ETR Reader’s Opportunity of a Lifetime
Issue #2383
- WEALTHY: You don’t have to guess which company will take off next (Christian Hill)
- HEALTHY: You may think you’re eating the "healthier" meat… (Kelley Herring)
- WISE: William James on opportunity
ALSO IN THIS ISSUE:
- The first 3 steps to starting a business (Michael Masterson)
- What you should always do when speaking to a customer (Suzanne Richardson)
- It’s Good to Know… about a cure for jet lag
- Add "raillery" to your vocabulary
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You’re going to walk in with nothing – no product, no marketing skills, no technical know-how – and you’ll walk out with your own online business. Imagine having that less than one month from today!
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- Charlie Byrne
A Safe Way to Get a Technology Play
One ETF (exchange traded fund) – which is laden with some of the biggest names in technology – is set to offer outstanding returns once the economy recovers. I’m talking about the technology SPDR (XLK), and it allows you to own a "who’s who" of the technology industry, including Microsoft, Google, Intel, Hewlett-Packard, and Apple.
The blue-chip companies amongst XLK’s holdings are at the forefront of developing new industry-leading technology. And for most of them, it is a matter of when, not if, they will develop the next cutting-edge, "must have" software application or product and see their stock take off and produce huge returns. With XLK, you don’t have to guess which one of those companies will be next, because you can own a share of all of them.
XLK’s holdings are very well diversified. So if one or two of the companies fall, the overall effect on the ETF is muted.
XLK is currently trading at the $25/share level, and I expect it will climb toward the $30/ share level in the next 12 months. That would be a nice gain of 20 percent. And if things really get going, I don’t think $35/ share is out of the question. The support level seems to be around $22/share, so the downside is only around 12 percent.
Adding XLK to your portfolio could provide great returns while giving you diversity in the technology sector.
[Ed. Note: Making money IS possible - even in an economic downturn. In fact, one of ETR's investing experts has had 13 winners in the last 90 days - between 46% and 175%! Find out how you can get returns like these right here.]
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"He who refuses to embrace a unique opportunity loses the prize as surely as if he had failed."
William James
ETR Reader’s Opportunity of a Lifetime
By Michael Masterson
Karen, an ETR reader from Santa Monica, wrote to ask what I thought about "the chance of a lifetime" she’d just been offered.
"My next-door-neighbor, who is a very successful businesswoman, has offered to advise me in setting up a consulting business in an area in which I have a lot of experience and knowledge – going green," writes Karen. "Her advice is consistent with what you say in ETR, such as to focus on finding clients before you do anything else."
She continues, "I don’t rub shoulders with the type of people who would hire me at the rates my neighbor is suggesting I charge. She has a few people she will talk to for me, but what should I be doing right now to ensure the best chance of success? I am working on writing articles for a blog or e-mail newsletter, designing a business card, and putting together a loose structure for the business. My neighbor has even offered to loan me money to place an ad in the paper, which is a risk that makes me uneasy but that I’m willing to take.
"Can you give me some idea as to what I should focus on first, second, and third? And do you have any suggestions as to the best low-budget way to find customers?
"I am so grateful for any advice you can give me. If it wasn’t for ETR, I don’t think I would have even recognized what a great opportunity this is, so thank you for the newsletter as well!"
It’s funny how many letters I get that ask questions I’ve already answered, in detail, in one of the business books I’ve published.
Maybe it’s not funny. Maybe it’s sad. Why don’t ETR readers read those books before asking their questions?
It can’t be the money. You can buy my books for about 20 bucks apiece online at Amazon or Barnes & Noble. Twenty dollars. What a deal! When I work as a consultant, my minimum fee is a million bucks. Hmm.
In any case, I’m going to answer Karen’s question briefly. The steps I’m going to recommend can work for almost anyone who wants to start a business. But I will politely suggest that if you’re in Karen’s situation, you can get a longer and more detailed answer by reading Ready, Fire, Aim and checking the ETR Archives for past articles on how to start a business.
Step 1. Figure out what you are going to sell.
- Personal consulting?
- E-mail consulting?
- An information product?
- A hard product?
There are advantages and disadvantages involved in each choice. Talk to your consultant friend. Read my book. Read past ETR articles. Make a decision.
Step 2. Figure out how you are going to sell it.
- By Internet?
- By phone?
- By personal sales presentations?
- By direct mail?
Pick the method that gives you the best chance of being successful right away. You don’t have any capital now, so you need cash flow. Each of the above marketing channels has its own unique personality. Select the one that makes most sense for you – again, relying on my book and information you’ll find in past ETR articles. Then learn everything you can about how to market that way.
Step 3. Set up a series of small marketing efforts to test your idea about how you are going to sell your product.
Don’t make any big commitments – either financial or time-wise. Do as many tests as you can in the shortest amount of time possible spending only what you need to spend. Again, you can get lots of good information about test marketing from my book and past ETR articles.
When you find a test that works, roll it out aggressively. You can find out how that is done in my book and past ETR articles.
As far as your neighbor is concerned, you are right to be cautious. Why is she doing this? Is she a nice woman? Or does she have some ulterior motive? If she’s a nice person, does she know how to market? It may be tough for you to say because you are not a marketing expert yourself.
Tell her that you really appreciate her offer and want to take her up on it, but you would like to do everything properly. Tell her that if she helps you, she must be compensated. Ask her exactly how she wants to be compensated. Obviously, you can’t afford to pay her cash. But if she is really trying to help you, she’ll take a percentage of your profits. That’s more than fair.
Suggest a three- to six-month contract that is renewable at your sole discretion. Don’t agree to give your neighbor ownership in anything until after that contract has expired and you have enough experience to decide if you want her to be your partner. If she does come through, she will be worth her weight in gold. When I work on a percentage basis, my consulting fee is four percent of gross revenues. If she’s the great person we are hoping she is, she should be happy with that.
This is, I realize, a very general outline. You will have to read my book and some past ETR articles to fill in the blanks. If you do that and things start moving along, then I suggest you invest in one of ETR’s Internet or direct-mail marketing programs when you get to the point where you need to start marketing. Your neighbor’s offer to help fund you might come into play then. Be sure, when you write up your short-term contract with her, that you are not required to pay her back if the business doesn’t move forward for any reason.
That’s a start. Let us know how you do.
[Ed. Note: Deciding to start an Internet business is the hard part. Putting it together is easier than you may think. ETR's team of Internet marketing experts can help you create a fully functioning online business in just 5 days. Learn more here.]
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Turn A Single $100 Investment Into A $2,000-A-Week Profit Machine
In the next seven days, 4,589 people will leave their jobs, never go back… and have all the money they will ever need.
I would tell you that these people are “very lucky,” but the fact of the matter is that there is no luck involved.
It’s happening everywhere. Ordinary people — including people who never finished school -– starting their own businesses…and making in the neighborhood of $40,000…$60,000…even $100,000 or more a year.
Even though all these people are “ordinary” in some ways, one thing is certainly “out of the ordinary” about them:
Many used the same secret to start a business on less than $100. You can do it, too. Here’s how.
- Charlie Byrne
Service With a Smile
Your customers don’t care how bad you’re feeling today. Even the nice ones.
Maybe your dog died. Or you just broke up with your girlfriend. Or you didn’t get a wink of sleep. But the second you reveal any of that to your customers – via a lackluster expression or tone of voice – you risk losing their business. Fortunately, there’s a very quick and easy way to prevent your customers from sensing that all is not well in your personal life. Smile.
That’s it. The simple act of plastering a big (even fake) grin on your face will make you look and sound happy, alert, and interested in what your customer has to say. And it works with telephone conversations as well as conversations in person.
I called up a drycleaner the other day to see if they could get a coffee stain out of a linen dress – a dress I need to wear this weekend. The woman on the line sounded bored out of her skull. And maybe she was. Had she merely smiled, she would have sounded like she actually gave a damn about my problem. Instead, I got the impression that she hated her job and maybe even her life. I knew without a doubt that she’d rather be doing anything than helping me out. So I found another drycleaner.
When you’re smiling, you sound friendly, compassionate, and sincere. And that can convince your customers that you are thinking about them and only them – not the feud with your brother or the termite damage to your house. So when they talk to you, they’ll have confidence in your ability to deliver good service and resolve any problems they may have. They’ll trust you right off the bat. And as long as you don’t disappoint, they’ll return to do business with you again and again… and bring their friends.
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The Other White Meat vs. Fish and Beef
ETR reader Larry F. wrote to us recently with a concern about the health benefits of pork.
"You often write about the benefits of grass-fed beef, wild-caught fish, free-range chicken, and organic eggs," he said. "But I don’t recall your talking about the health benefits (or lack thereof) of pork."
The truth is, there’s not a whole lot of information out there about the health benefits of pork. It’s a decent source of protein… but doesn’t have much else going for it. One reason we recommend wild-caught fish and grass-fed beef in ETR is that they contain healthful omega-3 fatty acids. Omega-3s provide a myriad of health benefits ranging from balancing blood sugar and protecting against heart health to protecting against cancer and even Alzheimer’s disease.
So go ahead and enjoy organic, nitrite-free pork that’s been naturally raised. But if you’re trying to get the most out of your protein, stick to fatty fish – like wild salmon, sardines, and Pacific halibut – and grass-fed beef.
[Ed. Note: Eating the right foods is one of the best ways to stay healthy. Get more information about what you should be eating here. And be sure to check out the expert advice and free recipes at Kelley's site, www.HealingGourmet.com.
If you have other questions for ETR's health experts, e-mail us at AskETR@ETRFeedback.com. Include your name, hometown, and state, and we may respond to your e-mail in ETR.]
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It’s Good to Know: A Cure for Jet Lag
Waking up at 3 a.m., falling asleep in the middle afternoon… jet lag can be a real hassle when you’re starting out on a vacation or business trip. You’ve probably heard many cures, but researchers at Harvard Medical School have another one to try: Starve yourself. A recent study of lab mice found that fasting for extended periods will reset the body’s internal clock to a new time zone.
The researchers have not conducted human trials, but they recommend that travelers wishing to try this technique skip a meal or a couple of meals before flying overseas. Eat only when you would normally eat in the time zone to which you are traveling.
(Source: Reuters)
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Word to the Wise: Raillery
"Raillery" (RAY-luh-ree) – from the French for "to mock" – is good-natured banter or teasing.
Example (as used by Peter Brooks in World Elsewhere): "I moved from one knot of people to another, surrounded by a kind of envious respect because of Sophie’s interest in me, although subjected to a certain mordant raillery from some of this witty company."
[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 new Words to the Wise CD Library.]
Copyright ETR, LLC, 2008
dear .sir I have been trying to make this online busness work for about 9 mo.s. I dont have a lot of money all i had i put it in this busness .plese tell what too do willie davis Thank you.
first start out very simple. Find a product and get out and sell it. Then reward yourself by automating more and more of your business and giving yourself some time off. Maybe start out selling someone elses product on clickbank on a blog, write reveiw articles on the blog and start building traffic in any and every way possible. Then start buying traffic and backlinks. Start buying private label articles and hiring people to write for you.
then you can buy an autoresponder and have your messages emailed.
Then you can start buying web templates and hiring designers.
then you can start buying established profitable websites and doing things to automate them.
build off of your success and reward yourself with more success and more time to do what you want.
quote from this article:It can’t be the money. You can buy my books for about 20 bucks apiece online at Amazon or Barnes & Noble. Twenty dollars. What a deal! When I work as a consultant, my minimum fee is a million bucks. Hmm.
well then…i guess you have lost sight of what it is like NOT to have money to some degree..because YES it IS the money…for some people it takes 3 hours of hard work to buy something for 20 dollars- myself 2 hours…i can’t just ‘buy’ a 20 dollar item i can’t eat or use as fuel for my car or home without some serious consideration or ’saving up’ for it….have you heard the news that anyone in this country making 40 thousand a year or less is considered at poverty level? most of ‘us’ are there…i get your newsletter and see lots of great advice and sometimes WISH i could use it…but yes it IS the money…some of us are ’stuck’ and as much as one may envision not being stuck and want to take a risk….when your car breaks down and sucks all the money you had ‘put aside’ for an emergency or perhaps SOMEthing you might enjoy….it IS the money…sorry, i know 20 dollars is not considered alot for a book these days…but for some of us it is…and i know you have to charge for your book and i certainly do not think you should give it away….but i DO think you need to be a tad more aware of just how much 20 dollars IS to some people…
Donna: You are correct that $20 is alot to most people out there who would be motivated to better themselves by following the advice in ETR. I have found that Michael’s books are excellent but I did not get them until I had exhausted the “free” advice in the newsletter. In my experience, you can find what you need in the articles and when you are profitable you can get the books. I have purchased a small franchise with $0, started a website (not profitable yet) and ALL WITH ONLY THE ADVICE FROM THE NEWSLETTER. Then I read the BEST book ever written for the entrepeneur “Confessions of a Self-Made Millionaire”. This book enabled me to purchased an already profitable website/distribution biz. Some peole need motivation, some knowledge and some others a reality check. ETR provides it all. Please do not get discouraged!
Donna, I felt the same thing when I read that $20 comment…PLEASE check out the local library first and read it for FREE…or if it’s not there, you can request they get it. Worst case, buy it used! Use your $20 for something else for your biz. Also, maybe your neighbor really is just nice and wants to give back for free. Check out SCORE.org which is what these folks are doing. I started my own biz with little money. You just have to be smart about it…don’t spend what you don’t have to.
Sorry, I meant to say “the neighbor” not “your neighbor” as I was referring to the original article. (Basically, I just want to make sure folks are aware of score.org.) Good luck!
i am just interesting in it
i donot know what should i do frist
Yes, for some people it is the money, for others it is the attitude. Weeks ago, I had Ready, Fire, Aim on my purchase list until I read an ETR where Mr. Masterson was berating ETR readers, about what I don’t even remember.
Successful people can be forgiven a certain amount of arrogance. With their rise to success, they have earned the right. However, too much arrogance can have a negative impact. Mr. Masterson’s arrogance frequently shows in his articles.
In this issue (#2383) I find it ironic that Mr. Masterson has such a negatively written article, again berating readers, whereas just below Ms. Richardson has an article about customer service with a smile. The written word can also have tones of arrogant anger, of boredom or of a smile.
In Karen’s case, perhaps all she needed was a small amount of encouragement. Instead, she is berated in public. Will this chastisement help her or hurt her forward momentum? Since we don’t know her personality, we cannot answer that. I don’t think people should be babied, but why be publicly unkind to someone? If Mr. Masterson is too busy to respond or feels put upon by her question, no reply would have been better.
For me, books are a passion both for pleasure and for growth. I spend a lot of money on books, but I will not be buying Ready, Fire, Aim. There are many other good and great business books whose authors and publishers do not use such negative tactics to sell their books.