Issue #2194
- WEALTHY: A holiday gift that promises to keep on giving (Rick Pendergraft)
- HEALTHY: Lighten your liver’s load with one veggie (Kelley Herring)
- WISE: Wayne Huizenga on business relationships
ALSO IN THIS ISSUE:
- The "Just-You-and-Me Talking" principle of making deals (MaryEllen Tribby)
- When the Internet gets a little too close for comfort… (Suzanne Richardson)
- It’s Fun to Know… about the redevelopment of Biosphere 2
- Add "laconic" to your vocabulary
Announcing Your Complimentary Invitation to ETR’s 2008 Bootcamp
ETR’s Info-Marketing Bootcamp has without question become the premiere event in the industry. Now, you can attend this bootcamp, held in beautiful Delray Beach, Florida without paying the fee!
Come join us in 2008 and you’ll be brought up to date on all the latest and most powerful business-building secrets that are working in the marketplace that minute. It’s also an extraordinary chance to network with dozens of industry leaders, not to mention hundreds of your fellow high-achieving Early to Risers.
Lists of previous years’ speakers read like a who’s who of business-building and Internet marketing geniuses, including Jay Abraham, Joe Vitale, Robert Ringer, Brian Tracy, Jeff Paul, Michael Masterson, Bob Bly, Rich Schefren, Jeff Walker, Alex Mandossian and many, many more.
Martha Celestino of Santa Ana, CA said about our 2007 Bootcamp, “This event was fabulous. This is my second ETR event, and I’m always just blown away by the ideas and the concepts. The people presenting are leaders in their fields.”
Now, when you become a Charter Member of ETR’s new Internet Money Club, you’ll receive complimentary admission to next year’s Early to Rise 2008 Info-Marketing Bootcamp.
This event WILL sell out next fall. But as an Internet Money Club member, you’re automatically guaranteed a complimentary, locked-in seat for next year’s event.
And that’s just the beginning of your benefits as a Charter Member of the Internet Money Club… read on to see everything else you get.
The Hottest Stocking Stuffer This Holiday Season?
Even though Halloween just ended, many retail stores are already packed with Christmas and Hanukah decorations. The best way to prepare for the holidays now? By picking up a hot stock.
Microsoft recently released Halo 3, the most anticipated video game ever. In the first 24 hours after being released, it generated over $170 million in sales in the U.S. alone. And Microsoft gets to keep it all. Developers usually sell their games to console manufacturers and split the revenues. Not so with Halo 3. Microsoft owns the game development company, Bungee Studios, and the game is available only for Microsoft’s Xbox.
If you think video games are just for kids, think again. Statistics show that 60 percent of heads of households play computer or video games, 25 percent are over the age of 50, and 38 percent are female. Clearly, the numbers indicate a diverse and growing industry poised for continued growth.
Since the holiday season is traditionally the highest sales period for video games and game consoles, Microsoft could see a big bump around Christmastime. In fact, on October 25, the company reported third-quarter earnings that exceeded expectations and guided its earnings forecast higher. The stock jumped sharply the next day, but there is room for it to move still higher. So pick up shares of Microsoft before the holiday rush.
[Ed. Note: Rick Pendergraft, a two-time winner of the "Top Trader" award at Schaeffer's Investment Research, is a contributor to ETR's free investment e-zine Investor's Daily Edge. Learn how to protect your portfolio and multiply your money - in any market - by clicking here.]
"I don’t want to be just a voice on the phone. I have to get to know these guys face-to-face and develop a sincere relationship. That way, if we run into problems in a deal, it doesn’t get adversarial. We trust each other and have the confidence we can work things out."
Wayne Huizenga
Deal Making for Dummies
My son Connor turned seven years old a week ago Sunday. His birthday extravaganza started Friday at his school with a class party. Saturday, the festivities continued with 15 little boys at our local arcade. When he got home Saturday evening, he was surprised with an Xbox 360 from my husband and me. On Sunday, I took Connor down to the beach to experience his first sunrise, which was more of a present (and memory) for me. Later that day, we ended his birthday weekend with a family and friend gathering at our home.
As I tucked Connor in Sunday night, I asked him what his favorite part of his birthday celebration was. Expecting to hear rave reviews about the Xbox, I was astonished when he replied, "Going to the beach with you, Mom." As I held back my tears, I asked him why. His answer was simple and honest: "Because it was just you and me talking."
This got me thinking about all the partnerships and deal making I have done over the past 22 years. The best deals were not made sitting in a boardroom around a huge mahogany table with 10 or 12 people. They were done one-on-one over lunch or dinner with simple and honest communication leading to mutually beneficial agreements.
Early in my career, for example, I worked for a well-known publisher in NYC, and we wanted to partner with another well-known publisher in Boston. We had a great idea for a new product that would benefit both sets of customers. We organized a special task force comprised of marketers, editors, and customer service people. The other publisher did the same. We had in-person meetings that required flying eight people 300 miles to the other publisher’s office. This was followed up by endless conference calls with 12 to 16 people on the phone.
The entire time this was going on, my gut was telling me that this was not the way to do it. But everyone else was convinced that we needed the "collective brilliance" of the team. You do need input from smart people when you’re working on the product… but these meetings were just on contract negotiation. This was just to get the deal done!
You probably won’t be surprised to hear that we never agreed upon the terms (someone would always chime in with a last-minute concern), and hundreds of thousands of customers missed out on what would have been a great product. Plus, both my company and the other publisher lost the potential for millions of dollars in revenue.
Since that time, I try to do all my deals on a one-to-one basis.
My deal making success rate is high because I follow three simple guidelines. These apply to everything from making joint venture deals to developing new departments within the company to hiring copywriters. They even apply to vendor and service relationships, such as e-mail deployment, printing and media buying, and hiring freelancers. Here they are:
Rule #1. Know the person behind the business.
To the best of my ability, I try to meet, in person, everyone I do business with. This is the best way to gauge their business ethics and integrity. I will fly cross-country for lunch, or meet them at an industry event and have a drink. I’m not saying you have to like everyone you do business with, but personal contact helps expedite the deal and solidify the end result.
Earlier this year, I wanted to find a partner who could help our customers understand the importance of product launches. I mentioned this to my friend and business colleague Rich Schefren. Well, it just so happened he was flying to Denver in two days to speak at a conference being put on by Jeff Walker, the foremost expert in product launches. I ended up on the plane with Rich, met Jeff, and three weeks later Jeff was speaking at ETR’s sold-out "Five Days in July" Internet marketing conference.
But this is not an anomaly for me.
My friend and colleague David Cross introduced me via e-mail to Tim Ferriss, the author of The 4-Hour Work Week, and I phoned Tim immediately. After discovering that we were both going to be in New York the following week, we made a breakfast date. Two weeks later, Tim’s articles – including one that you may remember about creating a "paperless life" – started appearing in ETR.
These deals happened fast because not only did I get credible references from Rich and David, two people I respect and trust, I also took the time to meet Jeff Walker and Tim Ferriss in person.
Even if you can’t meet everyone in person, make sure you have reliable references. Always do your due diligence. Make it your goal to understand not just the company you want to partner with but the person behind the company.
Rule #2. Only make deals that will benefit your customers.
You may be passing up millions of dollars initially, but if a deal is not in the best interests of your customers, it will cost you more in the long run in dollars, time, and reputation.
Just this past summer, a "friend" in the industry came to us with a product he had developed. He showed us sales reports from his launch. He showed us his brilliantly written marketing copy. Our first impression was: "Our customers need this. They will love it. And it will be a nice contribution to our bottom line."
Patrick Coffey, Charlie Byrne, and I told him, "Great. Just send us a sample of the product so we can evaluate it. If it is as good as you say it is, we are sure we can promote it to our customers."
Well, our "friend" was a bit taken aback. He did not understand why we wanted to see the product when he had already shared his sales report.
We tried to explain that this is our policy – that we had to believe in the product.
He said if we would not just take his word for it, he would take it to our competitor. Well, he did. And we heard through the grapevine that it was a tremendous hit. Customers were buying it up, both parties were making tons of money – and I secretly questioned my decision.
But just recently, the word in the industry is that the product did not live up to the marketing hype. Refunds were coming in like gangbusters, and our "friend’s" new partner does not want to work with him anymore.
Had our competitor lived by the same rule that prompted us to say no to this particular deal, he would not have wasted his resources and lost the respect of his customers.
If you follow this rule, you may miss out on a good opportunity every once in a while. But you will also be able to pass up deals that just won’t satisfy your customers.
Rule #3. Only make deals that will benefit your organization.
At first glance, this rule might seem to contradict Rule #2. On the contrary, these two rules need to work in unison.
Let’s say you are asked to hire a vendor because he is the husband of your wife’s best friend. You know him, and you know his product will be good for your customers. But his prices are outrageous and you can get a better price and equal quality from another vendor. What do you do?
To me, this is a no-brainer. You go with the other vendor. That is a better decision for your company – and for your customers. Never forget: You are running (or starting) a business, and good businesspeople have to make tough decisions.
Deal making takes a lot of time. But it’s worth it, because you want to build relationships that last. You can’t make a good deal without a good partnership. You can’t have a good partnership without a personal relationship. And you can’t build a personal relationship through phone calls or e-mails or in a conference room. Know your potential partner well, understand his expectations and needs, and make sure he understands yours. Both companies will benefit.
[Ed. Note: MaryEllen Tribby is Publisher and CEO of Early to Rise. ETR has created a brand-new Info Marketing program - an all-inclusive, A-to-Z blueprint for starting your own powerhouse Internet business. Learn how to pick a product and set up a website. Discover copywriting secrets from the masters, techniques to help you create an e-mail list, the best ways to market your product, and more. We've limited the number of spots to 250, and, as of today, we've only got a few spots left. So sign up now to be part of this exciting new program.]
Let the Demise of the Dollar Lead You to 1,000% Gains
As the dollar continues to erode, so will the accounts of those who rely solely on the usual stocks and bonds. But the demise of the dollar won’t be a calamity for everyone…
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Is This Google Tool Useful… or Scary?
By Suzanne Richardson
The Internet really helps bring us closer together. When that means helping you get in touch with other butterfly collectors around the world, for example, that closeness is fantastic. But sometimes it’s a little like living in a small town. And that’s not always a good thing… especially if you work from home.
One of Google’s many talents is its ability to find people. For instance, you can type in a phone number – and if it’s a land line, Google will spit out the name of the person whose number you typed in. And that person’s address. And a map to that person’s house.
Certainly, this makes finding people very easy. Don’t know the way to April’s surprise party? Type in her phone number and you’ve got instant directions.
But if you work from home, this tool could make you a little too visible. Let’s say you have a disgruntled customer who wants to scream at you in person. Or an overzealous client who wants to drop by during dinner. It’s all too easy for them to type in your phone number and show up on your doorstep.
Fortunately, Google has made it easy to remove yourself, your number, and your address from their results. Type your land line phone number into Google. Click on the result. (It should say something like "Phonebook results for 555 212 3344.") You’ll see your name, phone number, and address. Below it, click on the link that says "Request to have your name removed from this list." Fill out a short form and your information will be dropped from Google’s phonebook (but NOT from other websites like Phonenumber.com, Anywho.com, and ReversePhoneDirectory.com).
[Ed. Note: Do you think this Google tool is useful or scary? Let us know your thoughts - about this or any other ETR article - by writing to us at ReaderFeedback@gmail.com. Include your name and hometown, and we may print your comments in a future issue.
Correction: Suzanne Richardson's article, originally published on 11/8, incorrectly stated that removing your addess from Google will remove it from other online directories. Other directories may still publish your personal information.]
Boost Your Body’s Defenses with Beets
Every day, your liver processes and disarms hundreds, if not thousands, of toxic compounds that make their way into your body. While many of these toxins are unavoidable (like those found in the air due to pollution), many others are a direct result of our own bad choices – in diet, alcohol consumption, and the use of chemical substances.
The liver has a big job in neutralizing these harmful compounds. But the good news is that certain foods – like crimson-hued beets – can make your liver’s load a little lighter.
A recent study published in the journal Carcinogenesis found that beet fiber increases the activity of two important antioxidant enzymes in the liver, glutathione peroxidase and glutathione-S-transferase. Because the liver is the body’s primary detoxification center, free radicals are generated when toxic substances are broken down and eliminated. Glutathione peroxidase and glutathione-S-transferase serve as an antioxidant defense system, acting as bodyguards for liver cells.
The earthy flavor and unique texture of beets makes them a standout in many dishes. Try roasting them and slicing them over fresh organic mesclun. You can also chop and saute beets with greens, or puree baked beets and pears for a sweet and delicious side dish. Your liver will love you for it.
[Ed. Note: Kelley Herring is the founder and CEO of Healing Gourmet (www.healinggourmet.com) and the creator of Healing Gourmet's Personalized Nutrition Software. Learn more about how simple lifestyle choices can improve your health by reading ETR's free natural health e-letter.]
It’s Fun to Know: The Redevelopment of Biosphere 2
Not many luxury residential developments begin life as large-scale scientific experiments, but that’s the situation at the former Biosphere 2. From 1991 to 1993, this sealed, self-sustaining environment outside of Tucson, AZ housed eight "biospherians." Their job was to study how humans might live on future space colonies. The experiment collapsed when its food crops failed and oxygen levels plunged to dangerously low levels.
The structure was relegated to minor research and educational work. But recently, real estate developers bought the property and announced plans to build luxury homes and a resort hotel in and around the dome.
(Source: Discover Magazine)
Give Yourself a Nice Pay Raise – And A Three Day Weekend, Every Weekend
By the end of this week, you can give yourself a pay raise. How does an extra $20/hr sound… and schedule a few days vacation while you’re at it!
After a month or two, how about another raise… to $2,000 a week.
It’s happening everywhere. Ordinary people — including folks who never finished school — starting their own businesses… and making side incomes in the neighborhood of $40,000… $60,000… even $100,000 or more a year.
They’re living the American Dream. Now it’s time for you to start living it too. Click here to continue…
- Charlie Byrne
Word to the Wise: Laconic
Something that’s "laconic" (luh-KON-ik) is brief and pithy. The word is derived from the Greek for "of or relating to a Laconian or Spartan" (hence, "terse").
Example (as used by Bernard Stamler in The New York Times): "Readers’ reports range from the laconic to the verbose."
[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
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