Dine Like a Millionaire for Pennies on the Dollar
Issue #2423
- WEALTHY: Bad medicine for Big Pharma (Charles Delvalle)
- HEALTHY: Getting in shape after an illness or injury (Craig Ballantyne)
- WISE: Jimmy Buffett on cheeseburgers
ALSO IN THIS ISSUE:
- Powerful marketing advice from your favorite “dive” restaurant (Charlie Byrne)
- How to sit next to your sweetheart on every flight (Lori Allen)
- It’s Good to Know… about the grawlix
- Add “asperity” to your vocabulary
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Obama’s Nasty Effect on Pharmaceutical Companies
Some of the solidest opportunities in the stock market arise because of politics.
The government controls billions of dollars. That kind of power can make or break an industry. And the effect that an Obama presidency could have on pharmaceutical companies is one you should be aware of.
As you may know, Obama (and Democrats, in general) is in favor of importing generic medicines from overseas. This would not only increase the use of generics in this country, but also allow the government to negotiate lower prices with U.S. drug manufacturers for their name brands. Sounds good for us… but it’s not good for the big pharmaceutical companies.
First of all, if the use of generics increases, the big pharmaceutical companies will make fewer sales with their name brands. Second, the drug companies charge Americans up to two times more than they charge Europeans and Canadians for the same medicine. If the government negotiates lower prices for Americans, that means their profits could be cut in half. And if that happens, you can be sure their stock prices will fall as well.
So do yourself a favor and stay away from pharmaceutical companies until well after November 11.
[Ed. Note: One of the golden rules of investing is DON'T LOSE MONEY. You can keep your cash safe by following market analyst Charles Delvalle's advice to stay away from pharmaceutical companies. And you can keep your money safe AND make it grow by investing in low-risk, high-value stocks. Learn how you can pinpoint the safest stocks with the highest profit potential right here.]
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“I like mine with lettuce and tomato
Heinz 57 and french fried potatoes
Big kosher pickle and a cold draft beer
Well good God almighty which way do I steer for my
Cheeseburger in paradise”
Jimmy Buffett
Dine Like a Millionaire for Pennies on the Dollar…
(and Learn Some Valuable Marketing Secrets, Too!)
On a muggy Saturday night in Lake Worth, Florida, I carefully navigate into the narrow parking space in front of the restaurant.
On my left, a black Porsche Boxster. To the right, a new Lexus. For a moment I feel almost declasse parking here in our late-model Camry!
Peggy and I had been looking forward to this extraordinary meal all week, and, as it turned out, the wait was well worth it.
Fresh ingredients… minutely detailed preparation… and every morsel bursting with flavor.
When we finished, I picked up the receipt. “What’s the damage?” Peggy asked.
I’m sure you know that an excellent dinner for two can easily run into three figures these days. And with prices going up everywhere, it’s only getting worse.
I read the total off the bill…
“Twelve dollars and 26 cents.”
“You’ve gotta love it, eh?” Peggy exclaimed.
Tacos el Carbon sits on a busy highway in the heart of Lake Worth’s old agricultural district. The heavily Mexican immigrant population provides a steady stream of customers for this roadside truck that’s been converted into an al fresco restaurant. Diners eat on picnic tables scattered amidst potted palm trees in what used to be a parking lot. (The trees are for sale as well!) Salsa music plays non-stop over a boom box.
The view may not be much, but the food is so good, you’re just as likely to see wealthy hipsters from Palm Beach here as farm workers in rickety pickups, young couples, and families of three or four generations. The word is out. The atmosphere here is fun, lively, and, best of all, authentic. (The burrito carne asada can’t be beat.)
Let me tell you, there is something very rewarding about having a wonderful Saturday night dinner in a genuine environment - not some manufactured “ambience” - and spending less than 20 bucks to do it.
And Mexican isn’t the only great ethnic food in our area. When I get a hankering for barbeque, I could go to one of the chains - but they can’t hold a candle to Troy’s, a roadside shanty practically sitting on the railroad tracks just off Martin Luther King Blvd. in Boynton Beach. The smoked ribs, collard greens, and sweet-potato pie are without equal. Only problem is, when I get a hankering for some “Q” on the weekend, more often than not the place is either packed beyond belief or they’ve already sold out for the evening.
And then there’s Bet’s Fish Fry up in my favorite summer town of Boothbay, Maine. While not strictly “ethnic food,” Bet is a tough Downeast dame who used to be in commercial fishing. A few years ago, she opened a small seafood shack with a couple of picnic tables on a lawn. Nowadays, it’s one of the most popular places in town, and has been written up in numerous New England travel magazines and guides.
I love discovering these “poor man’s gourmet” places like Troy’s and Bet’s and Carbon. Some folks call them “shacks” or “roadside trucks” or maybe even the perhaps-too-harsh “dives.” But whatever you call them, there are some evergreen marketing principles behind the success of these very modest businesses…
A Trio of Entrepreneurial Lessons From “Dive” Restaurants
Tacos el Carbon, Troy’s BBQ, and Bet’s Fish Fry all have a few things in common that any entrepreneur can take advantage of.
First, they keep their overhead low, and their prices lower. The marketing advice Michael Masterson offered way back in ETR’s very first issue was this: “To break into a competitive market, you need either (a) a big advertising budget (to establish demand for your product) or (b) a way to sell your product/service CHEAP so word will spread on its own.”
Second, they over-deliver on their promises. Even though they are small touches, Tacos el Carbon adds a slice of avocado and fresh lime to their burritos. Troy’s throws in a complimentary corn muffin or two. And Bet’s gives you piece of fish so big that it looks like “filet of Moby Dick.”
And third, and perhaps most important, they all do one thing well - and they stick to what they know. Giving your customers too many choices can paralyze them into inaction.
Do One Thing Great and the World Will Beat a Path to Your Door
Tacos el Carbon doesn’t offer hot dogs and burgers to please the gringos.
Troy’s has no pastrami sandwiches for Uncle Sol visiting from Brooklyn.
And Bet’s menu has a grand total of two items: fried haddock and French fries. Take it or leave it. A typical scene at Bet’s goes something like this.
Dumbass Tourist: “Oh, hi there. Say, I was wondering. What do you have besides the haddock?”
Bet: “Fries.”
Dumbass Tourist: “I see. Anything else?”
Bet: “Yeah, filet mignon, but only on Sunday.” (Bet’s is closed on Sunday.)
Dumbass Tourist: “Hmmm. Okay, I’ll take a haddock and fr…”
Bet: “ORDER IN. ONE HADDOCK AND FRIES!”
Sure, these “dive” restaurants may not be for everyone. Thousands of potential customers pass by every day that they don’t target with ads or attempts at broadening their appeal. But that’s fine. Because they know that when you try to please everyone, you usually end up pleasing no one.
Additionally, when you have a strong product or service, you’ll start attracting crossover business from outside your niche. Prospects will start finding you (just like the Palm Beach elite line up in the dirt parking lot at Tacos el Carbon). You don’t have to change your USP (unique selling proposition) or your marketing message one bit.
ETR’s colleague and achievement expert Robert Ringer puts it this way: “If you try to be all things to all people, you’re likely to end up without an enthusiastic, loyal group of fans, readers, customers, or clients. Go after a specific market, and forget about the people who don’t like what you’re offering.”
Robert continues: “A relatively small but loyal following may or may not make you rich, but it definitely can ensure that you and your family will enjoy a comfortable lifestyle.”
Perhaps just like Bet, Troy, and the folks at Tacos el Carbon!
[Ed. Note: It's easy to find marketing secrets in the "real" world - if you know where to look. But why spend time searching? You can get dozens of marketing techniques from two masters of direct marketing... all in one place. Learn more here.]
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About Ready to Give Up on EVER Getting Ahead?
I don’t blame YOU. More likely to blame are the METHODS you’ve been using.
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To take advantage of this opportunity, please read on.
Traveling Together? Make Sure You Have This Code
By Lori Allen
Buying two round-the-world tickets is easy enough when you’re paying for them with a single credit card. But when I booked the round-the-world tickets for our honeymoon, I wanted to buy one ticket with my card and pay for the second one with air miles.
The end result of booking this way?
When we got to the gate, my husband and I were seated across the plane from each other… on day one of our honeymoon, mind you.
Turns out, if you pay for two separate tickets with two different payment methods, your tickets will be issued separate locator codes. And once those codes are separate, there’s nothing you can do to get them on the same record.
To ensure that you and your companion are seated together (and/or upgraded together), first and foremost try to book the tickets at the same time and pay for them together.
Now if, as in my situation, that’s not possible - perhaps because your company is paying for one ticket and you’re paying for the other - you can still call the airline and tell them to add a TCP2 code to your record.
TCP2 means To Complete a Party of 2. And while the airline computer system won’t recognize this code, your gate agent will. (It’s your fallback tactic when you can’t smile shyly and tell them you’re on your honeymoon.)
The TCP2 code might also help with upgrades, so long as both of your tickets are in the same full-fare class.
Full-fare tickets are often upgraded to first class when a flight is oversold in coach. A TCP2 code will let the gate agent know that you are traveling with someone if there is room for two upgrades.
So whenever you’re buying separate tickets, remember the TCP2 code and call your airline to see if they can add one to your record.
It’s not a miracle fix. But it can help.
[Lori Allen is the Director of AWAI's Travel Division and the author of Travel Around the World: How to Design, Book, and Enjoy the Ultimate Adventure... and Even Make It Pay for Itself. You can get a free copy of this book when you test-drive The Ultimate Travel Writer's Program.]
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The Best Way to Strengthen Your Body
Lack of strength is the number one reason for falls in the elderly, so strengthening your body is essential as you get older. Now research proves that you can gain strength and muscle at any age.
Danish scientists studied 36 patients between the ages of 60 and 86 after they’d had a single hip-replacement surgery. The subjects did three resistance-training workouts per week for 12 weeks, and increased their muscle strength by over 29 percent at both fast and slow speeds of movement. Plus, they increased the size of their slow- and fast-muscle fibers by 17 percent and 37 percent respectively.
In addition, the subjects were able to boost their stair-walking power by 35 percent. The researchers found that this was related to the increase in their fast-muscle fibers. They also found that traditional rehabilitation methods had no functional or strength benefits.
In order to work your fast-muscle fibers, you need to do challenging strength-training workouts. Using light weights that you can lift for 20 to 30 reps will not boost your fast-twitch muscle fiber strength or your power.
So, no matter what your age, make plans to meet with a personal trainer who knows how to get you stronger by using basic exercises like step-ups, squats, rows, and push-ups. Avoid any trainer who wants you to train with light weights for “toning,” as that will have no long-term effect on your health or performance.
[Ed. Note: It's never too late to start improving your health. And you can feel better, get healthier, and even live longer just by making a few simple changes to your lifestyle. Get the details here.
Fitness expert Craig Ballantyne can show you a simple, reliable fitness program that can help you lose weight and gain muscle. Learn more here.]
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It’s Good to Know: The Grawlix
Writers and cartoonists commonly use a series of symbols to indicate bad language. For example: $%#@&. Well, what do you know? That string of characters has a name: grawlix. Beetle Bailey cartoonist Mort Walker coined the word in the 1960s.
(Source: Typography.com)
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Word to the Wise: Asperity
“Asperity” (as-PARE-uh-tee) - from the Latin for “rough” - means harsh or severe.
Example (as used by Lord Berners in A Distant Prospect): “Many years later, when I was sketching in Rome, a grim-looking Englishwoman came up to me and said with some asperity, ‘I see you are painting MY view.’”
[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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