Issue #2576
ALSO IN THIS ISSUE:
I found the following “rules” in a popular book on speechmaking. It occurred to me that they are all wrong.
1. Don’t be nervous. What good does this advice do? Telling someone not to be nervous is like telling someone not to flinch when you slap him.
2. Use a podium. This is a big mistake. Using a podium will only make your presentation appear static and boring.
3. State your objective by telling them what you’re going to tell them. You need to tell them what you are going to tell them, yes. But that’s not your objective. Your objective is to give them information that they need. So tell them how your speech will help, instruct, or enlighten them. Make it clear that they will benefit from what you have to say.
4. Speak slowly. What matters in speech is articulation, not speed. Pace your speech with your enthusiasm. Pronounce each word. Be natural.
5. Tell a joke to get started. Too risky. If you feel you need to tell a joke to loosen yourself up, chances are you won’t tell it well. It’s safer and just as effective to lead with a strong, compelling statement or question.
6. Cover all bases. I’ve never been able to cover even half the bases. If you research your subject properly, if you do some serious thinking, if you prepare yourself by seeking ideas and talking to other people, you’ll have much, much more to say than you will be able to say in the time allotted. Decide, beforehand, on the most important issues and address them. Leave the lesser matters to the Q&A period, if there is one.
7. Summarize at the end. Never summarize. Summary is always boring because it is, by definition, abstract or diluted. Rather than summarize, restate your big idea in a different way. Make your last line a knock-out punch.
8. Keep control at all times. Like the “Don’t be nervous” advice, this isn’t helpful. The way to keep control is not to think about control. Think about what you are saying. Think, “I have something important to tell these people. They really need to hear it.” Focus on your ideas, not yourself.
[Ed. Note: The above was adapted from Michael Masterson's book Power and Persuasion. Pick up your copy to discover the keys to mastering the two universal rules of power and success and unlocking massive personal and professional power.]
A wise teacher once told me, “Common horse sense is not so common.” And investors seem to overlook common sense now and again.
Let’s say we stop the presses right now. We disconnect the Internet and Satellite TV, and push all of the papers and magazines on our desks into a cardboard box.
We sit at our desks in complete silence.
Without referring to any notes, commentators, or anything else – try to rely on everything you’ve learned up to this point in your life.
Now ask yourself, “Which sectors have the greatest upside potential over the next 2 to 5 years?”
Home healthcare? The Internet? Defense? E-commerce? Natural resources? Online gaming? Write down your answers and use them to begin your stock-selection process.
That’s how I start my process. I start with the sector that has the greatest upside potential – and work back from there.
Ask yourself which sectors “should” do well based on everything you know up to this point. Your answers will amaze you. Sure, you’ll be off the mark once in a while. But most of the time you’ll be right on the money.
[Ed. Note: Charles Newcastle has started 41 successful businesses in the last 3 decades. Over the years, he's befriended a group of "rogue profit scouts" who are expert at spotting as-yet-undiscovered trends and upcoming breakthrough opportunities in everything from real estate... to offshoring... to gold and precious metals... to Internet business opportunities, emerging market ventures, and much, much more. Now's your chance to get your hands on the best of these potential profit-makers - and use them to recover your recession losses. Learn how right here.]
A few weeks ago, we told you about the possibility (mind-bogglingly remote, by the way) of an asteroid crashing into Earth and wiping out civilization as we know it.
Well, scientists are at it again. A new report from the National Academy of Sciences warns that solar storms, essentially powerful magnetic forces radiating from the sun, could wreak havoc on Earth-bound telecommunications, satellites, and the power grid. The result (admittedly the worst-case scenario – they don’t want to alarm anybody) could be a breakdown of government control and mass chaos.
Solar storms happen all the time, causing minor problems. But the major effects occur during the most active phase of an 11-year cycle. Set your calendars for 2012 – astronomers expect an interesting year.
(Source: Space.com)
Yes, the humble public library is back, after years of languishing in the shadow of fancy chain bookstores with comfy chairs and overpriced coffee shops.With the recession forcing people to cut down on unnecessary expenses, libraries nationwide have reported a significant increase in visitors. Library card requests are up 27 percent in San Francisco, for example. And the Boston library has seen a 13 percent rise in visitors (37 percent for some locations). Some of these new patrons have forgone expensive home Internet service and use free time on library computers. Others can no longer afford to buy books and/or movies and have decided to borrow instead.
(Source: New York Times and Boston Globe)
If you are a non-U.S. citizen traveling to the United States for business or pleasure (maybe for an upcoming Early to Rise conference), be advised that the rules have changed. The Department of Homeland Security now requires all visitors from the 38 countries that do not require visas (including the United Kingdom, France, and Japan) to obtain authorization at least 72 hours before they travel.
You submit your application for the Electronic System for Travel Authorization (ESTA) online. The system then checks your information against law enforcement databases to determine whether you are a threat to the U.S. According to government sources, 99.6 percent of applications are approved, most of them within seconds.
For more information, go to esta.cbp.dhs.gov.
(Source: Consumerist and Department of Homeland Security)
My kids understand that I don’t give out medication easily. The use of any drug -prescription or otherwise – can mean unpleasant side effects, needless expense, and even life-threatening injury. So, to avoid all that, I prefer to protect my kids by giving them two nutritional supplements that have proven to be safe and effective at warding off illness, especially in the winter.
Both of these nutrients have proven to be non-toxic, with absolutely zero addictive properties. You can feel comfortable giving them to your kids (and taking them yourself) to boost immunity.
[Ed. Note: Shane Ellison is a two-time recipient of the prestigious Howard Hughes Medical Institute Research Grant for his research in biochemistry and physiology and is a best-selling author. He holds a master's degree in organic chemistry and has firsthand experience in drug design. Get the benefit of his knowledge and insight with his no-BS practical guide to living young naturally without dangerous, prescription drugs.
For more natural ways to avoid illness, stay healthy, and live longer, sign up for ETR's free natural health newsletter.]
Becoming a better writer could be your ticket to financial independence. It can
help you get a new business started or grow an existing business, jumpstart your side career as a copywriter, move you up the corporate ladder, establish yourself as an expert, even help you find a job.
Transforming yourself from a mediocre writer into a great writer may take time. But you can speed your progress just by following a few easy rules.
One of the most important?
Simple is best.
“Great writing is good thinking expressed clearly,” says Michael Masterson. So don’t try to complicate your writing with multiple ideas. Stick to one powerful, useful idea, and your writing will be clean, concise, and easy to understand.
[Ed. Note: How can you use your writing skills to become wealthier this year? For one thing, writing an e-mail newsletter is the perfect low-cost way to get your Internet business up and running. For more advice about creating your own e-newsletter - plus step-by-step guides to product creation, marketing, website development, and much more - join ETR's Internet Money Club. Our team of experts will walk you through everything you need to know to start a business that could earn $100,000 to $25 million a year. Space is limited, so find out now if you can still enroll in the "Class" of 2009.]
Last week, I suggested that it takes more than an idea – even if it’s a really fantastic idea – to attract potential investors. You need to prove that your idea has legs by turning it into a working model.
But then what? Once you’ve got a working model, where do you go for the money you need to turn it into a business?
In general, there are four sources of capital: venture capital firms, government agencies, commercial banks, and private investors or partners.
If you think your idea might be of interest to venture capitalists, check out the National Venture Capital Association (nvca.org). But for the average entrepreneur, venture capital isn’t a possibility. As Paul Lawrence explained in his article “Raising Capital for Small Business Ventures“:
“Yes, some venture capital firms will invest in new businesses, but such businesses are usually involved in technology or some other high-growth area. Frankly, for most small businesses, venture capital isn’t even an option. It’s rare for a small-business concept to have the kind of mammoth payoff venture capitalists look for.”
“Plus, the cost of doing business with these companies is high. It’s basic economics. Their risk is high, so their reward must also be high. Even if you were to interest a venture capital company in your business, you’d be aghast at what they’d want in terms of their ownership position.”
What about government grants? Tim Berry, author of Hurdle: The Book on Business Planning, points out that government funding agencies usually have “social” agendas. Grants and loans are available to minorities – especially minority businesses engaged in education, antidiscrimination projects, community services, fine arts, and other politically popular objectives.
You can find out if your business idea might be a candidate for government money by checking into any of the government agencies whose purpose is to stimulate entrepreneurship. The best known is the Small Business Administration.
I wouldn’t advise taking this route, though. It requires too much bending to bureaucracy. Too much artificiality. Too much red tape. Getting these loans and grants takes months (or years) of filling out forms. And there are all sorts of reporting and regulatory requirements – enough to slow down even the most patient person. Plus, government-funded business projects have an extremely high failure rate once the funding is withdrawn. That’s because they begin with an idea, not a working model. And the idea isn’t good to begin with because it is based on social policy instead of being connected to profits – which is, after all, what fuels a business.
As for getting money from a commercial bank, I can make this short: Forget about it. The only way a bank will lend you money these days is if (a) you have excellent credit and (b) you can collateralize your loan with assets. If you have good credit and tons of money, you don’t need a bank loan. You can loan yourself the money.
This brings us to the fourth and final option…
Finding a Private Investor or Partner
At first blush, private funding seems like the least likely way to go. You may not know anybody who has money. Or if you do, you may not be willing to risk damaging the relationship by mixing it with business.
Some business experts advocate hitting up friends and family. I never did that, because my personal relationships were always more valuable than my desire for money. But I did ask business acquaintances to invest with me. My relationships with them were based on money, so I didn’t think it was inappropriate.
One of my first businesses, a house painting service I started with a buddy when we were still in high school, required a very modest investment. About $400 to pay for ladders and tools. We didn’t have the money, so we got a job with a painting contractor and saved up to buy what we needed. It took six months – and during that time, we were making all sorts of good contacts. We were getting to know paint wholesalers and equipment rental providers and even future customers.
When we were ready to go off on our own, we spent a few weeks knocking on doors and offering discounted service. Before we knew it, we had all the work we could handle.
Years later, I funded an idea I had for a new publication by asking my boss if he wanted to invest in it. When he found out I had no money of my own, he took 75 percent of the deal and made me sign notes to repay him the 25 percent (about $10,000 or $15,000) that I was liable for. I was a little unhappy with the arrangement at the time – but eventually I realized he was being very generous.
Once I recognized that when it comes to funding “good ideas,” money talks, I switched strategies. I decided I’d never attempt to sell an idea again. Instead, I’d sell a working model. Nowadays, when I’m looking for capital, I wait until some version of my idea has already proven itself to be profitable. At that point, I can go to any good businessperson and show him the numbers. Sales and cash flow can persuade in a way that market research and computer charts can’t.
The Difference Between Getting a Loan and Taking On a Partner
Let’s say you have proven your idea in the marketplace with a working model. The next step is to figure out whether you want an investor or a partner.
The advantage of taking on debt (getting a loan from an investor) is that you do not give up equity in your business. It can still be 100 percent yours. The disadvantage is that you will owe the money even if the business fails.
The advantage of accepting investment capital (taking on a partner) is that you don’t have to pay the investor if your model doesn’t work out in the bigger world. A second, often overlooked, advantage is that you will have someone to bounce ideas off. (The best investors are successful people in the industry you are entering.)
In between getting a loan and taking on a partner, there’s room to play. You might be able to structure a deal that has the best of both worlds – a loan that gives the lender a limited (though significant) upside if the business takes off. To get that, you would have to make some concessions. You may have to pay back some of the loan if the business fails, for example. Or you might take, say, 50 percent of the salary the business intends to pay you and use that to pay down the loan over time.
Ultimately, the guy with the money decides what the deal is. You’ll do better negotiating your stake if you present a very exciting and trustworthy picture of the business’s potential. And that will depend on having detailed financial reports on costs and cash flow and profits, if there are any.
Prepare to Make the Pitch
Before you can contact prospective investors or partners, you need to figure out how much money you need. Come up with three scenarios: ideal, less ideal, and minimum. Of course, there will be advantages in having the ideal amount of capital – but don’t get your heart set on that. Chances are you will get option two or three. Be prepared to work with either.
In making the pitch, follow Paul Lawrence’s SIPE process – Solicit, Interest, Persuade, Execute:
1. Solicit
Begin informally. Casually ask your prospect, “If I happened to come across an interesting business opportunity, would you like to hear about it?”
It’s important to note that you’re not asking him if he would invest in a business, but if he’d like to hear about potential opportunities. Since he won’t feel that he’s being pressured, it’s more likely that he will give you a positive response.
You also immediately rule out people who have no interest in any business proposals… without putting them (or you) in an uncomfortable position.
2. Interest
Give your prospect a one-sentence description of your business. A long-winded explanation can sound like you don’t have confidence in your business idea or that you don’t really know what you’re talking about. You then follow up with an estimate of the business’s profit potential and a couple of supporting statements that provide strong reasons to believe it is viable.
3. Persuade
If the person you are pitching seems interested, set up a second meeting to present him with a written proposal.
Make it short and to the point, no more than eight pages. If you are presenting it to the right person – someone already successful in the industry – he will not need more than that.
The proposal should have two goals:
Although Paul doesn’t include this in his SIPE formula, I’d add this: Put some of your own money into the deal. Even if you haven’t got a lot, you should have something in it. As a rule, I never invest in a deal unless my partner has some “skin in the game.” The money you put into making the working model counts. But pledge some more money too.
4. Execute
Once your prospect agrees to the terms you’ve negotiated, arrange for a third meeting to sign a “deal memo” – a basic outline of your understanding. The main reason to have a deal memo is so that, in the future, there will be no debate as to what was originally agreed to. If your deal is large or complicated, you may want to have a formal contract. But in many cases, a deal memo is strong enough to be legally enforceable.
If none of the above works to get funding for your business, that tells me you didn’t begin at the beginning – by proving the validity of your idea with a working model. So go back to square one and do what you have to do. Meanwhile, I have some advice for you – a suggestion I’ve made many times in ETR. Steven Brandt, who taught small business management at the Stanford Graduate School of Business, states it this way:
“If you really can’t get your company going now, because you can’t pare it down and you can’t get it financed, then start down a path that eventually will lead you there. Work in a related business as an employee and keep your eyes open. Look for potential partners that you could work with in the future.”
[Ed Note: If you don't want to worry about funding, you CAN start a business with just a few bucks, in your spare time. Learn how to get all the details - including how to set up a website, how to create products, low-cost marketing strategies, and much more - right here.
As a special thank you to our best customers, Michael has started a VIP service in which he gives insider business-building advice usually reserved for his private clients - a twice-weekly newsletter called Ready Fire Aim: The Michael Masterson Dispatch. If you have bought an ETR product or attended a conference and are not receiving Ready Fire Aim, please let us know by sending an e-mail to Michael@ETRfeedback.com.]
Issue #2575
ALSO IN THIS ISSUE:
The main benefit of frozen convenience foods is… well, their convenience. But a stroll though the frozen food section of your supermarket is likely to leave you hungry for better options. With good reason. The freezer case is packed with dietary pitfalls that can sabotage your waistline and harm your health.
Pick up a frozen dinner and scan the long list of ingredients on the label. It’s likely to look more like a checklist for a chemistry class than the makings of a mouthwatering meal. Leave that frozen dinner in the case.
Even “natural” and organic convenience foods that have shorter ingredient lists and contain no additives and preservatives pose a dietary dilemma. Fortunately, there are plenty of pre-packaged foods that are not only convenient, they are healthy too.
In a minute, I’ll share my favorites with you. But first, you need to know what to watch out for. Here are five of the worst “red flags”:
• High-Glycemic Load. Wheat flour, rice flour, and other starchy ingredients are at the top of the ingredient list on most packaged foods. Scan down the labels, and you’ll find that many pack as much as 40 grams of carbohydrate per serving, with only a few grams of fiber. When you see that, this is your clue that you’re looking at a high-glycemic food that will spike your blood sugar, promote fat storage, and contribute to chronic disease.
• Empty Calories. At first glance, it may seem that a packaged food provides decent nutrition (e.g.,10 grams of protein, 5 grams of fat, and 5 grams of fiber per serving). But look closer at where those calories are coming from. Clean organic sources of protein? Healthy fats? Nutrient-rich veggies? Probably not. The bulk of ingredients in packaged foods are low quality and devoid of nutrients.
• “Filler” Proteins. I’ve warned you before about the many dangers of soy protein isolate, which range from anti-nutrient activity to hexane exposure. This “filler” appears in everything from pizza and pastas to burritos and baby foods. Why? Because it is inexpensive and versatile, taking on any shape or flavor the manufacturer chooses.
Don’t be duped into thinking soy protein isolate is a health food. It’s definitely not. And it is in almost every packaged ready-meal – including organic ones like Amy’s and Kashi.
• Unhealthy Fats. The label tells you that your ready-meal contains polyunsaturated fat – but it doesn’t tell you whether it is omega-6 fat or omega-3 fat. As you know from Jon Herring’s recent article “Improve Your Health in 2 Simple Steps,” omega-3 fats are critical to our health but severely lacking in the typical American diet. Omega-6 fats, on the other hand, are overly abundant and are one of the primary dietary causes of inflammation – the cornerstone of disease.
Unless the label specifically notes the omega-3 content of a packaged food, it’s safe to assume the polyunsaturated fat in it is primarily inflammation-promoting omega-6.
• Sodium. In order to get bland-tasting wheat flour, beans, and rice to taste good, manufacturers rely on salt. Too much sodium, coupled with not enough potassium in the diet, is a recipe for high blood pressure that can lead to heart attack and stroke.
To make smart food choices, all it takes is an understanding of the factors that go into making food healthy (or unhealthy) and a little time spent on planning ahead. Here are four ways to keep yourself on track.
1. Stock Up on Superfood Staples
When you keep your fridge stocked with superfood staples, healthy and delicious meals are just minutes away. And, as I’ll show you, high quality doesn’t have to mean high dollar.
All of the items listed below are available at SuperTarget, Publix, and Whole Foods Market. You may also want to look into delivery services like Wellness Grocer (wellnessgrocer.com) and DeliciousOrganics (deliciousorganics.com).
2. Save Time and Fight Cravings
When hunger strikes, it’s tough to muster the willpower to avoid that grab-and-go meal. To ensure you’ll stick to your healthy eating during a hectic workweek, do a little prep ahead of time.
I suggest you do things like boil eggs, cook shrimp, and brown grass-fed beef on the weekend. (Keep in mind that seafood is best within two days of cooking it.) Store these pre-cooked items in glass containers in the fridge, and then you can…
3. Get Healthy in a Hurry!
Once you’ve stocked up on staples and have done a little prep work, you have everything you need to make fresh, nutrient-dense, low-glycemic meals in no time flat. To get you started, here are three meals for under $4 that take less than five minutes to prepare.
Mediterranean Chicken Salad
Time: 5 minutes
Approximate Cost: $3.50
Preparation: 3 slices Organic Valley Roasted Chicken Breast over 3 cups Earthbound Farms Mixed Greens topped with 1 oz. Organic Valley Feta Cheese, 6 organic grape tomatoes, 4 kalamata olives, and 1/2 Tbsp. balsamic vinaigrette
Asian Sesame Shrimp Salad
Time: 5 minutes
Approximate Cost: $3.00
Preparation: 4 ounces pre-cooked, thawed wild shrimp tossed with 1 Tbsp. Asian Sesame Vinaigrette over 2 cups Earthbound Farms Arugula topped with 1 oz. slivered almonds
Buffalo Burrito Wraps
Time: 5 minutes
Approximate Cost: $2.50
Preparation: 4 ounces cooked Maverick Ranch Buffalo with Simply Organics taco seasoning in 3 lettuce wraps topped with 1/4 cup organic salsa, 1 Tbsp. organic sour cream, and 1 oz. shredded organic cheddar cheese
4. Choose Better Bites in a Box
There is no substitute for fresh, unprocessed, whole foods. That said, the packaged foods below make the grade with high-quality “clean” protein, a low-glycemic index, and a better balance of omega-3s to omega-6s.
EcoFish Products (ecofish.com): This line of sustainable, omega-3-rich seafood is available at Target and Whole Foods. Naturally low-glycemic and “Seafood Safe” (low in mercury and PCBs).
WildCatch Products: Sustainable, wild seafood available at wildcatch.com and Whole Foods. (Sockeye Salmon Burgers – $3.49)
Organic Classics (organicclassics.com): An extensive line of organic ready-meals containing organic chicken and pastured meats. While most are heavy on the carbs, their Chicken Cacciatore ($5.69) and Honey BBQ Chicken ($5.69) are lower.
All of the above are delicious, fast, pocket-friendly… and truly healthy too. Enjoy!
[Ed. Note: As nutrition expert Kelley Herring points out, it doesn't have to cost a lot of money or take hours to prepare nutritious meals. For a twice-weekly dose of the latest breakthroughs in healthful recipes... weight-loss programs... and other ideas for achieving optimal health, sign up for ETR's free natural health newsletter.
Now you know how to prepare healthy dinners and lunches - and you can enjoy perfectly healthy desserts as well. Just pick up your copy of Kelley's recipe e-book, Guilt-Free Desserts. You'll find dozens of delicious recipes you can easily make at home.]
An orchestra is a musical group thatthree types of instruments: woodwinds (e.g., flutes, clarinets, oboes), percussion (e.g., drums, triangles, cymbals), and strings (e.g., violins, cellos, basses). It can be as small as four or five members.
A symphony orchestra is an orchestra capable of playing symphonies – longer pieces that require more instruments. So symphony orchestras have more members and add brass instruments (e.g., trumpets, tubas) to the mix.So how about a philharmonic orchestra? An orchestra becomes philharmonic when there is already a symphony orchestra in town. It’s a way to distinguish between the two.(Source: Mental Floss and the Chicago Symphony Orchestra)
On National Public Radio recently, a newscaster reporting on the Middle East conflict said that Gaza had been “bisected in two.” Of course, the word bisected means divided into two parts, so the phrase is redundant.
In an article in the interior design section of a respected newspaper, a report on mirrors included this phrase: “With their capacity to reflect back nearly all incident light… .” The back is unnecessary because it’s contained in the definition of reflect.
I used to expect journalists to display a minimal level of literacy, but I’m no longer surprised by the egregious errors I routinely spot. In an earlier column, I discussed redundancies. The problem is obviously still with us, so here’s another take on the subject.
One reason this error is committed so frequently is that it isn’t always obvious that a particular combination of words is repetitive. Another reason is that certain phrases have become cliches, and because of their familiarity they “seem right.”
The problem can be solved by deleting the redundant element, which is most often an adjective. If any of the following appear okay to you, take a second look.
• actual fact
• close proximity
• completely surrounded
• confer together
• consensus of opinion
• convicted felon
• deliberate lie
• disappear from view
• necessary prerequisite
• new innovation
• new recruit
• merge together
I borrowed some of the above examples from a clever little book: Armed Gunmen, True Facts, and Other Ridiculous Nonsense, by Richard Kallan. Though it’s primarily intended for amusement, the hundreds of redundancies cited also serve an educational purpose. If certain people make you “shriek loudly” by committing this type of mistake, a gift of this book “might possibly” help raise their “mental awareness” of their habit.
[Ed Note: For more than three decades, Don Hauptman was an award-winning independent direct-response copywriter and creative consultant. He is author of The Versatile Freelancer, an e-book recently published by AWAI that shows writers and other creative professionals how to diversify their careers into speaking, consulting, training, and critiquing.]
By now you should be well aware of e-mail scams: authentic-looking messages “from” your bank or credit card company that are actually from scammers “phishing” for your personal information. But now scammers have gone mobile. They are sending similar messages to cellphones via text messaging.
So keep an eye out for “alerts” from banks or credit card companies – even if they look official – urging you to call a number or text back personal information. Instead, call the financial institution directly through its official phone number (found on your statement, card, or the company website) to find out if there really is a problem with your account.
A good rule of thumb: Never, ever give out PIN numbers, bank account details, or Social Security numbers over the phone (or through a text message) to sources you don’t know. That goes for e-mail, too.
(Source: Consumerist)
Issue #2574
ALSO IN THIS ISSUE:
If you’re in business, you’re always on the lookout for breakthrough ideas. Ideas for new products… Ideas for attracting new customers… Ideas for communicating more effectively with your existing customers…
If you’re not constantly searching for new ideas – and applying them to your business – you’ll get trampled by businesses that do.
In-house brainstorming sessions are an excellent source of moneymaking ideas that will make your business soar. But don’t stop there. Michael Masterson recommends that you expand your search by keeping tabs on the actions of other businesses in your industry – and he has three guidelines to help you do it:
1. “Get out of the office and into some generalized business environment several times a year.” Industry functions like ETR’s upcoming Profits in Paradise conference, for example, would be a great place to meet like-minded businesspeople and hobnob with successful business mentors.
2. “Seek out and question successful colleagues, competitors, and others – even if you don’t especially like them.”
3. “Be attentive to what they say. Sometimes, what seems like an innocuous comment can trigger a great idea if you listen hard – and think while you listen.”
[Ed. Note: If you're looking to reach the next level in business or in life, the simplest and fastest way to get there is to read Michael Masterson's best-selling book, Ready, Fire, Aim: Zero to $100 Million in No Time Flat. Pick up your copy here.]
Golfers have always had to defend themselves: Is golf a sport, or is it simply laid-back recreation? Now we have an answer, sort of.
Research by the Rose Center for Health and Sports Sciences in Denver tracked the heart rates, oxygen consumption, carbon dioxide production, and walking distances of golfers during a typical game. The results indicated that golfers actually expend more energy than those engaged in activities like bowling, billiards, fishing, and even the Canadian national pastime of curling.
But don’t start bragging just yet, golfers. The exercise you get during a game pales in comparison to football, baseball, and even Ultimate Frisbee.
Plus, we here at ETR are reluctant to label something a “sport” if you can drink beer while doing it.
(Source: Popular Science)
The other day, while I was completing my Turbulence Training workout, I noticed that the folks sweating it out on the cardio machines were going through some interesting rituals. After watching them for a while, it was clear to me why they were doing it: They were doing too darn much cardio!
This got me thinking. And to keep you from falling into the same trap, I came up with the following ” 7 signs that you are doing too much cardio.”
#1. You have to spend 5 minutes before your workout flipping through all the magazines in the gym to find one you haven’t read before.
#2. You know the other cardio addicts on the machines (the guys you talk to every day) better than you know your own friends.
#3. You know exactly how many calories you burn per minute on every machine in the gym. (And you use that information to justify every calorie you eat.)
#4. You dread your workouts more than a trip to the dentist.
#5. The only thing you are losing is precious time – not belly fat.
#6. You go to the gym to watch your favorite television shows while doing cardio.
#7. You’re getting overuse injuries because you keep doing the same activity over and over again every day.
Listen, cardio is not the be all and end all exercise for fat loss. In fact, as I’ve written in previous ETR articles, cardio just doesn’t work.
A big part of your results are going to come from your nutrition. So focus on whole, natural foods, and avoid foods that come from a bag or a box.
Once you’ve taken care of your nutrition, look for workouts that you enjoy and that allow you to build strength, mobility, and fitness. You’ll save time, have more fun, and see a big difference in your waistline.
[Ed. Note: If you think long, slow cardio is the best way to get fit, you've fallen victim to one of the most common myths around. Discover 5 more myths about exercise - and how to combat them - right here.
For simple ideas that can help you find more energy, better health, less pain, and a dramatic boost in overall vitality, sign up for ETR's free natural health newsletter.]
“This year will be the year of rebuilding customer brand loyalty and service. Having the biggest discounts will not ensure that consumers stay loyal to a brand. What is important is developing a sound marketing and communications strategy that allows companies to listen, react, and engage with consumers across multiple communication platforms.”
(Source: CNN)
When you’re at a crossroads in your career – when your heart tells you to go in one direction, but your family and friends are trying to convince you to take a more practical path – what do you do?
In his very good book, The 4-Hour Workweek, Timothy Ferriss says that when it comes to deciding how you want to spend your life, the two most important things to remember are (1) The timing is never right and (2) Ask for forgiveness, not permission.
1. The timing is never right.
“For all the most important things, the timing always sucks,” says Ferriss. “Waiting for a good time to quit your job? The stars will never align and the traffic lights of life will never all be green at the same time. The universe doesn’t conspire against you, but it doesn’t go out of its way to line up all the pins either. Conditions are never perfect.”
2. Ask for forgiveness, not permission.
“If it isn’t going to devastate those around you, try it and then justify it,” says Ferriss. “People – whether parents, partners, or bosses – deny things on an emotional basis that they can learn to accept after the fact. If the potential damage is moderate or in any way reversible, don’t give people the chance to say no.”
So if you’re torn between pursuing a wild dream and following the common sense advice of people who care about you, what do you do?
I say… go for it! When I have followed my heart on career decisions and ignored the well-meaning advice of others, I have done very well.
Make your decision and then “sell” your loved ones on the value of being supportive of your new venture. As an ETR reader, you know how to do that: Make an honest, enthusiastic sales pitch highlighting the many ways that following your passion will benefit them… not you. Make promises. And keep them!
“Someday is a disease that will take your dreams to the grave with you,” says Timothy Ferriss. To that I would add this: The only thing worse than “someday” is “later.”
[Ed. Note: Twenty-nine percent of people fail to keep their New Year's resolutions after TWO WEEKS, thinking "I'll come back to this someday." Don't let YOUR dreams fall by the wayside. Learn how to get easy-to-follow advice and powerful success strategies that have been proven to work right here.]
I’ve been getting lots of e-mails and calls from people who don’t actually have websites up and running yet. And they’re all concerned about the same thing: “Sure, your strategies are good for people who are already making money online… but what about those of us who are still thinking about starting an Internet business? Isn’t this the worst time to launch a new website?“
Believe me, I understand your fears…
With the past year full of talk about failing banks, collapsing real estate markets, and imploding stocks, I wouldn’t blame you if, right about now, you feel like taking every spare penny you have, stuffing it in your mattress, and waiting for this entire mess to blow over.
But the truth is, starting an Internet business is something you should consider, no matter what the economy looks like. Here’s why…
First, online sales have never been stronger. In fact, a recent report published by comScore Inc. indicates that, despite the ailing economy, online spending between January and October of 2008 rose 9 percent to $102 billion – up from $94 billion in 2007.
Second, remember that, unlike local brick-and-mortar businesses that are typically at the mercy of the local economy,you have access to an entire global market. So even if U.S. shoppers are feeling pinched, you’ll still have plenty of other customers to turn to.
Next, consider the start-up costs of an Internet business. Unlike traditional businesses, you can get your website running for less than the cost of a couple of nights out on the town. So you don’t need to tie up your “emergency” cash – or go into debt – to get started.
And speaking of debt, with such low initial costs, you won’t have to worry about trying to qualify for a start-up loan, something that’s likely to get much tougher during the current credit crunch.
Finally, remember that you can start your Internet business even while you’re working your “day” job, so you can continue to enjoy a regular source of income while you work on making your site successful. Try that with a brick-and-mortar business.
At the end of the day, starting your own Internet business during a recession (or whatever they’re calling it) is an excellent form of job security.
But before you jump in and start your website… remember that there’s one big (and I do mean BIG) newbie mistake you must avoid if you hope to build a successful online business in this turbulent economy.
To start a truly successful online business, you must first identify a “niche market.”
No matter how often I talk about it, I still see many well-intentioned people getting this wrong. (Lots of established site owners are getting it wrong, too.) When I chat with people at industry events, when I read the questions from members of my Internet Entrepreneur Club, when I look at comments on my blog, I hear and see the same things all the time:
“My niche market is young business professionals.”
“My niche market is women over 40 who are interested in their health.”
“My niche market is people who like to garden.”
These are NOT niche markets!!
These are huge and undefined groups of people who all have different goals, interests, and experiences. And trying to sell effectively to a diverse group like that is going to be an exercise in failure.
You’ll likely find yourself competing directly with the likes of Walmart, eBay, or Amazon (or all three)… and something tells me their marketing budgets are just a tiny bit bigger than yours, right?
But that’s the beauty of marketing to a true niche. It’s a much smaller, more defined target, so you can figure out exactly what everyone who visits your site wants… know where they hang out online… understand precisely how to speak to them… and offer the specific products that will make a difference in their lives.
At the same time, you can really concentrate on becoming a recognized expert in your chosen market, so you’ll be able to build really strong relationships of trust with your visitors.
Best of all, these smaller markets are often virtually ignored by the big guys, so you end up with much less competition. Then, even though you’re selling to far fewer people, you’ll actually end up making more sales.
Make sense so far?
So, if “parents over 35″ or “balding men” aren’t niche markets, what is? Well, let’s look at some examples. These are actual niches that real people are getting wealthy in right now:
See the difference? A niche market is super-specific and caters to a group of people who are all looking for the solution to a common problem.
If you’re worried that narrowing your market this much will limit your sales, consider this:
In a typical town, a business selling nothing but organic parrot food would likely struggle. Even the local pet store couldn’t sell enough of it to make it worthwhile. There just wouldn’t be enough demand.
But with over 1.3 billion people worldwide on the Internet, even if only one or two people in every town want that specific, hard-to-find product, that’s more than enough to make a market for a profitable business.
So start that website now, even though it may seem like the timing is bad. Just make sure you do your homework first.
By identifying a solid, tightly defined niche market, and then building your site and products around the problem your market is trying to solve, you’ll be taking the first giant step toward profits… and avoiding the kinds of disasters that small business start-ups can experience during uncertain economic times.
And that’s what I call job security!
[Ed. Note: As Internet marketing expert Derek Gehl says, this is the perfect time to start an Internet business. Find a niche, set up a business, and you could make it out of the recession completely unscathed. Derek has helped thousands of people grow online businesses that generate $100,000 a year, and often much more! Find out if you have the personality to create extraordinary wealth online - for free - right here.
And for targeted advice on building your own blockbuster Internet business from world-class Internet marketing masters, check out ETR's exclusive Internet Money Club. You'll discover a rock-solid blueprint for creating a business from scratch. Learn more here.]
Issue #2573
ALSO IN THIS ISSUE:
The grassy plains of Argentina’s Pampas have been home to vast cattle ranches for generations. And for just as long, cattle rustling has plagued ranchers raising the country’s world famous free-range, grass-feed beef.
These days, the Argentine government tracks down cattle thieves by using modern technology. A DNA database of 10,000 head of cattle allows investigators to cross-reference samples from “suspect” steaks and sausages. Since the program began seven years ago, 270 cases have been solved using this DNA evidence.
(Source: Reuters)
Yesterday morning, after an early morning walk with Bally, my 3-year-old chocolate lab, I sat down in my office and read a motivational quote. (Something I do every day.)
This one struck me as true for both business and weight-loss success. It says, “Intense desire is the foundation of all achievement.”
So here’s a question to ask yourself: Do you really, truly have an INTENSE burning desire to succeed with your fat-loss goals?
Or is your interest in losing fat the “flavor of the month” for you?
Only if you truly have an intense burning desire to change will you be able to lose fat. Otherwise, you’ll probably just lose interest and motivation in a few weeks. That’s the harsh truth.
Success mentor Bob Cox is a big proponent of pinpointing your motivation for setting a goal before you take action. Knowing the “why” behind your desire to accomplish something will help you move forward. So if you are committed to making your fat-loss program a success this year, take a few minutes to make sure you have identified your intense burning desire to achieve that goal.
Ask yourself: “Why do I truly want to change and lose fat?”
Let’s say your answer to that question is “Because I want to look better.” So then you ask yourself “Why do I want to look better?” And you keep asking yourself “Why?” after every answer.
Dig deep. You’ll find a very emotional “weak spot” that is driving your intense desire to succeed. Turn this “weakness” into your strength (your intense desire for success), and you’ll finally achieve your fat-loss goals this year.
[Ed. Note: Identifying your motivation is just one simple method that can help you achieve your dreams. Discover dozens of tools that can help you get everything you want out of life right here.
Get a head start on your weight-loss goals with fitness expert Craig Ballantyne's Turbulence Training program. Learn how you can get fit with three 45-minute workouts a week right here.]
If your job or business requires you to travel frequently to meet with clients, attend conferences and seminars, or consult with business partners… it could be affecting your home life.
One way to tip your work/home balance back the other way is to bring your family with you on the road.
This is not a good idea if you’re going to be working 18-hour days. But if your schedule allows for free time, you may be able to play with the kids before you head out in the morning, have dinner with your spouse, and enjoy watching a movie together in the hotel room in the evening. You could even tack on an extra day or two at the end of the trip for sightseeing or to visit nearby attractions.
If appropriate, you might even let your spouse or an older child tag along to a meeting or business dinner. Showing this “other” side of you can be a great way to form closer relationships with colleagues and clients.
Taking your family on some of your business trips not only allows you to spend more time with them, it has an added bonus: They get to see (and understand) what you do for a living. Having them “on your team” makes it more likely that they’ll support your work, and will make it easier when you have to go on future business trips without them.
[Ed. Note: If spending more time with your family and less time at work is your goal, you probably need to radically increase your income. You can learn dozens of ways to break free of the corporate rat race and control your own financial future at the upcoming Early to Rise Profits in Paradise wealth-building summit in Orlando. Find out more here.]
I swerved for the third fallen tree on the road as torrential rain pelted the car windows. It was starting to look like a war zone as floodwater and rocks spewed out onto the road from the hillside that was rapidly becoming a series of slurried landslides. The first major storm of 2009 tore up the landscape and brought most rivers in the Pacific Northwest to flood stage. But I had to make the journey, and I was too far now to turn back.
Onward I pressed, and finally I was out of the woods. Ten miles of clear, open road lay ahead, and soon I was almost at my destination. Just a half-mile to go and… “ROAD CLOSED: HIGH WATER.” I had to double-back and make a 25-mile detour.
How many times has the lane you’ve been driving in come to a screeching halt when a sign suddenly appears that says “Right Lane Must Turn Right.” Why don’t these signs appear early enough for drivers to take action proactively, rather than having to slam on their brakes at the last minute?
This same basic problem exists on many websites, and it could be hurting your online sales. Fortunately, there’s something you can – and should – do about it.
Why This Problem Hurts Your Internet Sales
I’m sure this has happened to you…
You enter your credit card number to place your order. Then – AFTER you’ve entered your number – you get an error page that tells you “Credit Card Number must be entered in format xxxx-xxxx-xxxxx-xxxx.” Or that your phone number should be in a certain format. Or that your password needs a minimum of eight characters including numbers and must start with an uppercase letter.
All you want to do is spend money. But this website is preventing you from doing so.
If your website or shopping cart requires customers to enter information – such as an e-mail address, phone number, credit card number, etc. – a certain way, here are 8 steps you need to follow.
1. Try to limit the restrictions you place on people. They are customers, not computer programmers! It’s better to accept what the customer enters and leave the reformatting to your programmers.
2. Remember that it will be hard for some people (customers with dyslexia, for example), to enter data into your website. Make it simple for everyone to place their orders by listing your phone number on the website so they can just call you.
3. Place the request for information “in a certain format” at the point where people enter that data – underneath the field asking for the phone number, for example.
4. If you don’t wish to “clutter” your website with such instructions, have your programmer create a JavaScript or similar code that allows customers to input the data, but then warns them immediately that a certain format is required. This is less than ideal, but a good compromise.
5. It’s often possible to program your site to allow customers to enter their data any way they wish – and then have the program automatically remove dashes, dots, or superfluous characters and reformat the data into the required format.
6. If a customer is selecting a username, make it easy for them to determine whether that username has already been taken. Yahoo, MSN, and Gmail do a good job of this. There’s nothing more frustrating than having to submit a form three or four times while trying to come up with an available username.
7. If you don’t allow orders from certain countries, state that upfront on your website. Better still, use a software package that can identify the country a visitor is accessing your website from, and can lead them to a special page informing them that you do not currently service their location. (Such programs are made by MaxMind and IP2Location.)
I’ve personally experienced the frustration of browsing a site and shopping for half an hour, only to find out that the company didn’t deliver to the country I was in at the time.
8. When developing your website, allow plenty of time for testing with real customers. (Software developers and your staff do not constitute real customers.) The only way you’ll know, for example, how most of your customers will prefer to enter their credit card numbers – with dashes between digits, with slashes, or with no spacing at all – is to run tests. Invite a select few of your customers to test such things for you. As a gift for their help, do what my friends who run an aromatherapy business did: Give them the products they order during the test for free.
The most important function of your website is to allow your customers to place their orders and receive the products or services they’re interested in. So make it as easy and hassle-free as possible.
You know how frustrating it is when you have to make a U-turn or take a detour when you could have been given fair warning beforehand. Don’t make your customers jump through unnecessary hoops to complete their purchases.
[Ed. Note: Making your website appealing and easy to use doesn't have to be hard. You can get expert advice, as well as useful suggestions for how to start an e-newsletter, write sales copy, create products, and more as a member of ETR's Internet Money Club. Get all the details on a step-by-step guide to creating your own Internet business right here.]
So far, 2009 is starting off much like 2008 ended: not good for the market. But I remain bullish about the year as a whole.
If you are a long-term investor, you have an incredible opportunity to pick up some stocks that are trading well below where they were at the beginning of 2008. Granted, some – if not most – stocks deserve to be down where they are. They were way over-priced this time last year, and now they are priced accurately.
However, some stocks have gone down for no other reason than “guilt by association.” These are the ones you want to be to adding to your long-term portfolio.
I am talking about companies like Tupperware (TUP) and IBM that are trading at a 30-40 percent discount from where they were one year ago. This despite the fact that their earnings have not declined nearly as much as their stock prices have.
Look for companies with a strong return on equity ratios. Look for companies whose stock price has dropped sharply, but whose sales and revenues have not declined or have not declined as sharply as the stock.
[Ed. Note: The S&P 500 is down 36% from January of last year... the Nasdaq has dropped 763 points in the same time... and the Dow is still hovering around 8,000 points. But you should be ready to take action when the moment strikes. Some incredible opportunities are headed your way, and market analyst Rick Pendergraft has put together an educational program that lays out the simple steps you need to take advantage of them. Not only do you get three months of Rick's best recommendations, you also learn how to make good investment choices yourself. Get the details here.]
Issue #2572
ALSO IN THIS ISSUE:
Undiagnosed food allergies can cause dark circles around the eyes, fatigue, chronic sinus drainage, joint pain, and general achiness. But they may also cause headaches. I’ve known this for years, and research is finally validating it.
Many migraine sufferers can name their trigger foods – often chocolate, nuts, red wine, or cheese. Until recently, no one had a good explanation for why those foods act as triggers. However, according to a recent study in an allergy and immunology journal, migraines, which can occur in as much as 18 percent of the population, may be caused by IgG food allergies. (An IgG allergic response is a delayed reaction – as opposed to the immediate response of an IgE reaction, such as hives or anaphylaxis – which occurs when a foreign substance like bacteria or a food protein enters the bloodstream.)
In the study, migraine sufferers were tested for 108 food allergens. In those who tested positive for IgG reactions to foods, the headaches were successfully treated without the use of migraine medications. The subjects simply avoided the foods they were allergic to. Unfortunately, IgG testing is rarely suggested to those who suffer migraines, even though it is readily available and relatively inexpensive.
While IgG food allergies have not been fully recognized in the past, newer information is set to change that. So if you suffer from migraines (or any of the other symptoms I mentioned above), food allergy testing – namely IgG or ELISA testing – may be the solution to your problem. For more information, visit our website at lmihealth.com or go to foodallergy.com/about.html or immunolabs.com.
[Ed. Note: Breakthroughs in the health industry are published almost every day. To know which ones can help you live a longer, healthier life, sign up for ETR's free natural health newsletter.
It truly is possible to improve your health just by making wise choices when it comes to diet and lifestyle. James B. LaValle, RPh, ND, CCN - founder of the LaValle Metabolic Institute and a nationally recognized expert on natural therapies - can give you easy-to-understand directions for living the healthy life you've always wanted. Learn how to feel better and live longer right here.]
While it seems like a simple enough proposition, the fact is that choice can be a very complicated subject. I think most people believe “You are a victim of your own choices.” They have shared story after story about how they made bad choices that led to their downfall, as well as good choices that led to great success – often in the face of enormous obstacles.
I agree that where we are at any given point in our lives is primarily the result of the choices we’ve made. But I’m not as hard line on the issue as you might expect. For example, if a person does not have the mental capacity – or emotional makeup – to make good choices, it is virtually certain he will make a lot of bad ones. This is the plight of the so-called “special needs” child.
I’ve taken some heat from hard-core conservatives and libertarians for saying that Seung-Hui Cho, who murdered 32 fellow students and teachers at Virginia Tech in April 2007, was a victim as well as the perpetrator of a heinous crime. No one has the wisdom, let alone the moral authority, to decide who is, and is not, mentally capable of making good choices.
Another interesting way of looking at choice was sent in by one of my readers who said: “I would assert that none of us ever has free will or choice. Choice is an illusion – an illusion that ego is ever so proud of.” He went on to explain that extensive studies have shown that the brain is “already in the process of executing all actions and thoughts one full second before the action takes place, and a half a second before the action/process is noticed by attention/consciousness.”
In other words, the ego/mind notices something that’s already happening and, while it is happening or sometime afterward, says, “I did that!” or “I chose for that to happen” or “I willed that to happen.” But, my reader pointed out, since “the action had already started and would continue even if it never made it into consciousness/attention/ego/mind,” that makes us nothing more than stimulus-response machines.
So, it all comes down to the same old question: Does man really possess free will – the power to choose? Or is our every thought just a result of the way our brains evolved? Was the “thought” in my mind to type these words already set in motion 14 billion years ago, as well as the thought to even ask the question? Is my belief that I am, of my own free will, sharing all this with you just an illusion?
Gosh, I hope not. For if we are nothing more than organic automatons, life has no meaning. If we do not have free will, we are but actors on a cosmic stage, playing out our parts exactly as we were programmed to do. Which would make for rather dull theater.
And that makes the Dalai Lama no better or no worse than Adolf Hitler. One of them was simply programmed to be a good toy, the other a bad toy. In fact, aside from criminal defense attorneys and politicians, you’d have to give everyone a free pass for their “bad” actions. Which is why, though I believe in free will, humility compels me to admit that I don’t understand it.
Why not just make everyone good? Why give anyone the power to make bad choices?
Regardless, to one extent or another, most people do believe in free will. Which means they believe in some degree of self-determination, a concept with two divergent groups of adherents – humanists and “spiritualists.”
To oversimplify it, a humanist believes that man is totally at the controls and that science, in effect, invalidates God. From an intellectual viewpoint, the problem I have with this is that while man continues, at an accelerating pace, to figure out how things work, it seems clear that he will never be able to answer the “why” question. Why does gravity work the way it does? Why do atoms combine to form certain specific molecules? Why is math the language of the universe?
I am what I would call a “straddler.” I believe in self-determination brought about by connecting with a “Universal Power Source.” But, at the same time, I believe that many things are not within man’s control. Yet, there are two important questions this viewpoint does not answer:
First, why do certain events seem to be predestined and out of our control? And, second, which events really are out of our control? We pretty much know that macro events such as earthquakes, typhoons, and collisions between objects in the cosmos fall into this category, but what about events in our day-to-day lives?
And what about the age-old question: Why do bad things happen to good people? I’ve listened to many people do mental cartwheels in an effort to glide around this one, but my own answer is as straightforward and honest as I can make it: I simply don’t know.
The subject of fatalism versus self-determination constitutes far more than just a fascinating philosophical discussion. It gets at the very heart of making good choices. If you believe in fatalism, there is no reason to even try to make good choices. On the contrary, it gives you a good excuse to embrace the most extreme form of narcissism. This, I believe, is the underlying, perhaps subconscious, mindset of the John Edwards Genre.
But if you are among the millions who believe that some things are predetermined while others are not, my advice is that you not spend a great deal of time worrying about which things fall into which category. It makes a lot more sense to make a conscious effort to make good choices at all times. This doesn’t guarantee that you will always succeed in making good choices – but if you don’t even make the effort, it does guarantee that you will rarely make them.
And what if our choices really are nothing more than illusions? What if we really are nothing more than stimulus-response machines? Not much you can do about that except enjoy the illusion that you have free will, and keep on imagining that you’re making good choices… just in case, somewhere down the road, you should discover that you do have the power to control your own destiny.
[Ed. Note: Choose today that you’ll make a positive change in your life this year. ETR can help you accomplish practically anything you decide to pursue – becoming a better parent, rebuilding your retirement nest egg, finding a new career. With targeted, actionable advice from our Success Mentor, you could make this the year you get everything you want out of life. Learn more here.
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