* 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!
-
Patrick Coffey
"A
goal without a plan is just a wish."
-
Larry Elder
The
Business of Martial Arts
By
Michael Masterson
Every
year, I provide business advice to one or two friends or family
members who need it (and are prepared to accept it). In past
years, I've worked with MJ (who wanted to start a personal
services business), IR (who wanted to transition into a new
job), LC (whose electronics business was foundering), and TY
(who was looking for a career in real estate) ... to name a
few.
This
year's major project has been Jeremy. For many years, he owned
a successful martial arts instruction studio. But in the past
few years, due to reasons beyond his control, many of his students
stopped showing up.
I
talked to Jeremy several months after he realized his business
was in trouble. We talked about the possibility of him declaring
bankruptcy and walking away from it - but his studio lease
was tied to his personal credit, and his home had lots of equity
in it. That made bankruptcy a bad route to take.
Before
I get on with Jeremy's story, let me say that if you can possibly
avoid it, you should never attach your personal credit to a
retail or commercial lease. Although it may look like you'll
never have to worry about the connection, bad things can happen
to businesses. And you don't want the wealth you've accumulated
to diminish or disappear because of a business failure.
Most
landlords will insist that you sign the lease "personally." But
some will forgo that requirement if (a) it is a renter's market,
(b) you insist, or (c) you put up some asset (something you
don't mind losing in a worst-case scenario). It's not always
easy to get them to do this, but it is possible. (I know, because
one of my greatest mentors never personally signed a lease
in all the time I worked with him. And there were millions
of dollars' worth of assets involved.)
Back
to Jeremy ...
With
bankruptcy pretty much out of the question, Jeremy tried to
revive his decimated business by doing local advertising. That
brought in just enough business to give him hope, but not enough
to pay all the bills. To keep from going into debt, he supplemented
the salary he was getting from his studio by coaching and judging
international martial arts competitions.
This
went on for another year or two. He was making enough to live,
but the studio - still strapped by a lease with a now comparatively
high monthly rent - was not profitable.
At
one point, Jeremy considered taking a new angle on his business
- focusing on teaching women how to use martial arts for self
defense. He came up with a catchy name for it and did some
advertising.
I
thought it was a promising idea. I liked the narrow focus,
and the entire martial arts market was strong. I advised him
to connect with women's clubs, women's shelters, local gyms,
and any other places that might have access to his prospective
clients. It seemed to me that would be the best and most productive
way to sell his new service.
I
also told him to do some public relations work. Given his resume
(he has been a martial arts consultant for many big Hollywood
movies and has appeared on television in national competitions,
among other distinctions), I thought it would be relatively
easy for him to get magazine and television coverage.
Sadly,
the self-defense program never took off as we had hoped. So,
for the past two years, Jeremy has been making most of his
money from coaching and judging.
Jeremy's
studio is currently breaking even. That is, it is paying for
rent, utilities, and teachers' salaries. Jeremy is drawing
a small salary from it for his own teaching, but is not paying
himself for running the place. He is working two jobs (managing
the studio and coaching/judging competitions), and is barely
making ends meet.
Because
he has to travel for his second job, it keeps him away from
his family. That, he doesn't like. But for the moment, he feels
stuck because he needs the income. In fact, his situation is
a Catch 22: To develop his studio, he needs to spend more time
there ... but he can't afford to spend time there, because
he needs to be away earning income from judging and coaching.
He
is mentally fatigued after so many years of trying, and has
been contemplating a career change. He recently invested some
time and money in home-business programs - but because he hasn't
made a clear-cut decision about what to do, he's been continuing
to drift around in career limbo.
Everyone
gets tired of what they're doing at some point in their career.
If you are like me, you get tired of the routine every six
months and completely fed up every three or four years. When
you get those feelings, you have to do something about it.
And in most cases, what you should do is change your feelings
... not your career.
It's
normal to doubt yourself when your business career doesn't
meet your expectations. It's especially frustrating when factors
beyond your control devastate your progress. But if you have
a financially valued skill and are involved in a growing, viable
market, it's usually a good idea to stick to what you are doing
rather than jump ship and try something entirely new.
In
Jeremy's case, he's not only in a hot market (martial arts),
he also has several important financially valued skills that
are related to that market:
- He
is a world-class martial artist.
- He
is a very good teacher, and his students love him.
- He
understands how to sell his services.
It
took Jeremy years to acquire and master those skills. It would
be foolish of him to abandon them now unless he (1) really,
really hates the business or (2) truly believes it could not
possibly provide him with the income and equity opportunities
he is seeking.
In
fact, Jeremy enjoys teaching and believes in the business.
When he and I met a few weeks ago, he told me that he even
has a clear-cut vision for how he could bring his business
back up to the half-million-dollar gross level where it once
was. His problem? Not enough time or money to implement his
plan.
His
plan is relatively simple: to build his business month by month
by hiring full-time teachers, teaching them how to sell lessons,
and then supporting them with strategically placed local advertising.
He said he has a good idea about which publications would be
good for his advertising ... and he knows he can train teachers
to make sales once he gets people in the door for trial lessons.
He
figures it will cost him about $2,000 a week ($800 in salaries
and $1,200 in ads), and that he can get his business operating
profitably in three to six months.
I
advised him to put together a short (four-page) business plan
predicated on a 12-month timeframe. (I've found that an entrepreneur's
expectations for growth are always overblown - even when, as
in Jeremy's case, he has plenty of past experience.)
The
key to success for Jeremy is to secure the time and money he
needs to work full-time - 50 to 60 hours a week - on building
his studio back to where it was. To do that, he has to borrow
money so he can give up coaching and judging. His business
plan should be based on securing a loan of between $25,000
and $100,000 (depending on whether he can get the cash flow
he needs in three months or if it will take him longer than
that - up to 12 months).
"You
have to approach this as a last-chance, do-or-die situation," I
told him. "But if the market is as strong as you say it
is - and if you do everything you know how to do - I'm 100
percent certain you will succeed."
When
Jeremy finishes his business plan, we'll talk about finding
him the money he needs to implement it.
[Ed.
Note: Since writing this essay, Michael tells us that Jeremy
came up with a strong business plan that has been working well.
He had no trouble finding the money to finance his business,
and his optimism is growing.]
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Before
Wall Street Discovers the Stealth Market in Uranium
Thirty years ago, the biggest energy giants walked away from
millions of acres of land with proven uranium reserves… land
that wasn’t worth exploiting when prices hit rock bottom.
But one company grabbed the best of that land for as little as
$1 an acre.
Now,
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reserves has increased more than 1,300%... yet you can still
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But
you’ve got to jump on this now before Wall Street discovers
the stealth bull market in uranium. Once they do, this stock
is going to POP. Get
the full story here.
Reader
Feedback: "I read with interest your critique of Why
We Want You to Be Rich"
"Just
wanted to say 'thank you' for your ETR newsletter. I have been
a subscriber for a little over 2 years now, and have found
it to be about the most useful and beneficial e-zine I receive!
"In Message
#1867, I read with interest your critique
of Robert Kiyosaki & Donald Trump's philosophy on
wealth accumulation in their new book Why
We Want You to Be Rich, and found
your differing approach to accumulating riches intriguing
enough for me to buy your book Seven
Years to Seven Figures. I'm actually
listening to Kiyosaki & Trump on an audio version
of their book and reading yours at the same time. It
appears that there are similar philosophies put forth
in both books, however I will know better once I've completed
both.
"My
wife and I have also found the Main
Street Millionaire program to be very
exciting - and, in fact, she is doing extensive research on Self-Directed
IRAs as part of our own retirement planning.
"Didn't
mean for this message to be this long, however I did want to
let you know how much I enjoy your book and your ETR newsletter."
Dan
R. Pressler
Tucson, AZ
How
to Turn a Business Trip Into a Career Booster
By
Suzanne Richardson
You're
about to go on your first business trip with your boss. Instead
of seeing this as a nightmare, look at it as another chance
to show her what a superstar you are.
Travel
writer and corporate psychologist Terry Riley (author of Travel
Can Be Murder) suggests that you prepare
for such a trip by getting to know your boss - learning about
her hobbies, favorite foods, and family - so you'll have things
to talk about. Riley also cautions you to avoid controversial
topics like "politics, religion, sex, and personal hygiene."
Good
advice? Well, if you have half a brain, you're going to avoid
venturing into dangerous conversational territory. And your
boss's personal life is actually none of your business.
Riley
does offer one good idea: Over-prepare. If you plan ahead for
potential mistakes, you'll prove to your boss that you can
handle the unexpected. That may mean doing a little research
before the trip. For example, Riley recommends arming yourself
with the name of a nearby hotel in case yours has been overbooked.
And bringing along hard copies of all speeches and PowerPoint
presentations.
But
if you really want to dazzle your boss on a business trip,
it's not going to happen Riley's way. It's going to happen
because you've shown her that you are a good thinker. So try
this strategy ...
Spend
some time before you leave thinking about how you're going
to help make the company more profitable in the next 12 months.
Combine your best ideas, put together a nice little action
plan, and present it to her during the flight. She'll be impressed
that instead of watching a movie or sleeping, you're spending
your time making her job easier.
[Ed.
Note: Want to leave your boss behind on your next "business" trip?
You can trade your job for an exciting career that earns you
$100,000 or more a year and lets you explore the world like
a VIP. Learn how by listening in on AWAI Travel's live teleseminar "How
to Fund Your Travels" on December 12. Sign up here:]
Follow
Big Pharma Back to Nature
By
Jon Herring
The Wall
Street Journal recently shed light on something the
big pharmaceutical companies would prefer you didn't know:
Swiss drug maker Novartis is trying to tap into the thousands
of years of experience the Chinese have with using plants
as medicine. The company recently invested $100 million in
a pharmaceutical R&D center in Shanghai, and is collaborating
with a Chinese botanical institute to ferret out many of
the rare plants and herbs used in Chinese medicine.
The
drug companies would like you to believe that their drugs are
invented out of thin air, and that there are no other options
for you to consider. This idea is reinforced by the legions
of pharmaceutically oriented doctors who suggest that herbal
remedies and nutritional supplements are ineffective, potentially
dangerous, and not supported by science.
But
nothing could be further from the truth. In his book, Health
Myths Exposed,former drug chemist Shane
Ellison writes, "There is an abundance of science behind
nutritional supplements; otherwise, drugs would not be possible.
The design of prescription drugs is guided by knowledge obtained
from plant-based predecessors."
Fact
is, most drugs are based on natural compounds. Accordingly,
most drugs have natural alternatives - safer and less expensive
alternatives, at that. So, to preserve your health, remedy
an illness, or boost your immune system, start by changing
your diet. Then do as the pharmaceutical companies do: Look
for nutritional supplements and herbal remedies that are known
to be effective.
The
Best of the Holidays: "The Miracle" on 34th Street
By
Jessica Kurrle, ETR Marketing Department
For
me, one of the best parts of the holiday season is The Miracle
on 34th Street. No, not the movie. Not 34th Street in New York.
I'm talking about 34th Street in a little neighborhood in Baltimore
City named Hampden. It's a tightly knit, eclectic community
that's famous for plastic pink flamingos on the front lawns,
John Waters movies, 50s retro beehive hairdos, and the catchphrase "HON" (pronounced "hun").
Best
of all, it's famous for "The Miracle" - an affectionate
nickname the street has been given by Baltimoreans. ("It's
The Miracle, HON!")
Each
year, this little street shuts down for a parade and festival
that starts the weekend after Thanksgiving. Hot chocolate vendors
and people with their dogs and kids crowd the street to marvel
at the wonder that is The Miracle. Santa arrives on a fire
engine, and has the honor of "lighting the street." And
believe me when I tell you, it's quite a display! All the homeowners
on this little block decorate their houses, inside and out,
with wonderfully kitschy Christmas lights.
For
more info (and pictures of the gussied up houses), check out
christmasstreet.com.
* Highly
Recommended *
The
Only Three Ways to Grow a Business
Did
you know that there are only three ways to grow a business?
1. Increase
the number of customers.
2. Increase
the average transaction value.
3. Increase
the frequency of repurchase.
Find
a way to maximize each one, and your business will experience
an astonishing rate of growth.
In
his "9 Pillars of Business Growth" program, acclaimed
consultant Jay Abraham outlines hundreds of proven, frequently
unrecognized, and almost totally underutilized ways to grow
these three key areas of your business. If you own a business
(or would like to), be sure to take
a look at Jay's program.
-
Patrick Coffey
Word
to the Wise: Antediluvian
"Antediluvian" (an-tih-duh-LOO-vee-un)
- Latin for "before the flood" - refers to the period
of time before the Biblical flood. By extension, it is applied
to anything that is very, very old.
Example
(as used by Julia Keller in the Chicago Tribune): "Anyone
who asks, 'Yes, we can - but should we?' about any technology
risks being branded an antediluvian."
