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Archive for May, 2008


Take Your Water Bottle With You When You Leave Your Car

Tuesday, May 27th, 2008

You know that water bottle you carry with you everywhere? Or the bottles you use to feed your baby? If they’re plastic, they could be making you or your baby very sick. Fortunately, there’s one easy step you can take to protect yourself and your loved ones from the "toxic" effects of plastic.

The bottles you use may contain bisphenol A (BPA), an "endocrine disrupter" used to add strength to clear plastics. BPA can mimic, mask, or interfere with the effects of the body’s natural hormones. It’s been linked to prostate and breast cancer, and to neurological disorders in children.

The growing body of evidence was sufficient for the U.S. government to issue a warning: "the possibility that bisphenol A may alter human development cannot be dismissed." The Canadian government went further, listing BPA as a toxic substance, and banning the use of polycarbonate baby bottles. Children are exceptionally vulnerable to BPA because they are still growing and developing, but adults are also at risk.

But there’s one simple thing you can do right now to safeguard your family’s health. Researchers at the University of Cincinnati found high temperatures from exposure to boiling water produced a 40-fold increase in the rate of BPA release, regardless of the bottle’s age.

So don’t heat that plastic. Microwave your beverages and food in glass or ceramic dishes. Never heat plastic baby bottles, and wash your plastic containers by hand to avoid the high temperatures in your dishwasher.

And take that water bottle with you when you leave your car in the hot sun.

[Learning why your drinking water may not be safe is just one of the health warnings that is ignored by mainstream media.  When you subscribe to Dr. James LaValle’s The Healing Prescription, you’ll get the straight facts about the food you eat, the medications you take, and most importantly, how to take control of your health – information your doctor may not even know! If you want to discover a better way to stay healthy for years to come, click here.]

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Living Rich: Drawing on Your Inner Resources

Tuesday, May 27th, 2008

Being totally self-reliant, able to fend for yourself – it’s an appealing idea, one that’s been romanticized in literature and the movies.

Think Robinson Crusoe – Daniel Defoe’s adventure about a man shipwrecked on a desert island for 28 years. And Walden  - Henry David Thoreau’s account of his two-year “experiment” in simple living. And Cast Away – with Tom Hanks as a too-busy executive suddenly marooned for four years after his plane goes down during a business trip.

I’m not the build-a-cabin-with-your-bare-hands, grow-your-own-food, cook-over-a-wood-stove type. Still, I’d like to think I could make do without modern conveniences.

No, wait. I don’t have to think I could do it, I know I can do it.

In 2004, two hurricanes (Frances and Jeanne) scored a direct hit on my hometown. For more than a week after each one, my neighborhood had no electricity, no hot water, and sometimes no water at all. But I was fine.

With the help of a couple of ice chests and a manual can opener, I fed myself and my dog. Cold showers – unpleasant, but you’ve got to do what you’ve got to do. A plug-in phone and a portable radio connected me to the outside world. And a neighbor ran an extension cord between his generator and my computer so I could get my work done.

It was a challenge for people who had young children that needed to be kept busy all day long. I had a different challenge… because there were an awful lot of unexpected hours I had to fill by myself.

Gas stations weren’t pumping gas, and there was debris all over the streets, which made driving anywhere a risky proposition. So I was pretty much stuck in the house. Much to my surprise, I didn’t mind at all.

What would you do if you were stuck in the house for days on end with no electricity? I’m guessing you’d do what I did – things you love to do but never seem to have enough time for.

While it was still light out, I went for walks and visited with neighbors. I sketched. I painted. When it got dark, I read by the light of a Coleman lantern. I did a little writing. And when the electricity finally came back on, it was like coming home after a good vacation. I felt rested and rejuvenated.

Maybe more important, I was inspired to find the time to do more of the things that had been giving me so much pleasure – things that we all know are necessary for leading a well-balanced life… and making life a little richer.

 

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It’s Fun to Know: Beware the Pink Ice

Tuesday, May 27th, 2008

A French company has created a road surface that turns pink when the air temperature drops to near freezing. Its purpose is to warn drivers of possible icy conditions on roadways. The color of the surface reverts to normal when it warms up.

The technology is still being tweaked to make sure it can stand up to constant traffic and exposure to summer temperatures.

(Source: New Scientist)

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Word to the Wise: Proclivity

Monday, May 26th, 2008

"Proclivity" (proh-KLIV-ih-tee) – from the Latin for "sloping forward" – is a natural predisposition or inclination.

Example (as used by Michael today): "I have found that my natural proclivity to please inclines me to take on more than I should."

[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.]

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How to Be on Top of Everything

Monday, May 26th, 2008

Issue #2365
Monday, May 26, 2008

  • WEALTHY: Give the gift of financial independence (Suzanne Richardson)
  • HEALTHY: Are you missing this simple aid for joint-pain relief? (James LaValle)
  • WISE: General Patton on self-motivation

ALSO IN THIS ISSUE:

  • A filing system for an efficient and productive life (Michael Masterson)
  • 5 ways to find work after an extended absence (Jason Holland)
  • It’s Good to Know… about decision-making
  • Add "proclivity" to your vocabulary

(more…)

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Re-Entering the Workforce

Monday, May 26th, 2008

Finding a new job after being out of the workforce for an extended period of time can be tough. Maybe you left work to raise your kids. Or took a few months to care for a sick family member. Or had to quit your job because of an illness of your own. Whatever the reason, you probably want to know what you can do to improve your chances of getting hired again.

An article on CNN.com had these suggestions:

  • Network with old and new business contacts during your "sabbatical." Then ramp up your efforts when you start job hunting. Set up short meetings with previous employers, customers, co-workers, etc. If you can’t get together with them in person, keep in touch by phone and e-mail.
  • Stay current with new trends and technologies in your industry by attending seminars, reading trade publications, and taking courses.
  • Work as a volunteer with your favorite organization or intern with a company in your industry. You may not get paid, but this will keep your skills up and give you great networking opportunities. It will also show potential employers you are ready to get back to work.
  • When you apply for a job, briefly mention in your cover letter why you were out of work for so long. But don’t dwell on it. Focus, instead, on your relevant experience and accomplishments.

This advice sounds reasonable – but there’s something FAR better you can do.

Instead of sitting on your duff while you’re caring for your grandmother or raising your kids, start your own business. There are dozens – if not hundreds – of businesses you can run in just a few hours each week. It’s a great way to gain experience. Plus, it can provide you with a steady stream of income to tide you over during the job search. It may even blossom into a full-blown career.

Real-world experience in business is going to be worth a lot more to you – and a potential employer – than merely volunteering or glossing over your absence in a cover letter.

[Ed. Note: Discover dozens of side businesses with ETR's Profit Center Dispatch alerts. Learn more here about how to find out about the latest and most profitable opportunities.]

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How to Be on Top of Everything

Monday, May 26th, 2008

Since January, I’ve been writing a series of essays in ETR intended to give you tools to help you "master plan" your life. As you put this master plan into action, you will find that you will be able to accomplish more than you ever have before. Much more.

People will notice how much you’re getting done. And, as a result, some of them will come to you for help. Or advice. Or simply to give you more work because you have become your company’s go-to person.

This is all good and fine. It gives you more power. And more options. And more opportunities to advance in your career. But unless you have a system for managing all that extra work, you will soon be overwhelmed. And if you become overwhelmed, the happy movie you have been making about yourself in your head will turn into a horror story. People will be disappointed in you. Then angry at you. Before you know it, they’ll be planning to get rid of you.

You don’t want that. You want to be in charge of how much work you do. And you want to keep track of that work as well as all the work you delegate to other people. Keep in mind that the higher up you go in your business, the more delegating you’ll be doing.

As you get busier, you want to get better too. In particular, you want to:

  • Be prepared for all the meetings you go to.
  • Meet all your deadlines.
  • Answer all the questions you’ve agreed to answer.

I am not, by nature, interested in details. I have always prided myself on being a "big picture" sort of person. I am pretty good at figuring out possible causes for problems and coming up with solutions. And I can push to have them implemented. But I don’t like keeping track of things.

I am also, by nature, a gregarious person. If someone asks me to do something, I like to comply. But I have found that my natural proclivity to please inclines me to take on more than I should. And that – in the past – often led to forgetfulness and missed deadlines, which led to disappointment and frustration.

Years ago, I realized that if I wanted to be able to run a company and lead smart, independent people, I would have to get better at keeping up with what they were doing. I could not afford the foolish luxury of excusing my insufficiencies in this area by crowning myself as a big-picture person. I had to adopt techniques and learn skills that would allow me to maintain control of the critical details of my business.

Since I had no natural inclination for organization, I was not able to conjure up any clever systems on my own. The organizational system that I started to follow then – and continue to follow now – is a composite of what I learned from several of my past mentors.

I’ve described my goal-setting, task-setting program in previous ETR essays. It’s based on establishing yearly goals, monthly objectives, and weekly and daily task lists, and then organizing those task lists in terms of priorities. The lion’s share of my progress in personal productivity has come from using this program, and I can honestly say it has revolutionized my life.

What the program itself does not do is give me a way to keep track of the many details I need to be aware of in order to implement all those tasks effectively. Take a look at the illustration in my article on using daily task lists to accomplish your goals and you’ll see what I mean.

To keep track of the details, I use a very simple manual system consisting of two file folders. Here is how it works:

Documenting the Details

Let’s say one of my goals for the year is to publish a book of some sort. To do what I personally have to do to get that done (write the book and approve the final layout and publicity), all I have to do is make the book a goal for the year… insert the appropriate monthly objectives… and then, based on that, put together my weekly and daily task lists.

But what about all the other work involved in getting the book published – the work I’m not going to do myself? What about finding someone to edit the book? What about the proofreading? What about getting a marketing team together and making sure they follow up with their plans? All of these necessary activities will be coordinated by my publisher. And since I won’t be there during those discussions, I ask for a summary of the details to be sent to me by e-mail.

Filing the Details for Future Reference

When I receive that e-mailed summary, I usually skim it, just to remind myself of what it is about. Then I scribble some note at the top (such as "Ideas about publicity for new book") and I file it in a folder I keep beside my desk. The folder has 12 pockets, one for each month of the year. I put the document in the appropriate one. If, for example, the first marketing meeting for the book will take place in April, I put the meeting notes in the pocket marked April.

When April arrives, I take those notes out of the folder (along with all the other documents stored in the April pocket) and insert them into another folder. This one has 31 pockets, one for each day of the month. I put the meeting notes where I think I’ll need them. Maybe the day of the meeting. Or maybe a day or two beforehand so I will have time to review them and prepare.

Out of the Folder and Into My Brain

Each night before I leave the office, I make up my task list for the following day. To make that list, I review any tasks from the previous day that did not get completed, as well as my weekly task list for tasks not yet assigned. I also take out the following day’s documents from the daily folder (the one with 31 pockets), and look at each item to reacquaint myself with the project it refers to.

Sometimes a quick review is all I need to bring myself up to speed. Sometimes I have to schedule some time the next day to study it. (Thirty minutes to an hour is usually more than enough.) Then, when it comes time for the meeting, I am equipped not only with the original notes in hand but with some fresh ideas stimulated by my preparation.

I use this system to keep track of just about everything. Projects I delegate to other people, projects I take on myself, and even correspondence I intend to answer later on. When I come across (or have sent to me) articles of interest, I often put them in the daily folder and bring them out to read one at a time.

It’s a very simple system, but it has been a big help to me. And it allows me to see, very plainly, when I can’t take on any new projects – because the monthly folder is overstuffed!

I am sure there are plenty of computerized programs that approximate what I do with these two folders, but those I’ve tried so far have proved to be cumbersome and time consuming. I prefer to do it manually.

As the master plan I’m helping you build with this series of articles starts to change your life, you will begin to take on more responsibility than ever before. Don’t count on your memory or natural intelligence to keep you on top of important details. Use this simple filing system.

[Ed. Note: You truly can change your life and accomplish all your goals with simple strategies like Michael's filing system. For dozens more ways to achieve your dreams - plus tons of goal-setting tools and motivation to get going - sign up for ETR's Total Success Achievement Program. Learn more here.]

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It’s Good to Know: About Decision-Making

Monday, May 26th, 2008

According to a recent study, your brain makes decisions several seconds before you even know about it.

Researchers from the Max Planck Institute used brain scanners to monitor brain activity as test subjects made a decision to push a button with either their right or their left hand. There was a noticeable difference in brain activity between a decision made to use the right hand and a decision made to use the left hand. Not only that, but the scientists found that the brain activity took place at least seven seconds before the subject made the "conscious" choice to push the button.

(Source: Wired)

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Taking All the Right Supplements, but Still in Pain

Monday, May 26th, 2008

You may have heard that glucosamine HCL and chondroitin can help rebuild damaged cartilage in your joints. But what if you’re taking supplements to relieve your aching joints, and you just aren’t feeling better? You could be missing a surprisingly simple piece of the puzzle: Exercise.

Glucosamine supplements can definitely help. Recent studies show that glucosamine can improve joint flexibility and mobility in people with osteoarthritis. On top of that, glucosamine helps slow the progression of osteoarthritis, and may even relieve symptoms for weeks after treatment ends.

But glucosamine can’t work its "magic" alone. You need to exercise to help the supplement take effect.

When you’re in pain, exercise may seem like the last thing you want to do. But the closed capsules of your joints are a little different than other areas of your body. Think of cartilage as a sponge. When you flex or compress a joint, the cartilage contracts. When you straighten or release that joint, the cartilage expands and pulls in nutrient-rich fluids.

Without regular exercise, any supplements you’re taking don’t get to where they need to go. So go ahead and do some regular low-impact exercise. Your joints will thank you for it.

[Ed. Note: James B. LaValle, RPh, ND, CCN, is founder of the LaValle Metabolic Institute, a nationally recognized expert on natural therapies, and the author of 13 books on healthy lifestyles and integrative care, including Cracking the Metabolic Code.

By modifying your diet, medications, lifestyle, and exercise habits, and with nutritional supplementation, your health is largely in your control. Learn more here.]

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The Perfect Gift for Your Graduate

Monday, May 26th, 2008

Right about now, you may be wondering what to send your niece for a high school graduation gift. If you’re like most people, you’ll wind up mailing her a check. At least that’s what 57 percent of gift givers plan to send to their graduating loved ones this year, according to a National Retail Federation survey.

The three next most-popular gifts (according to the survey) are gift certificates, clothing, and electronics.

Whatever happened to good old-fashioned books? Just because your graduate is done with school doesn’t mean she’s done learning. Why not give her a book that has been meaningful, useful, or enlightening for you?

When my little brother graduated from high school, I gave him a copy of Michael Masterson’s best-selling book Automatic Wealth for Grads… and Anyone Else Just Starting Out. It turned out to be a book he’s read a dozen times. One reason: It’s packed full of strategies for building wealth from the bottom up.

For instance, he’s taken Michael’s chapter on the miracle of compound interest to heart. Instead of spending every penny he earns, he thinks seriously about whether his purchases have long-term value. And he puts a big chunk of his earnings into savings. When he gets out of the Army, he says, he’ll have more than enough for a down payment on a house.
 
But even more important than that, Michael wrote the book specifically for young people – people with no knowledge of investing or real estate or business-building. He has nearly a dozen nieces and nephews and three sons of his own. So he made sure that every piece of advice in the book is useful for people just starting out. And that each suggestion is easy to follow. For example…

  • Why "regular" pay raises are a sure path to poverty (and the 3 steps you can take to build a high income in record time)
  • How to use your first job out of school as a "paid education" in the art of running a business – and how to transition easily and ethically to your own business when the time is right
  • 8 easy-to-follow direct-marketing techniques that can help you land practically any job you want

Sure, you could give your graduate a check or an iPod or a gift card from Best Buy. But wouldn’t a better gift be one that could help him discover financial independence?

[Ed. Note: Get the perfect gift for your graduate right here.]

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The Truth About the Vending Business

Saturday, May 24th, 2008

Issue #2364

  • WEALTHY: How to get into a $30 billion a year industry (Paul Lawrence)
  • HEALTHY: Never heard of hemp bread? (Michael Masterson)
  • WISE: Robert C. Gallagher on change

ALSO IN THIS ISSUE:

  • No need to raise the bar on your goals… (Noah St. John)
  • The solution to a common language problem (Don Hauptman)
  • It’s Fun to Know… about the brightest light in the universe
  • Add "paucity" to your vocabulary

(more…)

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Word to the Wise: Paucity

Saturday, May 24th, 2008

"Paucity" (PAW-sih-tee) – from the Latin for "few" – is scarcity or scantiness.

Example (as used by Jordan Robertson for Associated Press): "The paucity of iPhones for sale in some markets comes as Apple is hustling to meet its goal of selling 10 million of the hybrid iPod-cellphone-Internet surfing gadgets by the end of 2008."

[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.]

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Lower the Bar

Saturday, May 24th, 2008

To succeed in business and your personal life, you often hear that you need to be more competitive – that you need to keep "raising the bar." But is that really necessary… or even a good idea?

"Raising the bar" is a metaphor that was borrowed from the sports world. So let’s see how it works there.

Let’s say you come to me because you want to be a world-class high jumper. I’ve written a best-selling book called How to Be a Champion High Jumper, so you ask me to coach you. You come out onto the field all excited and ready to go.

I set the bar at seven feet, because that’s what the world’s best high jumpers can do. So you stand there looking at the bar waaaay up there.

I say, "Come on, you can do it! Think positive! Get psyched!"

You, being the trooper you are and not wanting to disappoint me, take a few steps back, then run as fast as you can, jump up with all your might… smack!

Not even close. You miss the bar by a mile.

"That’s okay!" I say, clapping my hands. "You’ll do better next time!"

You gamely try again and again. I try to keep you encouraged and motivated. But you miss that damn bar every time.

Do you realize how many people put themselves in a similarly impossible situation? They raise their "bar" so high that even when they do accomplish something, it never seems good enough. Sound familiar?

That’s why I often tell my clients to lower the bar. Here’s the difference…

"Raise the bar" means:

  • Close more sales.
  • Finish writing your article.
  • Make a million dollars.
  • Find the right person.
  • Lose 20 pounds.
  • Don’t make a mistake.

"Lower the bar" means:

  • Listen more than you talk.
  • Start writing your article.
  • Learn about smart investing.
  • Be the right person.
  • Exercise for 15 minutes today.
  • Give yourself permission to be human.

Write down five ways you can lower the bar today, this week, and this month. Write down how and where you’ve expected yourself to be perfect the first time out. Then lower the bar… and give yourself permission to succeed.

[Ed. Note: Noah St. John is founder of SuccessClinic.com and author of the upcoming book The Secret Code of Success. He's been featured on CNN, National Public Radio, and in The Washington Post.You can get Noah's Special Report "How to Double Your Income in 12 Weeks by Working Less" at SuccessClinic.com.
 
Get dozens more proven techniques that can help you accomplish your longest-held goals with ETR's Total Success Achievement Program. Learn more here.]

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The Best Bread for a Healthy Diet

Saturday, May 24th, 2008

When you’re trying to get healthy, fiber is a super-substance that you can’t get enough of. That’s why I try to include 100 grams or more of fiber in my daily diet.

One way I get fiber is in my bread – hemp bread. After I mentioned that in ETR, Charles Lowen of Fort Worth e-mailed me: "I have heard about just about every kind of organic bread there is. However, no one in the health food stores here in Texas seems to know what hemp bread is. Could you please let me know more about it and where to buy it?"

I have been eating hemp bread because it was the only bread I could find with more than 2 grams of fiber per slice. It is a compact bread with a very grainy texture, so it takes a little while to learn to like it.

The brand I eat is French Meadow Bakery’s Healthy Hemp Sprouted Bread. Each slice has 95 calories, 5 grams of dietary fiber, and 7 grams of protein.

You won’t find hemp bread in your local grocery store. But it is available at Whole Foods and many other specialty markets, as well as online at frenchmeadow.com.

Recently, K discovered a high-fiber bread at the grocery store that you might like better. It’s called Nature’s Own Double Fiber Wheat Bread, and it has 50 calories per slice, 5 grams of dietary fiber, and 3 grams of protein. Try it and let me know what you think.

[Ed. Note: Eating right isn't the only thing you should do if you hope to turn your dreams into reality. But many proven goal-setting strategies are just as easy to understand and implement. Learn more about how you can finally accomplish your personal and professional goals here.]

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The Language Perfectionist: Same Difference?

Saturday, May 24th, 2008

A frequent language question concerns the use of different from and different than. When do you use one or the other, and why?

The answer is easy – except when it’s hard! But let’s give it a try…

The phrase different from is correct when a noun or pronoun follows: "Girls are different from boys."

Here’s the explanation. A comparative adjective, such as bigger or better, takes than. But contrary to what some people assume, different is not a comparative adjective; it draws a distinction. So from is the right word.

But suppose a clause rather than a noun or pronoun follows. Here, different than is usually the superior choice: "The situation now is different than a year ago."

The common-sense reason is that when different from precedes a clause, it requires additional verbiage, and the result is often cumbersome or awkward. To be correct using from, the above example would have to be reworded as: "The situation now is different from what it was a year ago."

As with many disputed language issues, some permissive authorities insist that both different from and different than are "standard" and it doesn’t matter which is used. But I suggest taking the more cautious route and observing the above guidelines. What’s more, if you develop a good "ear" for language, that skill will often help you determine whether a construction is right or wrong. If it sounds bad, it probably is – and it should be rewritten.

[Ed Note: For more than three decades, Don Hauptman was a direct-response copywriter. He is author of the wordplay books Cruel and Unusual Puns and Acronymania, and is now writing a new book that also blends language and humor.]

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It’s Fun to Know: The Brightest Light in the Universe

Saturday, May 24th, 2008

The brightest light in the universe isn’t some star billions of light years away. Nor is it any other astronomical phenomenon. The "Brightest Light" title belongs to the world’s most powerful laser, created by physicists at the University of Texas.

The laser generates 1 petawatt (1 million billion watts) of power, which is more than all the power plants in the world combined. That level of power, and the resulting brightest light ever recorded in the universe, is sustained only for trillionths of a second.

The laser is being used to study the intense conditions of stars.

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7 Sizzling Business “Discoveries” From Stanford’s Facebook Project

Friday, May 23rd, 2008

Last week, Mark Zuckerberg turned 24. 

And my guess is, he’s pretty pleased with himself so far. 

A college dropout, but from Harvard. A self-starter who launched a business from his dorm room. And, oh yeah, the world’s youngest self-made billionaire, according to Forbes magazine. 

Make that a "theoretical" billionaire, since nobody is really sure exactly how much his hugely popular social networking website – Facebook.com – is actually worth. It’s not publicly traded (although Microsoft recently laid out $240 million for a 1.6 percent stake). It’s not clear where it’s headed. (Mark himself isn’t sure.) To some people, it’s not clear what purpose it’s supposed to serve either.

But at least two things are sure.

First, people love it. Nearly 70 million visited the site last month alone. And second, it’s looking like one of the greatest entrepreneurial innovations since, well, since someone launched the first business that offered sliced bread.

One area that’s receiving plenty of attention is Facebook "apps" (applications). From useful tools such as stock market tickers and productivity management helpers… to complete time wasters such as "Give the Imaginary Puppy a Bone" and "Who’s the Coolest Person You Know"… there’s a Facebook app for just about everyone and everything.

After (if) you’ve chosen to add one of them to your Facebook homepage, it appears in your browser whenever you sign into Facebook. Most of these mini software programs are developed by third-party entrepreneurs and monetized (not always successfully) through a classic advertising model: Get eyeballs and sell ad space or place affiliate ads.

Facebook apps are so big right now that B.J. Fogg, a professor at Stanford University, launched a semester-long project just to develop more of them for Facebook users. 

At the end of the project, Professor Fogg and his students published a report to name the entrepreneurial "discoveries" they had made. But were they really breaking new ground… or just reinventing the wheel?

I decided to take a look. 

Combing back through the longstanding principles you’ve come to know and love by reading ETR and Michael Masterson’s new blockbuster book, Ready, Fire, Aim, I found at least seven "power principles" with fascinating parallels to the Stanford project.

ETR Longstanding Principle #1: Introducing Products in a "Mature" Market

Consumers aren’t looking for brand-new products. They are looking for clever new adaptations of products they already know and love. When it comes to new, the human brain can take only a little bit of it. Eighty percent of the old and 20 percent of the new is a good ratio. Your goal is not to develop brand-new ideas, but to notice trends that are beginning and develop products that anticipate that trend by a little – just enough to catch your customers’ attention.

Stanford Students’ Discovery: "It’s Never Too Late to Create a Winning App." When Stanford launched its project, over 6,000 Facebook apps already existed. Just 10 weeks later, the students had six apps in the top 100. None of them were radically innovative.

ETR Longstanding Principle #2: The Power of Simplicity

You can sell your product very well by talking about its many benefits, but the most successful advertisements are those that highlight a single benefit above all the rest. When this benefit can be presented as uniquely characteristic of your product, you have an advertising proposition that can last and last and last. Consider any great marketing campaign – Burger King, Charmin, Marlboro. Examine any best-selling, non-fiction book – The 7 Habits of Highly Effective PeopleWhat Color Is Your Parachute?Chicken Soup for the Soul, etc. What do they all have in common? Simple themes. Ideas so simple they can be expressed – and understood – in a few short words.

Stanford Students’ Discovery: "Simplicity & Clarity Are Key to Success." Too many and too clever features must be avoided. Make the app easy to understand and easy to use.

ETR Longstanding Principle #3: Ready Fire Aim

Prudent entrepreneurs do not want to risk all their time and money on a single product. For the best chance of having a successful business, they need to be flexible about what they are going to sell. If their first product idea doesn’t sell well, they have to be able to generate a second one. Innovation matters. And so does speed. Combined, they give your business extraordinary growing power.

Stanford Students’ Discovery: "Speed & Flexibility in Launch & Iterations." Many fast and imperfect trials beat deep thinking. Flexibility beats quality. Getting too attached to one app idea can be fatal.

ETR Longstanding Principle #4: Teamwork Accelerates Success

Don’t even try to be a solo creator. You will get much better results much faster by working with a creative team. Sometimes you might get ideas while showering or exercising or sitting on an airplane. But don’t act on those ideas. Write them down and bring them up when you’re brainstorming with a group.

Stanford Students’ Discovery: "Community Cooperation Leads to Success." Students helped each other a lot, sharing app development tools, tips, and insights.

ETR Longstanding Principle #5: Check Your Ego at the Door

How do you know your product idea is good? Because you think it is? Business is not and must never be about what the business owner thinks is good or right. Business is about providing value to the customer. And that value can be determined only by the customer. Don’t let your ego convince you that you can teach the marketplace what it should and should not buy, or you and your ego will soon find yourselves in the poorhouse.

Stanford Students’ Discovery: "Individual Opinions About Apps Are Worthless." Don’t be swayed by one person’s opinion. Just get the app out there and see what happens.

ETR Longstanding Principle #6: Don’t Be a Pioneer in a Market

When it comes to answering most of the fundamental questions about selling your product, the best answer will always be this: Imitate the industry norm. If you are always trying to come up with product ideas that are completely new and different, you will likely have a very poor success record. Let others live (and die) on the "bleeding edge."

Stanford Students’ Discovery: "Copying Success Is a Cheap/Fast Way to Succeed." Novelty isn’t the best approach to apps. If you’re desperate for a win, just copy something that’s working. Flipside: If your app is doing well, expect imitators.

ETR Longstanding Principle #7: Accelerated Failure

Success isn’t usually about genius. It is more often about trial and error. Money loves speed, so spend your time trying new permutations of existing successes rather than endlessly hoping to find the "next big thing." Don’t be satisfied when things are "running smoothly." An entrepreneurial business should never be running smoothly. Accelerate failure. Cut your losers and run with your winners.

Stanford Students’ Discovery: "Success Comes From the Chaos/Control Cycle." Successful innovation is a process.

So there you have it…

Now I didn’t have access to the details of everything Stanford attempted. They probably made a ton of easily avoided mistakes. And it sounds like they had some very nice successes as well.

Over the course of their project, they generated somewhere in the neighborhood of $1 million in revenue from their Facebook apps… not to mention at least three new companies that were formed during the experiment, two others that were acquired by outside interests, and reports of lucrative job offers for all those who completed the program.

But I’m willing to bet they could have had a LOT greater success, a LOT sooner, if they’d spent some time reading Early to Rise and Ready, Fire, Aim first.

That’s where you have an advantage. You see, every day you get (for free!) what took about 75 smart Stanford students months and months to learn. (And think of all that tuition you saved too!)

So congratulations to the smart and energetic Stanford students who learned these lessons the hard way – valuable business principles that most people never discover. You’re getting them the easy way… but now it’s up to you to go out and use them.

Of course, you’ve got to be careful out there. Just because lots of people are talking and writing about Facebook doesn’t necessarily make it a lasting business model. There have been plenty of "next big things" on the Internet that have turned out to be quite the opposite.

But you’ve got the knowledge to find out quickly, without spending a fortune, if a business idea is going to work. So who knows? Use ETR’s ideas to develop an "app"… and maybe YOU will be next to make a million bucks on Facebook!

[Ed. Note: If you’re interested in taking a look at Facebook, you can get started by “friending” Charlie. Just go to his blog and click the Facebook link on the right side.

And if you’d like to learn more of ETR’s business-building skills, join our team at our 5 Days in July conference. The event is SOLD OUT, but we have just squeezed in a few FINAL additional spaces. Check the website to find out if any remain.]

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Word to the Wise: Equivocation

Friday, May 23rd, 2008

"Equivocation" (ih-kwiv-uh-KAY-shun) – from the Latin for "of identical sound" – is intentionally vague or ambiguous language.

Example (as used by Ben Macintyre in a New York Times review of Peace by Richard Bausch): "The best [writing about war], like this, is in shades of gray, evoking the personal equivocations, the doubts, the discomfort, and the sheer, crushing boredom and fatigue that constitute the real nature of war."

[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.]

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Unhealthy Investments Are Best

Friday, May 23rd, 2008

What trumps a stalled economy? Demographics. And what are the two biggest demographic trends today?

1. Globally, it’s the rapid growth of a middle class in countries like India, China, and Brazil. They want what we already have: a nice car and house, modern appliances, and good education and health care for their children.

2. Domestically, it’s back to the future. Boomers still rule. And they’re getting old. Hospitals, long-term-care facilities, vaccines, and meds of all kinds will see greater demand.

What these two trends have in common is health care. Globally and domestically, it’s set to grow – even if the economy isn’t.

[Ed. Note: ETR's Investment Director, Andrew Gordon, 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.]

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It’s Good to Know: The Most Popular Books in the United States

Friday, May 23rd, 2008

A recent Harris Interactive poll of American adults has found that the Bible is the most popular book in the country among both men and women. Rounding out the top 10 are favorites that have topped best-seller lists for years:

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The Truth About the Vending Business

Friday, May 23rd, 2008

When Steve and his father met with the vending machine distributor’s salesman, warning bells should have gone off in their heads the first time he opened his mouth. "Listen," he told them, "if you want a guarantee, go get a CD at the bank. If you’re businessmen, then let’s do business."

That’s when they should have said, "No thanks." But they had pre-sold themselves on the deal. So they plunked down a quick $5,000 to buy two machines, and they were promised excellent locations.

Now Steve and his father weren’t outright swindled. But the locations they were given didn’t perform nearly as well as the salesman had promised. Steve’s father badgered the distributor for better locations, but they refused. As far as they were concerned, they’d honored the contract – and the lawyer Steve checked with was in agreement.

I’m not going to sit here and tell you that every distributor who sells vending machines in the classified section of your local newspaper will give you lousy locations. But Steve’s didn’t produce enough income to cover his investment in the equipment.

So one of the first "insider secrets" I learned about the vending business is that your written agreement with the distributor must describe the kind of locations you will be getting. It’s unreasonable to expect them to guarantee that a particular machine in a particular spot will bring in a specific minimum income. But you can negotiate for other things. Like traffic – the number of people who work at the location or the average number of people who walk by each day.

If, for example, your agreement calls for the distributor to provide locations in buildings with a minimum of 100 employees onsite, there’s a good chance your machines will be profitable. If you don’t specify the number of employees in your vending location, you could end up in a building with 100 of them… or with five.

You can also negotiate to include a non-compete clause in your agreement stating that no other machines at that location can sell the type of product you’re selling (beverages, snacks, etc.). You may also want to include a pre-approval clause so you can check out the location before your machine gets delivered there.

Admittedly, there are some landmines in the vending business that newcomers have to learn to watch out for. But if you know how to sidestep them, this is a very real profit opportunity. More than 100 million Americans use vending machines every day, National Automatic Merchandising Association spokeswoman Jackie Clark reported to The Christian Science Monitor. And it’s a nearly $30-billion-a-year industry.

The vending machine business is…

Simple: If your machines are at locations that aren’t too far from each other, you (or someone you hire) can easily service your route in one day. And all it requires is loading them with merchandise and collecting the cash.

Lucrative: If you have 10 to 20 vending machines, you can bring in as much as $2,000 a day.

Flexible: Whether you want to be a part-time operator or a major player, this business can accommodate you. You can have as few or as many machines as you want. Some well-capitalized operations have as many as 500 or 1,000 machines.

If you want to get started in the vending business, here are some of the basic steps:

  • Decide What You Want to Sell

You can sell gumballs, condoms, ATM services, phone cards, beverages, snacks, health sundries, etc. in vending machines. I’ve even seen machines that sell makeup, iPods, cellphones, headphones, DVDs, USB devices, and more.

  • Purchase the Machines

You can buy new or used machines from the distributor who will be supplying you with merchandise. I preferred used machines, because I could buy them at a fraction of the price of new ones – and they had very few mechanical problems.

I began with one used snack machine that I bought for $50. Within a couple of weeks, I’d made enough money to buy a number of small machines that dispensed handfuls of candy. These were also cheap – less than $100 each. Within a couple of months, I had a 100 percent return on the cost of those machines, so I started buying some larger snack and beverage machines. In a matter of months, I had a 40-machine route that made a profit of almost $500 for every day I worked it. When I eventually sold the route, I made a profit of 400 percent on the cost of the machines, because they’re worth a lot more on location.

  • Secure Your Locations

Like retail, this business is all about location, location, location. You want your machines in places that have lots of traffic – large companies, auto dealers, hospitals, colleges, airports, etc.

If you buy from a distributor that supplies the locations as well as the machines, follow the advice I gave above to negotiate for good spots. If you’ll be finding the locations yourself, you’ll have to do some work. For my first vending route, that meant marching into business after business and getting a hundred rejections to hit that one "yes." For my second route, I saved time and energy by using direct mail to get leads that I would then follow-up on in person. You can also hire a third party to scout out locations. Most of them get a flat fee that is negotiable, but it usually ranges from $150-$500 for each spot they find for you.

No matter how you find good locations for your machines, you’ll have to use the powers of persuasion you’ve been learning in ETR to convince the owners or managers of those properties to let you set up shop. ] Some of them will want a percentage of the profits. (What you agree to is negotiable, but I would suggest no more than 10 percent.) Others will just want to make sure you will keep the machines well-stocked and in good working order.

  • Service the Machines

Machines in really hot locations may need to be serviced more often, but for my vending business, a weekly visit to the machines to collect the money and restock them was enough. The distributor you buy the machines from will train you on how to do it. It’s not hard. I’m not a very mechanical person, and I had no problems.

So give a little thought to the vending machine business. If you do it right, it’ll be a nice source of side income for you.

[Ed. Note: Paul Lawrence is the creator of the Quick and Easy Microbusiness System, ETR's program for starting a business for under $100. If you're interested in the vending business, Paul offers an audio course that explains exactly how to do it. Check out the details here.]

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7 Sizzling Business Discoveries

Friday, May 23rd, 2008

Issue #2363
Friday, May 23, 2008

  • WEALTHY: What trumps a stalled economy? (Andrew Gordon)
  • HEALTHY: An unexpected breakfast for the cholesterol-conscious (James B. LaValle)
  • WISE: Paulo Coehlo on experience

ALSO IN THIS ISSUE:

  • A Stanford education for free? (Charlie Byrne)
  • The most talked-about ETR essay in recent history
  • It’s Good to Know… about the most popular books in the U.S.
  • Add "equivocation" to your vocabulary

(more…)

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2 Eggs or a Pop Tart?

Friday, May 23rd, 2008

An egg has approximately 200 mg of cholesterol, and frying or scrambling it can up the cholesterol to approximately 245 mg. According to Kellogg’s, a Blueberry Pop Tart contains no cholesterol, but it does have 39.8 g of carbohydrates – almost half of them from pure sugar. So which is a healthier breakfast – an egg or a Pop Tart?

The National Heart, Lung, and Blood Institute says you should eat less than 200 mg of dietary cholesterol each day. That’s because "cholesterol is one of the major risk factors for heart disease." Not to mention "the higher your blood cholesterol level, the greater your risk for developing heart disease or having a heart attack." So if the egg breakfast has more cholesterol, you might think it’s the wrong choice. But you’d be wrong. The egg breakfast wins out over the Pop Tart.

You see, it’s not the amount of cholesterol you have in your blood that puts you at risk, but the form in which it’s found. Processed foods that are high in sugar can contribute to inflammation and increase the volume of free radical byproducts from metabolism. This can end up increasing the amount of blood cholesterol found in its "oxidized" form, the form your body can’t use to build cells and create sex hormones. It’s "oxidized" cholesterol that’s deposited on the walls of your blood vessels and increases your risk of a heart attack.

It may be counterintuitive. But eating a food that’s a little higher in dietary cholesterol but doesn’t spike your blood sugar levels and create inflammation is sometimes actually healthier, even if you have "high cholesterol."

[Ed. Note: James B. LaValle, RPh, ND, CCN, is founder of the LaValle Metabolic Institute, a nationally recognized expert on natural therapies, and the author of 13 books on healthy lifestyles and integrative care, including Cracking the Metabolic Code.

By modifying your diet, medications, lifestyle, and exercise habits, and with nutritional supplementation, your health is largely in your control. Learn more here.]

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Why Most Expensive Stocks Are Rip-Offs

Thursday, May 22nd, 2008

Many investors swear by the "efficient market theory." All it means is that through the magic of millions of investors buying and selling stock every day, you get what you pay for. If a company is cheap, it’s cheap for a reason. If it’s expensive, it’s expensive for a reason.

I’m a dissenting member of the "efficient market theory" club. First of all, the market runs as much on emotion as it does on logic. And extremes rule. Investors are either too pessimistic or too optimistic.

Instead of the "efficient market theory," I’d call it the "inefficient market theory."

The fact is, you hardly ever get what you pay for when you invest. You usually get too little or too much. These days, when it comes to expensive stocks, you get much too little.

There are 153 companies with a price-to-earnings (P/E) ratio of over 100 (according to a search I did on my Yahoo stock screener). If you’re not familiar with P/E ratios, a share price greater than 100 times annual earnings or profits (per share) is very high. To justify such a high price, the company has to grow like the dickens and give every indication of continuing to do so.

I didn’t go through all 153 of those companies. But going through about half of them, I found that just a few earned their high P/E ratios because of strong growth. Usually, it was because their earnings fell faster than their price.

A good example: eBay (EBAY). Its earnings dropped 65 percent over the past 12 months. But its price dropped only 8 percent. At a P/E ratio of 98, its price is now much higher compared to its earnings than it was a year ago. The point is, eBay got more expensive by having a bad year, not a good year.

There are rare exceptions to this pattern, and one comes from overseas. Baidu is China’s Google. Its P/E ratio is 127. But it also grew its earnings over the past year by 95 percent. Phoenix-based First Solar’s (FSLR) P/E ratio is 110. But its earnings grew over 1,000 percent last year.

At one time, you could have argued that Google’s ultra-fast growth in revenue and earnings warranted its high P/E ratio. (It was over 100 for a long time but is now at 40.) But very few of the current crop of super-expensive companies can make such a claim. You should avoid them like the plague… unless you know from looking at past earnings that you have a Baidu or a First Solar on your hands.

[Ed. Note: ETR's Investment Director, Andrew Gordon, 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.]

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It’s Fun to Know: The Original Chocoholics

Thursday, May 22nd, 2008

Researchers analyzing 3,000-year-old pottery shards from Honduras have found evidence of the earliest man-made chocolate product. A chemical breakdown of material found on the shards led them to believe that it contained a wine-like beverage made from the fermented pulp of the cacao plant. This discovery pushes back the earliest documented use of cacao by 500 years.
(Source: Discover Magazine)

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A Lesson in Service From a Detroit Airport Waitress

Thursday, May 22nd, 2008

While waiting in the Detroit airport, I popped into Max & Erma’s for lunch. Grace was serving about six or seven other tables. And she was everything you’d expect a good waitress to be – prompt, friendly, efficient. She had a drink on my table in three minutes. She took my order in five. And my order – which had a few "tweaks" that deviated from the description on the menu – was exactly right and on my table in 10.

But she also did something that I believe all businesses should try for. She anticipated the needs of her customers, and met them as quickly and efficiently as possible.

That meant she refilled my drink before I’d taken the last sip of my first one. She asked the man sitting behind me if he wanted mustard the second she put down his burger. And – because everyone eating there had a flight to catch – as soon as she made sure we had everything we needed, she placed the bill on the table, and was ready to take it as soon as we had to leave.

These may sound like small things. And they were. But they made me feel comfortable. I wasn’t worried about missing my flight. I got exactly what I wanted to eat. And though she was quick, I didn’t feel the least bit rushed. The main thing is, I didn’t have to ask for any of it.

"Spending time and energy on your customers. That’s what good customer service is," says Michael Masterson.

 Just anticipate what your customers want, and deliver. This might take some out-of-the-box thinking on your part. And it means going beyond offering what your customers would expect. But if you take the time to do it, you’ll find yourself with loyal customers who will trumpet your praises to the world.

[Ed. Note: What are you doing to anticipate your customers' needs? Let us know here.]

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Anti-Aging Strategies From the Longest-Lived People in the World

Thursday, May 22nd, 2008

Recently, I interviewed Dan Buettner, whose latest book, The Blue Zones, is a veritable treasure trove of tips for living longer. Buettner is an explorer whose work for National Geographic led to the book. He investigated four parts of the world where there are more healthy centenarians than anywhere else – Sardinia, Italy; Loma Linda, CA; Okinawa, Japan; and Costa Rica’s Nicoya Peninsula. Here’s what we can learn from the folks who’ve done "anti-aging" better than anyone else on the planet.

1. Move. Longevity all-stars engage in regular, low-intensity physical activity, whether it be hiking, shepherding, gardening, walking, yoga, or something else. The data suggest that moderate, even easy, activity done on a daily basis will extend your life.
 
2. "Hara hachi bu." This Okinawan saying means "Stop eating when your stomach is 80 percent full." Clear enough? Cutting calories by a mere 20 percent will extend your life.

3. Go heavy on the plants. While readers of ETR know that higher-protein diets can be really healthy, that doesn’t rule out a diet that’s also loaded with vegetables. All of the long-lived peoples investigated by Buettner ate a plant-based diet with almost no processed foods.

4. Drink some alcohol. In Sardinia, it’s wine. In Okinawa, it’s sake. Whatever you prefer, alcohol in moderation seems to reduce both stress and inflammation. But remember that women who drink need to be getting plenty of folic acid in their diets. (Even moderate drinking raises the risk of breast cancer – but only for women who are folic acid deficient.)

5. See the big picture. Okinawans call it ikigai. Nicoyans call it plan de vida. In both cultures, the phrase translates to "why I wake up in the morning." Develop a strong sense of purpose, connection to others, and community. It’s the best anti-aging "medicine" you can find.

[Ed. Note: Dr. Jonny Bowden, a nationally known expert on weight loss, nutrition, and health, is the author of the new book The Most Effective Natural Cures on Earth. For more information, go to www.jonnybowden.com. To read more of his articles on healthy living in ETR's natural health e-letter, click here.]

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Getting Smarter

Thursday, May 22nd, 2008

Are you interested in getting smarter?

I think most people are. However, I also think most people misinterpret what "getting smarter" really means… or… should mean.

Let me explain…

When most people think of increasing their brainpower, all they think about is increasing their IQ. And there are many books out there promising that if you just add a few points to your IQ, your life will improve… and improve dramatically.

Nice hook for selling books… but… I disagree with the concept. If we want to be successful in business and in life, I don’t think the goal is to have a higher IQ…

Not at all. And here’s why…

I’ve had the good fortune to meet many smart people. A few of them legitimate geniuses, with extremely high IQs. But when I sized up their accomplishments, there was much to be desired.

So if increasing your IQ doesn’t make you smarter in terms of reaching more of your goals, what will?

I think I have an answer…

For me, getting smarter in terms of reaching my goals means improving myself in certain key areas: my ability to concentrate, the speed at which I learn, my problem-solving ability, my mental endurance, the clarity of my writing, the depth of my creativity… and… my ability to remember, recall, and put what I learn into practice.

Does this resonate with you? Would improving yourself in these key areas help you reach more of your goals?

Most definitely.

Richard Restak, a renowned neuropsychiatrist and author of Mozart’s Brain and the Fighter Pilot: Unleashing Your Brain’s Potential, referred to the above as "goals of cognition." Your mind’s ability to attend, identify, and act. And the latest research shows you can significantly improve your cognition with training.

You see, even though the brain is an organ, in many ways it behaves like a muscle. What I mean is, your brain, unlike other physical organs, doesn’t wear out. In fact, the more you use your brain, and the more you challenge it, the stronger it gets.

The flip side is also true. If your brain isn’t stimulated consistently, it atrophies. "Use it or lose it" is the operating principle behind your brain’s performance as well as your physical body’s performance.

All right, so let’s say you’re on board. You want to "get smarter." You want your brain to get stronger and better instead of weaker and slower. What do you need to do? You need to do some brain training.

You train your brain the same way as you train your body – with both direct training and cross-training.

Direct training is where you focus "directly" on improving the specific skills you are after.

And cross-training is where you engage in activities that improve the skills you are after… "indirectly."

A simple example: If a baseball player wants to increase his bat speed, he would engage in both batting practice (direct training)… and weight training (cross-training).

A more elaborate example…

Let’s say you want to increase the effectiveness of the marketing copy you write.

First, you identify and work on the mechanics involved in copywriting. You do this by reading "how to" books, taking courses, going to seminars… and so on. These are all direct-training activities.

Next, you identify cross-training opportunities – things like reading popular novels. And not just reading them for entertainment… but for form, word choice, etc. Watching hit movies. Also not just for entertainment… but to learn about pacing, action, and the things that motivate different kinds of people.

Okay. Now that I’ve got you thinking in this direction, I’m sure you’ll be able to come up with your own brain-training program to improve your cognitive skills and give a "bump" to your chances of success in reaching your specific goals. You simply need to:

  • Identify both direct and cross-training activities that will help you… and…
  • Engage in them, frequently… preferably daily, at the same time every day.

[Ed. Note: Rich Schefren, known in marketing circles as "The Guru's Guru," coaches many of today's top Internet experts. He's an online business exploder whose clients rake in more than $500 million every year - piling up more than $1 billion in sales every two years. To learn how to streamline your business while skyrocketing profits, visit his blog here.

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Getting Smarter

Thursday, May 22nd, 2008

Issue #2362

  • WEALTHY: Are you getting what you pay for when you invest? (Andrew Gordon)
  • HEALTHY: 5 ways to live into your 100s (Dr. Jonny Bowden)
  • WISE: Epictetus on education

ALSO IN THIS ISSUE:

  • A simple workout for your mind (Rich Schefren)
  • The difference between good and excellent service (Suzanne Richardson)
  • It’s Fun to Know… about the original chocoholics
  • Add "desultory" to your vocabulary

(more…)

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Word to the Wise: Desultory

Thursday, May 22nd, 2008

"Desultory" (DES-ul-tor-ee) – from the Latin for "to leap" – means fitful, randomly jumping from one thing to another.

Example (as used by Scott Eyman in a Palm Beach Post review of The Post-War Dream by Mitch Cullin): "We are introduced to Hollis in his bathrobe, a 68-year-old man in good health desultorily reading a Tom Clancy novel, a bottle of Glenfiddich at his side."

[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.]

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