June 25, 2008
Preventing Burnout... The 180-Second Millionaire
Countdown... Introduce Yourself to Online Marketing...
Cutting Costs on a Long Weekend... and More.
** Preventing Burnout
By Adrian Newman, Founder of e-Wealth Daily
When you start your own business, you're going to be tempted
to work all the time and put in a lot of hours to make sure your
venture is a success. I see it all the time, particularly with sole
proprietors who are relying on themselves only. However, you
need to know that burning yourself out could lead to disaster.
You want your business to be successful, right? Of course you
do. And there's nothing wrong with that. But when you push
yourself too hard, you end up making careless mistakes.
On a very general level, think about when you're tired at home.
Maybe you forget to turn off the lights or the television, or
forget to put the milk back in the fridge. These things are very
minor omissions; but when it comes to missing things in
business, there's no such thing as a minor mistake -- they all
end up costing you.
If you put in 12-hour days and push yourself to the brink of
exhaustion, it's only a matter of time before you will make a
mistake. You will forget to make a deposit or make a payment
to a supplier. You will forget to make a loan payment or call
back a customer. Small mistakes or omissions can result in the
loss of a business, credit problems, or something worse.
Also, when things start going wrong, it can be difficult to break
free from the snowball effect that can occur; meaning that
when you have to go back and fix something, the next task on
your list will suffer as a result.
If you're burning yourself out, then you're probably not
allowing yourself to recharge. I realize that having your own
business requires attention, but if you're feeling that you are
working yourself too hard and you're starting to miss things,
you are making mistakes, or your personal life is suffering,
then it may be a sign that you need help.
If you can't afford a full-time employee, then enlist the help of
someone on a part-time basis. You can even get the help of
your spouse or a family member. You won't have to pay them a
huge amount, but it will take off some of the pressure that
comes with overworking yourself.
Don't be afraid that if you're not attending to the business 24
hours a day, seven days a week, something will go wrong
-- it's not an inevitability.
Focus on utilizing your time to its fullest when working. Make
every hour of your day count. Budget your time so that you can
fit everything into an eight- or nine-hour day. You can do this
by working out a schedule for certain tasks and sticking to it.
Schedules might need to be adjusted as situations arise, so you
also need to give yourself some leeway for such occasions.
Also, allow for some downtime in your day for lunch and for
making follow-up calls to customers, or cold-calling new
customers.
Don't forget about when you have somewhere to be, such as a
family event or something equally important. Make sure you
attend. If you begin to burn yourself out and your personal life
suffers, your business life will inevitably start to suffer as well.
So make time for yourself and, if you know you are pushing
yourself too hard, take a step back and recharge your battery.
You can make up for lost hours, but remember: mistakes are
much harder to recover from.
** The 180-Second Millionaire Countdown
By Bill Hebden, the "Reclusive Millionaire"
I make people rich for a living. If you were to come up with
enough money to pay for three minutes of my time, here's what
I'd tell you:
Your first 60 seconds: Think positive.
You've heard it before because it's true. Think positive. Bank
silver linings. Turn failure into a positive learning experience.
Mental toughness is the ability to stay positive no matter what.
The more you do it, the easier it gets. Soon, positive thoughts
drive you automatically.
Your next 60 seconds: Get the facts.
Look before you leap. If you have a new business idea, make
sure there's a market for it. If you find there are plenty of
people offering what you have to offer, that tells you there is a
strong market for your idea.
What if no one else is offering what you have? There still could
be a strong market for your idea, as long as it provides benefits
enough people are willing to pay for. Get the facts and find out.
Your final 60 seconds: Take action.
Thinking positive, getting the facts -- all good. But the best
business idea the world has ever seen will always fail -- unless
action is taken. To focus your action, remember this: A
business is not a business until something gets sold.
Ding! That's it. Time's up. I must say, this is the first time I've
offered just three minutes of consultation. Let me know if I've
helped you. If you want more of the ways I make people rich,
get my new book, "Getting Your First Million."
You can order my book by clicking on the link below:
http://www.lombardipublishing.com/ads/YM/index.asp
** Introduce Yourself to Online Marketing
By John Hurd, Chief Wealth Researcher
Before the Internet, the only way to reach customers far and
wide was through the mail. And, certainly, there is still a lot of
money to be made with a mail-order business. That's so long as
you can handle things like inventory and the costs of putting
together (and then mailing) a catalogue or letter in the hopes of
making a sale.
Like I said, selling products and services through the mail can
certainly be profitable. But, it's not for everyone.
However, if you're looking to expand your business and you
want more than just local reach, the Internet could be the
fastest way to reach countless thousands of people.
Since you're reading this e-mail message, I can skip the
introduction to the Internet. You're probably getting ready to
surf over to a few more web sites to make a purchase, do some
banking or maybe just read the morning news.
You'll encounter hundreds, if not thousands, of businesses
already online, each trying to turn you from a browser into a
buyer.
But, how do you take your own business online? What should
go on your web page? How will people find your web page?
Each of these questions has a dozen or so answers, so I'm going
to talk about your options and what may work for different
types of businesses.
Let's start with how to take your business online. If you're
selling a product you can go with a form of online catalogue.
Hire a web designer to help you, because it can get
complicated, especially when handling sales and keeping your
inventory up to date.
If you just have one product to sell, you obviously won't need a
large catalogue online. What can work, and is most likely the
most effective choice, is to upload a sales letter to your site that
offers only one choice to your customers. They either read and
then make a purchase or they go elsewhere. Keep your
message on point and focus solely on making a connection
with your customer, getting them to click and place an order.
Tomorrow, I'll discuss more options for advertising and selling
products and services online. Keep in mind that every business
is different and you may have to try out a few different
advertising forms before you find the one that works for you.
** Cutting Costs on a Long Weekend
By Michael Newman, Self-made Millionaire
With July 4 just slightly over a week away, many Americans
are reconsidering their plans as they look for a way to cope
with the ever-rising prices of gas and food. In the past, it is
likely that many packed up the family and took a mini-vacation
either in the air or on the ground to visit family across the
country or to just get away for a couple of days.
This year, for many, leaving home is simply not an option.
Prices are out of control and it's going to be affecting the plans
of millions across the country. That doesn't mean, however,
that you still can't enjoy your Independence Day. There are all
kinds of things you can do that are close to home and, more
importantly, low-cost.
For example, when I was growing up, my community would
often get together to organize block parties. They were always
plenty of fun, with all kinds of activities for everyone to get
involved and have a good time. There would be baseball games
at the baseball diamond, basketball games at the basketball
court and all kinds of other little games that would let people of
all ages participate and have fun. Everyone donated some
money to organizers to pay for the event, and it always went
off without a hitch. At the end of the day, a few families would
offer up their property to have small barbecues. There were
usually about four or five homes that would host, and the
guests would be pre-determined randomly, with each required
to contribute something to the meal.
If a block party isn't up your alley, then ask yourself this
question: how well do you know your town? You may be able
to fill your weekend exploring your own backyard, and having
a great time while doing so. Depending on where you live,
there may be all kinds of things to do relatively inexpensively
that you never even knew existed! In fact, last weekend, I spent
three or four solid hours walking through an area just a few
blocks from my home that I'd had no idea was there.
Now, those are only two ideas of how to have a fun, cheap July
4th weekend. Tomorrow, I'll be back with a few more ways
you can have all the fun next weekend without spending all the
money.
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