How Paul Increased His Profits by 1,000%
Archives: Daily Issues
- WEALTHY: A new form of currency? (Paul Lawrence)
- HEALTHY: What 2 cups of berries can do for your health (Kelley Herring)
- WISE: Sean O’Casey on money
ALSO IN THIS ISSUE:
- You don’t need to be on your “A” game when you have this (Rich Schefren)
- A space-saving multi-tasker for your travels (Lori Allen)
- It’s Fun to Know… about being born without fingerprints
- Add “vagary” to your vocabulary
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“Money does not make you happy but it quiets the nerves.”
Sean O’Casey
How I Increased My Profits By 1,000%
Richard called me in a panic, begging me to fill in as a guest on his local cable TV show. Seems that one of the people he’d booked had cancelled at the last minute. It sounded interesting, so I agreed.
I was surprised to find that his show was recorded in a tiny room instead of a professional sound studio. The format was similar to a talk show. He had four guests, including me, all of us local businesspeople. He interviewed us, one at a time, about what we did – giving each of us a chance to indirectly plug our product or service.
At one point, Richard whispered to me, “Can you believe I’m making three thousand dollars right now?”
I was floored. I had been producing my own little cable show, and was struggling to make a profit by selling airtime for commercials. So, when Richard’s show was over, I asked him to reveal how he was making so much money for just an hour or so of work. He explained that each of the other businesspeople on the show had paid him $750 to be there – including the one who didn’t show.
“But how are you getting these people to pay that much for such a small amount of media exposure?” I asked.
”They don’t care about the money,” he replied. “They’re paying me in barter dollars.”
That’s how I found out about a whole world I never knew existed.
I learned that there are networks made up of thousands and thousands of businesses that participate in formalized bartering. These networks, in effect, create their own currency – what they call “barter dollars.” And those barter dollars, in theory, have the same value as real dollars. Not only that, but barter club members are very receptive to buying products and services from other members, because they are always looking for ways to spend their barter credits.
I was amazed to see how many things can be acquired with bartering. That includes almost any professional service you can think of, from doctors and lawyers to copywriters and public relations experts. Also restaurant meals, furniture, travel, and too many other goods and services than I have room to list here.
As I said, I was barely breaking even with my cable show… until I discovered bartering. But as soon as I joined a large national barter network, I found a video production company that would work for me in exchange for barter credits. This greatly reduced my cash expenses.
I had been paying a videographer $500 to come out and film my show, and another $500 to do the editing. I was paying for that, as well as the airtime I bought from the cable company, with the income I was getting from advertisers. And I was usually left with about $100 in profit. Hardly worthwhile for all the time and effort I was putting in.
But because this videographer accepted payment of $500 in barter, that allowed me to retain the real dollars I was getting from my regular advertisers. I was also able to sell out my previously unsold airtime to barter advertisers. That barter income was then applied to the bulk of my expenses.
My cash profit soared from $100 to over $1,000 per show.
Now you might be wondering if the products and services you get with barter dollars are below par in some way. Absolutely not. The production services I used for my show were equal to those of any I had paid cash for. The restaurants I ate at with barter dollars were expensive and popular. The lawyer I used gave me better advice than several others who had charged me hefty hourly cash fees. The dentist I used did a perfectly good job. And I was very happy with the lamp I bought with barter dollars from a furniture retailer. I also noticed that the advertisers who bought airtime from me with their barter dollars had thriving businesses – a massage therapist, party entertainment company, chiropractor, perfume distributor, and Italian restaurant, among others.
You might also be wondering how wide-ranging barter networks are. Certainly, if you live in a relatively big city, you will have access to more local merchants who are members. But there are many kinds of barter transactions that can be done no matter where the participants live. For example, I use a Web programmer who lives in Connecticut and a pay-per-click marketing consultant who lives in Orlando. And when I ran a mail-order house for a colleague, our fulfillment house was in the Midwest and our phone center was in the Northeast.
If you decide to join a bartering organization, here are some things to keep in mind:
• Joining a well-established organization offers a lot more security.
Many national barter networks have thousands and thousands of members. While there is no guarantee that any bartering organization won’t suddenly go out of business – and, in doing so, vaporize your barter credits – if you join one that has been around for a number of years, there is a much smaller chance of that happening. If you simply put the term “barter club” into a major search engine like Google, you’ll find many options.
• Barter earnings and expenses are treated like cash by the federal government.
Barter organizations are required to report the barter earnings of their members to the IRS, so don’t think the barter dollars you get are tax-free. Yes, you’ll have to declare your barter income – but you will also be able to deduct legitimate business expenses that you pay for with barter dollars. If you are smart about it, you can actually lower your tax bill.
• Most barter organizations prohibit members from inflating their regular prices for barter transactions.
Even if there’s a willingness on the part of some barter members to pay a premium for your product or service when they’re using barter dollars, you can’t charge them more than you charge your cash customers. In fact, some barter organizations will terminate your membership if you get caught doing it.
• The cost of joining a barter organization varies.
As I said, a quick search on a major search engine will turn up many barter club options. So shop around.
Bartering offers a great way to fatten the bottom line of any business with excess capacity that can be turned into extra profits. It opens up a whole new market to sell to. Plus, you can potentially lower your cash expenditures drastically by using other barter club members as vendors.
Let’s say you operate a company that puts together travel packages. Some of the services you provide for your clients include transportation from the airport, hotel accommodations, and restaurant discounts. As a member of a barter club, you could arrange for all of that to be paid for with your barter dollars – and then the entire fee you charge your clients would be pure profit.
Or perhaps you’re a CPA, and have just opened your own office. Until you build up your business, you could fill your idle time with barter clients and use that barter income to pay your doctor, your lawyer, or maybe even treat your family to a vacation.
Bartering can’t totally replace a cash business. But it can vastly increase your cash flow and profitability – as it did mine.
[Ed. Note: By joining a bartering network, business-building expert Paul Lawrence says it's possible to make your dollars stretch... and multiply. You can learn more about bartering with Paul's new audio program, "Secrets to Get Rich With Bartering."
Of course, with or without barter dollars, starting your own business is one of the very best ways to achieve financial independence. And you can do it with as little as $100. Learn how right here.]
How Many Coulda-Woulda-Shouldas Are Cluttering Your Shelves?
Does this sound familiar?
You have big plans…
Then you fall off track…
Or get sidelined by your day-to-day responsibilities…
And then you decide to push back your dreams another week or month or year.
“I’ll just wait until January,” you say. “Then I’ll make a resolution to start again. And I’ll really do it this time.”
But guess what? You NEVER take action on those goals.
It’s time to break the cycle and make your dreams come true.
The Tiger Woods Secret
Even if you’re not a golf fan (and I’m not really), you have to admire Tiger Woods. He’s usually performing at a level that’s simply unheard of in the golf world.
Key word here is “usually.” Because during this year’s U.S. Open, Tiger wasn’t on his “A” game. Many of his tee shots went completely awry, making spectators scramble for cover.
Gotta admit – seeing Tiger yank a drive 50 yards left of the fairway made me feel better about my golf skills (or lack thereof). But here’s the thing…
He won the tournament.
No kidding. After carding several double bogeys, a variety of mis-hit shots, and putts that either came up short or went zooming eight feet past the hole, he still won.
How did he do it? How did he pull it off? If I were to guess, I’d say it was his mental toughness. Tiger simply refused to lose. Even though he was struggling… even though his recently surgically repaired knee was screaming in pain… even though the competition was nipping at his heels… he never gave up.
And that’s a big part of what makes Tiger a winner, over and over again.
There’s a name for golfers whose game doesn’t look so hot, but, at the end of the day, they still post a low score. They’re called “grinders.” They find a way to get the job done – no matter what it takes. And during the U.S. Open, Tiger Woods was most certainly a grinder.
There are a lot of similarities between your quest for success and Tiger’s quest for golf immortality.
Think about it. You’re both extraordinary people with tremendous potential. You both face challenges every day and strive to become greater than you are right now. Regardless of the circumstances, you continue to march straight forward in life, with guts and a level of determination that most people don’t realize. And, finally, you both have a higher level of commitment to self-improvement than most people.
See what I mean?
Tiger Woods may have slowed down from time to time, or faltered because of frustration or an obstacle in his path. But he never stopped moving forward. And today, he’s not only considered the best golfer in the game, but possibly of all time.
You, too will be a winner – in your business and in your personal life. All you have to do is keep taking action… and keep moving forward.
[Ed. Note: Rich Schefren, known in marketing circles as "The Guru's Guru," is an online business exploder whose clients rake in more than $500 million every year - piling up more than $1 billion in sales every two years. Visit his blog to learn how to streamline your business while skyrocketing profits.
And find proven goal-setting techniques that can speed up the time it takes you to succeed here.]
Travel Tips: 6 Uses for Toothpaste
By Lori Allen
When I was young, my mom would take water rings off our coffee table with toothpaste. Today, I use toothpaste for a number of things… especially when I’m traveling and have to limit the amount of “stuff” I bring with me.
1. Bee sting ointment. If you can’t get ice for your bee sting, dab a little toothpaste on it. It’s rumored to be the very best home remedy. (Also works to relieve the itch of a mosquito bite.)
2. An overnight zit cream. I find that if I dab just a spot of toothpaste on a rebellious pimple before I go to bed, it’s near gone by morning.
3. Jewelry cleaner. Simply put a small amount of toothpaste on a soft cloth and rub it on your dry jewelry. Use a soft cotton swab for the smaller, hard-to-reach spots. Then rinse it off.
4. Shoe cleaner. Toothpaste and a cloth or old toothbrush are great for cleaning the white rubber parts of tennis shoes.
5. Bathroom mirror defogger. When I’m in the shower and my husband wants to shave, he squeezes a pea-sized amount of toothpaste on the mirror and wipes it clean. Voila! The mirror stays clear.
6. CD and DVD scratch repair. Apply a very small amount of toothpaste (not the baking soda kind) to the disc and rub it off with a soft cloth. Scratches gone!
[Ed. Note: Lori Allen is the director of AWAI's Travel Division. You'll find tips like these, along with information on travel writing and photography, in her free e-letter "The Right Way to Travel." To sign up, click here.]
Fight Immune-Based Cancers With Blackberries
Blueberries have been lauded for their antioxidant ability and cancer-fighting effects. But another berry may offer protection against some of the deadliest forms of cancer.
Researchers at the University of Pittsburgh evaluated the effect of a compound extracted from blackberries called cyanidin-3-rutinoside (C-3-R) on cultured human leukemia cells. The C-3-R was tested on several cell lines of human leukemia, and the test was repeated using cell cultures of lymphoma, another immune-based cancer. The scientists found that when applied at low doses, C-3-R killed half the cancer cells within 18 hours of treatment. When applied at higher doses, the blackberry extract killed all cancer cells present within 18 hours.
According to cancer expert and researcher Gary Stoner, 1.5 to 2 cups of fresh berries may be the ideal dose for staving off certain types of cancer. So whether you choose marionberries (the “Cabernet of blackberries”), traditional evergreen blackberries, or big and bold boysenberries, you’ll get a burst of summer-fresh flavor… and a bushel of cancer protection to boot.
[Ed. Note: Healthy food doesn't have be boring. Enjoying a bowl of fresh berries won't seem like eating health food - even if it's good for you. And now, nutrition expert Kelley Herring has developed a decadent cake mix that's good for your health - and tastes like heaven. Learn how to get your slice right here.
And for healthy recipes, the latest health breakthroughs, and plenty of motivation, sign up for ETR's natural health e-letter.]
It’s Fun to Know: Born Without Fingerprints
People afflicted with a pair of rare genetic disorders – Naegeli syndrome and dermatopathia pigmentosa reticularis – are born without fingerprints, and never develop them. The lack of fingerprints doesn’t alter the sense of touch in their fingers, but it does reduce their ability to grip (making turning pages, for example, something of a challenge). The pair of disorders is often accompanied by problems with hair, skin, and teeth. Also, people with the disorders are not always able to sweat normally, putting them at risk for heat stroke as a result of the mildest exercise.
(Source: National Geographic and Discover Magazine)
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Word to the Wise: Vagary
A “vagary” (VAY-guh-ree) – from the Latin for “wander” – is an extravagant, erratic, or unpredictable notion, action, or occurrence.
Example (as used by Martin Dugard in Knockdown): “Weather is one of the vagaries of blue-water racing, ruling the sport like a malicious jester.”
Copyright ETR, LLC, 2008
The articles are very informative with one added
element to the blackberry’s ability to stave off
diarhea. There are plant remedies for cancer or
other problems that most don’t know about. So you
will have my secret.
Two capsules a day for no more than six days will
put leukemia in remission. A friend died of other
causes so the proof can’t come from the source. I
know how to stop the flu before it keeps you in
bed for more than a day.
Astragulus,Pau D Arco and Golden Seal or Echinacea.