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A $50,000 check for doing nothing?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Archives

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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