Let the Good Times Roll
Issue #2169
- WEALTHY: Are you a victim of The Artificial Good Life? (Robert Ringer)
- HEALTHY: A misleading study places unfair blame on fat (Jon Benson)
- WISE: Everett Dirksen on money
ALSO IN THIS ISSUE:
- Don’t walk away with nothing (Michael Masterson)
- Two more acronyms that could save you a lot of money (Wendy Montes de Oca)
- It’s Good to Know… about Microsoft Office keyboard shortcuts
- Add "jeu d’esprit" to your vocabulary
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.
Take a look at how Jim brought in over $187,000 in a single day!
- Patrick Coffey
"A billion here, a billion there, and pretty soon you’re talking about real money."
Everett Dirksen
Let the Good Times Roll
Remember Stephen Wilkinson, who, back in January of this year, thought he had won a $102,000 jackpot on a 25-cent Wheel of Fortune slot machine at the Philadelphia Park Casino? "Not so fast, Stevo baby," said the casino’s management, who insisted it was all a big mistake – a "communication error."
The casino explained that the slot machine had malfunctioned and erroneously flashed a sign announcing that Wilkinson had won. When he complained, casino officials offered him and his wife two comps to its (ugh!) buffet. Wilkinson now says he might have dropped the whole thing had the casino at least offered to comp them to dinner at its steakhouse.
However, since it did not, he decided to file a complaint with the Pennsylvania State Gaming Board, and the ensuing brouhaha became a national news story: Blue Collar Guy takes on Daddy Big Bucks. I’m told that casino officials probably would have won if the matter had gone through the courts, but that was no longer the issue. The focus had become the bad publicity the casino was getting nationwide.
Had the Philadelphia Park Casino remained steadfast, the $102,000 probably would have looked puny compared to the lost profits resulting from customers staying away in droves. Which is why the casino thought better of it and forked over the $102,000 to Wilkinson.
End of story? Not quite. Let’s not let this one slip away without extracting some valuable lessons.
Lesson No. 1:
The odds are that the casino could have eliminated the Wilkinson pimple with a steak knife had executives not been so dull-headed. For $75 or less, they could have had the Wilkinsons yukking it up in the casino’s steakhouse, chomping away on shoe-leather-grade sirloins, and lifting their glasses of cheap house wine in a toast to their generous compers.
But once Wilkinson’s nose had been rearranged by the thought of going through a buffet line with the casino’s other victims… er, I mean customers… a cheap solution was no longer an option. If they had it to do over, of course, casino bigwigs would have been happy not only to treat Wilkinson to a side of beef, but also to hand him a $1,000 goodwill check on his way to dinner.
Unfortunately, hindsight is a synonym for "too late." The bird in the hand looks awfully good after it’s already left your hand. Think about that the next time you’re tempted to blow someone off without analyzing the cards he has at his disposal. There’s a reason why the old adage "pennywise, dollar foolish" has been around since time immemorial.
Lesson No. 2:
Inadvertently or intentionally, whichever the case may be, Mr. Wilkinson underscored the efficacy of my 10 Sacred Rules of Success: Ask… ask again… ask again… and so on, until you become a genuine pain in the ask!
Giving credit where credit is due, once he got miffed by the buffet insult, he became like a dog with a bone – a bone that turned out to be worth $102,000. Imagine being handed a hundred grand without producing anything of value to anyone. What a great country, right?
Lesson No. 3:
Which brings me to Lesson No. 3, perhaps the most important lesson of all. No, the U.S. is not a great country because a hard case occasionally wins big bucks from a slot machine, horse race, or state lottery. On the contrary, when people aspire to "get lucky" by engaging in such activities, that is precisely what’s wrong with modern-day America.
While barbarians around the world (as well as in this country) spend every waking hour plotting to slaughter us, we are anesthetized by that great American phenomenon known as The Artificial Good Life – no savings… easy credit… sun ‘n fun vacations… high-ticket sporting events… electronic toys… dumbed-down reality TV… and on and on it goes.
The Artificial Good Life bears no resemblance whatsoever to The Substantive Good Life that once made America the most admired country in the world – hard work… saving… actively participating in sports and other healthy and meaningful activities… and, above all, putting your time and energy into enjoying home, family, and friends.
Enter Stephen Wilkinson, a new-millennium product of The Artificial Good Life. Wilkinson is a "retired carpenter." Retired carpenter? Why in the hell is a carpenter retired at age 56? I’m older than 56, and I’m not retired!
Maybe he has a disabling injury. But, if so, no one in the media has mentioned it. And if he does have an injury, it doesn’t seem to prevent him from wandering through casinos and pulling on slot machine levers.
Next question: What is Wilkinson doing in a gambling casino anyway? Over the next 14 years (through the age of 70), you can be certain he will give back the $102,000 he "won"… and a lot more. Remember, the $102,000 (really only $60,000 or so after the tax authorities finish with him) will already be spent, so the money he "gives back" will actually be from his own pocket.
Why do I believe the money will be spent? Because Wilkinson announced that the first thing he and his wife intended to do with their windfall was take a vacation in the Bahamas! Can Best Buy and pricey tickets to the NBA finals be far behind? Let the good times roll.
In contrast, imagine the amount of money carpenter-turned-aristocrat Wilkinson could earn between now and the day he turns 70, and what he could accumulate through wise investing. It would be interesting to follow up on the whereabouts of the Wilkinsons five or 10 years down the road, but I doubt anyone will remember them by then.
Just something for you to think about as you make your day-to-day financial decisions.
[Ed. Note: Take a gigantic step toward achieving all your personal and professional goals - faster than you ever imagined - with Robert Ringer's best-selling personal-development program. And sign up for his Voice of Sanity e-letter here.]
Wanted: Investors Who Want to Grow Rich the "Lazy" Way
It doesn’t take a lot of time. You don’t need a lot of money to get started. It doesn’t require a lot of work. Best of all, the returns you’ll pocket will shock you (how does 724% sound?).
Get all the facts right now here.
Getting Past "No"
Sales Secret: People often feel guilty about saying "no." By denying your request, they feel as if they have been wasting your time – especially if you’ve been helpful and informative in your presentation. And you can take advantage of that feeling by giving them something less expensive to buy (into) that will satisfy both of you.
Let’s say you are trying to sell a customer a new database-software package. When he hears the price – half a million dollars – he says, "No way." You do everything you can to show him that $500,000 is nothing compared with what he will make and save by buying your software. Still, he says "no."
Now you bring out Plan B – the second option. In this case, it’s revamping his existing software for $150,000. He listens because he feels he owes it to you and because the price tag is so much lower. You hit him with benefit after benefit – showing him how his life will improve with the revamping. You make this second, smaller sales argument with as much force as you did the first one. At some point in time, he feels as if he’s getting as much out of Plan B as he would have gotten out of Plan A, so he stops you and agrees to buy it.
Instead of walking away with nothing, you’ve made a substantial sale and developed a customer for the future.
Bonus Application: This persuasion technique works just as well in more personal situations – such as getting a raise or convincing your friend or business partner to do something.
Let’s say, for example, that you want to persuade your partner to invest in a new product line to add balance to your business. The budget you’ve prepared will require $250,000 over six months. He doesn’t like the risk, and so you shoot back with an alternative – a cheaper way that will give you an indication of whether the new product line would work. This would cost only $65,000. He can’t say "no."
The trick to walking away with something is to plan your comeback pitch in advance so it can be hard-hitting, detailed, and enticing. Get the data you need and double-check your numbers, and it won’t seem as if you are desperately shooting from the hip.
[Ed. Note: Get Michael Masterson's insights into becoming successful in your business and personal life, achieving financial independence, and accomplishing all your goals on his brand-new website. You'll find updates on all of Michael's books, news on upcoming ETR events, Michael's blog, and room to send in your comments and questions. Check it out today.]
Cost Per What?, Part 2
Marketing your product or online newsletter may be your number one priority. But if you’ve got a bunch of ads set up all over the Internet and no way to track how effective they are, you might as well be throwing money into the trash. You need to measure just how well your ads are performing – and to do so, you need to keep track of some critical marketing metrics.
Yesterday, I told you about CPA (Cost Per Acquisition) and CPL (Cost Per Lead) – two metrics that can help you determine whether your ads are hitting or missing with your potential customers. Here are two more crucial performance indicators:
- CPC (Cost Per Click) – the cost of your marketing effort divided by the number of times people click on your online ads.
This calculation will help you determine how much you’re paying for each click (or action of interest) your ad garners – the lower the CPC, the better. This pricing model is typical with pay-per-click (i.e. Google, Yahoo) and other search engines. Most CPCs, depending on keyword popularity, range between $0.10 and $1. I try to keep my CPCs under $0.99.
If your CPC isn’t as low as you’d like it to be, consider picking keywords or key phrases that are relevant but aren’t in high demand. (The higher the demand, the higher the cost.) Keyword suggestion tools like freekeywords.wordtracker.com, adwords.google.com/select/KeywordToolExternal, or tools.seobook.com/general/keyword/ will show you how popular a keyword/phrase is with people doing online searches and give you alternate suggestions.
- CPM (Cost Per Thousand impressions) – the cost of your marketing effort divided by the number of eyeballs, measured in thousands, that viewed your advertising message on a website or in an e-mail.
This calculation will help you determine how much money you’re spending on online ads. Websites, blogs (which use banner or display ads), and e-mail list rentals typically use this pricing model. A typical online ad can range from $.50 to $125 CPM, depending on various factors (such as website traffic, list size, ad placement, ad unit size, the time of year, etc.).
Here is a great tool to help calculate your CPM: clickz.com/showPage.html?page=resources/adres/cpm_calculator.
If your CPM isn’t in a range your budget can handle, consider focusing your advertising efforts on the more cost-effective blogs or blog networks (which typically have lower CPM rates than mainstream websites). Or, you may want to switch your pricing model to CPA, where you know you’re only paying for names you actually acquire… not just for the number of people who viewed your ad. CPA rates may be higher than CPM rates – but you’re getting guaranteed leads.
[Ed. Note: Wendy Montes de Oca, ETR's Vice President of Marketing and Business Development, has led the marketing efforts for several global leaders, including Chase Manhattan Bank, General Electric, ADP, and Salomon Smith Barney/CitiGroup, as well as consulted for entrepreneurial companies. She is a core contributor to ETR's new Internet business-building program, designed to show you how to take an online business from concept to execution and beyond. If you're interested in profiting from all the benefits of starting an online business, click here to join our priority notification list.]
Can Exercise Un-Clog Arteries in 45 Minutes?
By Jon Benson
Indiana University kinesiology researchers recently discovered that physical activity after eating a high-fat meal reverses the damage to your arteries and improves their functioning.
Eight 25-year-old subjects ate two meals. One was "high-fat" and the second was "low-fat." After the high-fat meal, scans of the subjects revealed arteries resembling "the arteries of a person who had heart disease." However, when the subjects engaged in a mere 45 minutes of brisk walking two hours after the meal, their arteries returned to normal… and actually showed improvement.
Sounds good… but there’s something wrong. The type of fat consumed by the subjects, plus the carbohydrates they consumed with it, tainted the results. The fats were highly processed and included trans-fats, which have been strongly associated with the onset of heart disease. Plus, the meal was very high in calories and high-glycemic carbohydrates.
If your fat intake is high, decrease your carbs. The opposite works too, assuming you have sufficient protein in the meal. Otherwise, those carbs can cause spikes in insulin, especially in carb-sensitive individuals.
In the Indiana University study, did the damage to the subjects’ arteries come from the high fat content of the meal or from theoverall structure of the meal itself (which had almost 1,000 calories)?
What we’re looking at here is a clear case of fat phobia. The truth is, fat is absolutely necessary for life. The quantity may be open to debate, but multiple studies show that though carbohydrates of any kind can be done away with for years without harming health, you can’t do away with fat.
Here’s the takeaway: Light exercise after a heavy meal is a very smart idea. Consume naturally occurring fats, balanced with protein and vegetables. Go very light on the starches, especially if you’re consuming a higher-fat meal. When eating starch, be sure to consume protein and veggies to slow the absorption of sugar.
And, finally, get off the fat phobia bandwagon!
[Ed. Note: Jon Benson, a lifecoach and nutrition counselor who specializes in helping individuals discover a life-altering mind/body connection, is a contributing writer for ETR's free natural health e-letter. His work in the field of post-40 fitness and mental empowerment has helped countless thousands. Learn how you can do the same at www.fitover40.com or www.mpowerfitness.com.]
It’s Good to Know: Microsoft Office Keyboard Shortcuts
Using keyboard shortcuts is a great way to boost your productivity. Here are three text-formatting tricks that work for most versions of Microsoft Office’s Word and PowerPoint applications:
- Shift+F3 – Switches highlighted text in Word and PowerPoint between capitalizing the first letter in each word, capitalizing all letters, and lowercasing all letters.
- Ctrl+Shift+C (Copy) and Ctrl+Shift+V (Paste) – Allows you to copy the formatting (color, font, size, etc.) of one section of text and apply it to another selection in Word and PowerPoint.First select the portion of text with the formatting you want to copy and hit Ctrl+Shift+C. Then select the text with the formatting you want to change and hit Ctrl+Shift+V.
- Ctrl+Spacebar – This shortcut allows you to remove all formatting from highlighted text.
(Source: Zeigen.com)
What Does Your Mother In-Law Really Think About You?
AHH, In-Laws…Can’t Live With ’em…Can’t Kill ’em! Is There Anything You Can Do to Salvage This “Wonderful” Relationship?
Tired of Your Mother In-Law Thinking You’re Not Good Enough for Her Boy?
I bet when you got married you thought it was just the two of you… right? Never thought for a moment you’d get the whole family, did you? My grandmother used to have a saying that is perfect for this occasion. Here goes…
“If you’re given lemons, make lemonade.”
Let’s face it, your mother in-law (has she driven you COMPLTETLY crazy yet?) isn’t suddenly going to fall off the face of the earth, no matter how much you pray for it at night. But what else, short of hiring kidnappers, can you do? No need to fear, we’ve got you covered. We’ll show you how to control your in-laws without giving in to them. Click here for more info.
- Patrick Coffey
Word to the Wise: Jeu d’Esprit
"Jeu d’esprit" (ZJOH-des-PREE) – French for "play of spirit" – is a witty comment or writing.
Example (as used by Terrence Rafferty in a New York Times review of Linger Awhile by Russell Hoban): "This sounds like the sort of thing the French call a jeu d’esprit, and the English call too clever by half."
[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.]
Michael Masterson
Copyright ETR, LLC, 2007
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