October 29, 2007

Bill Hebden: Reclusive Millionaire... Repackage Yourself to
Find the Success You Desire... Who Keeps Throwing Away
Millions of Dollars?... When the Going Gets Tough...
and More.

** Bill Hebden: Reclusive Millionaire
By Adrian Newman, Founder of e-Wealth Daily

Bill Hebden is a friend of mine whom I call, “The Reclusive Millionaire.” Simply because no one has really ever heard of him, yet he’s made millions for himself and for others.

Below is an article he’s so graciously donated to the e-Wealth Daily Bulletin. It’s about the Two Out of Three Rule, which could help you make more money for your small business.

Enjoy!

When your personal brand isn't working, don't be afraid to repackage yourself. Keep abreast of trends that may affect your prospects. Watch what people are buying and see how you can bundle those services effectively. What kinds of value-added services can you offer that the sea of competition around you cannot?

The process of branding never stops — you should never be afraid to change your brand and reinvent yourself when the times change. Even major companies have had to change and evolve in order to keep up with the competition. They use all kinds of branding strategies, from comfort to new engineering to fashion, in order to trigger buyer response. If you are afraid to reinvent yourself when times change, then you will not survive.

Here are some areas to look at when you consider your strategy for change:

Planning and positioning are key. Get back to the roots of what it is that you do best. What influence can you have on the people around you? What specific things are they looking for? Good service, reputation, progression? Take a good, hard look at what people are buying into and why. You don't have to agree with it, you just have to recognize its value. Ground yourself and figure out how to fulfill the expectations of your audience.

If you can't deliver the entire picture, can you focus on a niche? Narrow your focus and only deal with whatever part you think you can handle. Which parts of your current image can you afford to eliminate? It is better to be strong in one area than weak in several. You cannot be everything to every person. If you want to brand yourself as a leader, then you need to understand exactly whom you are reaching out to.

While you may not be at the top of your game, you risk nothing by positioning yourself against the leader in your field. You won't be able to compete with the big guys, but adopting this stance will motivate you to take on a new leadership role. Follow the trends and figure out who's on top of the game and why they are there. Always role-play as
if you were in the number-two spot. Look for unique ways to differentiate yourself from others or choose to go with an alternative product or service that might put you ahead of the pack.

Thinking outside the box is crucial if you want to reinvent yourself. What new terminology, features, or concepts can you coin? What new processes can you come up with that will put you in a leadership spot? Some brands are so recognizable that they have become household names. We call diapers "Pampers" and cotton swabs "Q-Tips."

Solicit help from individuals who are already around you when you need help in choosing the right direction to take. Microsoft solicits the help of user groups to test new beta applications, for example. Have an opinion board, a group of test users...  basically call upon any people who you trust can give you honest feedback about the direction you should take.

If you own a business where others are involved, make sure that they all adapt the new branding strategy you intend to take. Address everyone involved with a solicitation of support and make sure they implement it in every aspect of their work. Also make sure that your staff members share your passion and make an effort to live up to the brand image.

One thing I do want to say about your branding strategy is that it should stand for something substantial. Don't hinge it on one product or one aspect of what you have to offer. Make it environmental. If there are too many interpretations of what you have to offer, people will get confused.

Finally, don't be tempted to make false claims. Remember that you can never live a bad reputation down. Take what you honestly have to offer, polish it, and make it shine in a positive light. It may not seem like much at this point, but once the wheels are in motion, and you become recognized, you will begin to achieve a level of success you never realized existed.

** Who Keeps Throwing Away Millions of Dollars?
By John Hurd, Chief Wealth Researcher

The old adage “one man’s trash is another man’s treasure” has never rung more true than in this story.

On her way to grab a coffee, a woman in New York noticed a painting amid a pile of garbage waiting to be picked up. At first, she just noticed the painting and didn’t think much of it. But for some reason she couldn’t get the image out of her head, so she rushed back and rescued the painting from its almost certain destruction.

She had intended to simply hang the painting in her home and then think nothing more of it. But, while searching around on the Internet, she came across a story of a stolen painting that had long been thought lost. She looked on her wall, and her painting was the stolen painting.

After contacting the authorities to get the painting back to its rightful owners, she was given a reward and offered an unknown percentage of the painting’s sale at an upcoming auction. And guess what? The painting is expected to sell for almost one million dollars!

Now, most people actually throw out garbage, but every once in a blue moon this sort of incredible trash-turned-riches event happens.

But, how can you use a story like this to help you in the pursuit of money? Well, I wouldn’t advise dumpster diving as a career. Instead, try using a few other techniques for turning trash into cash.

Your first stop should be local yard sales. Now, if you live in a town with a college or university, the best time to go hunting is at the end of each semester and school year. You see many students couldn’t be bothered to haul larger items with them back home. Sure, you may not need any items for your own home, but you can use these items and flip them for more cash.

Ask around your local flea market to find out what sort of odds and ends the vendors may be looking to find. Keep a list with you while you hunt through yard sales and you never know what kind of things you’ll find.

And that’s just one of the ways you can make money from other people’s junk. You can also try buying and selling items on online auction web sites. An ultra-low price item you find at a police or government auction could get you your money back and much, much more once you sell it in the classifieds.

As a final word of advice, try this. If you want to start trying out this moneymaking technique, try sticking to items you know something about. It will be much easier for you to turn around and sell these items when you can give a great sales pitch.

** When the Going Gets Tough
By Michael Newman, the "Money Finder"

First off, I would like to extend my most sincere regards to all the readers in the Southern California region, which over the past nine days has been tormented by raging forest fires. I hope you, your families and friends are all safe and sound, and that you can try to maintain a positive attitude throughout these trying times.

I’m sure you know how the old saying goes, “if at first you don’t succeed; try, try again.” Of course, as is the case with many old statements, it’s much easier said than done. Believe me, I’ve been there before. I’ve seen some of my business ideas fail miserably and no matter how positive an outlook you try to maintain, there is always an initial sting.

The key to business success is being able to rebound from adverse experiences. In fact, many of the people that have enjoyed success in their life went through a period where it seemed like everything they did fell apart. But they, like me, were able to pick up and start new.

The secret to taking your losses and moving on lies in having a positive outlook. Although it is hard coming to the initial realization that your plans have failed, it’s important to look at the occurrence in a positive light. Use the failed attempt as a way to educate yourself on why the result was as it was. By noticing what you did wrong, you will be able to avoid making the same mistake in the future and you will also be able to build upon your existing knowledge. It is this kind of resiliency that pays off later, when you are enjoying the success you worked so hard for.

Taking those experiences and building on them is the best way to put together a flawless venture. A friend of mine, Tom, has a son named Jacob. Two years ago Jacob started a company in the health industry that helped doctors receive payment for all the little extras they performed for patients. However, after being in operation for a year, the company was going nowhere fast. They had a minimal client base and, realistically, the clients weren’t happy with the service.

Realizing that his business was on the fritz, Jacob knew his original idea was a failure. But instead of lulling it over, he took action. He went around to different doctors and asked them what kind of a system would work best for them.

They told him, and he created it. Now, Jacob’s business is an industry leader and a multimillion-dollar company. Imagine if he’d thrown in the towel when his original idea didn’t pan out!

You know what they say: “When the going gets tough, the tough get going.”