundtable" ideas, right now, holds 2,238 items. Many that I've never had a chance to glance at a second time.In brainstorming meetings, I'm the guy you can't shut up. (Though now I know to ask more questions than to force answers on people.)Early in my career, I wrote two- to three-page memos filled with nothing but one bulleted idea after another. "Here's a sales promotion we could do..." or "This is a possible new product..." and "We should set up this protocol to speed up the design process..."Ad infinitum.I don't know if I impressed anybody else doing that, but I certainly must have impressed myself. Because I kept on doing it. Until I had a revelation: Ideas without execution aren't worth much of anything at all.And that's the point I was just reminded of recently, after stumbling across the website for the Behance Group, a company that develops "organization tools" for creative types in every industry."Ideas," one of their senior execs had just explained to a new intern, "are our greatest cost. If anything, we have too MANY ideas."Crushing news for the intern, who was bummed by not seeing many of her ideas light the rest of the company on fire. But just too true. Get engaged in anything, and the ideas will flow. What really tests your merits, though, is the ability to isolate the best of those ideas and actually make them happen.Behance has a process for moving ideas from ether to reality. They call it the "action method."It's pretty simple. First, at the end of every creative meeting, you need to decide which ideas are "action-worthy" and which are solid "backburner" projects. Fill up the backburner shelf, make a list, and save it somewhere. Now you're ready to focus.Second, you take the action-worthy ideas and - as a group - clarify and assign every single, relevant "action step" you can think of. Schedules, follow-up meetings, research, design. It all goes here. Culpability is the key. Get names and deadlines on paper.Third and last, you don't leave the room without creating or identifying your "reference materials." That is, you make a list, as a group, of what you'll need to make a project happen. Then you identify where it will come from. Be thorough when you make this list. Don't let a worthy project get derailed because you don't have the materials you need to make it happen.Do these three things, and you'll be a lot more successful than any pure, otherwise-inert idea-generator could ever be.

How To Live In Perfect Freedom

2009-05-01T09:41:00.000-07:00

Dear Reader,

Not long ago, I was playing golf with a friend who is an attorney. Between shots he began telling me how much he detested his job.

"Why?" I asked.

"You have to understand my business," he said with a huff. "My day basically consists of writing nasty letters on behalf of my clients. Then we get nasty letters back. This goes on for a while until my clients realize how many billable hours they've run up. Then they start getting nasty with me. The whole business," he said with a shake of his head, "is kind of nasty."

"Why don't you do something else?" I asked.

From the look on his face, you would have thought I suggested he stop breathing.

"Do something else?" he said. "You don't understand. I live in a big house. I have two big cars. My wife and I like to take big trips. She runs up big bills. What am I gonna do?"

"I don't know," I said. "But it sounds like a big mistake to me."

The sad part is my buddy is a bright, talented guy. He's giving up a lot. With his experience and law degree, there are plenty of other things he could do.

But he doesn't believe that's realistic. Why? Because he can't tolerate even the thought of a temporary loss of status and income. And, ordinarily, that's exactly what it takes.

As the psychologist Laurence G. Boldt once wrote, "The life spent doing what you love is a different life indeed from putting your life out for hire to the highest bidder. The only way you can say it makes no difference is to say life makes no difference."

These words hit me between the eyes when I first read them seven years ago. At the time, I had spent 16 years working on Wall Street. It paid well, but I had grown increasingly bored with what I was doing.

I loved analyzing investment opportunities. But I'd grown tired of having the same repetitive conversations with my clients about their accounts every day. So I decided to write about the financial markets, instead.

My coworkers thought I had lost my mind. "Nobody gets to the point where he has all these clients, all these accounts, all these assets - and all these fees coming in - and then just walks away," one colleague told me, incredulous. "If you leave, you're going to regret it."

But I haven't. Not for a minute. If anything, I wish I'd done it sooner. The writer Joseph Campbell was right:

"If you follow your bliss," he wrote, "you put yourself on a kind of track, which has been there all the while waiting for you, and the life that you ought to be living is the one you are living… I think the person who takes a job in order to live – that is to say, just for the money – has turned himself into a slave."

That may sound harsh to some. We all have commitments and responsibilities, after all. But that doesn't mean change isn't possible. It hurts to spend your days doing something that is not really suited to your talents, especially when you know you could be doing far more than you are.

In a recent MONEY survey, 43% of boomers said the idea of a new job was appealing. "Now's the time to ask yourself," says financial planner Sheryl Garrett of Shawnee Mission, Kansas, "do you want to keep doing what you're doing for the rest of your life?"

Especially when work you enjoy is invigorating. It gives your life meaning and structure. You feel like you're expressing yourself, making an impact.

As the British historian and philosopher R.G. Collingwood said, "Perfect freedom is reserved for the man who lives by his own work and in that work does what he wants to do."

Unfortunately, too many folks approach the job market thinking of nothing more than money, security, and benefits. I'm not saying these things aren't important. None of us would survive long without them.

But for a true sense of fulfillment, there has to be more than just money and security. As George Bernard Shaw said:

"This is the true joy in life, the being used for a purpose recognized by yourself as a mighty one; the being thoroughly worn out before you are thrown on the scrap heap; the being a force of nature instead of a feverish selfish little clod of ailments and grievances complaining that the world will not devote itself to making you happy."

Some may call Shaw an idealist, a dreamer. Perhaps. On the other hand, this is not a practice round. This is the only life we get. You can work a job. You can pursue a career. Or you can choose a livelihood.

Ultimately, the choice is yours.

The Law Of Investing Nolonger Works

2009-04-24T11:03:00.001-07:00

Diversifying your investments is like boarding up your windows against an approaching hurricane. It gives you some measure of protection, but isn't going to prevent the roof from falling in.

Diversification is one of the fundamental and unquestioned rules of investing. It's supposed to protect you from huge losses. But what if it doesn't? You could be facing potential disaster. Could conventional wisdom be so wrong? And if it is, what can you do about it?

The idea behind diversification is intuitively compelling. If you spread your investments around, chances are not all of them will get hit at the same time or with the same severity.

But it's not a bulletproof vest. You don't necessarily get off injury-free. And the flip side is that when the markets are going strong, your gains are somewhat curbed. But giving up some upside is well worth the price of not losing your shirt in a free-falling market.

Or so the theory goes. The only problem is, it doesn't work anymore. Or at least you can't count on it working.

Just look at the sharp January 22 correction and you'll see what I mean. When the U.S. market slipped the week before that, so did markets in Europe, Asia, the sub-continent, and Latin America. And the slide continued the following Monday, when the U.S. markets were off because of the Martin Luther King holiday. For a few days, even gold and silver fell. Oil didn't escape. Nor did blue chips, tech, and small caps. In other words, practically everything went down.

Then, after the Fed cut the benchmark interest rate 75 basis points to 3.5 percent, everything went back up. The China market ticked up. Europe and Asia made up some lost ground, and the U.S. market rebounded. Oil stayed down, but gold and silver, copper, nickel, corn and wheat, and cocoa all rose.

Yes, practically everything went back up.

The China market has since wandered down a bit, but you get the idea. If everything pretty much goes down and up together, what's the use of diversifying? Good question.

It seems that many of the correlations (corresponding and inverse) we've relied on for so long are deserting us. If you're sensing that the markets are getting more and more unpredictable, that's probably a big part of the reason.

Oil used to move in step with the market. (Because a thriving economy stimulates oil demand and allows the market to grow.) But oil prices declined as the Dow was reaching new highs over the second half of 2006, and went up last year as the economy showed signs of slowing down.

And gold is supposed to strengthen as the market goes (or threatens to go) into decline and vice versa. But the long-running bull beginning in 2002 saw gold go up. And, for a few days anyway, gold was unable to escape the recent downturn.

Why the heck are some of our most cherished notions of market behavior crossing us? Because the market has transmuted in some very fundamental ways. Four historic shifts have altered how the market behaves. As a smart investor, you need to know what they are.

1. The global reach of multinationals. Recent studies have shown that multinationals from different countries are becoming more and more correlated. It makes sense, doesn't it? They're in the same major markets, and the mix of minor markets they sell to in the developing world doesn't have much of an impact on their stock prices.

2. The world is drowning in money. Global liquidity knows no national boundaries in either its origins or destinations. It comes from China's enormous one-trillion-plus dollar reserves, the carry trade (from Japan, Switzerland, and elsewhere), petro-dollar countries, and cheap credit from both east and west. And it ends up wherever there's a quick (as opposed to safe) buck to be made.

Now I'm not saying that China invests the same way as Saudi Arabia. But all that money looking for a place to land has caused asset inflation in many markets and submarkets around the world. As these markets rise, investment flows into them at a sometimes furious pace because much of the money is leveraged. And at the first sign of the bubble bursting, the hot money leaves just as quickly.

3. Risk modeling reinforces herd behavior. Technology has made such synchronous investment behavior possible. As a common tool of institutional investors worldwide, computer trading based on risk models directs the flow of a great deal of money.

The problem is, the trend is toward more aggressive (and riskier) models, since they get the better returns... at least in the short term. It's not so bad that funds are getting into rising markets at the blink of an eye. What worries me is that they're getting so adept at fleeing markets first and asking questions later.

It's a worldwide meltdown waiting to happen, feeding on its own out-of-control momentum rather than reason (even besotted reason). That makes me very nervous.

4. U.S. and China rule. In the political and military realms, the U.S. dominates. But as far as investment goes, it's a bipolar world. Despite its huge economy and robust consumerism, the U.S. has to share the stage with China - with its huge appetite for energy, technology, and raw materials.

These two markets exert so much influence over individual companies as well as major country markets worldwide, it begs the question: Can we avoid a bear market if either of these two economies seriously stumbles?

I don't believe so. Let's imagine for a second that the U.S. can't control inflation at the same time as the economy encounters serious headwinds. Where can we invest? How about Australia? Their economy is commodity-driven and they don't rely that much on the U.S. to buy their exports. But they do feed China a big chunk of raw materials.

Safe bet, yes? Not exactly. China fills the shelves of American stores from Wal-Mart to Lowe's. If these stores begin milking their existing inventories and stop buying from China, China's economy would downshift from fifth gear to second virtually overnight. And Australia would have just lost its main customer.

The period culminating in the sharp January 22 downturn could have been the "perfect storm," a scenario in which markets everywhere crashed when the economies of China and the U.S. encountered big problems at the same time. It turned out to be a false alarm, but only because the Fed cut interest rates that day.

The real day of reckoning still lies ahead of us. But we did get a hint of what could happen to the markets... and to your portfolio.

China and the U.S. are supposedly dealing with opposite problems: China's economy is growing too fast, and the U.S. economy is growing too slowly. I don't buy that view. When you look a little deeper, you see that both are suffering from too much liquidity and asset inflation.

So what can you do about all this? A few things.

Convert your holdings to cash.

You could take your money out of your IRA or 401(k) and put it into your savings account or a CD, but why subject yourself to the stiff tax penalties? Instead, look for money-market options or mutual funds that invest in short-term (1-2 year) Treasuries. If you're having trouble finding them, call up your IRA or 401(k) administrator and ask, "Do you have money-market accounts?" "Do you have 1-2 year Treasury investments?" Any decent 401(k) plan should give you a choice of several such cash offerings.

Invest in funds that invest in dividend-paying companies.

Companies that pay dividends are the only ones that can withstand a sudden or serious market downfall and still fork over the cash. Since 1965, the cash payout of the S&P 500 has never fallen significantly. And in the brutal crash of 2001-2, dividends dropped just six percent (compared to the 50 percent downturn in profits).

Don't confuse "income" or "dividend" funds with funds that invest in dividend-paying companies. Income and dividends can come from bonds and other debt instruments too. Most of the funds I'm talking about come with even more specific mandates - like investing in blue-chip dividend-paying companies.

Most likely, your 401(k) or IRA will give you a choice of dividend company funds to choose from. In general, they're all safe. It's a matter of personal preference. But keep in mind that overseas dividend-paying companies could be a little more volatile than domestic ones.

Go with what you know.

Even if what you know is one thing (which, of course, is the opposite of diversification). The business or sector you choose to specialize in may not be immune to a bad fall. But you'll have such a good feel for it that you should be able to see any downturn a mile away and get out in plenty of time.

In such circumstances, there's no shame in holding your investments in cash until the nastiness blows over. That's pretty much how legendary billionaire Warren Buffett invests, and it's made him more than $52 billion.

It's better than employing a diversification strategy that's showing signs of becoming less and less reliable.

How to Get Motivated to Work Out

2009-04-17T12:52:00.000-07:00

How to Get Motivated to Work Out

By Craig Ballantyne

Sometimes you just don't feel like doing your workout. It even happens to me, and I'm a pro! But I know that I feel like a million bucks after my workout. And I know I can't let myself get "soft" and start skipping sessions.

I have to lead by example. But what about you?

If you are set on achieving your fitness goals, you've got to grit your teeth and do the job. So here are some suggestions to inspire you.

1. Reward yourself when you finish a workout. Treat yourself to a magazine, a TV show, some extra time with your family, some new songs for your iPod, or even a little extra time for yourself.

2. Punish yourself when you miss one. Skip the workout, put $20 into a jar to spend on home repairs. (Make sure your spouse controls the jar.)

3. Review your goals every day and every night. Keeping your goals fresh in your mind will help you stay on track.

4. Realize that the hardest part of the workout is often getting your butt to the gym. Once you get five minutes into it, you will be over the hump. So tell yourself, "I'll just go in and do one set of the first two exercises. Then I can leave." Next thing you know, you'll have done the entire workout.

5. Visualize yourself performing a great workout and finishing strong. Get yourself mentally prepared, and you will have better workouts every time.

6. Crank the tunes. Seriously. Nothing motivates like music.

Keys That Unlock Your Doors To Success

2009-04-16T12:54:00.000-07:00

By Bob Cox

It is easy to get caught up in the supposed urgency of a situation. You start thinking, "I must get this done NOW or else." But there are few times when you must do a task NOW. More often than not, it is a matter of making a good decision about when to do it.

Let's say you discover that you have put about 5,000 miles on your car since your last oil change. You need to schedule an oil change. But you don't need to do so this minute. The car won't stop running right away. You have some time.

You know that it is a good idea to change your oil to keep your vehicle running as efficiently as possible. But the oil change is not so urgent that you must drop everything and run off to your neighborhood service station.

Keeping your car's engine running properly is your motivation to change the oil regularly. By working this task into your schedule, your car will run smoothly, the engine will last longer, you won't have to buy a new car for several years. If you didn't have that motivation, you might push that non-urgent task to the bottom of your to-do list. You might even forget about it. It becomes non-urgent and non-important.

Your long-term goals are "non-urgent," just like that oil change. But, like that oil change, they are important. You just need to find a way to motivate yourself to add those goal-setting tasks to your schedule and take action to complete them.

Here are five Motivation Keys you can use to activate your "completion mentality" and unlock the door to success:

KEY #1: KNOW WHY YOU WANT TO ACHIEVE THIS GOAL

Ask yourself about the "whys" behind your goals. Perhaps you are a runner and your goal is to win the next Boston Marathon. Why do you want to accomplish this goal? Is it the health benefits of getting into shape? Is it the possibility of meeting new people? Or do you simply want to be able to say you participated? No matter what your motivation, you still have to endure months of disciplined, rigorous training.

But picking the right motivation is crucial to whether you actually follow through. If your motivation is to get into shape, for instance, you might find it difficult to push past the point of "being in shape." After all, you'll be fit as a fiddle long before you are actually ready to compete. If you hit a snag - maybe a week of being sick with a cold - it will be easy to fall behind on that goal. "I'm already fit," you might think. "Why push myself to train for a marathon when I'm already in shape?"

KEY #2: HAVE HIGH EXPECTATIONS

A personal sense of accomplishment is very motivating in and of itself.

About two years ago, I set out to get a private pilot's license. Ever since I was a child, I dreamed of taking off into a clear blue sky. Once I turned that dream into a goal, I achieved it in eight months.

I do not come from an aeronautical or engineering background, so learning this new skill was incredibly challenging for me. However, I was highly motivated by my own personal expectations. And once I became a licensed private pilot, I was even more motivated to continue the process. (In flying we say, "Once you have your private pilot's license, you now have a license to LEARN flying.")

Challenges make us define our commitments and implement a "do what it takes" attitude. Stretching yourself expands your horizons.

I obtained my private pilot's license after about 100 hours. I now have over 450 hours under my belt that include too many joyful memories to share in this message. Suffice it to say that none of those memories would have been possible had I not started with lessons... had I not kept going and going... and going. The simple desire to accomplish this lifelong goal was huge motivation for me, and it powered me forward.

Don't underestimate the power of expectations. You have your own expectations of what you can accomplish. Plus, you have the combined expectations of your teachers, parents, friends, clients, employers, and colleagues. Research has shown that most people live up to these expectations. A sales manager who sets a higher standard than her counterpart will likely see greater production from her sales team than if she sets a lower standard. In other words, our motivation to meet the expectations of others - and those we have for ourselves - propels us to succeed.

KEY #3: KEEP UP A "CAN DO" ATTITUDE

Whatever you aspire to do, you must believe that you can do it. In reality, the bigger your goal, the bigger the obstacles you will face along the way. Having faith in yourself and your abilities is the key to success.

When you have a defeatist "I can't do this" attitude, your negative expectations become a self-fulfilling prophecy. Sure, you may not be able to accomplish your goal right this second. But remind yourself that every goal is a journey, with many steps along the way.

Harris Rosen, one of the inspirations for my program, The Billionaire Way, started his career as a front desk clerk after graduating from a prestigious hospitality school. If he had not set about acquiring additional skills (learning everything about running a hotel, for example), he would not have become the owner of Rosen Hotels and Resorts, the largest privately held hotel chain in the southeastern United States.

I am sure Harris had mornings when he woke up with doubts. Had he succumbed to those negative thoughts, he never could have achieved his goal.

Fear and negativity limit your imagination and ability to "look outside the box." Inspire and motivate yourself by maintaining a "can do" attitude.

KEY #4: TAKE A LOOK AT THE LARGER PICTURE

Winning a sales contest or receiving a bonus is an incentive to achieve... but only in the short term. The key to sustaining your progress over the long haul is to have a larger picture of what you want to accomplish.

Let's say your 2008 health goal is to lose 10 pounds. But that's only a short-term, one-year goal. Your "larger picture" goal may be to keep healthy so you can live longer, which will allow you to spend more time with your spouse, children, and grandchildren. To travel the world like you always wanted to... to live out your retirement without heart problems or diabetes.

Focusing on the "larger picture" will get you over the inevitable low points you'll encounter on your path to success.

KEY #5: TAKE ACTION

Only YOU can decide to be motivated. Nobody else has that power. Accomplishing your goals begins with your decision to take action. Yes, fear and lack of confidence can creep into your mindset. And, yes, those things can extinguish your motivation. Toss them out. Choose to be positive. Then take action. You'll find that taking even a single small step toward accomplishing a goal will motivate you to take the next step.

You may be scared, but push on ahead into that joint venture or new job and see where it takes you. What's the worst that can happen?

6 Motivating Questions to Ask Yourself

As you work toward your goals, ask yourself:

Am I willing to challenge myself to reach this goal?

Can I leverage my "ordinary" skills into extraordinary results?

Do I know the "bigger picture" of what I want to achieve with this goal?

Am I clear on why I want to accomplish this goal?

Will I choose a "can do" attitude while pursuing this goal?

Can I dig a little deeper to make this goal happen?

Think about it!

Simon Matovu

www.simon256.co.nr

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The Most Stupid Vice

2008-04-03T08:08:00.000-07:00

Economists Sara Solnick and David Hemenway recently conducted a survey where they asked participants if they would rather earn $50,000 a year while other people make $25,000, or earn $100,000 a year while other people get $250,000?

Sit down for this one. The majority of people selected the first option. They would rather make twice as much as others even if that meant earning half as much as they could have.

This is completely nuts, of course. Yet other findings in the study confirmed the envious nature of contemporary culture. People said, for instance, they would rather be average-looking in a community where no one is considered attractive than merely good-looking in the company of stunners.

When it came to education, parents said they would rather have an average child in a crowd of dunces than a smart child in a class full of brilliant students.

What is going on here? In his new book " The Mind of the Market," Scientific American columnist Michael Shermer writes that, "Our sense of happiness tends to be based on positional and relative rankings compared to what others have."

There's one problem, however. It doesn't work.

As the philosopher Bertrand Russell pointed out, "Envy consists in seeing things never in themselves, but only in their relations. If you desire glory, you may envy Napoleon, but Napoleon envied Caesar, Caesar envied Alexander, and Alexander, I daresay, envied Hercules, who never existed."

Of all the dissatisfactions we face, surely none is more menial than envy. It denies us contentment, is a waste of time, and is an insult to ourselves. Worst of all, it's completely self-imposed.

"Envy is the most stupid of vices," wrote the novelist Honore de Balzac, "for there is no single advantage to be gained from it."

Face it. We all know people who are smarter, fitter, richer, funnier, more talented or better looking. But so what?

Thinking this way only keeps you from appreciating your own uniqueness and self worth, things that, not incidentally, do lead to greater happiness. Especially when combined with a strong sense of purpose.

As Shermer writes, "Feeling ennobled is a pleasurable emotion that arises out of this deepest sense of purpose. Although there are countless activities people engage in to satisfy this deep-seated need, the research shows that there are four means by which we can bootstrap ourselves toward happiness through purposeful action." These include:

1. Deep love and family commitment.

2. Meaningful work and career.

3. Social and political involvement.

4. Transcendency and spirituality.

Note that psychologists have yet to discover the route to happiness by comparing ourselves to others. (Although it never hurts to measure yourself against your own ideals.)

Concentrating on your own fortunes - and improving those of others - is guaranteed to generate more satisfaction than sizing up the Joneses. Besides, if you knew everything the other guy is dealing with, you might prefer your own circumstances anyway. (Remember Richard Cory?)

In other words, don't begrudge the other guy his blessings. Count your own, instead. As Mark Twain said, "Pity is for the living, envy is for the dead."

Dominate Your Market with A Product Launch

2008-03-29T07:10:00.000-07:00

If you want to give your business instant momentum, the best way to do it is with a major product launch.

I mean, why bother starting off slow if you can start off with "both guns blazing" and big-time cash flow?

And I do mean big-time cash flow. Some of the launches I've been doing lately are generating six and even seven figures in a matter of a few days.

Now I know those numbers might sound crazy and just plain unthinkable... but they are quite real.

Of course, this didn't happen overnight. It took me a long time to develop my formula for product launches. And, initially, they were much more modest. The first one generated about $1,400. But I kept testing and tweaking my process... and the results kept getting better.

I remember the one where it seemed like I had it all figured out. That product launch did $34,762 in one week, and I was walking on cloud nine. But it turned out that was just the beginning. Soon afterward, I had a launch that did about $106,000 in a week. And then I helped a friend down $1.08 million in just 24 hours!

And things have kept rolling from there.

A couple of years ago, I released a home-study course that taught all my product launch techniques... the Product Launch Formula. And the results have been staggering. We are talking about $65 million in product launches... and that number grows almost every day. That qualifies as big-time cash for just about anyone.

Okay, so how do you put together a product launch?

Here are some of the key things you must do:

1. Turn your launch into an event.

People today are bored. They are also busy.

Because of this, it's difficult to get their attention... and even more difficult to keep their attention.

That's why you need to turn your marketing into an event. It will set you apart, hook people in, and keep their attention.

I'm talking about making your marketing more like a soap opera or reality TV show that leaves you hanging from episode to episode... where your prospective customers are dying to know what happens next.

Every step of the process should set up the next step. Make them wonder what you are going to do. What's going to happen. And make them think that even you aren't sure.

My good friend Rich Schefren did this recently when he launched his Attention Age Doctrine. The pre-launch started months before the actual launch, when he told his subscribers that he was working on a groundbreaking report - the Attention Age Doctrine.

For weeks, Rich talked about the Doctrine and gave hints about what it contained. Anticipation grew and grew. Some of his subscribers actually posted videos on YouTube telling Rich how anxious they were to get it.

Excitement is contagious. If you want to create anticipation and buzz for something, show how other people are already excited and buzzing about it. So, of course, Rich pointed out those videos in his marketing.

Finally, as the release day drew closer, Rich gave almost daily updates on his blog. He also sent out e-mails about the upcoming report and the exact schedule for the release. He even posted a timer on his website that ticked down the seconds to the exact moment of the launch.

When the report was finally released, more than 50,000 people downloaded it in just a few days.

The best product launchers do this. They create anticipation and excitement by turning the launch into an event. And when you really do it right, it almost looks like an accident.

2. Think in terms of sequences.

Treat the entire marketing effort like an ongoing story... where each piece builds on the last piece. Don't expect one e-mail or one sales letter to do the trick. Think in terms of both a pre-launch sequence and a launch sequence.

Your pre-launch sequence can be anywhere from one week long to four weeks long (or even longer). This gives you time to pre-sell your prospects before they even get to your sales letter.

Start off the pre-launch by gathering feedback. I like to do this with a survey. I vaguely define the product, and then I ask my prospective customers to tell me one or two things that they think the product needs to have or do.

A survey like that will give you lots of material to work. It will also raise lots of questions (potential objections) about the product that need to be answered. So the next step of your pre-launch sequence is to answer those questions.

Finally, toward the end of your pre-launch, you will start to define your product and offer.

This way, your prospects will hit your sales letter after you've already fielded their objections. Plus, they already have a pretty good idea of what your product is and why they need to have it.

3. Use a variety of methods to reach your prospects.

Different people like to "consume" information in different ways. So mix things up in your pre-launch by using several methods - e-mail, blogs, video, and audio - to reach your prospects.

This also helps create buzz. The more ways people hear from you, the greater their perception that other people are talking about you... and the more likely it is that they'll want to talk about you too.

These three strategies will help you build anticipation for your new product. In my next article for ETR, I'll reveal five more techniques you can use to make sure your next product launch creates huge cash flow for your company.

The Key To Perfect Freedom

2008-03-29T07:02:00.000-07:00

Not long ago, I was playing golf with a friend who is an attorney. Between shots he began telling me how much he detested his job.

"Why?" I asked.

"You have to understand my business," he said with a huff. "My day basically consists of writing nasty letters on behalf of my clients. Then we get nasty letters back. This goes on for a while until my clients realize how many billable hours they've run up. Then they start getting nasty with me. The whole business," he said with a shake of his head, "is kind of nasty."

"Why don't you do something else?" I asked.

From the look on his face, you would have thought I suggested he stop breathing.

"Do something else?" he said. "You don't understand. I live in a big house. I have two big cars. My wife and I like to take big trips. She runs up big bills. What am I gonna do?"

"I don't know," I said. "But it sounds like a big mistake to me."

The sad part is my buddy is a bright, talented guy. He's giving up a lot. With his experience and law degree, there are plenty of other things he could do.

But he doesn't believe that's realistic. Why? Because he can't tolerate even the thought of a temporary loss of status and income. And, ordinarily, that's exactly what it takes.

As the psychologist Laurence G. Boldt once wrote, "The life spent doing what you love is a different life indeed from putting your life out for hire to the highest bidder. The only way you can say it makes no difference is to say life makes no difference."

These words hit me between the eyes when I first read them seven years ago. At the time, I had spent 16 years working on Wall Street. It paid well, but I had grown increasingly bored with what I was doing.

I loved analyzing investment opportunities. But I'd grown tired of having the same repetitive conversations with my clients about their accounts every day. So I decided to write about the financial markets, instead.

My coworkers thought I had lost my mind. "Nobody gets to the point where he has all these clients, all these accounts, all these assets - and all these fees coming in - and then just walks away," one colleague told me, incredulous. "If you leave, you're going to regret it."

But I haven't. Not for a minute. If anything, I wish I'd done it sooner. The writer Joseph Campbell was right:

"If you follow your bliss," he wrote, "you put yourself on a kind of track, which has been there all the while waiting for you, and the life that you ought to be living is the one you are living� I think the person who takes a job in order to live � that is to say, just for the money � has turned himself into a slave."

That may sound harsh to some. We all have commitments and responsibilities, after all. But that doesn't mean change isn't possible. It hurts to spend your days doing something that is not really suited to your talents, especially when you know you could be doing far more than you are.

Progressing Towards Your Most Neglected Goals

2008-03-29T07:13:00.000-07:00

To Master Plan your new life, you must begin with long-term goals that correspond to your core values. From that good start, you must establish yearly and monthly objectives. Based on those objectives, you create weekly and daily task lists. Doing all that will help greatly. But if you want to really change your life, you have to learn how to prioritize.

I didn't always know how to prioritize. For much of my business career, I relied on goal setting and task lists and was happy with the results. But when I turned 50 and started writing for Early to Rise, I began to read how other business leaders achieved their goals. And that's when I discovered what a huge difference prioritizing can make.

The most important lesson I learned came from The Seven Habits of Highly Effective People by Stephen Covey. In that book, Covey presents a technique for prioritizing that impressed me greatly and soon became a central part of my planning process.

Divide your tasks, Covey says, into four categories:

Not important and not urgent

Not important but urgent

Important but not urgent

Important and urgent

In the "not important and not urgent" category, you would put such things as:

Catching up on office gossip

Shopping online for personal items

Answering unimportant phone calls

Responding to unimportant e-mails

In the "not important but urgent" category, you would include:

Returning phone calls from pesky salespeople

Making last-minute preparations for an office party

Attending a required meeting that doesn't help your career

Planning for a meeting that doesn't matter

In the "important and urgent" category, you might list:

Making last-minute preparations for an important meeting with the boss

Making last-minute sales calls to key clients

Solving unexpected problems

And, finally, in the "important but not urgent" category, you might include:

Learning how to write better

Learning how to speak better

Learning how to think better

Working on your novel

Getting down to a healthy weight

When you break up tasks into these four categories, it's easy to see that you should give no priority at all to "not important and not urgent" tasks. In fact, these tasks should not be done at all. They are a waste of time. Yet many people spend lots of time on them because they tend to be easy to do and sometimes enjoyable in a mindless sort of way. Or because they are afraid to get to work on important tasks because they are afraid of failure.

Even worse than spending time on tasks that are not important and not urgent is spending time on those that are not important but urgent. They should have been dealt with long before they reached the crisis stage.

If you discover that you are spending a lot of time on unimportant tasks, you've got a serious problem. Unless you change your ways, you're unlikely to achieve any of your important goals.

So which tasks should you give priority to?

In Seven Habits, Covey says that most people think they should give priority to important and urgent tasks. But this is a mistake. "It's like the pounding surf," he says. "A huge problem comes and knocks you down and you're wiped out. You struggle back up only to face another one that knocks you down and slams you to the ground." You are "literally beat up by problems all day every day."

All urgent tasks - both unimportant and important - are problematic: They are urgent because you've neglected something or because they are important to other people (like your boss). In either case, you need to find a way to keep most of them from winding up on your daily to-do list. This means making some changes in your work habits - usually a combination of being more efficient and delegating more chores to other people.

Urgent tasks will burn you out. And turn you into an unhappy workaholic. If you want transformation in your life, you have to give priority to the important but not urgent tasks - because those are the ones that will help you achieve your major, long-term goals.

It's not easy.

The important but not urgent tasks whisper, while the urgent tasks shout. But there is a way to get that critical but quiet stuff done in four simple steps:

Step 1. When planning your day, divide your tasks into Covey's four categories: not important and not urgent, not important but urgent, important but not urgent, and important and urgent.

Step 2. You will, of course, have to do the urgent tasks - at least until you get better at taking charge of your schedule. And you will have to find a way to get rid of the tasks that are not important and not urgent. But make sure you include one important but not urgent task that, when completed, will move you closer to one of your long-term goals.

Step 3. Highlight that important but not urgent task on your to-do list. Make it your number one priority for the day.

Step 4. Do that task first - before you do anything else.

Initially, you will find it difficult to do an important but not urgent task first. There are reasons for that.

Since it is not urgent, you don't feel like it's important. But it is.

Since it supports a goal you've been putting off, you are in the habit of neglecting it.

You are in the habit of neglecting it because you don't think it's important and because you might be afraid of doing it.

You might be afraid of doing it because you know, deep down inside, that it will change your life. And change, even good change, is scary.

But once you start using this little four-step technique, you'll notice something right away.

The first thing you'll notice is how good you feel. Accomplishing something you've been putting off is energizing. It will erase some doubts you have about yourself - doubts caused by years of "never getting to" your long-term goals.

That extra energy and confidence will grow, and will fuel you throughout the day. This will make it easier for you to accomplish other important but not urgent tasks.

As the days go by, you will realize that you are making measurable progress toward your neglected goals. In just a few weeks, you will be amazed at how much you've already done. And in 52 weeks - a short year from now - you will be a brand-new, much more productive person.

That year is going to pass by anyway. You are going to spend the time somehow. Why not do it by taking charge of your schedule? Why not spend that time on yourself - on what's really important to you?

Winning The Private Money Lender's Trust

2008-03-29T07:15:00.000-07:00

In my last article for Early to Rise, I revealed 14 ways that private lenders can help you take your real estate business to an incredible level of success.

Today, I'll show you how to take the next step: building trust between you and the people who can fund your deals.

When I decided to work with private lenders, I knew the individuals I wanted to reach were financially savvy and could appreciate the generous interest rate I offer. But people with ample finances get tons of requests for their money. So my biggest challenge - and a challenge you're sure to face when finding private lenders - was getting them to trust me enough to do business with me.

I named my company "Integrity Home Buyers" because the word integrity has meaning for me. It is the way I run my business and my life. The people around me know this, but when I decided to seek out private lenders outside my own circle of friends, they simply didn't know me. And I was asking those people to give me large sums of money and trust me to do what I said I'd do. So I had to convey my philosophy to them.

You can build trust in dozens of ways. But there are four trust-builders that have helped me find more than enough private lenders to fund all the real estate deals I want to do.

Trust Builder #1: Reach Out to the Right People.

When I started looking for potential lenders, I first determined common denominators among my target group that would help me reach them effectively.

I found that I could get an extremely targeted list of names of potential lenders from a list broker. (You can find a list broker in the phone book or on the Internet.) The list can be tailored almost any way you want, so I requested the names, addresses, and phone numbers of people who met the following criteria:

1. They owned their own home.

2. They bought items through the mail.

3. They owned bank Certificates of Deposit (CDs).

4. They were located in our county.

Here's the logic behind my choices:

1. They owned their own home.

People who own their own home are probably already aware of what a great investment real estate can be.

2. They bought items through the mail.

If they buy things through the mail, I figure they will take time to read things that I send to them through the mail. (One of my primary marketing tools at the time was a postcard.)

3. They owned bank Certificates of Deposit (CDs).

These people obviously have available money. With the banks paying a pathetically low rate on CDs, my program is that much more attractive. (That was true when I got into the business - and CD rates are even lower today.)

4. They were located in our county.

This criterion is crucial to building trust and credibility. I focus on my local market, because it is likely that they already know about me from my other marketing efforts. They've seen my "I Buy Houses" signs for years. I sponsor Little League teams, so they may have seen the T-shirts with "I Buy Houses" and my phone number. And they may have read newspaper articles the local paper has done about my company.

In short, I believed from the start that lenders would be comfortable loaning to one of their neighbors. Plus, since they'd already seen my ads and heard about me in the community, they'd believe I was the real deal. And I figured they'd enjoy being able to drive by the house on which they held the mortgage while my crew was doing the work. (This turned out to be another huge trust builder. It made them feel safe, seeing exactly where their money was.)

Trust Builder #2: Crush Your Prospects with Credibility.

Once I received my list of targeted names, I mailed postcards inviting them to a luncheon. I didn't have a tremendous crowd, but I didn't need one. The number of guests didn't matter as much as the number of guests in my targeted market who could take advantage of my program.

One of the best ways to establish your integrity is to create a "credibility kit" that you can hand out to potential lenders. Mine is a 30-page, spiral-bound book. On the cover are color pictures of more than a dozen houses I've bought and rehabbed. Before they even open the book, they see before-and-after pictures that show I have a seasoned real estate business... evidence of my work that they can drive by to see in person.

Inside the book, you want to include information that sends a strong message that you are a trustworthy person who knows his or her business. My book includes a brief history of my investing career, my company philosophy, pages of testimonials, certificates from training I have completed, and information-packed special reports.

Trust Builder #3: Become a Household Name.

The credibility kit is a great start, but you can't stop there. To grow your business, you want your name out there. You want the prospective lender to say, "Hey, I've heard of you." Or "I've seen the T-shirts on the Little League team you sponsor." Or "You're the 'I Buy Houses' guy." Familiarity makes an impact, and recognition conveys credibility.

For example, about a year ago I was able to add something new to my credibility kit: a copy of an interview with my local newspaper. They did a long article with lots of great information about my company and my lender program. Then, recently, the reporter came back and did an article focusing on the lender program - which, of course, I am now adding to my packet.

Talk about credibility! That's the kind of publicity money can't buy.

Trust Builder #4: Join the BBB.

Another credibility-building tool is to join the Better Business Bureau. It's a great way to let people know that you consider yourself a serious, responsible businessperson. It also authorizes you to use their logo on your materials, which further conveys credibility.

People frequently check with the BBB before making a major financial decision. With good reason. To be a member of the BBB, you have to agree to "follow the highest principles of business ethics and voluntary self-regulation" and "have a proven record of marketplace honesty and integrity."

Early in my career, all of the above strategies combined to take my real estate investing to new heights. I had targeted my market correctly, won the trust of several private lenders, and had awesome results. After just two luncheons, I had $1 million to buy houses with... without having to hassle with a bank.

What Comes First? The Product?The Promotion?

2008-03-29T07:18:00.000-07:00

At last year's ETR/AWAI Bootcamp, I was chatting with Michael Masterson before we were to give a presentation together. We were talking about what motivates people to buy the kind of programs that ETR and AWAI market.

"People, especially as the years pass, don't just care about becoming a millionaire or making six figures," he said. "What they are after most," said Michael, "is a certain kind of lifestyle... and living that life on their own terms. Money for them is mostly a means to that end."

I am convinced he is right, and marketers who simplistically trumpet "get rich" in their ads are making a mistake. Instead of selling the obvious benefit, they could be reaching their prospects on a deeper and more powerful level.

I saw this principle in action in a series of TV commercials for ITT Tech, an institute offering career training for adults.

In the old days, ads for career-training places implied that if you took their program you'd make a lot of money.

One of my clients in the career-training field back then ran an ad featuring a student standing proudly next to his new Jaguar. What the ad failed to mention was that he bought the Jaguar with money he won in a personal injury lawsuit, not with money he earned as a result of his training.

Anyway, the new ITT Tech ads are different. They feature interviews with students who graduated and are now gainfully employed. But they don't talk about money.

One of the graduates talks about how proud his kids are to see him put on a suit and tie and go to work every day. Another one talks about the overseas business trips his company sends him on, and says how he loves to travel, try new foods, see different cultures, and meet new people on the job. He says nothing about money. His mother is in the commercial, too, saying how proud she is of her son.

I have coined a name for this type of marketing. I call it "lifestyle promotion."

The marketing for the ROM Cross Trainer is an excellent example. The machine looks something like Santa's sleigh. It costs $14,615. The ad claims it can get you fit in only four minutes a day. And the company has been selling them since 1990.

Given the $14,615 purchase price, I'm guessing the target market for this product is upper-middle-class people earning six-figure incomes. They want to look and feel better, tone their bodies, and lose weight. They are told by doctors and trainers to exercise at least 20 to 30 minutes - maybe even an hour - anywhere from three to seven days a week.

But these are busy people. "I don't have time to exercise!" they say. So the ROM Cross Trainer is the perfect fitness solution for them: You can get all the exercise you need - a complete workout - in just four minutes a day!

Plus, for many of them, time is money. For an executive or entrepreneur whose time is worth, say, $100 an hour, the ROM Cross Trainer is, again, the perfect fitness solution. By cutting his exercise time by five hours a week, it will pay for itself in less than eight months - making it a good investment instead of an expense.

Instead of taking time out of your day to train at the gym, your daily exercise routine is over in less than five minutes - without leaving your home or office. Instead of going to work out at night, you can get home at a reasonable hour and have dinner with your spouse and kids.

It's all about lifestyle.

Lifestyle promotions can be written for almost any product and any market. But I find they work best with "lifestyle products" that have been "reverse engineered." In other words, instead of starting with the product, you start with the lifestyle desired by your target market. Then you design a product that helps them achieve it.

You can even write the lifestyle promotion first, creating copy you are confident will sell like gangbusters. Then you design a product that delivers on the promises in the copy.

MP, a copywriter, tells the story of how he was hired to write a direct-mail package to sell a book on decorating. As MP tells it, when he handed in his copy, the marketing director told him, "It's great - but the book doesn't fit what you've written."

MP swears the publisher had the author totally rewrite the book to fit his promotion. (And it was a big success.)

How To Make Your First Product Launch A Resounding Success

2008-03-29T07:21:00.000-07:00

Every time you launch a new product online, you have the chance to drastically increase your profits. As I explained last week, the best way to generate momentum, interest, and monster cash flow is to turn the launch into an event. Internet users have millions of messages vying for their attention all day long. And by creating an exciting event, you'll break through the clutter and get tons of eyeballs looking in your direction.

I've already given you some ideas on how to do that. I showed you how to use a "pre-launch" to get people salivating for the actual launch. And I talked about how to use different media to grab the attention of as many potential customers as possible.

Now, here are five more strategies to make your first Product Launch a huge success.

1. Use social proof.

Social proof is a mental trigger that makes people want to do what other people are doing. So if you can show that other people are buying your product (or planning to), you will have an easier time selling it.

During your pre-launch, for example - when you get lots of people commenting on your blog or on message boards about how much they like your product... that's social proof. Your prospects can see that other people are excited about buying it. That will make them more inclined to buy it as well.

How do you get all that buzz? One easy way is to run a contest where you give a prize to whoever posts the best comment on your blog.

Another good example of social proof is testimonials from people who have benefited from your products in the past. So be sure to include lots of them in your marketing copy.

Yet another way to use social proof is with "case studies." (Actually, a case study isn't much more than a long testimonial.) For example, when I began the pre-launch for my new Product Launch Formula 2.0, I published an extensive video case study of a man (John Gallagher) who literally went from food stamps to having a six-figure business. At the end, I invited my readers to comment on the case study on my blog. Within a couple of days, I had more than 300 "rave reviews" from people who had seen it.

You can see the John Gallagher case study here.

2. Use scarcity.

Scarcity is another mental trigger that makes people want to buy. When there is less of something, they want it more.

You can create scarcity by limiting the quantity of whatever it is that you're selling. But I usually don't like to do that because it limits the amount of money you make. I prefer to limit the amount of time people have to take advantage of the deal. So I set a deadline, after which the price will be higher. And I offer extra bonuses that people will no longer get after the deadline.

I do this with almost every launch. For example, in the pre-launch for a membership site for loan officers, I offered bonus teleseminars for people who signed up on the very first day. This gave them a big incentive to act right away when the launch went live.

Your prospects will respond to a deadline like you wouldn't believe. Don't forget to send a last-minute notice 24 hours before it expires. And again about six hours before the deadline. Get ready for a rush of orders right at the end.

3. Get joint venture partners on board.

When you get other people promoting your launch to their lists on an affiliate basis, you multiply its effectiveness.

Give your partners a reason to mail to their lists when you are still in pre-launch by giving them some high-quality content to use. The content should lead people back to your site so they can sign up to be on your pre-launch "priority notification list."

Communicate with your partners throughout the launch. Let them know what's coming and why they should continue to send you traffic. And keep giving them reasons to mail to their people multiple times. The best way to do that is to give them a series of pre-launch content pieces to be released at different times.

For example, in a recent launch in the massage therapy market, one of my students released a series of content-rich downloadable PDF reports. These reports not only had solid information that would appeal to massage therapists, they were designed to get people excited about the launch. The joint venture partners were encouraged to send their lists to a page where they could download these reports... and join the pre-launch priority notification list.

4. Don't be afraid to keep e-mailing your prospects.

I call each e-mail leading up to a successful launch a "touch"... and you want to keep touching your prospects. But you have to have a reason for each touch. (No one wants to get an e-mail telling them to watch out for another e-mail in a day or two.)

For example, long before the product launch (and while the product is still actually being developed), I often send a survey to my list, asking them what they think the product should have or do. When I get their feedback, I send another e-mail to thank them for their responses and tell them what I learned. I follow up that e-mail with one or more e-mails that answer any questions or concerns they may have raised about the product. (I take one question per e-mail, and answer it thoroughly.) What I'm really doing here is pre-selling the product.

None of these e-mails are hype-filled sales messages. I am either asking for or giving solid information in each one.

As I get closer to the launch, the frequency of my e-mails increases... and I start to talk more specifically about the product and the offer.

Now this might sound like a lot of work. But it really isn't hard to do... especially when you consider the enormous payoff.

5. Perfect the launch process.

The single best thing about your first product launch is that it's just your FIRST launch.

You can take what you've learned and do it over and over again. And each time, it will get bigger and bigger. Soon enough, you'll be thinking about your own six-figure (or even seven-figure) launch.

So good luck. Go get 'em!

The Power Of Visualisation

2008-03-29T07:23:00.000-07:00

Years ago, very early in my career, I attended a two-day training session on the power of visualization and goal setting. I believe it changed my life.

I was working for a financial division of General Electric in New York City. GE was very big on continuing education for their employees at every level of the organization.

Most everyone in the training session that day, including me, was in their early twenties and had administrative positions. A few of my co-workers were skeptical about the session. They thought it was hokey and would have no real, tangible benefit for them. They looked at it as two easy days out of the office.

The session started with a series of mental exercises. Then the facilitator asked us to close our eyes and see ourselves in 10-15 years.

We went around the room, listening to each person's visualization, one by one. Most of the participants weren't very enthusiastic. They had little to say and just a vague idea of where they saw themselves in the future.

Finally, it was my turn. I announced to the room that I saw myself in a professional office environment, wearing a red "power" suit. I was confident and respected. I seemed busy, but in control. I was knowledgeable and successful. I described a complete scenario, right down to the wood my desk was made of (mahogany).

Now I wasn't sure what my actual job was in that scenario. (At the time, I was an administrative assistant in the company's marketing department and was going to college, majoring in pre-law.) Yet, I could see myself as an accomplished, corporate professional.

Until then, I'd never envisioned with such clarity what I wanted to do with my life. However, after seeing in my mind's eye where I wanted to be, I was inspired to put in the time and education needed to get there.

As with any journey, having a map helps you get to your destination quicker than if you try to go it alone. And that's what visualization is: a mental blueprint or personal roadmap for success. The image I had of myself and my future made it easier for me to take the actions I had to take.

In two years, I advanced from an administrative to a directorial position. And because I was so eager to achieve my "vision," I continued to work full-time while going to school full-time to complete my Bachelor's degree. The fire within me continued to burn, and I went on to graduate school, completing my Master's degree several years ago.

So for those who say the power of visualization is baloney, I say "It works." And I'm not the only one.

Bob Cox, the "voice" of ETR's Total Success Achievement program, is a big believer in the power of visualization. "It helps you reconnect to the 'why' behind your goals," he says. "Why do you want additional income? If the reason is to buy a new car, visualize what your new car looks like and what features it has. If you want to take your family on vacation, visualize in detail where you're going and what you're doing. Visualizing in detail will keep your goals real and motivate you to take action."

Robert Ringer has been an advocate of visualization for many years. He uses "active visualization" to handle obstacles in the boardroom and on the baseball field. Michael Masterson has used visualization to help reduce the anxiety of facing a challenge. And Brian Tracy recommends using visualization to transform bad habits into good ones.

You can apply the technique of visualization to attract success, money, love, health, power, and more.

What do you want? Where do you want to be in five or 10 or 15 years? Get a mental snapshot of the "big picture," then let your mind fill in the specifics. You may even find a picture in a magazine - a beautiful house, a sports car, or a person with a super-fit body - that will be your motivation for success.

Once you have a concrete vision in your head, you'll be much more excited about doing what's necessary to turn it into reality.

See what the power of visualization can do for you... and put yourself in control of your own destiny. You won't be disappointed.

[Ed Note: Wendy Montes de Oca is ETR's Vice President of Marketing & Business Development. People from all over the country have already experienced the power of managing their destinies through motivation, determination, and goal setting. Discover the secrets that have made them successful. Click here now to learn more.]

* Highly Recommended *

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Rick Pendergraft makes as little as $300 an hour... more often it's up to $5,200. He will teach you his step-by-step system on how you can do the same this April at Early to Rise's Profits in Paradise conference in Orlando.

Best part: You need little money to get started. And no experience necessary, please!

Just make sure you are in Orlando along with the rest of us to attend Rick's session. For more details, click here.

Getting Tough and Taking Names

By Michael Masterson

Matt Furey is changing his sign-off line from "Kick butt and take names" to "Get tough and take names." And I understand why he's doing it. It's important to be tough - mentally tough. And Matt's a master at it.

There is no question. To be successful at anything, you have to be prepared to endure criticism - some unjustified and some justified. (Does it surprise you to know that the justified criticism hurts more?) The more successful you are, the greater the criticism you will endure.

But if you last long enough, you become immune to criticism. Your emotional skin toughens. This takes a long time.

When someone tells you they don't care what other people say, it usually means they do. Too much. But if you push forward and don't allow your detractors to distract you, you will eventually get to a height they can't reach.

I'm not there yet, but I can see it just above the next ledge. At those aerie heights, legends live. Like Galileo, Einstein, Ezra Pound, and George Carlin. On the very-soon waiting list are Howard Stern and Jerry Springer.

Ascending that cliff takes many skills. One of them is honesty - admitting your mistakes and shortcomings. Another is openness - admitting them publicly. Another is shrewdness - admitting them before anyone else does. And, finally, there is forgiveness - forgiving your critics and forgiving yourself.

Which is to say that getting tough is sometimes a matter of getting tender.

The Best Way To Enter A New Market

2008-03-29T07:26:00.000-07:00

When I was in college, I was desperate to find a way to make some money. And I wasn't crazy about the idea of working at the usual part-time, minimum-wage jobs available to students. So I came up with a business plan and put it into action. One hot summer day found me trudging from door to door, passing out flyers and praying that I would get some customers from the effort.

By the time I returned home, I'd received my first inquiries. And those quickly resulted in my first customers. Within a week, I had a business that was earning more money than I needed. Within a year, that business earned over $100,000 in profits. Not bad for a college kid living at home with his mom!

That first successful start-up was a pool service. Since then, I've launched more than a dozen very profitable small businesses. When I analyze what made those businesses successful, I can pinpoint several reasons. But my pool service was successful because of one business strategy: price.

I got people's attention by offering a monthly rate that was 20 percent lower than the competition. On top of that, I had an introductory "special."

Michael Masterson says that underpricing the competition may be "the most important secret a businessman can know, for it is the most powerful and most reliable way to make a small business grow." It's also one of the best ways to enter a market and grab a share of the customer base.

When it comes to consumer merchandising, a small business can't compete with giants like Wal-Mart. But a new service business can usually offer a better price than larger established companies providing the same service. That's primarily because a small start-up can keep overhead low and sometimes accept a smaller profit margin. So if you can operate your small service business out of your back bedroom, without hiring a lot of employees or needing a lot of fancy equipment, you can almost certainly afford to underprice the competition.

But just because you enter the market with the lowest price in town doesn't mean you stay there forever. For example, one of my entrepreneurial ventures later in my career was a ballroom dance instruction business. When I entered the market, I was a one-man operation, and I offered lessons at $29 when most studios charged $60. Sure, I made less money per lesson, but it was still pretty good money for me at the time. And once I had a nice little client base, I gradually inched up to the going market rate. That allowed me to hire other instructors to teach the lessons... and freed up my time to develop additional sources of income.

I already had considerable experience as a ballroom dancer - and teacher - before I decided to go into business for myself. But with the pool service business, the only "skill" I needed was the willingness to do the work. So let's go back to that example so I can show you how well the underpricing strategy works.

Here in South Florida, where I live, the average monthly rate for pool service is about $65. In this particular industry, an account is generally worth six times the monthly gross. So an average pool account would be worth $390.

But let's say you decided to get into the business by undercutting the competition by $15 a month. That means your average account would be worth $300. That's a difference of just $90. Would you be willing to give up $90 a month to get a loyal, long-term customer?

And you'd only have to give up that $90 for the first six months. I can tell you from experience that if you do a good job of servicing your pool customers for six months and then raise your price by $15, at least 95 percent won't drop you. In fact, most of them will feel that they got a bargain, because they enjoyed a very low price for a reasonable period of time. It's not like you low-balled them and then jacked up the price right away.

And, let's not forget that you were still making money on all those initial $50 accounts... just not as much.

Here's how to use this strategy to start a small service business:

Identify a service business where you see a chance to compete on price.

Some of the easiest service businesses to get into are house cleaning, lawn maintenance, exterminating, and car washing. Services like these are often offered by big operations that have been in business a long time. But they tend to have big overheads, and aren't hungry for new business, so their prices are somewhat inflated. Crunch the numbers and see if you can offer the same level of service at a better price.

Create a marketing campaign that emphasizes the price savings.

Whatever advertising medium you choose, make sure the discounted price is mentioned prominently. For the pool service business, I used flyers and direct-mail pieces. But for the ballroom dance business, I started with classified ads in newspapers and the local Yellow Pages.

A good way to emphasize the savings is to show how it adds up over time. For instance, in the pool business, I didn't just tell prospective customers that they'd be saving $15 a month, I pointed out that they'd be saving $90 over six months.

One thing to keep in mind: Make sure your customers know they won't be getting a lower standard of service from you. Explain that you can provide high-quality service with a lower price because, for example, you're doing the work yourself and have practically no overhead.

Be ready to begin operations immediately.

When you launch a marketing campaign that offers a greatly discounted price, you can expect to get customers ready to do business with you in as little as a few hours. So make sure you're prepared. Providing the promised service efficiently (and well) will assure your profitability.

The Problem With Internet Entreprenuers

2008-03-29T07:28:00.000-07:00

I recently got an e-mail from a man I'll call Jim, a longtime ETR reader. His question is probably the most common question I get. If you are interested in breaking into the Internet, pay attention. What I have to say to Jim might give you the information you need to get started.

Jim writes:

"I have been struggling with the idea of starting my own Internet-based business. The question is, how and with what product or service?

"I have been a loyal fan of ETR for many years now, and you guys throw so many sound ideas and businesses at me it gets a little confusing. I would like to start small with some proven methods and techniques and build from there. I do not have countless thousands of dollars to experiment with, nor do I have the luxury of being able to sit in front of my computer day in and day out. I need your help to get me started in the right direction with a system that will hopefully start generating some return fairly quickly.

"I believe in and trust your advice more so than anyone out there when it comes to building an Internet-based business - or any other type of business, for that matter. Please help me make this the year I finally took the plunge and started achieving success!"

Everybody knows what a great opportunity the Internet offers. It is the only medium where someone without a lot of money can start a multimillion-dollar company. There are lots of good programs available that teach the ins and outs of Internet marketing. But choosing the right product or service to market... there's the rub!

I'm going to give Jim some general advice. And then MaryEllen Tribby (ETR's publisher and CEO) and Patrick Coffey (ETR's Director of Internet Marketing) will jump in with some specific suggestions.

Which product to choose is a big question. Not the kind that can be answered simply and quickly. It depends so much on you - who you are, who you want to be, what you know, what you don't know, etc.

That said, a few general suggestions apply.

First, and most important, it is always best to start a business in or around an industry/area that you understand. So many of the most expensive mistakes first-time entrepreneurs make are "outsider" mistakes - errors that someone with experience in the field would not have made.

Lots of first-time health publishers, for example, spend too much time explaining the disease or health problem they hope to cure. They do so both in the publications they create and the promotions they use to sell those publications. What these novices don't understand is that the most active health buyers don't need to know more about their problems. They can find out all they want to know on the Internet - for free. What they need are solutions.

So the first thing you must do is make a list of all the things you know about. Start with the business you are in (or employed by). But don't stop there. Include all your hobbies and interests too. You don't have to have any professional experience to know enough about a subject to start a business based on it.

I have a friend who started a successful business providing advice about astrology. She'd never taken a course in it or received certification. But she'd read about it for 30 years, and her knowledge was deep and wide. Because of that, she began her enterprise with a good idea of what kind of astrology she would practice and what kind of products and pricing would work.

Another friend started a successful Internet business selling martial arts information. He was a world-class black belt who had been competing for 20 years. He knew the industry inside and out. So he had some good ideas about new and exciting instructional videos he could produce that really caught fire.

This brings us to my second-most-important suggestion: If you are not an expert at direct marketing, you should become one before you spend a nickel on your new business.

I cannot overstate the importance of understanding the techniques of direct-response marketing. Direct marketing is the primary method for generating profits on the Internet. Other forms of advertising - from public relations to event marketing to social media and branding - are usually not nearly as effective.

Luckily, there are plenty of good information products and educational programs available that teach direct marketing for the Internet. On top of the list, I'd put ETR's own Internet Money Club, The Magic Button, and Instant Internet Income. But I'd also recommend Bob Bly's Internet Marketing Retirement Plan.

My third and final suggestion is this: In addition to focusing on an industry you are already familiar with and becoming an expert at direct marketing, you must learn the fundamentals of entrepreneurship. Starting a business can be a daunting task for the beginner. Most of those who try fail. And with good reason: They make some very basic mistakes.

The biggest mistake first-time entrepreneurs make is spending too much of their time and money on all sorts of secondary business concerns (getting business cards, setting up a website, finding a business location). But when you're starting any new business, your priority has to be on making sales. In fact, at this stage of the game, at least 80 percent of your time should be devoted to selling.

To bring yourself up to speed, I recommend that you read Ready, Fire, Aim: Zero to $100 Million in No Time Flat. The book is based on my own experiences with building small businesses. It's all about how to get your business off the ground and continue to grow it.

Okay. Those are my general suggestions. Now, here's some specific advice from MaryEllen and Patrick:

To develop your marketing materials, hire a copywriter who has in-depth and up-to-date knowledge of your niche. They should be on the cutting-edge of their specialty and always learning, whether it's the financial markets or alternative health. "I never hire a copywriter who says they can write about anything," says MaryEllen.

Do some quick research, then TEST your idea. Says Patrick, "One of the biggest problems I see is that people will take too much time analyzing what market to get into. I'll talk to people who have been studying one of our programs for months and they'll say, 'I'm still in the market research stage.' In my opinion, market research for a new online business should take no more than a week."

A week is plenty of time to decide what to sell. In fact, it's a generous amount of time. At ETR's annual 5 Days In July Internet Marketing Conference, attendees have to make this decision in a day.

To figure out what market to enter, you need to look for two things:

1. Are people looking for this information?

2. Are people buying this information?

"And," says Patrick, "you can get the answers to these questions very quickly with a few key strokes.

"One of the best ways to find out who is looking for what is with a free tool like WordTracker. And to determine if people are buying, simply enter a few search phrases for your product in Google. Then check the Web pages of the advertisers that come up. The fact that they're paying for advertising and selling stuff is a good indicator that the market they're selling to is buying.

"Sign up for e-mail lists of potential competitors, study their marketing materials, and even purchase some of their products. After that, you immediately begin working on your own offer so you can start testing. That's what students of our Internet marketing programs who become most successful do."

Will all the ideas you'll come up with work? No. But the only way you'll find out is by trying to sell to the market. If an idea does not work, simply try to re-work the offer or explore a new idea.

Remember that starting an Internet business - just like beginning any worthwhile venture - will take work. In his e-mail, Jim talked about wanting to generate some return "fairly quickly," despite the fact that he does not "have the luxury of being able to sit in front of [his] computer day in and day out." You need to have realistic expectations when you begin a new business. And one thing you must be prepared for is that it takes time and energy.

One last piece of advice from Charlie Byrne, ETR's Editorial and Creative Director: Get started. Now. By no means is this all you need to know about starting an Internet business. But the best way to get it going is to begin. Ready, Fire, Aim. You can take time to adjust your product or marketing later. What's most important is taking that initial leap.

The Difference Between Getting Rich And Being Rich..

2008-03-12T00:27:00.000-07:00

A few years ago, Donald Trump wrote a book entitled "How to Get Rich." Ho-hum.

Far superior, in my view, is "How to Be Rich" by J. Paul Getty, originally published in 1965.

Trump focuses almost exclusively on making money. Getty - the world's first billionaire - is more concerned with wealth as a way of life.

"After all," he writes, "'richness' is at least as much a matter of character, of philosophy, of outlook and attitude, as it is of money. The millionaire mentality' is not - and in this day and age, cannot be - merely an accumulative mentality. The able, ambitious man who strives for success must understand that the term rich' has infinite shadings of meaning."

Getty's consuming passion, aside from building a considerable fortune in the oil business, was art. Throughout his life, he collected hundreds of paintings, sculpture, tapestries, and fine antiques. (Many of them are now on display at the J. Paul Getty Museum in Los Angeles.) He was a great believer in the enriching qualities of art. And he viewed with disdain the lowbrow culture of our time, often referring to his fellow men as "educated barbarians."

"Entirely too many Americans insist that they can see no reason for developing any cultural interests or appreciation of the arts. Some say they haven't time' for cultural pursuits. Yet, week after week, they will spend dozens of hours at country clubs, loafing here or there, or slumped in easy chairs in their homes staring blankly at the vulgar banalities that flash across the screens of their television sets."

(Bear in mind, this was written 40 years before the advent of "Reality TV.")

"Americans must realize that an understanding and appreciation of literature, drama, art, music - in short, of culture - will give them a broader, better foundation in life, and will enable them to enjoy life more fully. It will provide them with better balance and perspective, with interests that are pleasing to the senses and inwardly gratifying."

Personally, I've always had an amateur's interest in the arts. But lately I've been stretching out a bit, experiencing things I wouldn't usually bother with. In the process, I've made a few surprising discoveries.

Last night, for instance, I ventured out in a pouring rainstorm with a good friend to hear a concert sponsored by a local art gallery. It was Le Trio Joubran, three oud players (and a percussionist) from Palestine. It was highly improvised Middle Eastern music, definitely not the kind of thing you'd hear at The House of Blues. It was pretty exotic - and exceptionally good. (For a brief taste, visit the website, and click on the audio sample.)

Last Saturday, too, I dropped in on the Kerouac Festival at a local community college to hear a recital by Billy Collins, the nation's Poet Laureate from 2001 to 2003. Some of you may spontaneously recoil at the thought of listening to 90 minutes of poetry, with no place to run. But settle down. This is not "Shall-I-compare-thee-to-a-summer's-day" stuff.

Collins writes in a lucid, plain-spoken style that even lay readers can appreciate. And he, too, finds poetry in the most mundane aspects of everyday life. For example:

Dharma

The way the dog trots out the front door

every morning

without a hat or an umbrella,

without any money

or the keys to her doghouse

never fails to fill the saucer of my heart

with milky admiration.

Who provides a finer example

of a life without encumbrance.

Thoreau in his curtainless hut

with a single plate, a single spoon?

Gandhi with his staff and his holy diapers?

Off she goes into the material world

with nothing but her brown coat

and her modest blue collar,

following only her wet nose,

the twin portals of her steady breathing,

followed only by the plume of her tail.

If only she did not shove the cat aside

every morning

and eat all his food

what a model of self-containment she

would be,

what a paragon of earthly detachment.

If only she were not so eager

for a rub behind the ears,

so acrobatic in her welcomes,

if only I were not her god.

Okay, this is not "Death Be Not Proud," but so what? When was the last time you heard an audience laughing and applauding all the way through a poetry recital?

J. Paul Getty was on to something - the idea of being rich, not just having riches. Sure, exposing yourself to art is just one aspect of enriching your life, but an important one. As the German writer Johann Wolfgang von Goethe wrote a couple hundred years ago, "One ought, every day at least, to hear a little song, read a good poem, see a fine picture, and if it were possible, to speak a few reasonable words."

Take a few minutes to peruse the Weekend section of your local paper and I'll bet you'll find a concert, a gallery, a play - something - new to appreciate. And to share.

In the end, not everyone among us will get rich. But we each have the opportunity to live a rich life.

How To Get Search engines To Love Your Site.

2008-03-12T00:17:00.000-07:00

"Like China, the Internet is a huge new market. It's up to you to figure out what to do with it. Use it as a prospecting tool, make connections with people, add value for your existing customers."

- Larry Chase

In the world of search engine marketing, links are extremely important. Search engines view inbound links to your website as votes - endorsements of your site and its content. The more of these votes your site receives, the more the search engines regard it as a trusted source and the more likely you are to rank high in their search results for your keywords.

There are many different kinds of websites you can get links from. There are links from big trusted sites and directories like Yahoo and DMOZ, links from relevant vertical search engines, links from respected industry organizations, links from forums and blogs, and so on. And there are almost as many techniques for getting the links from these sites that the search engines love.

Today, I'll talk about one of those techniques: how to use social media for building links.

The term "social media" typically refers to social news sites like Digg, social bookmarking sites like del.icio.us and StumbleUpon, and social networking sites like MySpace and FaceBook. Social news and social bookmarking sites are the most common social media sites used in a link-building effort.

These sites were designed specifically for people with shared interests to post and vote for content all over the Internet. Social media is a great way to get your articles and website content in front of a large group of people in a relatively short amount of time. And this can generate lots of traffic to your site.

Now you may be thinking: "Um, didn't Patrick Coffey just tell me that social media will bring my site useless traffic?" Yes he did. And he's right... mostly.

Through my own recent experiments with link building through social media (as Patrick mentioned), I attracted over 28,000 visitors to our health-newsletter site, Total Health Breakthroughs. And a measly 0.2 percent of those visitors signed up for the newsletter. If this were the only marketing technique we were using to build the e-mail list for the newsletter, we'd be in some seriously sorry shape.

We've made some improvements to ensure that our conversion rate will be higher next time. Still, despite getting a disappointing number of subscribers from all that traffic, my little experiment with social media did have a positive side. It also resulted in about 600 inbound links.

This is how social media can give you a big boost, especially if you are just starting out building links for a new site. If a page of your site makes the first page on Digg or gets a lot of reviews on StumbleUpon, you get that much more exposure to Web users who have their own sites and blogs. If these bloggers and website owners like your content, they'll link to you. This has the potential to build your links exponentially! And remember, the search engines love it when your site has lots of relevant inbound links.

"All right, you've convinced me! So now what do I do?"

1. First, you have to have interesting content.

For some ideas on how to create top-notch content that will help your website's pages do well on social media sites, take a look at David Cross's "Bad Writer's Guide to Creating Website Content" and Patrick Coffey's "Creating Content for Your Website."

2. Then you have to present that good content in ways that will get the attention of social media junkies.

Here are four types of content that social media users love:

Lists - Some would say lists are cliched or overused by now, but they still work. Top-10 lists seem to do really well, particularly on Digg. As I write this, there is a story on the first page of Digg with the headline "The Top 10 Places to Take a Techie on a Date." So if you can rework a page of your content or one of your articles into a Top-10 list, give it a shot.

How-To Articles - Like lists, how-to guides do well. If you're in the business of teaching people how things are done, you're one step ahead of the game.

Controversial Topics - People love controversy, but use this tactic wisely. You don't want to misrepresent yourself or your site. You just want to create a buzz.

Catchy Headlines - As with every other form of marketing, your headline is key in social media. Craft it carefully to attract the most attention.

3. In addition to having the right content on your website, you have to comply with social media's unwritten code of conduct.

There is a reason social media is also known as social networking. When you create an account on a social media/networking website, you are literally signing up to be part of a community. Kind of like a condo association, the early adopters and hardcore users of social media sites take their communities very seriously. And they like it best when you play along.

If there's anything this society hates, it's overt marketing. If they suspect you are participating in their network purely to promote your site, they will report your submissions as spam and can even have the site disable your account. So here are some tips to help you appear more like a real person and less like a loathsome marketer.

Upload an Avatar - An avatar is a little picture that's associated with your account. It's a pixilated ambassador that represents you and all the actions you perform on your account. An account profile without an avatar is a pretty good indicator of a marketer.

Don't Submit Content Solely From Your Website - This would seem like a no-brainer, but it is often forgotten. If the only pages you submit to a social media site are from your website, chances are you're a marketer.

Add Friends - Friends will usually vote for the content you submit. The more friends you have, the more votes for your content. The more votes you have, the better your chances of getting content on the first page of the social media site. But remember to reciprocate. Nobody likes a taker.

Be a Real Person - A surefire way to look like a real person and not a marketer is to actually be a real person. Social media sites are fun! That's why they're so successful.

Let yourself go, and truly participate in the community. Make friends. Comment on posts. Discover new websites. When you do submit something from your own site, it will simply be another genuine contribution of great content. After all, marketers are people too, right?

Using social media to build links to your website can help boost your search engine rankings. It's a lot of work, but it can also be rewarding... and entertaining. Follow these tips and you'll be well on your way to driving useful traffic to your website.

Enjoy Every Sandwich

2008-03-12T00:07:00.000-07:00

My friend Steve Sjuggerud, editor of True Wealth, used to call me occasionally to ask if I'd read any good business or investment books.

Since both of us already had shelves groaning with them, it got tougher each year to find new ones offering any fresh insights. That was before I read Eugene O'Kelly's "Chasing Daylight: How My Forthcoming Death Transformed My Life."

Three years ago, O'Kelly, the Chairman and CEO of KPMG, one of the largest U.S. accounting firms, was diagnosed with inoperable, late-stage brain cancer. He was told he had three to six months to live.

He was 53.

Suddenly, the life of this rich, powerful and privileged man, whose days were filled with executive meetings and business appointments, became something very different. "Chasing Daylight" is his memoir, the story of his final journey.

"I'd always aspired to be a Renaissance Man. To know about wine and opera, to read books," he writes. "But after a quarter-century at my firm, I rose to the top position. My life changed. The balance in it faded. Spontaneity died... I was always distracted by work."

Suddenly, he was left with less than 100 days to live. "I had so little time left to learn," he says, "yet � ironically � the first (and maybe the last) thing I needed to learn was how to slow down."

With dignified restraint, O'Kelly describes discovering the world around him � nature, family, friends, living in the moment � as if it were all brand new.

"No more living in the future. (Or the past, for that matter � a problem for many people, although a lesser one for me.) I needed to stop living two months, a week, even a few hours ahead. Even a few minutes ahead. Sixty seconds from now is, in its way, as elusive as sixty years from now, and always will be. It is � was � exhausting to live in a world that never exists. Also kind of silly, since we happen to be blessed with such a fascinating one right here, right now. I felt that if I could learn to stay in the present moment, to be fully conscious of my surroundings, I would buy myself lots of time that had never been available to me, not in all the years I was healthy... I would soon discover, though, that staying in the present and being genuinely conscious of my surroundings were just about the hardest things I'd ever attempted."

If you've ever tried to meditate � to still your mind for even a single minute � you know exactly what he's talking about. Sadly, we sometimes need a terminal illness to remind us to embrace the fleeting moments of our lives.

"Enjoy every sandwich," he writes.

With the clock counting down, O'Kelly makes a list of his closest friends and colleagues and plans a final encounter with each one.

"I stopped at each name and made myself recall, in the closest detail possible, all the moments the two of us had enjoyed together. How we met. What made us become friends in the first place. The qualities in them I particularly appreciated. The lessons I learned by knowing them. The ways in which having met him or her had made me a better person."

His friends were touched � usually overwhelmed � to know how much they had meant to him.

In the course of saying goodbye, he would sometimes invite a friend or acquaintance to take a stroll in the park. This "was sometimes not only the final time we would take such a walk together," he writes, "but also the first time."

Most of us promise ourselves that one day � not too long from now - we'll slow down. We'll spend more time with our family. Enjoy a lazy day out with friends. Or just take a walk alone on the seashore. Some day�

If � like me - you're one of the millions who has often deluded himself this way, O'Kelly has just three words of advice: "Move it up."

Eugene O'Kelly died on September 10th, 2005

What It Takes To Be Great

2008-03-11T23:12:00.000-07:00

"Whenever I feel the urge to exercise, I just lie
down and it goes away."

- Mark Twain

In the movie Rocky, there's that pivotal scene. You know the one. It's cold. It's early. And the Italian Stallion, Rocky Balboa, is bounding up the steps of the Philadelphia Art Museum.

Earlier in the story, he barely reached the top. But today, this day, we have the swelling of the trumpets... the soul-stirring chorus... and he's been working hard. He's strong. He's ready. He's... inspiring. Does he make it?

Here's the thing.

I grew up in Philadelphia. I know those steps. In fact, the doors of my high school were a scant 1.3 miles from there. And from October until March, I ran that distance - and back again - almost every day after school. With about 50 other guys on our crew team. And with all of us playing that same Rocky theme in our heads. Only it wasn't the same for us as it was on the big screen.

Our high school crew team was one of the best in the country - and one triumphant run up the steps wasn't enough for us. On reaching the bottom of the steps, you would line up with the other guys and wait for a coxswain to jump on your back. (For those who don't know, the coxswain is that annoying little guy with the bullhorn whose job it is to yell at you while you're rowing the boat.) And then up the steps you'd go. And down again. And up. And down again. Over and over... and over. Until your legs turned to rubber and you were desperately sucking oxygen from the icy air.

It was grueling. And let me tell you, there were no trumpets.

So this is my message?

No, not yet. See, while my high school went on to win the nationals and all kinds of other races that year, I didn't. I quit.

Given a second chance, would I have stuck it out? Maybe. Meanwhile, there was another guy on that same team named Rich G.

Rich was different. He worked harder. Not just harder than me, but harder than just about anybody. Even as a sophomore, he already had a captain's slot on the senior varsity crew team. And when he wasn't rowing, he was an emerging star on the football field too. No question, he was a born athlete. But he had a secret beyond that. One that eluded the rest of us.

Conventional wisdom would say that Rich had the willpower to be great. But I don't think that was it. Not at all.

You might know Rich, by the way. After high school, he went on to college ball. And then turned pro. He ended up with the Oakland Raiders, where he really hit his stride. In 2001, they voted him Most Valuable Player (MVP) in the Pro Bowl. They did it again in 2002. That same year, Rich was voted MVP for the entire NFL. Nowadays, you can catch him - Rich Gannon is his full name - as a regular NFL analyst on CBS.

It plays like the American dream. Kid works hard, excels, and the rest of us are left to learn - yet again - that you can't be a quitter if you want to get ahead. But like I said... I've come to realize that achieving something great, in sports or career or relationships or anything, is not just a question of willpower.

Let me explain...

The Myth of Willpower

No pain, no gain. Just do it. If it doesn't taste good, it's good for you. And I love that logic. It feels solid. It feels honorable. But here's the problem: It doesn't add up.

Think about it. How many enviably successful people hate every minute of doing what it takes to get ahead? How many runners grimace every time they strap on their running shoes? How many "A" students tear up when they crack open a textbook? How many entrepreneurs still complain about getting up early after years of growing a moneymaking business?

Not many at all.

Pick someone, anyone, in that position. They didn't succeed because they're masters at suppressing their displeasure. They don't hate their lives or their choices. When they're grunting their way up the mountain, they're loving it. Every step of the way.

How often have you had to will yourself to do the things you love? Not often, I'm guessing. Maybe never.

So the next question is how they got there from here. And how we can get there ourselves, given what we want out of life.

I had a writing teacher who said, "You're not a real writer until you can't wait to get home to a blank page." I understand that now... because while I'm writing, time evaporates. And willpower has zilch to do with it. What makes it happen? I'm not sure myself. But if I had to guess, I can only pin it down to a simple but powerful shift in desire.

Throwing Sparks Across the "Desire Gap"

I see two lessons here.

First, if you've got a goal, forget about toughing your way toward it. You'll need to work, sure. But you'll never make it if that's all the juice you've got powering your engine. Instead, take the time to embrace the process that's going to get you there. How? By going past the superficial reasons you want to achieve that goal. ("To get rich.") By digging deeper to connect that goal to what it really means to you. ("My family will be so proud of me!")

In the abstract, lots of challenges don't look worth the trouble. But in the details, the process becomes real... and rewarding in itself.

Now here's the second lesson, and this one is more specific to us as marketers and business owners: What's true for us is true for our customers too.

That is, much as you'll try, your advertising can never "trick" a customer into doing something he doesn't want to do... or into buying something he doesn't want to buy. But somewhere in the details of what you're offering, you might find those things that connect your product or service to something he deeply desires. So much that, simply by making that connection, he's going to enjoy giving you his money.

It's that simple.

This is almost entirely what good salesmanship is all about - finding the spark that bridges the gap between a prospect's most deeply held desires and what your product can do.

How to get there?

The secret is nearly as accessible. All you need to do is look beyond the cliches and beyond the superficial assumptions other lesser marketers will almost certainly leap to. And, instead, venture into the specifics, the details.

In his classic book Breakthrough Advertising, Gene Schwartz called this "picking out the vital fact from a maze of information."

"What you are looking for in this product and in this market," he wrote, "is the one element that makes them unique. The idea you want - the headline you want - the breakthrough you want - are all wrapped up inside that product and that market. Nowhere else."

In your advertising, paint the picture of your prospect feeling the way he wants to feel. Talk about it, develop it, let him enjoy that feeling... as you walk him subtly down the path that will lead him there. That's all there is to it.

Sounds easy, don't you think?

A Small Business Success Formula

2008-03-11T23:02:00.000-07:00

"The people who get on in this world are the people who
get up and look for the circumstances they want, and,
if they can't find them, make them."

- George Bernard Shaw

Stuart and I clinked glasses, toasting our upcoming success. It was New Year's eve. My entrepreneurial career had just begun. I was a college student living at home with my mom. I didn't have much money, but I felt good about the $500 each of us had just invested.

About six weeks later, we'd lost our precious money.

We'd been suckered into investing in a poor business idea. The idea? Buying the rights to distribute video memberships where customers could rent videos through the mail for 35 cents. It sounded good, but there were a couple of catches. For one thing, the customer had to purchase an expensive membership. For another, the customer had to pay an exchange fee on every transaction. (Details that weren't included in the sales literature we saw.)

Eventually, I picked myself up from the disappointment of that first business failure. But several other failures followed. And they all fit the same general pattern: Identifying a product that seemed great, trying to sell it, and then discovering it wasn't all it was cracked up to be.

For the longest time, I couldn't see what I was doing wrong. In fact, it took me several years before I figured it out and made a major change in the way I did business. That single change had an enormous effect on my success as an entrepreneur. By implementing it, I was able to create a string of profitable small businesses.

What I'm talking about here is a strategy I call the F.A.N. ("Fill A Need") Formula.

What I had been doing was first coming up with the product or service to sell, and then going out into the marketplace to see if anyone would buy it. But with the F.A.N Formula, I first studied the marketplace to look for customer needs that were not being met. Only if I discovered a hole would I create or find something and try to sell it.

And it's not hard. You don't have to come up with revolutionary new ideas. Sometimes you can find a need for a "bread and butter" type of business that just has to be tweaked a bit to make it stand out from the competition.

My first successful business was a pool maintenance service. I was cleaning my mom's pool when a neighbor peeked over the fence and said, "Hey! You're doing a good job!" Then he started complaining about how expensive and unreliable his pool company was.

A light bulb went off over my head. I realized that there was a big need right there in my own neighborhood. And where there is a need, there is an opportunity for an entrepreneur to make money.

I printed up some flyers advertising my "reliable pool cleaning services at good prices," and began distributing them. Within hours of posting the first ones, my phone was ringing. This led to what eventually became a six-figure business... a nice accomplishment for a college student with no capital.

Later in my entrepreneurial career, I became interested in the ballroom dance industry. While working in a dance studio, I discovered two holes in the market. First, virtually every dance studio in the area aggressively sold "packages" and persuaded clients to learn all the dances. Second, I noticed that it was hard for many busy people to make the time to get into the studio.

So I came up with the idea of "pay as you go" lessons. People didn't have to buy a package, and they could learn only the dance or dances they were interested in. Plus, they didn't have to come to a studio. They could take the lessons at home.

My approach was so novel that several major metropolitan newspapers did feature stories about me. (Free publicity!) And the business took off. I was soon earning $40,000-$50,000 a year with it. And since I was only working that business part-time, I was able to develop other businesses simultaneously.

Applying the F.A.N. Formula to Your Own Ventures

Here's how to start a business with the F.A.N. Formula:

1. Pay careful attention to markets that interest you. Then search out information about customer needs that aren't being served efficiently.

Keep your eyes open. Just look around for things that annoy YOU. Keep your ears open too. You can sometimes hear about a need that's not being met straight from a disgruntled customer. (That's what got me started on my pool cleaning service.) You should also read local newspapers, particularly stories about consumer problems. And articles in national magazines can help you identify trends that could inspire you to come up with a business idea.

2. Once you've pinpointed a need in the market, figure out how you can fill it. What will your product or service offer? How will it benefit the customer?

My dance instruction business had three main selling points:

No contracts to sign or packages to buy

Learn only the dances you're interested in

Convenient, private in-home lessons available

3. Evaluate the feasibility of the business.

Just because you see a need for the product or service you intend to offer doesn't mean you can sell it profitably. Sometimes, the reason nobody is doing it is because there's not enough of a market for it. So crunch the numbers first.

With my pool cleaning business, I figured out that by being a "no frills" operator with little overhead I could undercut the competition by about 20 percent. And I found that I could still make an acceptable profit even if I hired other people to do the work.

Operating your own small business is rewarding in many ways. It offers you job security. (You'll never be afraid of a boss letting you go.) It's a good way to accumulate wealth. And it allows you to spend your days doing something you can enjoy and be proud of. By using the F.A.N. Formula, your odds of success will increase exponentially. Try it.

Ever Wanted To Quadraple Your Productivity?

2008-03-03T22:45:00.000-08:00

"Productivity is never an accident. It is always the result
of a commitment to excellence, intelligent planning,
and focused effort."

- Paul J. Meyer

Using Daily Task Lists to Accomplish Your Goals

By Michael Masterson

I didn't always plan my days. For most of my career, in fact, I didn't.

I had written goals. And I referred to them regularly. My goals kept me pointed in the right direction, but I was always moving back and forth. Often for no good reason.

Driving to work in the morning, I would think about my goals. That helped motivate me and often gave me specific ideas about what tasks I should accomplish that day. I'd walk into work meaning to complete those tasks... but by the end of the day, many of them were not done.

What happened? The same thing that may be happening to you right now. You sit down at your desk, and there is a pile of new mail in your inbox. You pick up the phone, and 15 messages are waiting for you. You open your computer, and find that you've received 50 new e-mails since you last checked. You tell yourself that you will get to your important tasks later. Right now, you have to "clean up" all these little emergencies.

Before you know it, the day is over and you haven't taken a single step toward achieving your important goals. You make an effort to do something, but you are tired. Tomorrow, you tell yourself, you will do better.

Does that sound familiar?

If so, don't feel bad. You are in good company. Most people deal with their work that way. Even people who set goals and achieve them. Over the long term, they get everything done. But on a day-to-day basis, they are constantly frustrated.

You can be successful without planning your days... but you will have to work a lot longer and harder. The reason? When you don't plan your days, you end up working for other people - not just for yourself. You feel that before you get to your own work, you should first deal with their requests.

Starting your day by clearing out your inbox, voicemail inbox, and e-mail inbox is just plain dumb. Most of what is waiting for you every morning has nothing to do with your goals and aspirations. It is work that other people want you to do for them.

If you want to be the captain of your soul and the master of your future, you have to be in charge of your time. And the best way to be in charge of your time is to structure your day around a task list that you, and only you, create.

As I said, simply writing down my goals helped me accomplish a good deal. But my productivity quadrupled when I started managing my schedule with a daily task list. If you use the system I'm going to recommend, I'll bet you see the same improvement.

I have used many standard organizing systems over the years, but was never entirely satisfied with any of them. The system I use now is my own - based on the best of what I found elsewhere.

At the beginning of the year, I lay out my goals for the next 12 months. I ask myself "What do I need to achieve in January, February, etc. to keep myself on track?" Then, at the beginning of each month, I lay out my weekly objectives. Finally, every day, I create a very specific daily task list.

Here's how I do it...

My Personal Daily Task List

I begin each day the day before.

What I mean by that is that I create my daily task list at the end of the prior day. I create Tuesday's task list at the end of Monday's workday. I create Wednesday's at the end of Tuesday's workday.

I begin by reviewing the current day's list. I note which tasks I've done and which I have failed to do. My new list - the next day's task list - begins with those uncompleted tasks. I then look at my weekly objectives to see if there are any other tasks that I want to add. Then I look through my inbox and decide what to do with what's there. I may schedule some of those items for the following day. Most of them, I schedule for later or trash or redirect to someone else.

I do all this in pen on a 6" x 9" pad of lined paper. I divide the paper vertically to create columns for the tasks, for the time I estimate it will take to do each one, and for the actual time it takes me to complete it. I also create a column for tasks I will delegate to my assistant.

On most days, I end up with about 20 15-minute to one-hour tasks.

Here is a typical daily list. (Click to enlarge.)

Michael Masterson's To-do-list

I like doing this by hand, in pen and ink. You may prefer to do it on your computer. The point is to enjoy the process.

Because longer tasks tend to be fatiguing, I seldom schedule anything that will take more than an hour. If you have a task that will take several hours, break it up into pieces and do it over a few days. It will be easier to accomplish. Plus, you will probably do a better job because you'll be doing it with more energy and with time to review and revise your work as you go.

A typical day for me includes two or three one-hour tasks, three or four half-hour tasks, and a dozen or so 15-minute tasks. The kind of work you do may be different, but I like that balance. It gives me flexibility. I can match my energy level throughout the day to my task list.

Ideally, you should get all of your important tasks and most of your less important tasks done almost every day. You want to accomplish a lot so you can achieve your long-term goals as quickly as possible. But you also want to feel good about yourself at the end of the day.

You may find, as I did, that when you begin using this system you will be overzealous - scheduling more tasks than you can possibly handle. So set realistic time estimates when you write down your tasks. And double-check them at the end of the day by filling in the actual time you spent on each one.

When you complete a task, scratch it off your list. One task done! On to the next one! I've been doing this for years, and I still get a little burst of pleasure every time.

Creating each daily task list should take you less than 15 minutes. The secret is to work from your weekly objectives - which are based on your monthly and yearly goals.

This system may not work for you, but I urge you to give it a try. I think you'll like it.

Before your colleagues, competitors, and coworkers are even sipping their first cup of coffee, you'll have figured out everything you need to do that day to make you healthier, wealthier, and wiser. You will know what to do, you will know what your priorities are, and you will already be thinking about some of them. You will not have to worry about forgetting something important. And you will have a strong sense of energy and excitement, confident that your day is going to be a productive one

Finding Customers On The Web

2008-03-03T22:34:00.000-08:00

"We can believe that we know where the world should go. But unless we're in touch with our customers, our model of the world can diverge from reality. There's no substitute for innovation, of course, but innovation is no substitute for being in touch, either."

- Steve Ballmer

By Wendy Montes de Oca

You've probably heard about Web 2.0. It's all the rage these days. But do you really know what it is? More important, do you know how to use it to your advantage?

Today, I'm going to reveal one Web 2.0 technique you can use to help attract targeted, qualified prospective customers to your website. But first, here's the 411.

Web 2.0 isn't a newfangled Internet technology or software. And it's not a marketing tactic, per se. It's simply the evolution of the Internet into an environment of interactivity, reader participation, and usability. This, in effect, changes users' Web behavior. As Tim O'Reilly - founder of O'Reilly Media and the guy who coined the term "Web 2.0" - puts it... it's "harnessing collective intelligence" through user-generated content.

Web 2.0 opens up the dialog between user and website or blog. This connection can help generate traffic and a viral buzz. Patrick Coffey pointed out in a recent ETR article that not all Web 2.0 traffic is a good thing. But from a search engine marketing (SEM) standpoint, the benefits are clear and measurable: More traffic and frequent interactivity (or posts) equal better organic (free) rankings in search engine results.

Getting good organic rankings is a powerful way to find qualified prospective customers. A recent eye-tracking survey of people doing an Internet search showed that 70 percent of the time their eyes go to the upper-left side of the search results (the organic listings). Their eyes go to the right side of the search results (the paid listings) only 30 percent of the time.

One way to increase your organic rankings - and take advantage of Web 2.0 user behavior - is with targeted online acquisition polls.

Online polls can help you collect names and e-mail addresses, gauge general market (or subscriber) sentiment, and generate sales via a redirect to a promotional page. They also allow for interactivity, where a user can sound off about a hot topic. I've been including polls in my online marketing strategy for at least six years now, and have rarely been disappointed with the results.

Some websites, like surveymonkey.com, allow members to set up free or low-cost surveys and polls. However, they may not allow you to include a name-collection component or a redirect to a promotional offer. If that's the case, either ask your Webmaster to build you a proprietary poll platform or use a poll script. (You'll find examples at hotscripts.com, bgpoll.com/, ballot-box.net/faq.php, micropoll.com, and 2enetworx.com.)

Here are eight ways to help make your Web 2.0 poll a success:

1. Make it engaging.

Your poll question should engage the reader, encourage participation, pique interest, and tie into a current event. And be sure to have a "comments" field where people can make additional remarks. Sample topics: politics, the economy, health, consumer breakthroughs, the stock market, foreign affairs. Sites that highlight the most talked-about (and searched) topics on the Web include buzz.yahoo.com/, 50.lycos.com/, and google.com/press/zeitgeist.html.

2. Be relevant.

Your poll question should also be related to your product, free e-zine topic, or free bonus report topic. This will greatly improve your conversion rate (the number of people who actually participate in your poll) and your up-sell rate. Let's say your free offer is a sign-up for an investment e-zine and your up-sell is a redirect landing page promotion for a paid investment newsletter. In that case, your poll question should be something like "Do you think the Dow will rise or fall in 2008?"

3. Offer an incentive.

After people take your poll, tell them that to thank them for their participation you're automatically signing them up for your free e-zine or e-alerts... which they can opt out of at any time. To reduce the number of bogus e-mail addresses you get, offer a free "must-read" e-report too. And assuming it's your policy not to sell or rent e-mail names to third parties (and it should be), indicate that next to the sign-up button. This will reassure people that it's safe to give you their e-mail address.

4. Tag the responses.

Having your poll question somehow tie into your product line makes the names you collect extremely qualified for future offers. Each name should be "tagged" by your database folks according to the answer they gave. Segmenting the names into such categories will make it easier for you to send targeted offers to them later.

Let's say your product line includes an investment e-zine on equities. In that case, your poll question might ask people which investment product they think has the best returns: money market, gold, equities, or options. Those who answer "equities" will be prime candidates for a promotion for the e-zine.

5. Use the results for new initiatives.

In addition to collecting names, online polls will help you gauge general market opinion - and could help you come up with new products. Keeping with our above example, you would flag all of the responses that come in. Then, if an overwhelming number of responders indicate an interest in an investment product you don't have - maybe one on gold - you should consider developing one. Because you now have an instant market of people to sell that product to.

6. Strengthen your new relationships.

You need to reinforce the connection between the poll people just participated in and your e-zine or e-alerts. So make sure each name that comes in gets an immediate "thank you" (for taking the poll). Then send an automatically generated e-mail with the link for the downloadable free e-report you promised. Consider sending a series of "bonding" e-mails to them too - to help them get to know who you are, what you do, and how it will benefit them. This will help improve their lifetime customer value.

7. Gratify participants with the results.

Don't just leave poll participants hanging. Make sure you tell them that the results will be published in your free e-zine or on your website (to encourage them to check it regularly). This will help increase readership and website traffic.

8. Publish the best reader comments.

On your poll landing page, mention that some user feedback may be published (anonymously) in your e-zine or on your website. Pick the very best, most powerful responses to use. Republishing user feedback is fundamental to the Web 2.0 concept. And it has been extremely successful for social networking communities and blogs.

Marketers have used polls to collect names for years. However, with the recent surge in (and buzz about) Web 2.0, now - more than ever - polls should be included in your online marketing mix.

Polls aren't just for finding new customers. They allow you to measure customer sentiment - which, in turn, can impact customer retention and service

Turning Your Abstract Ideas Into Personal Power.

2008-03-03T22:25:00.000-08:00

"Everything in nature contains all the power of nature. Everything is made of one hidden stuff."

- Ralph Waldo Emerson

Autism-spectrum disorders are a result of damage to certain cells in the right hemisphere of the brain. Among other things, such damage can cause difficulties in the processing of abstract thoughts and ideas. Which, in turn, can make life very frustrating for the afflicted individual.

Abstractions play such a major role in day-to-day life that this got me thinking about just how important they are for all of us when it comes to functioning in our modern world.

An abstraction is theoretical in nature - i.e., it is not a tangible reality. It has no form or substance. Examples of abstractions include such concepts as time, infinity, negative numbers, zero, gravity, motivation, resourcefulness, love, justice, fairness, dreams, intuition, common sense, conceptualization, and axioms.

Among the most interesting abstractions are axioms, because even though we rely heavily on them, an axiom cannot be proven. That's right. An axiom is an unprovable, though self-evident, truth.

Negative numbers are also fascinating. A negative number is nothing more than a theoretical supposition - a presumption that it exists, but not in concrete form. (How can you have minus six oranges?)

One of the most difficult abstract notions to grasp is infinity. The way we throw the word around, you'd think we have a clear understanding of what it is. But can we really comprehend what infinity means? We know that space, time, and numbering are infinite... yet, at the same time, they are incomprehensible.

Entire phrases can also be abstract, which presidential hopefuls demonstrate when they use such nonsensical terms as "in the best interest of society," "social consciousness," and "the will of the people." What in the world do these things mean? They are concepts that can be defined only subjectively.

What I'm driving at here is that we live in an abstract world, a world filled with abstract thought, existence, and causality. A world where time, being, and substance are not provable. Yet, through firsthand experience, we can be pretty certain that all of the phenomena mentioned in this article exist.

Which brings me to the phenomenon of the power that flows from thought.

If, through our thoughts, we possess the power to influence the course of our lives, there are two questions that should be of utmost importance to us: (1) How much potential power do we have for altering events through our thoughts? (2) How can we best tap into this reservoir of power?

If we do not have the power to manifest our destiny, we are the victims of a bad cosmic joke. It would mean that our awareness is a Catch-22. We would be conscious, yes, but conscious of the fact that we are on autopilot and have no say-so in the way our lives play out. It would be the ultimate nightmare - being conscious of our impotence.

But to me - and, I hope, to you - it is obvious that we do have the power to manifest our destiny. Which brings us to the concept of the "metaphysical world." Technically speaking, all abstractions (time, negative numbers, love, fairness, axioms, etc.) are part of the metaphysical world in that they do not have form or substance.

But when people use the term metaphysical world, they generally are referring to more weighty phenomena, such as the soul, afterlife, and - the ultimate abstraction - God. The problem many have with abstractions such as these is that - unlike time and infinity and negative numbers - we have no firsthand experience to support the belief that they really exist.

Which is why, from a secular viewpoint, none of these things make any sense. But after you've lived on this earth for a while, experience teaches you that there are "reasons beyond reason" for things that have no secular explanation.

The Dalai Lama sums it up well in The Universe in a Single Atom when he says, "There is a fundamental difference between that which is 'not found' and that which is 'found not to exist.' If I look for something and fail to find it, this does not mean that the thing I am seeking does not exist. Not seeing a thing is not the same as seeing its non-existence."

In other words, there's a lot more to reality than the material world we are able to see. Clearly, we ignore intangible realities at our peril. We cannot see gravity, but firsthand experience teaches us not to attempt to defy it.

Results of the Hubble Telescope project have scientifically underscored the Dalai Lama's position. Hubble scientists long ago discovered that not only is all matter moving away from all other matter at unfathomable speeds, but that those speeds are accelerating.

This indisputable evidence forced them to conclude that there is an invisible power in the universe - which scientists refer to as "Dark Energy" - that is greater than the gravitational pull of all matter in the universe combined.

It therefore stands to reason that if you are able to tap into this infinite power source - whether you refer to it as Dark Energy or positive thinking or God or something else - your own power is theoretically unlimited. And if your power is unlimited, it logically follows that you should be able to have a great deal of control over your destiny.

So, how do you tap into this infinite power source? I believe you have to make a conscious effort to concentrate on connecting. This is not a learn-it-once-and-you've-got-it-for-life proposition. It's a lifetime project... but one that becomes easier with age. (Which is more than you can say about most things.)

In other words, you become the product of your most dominant thoughts. Which is why I believe that the more you think about your connection to an infinite power source, the more power you will have to control your own destiny.

Think about it...

The Great Two Words

2008-03-03T22:18:00.000-08:00

"Silent gratitude isn't much use to anyone."

- G.B. Stern

I'm going to share with you a business-building technique that is extremely powerful, yet almost totally overlooked (or used improperly).

It's simply... saying "thank you" to your customers.

You might be thinking, "Saying thank you to our customers for their business is not any big secret. What are you trying to pull here?"

Just hold onto your horses, and I think you'll see how wonderful this can be.

You might be sending out some kind of a thank-you note to your customers - maybe with a special "gift" offer attached to it. But unless you have a strategic use for the sales those notes generate, it's usually not worth it to send them out. Remember, you want to elicit direct actions from your customers. The stuff that results in dollars being directly deposited into your account.

That said, let me show you what I'm talking about.

A few years ago, I completed a series of teleseminars. The people who listened to this "Web Copy Secrets Mastery" series live" each paid $397 to be on the calls. I thought that would make them good prospects for some of our other higher-end Internet marketing training programs.

Now, as you know from reading ETR, a customer is a better prospect for another similar product right after they make a purchase than if you wait weeks or months to contact them. Which means that the sooner you contact a customer to thank them (and offer them something else), the better.

So when the Web Copy Secrets sessions were over, I sent the 65 people who had initially signed up a simple postcard. When I say simple, I mean it. I did it with a service called "Amazing Mail" (amazingmail.com) that sends out color postcards for you. It costs about a buck each. (Of course, that's higher than what it would cost to have postcards printed up locally and mail them yourself. But with this service, you can do it with just the click of a mouse. And you can do only one postcard, if that's all you want.)

It was very cool. It took me about 10 minutes to get the 65 postcards out. I just picked one of their pre-done designs - one with a colorful ocean scene that said "Thanks" across the top. And then, on the back, I wrote this:

"Thanks so much for being part of the recently completed 'Web Copy Secrets Mastery' course. I really hope you got a lot out of it. In fact, I learned a lot just by moderating and interviewing all of our wonderful guests! :)

"Now, as a special thank you, I want to give you a discount on a terrific new product we've recently released, called 'Yanik Silver's Internet Marketing Secrets Exposed.' It's a 3-volume video set from my presentation at the sold-out, $4,995/per person 'Internet Marketing Lab' in Washington, DC.

"Here's the special link for your $50 savings: XXXXXXXXXX

"Best, Yanik"

Could it be any easier?

I don't think so. It cost me $65 to send out my 65 thank-you postcards. And I wound up making three sales for $750. Figuring in my cost to fulfill the product (the video set), I made about $625. That's more than a 1,000 percent return on my money. Not bad for something that took me 10 minutes.

Ready to try your own thank-you postcard to make more sales? Here's a little template any business can use...

"Thanks so much for {your recent purchase of _____, taking part in _____, having your gutters cleaned, etc.}. I really hope you _____. {Say something about the benefit your product/service provides.}

"Now, as a special thank you, I want to give you a discount on a terrific new product/service we've recently released, _____. {Give the name of the product/service, and add just a sentence or two about it.}

"Here's how you can get your $XX savings: {Give instructions on how the customer can get the deal - by going to a website address, calling a specific number, etc. What action do they need to take?}"

Thank-you notes like this work well for several fundamental reasons.

First, they make your customers feel appreciated. By thanking them, you're showing that you really do care about their business.

Second, thank-you notes that include a discount or other deal trigger a feeling of obligation in your customer. By giving them something (that's for real), they want to reciprocate by buying something.

Finally, they work because of a solid direct-marketing principle: "A buyer is a buyer is a buyer."

Here are the five easy steps you can take to use thank-you notes to build your business:

1. Right now, gather up the names of your best customers - those who just bought something from you. They are excellent prospects for another one of your products/services.

2. Create a simple spreadsheet file with their names and addresses.

3. Come up with a preferential deal you can offer them.

4. Go to amazingmail.com and sign up for an account.

5. Send these customers a simple postcard using the template above.

Are You Satisfied With Your Life?

2008-03-03T22:08:00.000-08:00

Several years ago, management consultant Dr. Gerald Kushel studied a representative sample of America's top executives. He found that only a small group - just 4% - rated themselves "very satisfied" with both their personal and professional lives.

I doubt many people were surprised to find that genuine contentment is a rare commodity in corporate boardrooms. We've all known hard-driving businessmen who ended up frustrated and burned-out, even if they met their professional and monetary goals. And, of course, the executive who sacrifices his personal life to meet his business objectives is almost a proverb.

Yet this 4% maintained a remarkable sense of balance in their lives. Kushel found that "in addition to success in the marketplace, they manage to have extremely pleasing private lives, enduring and satisfying relationships with friends and family, and enjoy many quiet pleasures alone."

Yes, these executives had an uncanny knack for managing skillfully, delegating effectively and reaching important business goals. But a couple of important characteristics separated the 4% - the ones who were "very satisfied" with both their personal and professional lives - from the burned-out majority.

For starters, Kushel found that the 4% met none of these stereotypes:

They take their work, the company and their career very seriously.
They ruin their family lives with their preoccupation with work.
They operate under great stress.
They are weighed down with multiple problems.
They are real infighters.
They have a strong need to control others, including both their peers and their subordinates.
They stick to their guns when they're right.

It turns out that these qualities - which together represent almost a caricature of the harried business executive - were almost completely absent among those who were happiest with their lives, both at home and at work.

Instead of seeing themselves as driven executives whose careers define their lives, Kushel discovered that the 4% have a sense of identity that goes far beyond their job description or even their family's definition of who they are.

Instead, they define themselves on their own terms. They see themselves as more than any one role at home or at the office. In fact, their identities are generally drawn more from their values, their principles, their interests or their philosophy of life.

Of course, we've all known artists, academics, 9-to-5'ers, and assorted slackers with this point of view. But top executives?

Absolutely. One CEO of a national manufacturing company pled with Kushel, "Please don't let anyone know. If the people back at my company found out how lightly I take my job, they'd feel very much let down. They enjoy thinking of me as a workaholic. So sometimes when things go wrong, I feign worry and upset. They love it. Sometimes I act angry just to get my people moving. Acting angry can be productive, but really being angry usually makes very little sense. Deep down, I never forget that there are many, many more important things in this world than making profits."

Kushel found this heightened sense of self makes it easier for these men and women to achieve their objectives, and accept occasional setbacks - even serious ones - with relative equanimity.

The 4% also had an overwhelming tendency to take responsibility for the circumstances in their lives. They virtually never saw their problems as the result of their spouses, their colleagues, their children, bad luck, or "the breaks." Instead, they consistently went out of their way to place the responsibility for unhappy outcomes on their own shoulders.

Of course, acknowledging that we are largely responsible for the circumstances in our lives creates the power to change them.

Yet Kushel's survey reveals that those who want nothing more than money, power and prestige are often frustrated by their inability to achieve it. Why? Because they want it so badly, he discovered, that they cramp their style, turn potential allies off, and inadvertently undo their own efforts. Those who put money and status in perspective, on the other hand, often achieved material success with relative ease.

I think the 4% are onto something here...

Conventional wisdom says that to get everything you want, it's often a matter of trying harder and "wanting it more." Kushel found just the opposite: Success at home and at work is more likely the result of putting yourself and your objectives in perspective... and, ironically, wanting it less.

Carpe Diem