e-Wealth Daily: Free Ways to Make Quick Money, Ways to Become Rich

Use These Strategies to Net More Money... Your 10 Hidden
Persuaders... The Importance of Self-image... Are You Making
These Money Mistakes?... and More.

** Use These Strategies to Net More Money
By Adrian Newman, Founder of e-Wealth Daily

Even if you've scraped together enough money to start a business, it doesn't mean your money-hunting days are over. While a successful business will sustain itself, most entrepreneurs could always use a little more money to help them get through slow periods, or to expand their businesses so they'll be more profitable. Fortunately, there are many strategies for getting more money for your business.

Suppliers: Suppliers are obviously invaluable for getting your product to market, but they might also be able to help you stretch your cash further. For instance, your suppliers might agree to extend your existing period to pay for the product — say, from 30 days to 60 days — so that you can hold on to your money longer and have more time to receive incoming cash flow to cover the payment. Additionally, many suppliers will lease equipment for a monthly fee, so that you'll get to use the necessary equipment for your business without having to pay the total cost up-front.

Lenders: If your business has a proven track record, you'll have a greater chance of securing a loan from traditional lenders, such as banks, credit unions, and SBA-certified lenders, than you would have while starting out. You also might be able to secure better loan rates, as lenders will likely consider your loan to be less risky because you have some experience under your belt. So, if you were previously turned down for a loan, don't be afraid to try again — time could be on your side now.

Investors: Just as banks will be more likely to send money your way once you have some experience, so, too, will investors, such as venture capitalists and angel investors. Investor funds might still be difficult to secure, however, since many investors are only interested in companies that have enormous profit potential. If you are interested in finding investor funds, you can make the task easier by using an electronic matching service such as Active Capital (http://www.activecapital.org/), VC Fodder (http://www.vcfodder.com/), or Garage Technology Ventures (http://www.garage.com/). With electronic matching services, you'll pay a fee to be listed on the web sites that investors use to search for companies to invest in.

Another option is to take on a partner who can bring money and expertise to your business. Many entrepreneurs opt to partner up with another company (or several companies) that have similar goals so that they can pool funds, share expertise, and collaborate in order to service larger contracts.

Keep in mind that, when you are seeking help from any type of investor, you'll have to be prepared to give up some control of your company in exchange for financing.

Your Own Pocket: Although you probably won't want to sink all of your personal savings into your business for fear of being placed in a tough spot should an emergency arise, you might have personal assets that can be used to finance your business. For instance, if you have equity in your home, you might consider taking out a second mortgage or refinancing your existing mortgage to secure a low-cost loan for your business. Most whole-life insurance policies allow the holder to borrow against the cash value of the policy. An additional benefit to this strategy is that, as you're borrowing your own funds, you'll be paying yourself back in the end — and you'll profit from the interest on the loan payments.

If you're really in a bind, you can use credit cards as a source of business capital. This is a convenient method because the money is available immediately, but it can also be an expensive option compared to loans, unless you have low-interest credit cards.

** Your 10 Hidden Persuaders
By Doug D'Anna, the "Hundred-Million-Dollar Man"

On Monday, I told you about the Other People (OP) Rule and how to use it to help you get anything you want. Today, I'm revealing my 10 hidden persuaders, or what we in direct marketing like to call "trigger patterns," which you can use to get people to do what you want them to do.

1) Ask. Asking questions is the ultimate performance tool when you want to get a "yes" in favor of your success. Asking well-crafted, intelligent questions makes a person think more about what you are offering or saying and lets new possibilities emerge in the course of your communication. Have you ever seen how quickly someone jumps to tell you their problems when you ask? It's that simple, really. Understanding someone's present needs, wants, perceptions or satisfactions is only a question away. Once you know what they want, you can develop a conversation and a strategy to meet their needs.

2) Authority. As a society, we are led by instruction. When we are young, the lessons of our teachers, parents, and other authority figures stick in our minds. Cite your experience or expertise wherever you can, and it is amazing what people will do. Give them evidence, and they will trust your opinion and advice. Demonstrate you are an insider who will share valuable information, and they will invite you into their lives.

3) Reason. If you tell someone up-front why they need something, they will confide in you. You have already figured out their needs ahead of time — even before they have, sometimes. It is our predisposition, it seems, to ask why. If you listen to children, every instruction they are given is followed up with the question, "Why?" They rely on hearing a logical answer that appeases their inquisitive instinct.

4) Care. Remember that saying, "Do unto others...?" People care about you if you care about them. And they know when you are being sincere. If you can demonstrate that you have compassion and a genuine interest, they will be more likely to trust your motives and consent to whatever you are trying to offer them. Affection and caring are at the root of our human needs. If someone thinks you genuinely care about their health and welfare, they trust that you will not hurt them or take advantage of them.

5) Commit. This is a big one. If you can show someone that you will consistently commit to their needs and interests early on in the relationship, they will come back to you time and time again. The more you can relate to their patterns of behavior and their desires, the more you become a fixture in their lives. Continue to strengthen the bond by reminding them how long the relationship has lasted in order to get more and more out of it. "You have been a preferred customer for three years now, and I have developed a new service bundle that speaks to your ongoing needs..."

6) Respect. Relate to everyone as someone you know and genuinely like, and you will earn respect. Communicate like a friend. Refer to "I" and "you" to gain a sense of intimacy and trust. Call people by name and engage in knowledgeable conversations, "Thanks for calling us in, Mrs. Appleby, to speak about our daughter's behavior in class. It must be a challenge for teachers this year to have to accommodate the 10% increase in enrollment." Demonstrate that you know the entire picture surrounding the issue at hand.

7) Reciprocate. Give and you shall receive. Haven't you ever wondered why these idioms have been around for so long? People will respond when you give them something first. If you want a babysitter, offer to watch someone else's kids to give them a free night out. If you want to make a new friend in the neighborhood, invite them to dinner. If your co-worker's mother-in-law passed away, send flowers. If you are in business, thank your customers for their loyalty by sending them a token of your appreciation. You can give away a free sample, some valuable information...anything that offers perceived value.

8) Exclusivity. People's egos are such that they like to believe their possessions are of a higher value than someone else's. If you can create a demand, you drive up the perceived value of what you are offering, whether it's a tangible product, your advice, or your knowledge. In order to show exclusivity, you need to set a deadline of some sort — a specific number of people you are letting in on some information, a time frame they must meet, some type of qualifier that creates a sense of urgency to get in on the deal.

9) Social Acceptance. You might think this is the opposite of exclusivity, but it's not, really. Because, while people want to be unique, they also want to be a part of something that is socially proven. If you can create a perception that everyone wants in or everyone wants to be a part of it, you are really strengthening your testimonial.

10) Storytelling. If you can use a real-life analogy or metaphor for the point you're trying to make, it is conveyed more powerfully to your listener or reader. Make sure it's relevant. Personal stories trigger emotions in people who might have had similar experiences, and these stories dramatically influence their behavior. Always leave someone with something to think about.

** The Importance of Self-image
By John Hurd, Chief Wealth Researcher

When you look at yourself in the mirror, what do you see? Sure, it's basically just your reflection, but seeing the image of ourselves is often more than just what our eyes pick up. Some days you'll look at yourself with pride and admiration, while other days you may look away quickly and begin to feel ashamed.

While your reflection in the mirror may not change too much over the course of a week, your perception of yourself certainly can. And it is important that you not only address these feelings, but also take steps to keep a constant and realistic view of who you are.

On what days do you mostly look upon yourself and negative feelings creep up? Most likely these are the days when things don't seem to be going in your favor. These are the days when the weight of the world comes crashing down around you. The days when it feels like there's never enough time or money. Now, it may feel like your only option is to crawl back in bed and hope you can weather out the storm. But, as an e-Wealth Daily reader, I believe you're not the type of person who gives up easily.

More than a few years ago, there was a morning when I looked at myself in the mirror. What I saw was disappointing. I'd gained weight and had huge bags under my eyes. At the time, I was looking for direction and on that day it felt as if all my searching was for nothing. It goes without saying that I had a pretty poor self-image; I saw nothing but flaws.

But I knew I couldn't let the world continue to walk all over me. That morning I put on my suit and marched out the door to uncover everything the world had to offer. And I believe that I've found direction and I want you to know that you can, too.

The next time you look at yourself in the mirror and don't like what you see, realize that you do have the power to change yourself for the better.

** Are You Making These Money Mistakes?
By Michael Newman, Self-made Millionaire

It may sound strange, but sometimes the biggest barriers to our wealth creation come from the decisions we make with our money. In fact, many people sabotage themselves from gaining wealth, keeping themselves poor by making questionable decisions with where and how they choose to spend. The only way to truly create wealth is to notice what you may be doing wrong, then doing everything you can to fix it. Here are some of the biggest problems facing people from building wealth:

Living in Excess: It seems like most of the articles about saving money all have to do with cutting tiny costs by doing thinks like by making your own coffee, cutting coupons and other ways to shave a few bucks from your monthly expenses. The truth is, it's not necessarily the small stuff people should be worrying about. Many people who are in financial trouble got themselves there by spending too much money on big-ticket items like their house or their car, resulting in monthly payments they can't really afford. If you're being stretched to the limits because of these big-ticket items, it may be worth considering a switch.

Addressing Needs and Wants: Another way we sabotage our pocketbooks is by failing to recognize the items that we need from the items we want. Sure, designer clothes and HDTVs exist and, thanks to marketing, we believe that we truly need them. The truth is that we do not. All we really need to survive is food, water and shelter; everything else is extra. Make sure when you allocate your spending to focus mainly on your needs, rather than wants that can put you further into debt.

Focusing on Short-term Costs: Generally speaking, the lower the monthly rate you pay for a given item or service, the more it is costing you long-term. This is because the longer it takes to pay something off, the higher your interest rate is. It's important to factor in the true value and cost of an item for service, and not get lost in the ways businesses dress-up their prices to make them seem more affordable.

Not Saving: When you don't have any money saved, you are leaving yourself vulnerable to any essential expenses that may come your way. For instance, if you don't have any money saved and you find yourself out of work for a short period, or you are hit with an unexpected bill, you will have to rely on credit to take care of your expenses. Doing this will only throw you deeper in debt, making it much more difficult to get out.

It is these small and simple things that keep many people from building wealth, while keeping them entrenched in debt. Try to pay attention to how you're spending and managing your money to create positive financial change for yourself and a bright financial future.