So Many Opportunities…
Issue #2093
- WEALTHY: Take your eyes off the dollar (Andrew Gordon)
- HEALTHY: Why you shouldn’t add milk to your Earl Grey (Jon Herring)
- WISE: Willy Wonka on making use of time
ALSO IN THIS ISSUE:
- If I were starting out again, where would I put my money? (Michael Masterson)
- Feedback Friday: What ETR readers think of "Jeans for Jesus"
- It’s Good to Know… about bedbugs
- Add "modicum" to your vocabulary
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Dollar Matters
A cheaper dollar favors big companies that export their products, right? After all, if the U.S. greenback loses 10 percent against foreign currencies, that’s 10 percent more dollars that overseas earnings can buy.
But it’s just not that simple anymore.
Big companies not only export more than smaller ones, they also have more operations overseas. And a dollar that keeps falling forces them to shell out more money to pay for the costs of keeping those overseas operations up and running.
It’s no longer clear that a weak dollar improves the case for S&P 500 companies just because they derive about 30 percent of their sales from overseas (compared with 15 percent for smaller companies in the Russell 2000). And given that you still have to figure out if the dollar will be getting cheaper or more expensive before you tweak your portfolio - a challenge for even seasoned dollar watchers - your time is better spent on evaluating your stocks and other investments on their own merit … not on what the dollar is doing.
[Ed. Note: Andrew Gordon, ETR’s Investment Director, has authored several books on energy markets, global countertrade practices, and the hot growth sectors of China and Russia. A former professor of marketing and finance, he is the editor of INCOME, a monthly financial advisory service that uncovers income-generating stocks that promise safety (first and foremost), along with much-higher-than-average profit potential.]
"So much time, and so little to do! Strike that, reverse it."
Willy Wonka
So Many Opportunities… What’s an Opportunist to Do?
A reader, SR of Tucson, AZ, writes to ask about business opportunities. He and his sister have owned two franchise businesses (from which they "profited slightly") and two investment homes, only one of which gave them a very modest ($3,000) return. "Needless to say," he says, "we are not afraid to ‘pull the trigger.’"
He makes his living as a part-time pharma rep, and his sister "has left interior design to pursue working with a multi-level-marketing company." He is now looking at the Early to Rise and Investor’s Daily Edge websites, and is excited by the money-making opportunities offered on both.
What should he do? "If you were starting out today," SR asks me, "where would you put your money?"
I like getting letters like these. It tells me that there is still a big market for my book Automatic Wealth: The Six Steps to Financial Independence. SR obviously hasn’t read it. If he had, he would know exactly what I’d do in his situation.
I don’t believe in pulling the trigger prematurely, and that is what I think SR and his sister have been doing. His description of his actions and his thinking fits the pattern of the serial "wannabe" entrepreneur.
And I’m concerned about his sister’s recent leap into a multi-level-marketing (MLM) program. I don’t particularly like these programs, because I have found that they rely too heavily on turning friends and colleagues into customers. They encourage you to "start" with the people you know. What generally happens is that you run out of steam just after you have exhausted all your personal relationships. The MLM company has made some money from you, but you have only soured your friendships.
I don’t think you should leave your job and jump into any business opportunity unless you are ready. Being ready means having the money and the knowledge to be successful in the industry you have chosen to enter. Getting that money and that knowledge requires years of working hard - in that industry - and earning a good income. Nights and weekends you can - and should - invest in further education in that field.
All of the information products that you see on our websites can be useful. But what you don’t want to do is jump from one of those moneymaking opportunities to the next, always on the verge of hitting it big but never quite getting there.
My advice to anyone who, like SR and his sister, has fallen into the serial-wannabe-entrepreneur pattern is to follow my "chicken-entrepreneurship" approach to getting rich:
- First, get a full-time job within the industry you have chosen for your career. If you want to make money in the real estate business, get a job at a brokerage. If you want to make money as an Internet entrepreneur, get a job with a company that is primarily an Internet marketer.
Get the best job you can, but be satisfied if you have to work your way up from the bottom.
- While you’re working at your full-time job, invest in a self-help program that will give you the skills to develop a side business in your chosen industry that you can eventually grow into a full-time moneymaker. (If you want to understand exactly how to start and build your own business, buy my next book - Ready Fire Aim - when it comes out.)
Take only one self-help program at a time. Don’t distract yourself by taking two or three. Review several before you buy one, and buy only from companies that have a good reputation and offer a total refund. If you don’t like the program, return it and try something else. If you do like the program, work hard on it and finish it.
- Put most of your extra money in the bank and let it earn CD-type interest until you have found a safe investment that can give you a better return. I like real estate, because it is usually safe. But don’t invest in any real estate until you have taken and completed Justin Ford’s Main Street Millionaire program. (The best in the business, as far as I’m concerned.)
- Don’t get involved in the financial markets until you have lots of extra money to play with. (If you follow my chicken-entrepreneurship plan, you will have enough money - but it will take a while, maybe four to seven years, for that to happen.)
- Be smart. Be patient. Don’t "pull the trigger" and jump into any moneymaking opportunity until you are ready.
The One Event That Moves Every Stock in the Market
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Don’t Miss Out on the Full Benefits of Tea
By Jon Herring
Dr. Sears and I have written numerous times in ETR about the outstanding health benefits of green and black tea. These teas have been shown to boost brain health, increase metabolism, protect the prostate, and reduce the risk of cancer and heart disease.
But the extent to which tea helps can depend on how you drink it. If you add milk, you could be negating many of its health benefits.
In a study published in the European Heart Journal, subjects were given either a pint of black tea or the same amount of hot water. Of those who were given tea, half drank it straight, while the other half had it with milk. The researchers discovered that blood flow to the forearms increased noticeably in those who drank the tea straight, but those who had either hot water or tea with milk saw no such benefit.
It is known that the flavonoids in tea (catechins) help to relax the blood vessels. And it appears that these catechins, including the highly beneficial antioxidant EGCG, are bound and rendered ineffective by casein, a protein found in milk.
So if you want the full range of health benefits that tea has to offer, drink it straight or with a squeeze of lemon and a dash of stevia.
Feedback Friday: Jeans for Jesus
Would you buy Christian-themed jeans? We got a huge response to the recent article Michael Masterson wrote about the idea of starting a business based on such a product.
Let us know your thoughts on selling things like Christian-themed jeans at ReaderFeedback@gmail.com. Meanwhile, here’s what a few of your fellow ETR readers had to say…
"In response to the article regarding Christian jeans, I think Jesus didn’t think that your wardrobe was that important. But Jesus was not against free-market enterprise, and gave the message that all should prosper.
"Christians have had enough undermining in the United States during the past couple of years. A little advertising for something good is a good thing. The jeans would reach a niche market. I would think that T-shirts typically are better at getting a message across than jeans. What would probably work on T-shirts are statements like ‘Giving is a big part of receiving’ and ‘Loving others gives a sweet return.’
"Thanks for your great newsletter."
- J. Tealsun
Willoughby, OH
"There are Christians by title and then there are true Christians. Any person who claims to be a Christian but repetitively exhibits behavior as described by you in this article is not Christian.
"My perception of the tone of the article is that there is a little bit of Christian-bashing going on. But everything that you said regarding the business side of things was top-notch, correct, and clear to understand. It always is. That is your expertise. Perhaps the spiritual ‘insights’ or ‘opinions’ given in the article would have been better left out.
"You said: ‘These kinds of Christians aren’t interested in Jesus Christ or what he actually said and did.
"This is a strong statement, and implies that one knows the thoughts and intents of another’s heart, which is difficult at best. Some people don’t even know their own heart, let alone others’.
"You also said: ‘They are much more interested in the very bizarre, fundamentalist culture that has grown up around him.’
"I assume that is an assessment of Modern Christianity. True Christianity has to be biblically fundamental to be true. That means Bible-based only without admixture. Anything bizarre in relation to Christianity has ‘grown up’ (like weeds) due to a lack of adherence to the fundamentals. ‘Greedy’ and ‘money-grubbing’ are not fundamental Christian concepts. They break the 1st, 2nd, 8th, & 10th commandments. Please don’t lump all of today’s Christians into this category. It is an unfair assessment.
"Including one’s faith into one’s culture is necessary to reinforce, retain, and promote that faith. Our art, music, clothing, books, entertainment, etc. should reflect this. Look at most religions; you will see that this is done.
"If someone were to open up a line of jeans with some non-religious logo or marketing concept behind it, would they have been considered money-grubbing… or praised as entrepreneurial?
"If asked face to face, Jesus would have no problem with the jeans. He would have a problem with the breaking of the 1st, 2nd, 8th, & 10th commandments, though. Honest work does not violate these. There are plenty of companies that sell religious garments, accessories, etc…. be they ceremonial or recreational. It fills a need in the market.
"Thank you for your informative cyber-newsletter. I look forward to it and read it daily. Whatever information I have implemented has always proved to be helpful and profitable."
- Andy Rizzotti
Providence, RI
"One of the things that I personally learned about business is the value-giving or benefit provision. I come from a service-related industry, but I think it also applies to products.
"How would [Christian-themed] jeans add value to the person buying them? Laying the jeans side by side with the competition, how will consumers perceive this product? Would it make them feel better than Levis or, for that matter, the jeans at Costco that were also manufactured in China?
"I think once [your friend] started the business plan and running the numbers, he would probably end up overwhelmed at the figures. I don’t know if he’s got lots of capital, but the numbers are not baby numbers. (I know, because my friend works with the numbers in a company that produces $150 jeans.)
"Bottom line for me is not about Christian products, it is about your way of doing business as a Christian as taught by Christ."
- George Manlangit
[Ed. Note: Want to see your name in print? Let us know how ETR or one of Michael Masterson’s books has changed your life at ReaderFeedback@gmail.com. We may run your comments in an upcoming issue of Early to Rise or post them on the brand-new Michael Masterson website!]
It’s Good to Know: Don’t Let the Bedbugs Bite
After being nearly eliminated in the 1940s and 50s by intense pest-control measures, bedbugs are reappearing in increasing numbers in American hotels, homes, hospitals, and college dormitories. Scientists and pest-control professionals aren’t sure what caused the comeback, but point to increased international travel and decreased use of insecticide as possibilities.
Bedbugs feed on the blood of humans and animals, their bites causing itchy welts and swelling. To get rid of them, experts recommend a thorough cleaning of bedding, mattresses, and any cracks and crevices in the problem room. If that doesn’t work, call an exterminator.
(Source: LiveScience)
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Word to the Wise: Modicum
A "modicum" (MOD-ih-kum) - from the Latin for "measure" - is a small, moderate, or token amount.
Example (as used by Douglas L. Wilson in Honor’s Voice): "Abraham Lincoln’s childhood education, conducted almost entirely by himself, with only a modicum of schooling, is one of the most familiar stories in American history."
[Ed. Note: Become a more persuasive writer and speaker … build your self-confidence and intellect … increase your attractiveness to others … just by spending 10 VERY enjoyable minutes a day with ETR’s new Words to the Wise CD Library.]
Michael Masterson
Copyright ETR, LLC, 2007