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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:
http://www.isecureonline.com/Reports/700SJABG/E700G307/
- Charlie Byrne
"Paying attention to simple little things that most men neglect makes a few men rich."
- Henry Ford
The Gold Collar Worker
By Brian O'Connell
If you want to become wealthy, one thing is certain: You need to radically increase your income.
Michael Masterson has said it before, and he spends a lot of time on this concept in Automatic Wealth. It's that important.
In short, it's all about becoming a valuable employee - what some career experts call "a gold collar" worker.
What's a gold collar worker?
Gold collar workers can work on a manufacturing plant line, pound out software code in a cubicle, or write advertising copy. They're not pigeonholed by age, gender, ethnicity, or any other demographic that a pointy-headed academic can roll out. What makes them stand out is their record of achievement in their chosen careers ... and the smiles on their faces that come from the fact that they're doing what they love to do.
What gold collar workers have in common is a combination of attributes: attitude, ambition, enthusiasm, integrity, determination, discipline, and a work ethic that has turned them into lean, mean, career-advancing machines.
"Hey!" you might be saying. "I have all those attributes - but nobody's calling me a valuable employee or a gold collar worker." Well ... chances are, you're not using those attributes in a way that counts.
If you want to join the ranks of gold collar workers - and earn not only the reputation but also the money that goes with it - here's what you've got to do:
A gold collar worker is constantly asking his supervisor if there's anything he can do to help. In effect, he is saying, "I want to make a larger contribution to the company." It's contributions like this that make successful careers, at least in the long run. Gold collar workers are never passive. That's why they are promoted ... and then promoted again.
Gold collar workers know how their workplace operates. They figure out whether most promotions in their company are based on creativity or attention to detail, sales or production/operations experience, computer or interpersonal skills. Then ... that's what they work on.
Of course, if they've read Automatic Wealth, they already know that the most valuable career advancements are always going to be based on how much you increased your company's profits. And so, they are always on the lookout for new ways to bring in more revenue ... regardless of their position.
Ideas are the lifeblood of the workplace. Consequently, gold collar workers keep on delivering well-researched ideas and volunteering to take charge of their execution. Taking initiative is another way of showing that you deserve a promotion.
Whether it's going back to school to learn Excel, offering to write about a subject of interest for an industry trade magazine, or even offering to talk about it in front of a Chamber of Commerce group, gold collar workers don't hesitate - and, more important, aren't afraid to become an industry expert. Imagine giving a speech on manufacturing line innovations and noticing that your boss is in the audience. Or, even better, your future boss.
Yes, becoming an expert is hard work. In the words of Thomas Edison: "Genius is 99 percent perspiration and one percent inspiration."
Gold collar workers take control of their own careers. They don't leave it to chance. Like a small-business owner, they take their responsibilities and the reputation of their company personally. If a customer isn't happy, for example, a gold collar worker takes it upon himself to "kill him with kindness."
A gold collar worker can just about cite chapter and verse what his industry is up to on a daily basis. Becoming savvy about your industry entails reading industry publications, as well as checking out The Wall Street Journal and Business Week. Even better is to develop your own industry contacts and chat them up once in a while. The Web is a big help, too. Industry associations almost always have websites chock full of information and data. You could also subscribe to an online "clipping" service that will e-mail you news and information on your business community. Lexis-Nexis (www.lexisnexus.com) and Northern Light (www.northernlight.com) are good places to start. Business Wire (www.businesswire.com) and PR Newswire (www.prnewswire.com) are good too.
It may seem ham-handed, even arrogant, but informing your boss and others of your successes and milestones is an important step toward visibility. And visibility counts. It's equally important to toot other people's horns whenever deserved. There is great power in a sincere compliment. The favor will invariably be returned.
A gold collar worker always knows his value to the company, to the industry, and to potential future employers. There's no shortage of surveys and annual reports on salaries in the workplace. Check them out to see where someone with your experience and position stands. Another way to find out what you're worth on the open market is to scout out help--wanted ads (many include salary ranges these days) or contact an employment recruiter.
Becoming a gold collar worker isn't nearly as difficult or challenging as you may think. It all starts with believing that you can be the most indispensable employee in your company. After that, it's all about taking action - doing what you have to do to make it happen.
[Ed. Note: Brian O'Connell has authored 10 books, including The 401(k) Millionaire and CNBC's Creating Wealth. With his background on the Philadelphia Stock Exchange and at the fixed-income trading desk of Delaware Funds as a bond trader, he's appeared as an expert commentator on business issues for CNN, Fox News, CNBC, C-Span, Bloomberg, The LA Times, and other media outlets. Currently, he operates a freelance writing business, working on books, corporate copywriting projects, and magazine articles for a variety of clients.]
Easing Into Productivity
When you are mentally dull and emotionally blah and you can't get yourself into your work, you can sometimes "ease" into productivity this way:
1. Rate each of your daily tasks as low-, middle-, or high-energy. The results will usually reflect an inverse relationship to your priorities.
2. Schedule your first hour for the low-priority jobs. Set an alarm - and as soon as it goes off, switch.
3. Attack the middle-energy jobs next. Again, set a one-hour time limit. When the buzzer goes off, switch to your high-energy pile.
Note: This is exactly opposite of what I normally advise. But if you do it only once in a while, it may be just what you need to get beyond the slump.
- Michael Masterson
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Retire Years (Even Decades) Sooner with this “Hidden” Tax Secret
Are you tired of watching your retirement nest egg earn a miserly return... or worse, lose ground because of a turn in the stock market? Then it’s time to take control of your own retirement funds. There are “hidden” IRS regulations that allow you to buy more profitable, and safer IRA investments than stocks and mutual funds.
By directing your own IRA toward higher profits, you could retire YEARS earlier than expected with a richer lifestyle than you ever thought possible… Click here to learn how it works.
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Reversing the Devastating Effects of Syndrome X
Yesterday, I wrote about Syndrome X, a condition that greatly increases the risk of Type-2 diabetes, heart disease, stroke, and cancer. Affecting as many as one in four Americans, it is rapidly becoming a serious epidemic.
One of the most problematic indicators of Syndrome X is insulin resistance. In the vast majority of cases, insulin resistance is caused by lifestyle, which means it can be prevented or reversed by changing your habits.
A lack of physical exercise and a diet that includes too many refined carbohydrates are two primary risk factors. So, to improve your sensitivity to insulin (and reduce your risk of heart disease, cancer, and diabetes), here's what you should do:
1. Strictly limit or eliminate refined carbohydrates from your diet.
These include: bread, cereal, pasta, cookies, soft drinks, fruit juices, desserts, etc.
2. Break a sweat.
When it comes to increasing your insulin sensitivity, moderate exercise is better than no exercise, but intense exercise is even better. When you exercise intensely, your body uses more glycogen, the stored form of glucose. To replace those stores, glucose is pulled from the bloodstream.
3. Train your muscles.
While cardio exercise can improve your response to insulin, strength training is by far the best way to do it. Researchers in British Columbia found that women with diabetes increased insulin sensitivity by 20% with aerobic exercise. When they added weightlifting, some of the women's results went up by 77%. A similar study of men showed a 46% increase in insulin sensitivity after 16 weeks of resistance training.
ETR Insider Report: How Many Books Are Enough?
Will too many books spoil the broth? That's what everyone's talking about here at ETR this week.
Let me explain ...
You've probably noticed that, since December, we've been focusing on Michael Masterson's success and leadership book, Power and Persuasion. Thousands of copies have flown out the door and we're now looking at a second printing.
But do we really want to do that?
After all, winter will soon turn to spring - and with spring comes Michael's next book, Automatic Wealth for Graduates. Our goal's going to be to get that to Number One on Amazon.com the day it's released.
Which means we've got to decide soon:
Do we go ahead with the second printing of P&P so we can get it out to as many folks as possible. (Eva Janzen, one of ETR's marketing managers, is in favor of this idea.). Or ... do we take a break from books until we're ready to fire up the AWFG campaign in full force. (That's my inclination.)
The debate is raging ...
- Charlie Byrne
Today's Action Plan
Michael will probably make the decision himself when he gets back from a business trip to Nicaragua. But what would YOU do if you were in our shoes? Would you go ahead with the second printing of P&P ... or take a break from books?
Let us know by sending your questions or comments to Whichbook@ETRFeedback.Com.
Meanwhile, stay tuned to the ETR Insider Report. With this new feature, we'll be keeping you informed on what we're up to "behind the scenes." We'll also be asking for your help to make ETR better than ever.
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To Be Honest, I’ve Never Been The Sharpest Tool In The Shed
But now I’m so excited about this way I’ve found of ‘hotwiring’ the Internet for fast and furious profits… and it’s SO simple I can’t believe no one’s ever thought of it before!
Now I look forward to sharing my good fortune with you…
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Word to the Wise: Probity
"Probity" (PRO-bih-tee) is another way of saying "integrity." The word is derived from the Latin "probus" ("upright").
Example (as used by Norman Lebrecht in Who Killed Classical Music?): "Unless some light is shed on shady dealings and some probity restored, more young lives will be blighted and careers choked off."
