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Message #1900
Thursday, November 30, 2006

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  • WEALTHY: My defense of ... something that shouldn't need defending (Michael Masterson)
  • WISE: William A. Ward on making mistakes

ALSO IN THIS ISSUE:

  • The "inverse paranoid" approach to life (Brian Tracy)

  • Tips on tipping

  • Add "effulgence" to your vocabulary

* Highly Recommended *

He'd Have Called Them Crazy - Or Worse!

With the Internet, it's now possible to spend no more than a few dollars, write a couple of very basic ads, and have instant access to millions of potential customers all in a matter of minutes.

If anyone had told Jim Sheridan he could bank thousands in just 24 hours. . . without any product of his own. . . without spending a penny on getting it or promoting it, he'd have justifiably said they were nuts.

But Jim made a decision that he would overcome his skeptical nature and give it a go. Boy, is he glad he did! That one deal alone banked him $187,296 in one day.

The great news is - you can copy Jim’s plan exactly. The program is called Instant Internet Income and I guarantee it does exactly what it says it does.

Take a look at how Jim brought in over $175,000 in a single day!

P.S  I am so excited about this program that I am offering a special report to the first 50 people who respond. It’s called "15 Minute Internet Businesses that Can Earn You $2000 or more per week." and let me tell you, the value is priceless. Don’t get left behind, act now!

- Patrick Coffey


You Can Lead a Horse to Water ...

By Michael Masterson

A Chicago reader isn't "impressed" with Seven Years to Seven Figures: The Fast Track Plan to Becoming a Millionaire.

In her reader review on Amazon, she says:

"I was expecting more things that I can do as a non-professional (I'm a receptionist right now) who has no real selling skills. All that [Michael Masterson] talks about is pretty obvious things that require some serious skills, like start a business that earns an average of $700,000 a year, then sell stocks in that company. Okay, sounds good, I'll get right on that. He does mention some good points about saving (what we should be saving according to our income), but the stories about the people in his book (are they even real?) get to sound a little out of my ballpark. I like the idea of finding something that you're good at and make a lot of money off of it, but is that always possible? I like painting buckets, but there is only a small market for that (I've even tried to sell online).

"I'm skeptical about the stock advice, i.e., don't invest passively. I was told that the best way to invest is to pick a fund that you're confident in and let it ride, because 'beating the market is nearly impossible.'

"So, if I can't invest aggressively, and can't dramatically increase my income (or get rid of all of my expenses), the only thing left for me is real estate. I think that point was made after the housing boom made the author rich, but the market isn't going anywhere now.

"I'm still looking for good advice!"

Let's try to understand what this reader is saying.

Her first complaint is that she wants more advice about how she can get rich - she, being someone who has a limited education and no selling skills. Apparently, the advice that the book gave her - to learn about business and develop selling skills - doesn't appeal to her.

I guess she wants a way to get rich that works for people who aren't willing to learn and grow. I admit it. I don't know any such method. If any ETR reader does, please let me know.

Her second criticism, if I can read from context, is that she doubts the eight success stories featured in the book are real. She thinks the idea that they - or that she - could start from scratch and develop a million-dollar net worth is nothing but wishful thinking.

I don't know what to say to that other than she is wrong. The eight profiles in the book are 100 percent accurate. The people are real. Their stories are real. And their wealth is real. Since the book was published, all these people have, in fact, became even wealthier than they were.

This unsatisfied reader is certain that her life's story could never be even "in the same ball park" as those of the eight presented in my book. Given her refusal to learn, to develop new skills, and to believe in herself ... I'd say she's right. If you don't believe you can do something, you almost certainly won't.

Finally, this reader is not pleased with the stock investing advice in  Seven Years to Seven Figures. Here, she is really confused. She says, correctly, that I am not a big fan of passive investing - but she doesn't understand what passive investing means.

Passive investing means putting money in something over which you have no control. That's how I defined it in the book, and I explained exactly why I don't like doing that. This reader seems to be confusing passive investing with conservative investing.

Oh, well. You can lead a horse to water ...

[Ed. Note: Want to get more of Michael's market investing insights? Then subscribe to Investor's Daily Edge. Each month, he will be writing a feature article sharing his experience of over 30 years in the field of financial publishing. In tomorrow's issue of IDE, Michael shares his thoughts on Google's hitting $500 a share and what he thinks of it as an investment. Click here to sign up now.]


"To make mistakes is human; to stumble is commonplace; to be able to laugh at yourself is maturity."

- William A. Ward

7 Ways to Triumph Over Mistakes

By Brian Tracy

There are two ways to look at the world: the benevolent way or the malevolent way. People with a malevolent or negative worldview take a victim stance, seeing life as a continuous succession of problems and a process of unfairness and oppression. They don't expect a lot and they don't get much. When things go wrong, they shrug their shoulders and passively accept that this is the way life is and there isn't anything they can do to make it better.

On the other hand, people with a benevolent or positive worldview see the world around them as filled with opportunities and possibilities. They believe that everything happens as part of a great process designed to make them successful and happy. They approach their lives, their work, and their relationships with optimism, cheerfulness, and a general attitude of positive expectations. They expect a lot, and they are seldom disappointed.
As a result, people with a benevolent worldview are able to deal constructively and effectively with mistakes and temporary setbacks.

When you develop the skill of learning from your mistakes, you are the kind of person who welcomes obstacles and setbacks as opportunities to flex your mental muscles and move ahead. You look at problems as rungs on the ladder of success that you grab onto as you pull your way higher.

On the other hand, two of the most common ways to handle mistakes are invariably fatal to high achievement.

The first common but misguided way to handle a mistake is the failure to accept it when it occurs.

According to statistics, 70 percent of all decisions we make will be wrong. That's an average. This means that some people will fail more than 70 percent of the time, and some people will fail less.

It is hard to believe that most of the decisions we make could turn out to be wrong in some way. In fact, if this is the case, how can our society continue to function at all?

The fact is that our society, our families, our companies, and our relationships continue to survive and thrive, because intelligent people tend to cut their losses and minimize their mistakes. It is only when people refuse to accept that they have made a bad choice or decision - and prolong the consequences by sticking to that bad choice or decision - that mistakes become extremely expensive and hurtful.

The second common approach that people take with regard to their mistakes, one that hurts innumerable lives and careers, is the failure to use their mistakes to better themselves and to improve the quality of their mind and their thinking.

Learning from your mistakes is an essential skill that enables you to develop the resilience to be a master of change rather than a victim of change. The person who recognizes that he has made a mistake and changes direction the fastest is the one who will win in an age of increasing information, technology, and competition. By remaining fast on your feet, you will be able to out-play and out-position your competition. You will become a creator of circumstances rather than a creature of circumstances.

Approach every mistake you make as a special learning experience, sent to teach you something valuable and necessary for your success in the future. Become an "inverse paranoid," a person who is convinced that there is a vast conspiracy in the world to make you successful. Play with the idea that there is a series of guardian angels out there who are acting on your behalf. These angels are regularly planning "learning experiences" to enable you to grow as a person so that you can reach and achieve the great heights that are meant for you.

Whenever something happens of an adverse nature, immediately counteract your natural tendency toward disappointment and frustration by saying, "That's good!" Then, get busy looking into the situation to find out what is genuinely good about it.

In both your personal and professional life, there are seven steps you can take to deal with almost any mistake you make.

1. Approach the mistake with a positive, constructive frame of mind.

2. Define the mistake clearly. Exactly what happened? Write it down. Think on paper. The more clearly you can write about it, the more clearly you will understand the mistake and its possible corrections.

3. Examine all the known causes of the mistake. How did it happen? Why did it happen? What were the critical variables that triggered the mistake? Any attempt to pass over a mistake without identifying how it occurred in the first place will leave the roots of that mistake in the ground, to grow up again in the future.

4. Identify all the possible ways of mitigating the mistake. What are all the different things you could do to minimize the cost of the mistake or to solve the problem that has arisen? The more ideas you have, the more likely it is that you will come up with the approach that will prove most effective.

5. Make a clear, unequivocal decision about how to handle the mistake. Decisiveness is a characteristic of high-performing men and women. Almost any decision is better than no decision at all. Even the most effective leaders make mistakes, but then they quickly make decisions to offset them.

6. Assign specific responsibility for taking the steps necessary to mitigate the mistake within a certain timeframe. Who exactly is going to do what, and when, and how, and to whom will they report? The failure to assign or accept responsibility to achieve results before a specific deadline will leave the situation open-ended, and it will often get worse as a result.

7. Take action. Intense action orientation is a characteristic of the top two percent of the population.

Mistakes and problems are good. Without them there would be no opportunities for greatness. When you take every challenge that life throws at you, accepting it as an inevitable part of the growing experience, you can turn it to your advantage. Almost every mistake you make contains a hidden treasure that you can apply to your life to forge a future that is extraordinary and worthwhile.

[Ed. Note: Now's your chance to see success expert Brian Tracy in the comfort of your living room. His appearance at this year's Info-Marketing Bootcamp is available on DVD, along with the presentations of Michael Masterson and his League of Extraordinary Entrepreneurs.

And pick up a copy of Brian's book The Psychology of Selling.]


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How Aerobics Accelerates Aging

By Al Sears, MD

For over 20 years, we've known that a person's lung capacity is a primary indicator of longevity. This simple fact about aging comes to us from the now-famous "Framingham Heart Study." Simply stated, the bigger your lungs are, the longer you live.

Aerobics - a very popular form of exercise supposedly designed to help you live longer - is a regrettable mistake. Instead of lengthening your life by increasing your lungpower, it does the opposite. In order to cope with the constant stress of long-duration exercise, your body shrinks your lungs over time, making you more prone to chronic disease.

This is bad news. Especially when you consider that your lungs naturally get smaller with age. Aerobic exercise actually causes you to age faster, pushing you into the grave before your time.

My antidote? The "supra-aerobics" program I introduced you to in Message #1870.

[Ed. Note: Hear Dr. Sears, himself, describe his "supra-aerobics" program. Get the instant audio download HERE.]


It's Good to Know: Holiday Tipping Guidelines

By Suzanne Richardson

The apartment complex where I live is fabulous ... mainly because of the people who work here. The office staff is friendly and helpful. The maintenance team is prompt, and they actually go out of their way to help. (The plumber once jump-started my car for me.) So, naturally, I want to show my appreciation with a Christmas gift.

The problem (if there is one) with giving tips is that it can begin to snowball. If I give to the office staff, I should give to the maintenance men. And if they get a gift, certainly my hairdresser should get one. And what about the FedEx guy who's always ready with a joke as I sign for my packages? And the cleaning woman who carefully wipes down the machines in the gym every Monday?

Etiquette guru Emily Post suggests that a handwritten note is the best way to express your gratitude for good service. But if you want to include a little something with your note, she offers some guidelines:

  • Fitness trainer: up to the cost of one session
  • Hairdresser/barber: the cost of one haircut and/or a gift
  • Housekeeper: one week's pay and/or a gift
  • Letter carrier/package deliverer: Check with individual companies. Most do not allow cash gifts. The USPS will allow a gift with a $20 value.
  • Newspaper deliverer: $10 to $30
  • Building super: $20 to $80 (Check to see if there is a holiday fund you can contribute to for all building personnel.)
  • Doorman: $15
  • Handyman: $15 to $40
  • Trash/recycling collector: $10 to $30 (Check local rules if service is municipal.)
  • Yard/garden worker: $20 to $50

For more information, check out EmilyPost.com. Just remember that everyone's situation is different. Give what you feel is appropriate.


* Highly Recommended *

You Can Import Goods From Overseas For Pennies On the Dollar!

It may have been hard in the past for small entrepreneurs to import cheap products from countries like China, but things have drastically changed.

For example, In 1986, total trade between the United States and China was $7.9 billion. By 2005, this total has reached over $170 billion, making China the United States' third largest trading partner.

You can't believe how easy this is. With the right information, you just find products that cost a couple of dollars each and sell them for 1000%+ mark-ups by the thousands with your own Internet sites.

Please click here to read this urgent report.

- Patrick Coffey


Word to the Wise: Effulgence

"Effulgence" (ih-FUL-junts) - from the Latin for "to shine" - is the quality of being bright and radiant.

Example (as used by Washington Irving in The Alhambra): "The setting sun as usual shed a melancholy effulgence on the ruddy towers of the Alhambra."

Michael Masterson
Copyright ETR, LLC, 2006


Have a Question for Michael Masterson?

Want to know the secrets to his success? Have a perplexing business problem? ETR welcomes your thoughts.

Email Michael at AskMichael@ETRfeedback.com.

Have an Idea to Share with ETR Readers?

Be sure to discuss your thoughts, problems, and opinions with other ETR readers on our Speak Out Forum at http://speakoutforum.com/forum/.


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