Issue# 2702
- WEALTHY: Do you have any business… starting that business? (Michael Masterson)
- EALTHY: When wild salmon is just too pricey… (Yarixa Ferrao)
- WISE: Joseph Addison on reading
ALSO IN THIS ISSUE:
- The marketer’s Number One Priority (John Carlton)
- A sure sign a deal is to be had (Paul Lawrence)
- It’s Fun to Know… about making lab mice talk
- Add “dilatory” to your vocabulary
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The Principle of One Step Removed
Your chances of success in starting a new business decrease with each step you take away from the business you already know.
Let’s say you have a successful neighborhood restaurant called The Steak House. Your basic business is selling a certain kind of eating experience to a local community.
Over a few drinks with friends, you come up with two new business ideas:
1. The first is to open a local restaurant called The Fish House.
2. The second is to go into the wholesale steak-selling business.
Both of these businesses have elements that relate to what you are already doing.
The Fish House is almost identical except for one difference – you will be selling fish, not steak. Everything else – how you attract new customers, how you create a profit margin, and how you control your costs to deliver a bottom line – remains the same.
Starting a wholesale steak-selling business is about selling steaks – and that’s what you already do. But in this case, there are many differences. For one thing, the market is different. You are not selling to local diners but to regional businesses. This means the selling strategy is different… which means the profit margin is different. And so on.
Opening The Fish House is an example of starting a new business that is only one step removed from what you know. Opening a wholesale steak business is three or four steps removed.
The first new business idea has a good chance of succeeding. The only unknown: Will there be a big enough local market for fish? The second business idea has a poor chance of succeeding. There are simply too many things you don’t know about it.
It is possible to succeed by taking two or three steps away from your core experience. As a rule, though, you want to take one step at a time.
[Ed. Note: Get even more of Michael's surefire strategies for getting ahead in business in True Path to Profits: A Master Entrepreneur's Guide to Business Success. Find out more - including how you can get a bonus subscription to Michael's VIP newsletter, Ready Fire Aim - right here.]
“Reading is to the mind what exercise is to the body.”
- Joseph Addison
Who Gets Read
By John Carlton
There’s nothing better than discovering a book by writer who knows how to get deep inside your head, so you can’t wait to get back to the book for another dose of the world he’s created. It’s even better if he’s been a prolific little dude, and there are more books lined up behind that one.
But I’m not holding my breath. I have been left at the altar, so to speak, far too many times by books with good cover blurbs (”The most riveting, ball-busting adventure I’ve read in decades!”) and no juice inside.
Really good writers are hard to find. Bookstores are crammed to the rafters with BAD writers (in case you hadn’t noticed).
Sometimes, for example, I get a hankering for some science fiction – a niche that sustained me during a gruesome adolescence – and I’ll cruise the SF aisles, randomly opening books and reading half a page.
Sci-fi novels are almost universally horrible these days. I long for the next Asimov or Bradbury. But I’m not holding my breath for that, either.
Wait. There’s a marketing lesson here.
Do this little experiment: Grab four books from the bookstore. (And yes, I’m asking you to drive to an actual bookstore, get out of the car, and walk around. It won’t kill you… and it will force you to recognize the vast tree-killing industry out there trying to steal eye-time away from your marketing efforts.)
Get two fiction books and two business books. Doesn’t matter what the subject matter is – just choose something that rings your chimes. Sexy murder mysteries, Idiot’s Guide to Whatever, classic literature, one of those tomes by Joe Sugarman you’ve been promising yourself you’d read some day.
Drink your cappuccino, drive home, and secure a spot where you won’t be disturbed for half an hour or so.
Now, plow into the first book. Read the cover blurbs, the forward, the table of contents, and the first chapter.
That’s it. Just the first chapter.
Toss it aside, pick up the next book, and do the same. And so on, through your little pile.
What you will have at the end of this short experiment is a very stark example of four different kinds of writing. By four different authors.
Now ask yourself: “Do I want to continue reading any of these books?”
My guess is that one of the four will not suck. That fourth book may, in fact, rock out. At least for you.
Repeat this experiment until the lesson becomes obvious. (You can use the library instead of the bookstore, if you don’t want to blow the dough… or you hate cappuccino…)
Some writers know how to grab your attention, quickly and definitively.
Sometimes, they know what they’re doing. They craft their writing to lure you in and hold you there. These are the experts. Other times, the writer is unskilled, and merely “transferring” his own passion to you through the written page. Maybe an editor was in evidence, cleaning up the tangents and B.S.
More likely… the writer got in touch with communicating what he needed to say… and did it. Just slammed it out, and hit pay dirt. He may never be able to get in that kind of lucky groove again.
Online, with most websites and all blogs relying on the written word to convey most of the message, getting read is your Number One Priority. Even if you’re swinging into using video more and more (and I love video)… you still must rely on the same writing skills to grab and hold attention with your script.
Trust me on this experiment: You need to do it yourself. No matter how little you read normally. Hell, especially if you’re not much of a reader.
It’s tough to become a top marketer if you’re languishing among the 25 percent who never read… or the 50 percent who seldom read. (Half the country reads no more than a single book in a year… and it’s usually a crappy book.)
It’s all about mind expansion. Reading will do things to your brain that TV, radio, sports, video games, and every other media can’t begin to touch. Reading is like steroids for the brain. Seriously. (Heavy readers don’t often suffer dementia later in life.) And, as a marketer trying to woo the masses…
… it really pays to be that guy who is well-read, informed, hip, and comfy in the larger culture.
You have more to say. You say it better.
And you get read.
You do not have to be a “great” writer to be a successful marketer. In fact, your grammar, like mine, can blow chunks. And you may use too much slang, and violate lots of other “rules” of formal writing.
Doesn’t matter.
It’s all about communication. About grabbing your readers and dragging them into your world, where they will become so engaged and enthralled… that they stay, and absorb, and bond, and buy.
Something to consider, as the competition heats up in every online market out there.
[Ed. Note: John Carlton is an expert copywriter, a pioneer in online marketing, and a teacher of killer sales copy. He knows marketing inside and out. Discover how to get your hands on the kick-ass secrets of the world's smartest, happiest, and wealthiest marketers.
Understanding what makes for great copy is just one aspect of running a thriving, profitable Internet business. With ETR's Internet Money Club Independent Learner Edition, you'll get a step-by-step playbook to everything you need to know to make money online.]
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Negotiate the Close
“If I can do that – get the contract signed by next week – can we lock up this deal right now?” I asked.
“Yes, we can,” she answered.
Because I asked that one question, a deal that we’d been negotiating for weeks was instantly done. It’s an old technique, but one worth reminding yourself of from time to time.
When the other party says they want “one more thing”… they’re often telling you that they’re ready to make a deal – and bells should go off in your head. If you can live with the request, you can likely close the deal right then and there.
Recognizing subtle “buying” signs like this one is a skill you should work on developing. I recommend practicing whenever the opportunity arises in your everyday life.
Let’s say you and your wife can’t agree on dinner plans. You really want Japanese, but she’s hesitating. “I don’t know if I want to go out at all,” she grumbles. “We always go where you want to go.”
So you say, “Would you be okay with Japanese tonight if we go to your favorite sushi place – and next time we go anywhere you want to go?”
She nods emphatically… and you’ve got yourself a deal.
[Ed. Note: Paul Lawrence is a successful entrepreneur and publisher who has started over a dozen profitable enterprises. To get more practical small-business tips, check out Paul's "Street Smart" program by clicking right here.
Effective negotiation is just one skill you need to be successful in business. To learn dozens of others, use Ready, Fire, Aim: Zero to $100 Million in No Time Flat by Michael Masterson as your reference guide.]
An Inexpensive Source of Protein
ETR’s health experts are big advocates of lean, healthy sources of protein – with good reason. A high-protein diet is very effective for keeping your appetite under control and helping you lose weight. However, the best sources of protein – like grass-fed beef and wild salmon – aren’t cheap.
Though your health is worth spending a little extra on high-quality meat and fish, you don’t have to eat it at every meal. There’s a less expensive alternative: whey protein.
Whey protein, which is derived from milk, is one of the most bioavailable forms of protein. It gets into your muscles quickly, which helps you recover and repair muscle tissue fast after you work out. Plus, at $1.40-$2.50 a meal, it’s budget friendly.
Make sure you get whey protein isolate that is lactose free (for easy digestion). My favorite is from Americanwhey.com. It tastes good, it doesn’t cause bloating and it’s low in carbs and fat.
Drink 2-3 shakes a day as snacks or meal replacements. (Get a Magic Bullet so you don’t have to wash a huge blender every time you make a shake.) Another option would be to buy pre-packaged protein shakes. (I like EAS brand.)
And keep in mind that when you’re on a high-protein diet – whether the source of your protein is meat, fish, or whey isolate – it’s important to drink lots of water to aid in absorption, digestion, proper elimination, and hydration.
[Ed. Note: Getting enough protein can help you stave off the munchies and lose weight. But you also need to exercise regularly to get fit. For dozens of exercise ideas you can implement at home, sign up for ETR's free natural health newsletter.
Yarixa Ferrao is the certified personal trainer and founder of "Get Fit in 6" who has been whipping some Early to Rise staffers into shape. You can now discover all of Coach Yari's secrets to leading a healthy life at her Retreat in Delray Beach this July 10-12. Get the details here.]
It’s Fun to Know: Making Lab Mice Talk
File this under “freaky science experiments.”
Molecular biologists in Leipzig recently spliced human language genes into lab mice… and they started talking.
Well, maybe they weren’t speaking in any language we humans could understand… but it did alter the brain structure of the mice. Their “language” centers grew more complex. And the way they communicated with other mice – i.e., their squeaking – was different.
The purpose of creating the mutant mice? To discover how this particular gene may have evolved in early humans to give our species the ability to speak.
(Source: Discover Magazine)
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Wealth Attraction Secrets That Can Turn You into Your Own ATM Machine
Imagine for a moment you are a pitcher toiling in the minors for years.
You are good, just not great… frustrated you think if only you had that “missing ingredient” to put you over the top-put you into “The Show”, the MAJORS.
Then you get a phone call which changes your life. In fact, its so mind boggling that you think it’s a joke, that’s because it’s “The GREG MADDUX…” 4 Time Cy Young, 350 game winner and FUTURE HALL OF FAMER, Greg Maddux!
All Greg wants to do is personally coach you for 30 days and give you “his” inside secrets to executing three different pitches. Once he does- you are remarkably transformed into a major leaguer… just like that!
Or what if you’re a swimmer on your high-school swim team. You are up for a big tournament in 30 days… this is THE one you need to win to get that college scholarship!
Problem is, there’s LOTS of competition and you might not be good enough.
That is until your coach comes into practice with MICHAEL PHELPS, 8 time OLYMPIC GOLD WINNER Michael Phelps… and he personally coaches you for 30 days and gives you “the missing ingredient”, that will boost your endurance and speed 10x times to what it normally is. CHA-CHING college was just paid for!
There you are… struggling like every other American through the greatest economic crisis of the 21st century… bills are paying off… your house needs repairs (or maybe you are about to lose it).
To add insult to injury your new business is NOT taking off. You are at your breaking point-and then it happens:
The co-founder of the 1st Home Shopping Network and personal mentor to no less than 4 billionaires contacts you.
This rich man wants to give you the “missing ingredient” you need to attract wealth — the one that will turn you into a mean, lean, money making atm machine!
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Word to the Wise: Dilatory
“Dilatory” (DIL-uh-tor-ee) – from the Latin for “to delay” – means given to procrastination; tending to put off what ought to be done at once.
Example (as used by Carroll O’Connor in I Think I’m Outta
Here): “I am inclined to be dilatory, and if I had not enjoyed extraordinary luck in life and love I might have been living with my mother at that very moment, doing nothing.”
[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 Words to the Wise CD Library.]
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