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Archives

December 10, 2007

My Four Simple Success Rituals... Take a Lesson from the
Success of Others... Is MLM Right for You?... Dealing with the
Holiday Crunch... and More.

** My Four Simple Success Rituals
By Adrian Newman, Founder of e-Wealth Daily

I'm often asked one simple question: "What does it take to become successful?" Unfortunately, I cannot give a concrete answer to this question, since success is measured differently for each individual.

A success to Warren Buffett is probably a lot different than a success to your next-door neighbor, for example.

But when someone asks me what I do personally to become successful, I tell him/her that I rely on four specific things:

  1. I get up early in the morning.
    Remember the old saying "The early bird gets the worm?" Well, it's amazing how much more I can achieve by waking up early. By adding a half-hour to my workday, I can accomplish a lot more and, therefore, become more successful.

    Give it a try. Simply adding a half-hour to each day, five days a week, will give you an extra two and a half hours to focus on making money. Plus, the earlier you start, the less distractions you'll encounter.

  2. I try and focus on one thing at a time.
    I'm a natural-born multitasker and sometimes that gets me into a little bit of trouble. I find that when I can focus on one specific task, Iachieve a lot more.

    Some people are "crowd pleasers," meaning that they will become a jack-of-all-trades so that they can please everybody.
    While this might sound good in practice, I've found that focusing on one specific item is the best way to achieve success. In fact, the more you become an expert on one specific thing, the more successful you'll be at achieving all the tasks you have set out for yourself.

  3. Stay receptive and listen to everything and everyone.
    I'm in contact with a lot of people each day. I hear some really great ideas and I hear some ideas that might not work with what I'm trying to accomplish. But the common denominator is that I listen to everything.

    If you shut your ears (and, in turn, your mind) to the possibility of a good idea, you could be missing out on a big-time success. Sometimes, the most far-fetched idea could be the most profitable, if you just take a moment to listen to it.

  4. Patience, patience, patience.
    I am not the most patient person in the world. But what I do know is that it takes time to achieve success. Sometimes, it's a few days, sometimes a few months. I try to do everything I can to get the wheels turning on a moneymaking idea. But at some point, I have to realize it's going to take time.

    This doesn't mean that I don't put the pressure on. What it does mean is that if I'm told getting something will take three days, then I'll wait it out for those three days. However, if it looks like it's going to take four days, then that's when I start the "squeeze."

Remember, these are just my personal success tips. They might not work for you, but give them a try. Who knows?

They could mean the difference between just getting by and achieving super success!


** Take a Lesson from the Success of Others
By Doug D'Anna, the "Hundred-Million-Dollar Man"

A good mentor can take you by the hand and knock years off your quest to achieve your life's biggest dreams. It can be intimidating, stressful and difficult to start a new career or to start your own business if you're a novice, so getting help from someone who has already been through the gauntlet can be invaluable.

Think about the people you have met or individuals who you have heard about. Do you know somebody who you really admire? Approach this individual about the prospect of him/her becoming your mentor. It might seem silly now, but, believe me, people do this all the time and it is a great way to get your hands on information. A mentor could help you find success and wealth.

The mentoring process should take some type of organized approach or you will never benefit from the information you receive from your mentor. In order to be successful, both parties must recognize the following aspects of the relationship:

Accepting the Role: A mentor needs to understand his/her role and be able to commit appropriate skills and knowledge to helping you excel. If they cannot provide this insight, then they would be better to refer you to a colleague who you could establish a more effective relationship with. They also need to agree that they have adequate time to support such activities. Make sure you clarify your needs to your prospective mentor before you initiate the association.

Initiating the Relationship: There must be willingness from both parties to establish more than just an initial meeting. This isn't a journalist's interview. It is a long-term attempt at effective communication and the nurturing of business processes and personal guidance.

Establishing a Climate of Support: You are learning the ropes here. You need to understand what is expected of you, in the eyes of your mentor. He/she will not just willingly give you help in return for nothing. They expect to see some progress, some growth on your part. It would help to set out some tests at task level. What I mean by this is that when they teach you something, discuss how you will apply that knowledge in a practical way and let them help you measure your success. They will then be able to give you constructive feedback and you can move on from there. Make the relationship reciprocal; it's not supposed to be a one-way communication feed.

There are some strategic questions you can put forth in your initial interview with your prospective mentor, after you have introduced yourself and expressed your intentions. They are designed to help you understand whether or not the mentor's knowledge and direction will fit well with your needs. I'll reveal these to you on Wednesday.

 


** Is MLM Right for You?
By John Hurd, Chief Wealth Researcher

In my research, I come across dozens of moneymaking opportunities almost every day. Some may be creative ways of personal financing and money management. And there are others that are actual business and networking ideas that come with the promise of making you a lot of money.

One such opportunity is known as MLM. If you haven't heard the term before, MLM stands for Multi-Level Marketing. Most often it involves opportunities where you receive sales commissions based on recruiting new sales people and often for selling a product or service as well. These opportunities come in all shapes and sizes and are far too numerous to name here.


I was at a conference recently where Donald Trump was taking questions from the audience. One lady took the microphone and asked what Donald thought about MLM opportunities. He said he thinks they are great. I do agree with him, but I also offer a word of caution. MLM can take a lot of work and you really must be a people person.

There are plenty of benefits to this type of marketing and selling; you get to meet new people, you have the possibility of setting your own hours and you may even determine your own success by the level of commitment you put behind your work. If you?re a busy person and you find yourself meeting new people all of the time, an MLM opportunity could be something worth looking into. However, if you find yourself not comfortable with the idea of networking and always looking for new contacts, I'd recommend you look elsewhere.


Before you jump into any MLM opportunity, make sure you research the company, look at its history and find out everything you can. If possible, talk to other people who are also in the same MLM network. Get their thoughts and ask them about how many hours they find themselves working and if they are finding the financial success that they hoped they would achieve.


MLM could be your key to success, but make sure you understand the path you?re venturing on before you set the wheels into motion.

 


** Dealing with the Holiday Crunch
By Michael Newman, the "Money Finder"

Last weekend, I braved the cold and the crowds and got down and dirty to do a little Holiday shopping. Thankfully, I was able to get most of it done between Friday night and Sunday afternoon, leaving me with a relatively stress free December to now look forward to.


When I was out, though, I was experiencing bedlam all around me. People acting rudely, pushing, shoving and staring down in shock as they signed away their savings on the latest gizmos and gadgets to be wrapped up and given to their loved ones. It became clear to me just who had and who hadn't set budgets for their holiday expenditures.


Knowing exactly how much you plan to spend before you leave the house for the shops this holiday season is essential to ensure you don?t lose your mind -- and your savings -- when your credit card bill rolls through the door in January. Here are a few tips to help you make the most of your money this holiday season:


- Take out your bills from last year and look at just how much you spent. Now, try to look at any possible reductions you can make so that you're a little easier on your wallet this year. - Next, encourage the people you buy for to give you a wish list, so you'll know exactly how to prioritize and allocate your spending. The list is also helpful because it limits the amount of "browsing" you'll do, thus avoiding impulse buys.


- Try to limit your reliance on credit. Stopping at the bank machine on your way to the malls is a great idea. This way, you're only spending the money that you have and not increasing your debts.


- Also, be on the lookout for deals. Lots of stores are offering savings for holiday shoppers, so be sure to get to them early so you get everything on your wish list.

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