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WEALTH
You
Can Bet on This
I've
been blessed when it comes to gambling. Except for a few 10-minute
intervals in Las Vegas, I've never won a nickel gambling. But
I do understand how people can have the ego to think they can
gamble and win. During those rare moments when I was winning
- by pulling at the one-armed bandit - I actually convinced
myself that I had discovered some way of tugging at that lever
that was better than the helpless fool next to me.
Having
never had any success at gambling, I've always found it to be
a miserable experience. I don't enjoy it. And therefore, as
I explained in Message
#1397, I don't do it. That's what I know from
experience (my primary or "erfahrung" knowledge).
I know from reading studies (my secondary or "wissen"
knowledge) that gambling simply doesn't pay - except for the
people who are selling the gambling services. (That is, the
casinos, state lottery commissions, and commodity brokers.)
I
once sold information about how to improve your odds of winning
state lotteries. (There are ways - you can increase your odds
from one in 14 million to about 1,000 in 14 million. Big deal!)
I made money doing that, but I never bought a lottery ticket.
I knew better.
-
Michael Masterson
HEALTH
Canary in the Coal Mine
Birds
are highly sensitive to toxic fumes. In fact, before delicate
sensors were used to monitor air quality, miners would bring
a canary in a cage into the mineshaft with them. When the canary
fell off its perch, the miners knew it was time to evacuate.
In
recent years, thousands of pet birds have died as a result of
being exposed to a different kind of air pollution - from what
has been called Teflon toxicosis. It is caused by dangerous
particles and gasses that are emitted when Teflon-coated pans
and ovens are heated - overly heated, according to DuPont. The
company has always maintained that Teflon should not be used
with high heat. Even so, the death of many of these birds occurred
when the products were being used normally.
Here's
what you need to know to protect the health of your family (and
pets):
- DuPont's
studies show that Teflon will break down and release toxic
particles at 446°F.
- Anything
over 680°F and Teflon will release at least six toxic
gasses, including two carcinogens and a chemical lethal
to humans, even at low doses.
- Allow
the pan to reach 1000°F, and non-stick coatings will
release two known chemical warfare agents.
If
you choose to cook with Teflon, do NOT pre-heat the pan, and
never allow the fluids in the pan to completely cook off. Also,
be aware that many ovens are Teflon-coated and the self-cleaning
mechanism can raise the temperature well over 500°F.
Safe
alternatives include cookware made with stainless steel and
cast iron, neither of which emits harmful pollutants.
(Reference:
Environmental
Working Group)
-
Jon Herring
WISDOM
How
Important Is the CEO?
Writing
in the Daily
Reckoning about certain high-profile CEOs who
have been tried for various crimes and misdemeanors, Bill Bonner
referred to a study which shows that the average CEO made $9.97
million last year. Bonner wrote:
"[This]
confirms what everyone already knows - CEOs are paid a lot more
than they're worth. ...
"Why
pay these guys so much? Would they be less motivated with $8
million? Would they be able to quit their second job... or allow
their spouse to stay home with the kids... if they only earned
$7 million? Would companies be unable to find qualified candidates
if they offered only $6 million?
"We've
been running a company for a quarter of a century. We'll let
you in on a secret, dear reader. The larger a company becomes,
the less important the CEO really is. As the business grows,
other people take over the important jobs. The CEO becomes a
figurehead - someone who cozies up to Wall Street financiers
and reassures lumpeninvestors. (See "Word to the Wise,"
below.) The job is so mindless even a U.S. Senator could do
it. And he'd be a lot cheaper. Trouble is, everyone knows politicians
are hopelessly incompetent. What they don't realize is that
many CEOs are hopelessly incompetent too."
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TODAY'S
MESSAGE
Why
ETR Still Doesn't Have an Internet Marketing Program
by
Charlie Byrne
It
was just before lunch when I saw Stephanie, our marketing intern,
angrier than I'd ever seen her before.
She
had just stormed out of Michael Masterson's office. "What
happened?" I wondered.
"I
spent a month working on this thing!" she told me. And
now it's all gone to hell."
"S&%#!"
I
felt really bad. It was all my fault.
You
see, a month earlier, Stephanie had brought me a new "Doing
Business on the Internet" product to look over.
"We're
thinking of recommending it to ETR readers," she said.
"What do you think?"
I
spent about an hour studying it. The author had very good credentials.
And the course was packed with information. I'm not an expert
on Internet marketing per se, but the course was filled with
buzz words that I recognized - like "viral marketing"
and "Web optimization," and so forth. I told Stephanie
I thought it would be fine.
And
that's where I made my mistake. Because I never asked Michael
what he thought. Michael and I share many views about business
and are almost always compatible when it comes to making decisions.
But he has actually overseen hundreds of millions of dollars
in Internet business, whereas I have been pretty much on the
sidelines.
When
he saw the course that Stephanie brought him, it took him five
minutes to toss it back at her.
"There
is nothing in this course that I know to be true," Michael
told her. "I don't trust it, so I'm not going to recommend
it."
"But
you don't know that it's wrong," Stephanie countered.
"Yes,
but our policy is to recommend only products that we know, from
our own business experience, to be truthful and valuable. This
doesn't meet that test."
Stephanie
was devastated, so I went in to talk with Michael and try to
convince him to at least test the product.
"Let
me ask you something," he said to me. "You've seen
tens of millions of dollars worth of Internet business transacted
since you began working with ETR and the Agora Learning Institute.
Right?"
I
agreed.
"And
in that time, have you ever seen us use any of the ideas this
course is talking about?"
"Well,
no.... but..."
"But,
nothing," he said.
"Bring
me a program that we know works. Bring me a program that you
can feel 100% confident will work for ETR readers. Bring me
a program that gives the ordinary amateur... the regular guy
without a lot of money, with no expertise, and with very little
marketing knowledge... the tools he needs to get in on the Internet
bonanza."
"But..."
"We
did that, didn't we? We started ETR from scratch... on a budget
of less than $2,000... and now it's a $3 million business. Isn't
that so?"
"Well
yes, but..."
"And
you've seen what AWAI has done and what so many of the other
companies we've worked with have done... dozens of ventures,
each making millions of dollars. Doesn't that tell you something?"
"Well..."
"Right.
It tells you that we have to find a program that tells all our
secrets... all the specific tricks and techniques we've learned.
A course that our readers can understand immediately, put to
use immediately... get going without spending a lot of money.
Yet one that will give them a good chance of making it big."
"Okay.
We'll get on it."
This
was late in 2004 and, once again, Early to Rise still didn't
have an Internet marketing program to recommend. We kept looking,
but every time we found one and asked, "Would we actually
do this ourselves?" - the answer was "No!"
And
that's when it hit us.
In
just the past six years - while dot-com companies were failing
left and right, while Internet "gurus" were popping
up everywhere and handing out all kinds of bad advice - our
parent company (our very own company!) had quietly made nearly
$200 million on the Internet. When this current year is in the
books, we'll have reached almost a quarter of a billion dollars
in sales online.
It
had been sitting there all along, right in front of our faces:
- We're
the ones that know Internet marketing better than most of
the so-called experts.
- We're
the ones who've flown in the face of the flashy trends and
instead stuck with our unique (but solid) marketing techniques
that just plain work, Internet or otherwise.
- We're
the ones who actually know how to make millions on the Internet.
(2002: $27 million. 2003: $49 million. 2004: $65 million.
2005: $80 million projected.)
And
if you think those numbers are only possible because we started
out as a large "brick and mortar" company, just take
a look at what a few of our individual "intrapreneurs"
have done online in the past few years:
1.
One former product manager applied our Internet marketing
strategies to a line of health products that quickly grew
into a $35 million a year business.
2.
An assistant editor, making $19,000 a year at the time, used
these same techniques to start and grow his own division.
And in just a few short years, he built an Internet business
that made him a millionaire.
3.
While working for us as an intern, a former college
philosophy major used our formula to market financial information
over the Web. Just last year, his business generated $5,000,000
in profits.
4.
A colleague and close associate of ours applied our model
to his business - increasing his subscriber list to over 1,000,000
names... and more than doubling his profits.
5.
Another colleague earns a multiple six-figure income
from an e-mail list of less than 7,000 names - proving that
you don't need tens of thousands of names to make a fortune
online.
Since
we realized that perhaps the most successful Internet marketing
"program" in the world has been sitting right in front
of our faces all this time, here's what we've done:
- We've
spent the past two months reviewing all of the best Internet
marketing successes in the company, laying out exactly how
and what made each one work. We then honed all these techniques
into an easy-to-follow cash-generating system - just like
the $10 million+ systems used by the five people I just
told you about.
- We've
turned that system into what is pretty much a turnkey program
that you will be able to use to sell just about any product
or service online.
- We've
lined up some of our in-house marketing superstars and asked
them to tell you their stories of how they did it - and
show and explain exactly how you can do it too.
If
this no-B.S. plan for making serious money on the Internet sounds
like something you might be interested in, there are two steps
you should take right now.
First,
go ahead and make a note on your calendar for May 24th. That's
the date of our first-ever Internet marketing teleconference,
where we will give you more useful information about Internet
marketing than you'll ever get from 99% of the books, seminars,
and programs out there.
Listen
in on this teleconference, and you'll find out how to market
your own products the same way we market ours. You can reserve
a space for this one-hour event for a token fee of about $20
by clicking
here.
The
second step you should take is to make another note on your
calendar, this one for July 22-24 when we'll be hosting an extraordinary
3-day seminar near our corporate headquarters in Baltimore.
On
that weekend, a small group of future Internet marketing geniuses
(you can be one of them) will be learning the ropes - live,
in-person, and hands-on - from some of the top master marketers
at our company.
We
have never done anything like this before. But it's the only
way we can in good conscience (and with Michael Masterson's
approval) finally present an Internet marketing program that
we are proud of.
It
has to be, as Michael demands, a program that we would actually
do ourselves. And it has to provide huge and genuine and unique
benefits to everyone who participates in it.
The
more I think about it, the more I realize that it's almost like
we're "giving away the store." But, of course, we're
not going to be giving it away. In fact, the Baltimore seminar
is going to be top-shelf all the way. That means expensive.
(But I think you'll agree that it will be well worth it to learn
from real people who are really making millions of dollars themselves.)
One
other thing...
Many
of the folks from our company who will be presenting at this
seminar not only will be giving up their weekends but, more
importantly, already have their own million-dollar businesses
to run.
So
I'm telling you in all candor... we may never be able to talk
them into doing this again. In fact, we had to call in some
pretty hefty favors to get them to agree to doing it just this
one time.
We'll
give complete details on the Baltimore seminar at the upcoming
teleconference. But if you are even thinking about reserving
a space for Baltimore, you should do so now. ETR goes out to
over 400,000 people. And while we are expecting (and are prepared
to handle) a huge turnout for the teleconference, the exclusive
in-person Baltimore seminar will be strictly limited to only
100 attendees.
If
you wait, it could be sold out before you even have a chance
to register. So your best bet is to call our Customer Service
Executive, Charles Delvalle, at 866-565-1117, Ext 1.
I'll
be listening in on the teleconference, and I've already made
plans to fly up for the Baltimore seminar. After all, I wouldn't
mind building one of those $10 million Internet companies very
soon myself.
(I'm
so sure this is going to be the most valuable weekend of my
summer that I begged my Aunt Eleanor to change the date of our
big family reunion. It was scheduled for the same weekend. She
did. Thank you, Aunt Eleanor!)
It's
been a long time coming, but very soon now, we'll finally be
able to say, "Yes, ETR DOES have an Internet marketing
program."
And
you can be sure it will be the best one out there.
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factual. They are all based on experience.
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COMMUNICATIONS
The
Most Aggravating Business Cliches
The
way you communicate your ideas really does matter. When you
choose words and phrases that have been used so often they have
pretty much lost their meaning, it becomes just plain annoying
to your reader/listener. Among the more aggravating business
cliches, according to a survey of 1,000 companies done by Accountemps,
are:
- Core
competency
- Take
it offline
- Customer-centric
- Value-added
- Win-win
- Metrics
-
Andy Gordon
TODAY'S
ACTION PLAN
Do
you have a pet-peeve business cliche that drives you crazy?
Let us know about it on Speak
Out. We'll publish our favorites in ETR.
What
better way to create an exciting "synergy"
that "at the end of the day" gets
us "on the same page" by "thinking
outside the box"?
(That's
another four the Accountemps survey mentioned.)
WORD
TO THE WISE
The
word "lumpen" (LUM-pun) generally
refers to the lowest, most degraded level of a population. "Lumpenproletariat,"
for example, was originally used in Marxist theory to describe
those members of the proletariat, especially criminals, vagrants,
and the unemployed, who lacked class consciousness.
Example
(as used by Bill Bonner in today's Wisdom brief): "The
CEO becomes a figurehead - someone who cozies up to Wall Street
financiers and reassures lumpeninvestors."
