Issue #2374
- WEALTHY: 3 rules for successful stock investing (Michael Masterson)
- HEALTHY: A fragrant guard against colon cancer (Kelley Herring)
- WISE: Connie Mack on baseball
ALSO IN THIS ISSUE:
- Give your marketing multiple chances to score (Bob Bly)
- Most people don’t know about this… (Judith Strauss)
- It’s Fun to Know… about real names (Suzanne Richardson)
- Add "disquisition" to your vocabulary
== Highly Recommended ==
He’d Have Called Them Crazy – Or Worse!
With the Internet, it’s now possible to spend no more than a few dollars, write a couple of very basic ads, and have instant access to millions of potential customers all in a matter of minutes.
If anyone had told Jim Sheridan he could bank thousands in just 24 hours… without any product of his own… without spending a penny on getting it or promoting it, he’d have justifiably said they were nuts.
But Jim made a decision that he would overcome his skeptical nature and give it a go. Boy, is he glad he did! That one deal alone banked him $187,296 in one day.
Take a look at how Jim brought in over $187,000 in a single day!
-Charlie Byrne
The Virtuous Investor
If you want to be successful as a stock investor, you must have these three virtues:
1. Modesty. You don’t need to be the best and most successful investor in the world. If you set modest objectives – 10 percent to 15 percent – you will have a good chance of reaching them.
2. Humility. You don’t know enough to predict the future. Admit it by setting stop-loss points and sticking to them.
3. Consistency. Umpteen studies have shown that the most important factor in stock market success is the consistent application of a rational system. Which system you follow is not as important as your consistency in adhering to it.
A 10 percent to 15 percent return on your investment may not make you wealthy overnight. But if you stick to these three virtues – and don’t abandon them when you hear an irresistible story about a "can’t lose" stock – chances are you will do much better than your friends and colleagues.
[Ed. Note: The above was excerpted from Michael Masterson's New York Times best-seller Automatic Wealth for Grads ... and Anyone Else Just Starting Out.
If you know a young person who's going to graduate this year... or if one of your 2008 goals is to increase your income… pick up a copy. Learn more about this and all of Michael's books at his website.]
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"No matter what I talk about, I always get back to baseball."
Connie Mack
Why Direct Marketing Is Like Baseball
By Bob Bly
I heard on the radio a few weeks ago that the Florida Marlins, with 23 wins and 14 losses, has the best record in Major League baseball today.
But that means the best-performing team in professional baseball loses four out of every 10 games it plays.
And remember: That’s the best record in baseball.
What’s ironic is that businesspeople who accept this statistical truth about baseball without a second thought… go bonkers when even one of their marketing programs fails.
Experienced direct marketers know – and expect – a percentage of their test campaigns to under-perform the current control, or even lose money. They accept this fact without despair, because they know that if one test mailing in every two… or every three… or even every five is a winner, they can make a lot of money.
Inexperienced direct marketers don’t get this.
As a result, countless small businesses test direct marketing once every few years. And if they don’t hit a home run the first time at bat, loudly proclaim "Direct mail doesn’t work"… and abandon it.
If you’re a business owner or marketing professional, is there a better way to get direct marketing to work for you? Yes. And it’s nothing more than doing more testing than you do right now.
Let’s say you are planning to mail 5,000 postcards to drive people to a Web page.
You just can’t decide which of two headlines you like: "Tastes Great" or "Less Filling." If you randomly pick just one, your risk of going with the wrong sales appeal – and, therefore, having your postcard mailing bomb – is 50 percent.
A much better approach is to split the postcard mailing into two batches, half with the headline "Tastes Great" and the other half with "Less Filling." Each drives traffic to a different URL so you can measure the click-through and conversion rates. Then you see which one generates the most leads.
Especially on the Web, testing different variations of a promotion is relatively quick, easy, and inexpensive. So if you create a long-copy landing page to sell a product on the Internet and your conversion rate is poor, don’t give up on the product. Instead, test different headlines, graphics, pricing, offers, premiums, subheads, and copy leads.
You’ll notice that one headline pulls slightly better than another… or one price generates 40 percent more orders.
Start incorporating the winners of those tests into your landing page and, in no time flat, you can take the promotion from being marginally profitable to being a real winner – all courtesy of testing.
I am amazed at how many marketers, both large and small, invest significant sums in developing products and promotions – both online and offline – and then just promote each of those products with a single promotion. With no testing of any kind.
If you are doing that, you are essentially hoping you’ll get a hit with only one chance at bat. In baseball, a .250 hitter who gets only one at-bat has a one in four chance of getting on base.
For product launches, the success rate is often as little as 10 percent – which means that a single promotion has only a one in 10 chance of making money. In other words, the odds are 10:1 against winning with a one-shot promotion.
By testing different elements of your promotion, you can significantly tip those odds in your favor.
Giving your marketing multiple chances to score a winner through testing is a much more sensible way to go, don’t you agree?
[Ed. Note: Testing is a major part of direct marketing. But it's not the only technique you need to know to increase your sales. For the inside scoop on a $40 billion a year industry from two marketing masters, continue reading here.
Make sure you check out the Direct Response Letter, Bob Bly's monthly e-newsletter. Bob's a freelance copywriter, the author of over 70 books, and a marketing expert - so you're sure to find useful strategies for improving your campaigns. Sign up today and get over $100 in free bonuses.
Correction: In the 6/5 issue of Early to Rise, we mistakenly calculated that the baseball team referenced loses six out of every ten games. In fact, the team loses four out of every ten games.]
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== Highly Recommended ==
Learn how to "Hotwire" the Internet for fast and furious profits…
These days, it seems like everyone’s getting bogged down with all the technical jargon and being intimidated by the internet… and rightly so, because doing things the way all the ‘experts’ say is a real headache!
This system assumes you have absolutely no previous knowledge about making money from the internet nor any previous knowledge about computers.
Discover that much needed extra bit of breathing space and peace of mind an extra grand or two here and there can give you today. Read about it here.
Reader Feedback: "The 90 percent rule will set me free!"
"Until I began hanging around and reading Michael Masterson & Team’s ETR newsletter, I was a Ready, Aim, Fire kind of guy. My dad brought me up to ‘Plan my work, and work my plan.’ Problem, was I spent at least as much time planning as I did working it.
"Think about that for a moment. If I was planning a project (or goal) that was going to take six months to achieve, I would spend three months planning, and then slowly get moving on my plan. (If the next best thing did not come along and change the plan, which meant more time on the planning stage.)
" I believe that procrastination and over-planning comes from too much time planning (Aiming) without actually doing, because we have this innate belief that it must be perfect before we can begin.
"THANKS to Bob Cox for the 90 percent rule! It gives us the freedom to get a plan at least 90 percent correct, and then FIRE . We can then Aim as we progress along our plan. Procrastination is now gone, because we have given ourselves the freedom to take action. We do not need to get stuck waiting to get Ready!
"Before I read Bob’s 90 percent rule, I had an overwhelming need to be perfect. How can I start if it is not perfect? How can I begin if I do not know everything about it? What will ‘they think’ if this is not 100 percent? What a great excuse not to get started.
"This rule will set me free!
If you are stuck or not moving toward your goal, stop the planning (READY) immediately and take the first step (FIRE) of action and then the next. And keep going, measuring (AIMING) and moving toward that goal. Sure enough, it will begin to show up on your horizon."
Bob Newhart
Raleigh, NC
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Living Rich: Cheap Thrills
Airport security wasn’t always as tight as it is today – and that extended to the airlines’ VIP lounges. When I was a senior in high school, a small group of us discovered Delta’s Crown Room at O’Hare Airport. And every now and then, we would smile our way in to enjoy a free night out. Comfy chairs. Snacks and drinks. A big-screen (for the time) TV. And excellent people-watching opportunities.
It felt a little like being a guest at a rich uncle’s private club.
There are plenty of well-publicized ways to have a good time without spending any money. Strolling through street fairs. Browsing in bookstores and libraries. Listening to free concerts. But it’s the stuff you stumble across almost by accident that gives the most pleasure. The 99-cent breakfast special I took advantage of all summer long at a Florida beachfront cafe. (Okay. So it was served on a paper plate with a plastic fork. Who cares?) Hanging over the fence to watch polo ponies being exercised. Free preview performances by a semi-professional neighborhood drama club.
The fact that things like this cost nothing – or almost nothing – only adds to the enjoyment. But the real thrill is that most people don’t know about them, making you feel like a member of an elite "in" crowd.
I’ll bet you’ve had some "cheap thrills" of your own. Things you’ve found by word of mouth… or by checking out bulletin boards at local coffee shops… or just by being in the right place at the right time. And maybe you’d like to share one of your inside secrets with your fellow ETR readers – give them an idea to help them save money while doing something that most people would never even think of.
Great! Do it! Share with all of us in the comments section on our website. And when you do, you might want to stick around for a few extra minutes to see if you can pick up some new ideas yourself.
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Cloves Against Cancer
You may want to think again before you say "Hold the garlic." Especially if you’re concerned about colon cancer.
In a review of research conducted over the past 10 years, eight studies showing garlic’s cancer-fighting power were identified.
- In one clinical trial, participants with colorectal cancer (CRC) who took aged garlic extract saw a 29 percent decrease in the number and size of their colon tumors.
- In five of the studies, those who ate raw or cooked garlic had a lower risk for CRC than those consuming none.
- In two studies, those who had eaten raw or cooked garlic had a lower risk for cancer of the distal or sigmoid colon compared with those not eating garlic.
The reviewers concluded that garlic eaters have 30 percent less risk for CRC than non-garlic eaters.
You don’t have to look far for good ways to enjoy the "stinking rose." Mince and whirl into salad dressing, chop and toss with steamed veggies and olive oil, or roast and spread on crusty, whole-grain bread to help guard against cancer… deliciously!
[Ed. Note: Sometimes making a meal healthy is as simple as using healthful ingredients like garlic. If you're interested in learning more about how to live a healthier, more energetic, longer life... (Continue reading here.)
And be sure to catch up with Kelley at her website, www.HealingGourmet.com.]
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It’s Fun to Know: What’s Your Real Name?
"I thought your wife’s name was Peggy," Jason said to Charlie.
"That’s what we call her," Charlie said. "But it’s a nickname for Margaret."
Lots of nicknames seem unrelated to their origins. You may know some of the more common ones – Bob for Robert and Jim for James. Here are a few less-well-known examples:
- Jack – a nickname for John
- Molly – a nickname for Mary
- Hank – a nickname for Henry
- Shelley – a nickname for Michelle or Rachel
- Kit – a nickname for Christopher
- Sally – a nickname for Sarah
- Lisa – a nickname for Elizabeth
- Teddy – a nickname for Edward
- Buffy – a nickname for Elizabeth
- Bud – a nickname for Edward
- Libby – a nickname for Elizabeth
- Chip – a nickname for Charles
- Dottie – a nickname for Dorothy
- Trey – a nickname for the third person in a family with the same name
- Sandy – a nickname for Alexandra, Alexander, or Cassandra
- Pip – a nickname for Philip
- Pat/Patty – a nickname for Martha or Matilda
(Source: BabyNamer.com)
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== Highly Recommended ==
Take Charge of Your Future
You don’t have much spare time… you’re not exactly rolling in the bucks… and you’re no Bill Gates when it comes to technology.
We’ve heard you… and that’s why we asked Marc Charles to be our “advance scout” for profit opportunities that you can run from a kitchen table, your desktop, or out on the road.
They’ve got to be inexpensive and easy to start, without a lot of red tape or technical know-how, and still have great income potential.
There’s a reason they call this guy “The King of Business Opportunities”…why not take a look at what he’s got for you?
Word to the Wise: Disquisition
A "disquisition" (dis-kwuh-ZISH-un) – from the Latin for "investigate" – is a formal discourse in which a subject is examined and discussed.
Example (as used by David Gibson in a New York Times review of What the Gospels Meant by Garry Wills): "Garry Wills is not only one of the country’s most distinguished intellectuals, but also one of its most provocative… . Add to this his regular disquisitions on the church… and you have a combustible mix that can delight, infuriate, or illuminate, usually all three."
[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.]
Copyright ETR, LLC, 2008
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A hike in the woods is my cheap thrill
Many long ages ago when I was traveling frequently as a consultant, I discovered there are five good cheap things that are always within walking distance of any four-year residential (that is, with dorms) college campus:
1. There will be at least one warm, friendly coffee house where they don’t mind if you “rent a table” with a couple cheap purchases and work all afternoon.
2. At least one really good organic restaurant/market.
3. At least one good pizza place with cheap beer; if you don’t like student uproar (and I don’t), just don’t go there after 8 pm or so.
4. Some good but cheap hotel or B&B (colleges have a lot of guests and have to put them somewhere; families visit colleges constantly. Just don’t plan on getting a room if there’s a big game or during the first or last week of a term).
5. Cheap entertainment! I think of it as minor-league baseball; a few of the actors, musicians, or artists are just a couple years from the pros, most are competent but not going any further. And ticket prices are amazingly low. I guess if you’re a sports fan (I’ve never been) minor college sports is another possibility.
Particularly if you’re going to be stranded out of town over a weekend, and need to do work rather than get away, staying near a college or university can bring you a lot of cheap amenities. And there are a surprising number of small residential schools (better atmosphere than the big state schools) scattered everywhere; check the yellow pages of the city you’re going to, or just google college OR university “four year” dormitory OR residential along with the city you’ll be going to. Then use the various finder sites to look for businesses nearby.
Hi Bob,
I find your arithmetic appalling. If you have 23 wins and 14 losses it means you played 23+14= 37 Games. Therefore your percentage of wins is 23/37 = 62%. So “the best-performing team in professional baseball DOESN’T loses six out of every 10 games it plays. It loses four out of every 10 games.
Regards,
Maurice
Maurice, chill out my brother…..
I wouldn’t say his math is “appalling”. That word is disempowering to him, and even more so, to you.
I would say his math has a mistake and can easily be corrected with the equation you provided.
- Just my 2 cents b/c how we use our words reflect much about our own state.
Respectfully,
Al
Regarding the comment about local musicians who are fun to hear but not famous yet — one way to find these is by going to jams. These occur at bluegrass and folk festivals, but most towns and cities have regular jams as well. These are gatherings where amateur musicians get together, often in a public place, at a regular time, and play together. It’s free to participate, which is way fun if you play at all, and a great place to learn. It’s also free to go an listen. To find a jam, search Google for “bluegrass” or “folk” resources in your area, or try this site: http://www.folkjam.org/ . Another fun possibly for free entertainment is the open mike night. Search your local newspaper or website music listings!
When I travelled and lived in Germany I used their “Happy Weekend” train ticket (Schönes-Wochenende-Ticket) all the time. It allowed up to 5 people unlimited travel for one day on a weekend on any local train for 35 Euro – across the country.
It let me connect with the local population on the trains (students, families, and others wanting a different look at the countryside). Sometimes it was slow, but sometimes it gave unbelievable experiences (like sitting in a train car with everyone singing along with a guy playing a guitar, sharing food and drinks).
So if you travel to Germany – your Eurorail passes are a great thing for long distance, but if you want local flavour for cheap, I recommend this ticket for short weekend excursions.
Maurice & Al,
I came to the site to make the same correction, but I see it’s been fixed.
Cheap entertainment: If there are commercial art galleries and you are interested in art, drop by for a pleasant browse. Someone mentioned sports, and there usually Little League games of one sort of another where the admission is free or by donation. Where I live, you can get a one-day bus pass for less than $10 which lets you travel over the whole community. Watch for school concerts; some of the high school music classes are excellent and admission is often by donation. Same for colleges with music programs.
Michael
You need a lot more than those three attributes for success. And a anyone that sets an objective of 10%-15% is not being very modest right now (unless we enter hyper-inflation). Modest is more like 8%.
I agree with you other two points but there are many other aspects.
Trust but Verify
There are no shortcuts
Develop a system (and be consistent)
Delegation equals abdication
I could go on….
This forum is a fraud!
For a cheap thrill, I cannot beat The Bagdad Pub’s outdoor cafe on Portland’s Hawthorne Boulevard on a late Saturday afternoon!
Great ale-at happy hour prices-and a chance to witness a procession of some of the most unique characters alive! (Of course, they don’t know they’re in my play.) Our SE Portland neighborhood is one of the last bastions of downright weirdness, unconquered by chain franchises, both populated and visited by the hip, the not-so-hip, the caring, and the uncaring…and their dogs!
For the price of a couple of pints, I am the spectator on a world that the best writer could never invent, for two amazing hours…then it’s home to my local public TV station’s broadcast of The Lawrence Welk Show.
And I’m not kidding!
One of my favourite outings with my kids (who are 4 and 6) is to go down to our local markets. They play on the playground equipment while I sit down with my folder and pen on the nearby chair and write my fiction work. Then after a while we all go and look at the “dead fish”. This is the local fishmonger where all manner of sea creature is available. There’s always new and interesting creatures – sometimes massive fish I’ve never heard of before that are larger than a man! We then go to the pet shop and watch the “live fish” before going home. It costs nothing, and the kids love it.
There is nothing mysterious about garlic, it contains oxalic acid which is in all WEED class vegetation. All weeds contain OXALIC ACID which
is as strong as any acids used in chemo therapy today. I call it God’s chemotherapy because it prevents abnormal cells from developing in blood and kills radical(cancer)cells without harming normal cells. The US government agrees with me in that I have been Issued 3(three) US Patents.
You can read about them on coljoe.com and there is a link to coljoe.net which contains confirming evidence. If you want more let me know.
Relax on the beach and watch the seagulls remembering Jonathan Livingston.