August 31, 2009

An Online Business Without a Web Site?... A Group Can
Increase Your Investing Prowess and Success... Leave the
Status Quo Behind... The Power of Storytelling and Narration
in Information Marketing... and More.

One of the biggest objections I hear when it comes to starting up an online business is that there's just too much work involved.

You see, searching around online, you're going to find a lot of web sites that were created by dozens of hours of hard work and testing. From creating a layout to adding graphics to getting the right content, building a web site from the ground up can be very involved.

However, it is very possible to have an online business without actually having a web page. Sounds a bit crazy, right? I mean, how are people going to find you online if you don't have a web page?

Well, the answer is simple, and it's simply an extension of a business you can run through the mail or over fax machines.

Let me explain.

Right now, you may have a business idea or a product to sell. However, you may not have the money needed to set up a shop or build a web page. But, I'm certain you already have an e- mail address, so you're ready to begin.

In order to start a conversation with people who may be interested in your product or service, you need a way of reaching them through e-mail. And one of the best ways to start a conversation is by offering a free newsletter.

Once a month or once a week, you can send out an e-mail with original content and discuss items of interest that have to do with your business. And then, finally, as part of your newsletter, you can include an advertisement for the product or service you want to sell.

Now, you don't want to make your newsletter appear to be spam. So make sure you have permission before sending out an e-mail to anyone.

While writing a newsletter may be a bit intimidating, it's best to consider the benefits. You get to communicate with an unlimited amount of potential customers without having to spend much extra money. And when you're working on a short budget, each dollar saved is worth it.

You've probably heard of the expression, "There's strength in numbers." Well, this also can be applied to investing. Specifically, I'm talking about investing your time, money and efforts with a group in an investment club.

For the novice investor, an investment club can give you a sense of security and can be great for learning the ins and outs of the market.

So, what exactly is an investment club? Well, put quite simply, it is a group of investors with similar goals who want to make the most of their money and minimize their risk.

The key to a successful investment group is to have like- minded individuals as members. For example, people who want to invest for the long term and not the short term would make a successful group together, because they share the same goals.

Along with finding like-minded investors, you also want to mix up the variety of your group in terms of expertise. In any type of investment club, it's important to cover all the bases. Choose investors who have different skills to bring to the table and who have useful skills to contribute.

Also make sure that the people who join are willing and able to both do the research that each member should do and attend meetings and participate in more than just collecting the money.

No one, including yourself, should get a free ride. Not only would this irritate other members, but it also shortchanges the group. The more people doing research and coming up with investments, the better. The more selection there is, the easier it will be to find a winner.

Assign some roles. Have someone take care of the money, someone else to plan your meetings and put together information, and so on. From there, agree on a monthly amount that each member should contribute. This money is pooled together, making a larger investment. This is a big investment for a novice investor or someone with limited money.

Make sure that everyone agrees on the amount beforehand. If someone is unsure, then you can almost bet that they will either "forget" to pay one month or come up short another month. The last thing you need is a hassle when you should be having some fun with this group.

Another big benefit of the group dynamic is that you are putting more minds to work. In other words, more research and more ideas mean more choice and less risk. If your expertise is in a certain industry or if you have a limited or specific researching style, then you will benefit from other people's opinions.

Come up with a plan for people to research a company alone or with a group every month or so. You can learn about multiple companies this way, and you will benefit from group decision- making.

If you're unsure of a particular investment, then someone else in the group could have a reason to sway your opinion, or if you're passionate about another investment, perhaps another member can help bring some points to the table to convince the others of your vision.

Depending on the structure you choose, like a corporation, you may need to register your investment club as you would a business.

The best part is that you vote on each decision. For someone with little or no experience and little money, this offers a lot of security. It's more likely for one person to make a bad decision than it is for a group of people to agree on one.

As a business owner, it's important to realize that, at any moment, the status quo can change and, when it does, you have to be ready. You can prepare yourself by keeping close tabs on trends, and paying attention to the news as well as your competition. To have a business that is constantly evolving and that keeps pace with trends can help limit any catch-up it may have to play, as well as maintain its status as a player when public interest changes.

The best ways to do this are to keep yourself up-to-date and recognize that many societal trends are connected. This means that, although your market may not necessarily be directly impacted through changing cultural norms, it may feel indirect ripples. Keeping an open dialogue with customers and taking action on suggestions may be one way for you to ensure continued success. If a suggestion comes to your attention on multiple occasions, it may be part of a larger trend that you should give some consideration to.

No one can predict the future, but it is possible to gauge an idea of what we can expect based on what's happened in the past. By no means does this suggest that history will repeat itself, but instead we should take a cause and effect strategy to learn what we can expect. For instance, subprime mortgages and a credit crunch led to many Americans living beyond their means and spending uncontrollably on lavish, luxurious items. As we continue to move through the repercussions of this time period, we can see new markets forming that will likely ride the wave of a new consumer culture for quite some time.

For starters, it appears that the "bigger is better" mentality associated with consumer culture may be replaced by more of a value-driven attitude. A value-driven attitude should focus more on questions like, "Is this really worth it?," while creating a more diverse marketplace to appeal to a greater number of incomes. This is already becoming apparent in the housing market, where a few leading developers have broke ground on developments focused on average, modest lifestyles.

You can also expect trends to center around "green initiatives." As was pointed out earlier, there is a growing trend towards green initiatives, leaving all kinds of business opportunities to take advantage of. In fact, a number of jobs should be created as "greening" technology is built and installed to replace the old, outdated equipment many businesses are currently using.

Just like so many things, businesses and consumers are in a constant state of evolution, so you must always be ready to adjust with the times. Even if your business seems secure, you never know how the tide can turn.

** The Power of Storytelling and Narration in Information
Marketing
By James Burt, Online Marketing Expert

Question: how much do you like telling stories?

If the answer is "very much" or "a lot," that's perfect. You are in the right business as an information marketer.

A lot of people overlook the talent to narrate or tell stories. Some even go so far as to get abusive and call these narrative- inclined types "sensationalists."

But here's the truth: it really is a great skill to have.

Taking even the most mundane weeknight story of how your kids made a mess of the kitchen or some lame joke and making it funny or interesting is no easy task. It's mastering how to articulate yourself simply and effectively to others.

This can be even harder if you are a writer of information content. Think you know a lot about a particular subject? Great, but can you convey that knowledge to a stranger in the simplest terms possible? If you can, then you are not only a born storyteller, but a born info marketer as well. As you've probably seen thus far, part of being an information marketer is going through mountains of information and compressing them into a comprehensive format for your customers to read and pay for. It's not easy by any means, but if you are a good storyteller, you can do it in a way that your clients will enjoy and that will make them come back for more.

Here are some ways to use good narratives in your information content creation:

--- Be relative: You live a life both at work and outside it. You might have kids or a group of close friends. Along the way, those people are going to set the stage for interesting stories in your life. Why not relate some of the things you are writing about to them? I learned a valuable lesson from my "e-Wealth Daily" colleagues. Adrian, John, Michael and Mathew are all four different guys with four different lives. Consequently, they often articulate their information or business content relative to something that happened in their lives. Michael might give some advice based on a business deal he made or Adrian on something that happened in his family. Do the same to kick start your written content. Other people can relate to these little matters in life, too, and will pick up on what you are trying to say faster.

--- Give it some structure: Like in architecture, you have to design a good foundation in order to build a house. And in writing content, you need to have a structure that you can use to guide your clients through your information with words. A good narrative structure is often best in this case. Have a strong introduction, a well-crafted body, and a strong conclusion. In short, a good beginning, middle and end. Clients can only understand content if it tells them something and they will want to turn the page or go to the next word if you have structured your content to do so.

--- Keep it simple but fun: Everyone loves a good story, so keep your written content interesting but simple. Don't use complicated language when writing and be sure not to put in too much extraneous information. People will lose interest in what you are writing about and may not even finish your piece.

--- Get to the punch line: Like I said before, it's good that you know a lot. But there really is such a thing as too much information. It's up to you to take whatever story you have and edit it down so it's short, sweet, and to the point. When you tell a joke, you don't spend a lot of time describing the small details. You stick to the action of the story. In information marketing, this is crucial, too. It's fine to digress or use extra, unnecessary humorous anecdotes, but only in very small quantities. Remember: your clients are paying for information, so you need to provide the information message or "punch line" as soon as possible in your content.

Storytelling is inherent in all of us. The Greeks understood the value of conveying philosophy and ideas through dialogue and plays. Good songwriters know how strong lyrics can be remembered enduringly by their audience. Comics keep their audiences in hysterics by telling stories that so laughably relative to our own lives, it's almost unbelievable. Information marketing is no different. Give the clients a good story with some valuable information and you should see the financial rewards.