Issue #2407

• WEALTHY: A surprising similarity between doctors and real estate investors (Justin Ford)
• HEALTHY: Should you eat meat? (Kelley Herring)
• WISE: William James on taking time off

ALSO IN THIS ISSUE:

• Why you should take a 4- to 6-week vacation (Michael Masterson)
• Don’t forget to tell your customers this (Suzanne Richardson)
• It’s Good to Know … about a quick and easy e-mail backup system
• Add "ablution" to your vocabulary

== Advertisement ==

Revealing the Mystery Behind Stock Options

Never before has success with stock options been so easy.

The market "pros" love them… the gurus brag about them… and today you can start raking in incredible gains by safely playing stock options for huge wins! Get the advantage the pros have had for years…

Learn how to make options work for you, with less risk and less work, right here.  

The Golden Rule of Managing Investors’ Capital

By Justin Ford

One of the first precepts students learn in medical school is primum non nocere: "First, do no harm." Similarly, my first order of business in real estate is: Never lose my investors a single dollar.

My goal is to keep that true whether I invest for another 10 years or another 50. So I work diligently to make sure my interests are aligned with those of my investors. That means structuring deals where the only way for me to make a profit is by making profits for them.

By putting your investors first when you structure your deals, you’ll never lack funds for the good deals you find – because your investors will think of you first whenever they look to put more of their money to work.

[Ed. Note: The economy stinks - but it's a buyer's market. And once you discover how to find the best deals in the best markets, you can make an absolute fortune - for yourself and your investors. Real estate expert Justin Ford can show you exactly how to do that, no matter what condition your local market is in.]

Click to comment on this article.

 "Every man who possibly can should force himself to a holiday of a full month in a year, whether he feels like taking it or not."

William James

The Right Way to Take a Working Vacation

By Michael Masterson

You wake up at 6:30, refreshed after a good sleep, and look out your hotel window at Kensington Gardens, already lit up with sunlight. Summer days in England, you remember, are very long.

"So much the better," you think, for it’s going to be a good day. You throw on sweats, take the elevator down to the small lobby of the Milestone Hotel. The receptionist and concierge wish you a bright "Good morning." Outside in the shade, the air is bracingly cool. But across the street in the park, you are warm in the morning sun. Walking along the pond, you feel glad to be in London.

At 7:00, you are having breakfast in the hotel restaurant. Twenty minutes later, you are in a taxi passing Westminster Abbey on your way to work. "I’ve got to see that again," you remind yourself. At 7:30, you are sitting at your desk in the temporary office they’ve set up for you. Your view from the seventh floor of the Sea Containers House overlooks the Thames.

For the next four hours, you help run this business. There are meetings to attend, interviews to conduct, memos to write and read. It is an ordinary working day in some respects, but it’s more intense and is finished before noon. At 11:30, you are exercising. Ninety minutes later, you are having lunch in Wagamama’s, a trendy Asian restaurant near your hotel.

The afternoon is devoted to fun: sightseeing, shopping, gallery hunting. You return to the hotel at 6:00 for a sauna or a nap, and then dress for dinner at a local restaurant that the concierge has recommended. You enjoy Prosecco with your first course (a yellow bean salad), Bordeaux with your second course (a grass-fed steak), and a Muscat with dessert (berries and cream). Walking home, passing white stone townhouses that you guess must be worth five to 10 million dollars apiece, you enjoy a small Tuscanella cigar.

By 10:00, you are comfortably settled in your bed, a good book in hand, looking forward to another amazing day.

Welcome to the four-hour workday.

What I’ve just described is more or less the life I have been living for about a week now. And it’s the life I hope to continue living for five more weeks this summer.

Last year, I spent the month of June in Chicago, writing Ready, Fire, Aim in the morning and touring the city with K in the afternoon. It worked out great – both in terms of the amount of work I got done and the amount of fun K and I had. So this year, I am extending my "working vacation" to six weeks.

It’s a nice schedule. But I’m not fooling myself. It’s not something I could have done years ago, when my business interests needed more of my attention. Nor is it something I can do now all year round. But for six (maybe eight?) weeks a year, yes.

You can do it too – enjoy a working vacation of half-days. The idea is that instead of taking a two- or three-week vacation without work, take a four- to six-week vacation working just four hours a day.

"A four-hour workday," you are thinking. "Wasn’t there a book published recently on that subject? Didn’t I read about it in ETR?"

Yes, there was a book published called Work a Four-Hour Day.  It was published years ago. I have it in my library.

But that’s not the one you are thinking of. You are thinking of a book called The 4-Hour Workweek, by Tim Ferriss. Ferriss’s book has been on the best-seller lists for months. And it will likely stay there for some time to come.

The book’s success is a tribute to his great skill at social media advertising. (MaryEllen Tribby and I take a look at what he did in Chapter 4 of our soon-to-be-published book Changing the Channel: 12 Easy Ways to Make Extra Millions for Your Business.) But it is also due to its title: The idea that you can run a profitable business working just four hours a week is very tempting. Who wouldn’t want to do that?

In the book, Ferriss says he managed to reduce his workweek to four hours by using freelance executives and services linked together by the Internet. I only half-believe him. I believe he was able to keep his business going by working only a few hours a week while he was traveling to Asia. But when he came back home, I’ll bet his working hours shot way up – maybe even into the 60- to 80-hour workweeks that are normal for successful entrepreneurs.

Ferriss admits that spending so little time on his business when he was away created some problems – including customer service problems – that he had to straighten out when he got back. That’s not a business practice you want to perpetuate. Good service means good service all the time – which is what you have to provide if you want to develop a multimillion-dollar business.

Tim Ferriss’s four-hour workweek is an exaggeration. But it’s a useful exaggeration, because it emphasizes a welcome fact: that you don’t have to work 60 to 80 hours a week, 50 weeks a year, to have a good business. You can take extended vacations. And during those vacations, you can work much less than you do when you are home.

But I don’t think you can get away with just four hours a week. I’m happy with four hours a day.
 
I recommend The 4-Hour Workweek because it’s full of the kind of good sensible advice you can get only from people who have succeeded by doing what they’re telling you to do – though I doubt Ferriss has been able to live his dream since the debut of his book. While it’s true that you can put your business on remote control when it is small and stagnant – and if you have very good people helping you run it – once it starts growing, the way Ferriss’s business must be growing, you can’t possibly neglect it benignly. And make no mistake about it, working only four hours a week is benign neglect.

Growing businesses create new and challenging problems for the entrepreneur. These are not the sort of problems that can be delegated to the troops. The founding father must get involved at some level. And if the business is growing quickly, this demand alone will consume more than four hours a week.

If you want to grow your business – and enjoy the benefits of a growing business – don’t set your heart to the dream of the four-hour workweek. It’s much more realistic to assume you’ll be working 60 to 80 hours a week. That’s how much time Bill Bonner works. And MaryEllen Tribby. And Brian Tracy. And Charlie Byrne. And Jay Abraham. And just about every expert whose advice you read in ETR.

But once you have hired a few superstars to help you run your business, you can start working on reducing your hours from 80 to 60 and then to 40. And you can start extending your vacations from zero to two weeks to four and to eight, while working four-hour days like I’m doing now.

I like and recommend the four-hour workday extended vacation. I like it better – much better – than a shorter vacation where I’m doing nothing. Extended, half-day working vacations offer the following benefits:

• You don’t have to worry about anything really bad happening to your business while you are on vacation.

• For four hours a day, you focus on the most important, most rewarding business work you do.

• You give your superstars a chance to upgrade their skills and build their confidence (which makes it easier for you to take another, possibly longer, extended vacation next year).

• If you are vacationing with a friend or spouse, you give them the chance to do their thing while you are doing yours.

• You never feel guilty about being on vacation.

It helps, of course, to have an international business like I have, with offices in top vacation spots like Paris and London and Buenos Aires. But even if your business is based entirely in the U.S., you can still take an extended working vacation somewhere else – in Europe or the Caribbean, for example – as long as the place you choose has high-speed Internet access, which is almost universal today.

Here’s all you have to do:

• Schedule the time. If you plan to take two weeks of workless vacation, schedule four weeks of half-days.

• Identify your priorities. To stay on top of the most important aspects of your business, analyze how you currently spend your time and identify the tasks that have the biggest long-term effect on profitability. Generally speaking, 20 percent of the work you do will create 80 percent of the long-term profits. Figure out what those tasks are. During your vacation, focus on them.

• Identify your time wasters. While you are identifying your most productive tasks, identify your biggest time wasters. If you’re like me, most of them have to do with e-mail. So, well before you leave, let everyone you work with know that you’ll be on vacation – and ask them to e-mail you only if absolutely necessary. (You’ll be amazed by how many questions and concerns people can handle on their own if you give them a chance – which you should be doing anyway.)

• Stick to your schedule. You’ll be tempted to work more than four hours a day as demands for your time come in. Resist it. A vacation that involves six- or eight-hour workdays is unfair to your vacationing partner and not much fun at all. The best way I’ve found to stick with my schedule is to get to work before everybody else so I have some time alone (which is what I’m doing here in London) and schedule something (like my 11:30 Jiu Jitsu workout) that forces me to leave on time.

So here’s something you can do today … something fun over a glass of wine this evening. Get out an atlas or go online … and start dreaming.

For inspiration, here are a few ideas from the folks here at ETR:

Jason Holland, ETR’s Editorial Assistant, recommends Costa Rica, the Caribbean, and Sevilla (southern Spain). Prince Edward Island and Tokyo are favorites of Sharika Kellogg, ETR’s Customer Service Manager.

Suzanne Richardson, ETR’s Managing Editor, is wild about Berlin, Stockholm, and Warsaw. "Warsaw is a surprisingly beautiful city," she says. "And the history and spirit of resilience you encounter around every corner makes the whole city shine." If you prefer to stay in the States, she suggests the Swan Valley in Montana.

ETR’s Associate Publisher, Charlie Byrne, likes to stay state-side. He says, "Since I live in Florida, it’s nice to escape the intense heat in the summer. I love heading up to New England … in particular, the coast of Maine. While my friends are suffering in swamp-like conditions down south, I’m enjoying cool ocean breezes, brisk walks amidst the tall pine trees, and romantic foggy evenings in front of the fireplace. And that’s in the middle of July! The peace and quiet (and the 4:30 a.m. dawns!) provide an ideal environment for putting in four hours or so of work in the morning and still enjoying the rest of the day."

You may come up with an altogether different idea that’s right for you. Just take that mental tour of the world this evening – and then let us know where you’ll be spending your first working vacation…

[Ed. Note: When you have an Internet business, you truly can work from anywhere in the world. Setting up a fully functioning business is easier than you may think. Get step-by-step guidance - and secrets to making your business grow - from ETR's marketing and business-building experts. Learn more here.]

Click to comment on this article.

== Highly Recommended ==

Could This Be the World’s Most Perfect Online Business?

I’ve found what must be one of the world’s most perfect online businesses.  Here’s why I think so…

For just a few hours of work, you have a genuine shot at setting up an automatic income stream where money flows into your bank account every month. Set up as many income streams as you want. You don’t need any experience. You don’t need much money. You don’t need your own product or existing business.

Learn all about this new program, called Instant Internet Income. It’s backed by a guarantee so it must do exactly what I promise, no risk to you. Click here and get started today!

Your Customers Won’t Know What They’re Getting Unless You Tell Them

By Suzanne Richardson

You aim for top-notch service. And you always put your customer first. But if you’re not reminding your customer of exactly what you’re doing for her, your hard work could be going unnoticed.

This rule applies even if the "service" you provide is automatic.

Take Zappos, for instance, a company both Charlie Byrne and I have written about before. Every time I’ve ordered from them, I’ve gotten free next-day shipping – even though I chose the 4- to 5-day shipping option. Do they give free next-day shipping to every customer? I think so. But they sent me a little e-mail making this service sound like an exclusive little favor they were doing just for me:

"Although you originally ordered Standard (4 to 5 business days) shipping and handling, we have given your order special priority processing in our warehouse and are upgrading the shipping and delivery time frame for your order. Your order will ship out today and be given a special priority shipping status so that you can receive your order even faster than we originally promised!

"Please note that this is being done at no additional cost to you. It is simply our way of saying thank you for being our customer."

If you aren’t telling your customers what you’re doing for them, you should start. For one thing, it makes your customer feel good, special, and pampered. For another, it reminds them of just how much work you’re doing for them. Your takeaway? Satisfied and loyal customers who will shop with you again and again.

[Ed. Note: Remember - it's easier to make additional sales to customers you already have than it is to get new customers. So satisfying them should be at the top of your priority list. Learn how to give them what they want - and make sales at the same time - with ETR's comprehensive business-building program. Get all the insider tricks to making sales right here.]

Click to comment on this article.

Meat: Clean, Lean, and Green

By Kelley Herring

Should I eat meat? At some point, just about everyone asks themselves that question. As you know from reading ETR, we strongly believe that the answer is yes – because meat is an essential part of a healthy, fat-burning diet.

When deciding how meat will fit on your family’s plate, consider these four factors:

1. Type. Fresh meat from your grocer’s organic section is quite different from meat that’s been commercially prepared, processed, and preserved. The meat in frozen or canned "entrees" and the slimy cold cuts stacked onto a sandwich at your local sub shop is what I’m referring to here. Avoid those mystery meats and opt for fresh, organic, "clean" meat that’s free of harmful additives.

2. Amount. When I prepare meat, it is treated as a flavor-rich accompaniment, not a main dish. The meat perfectly complements the stand-out seasonal veggies and low-glycemic carbs featured on our plate du jour. I serve about three ounces of meat (about the size of a deck of cards) per person – and no one ever complains about the "small portion."

3. Preparation. Treat your meat right! Muscle meats form dangerous carcinogens called heterocyclic amines (HCAs) when cooked at high temperatures (grilling or broiling). Instead, opt for slow roasting or simmering. Marinating beforehand is another good way to prevent the formation of cancer-causing HCAs.

4. Farming Methods. It’s absolutely essential to choose "green" meats free of antibiotics, hormones, and pesticides. These compounds are powerful endocrine disruptors in our food supply – and even "cutting back" does not safeguard against their effects. It’s also important to choose grass-fed beef, which is leaner and provides more beneficial omega-3s and more vitamin A than its grain-fattened counterparts.

By following these guidelines, you will be eating less meat and getting more of what you want – clean, lean, and green protein.

[Ed. Note: A balanced diet is part of a healthy lifestyle. And by making a few simple changes to the way you eat, you could live a longer, healthier life. Get more easy-to-implement ideas about how to improve your health from ETR's top health experts.

For simple, healthy, and delicious meals, check out Kelley Herring's website, HealingGourmet.com.]  

Click to comment on this article.

It’s Good to Know: A Quick and Easy E-Mail Backup System

You no doubt know that you should be backing up important files on your computer. But what if you don’t have access to your office’s server, a flash memory drive, or another backup system? Well, if you have two e-mail addresses (work and personal, for example), just e-mail a copy of the file to yourself. Because that file will be stored on the provider’s server, nothing that happens to your own computer will affect it.

(Source: Lifehacker)

Click to comment on this article.

== Highly Recommended ==

Fire Your Boss and Retire This Year Making Six Figures

Let me show you how to quickly start your own profit-generating business and enjoy life like never before because you are finally out of the rat race once and for all. Sooner than you think, you can have a business that has the greatest upside profit-potential, one that’s easy and enjoyable to operate and can be run from anywhere in the world…

If you’re looking for a new break and the opportunity of a lifetime, jump on this now.  

Word to the Wise: Ablution

"Ablution" (uh-BLOO-shun) – from the Latin for "to wash away" – is the act of ritually cleansing the body.

Example (as used by Joseph Brodsky in The New York Times): "In fact, writing – more exactly, composing in your head – formal poetry may be recommended in solitary confinement as a kind of therapy, alongside pushups and cold ablutions."

[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

Similar Articles:

• Slow and Low Is the Way to Go – Want to live longer… enjoying drippingly-delicious meat? It may sound too good to be true, but it’s …
• How to Use E-Mail Vacation Messages – You’re probably familiar with the idea of using an automated e-mail response to inform people that y…
• The Right Way to Take a Working Vacation – You wake up at 6:30, refreshed after a good sleep, and look out your hotel window at Kensington Gard…
• Meat: Clean, Lean, and Green – Should I eat meat? At some point, just about everyone asks themselves that question. As you know fro…
• The Big Fat Vegetarianism Lie – I’m pretty selective about what I eat. Nothing is more important to maintain good health and a slim …
• Macerate – Word to the Wise: Macerate To “macerate” (MAS-uh-rate) – from the Latin for “weaken” – is to soften …
• Only 7 Percent of E-Mails Are Worth Reading – I just returned from my family vacation. We rented a beautiful beach house on the ocean side of Fire…

This entry was posted on Monday, July 14th, 2008 at 5:10 am and is filed under Daily Issues .