Wednesday, October 25, 2006
--1. Remember Buffett’s Rule #1: Don’t lose money. Maintain a fiduciary duty to yourself.
--2. Pick only excellent companies to invest in. Avoid the ones with major flaws.
--3. Determine a rational value for any stock you are considering. Always try to buy at an advantageous price.
--4. Learn the difference between investable trends and noise in the market.
--5. Don’t get stuck in one way of thinking. In investing, as in life, seek balance.
--6. Remember that a 50% loss followed by a 100% gain equals zero. How likely is that 100% gain? If it is improbable, avoid the 50% loss in the first place.
--7. Manage your portfolio intelligently. Investing is not a set-it-and-forget-it activity.
--8. Any investment in the stock market carries risk. Learn how to manage it.
--9. Do everything you can to stack the odds in your favor.
--10. Read, analyze, and do your own thinking. Always keep learning.
--11. If you are interested in a company, write out its ''story'' in a few sentences. If you can’t understand it enough to do that, don’t invest in it.
--12. The tortoise usually beats the hare over the long haul.
--13. Stocks don’t all go up and down together. Find the ones that are going up.
--14. Over the long term, stock prices follow corporate earnings. Look for companies with good prospects for sustained earnings growth.
--15. The market is rational over the long term and rewards sensible investing.
--16. Invest in dominant companies. They will be able to sustain earnings growth.
--17. Don’t trust management which has demonstrated lack of integrity.
--18. Investing should be fun. Don’t put your money into companies who make or do anything you don’t admire.
--19. Beware of companies with lots of debt. It’s as hard for them to handle as it is for you.
--20. Like—maybe love—dividends.
--21. Run your investments like a business: My Investment Company.
--22. Come at investment decisions from several angles for the best results.
--23. As in poker, the best investors gain the most with their good hands (stocks) and lose the least with their bad ones.
--24. Know your goals and construct strategies to reach them.
--25. Don’t be afraid to have some of your ''stock money'' in cash.
David Van Knapp is the author of Sensible Stock Investing: How to Pick, Value, and Manage Stocks. If you would like to learn about a comprehensive stock investment approach that that uses the same strategies reflected in this article, please consider purchasing Sensible Stock Investing: How to Pick, Value, and Manage Stocks. Visit our website at http://www.SensibleStocks.com to learn more about the Sensible Stock Investing approach and to purchase the book.
Article Source: http://EzineArticles.com/?expert=David_Van_Knapp
Thursday, October 19, 2006
After all, there`s the...
...absolutely positively essential `US$15K US$20K starting capital`; the `US$97 per month membership site fees`; the `US$997 holy grail trading system`; the `must attend` `US$3,447 two-day trading seminar`; the `US$150 per month live stock price feed subscription`; the `exclusive limited edition US$40 per month `insider tips` newsletter`; the `US$77 per month ultra-fantastic charting service with the bonus 3,000 previously unknown technical indicators tossed in`...etc...etc...etc...blah, blah, blah.
Sadly, far too many first-time traders get sucked in by all the hyped up tips for online stock trading spun by money-grabbing internet marketers masquerading as expert online stock traders. These greed merchants cunningly relieve the unwitting newbies of every cent they own... and then justify it by saying that it`s a `small price to pay for the knowledge that`ll make them rich!`
If you`re a first-time online stock trader and you want to avoid falling into the same trap as so many before you, then this article on `tips for online stock trading` is written for you. Please read on...
Here are three tips for online stock trading that`ll save you over US$1,500 a year!
1) Find an online stock broker who doesn`t require a minimum deposit. If you`re a beginner at online stock trading, or you`re on a tight budget, there`s no need to set up a brokerage account with `thousands of dollars` in starting capital.
Personally, I opened my first online stock trading account with just a hundred dollars! I decided that `if I got it wrong a few times...too bad. It was my learning curve and the downside risk was no more than the cost of a good night out!`
I choose Sharebuilder (http://www.sharebuilder.com) for my online stock trading debut. Unlike most other trading firms, these folk allow you to nominate a DOLLAR AMOUNT as opposed to a SHARE AMOUNT when placing your order. For example, I opted to invest US$100 in high technology stock, Imation Corporation (Stock Symbol = IMC). I paid $37 a share and ended up with 2.594 shares (i.e. $37 x 2.594 = $96 + $4 brokerage = $100). The stock climbed to over US$51 a share before easing back to the low $40`s. I took my profits at $49 a share and banked a 27% gain!
2) DON`T PAY for online stock trading information when you can get it for FREE. Why pay hundreds of dollars a year for so-called hot stock information when you can get it for free from either MSN.com or Big Charts.com? These two sites have so much online stock trading info and advice crammed into them you could spend a lifetime just reading it all!
For MSN.com, go to: http://moneycentral.msn.com/investor/home.asp and you`ll discover more tips for online stock trading than you`ll know what to do with! There are more than one hundred links per page covering every conceivable aspect of online stock trading. Market reports, IPO`s, currency exchange rates, portfolio tracking facilities, EFT`s, brokers, research tools, stock ratings, quotes, charts, company earnings, open streaming stock ticker, SEC filings, earnings estimates, analysts ratings, expert stock picks... the list is endless.
For BigCharts.com, go to: http://bigcharts.marketwatch.com and you`ll find a whole new bunch of tips for online stock trading. While the site itself is not as large as MSN.com, the depth of free technical analysis and charting tools is, in my opinion, superior. The many articles and stock reports hosted on this site are also of a higher calibre. However BOTH these sites are invaluable sources of trading information and considering they provide free access to all the data you`ll ever need, bookmark them NOW!!!
3) Profit from `back door` companies. Instead of buying highly priced shares in mainstream companies whenever such companies announce a pending `major product roll-out`, why not do what the real professional traders do...`look for other, much lower priced stocks (such as raw component manufacturers and / or suppliers to the main company) which stand to benefit just as greatly from the impending product launch. Make a shortlist of these peripheral companies, and then buy shares in the one/s that offer the greatest potential leverage to the upside.
An example of this could be finding a small but publicly listed manufacturer that supplies components to a gaming console giant like Nintendo. While Nintendo doesn`t offer much leverage at almost US$180 per share, the small peripheral supplier might be trading for just a few pennies on the OTC or NASDAQ. If the launch of Nintendo`s `Wii` later this year goes as well as some analysts expect it to, the associated OTC and NASDAQ stocks could literally `go through the roof!`
Despite what you may have been led to believe, it really is possible to begin and maintain an online stock trading career without having to use up all your capital resources on unnecessary and / or highly over-priced trading resources. Even though this article only featured `three` powerful tips for online stock trading, it won`t take too much effort on your part to unearth an entire library of them. Good luck and good trading.
Discover How Nicholas Darvas, A 25 Year Old Ballroom Dancer, Turned $25,000 into $2.25 million ... A Remarkable Trader, A Remarkable Amount Of Money And Remarkably Easy. http://www.nicolasdarvas.org/
About the Author
READ my articles; you'll FIND the most powerful insider trading plans & tips ever put together. Searching for these on your own, is a needle in a haystack (hard to find). I trade everyday & my progressive efforts found the perfect trading card, a set system & plans that really work. These online trading systems are unbelievably powerful, lucrative, reliable, yet simple to use. Until recently, I've kept this formula to myself. NOW, I reveal all.
Friday, October 6, 2006
As she stood there expectantly waiting for an answer, he struggled to come to terms with the realization that, although he had focused his complete attention on trying to create wealth for more than 10 years, he had never actually made any real headway.
He had bought and sold many Stocks and several properties over those years, but had never made any real money.
He looked at his daughter, and asked, 'What makes you think we aren't rich, darling?'
She looked at him and said, 'Because you said that if we were rich, you and mom wouldn't have to go to work any more, and you both still work all the time. You said we could live at the beach and play in the sand every day. I want to know what you are doing about that. When can we go and live at the beach?'
Nothing like a child to cut straight to the heart of the problem - and what was he doing about it?
'We're not rich because daddy made some mistakes,' he finally answered. 'What kind of mistakes, daddy,' she asked. 'Well, I bought some shares that were going down and then didn't sell them soon enough. Then I bought some houses but sold them again.' 'Why?' she asked.
He had to think about that. He had no reason to buy those shares in the first place. He had no reason to hold on to them when they kept going down. He had no reason to sell the properties either. Her logic was flawless - why?
He had to change his strategy.
He owed it to himself and his family to finally get his act together and make some changes - that was the day the pain of not living up to his potential made him sit down and write out his trading plan and his goals...his strategy and rules - his life raft.
He started by writing out his vision - what he wanted his life to look like when he became a successful trader and investor, then worked backwards from there - through the details of how he was going to achieve his dream.
He saw in his mind the 4 bedroom apartment on the beach, the red Ferrari 360 Modena, the plasma screen computer monitor in an office overlooking the surf beach 7 floors below, the family holidays in the Greek islands, the significant donations to worthwhile causes and children's charities.
He visualized all the tremendous benefits of becoming a successful trader.
He realized that he was afraid of losing, and that fear was just too expensive to let it control his life any longer!
He decided that he would no longer accept anything less than full compliance with his trading plan.
He decided that he would take every trade entry signal and follow his trading plan as if his life depended on it.
As if, after each trade was closed out, he had to stand in front of a Panel of his trading Mentors, and explain his actions to them - why he entered where he did, where he placed his stop losses, why he exited when he did.
And if they weren't convinced he followed the rules of successful trading, he would be taken out and shot!
This certainly focused his attention on only trading strong trends - trends where the price bars were trading above their respective moving averages for long trades, or below for short trades, and the Stock price was moving strongly in one direction.
He pretended that if he couldn't justify his trading decisions to his trading Mentors, he was dead...
That was the day he resolved to study his selected group of Stocks, the ones that had a track record of trending strongly, every day. He would then take every trade his system produced, put his stop loss orders in the market as he entered each trade it a place where the trend had to change to take him out of the trade, and he would hold every position until the trend changed.
He would act 'as if' he was a great trader, even though his record up to that point had been less than inspiring...
That innocent question from a child turned out to be the start of David's successful trading career.
He started to trade profitably and consistently for the first time in his life. He thought he was doing well, and indeed he was making money.
He knew from his wealthy mentors that rich people are different; they make rational decisions based on facts, not emotions. They understand the value of money - they respect it as a tool for building a better world. They buy well for logical reasons and hold until there is a valid reason to sell.
Then one day, he closed out a trade, and excitedly told his daughter, 'Daddy made a big profit in the market today darling, come and look and see what I did.'
His daughter came over to the computer and looked at the screen as he excitedly showed her where he had bought a Stock and then sold for a $3000 profit. She looked at him and said, 'But daddy, it's still going up, why did you sell it?'
His smile faded as the power of that question sunk in...why had he sold it? What was he doing getting out of such a strongly trending Stock just to take a profit? What would his trading Mentors say?
She was right...the market was still open, so he bought back in again. He had never been able to bring himself to do that before - he was becoming a great trader!
The rally continued and he kept buying more as it rallied. The trend finally changed, but his profit on that trade, when he eventually got a valid sell signal, was $14500!
His daughter's question 2 weeks earlier was worth over $11000!
That was the last time he ever got out of a trade based on his emotions. His fear of the market was gone - thanks to some simple questions from a 7 year old...
So now, it's your turn. Whenever you are preparing to place a trade, find a small child, even if you have to borrow one, and ask them what the trend is. Then don't trade the other way!
If your trading isn't as great as you know it could be, decide to create a trading plan now that will become your life raft.
Remember, fear is just too expensive.
If you are afraid of losing money, reduce your position size until your fear goes away.
Once you have made a series of small profits, you will be trading with the markets money and you can increase you position size according to your growing confidence and account balance.
If you have a series of losses, reduce your position size again until you get back on the right track. Stick to your trading plan - whether it's the one that Peter outlines for you on the website or something else you have tested by paper trading until you are confident that it works.
Then, just do it!
To Your Trading Success,
Tony Spann and the Team
(c) 2005 Stock Trading Review - All Rights Reserved.
About the Author:
Stock Trading Review is dedicated to helping you succeed as a trader by sharing with you simple and easy to follow tips and techniques. Discover more insider secrets and the exact proven strategies to trade stocks profitably: http://www.stocktradingreview.com/stock-trading.htm
I will use myself as an example. In most years there are significant time periods during which my schedule of travel and other commitments prevents me being overly active in the markets. One particular year I added a six week trip between the end of May and the early part of July in to the mix as well. During the course of that year I did a total of about a dozen trades in the stock market. Want to know my return for that year? It was more than 200%.
Now you might be thinking that this is an anomaly. It’s not.
Over about an 18 month period between 2002 and 2003 I was able to double the value of my retirement account trading stocks (I had to double it to make up for the beating the mutual funds I had been in prior to that had taken) necessarily using a much more conservative approach than in the example above. Again, that was done on a relatively small number of trades.v
Actually, I don’t normally make that many trades in any given year. If I get very far above twenty it’s rather unusual.
Clearly, I’m not a day trader. I do not get in and out of positions rapidly. My strategy is one I have formed over the years which allows me to find stocks with good upside potential that I don’t have to constantly watch. The positions I put on are intended to be held for weeks, if not months. That’s the timeframe when the largest moves happen, so that’s the timeframe I want to trade.
The strategy I use incorporates all three primary forms of market analysis – fundamental, technical, and quantitative. That said, however, I can go through the stock selection process in a couple of hours, at most. If there isn’t anything worth really looking at, the whole thing can be done very quickly.
What’s more, if I have active positions on I will generally not be looking to enter any new ones. In that case, aside from a little bit of checking up to see how the stocks are trading and if there’s any important news, there’s very little to be done. I can literally trade my system in only a couple hours a month.
Now you might be saying that I’ve got a great system. Maybe I do. It certainly works for me given the constraints I operate under with my schedule. I don’t consider it any major secret, though. In fact, I outlined it in detail in my book, The Essentials of Trading, so you are free to take a look at it for yourself.
The important point here is that I was able to develop a trading style and methodology that works for me. Anyone can do that. It is a question of making an honest self –assessment and defining an approach that fits within the parameters you have for trading or investing in the markets. Maybe you can day trade, or maybe you’re like me with limited time to dedicate to finding good stocks to buy.
Whatever the case, you have to do what works for you and realize that you can trade effectively regardless of how much time you have to put in to it.
About the Author:
John Forman is author of The Essentials of Trading (http://www.TheEssentialsofTrading.com) and a near 20-year veteran of the markets. For a free e-book on getting started in trading go to http://www.theessentialsoftrading.com/FreeGuide-GSIT.html
There are a couple of main concepts that you have to master to become a stock market millionaire. First, you have to control, reduce and eliminate your family expenses. If you can get past this step you are well on you way. Most people feel restricted when they lower their expenses but there are creative ways to do this. Don’t take your children into stores and don’t buy them junk.
My wife and I like to eat at fine restaurants. We reduce the bill substantially by sharing a plate. If a restaurant charges a “plate” fee we never go back. We also began accelerating our mortgage years ago and are now amazed at how little we have left to pay off.
Second, you have to optimize your income. You can do this by getting a second job or selling things or services in your off hours. I know this is a lot more work then your peers are putting out but financial freedom doesn’t not come free. The first two steps amount to optimizing your cash flow which is the difference between your total income and total expenses.
Third, you need to insure against all insurable calamities. These calamities include illness, death of a breadwinner, vehicular accidents, and property losses. A good insurance agent is literally worth their weight in gold (or more) in helping you create an umbrella insurance plan that covers all insurance contingencies that are economically viable to cover.
Fourth, you need to dedicate yourself to a consistent, persistent plan of study in the area of stock investing that includes investing scams and understanding risk. Fundamentally you must learn how to buy stocks low and sell them later at high price. To become a stock market millionaire this will be come your guiding principal. The more you study techniques as well as people who have been fantastically successful in the stock market the more you are going to understand what it takes to make your personal finances work toward making you a millionaire stock investor.
Fifth, you have to absolutely believe you can do it. Only you can believe in you and when you do people fall in behind you to help. The more time you spend daydreaming that you can do it the more likely you will make it a reality. Everybody’s financial path is highly personal. For me I felt I needed a Ph.D. in finance to get down my financial path but you probably won’t. You may recognize that you need to do different things to put all of these five steps to becoming a millionaire into place. Believe you can become a stock market millionaire, wake up each and every day and do what you know you need to do to make it happen and it will!
About the Author:
Dr. Scott Brown, Ph.D. a.k.a. "The Wallet Doctor" holds a doctorate in finance and can teach you how saving the daily price of a cup of coffee at Starbucks can make you a millionaire in the stock market through long term stock investing. Dr. Brown's website is: http://www.walletdoctor.com/
Read more articles by: Dr. Scott Brown, Ph.D.
“Don’t invest in them.”
I agree. Do not invest in them. What I mean by investing is buying shares of a penny stock and holding them for a long period of time (months/years) in hopes of having the price/share go up.
The majority of penny stocks do not hold their value over long periods of time. Don’t get me wrong, there are some penny stocks that have shown enormous increases in price over a long period of time, but they are too far and too few in between.
So what’s the solution? How do you make money from penny stocks?
You make money by day trading penny stocks.
What’s day trading?
Day trading is simply buying and selling shares of a stock on the same day.
But why would you want to day trade penny stocks?
Because that’s how you can make the most money in the shortest amount of time!
Penny stocks display the greatest daily percentage gains than any other stock on the market. Gains of 50-100% everyday are not unheard of. Here are some real life examples to illustrate my point.
02-09-2006 – AXIGE – 272%
02-09-2006 – VPER – 200%
02-13-2006 – PAPO – 136%
02-13-2006 – CKEI – 184%
02-14-2006 – PTSH – 366%
02-14-2006 – IELM – 115%
02-14-2006 – CSUA – 111%
02-15-2006 – LAMP – 149%
02-15-2006 – CTUM – 133%
02-15-2006 – JKRI – 116%
02-16-2006 – SEVI – 225%
02-16-2006 – RSMI – 93%
In just 5 days, you would’ve had 12 opportunities to potentially double your money!
In order to maximize the potential from these high percentage gains, you would day trade these penny stocks. You see, by day trading, you don’t run the risk of watching the stock price go down over the long term. You just buy and sell shares on the same day, sometimes even within hours and lock in your profits! You don’t have to worry about your stocks overnight because you’ve already sold them and made money!
That is the secret to making money from penny stocks. Just buy the shares, ride the increasing percentage wave, and then sell the shares at a higher price to make your profit.
The reason why so many people are not aware of this secret is that they immediately turn a blind eye to penny stocks. They don’t even bother to investigate how to make money off of it since their first impression of penny stocks is usually a negative one.
Those who keep an open mind and take the time to learn about penny stocks will discover their enormous potential for profit.
However, it’s not as simple as choosing a penny stock you think will do well. There are numerous factors that you have to look for, as well as several traps to watch out for. Taking the time to learn by reading and studying all you can about penny stocks, as well as paper trading (trading with fake money) to gain experience will help you succeed in making profits.
A lot of people view day trading as risky. However, if you think about it, the more knowledge and experience you obtain, the less risk you incur.
For example, if a person who has never gone snowboarding before was dropped on top of a mountain, his risk of making mistakes would be high. However, if he spent time on the bunny slopes learning and training, that same risk would be reduced significantly. The same thing applies to day trading. Taking the time to read and practice will greatly reduce the risks.
The beautiful thing about day trading penny stocks is that your analysis to determine which penny stock to day trade with is not as complex as the analysis done to determine which penny stock to invest in for the long term.
The analysis required to determine which penny stock to invest in for the long term requires a great deal of fundamental and technical knowledge. What’s the company’s PE ratio? How do their balance sheets look like? How’s their cash flow? (finding this information is even more difficult for penny stocks as some penny stocks do not have any earnings or revenue). Is the industry they’re in thriving? Who are their competitors? How are the support and resistance levels? What about candlestick charting analysis? Are they on an uptrend?
However, analysis done to determine which penny stock to day trade with only requires a few things to look out for such as buying pressure and volume, among other things. Remember, you’re literally buying shares at 9:34 AM and selling at 10:18 AM (just an example to point out the brevity of the situation). You don’t need to do huge amounts of analysis.
The real secret to making money from penny stocks is to day trade penny stocks. That way, you take advantage of the daily huge percentage gains that only penny stocks display.
About the Author:
Jason Brook is the author of The Ultimate Step-by-Step Guide to Day Trading Penny Stocks. His website can be found at http://www.daytradepennystocks.com
Read more articles by: Jason Brook
Monday, September 4, 2006
Having a brand-new business pay both its bills and ours from the very first week was rewarding, but the qualitative benefits are much greater. One of our customers keeps buying records from us (over $150 worth so far) even though she still doesn't have a record player. Bands we don't release ask if they can put our name and logo on their new CDs. A customer of our monthly music subscription service spontaneously started sending us copies of rare music from his collection each month. Every day our inbox is filled with messages which tell us that MeteorCity (our company) is the greatest thing since air travel. Each week a different customer calls or writes us asking if we would like to stay at his or her home. Our customers asked us to release a CD, and now that it's one week from coming out we continuous get calls from magazines and stores telling us that our customers want them to review and carry it. And, as you can imagine from all this, over sixty percent of our customers order from us again--at least once a month.
How did this happen? It's so simple it's amazing. Customer service. We try to respond to each customer individually, and when we get too many orders to do that, we still let them know that they're important--such as by dropping e-mails to let them know that we will answer their questions as soon as possible. We learned how to program, coordinate with distributors, and produce CDs on our own as we went along; but customer service we wielded as our most essential tool from day one.
I wish this was as obvious as it sounds. If it was, our jobs would be much easier. But treating customers well is definitely not a universal maxim these days. I have experienced this on the Internet by ordering from our competitors; almost invariably, they ignore our questions, botch our orders and fail to follow our requests. In the music industry, it's even worse. Stores, labels and distributors seem to try to make it as hard to order from them as possible. In some cases we've simply abandoned going through the official outlets and bought CDs from well-known bands directly through their managers. In other cases, we have to pay large fees for money orders to enable us to purchase sought-after imports. Not surprisingly, our customers are thrilled when they can later get the same CDs from us by just punching in a credit card number. We deal with the ineptitude of the outside world so our customers don't have to.
Perhaps the most amazing thing we've learned, fresh out of college and with no training in any of the areas we're succeeding in, is that the executives we talk to over the phone don't know what they're doing, either. The only difference is that we're more polite.
Our online business has a long ways to go. We have a lot more ideas than money to pay for them all. But tonight, having just received a letter from a girl who was out drinking with friends and then went home to write a long letter to her favorite music store, I'm completely confident that our customers will stick by us and tell their friends about us as we continue to learn.
The Internet connects everyone who's on it, and makes them all equals. We've heard this a thousand times, because this phrase has become part of our pop culture. So why do so many businesses persist on designing their pages and treating their customers as if the customers are merely inessential observers in the whole online experience? The Web is interactive. If you keep this in mind, and interact with your customers in a helpful and friendly way, your small business on the Internet can easily surpass the larger organizations which still haven't grasped this essential Internet principle.
You can view some of the tools used to make a successfull online business at: http://www.merchantbusinesstools.com/#label1
About The Author
Scott has been a webmaster since 1996 and has created a number of business and recreational webpages. More free information on how a successfull online business is created can be found at: http://www.merchantbusinesstools.com/#label1
These so-called "secrets" are mostly common sense and hard work. We all know these "secrets". We just have to apply them and use them consistently.
"Secret" #1 - People
Dealing with people can be hard, but we all know we must be courteous and professional. You need to accept the fact that you cannot please everybody. When you come across one of these people you cannot please no matter what you do, just deal with them firmly, but courteously and professionally. Not a "secret"!
MOE Motto -Treat people as you would like to be treated!
"Secret" #2 - Passion
We all know that we need to like we do in order to be really successful at it. If you are interested in pets do not start a business dealing with cars! ;-) Building an online business will take a lot of passion to get through the frustration, obstacles, and other difficulties. There will be many times when we will need our passion to get us through! Not a "secret"!
"Secret" #3 - Customer Service
Another "secret" is to treat the customer with respect and courtesy. It will not be easy to deal with difficult customers this way, but it can be done. I have worn down some of the nastiest customers by a continuing campaign of courtesy, politeness and professionalism!
Each time I dealt with this one lady, she was less and less rude and upset and more relaxed and easy to deal with. Eventually, she was thanking me and praising me for being so helpful and nice. Don't be condescending and don't let yourself get upset. Remain calm, yet be firm and respectful. Not a "secret"!
"Secret #4 - Promotion
To build a business, people must know that you and your business exist. Advertising, promotion and networking are how this is done. Set up a promotion schedule and stick with it. Be consistent. This may get tedious at times, but it must be done!
Write and submit articles, publish an ezine, get listed all over the web, do link exchanges, swap ezine ads, compile a fr~e ebook for viral marketing, subscribe to announcement lists, visit message boards, get involved in discussion groups........there are hundreds of ways of promoting yourself and your online business! Not a "secret"!
"Secret" #5 - Hard Work
Despite what many people have said, it is not easy to "get rich overnight" and "making thousands a week, while doing nothing" just doesn't happen. To be successful you will need to work and work hard. This is where passion for your work comes in! Not a "secret"!
"Secret" #6 - Commitment
Expanding on the hard work "secret", you will need to make a commitment to success. You must be willing to make sacrifices and work long hours. This will not happen overnight....it could take years. Are you prepared for years of frustration, hard work, ups and downs, dealing with people (good and bad), rejections, and everything else that comes along with building a business? Not a "secret"!
"Secret" #7 - Pride
Take pride in your work. Your work and your business will be a reflection of you. Build your reputation for a solid foundation of success. Be true to yourself and your business. Not a "secret"!
"Secret" #8 - Goals
Be aware of what you want and how you want to get it. Do not go blindly into business without some planning of your goals and accomplishments. Use short term smaller goals to eventually reach your long term ultimate goal of success. Not a "secret"!
So we know in order to start and build a business, we must plan our goals, be prepared for the work and commitment of building that business, and that we must build a reputation of trust and professionalism.
I know we all knew that. It just helps to be reminded once in awhile! ;-)
About The Author
Terri Seymour owns and operates MyOwnEzine.com
Learn to publish and promote your own ezine. mailto:email@example.com
Sign-up for the FR~E MOE Ezine Publishing Ecourse mailto:firstname.lastname@example.org
You can contact Terri at mailto:email@example.com
1) Generate Multiple, Self-Sustaining Income Streams
The Internet allows you to generate multiple streams of income that are more or less on autopilot; an advantage which most types of businesses (and jobs) simply don't offer. While I was on vacation, my online business continued to generate paid orders on auto-pilot.
2) Internet Businesses are Portable
As I tossed around the possibility of relocating to the beautiful countryside area that I visited on vacation, I was reminded how most people are geographically tied to their jobs.
Unfortunately, where most people live is largely dictated by where they work. And if they don't live near their jobs, lots of commuting is required, a major headache.
However, if you earn your income online, you have the flexibility of living and working most anywhere that you want, as long as you have Internet access. There aren't many businesses or jobs that give such freedom to choose where you live.
Since you can operate an online business from home, your commute to work may involve nothing more than a leisurely stroll from your breakfast table to your desktop computer. No traffic hassles, office politics, or related headaches.
3) Low Startup and Overhead Expenses
Low startup and overhead expenses mean low risk. If you try opening a retail store, manufacturing plant or other offline business, chances are you'll need several thousand dollars just to open your doors, let alone pay the monthly bills. Not so with an Internet business, which you can start, build, promote and maintain on a shoestring budget.
My basic business expenses include web hosting, Internet access, and a few odds and ends totalling well under $200 a month, yet my web sites generate six-figures yearly.
4) Tremendous Marketing Reach
Of course, one of the greatest advantages of the Internet is the ability to reach huge numbers of prospects for our products and services.
And I'm talking about ethically reaching prospects who are interested in what we have to offer; NOT about sending unsolicited email, or spam, that most of us love to hate.
The Internet is one of the greatest breakthroughs in communication since the printing press, and at the same less expensive and more versatile than virtually any other marketing method.
Estimates on the number of existing Internet users are staggering, not to mention new users who sign on daily.
I could go on and on about the various advantages of an online business, but you get the point. If you've been thinking about starting your own Internet venture, keep the above advantages in mind. They are just a few of many that make the Internet an entrepreneurs' dream.
About The Author
Marty Foley is a successful home business owner and the founder of http://ProfitInfo.com/. His Internet marketing techniques and resources have helped set the standard in e-commerce, and have often been imitated by other famous Internet marketers. They can truly help you succeed online: http://ProfitInfo.com/
Saturday, August 26, 2006
No, cashing that week's paycheck wasn't what I had been keenly anticipating... Leaving a job I hated in order to work for myself full-time in cyberspace was the dream goal I had finally achieved!
The goal of leaving the "rat race" and calling the shots in one's own profitable business - online or off - is common to many people. At times it even reaches the point of desperation. Some waste thousands of dollars in an elusive attempt to reach it.
If running your own successful business is a goal you'd like to reach, I empathize with your situation. I'll share some tips in this article that helped me "leave the rat race" for my own online business, which may also help you.
Even if you've already achieved self employment, maybe some tips I share can help increase the profitability of your existing business, online or off.
Keys To Leaving The Rat Race
1) Being a doer, not just a dreamer.
One of my favorite sayings is: "When all is said than done, more is said than done." It's easy to dream and talk about our goals, but we won't get anywhere until we take decisive action.
Before I built a successful online business, I did more dreaming and telling others about my goal than I took action toward reaching it. Finally combining my dreams with action, however, was the only thing that worked.
Caution: Don't confuse taking decisive action with making rash decisions. Temper your willingness to act with sound reasoning and knowledgeable decisions, based on sufficient research.
2) Effective time management.
Time certainly means money in the business world. The ability to manage your time effectively is an asset that can repay you many times over, in both your business and personal life.
Getting maximum productivity from your time is even more crucial if you're working a full-time job at the same time you're building your own business.
Back when I worked for an employer, time usually dragged by. Now I find that working for myself, time just breezes by and I often wonder where the time went!
At one point, I was making money in my own business while holding down my full-time regular job, but not enough to live on. Moreover, I needed more time than I had available in my spare hours to pursue things I felt would increase profits.
I then decided to cut back on the hours at my regular job, which my employer agreed to because he didn't want me to quit. This allowed time to expand my business faster and made the transition to running my own full-time business easier. If you can't or don't want to quit your job "cold turkey," consider a similar strategy.
3) Knowledge of your field.
You don't have to be an expert in your business field when first starting out. You can grow as you go, but plan on keeping abreast of developments in your field. Do so long enough and you'll become an expert. You can also team up with others who have needed expertise you may be lacking.
Despite the hype sometimes used to try to sell "instant, lazy-man's way to riches" types of products, success in business rarely comes easily or overnight. Fact is, it takes persistent effort and plain old fashioned work. Be wary of promises to the contrary.
I empathize with those that must commute 5 or more days a week to a job they don't like. However, that can be a plus. It was a strong motivation for me to persist at my own business until I went full-time. Whatever your own motivations to persist may be, they will prove useful.
Tip: It will be much easier to persist if you select a field of business that you like, as opposed to pursuing something just for the money. Then your work can be fun, not drudgery.
5) Focus on presenting solutions, not just on selling products and services.
I'm a believer in the business philosophy of "succeeding by helping others succeed." Focusing on helping clients solve their problems and achieve their goals through your products and services contributes more toward long-term success than just focusing on "selling" them products and services.
Now that my "office" is just a few steps away when I awake in the morning, it's easy to sleep in. With no boss to "crack a whip" over you as a self-employed entrepreneur, self-discipline is definitely needed. Since likely no one will see that things get done but yourself, you need to be a self-starter.
7) Marketing skills.
Regardless of what business you're in, marketing is the tool used to present the solutions that your products or services offer to the rest of the world. As the saying goes, in business "Everything is marketing."
Marketing is a skill. And like any other skill, it can be developed through knowledge and practice. Entrepreneurs can never learn too much about successful marketing.
You, Too, Can Leave The "Rat Race"!
As more and more employees of large corporations have been discovering to their dismay, neither seniority - nor years of company loyalty - guarantee any real job security. In view of this, staking one's claim in the digital Wild Wild Web seems even more attractive.
Of course, there's much more involved in leaving the rat race than can be covered in this article, but I've shared seven of the most important keys to success.
No, leaving the rat race may not come easily, nor overnight, but it's certainly possible and can be well worth the effort. If followed, these keys can help you leave the rat race, too.
About The AuthorMarty Foley is a successful home business owner and the founder of . His Internet marketing techniques and resources have helped set the standard in e-commerce, and have often been imitated by other famous Internet marketers. They can truly help you succeed online: http://ProfitInfo.com/
Wednesday, August 9, 2006
What I'm about to say may hurt your feelings, but it's time someone tells you the truth:
If your website is not making money, it’s NOBODY'S FAULT BUT YOUR OWN!
I'm warning you…this message is sharp and pointed. I guess I'm "fighting back" after hearing so many people bitch and moan…
"Oh Dan, my website is not working money or website is not making the kind of money I want. But it's not my fault…
- If only the competition wasn't so fierce…
- If only people were buying online more…
- If only I can get higher ranking on all the major engines…
- If only my affiliate will promote my stuff harder…
- If only I can get more traffic to the site…
- If only my customers will just send me more referrals…
If only… If only… If only… What a bunch of hooey!
I am here to tell you, if your website is not making money, the only finger you can point is at yourself.
If you're busy pointing fingers anywhere else, you're suffering from one of the most common "sicknesses" in business…a toxic point of view that can kill…
Passing the buck.
If you can't accept total responsibility for the success and failure of your site, you're not in control…you're powerless.
BUT…if you "own" your website completely…if you accept that it will rise or fall because of you…if you're fully accountable for it…
Then you're the power figure…and you can use your power for good -- to improve, polish, and perfect your website.
If you're willing to do the work and analyze the situation AND YOURSELF, you'll find answers to key questions like these:
***What are my problems?
***What are the true reasons why my website is not doing well?
***What am I pretending not to know/see?
and the biggest question of all:
***What do I personally need to do or have to make things better?
Maybe you need more knowledge, maybe you need more skills, maybe you need more traffic, maybe you’re not doing enough marketing…
It doesn't matter what you need. What matters is that you identify the need and then fill it!
I have a friend who says that as a business person on the web, you can take one of three approaches.
You can be a wiener (someone who throws money at a failing website), a whiner (someone who complains about throwing money at a failing website) or a winner (someone who says, "I'm going to make this failing website succeed.")
If your website is not getting enough traffic, do more per-pay-click, write articles, send out some press releases, exchange links with other sites, whatever, do something.
If your website is not converting well, hire a copywriter, re-write your own copy, test different website conversion strategies, do something.
If you don’t know how to set up your site properly, hire a web designer, learn HTML, get an auto-responder,
The key here is to stop whining, start getting mad at the situation and then do something about it.
Do whatever you want…just do something!
Don’t sit around and hope and pray your website will do better. Because it won’t.
What's the worst that will happen if you take action? You'll make mistakes.
BUT…you’ll also LEARN from your mistakes. You’ll get FEEDBACK from the marketplace so you'll know how to MAKE CHANGES so your site will be more effective.
You don’t have to get it right, you just have to get it going.
Stop whining and take action!
That's a Lok!
Copyright 2005 Quick Turn Marketing International, Ltd.
About The Author
Dan Lok is known as "The World's #1 Website Conversion Expert", with a proven track record of selling over $25.7 million dollars of merchandise and services. Dan has resuscitated copy that was previously in "critical condition" and helped his clients to double and triple their conversion rates… some as much as 417%!!! More than 200 websites have been "Lok-ed" and loaded for Internet action. Go to: http://www.WebsiteConversionExpert.com
Sunday, July 23, 2006
Over 25 years ago Bill Gates had an idea. Yes, one simple but amazing idea. That idea is now worth over $US50 billion in net income to him, making him the richest man on the planet! That idea is now residing inside your own computer!
Did you know you can turn your own idea into perpetual profits – an unending, unlimited and unfathomable stream of income. You will finally be able to quit your J.O.B. Do you want to know an amazing secret to perpetual profits? Create an asset!
Here is the simple formula: Your idea = Assset
What is an asset? I read somewhere that “it is something that you own that puts money in your pocket”. Think of your favorite rock stars – they have made millions from their asset (Music Cds). Their musical ideas are created into songs. Michael Jackson, The Beatles, Elvis Presley & Madonna have billion dollar empires from their asset – they make perpetual income year after year from their music. Stephen King and Tom Clancy create their wealth from their asset (Books) – it produces money for them years after their idea became books. And when Bill Gates sleeps he earns billions from his asset (Software) every day.
Did you know you can make tons of money through the internet by marketing your idea properly. The internet is a powerful tool to sell your ideas for lots of cool cash. For example Dell Inc, the technology giant, earns $US65 million a day in sales from their website? Yes $US65 million per day from selling their asset (computers)!!! You also can start earning perpetual profits, and millions too from your own website. Just believe in yourself.
Your idea doesn’t need to be complicated. Your idea can be simply information, such as “How to pickle eggs” or “How to scalp on the Forex market”. This may be in the form of e-Books, Audio products or Video products. Whatever it is turn your idea into an asset and market it on the internet!
This Internet Marketing stuff really works. Take action now – turn your asset into millions (maybe billions).
So what is your idea? Remember Bill Gates was once like you - he was just a man with an idea.
The amazing resource website is found at http://www.InternetProfitMentor.com
Save thousands of dollars. 100% FREE internet marketing tips and strategies.
About The Author
Erik Teh is a Senior Financial Analyst and Currency Trader.
The internet has completely changed the business world. It has changed the whole concept of how to be successful in a home business. It has also provided the opportunity for many to give up the 9 to 5 world and seek their dream on the internet. Some have made this transition seem easy and others continue to struggle.
Have you been thinking about making this change? Do you have what it takes to make this a successful move? Let's take a look at a few of the things that ultimately decide who makes the grade and who goes down with the ship.
1. Work at something you enjoy. There is nothing quite like enjoying your job. It puts a whole new perspective on the world. If you like what you do, working becomes a pleasure instead of a chore. Some of you are probably thinking, yeah right, work is not something to enjoy but rather just a pain that we have to endure.
If you decide to work from home, pick out something that you will enjoy. If you don't enjoy what you are doing, it will become the same pain as the job you have now. You may enjoy it at first, just because you are home or just because it is new. That will wear off and when it does, you had better be doing something that you enjoy or you will be one of the passengers on the sinking ship.
2. You must be disciplined. It is very easy to start wandering when you are working on the net. The internet is full of fun and interesting things and it is very easy to find yourself surfing or looking at something totally unrelated to your work.
An email arrives that looks interesting and you decide to go check it out. Fifteen or twenty minutes later, you all at once realize that you were working.
When I first started working on the internet, I found that it was taking hours to do a forty-five minute job. Use your work time wisely. I have interests that I like to explore but I have learned to do that at other times. When I go to work, I concentrate on working. I have cut my work time down tremendously since I impimented this technique.
3. Don't expect to be successful overnight. So many people have heard the internet success stories and think wealth will come fast and easy. You are starting a business and building a successful business takes time and effort.
I would not discourage anyone from seeking their dream on the internet. I never enjoyed going to work for someone else every morning. Be realistic when you start out, don't expect success to just fall in your lap. If you go in with the expectations of making a big income your first few months, you are most likely going to be disappointed.
4. Be prepared for change. The internet is ever changing and to be a successful business person on the net, you have to be willing to change as well.
You will find techniques that worked last week are antique this week. If you want to be successful working on the internet, you must keep up with the times. There is a lot of great information out there and I suggest that you devote some time each week to looking to find these new ideas.
Check out other businesses in your field and see what they are doing. Initiate contact with other business owners in your field. You may not only learn something new but joint ventures are one of the most succesful means of doing business on the net.
The internet is a great place to work. If you make that decision to venture out into cyberspace as a means of earning an income, take some time and find something you like. Create good work habits, don't have unreasonable expectations and be willing to change.
These things alone are no guarentee you will be a success but it is at least a good road to start down.
About The Author
Article was written by Raymond Johnston Jr You will find more of his articles along with web marketing tools on his website at http://www.RaymondJohnston.com
Friday, July 21, 2006
"Success." Just mention the word and you will imagine eyes beaming, faces lighting up, lips smiling. The word in itself seems to ring a happy tune, doesn't it?
Achievement. Accomplishment. Victory. Triumph. These are just few of the numerous synonyms of the word "success." Likewise, the word is usually associated with feelings of joy, pride, contentment, and gratitude.
Who doesn't want to be successful? Definitely not you and me! Of course, we all want to succeed in whatever endeavor we choose to get into. In fact, it is said that the very purpose of our existence in this world all boils down to this --- to ultimately achieve success in life, to enjoy life to the fullest.
Now, when we say success, we may be referring to various things. We may mean success in studies, success at work, success in the family, or success in business.
It is important to note, however, that success is not all about money. Although financial gain, which leads to living a comfortable life, is a significant component of a successful life, we should bear in mind that success is actually a personal thing.
Can you really achieve success in your life and your home business? The answer is a big, fat Y-E-S! Of course, you can! In fact, the two should go hand in hand. A successful home business, or financial success, can help you achieve personal success or enjoy a successful life. On the other hand, personal success can inspire and motivate you to be more productive and all the more increase the success rate of your home business.
But how can you do that? By discovering, understanding, and applying 7 best-kept success secrets to your daily living, in general, and to your business, in particular.
Are you now ready to spell S-U-C-C-E-S-S in your life and in your home business? Then read these powerful, best-kept secrets especially revealed to you!
*S - Self worth. Be aware of your self worth.
Know who and what you really are. Then strive to become the best of who and what you can be. As one character from the popular film, "The Matrix," put it: "Know thyself... To become who you are, know that you are."
Bill Gates, the world's richest man with a net worth of $46.5, knew that he wanted to work with computers the very minute he was introduced to one. At a very tender age of 13, he was already programming computers.
By discovering and accepting what your interests and skills are, you can decide which field you should get into. Then you can further develop your skills to achieve your goals, to ultimately achieve success in your life and in your home business.
Are you now aware of your self worth?
*U - Uniqueness. Know that you are a unique person.
You have your own special talents. Believe in yourself. Know your strengths and weaknesses. By knowing your strengths, you can enhance them and more effectively put them to productive use. By knowing your weaknesses, you can overcome them and eventually transform them into strengths.
Did you know that by merely listing down your unique talents, you can significantly improve your self worth? Be thankful of these unique talents and utilize them to help you achieve success in your home business and in your life.
How can your unique talents lead you to the peak of success?
*C - Commitment. Make a commitment to yourself and your goals, as well as to others.
If you have commitment, everything else will follow. Being a "committed person," you will work really hard to fulfill your responsibilities. You will be accountable for your own actions.
Be consistent. You cannot achieve success overnight. Commit yourself to do whatever needs to be done --- on a consistent basis. Be patient and persevering as you encounter different obstacles along the way. Do not hesitate to take an extra step or two to reach your goal and ultimately achieve success in your home business and in your life.
Are you committed to your goal of making your business grow and achieving success in your life?
*C - Creativity. Be creative enough to see what not everyone can see.
See an opportunity in every situation. Better yet, create the opportunity yourself. Do not just see the extraordinary out of the ordinary
About The Author
Daegan Smith is the leader of the fastest growing team of successful home business enterpernuers on the net. Find out how we're creating financial freedom all across the globe and how to get in on the action FREE at http://www.comlev.net.
If you're working a regular job and tired of the daily grind, you may be thinking how great it would be to have your own business and be your own boss. Or maybe you probably have ideas about how you could manage the job or department better. Soon you're thinking it would be great to start a business of your own and run it the way you like. It might surprise you to learn that thoughts like these are quite common.
Starting your own business is not easy no matter what you've heard. Some people are in the right place at the right time and the stars are aligned and suddenly, they're a success. Stop and think how many people you know that have been this lucky. It's very rare to succeed the first time and in fact, many wealthy people don't succeed until they've created or lost one, two or three businesses. The very reason they are a success in their own business is because of the failures they have had or great obstacles they have had to get past.
There are other people that have started their business only to find out later that it's actually worse than the job they had. This usually occurs when they have either failed to plan or have left out an integral part of the business plan. One of the most important steps in planning is your vision; not the vision of your success, but how you will get there.
For instance, it it's your dream to own a storefront, you'll have to consider the regular hours of the other stores in the location you're interested in. You'll have to be in your store, ready for customers usually six days a week, eight hours or more each day. If you're not open when regular foot traffic occurs, you'll lose money unless you find another way to bring in customers. And don't forget the extra hours you'll put in for bookkeeping, cleaning, organizing, etc., all time away from your family and friends.
Many people are giving up their job for the excitement of working from home, preferably in their pajamas. Usually, this involves doing business on the Internet or creating and selling services or products locally. Doing business in your neighborhood means you have to get to know a lot of people, either personally or through their business and related organizations. And doing business on the Internet is just another way of distributing your service or product.
To market your own service or product involves selling. Unless you're someone who could sell anything to anyone, you're going to need a lot of training and experience to make a sale. Even selling something you use and recommend yourself is quite difficult if you're not a social animal.
If you have an idea for a business that you run from your home, you'll have to consider the local zoning laws and association by-laws when applicable. Having employees arrive to your home could get you complaints from your neighbors or even worse, a violation when they call the city or the association to file a complaint.
Now let's think about when you'll make a profit. It takes time and money to establish a customer base and you will need enough money to support your business and yourself in the meantime. What will you do if it takes longer than you anticipated? Best to have a backup plan in case this were to occur.
If you're still interested in starting your own business, the key will be to know your target customer. Find out everything you can about them and make sure you are targeting them in your advertising and with the quality of your product or service.
If you're selling business-to-business, you will want to advertise in their publications, join the same organizations and generally hang in the same circle of business. If you're doing business with the public, direct your advertising efforts to local direct mail and neighborhood publications. People generally read local periodicals to know what's going on in their area. Writing an article for one of these publications is even better. And those direct mail coupons for residences are usually opened when received.
Running your own business is nothing like having a job with someone always assigning your next task or project. You will have to make those decisions yourself and make sure customer service is not affected along the way.
Once you have your business set up, it's going to take a lot of nurturing and long hours. Be ready for the day when you think all is lost and find a way to push through. If you don't push through these difficult periods, you will lose the business. For those having the ability to continue to push through, the rewards can be fulfilling and sometimes lead to surprising wealth.
About The Author
Markku Saastamoinen is an Online Business Entrepreneur and has recently created an amazing system for increasing your free time and profits in few weeks at: http://www.megapreneurwealth.com
Sunday, July 16, 2006
No matter what markets you serve; what products you sell; or what marketing tools you use, in business there's one truth you cannot escape.
Embrace this truth and profits will flood your business.
Disregard this truth and financial-cancer will eat you.
What is this truth?
Quite simply, the size and speed of your entrepreneurial success is directly proportional to your understanding of The Mathematical Formula For Making Money.
Despite serving as the corner stone of every single commercial success since the dawn of commerce most businesses neglect its power. Being so familiar with the diluted version of the formula these businesses overlook the enormous profit-potential held within.
Mindful of this blind-spot, let's now take a close look at the Mathematical Formula For Making Money:
Leads x Conversion Rate = Customers
Customers x Average Dollar Sale x Sales Per Customer = Gross Profits
Gross Profits x Profit Margin = Net Profits
Please pay close attention to what I am about to tell you: your number of customers; your gross profits; and your net profits are the least important figures in this formula.
Because they merely represent outcomes. They tell you how good or bad you're doing without telling you why. And without knowing why you're doing so well (or so bad) you are in no position to fix the cause with speed and accuracy. All you can do is guess and implement random strategies in the hope that one day your results will improve.
The real power of this formula is stored within the five highlighted variables (a.k.a. levers).
A Demonstration Of Power
Quite literally, when you apply these levers to your business your profits will increase exponentially.
Allow me to demonstrate.
Assume for the moment that your business currently operates under these circumstances:
Leads Per Annum = 10,000
Conversion Rate = 0.1 (10%)
Av. Dollar Sale = $50
Sales / Customer = 2 per annum
Profit Margin = 0.2 (20%)
Plugging these into the formula gives you a net profit of $20,000 per annum.
Let's now demonstrate the impact of improving progressively more levers without increasing your overall effort:
Case #1: Improve leads by 100%
Net profit = $40,000
Profit to Effort ratio = 1:1
I.e. for every % increase in effort you get the same % increase in profit.
Case #2: Improve leads and conversion rate by 50% each.
Net profit = $45,000
Profit to Effort ratio = 1.25:1
I.e. for every % increase in effort you get a 1.25% increase in profit.
Case #3: Improve your leads, conversion rate and average dollar sale by 33% each.
Net profit = $47,052
Profit to Effort ratio = 1.35:1
I.e. for every % increase in effort you get a 1.35% increase in profit.
Case#4: Improve all levers except profit margin by 25% each.
Net profit = $48,828
Profit to Effort ratio = 1.44:1
I.e. for every % increase in effort you a 1.44% increase in profit.
Case #5: Improve all five levers by 20% each.
Net profit = $49,766
Profit to Effort ratio = 1.49:1
I.e. for every % increase in effort you get a 1.49% increase in profit.
Observation: By simply increasing the number of levers you improve you magnify your leverage. In other words, for the same amount of effort, the more levers you improve the more your profits improve.
In this example we see that by spreading your effort over all five levers you increased your net profits by $29,766. Compared to the $20,000 increase gained from improving only one variable we see that your profit growth is almost 50% greater for doing nothing more than spreading your resources over all five levers. Imagine all the extra money you could be generating right now without any extra effort. All it takes is a simple change in focus.
Conclusion: To leverage your efforts for maximum returns you must focus on improving all five levers in your business.
An Even More Powerful Demonstration
Next, let's demonstrate the impact of improving all five variables by progressively larger amounts:
Case #1: Improve all 5 levers by 10% each.
Net profit = $32,210
Profit to Effort ratio = 1.22:1
N.B. Here's how to work out the Profit to Effort ratio. First of all work out the % increase in profit. This is derived by taking the original profit of $20,000 away from the new Net Profit and dividing the result by $20,000. In this instance our $12,210 increase in profit represents a 61% growth. Next, determine the relative effort by simply adding the % increases in each lever. In this example our relative effort is 50% (i.e. 5 x 10%). Finally, divide the % increase in profit by the % relative effort and you'll have the Profit to Effort ratio.
Case #2: Improve all 5 levers by 25% each.
Net profit = $61,035
Profit to Effort ratio = 1.64:1
Case #3: Improve all five levers by 50% each.
Net profit = $151,875
Profit to Effort ratio = 2.64:1
Case #4: Improve all 5 levers by 100% each.
Net profit = $640,000
Profit to Effort ratio = 6.20:1
Observation: As you continue to improve all five levers the magnification factor on your net profit increases at an exponential rate.
In this example we see that when we doubled our effort from case #2 to case #3 our leverage increased by 61% (i.e. ((2.64 - 1.64) ÷ 1.64) x 100). But when we doubled our efforts once more from Case #3 to case #4 our leverage increased by 135%
This has to be one of the most magnificent realisations you could ever make in business.
Conclusion: Never stop improving all five levers of your business.
A Tragic Habit - And How To Fix It
Clearly these two examples demonstrate the power of leveraging all five variables in your business.
Tragically, most businesses seem to care about only one of these levers - the number of leads. To make matters worse, of all the levers this one will cost you the most to improve!
So if you're stuck in the 'drive-more-traffic-to-my-business' trap - STOP! Instead, harness the multiplying power of all five levers and you'll find that your profit to effort ratio will skyrocket.
Or to put it another way, by applying all five levers to your business (instead of only one) you will make more money with less effort.
Right about now you may be thinking to yourself, "That's all well and good in theory but how could I possibly increase all five levers by such large amounts?"
Although there are over 200 ways to amplify these levers space restrictions preclude me from discussing the how-to's here. What's important for now is that you understand the magnifying potential stored within this formula. With this understanding achieving a 100%, a 200% or even a 1000% increase in profit is well within your grasp.
About The Author
Learn how to systematically amplify all five levers of the Mathematical Formula For Making Money quickly and easily.
Enrol in the FREE Web Baron E-Class now: http://www.outrageousprofit.com/minicourse/af.asp?id=108
Where else can you start a business that doesn’t require a fortune? What other types of businesses can you make money from that reaches across the globe without you having to change out of your pajamas at all? What other types of businesses allow you to make money online even if you didn’t have a single product or service to sell or promote?
The beauty of an online business is that you can start an online business anywhere, anytime with very little startup capital. In fact, some opportunities will even allow you to make money online without having to come up with a single cent at all! For instance, making money online through affiliate programs or selling products through a dropshipper at online auction sites. You can even make money online writing your own books or information products and selling them online. There’s lots of money to be made online! That’s precisely why many people quit their day jobs and start their own online businesses and make a very nice income working from the comfort of their homes.
It’s not all hype, for sure, because thousands and thousands of people are making an income online (if not a fortune), why not you? Why not your next door neighbor? Why not your sister? Anyone can make money online.
However, there’s a need to debunk all the hype and miraculous opportunities that many people try to lead vulnerable people to believe. Like, have you ever seen ads that go something like this:
MAKE MONEY EFFORTLESSLY FROM YOUR HOME AND EARN $108,238 IN 3 DAYS! HERE, DON”T MISS OUT…
As an Internet Marketer, it’s my job to tell you that it’s hard for anyone to make that kind of money in 3 days. There are exceptions to that rule, I know several internet marketing gurus who have made more than that in 24 hours, but that kind of success didn’t happen overnight most of the people in this caliber have been working online for years and years to get to this point. The truth is that YES, you can make money online and you can even get insanely rich! But it takes time. It takes effort. It takes patience. It takes perseverance. In actual fact, I can tell you from personal experience that it’s not very different from any other types of ‘conventional’ businesses. There’s no miracle formula and there’s no magic wand to wave. However, just like with anything in life, you’ll probably have to work very hard at your business before you start to make money online.
With that said, I will now tell you that it is POSSIBLE to make money online…..very possible and once you learn the ropes, you can duplicate that system and make more and more money online quite effortlessly and easily. With the kind of information and resources available online, to make money from an online business is not only possible, it’s almost a sure thing as long as you pick a legitimate opportunity and stick with it.
You won’t be rolling in money in three days but you can and will make money online from your online business if you are prepared to learn, to work at the business and be persistent and bull-headed about the success of your online business!
Copyright © Tanner Larsson
About The Author
Tanner Larsson is a veteran entrepreneur and the publisher of the award winning Work At Home Success Newsletter. Subscribe to his newsletter and recieve 4 EXCLUSIVE Bonuses valued at $276.
Have you ever wondered what’s in money that drives people crazy? Not that they go insane or something, but the fact that everything suddenly changes when the focus of the episode is diverted to money matters.
Why is there such a thing called “money talks?” Is it really the money that makes the world go round? These and many other questions continue to proliferate in the minds of the many especially when they see how money can influence things particularly our way of thinking.
There are so many instances that people would immediately respond to a certain stimulus where money is involved. There is always this unseen force that compels people to react immediately and act on it on an instant.
In the Internet, people would normally click on links that they thought would give them ways how to alleviate their lives. They immediately respond to an advertisement even if the matter has no solid foundation yet as to whether it will give them the advantage they were looking for or not.
If we are to look at it closely, to earn money is not basically based on the premise that somebody has to work hard to earn it. Why are the rich people do not have to do so? If you are to ask some executives of well know businesses, they would tell you that it’s not more on how they worked hard for it but on how they perceive their dreams would come true.
In this sense, we can clearly state that to be successful is a matter of attitude and perception in life.
This kind of thinking can be traced back to the pragmatic view of some philosophers about life. In pragmatism, people say that something will work out, will eventually come true if it gets us what we want. This means that a certain goal or a certain dream, though how vague it may seem at first, is deemed and considered true if it is linked to something that is good, beneficial, desirable, and worthy. In most cases, these things connote money.
That is why, because of the present economic situation, the idea of perceiving money as the answer to almost all of life’s problems is worsened. Poverty and deprivation on some of man’s basic necessities are the most common reason why people would want to have money. And the very point that most people lack knowledge on the basic utilization of money is detrimental enough to worsen the situation.
For those who know how to utilize money are those who control people from poverty. Plus, the mere deficiency of knowledge about money makes everything heavily burdened. This results to a microcosm of people being controlled by some unseen forces where they are the only ones who gain benefits from money.
In reality, if are only keen enough to observe what is going on around us, we can clearly see that we seem like robots being instructed what to do, how to feel, what to feel.
Take for example the alarming condition of the oil prices in the world market. Those who are in control would dare say that the oil production is getting minimal that is why its price in the world market is gradually increasing.
Consequently, because we are unaware of what is going on around us, we tend to believe it is so and therefore, another problem is created where money is the main focal point of the issue.
We know there are problems, anxieties, and struggles all connected to the organization we are confined but we just cannot see the main basis of the problem.
How can we solve it? To do that, we must first identify what causes the problems to happen. Where did it come from?
Thereafter, if we already know what the main cause is, we can easily modify the way we perceive on things. If everything’s slowly taking shape, we can now clearly see the reality that money is not the cause of everything. We can solidly assert that where money is involved it is not the main attraction.
Besides, when the world was created, there’s no presence of money yet, right? So, when thought creates reality especially when it comes to money, we can now clearly see the way reality is perceived by many, in which they perceived that money is not a solid foundation of truth.
About The Author
Daegan Smith is the leader of the fastest growing team of successful home business enterpernuers on the net. Find out how we're creating financial freedom all across the globe and how to get in on the action FREE at http://www.comlev.net.
Saturday, June 17, 2006
For those unfamiliar with the term, FOREX (FOReign EXchange market), refers to an international exchange market where currencies are bought and sold. The Foreign Exchange Market that we see today began in the 1970's, when free exchange rates and floating currencies were introduced. In such an environment only participants in the market determine the price of one currency against another, based upon supply and demand for that currency.
FOREX is a somewhat unique market for a number of reasons. Firstly, it is one of the few markets in which it can be said with very few qualifications that it is free of external controls and that it cannot be manipulated. It is also the largest liquid financial market, with trade reaching between 1 and 1.5 trillion US dollars a day. With this much money moving this fast, it is clear why a single investor would find it near impossible to significantly affect the price of a major currency. Furthermore, the liquidity of the market means that unlike some rarely traded stock, traders are able to open and close positions within a few seconds as there are always willing buyers and sellers.
Another somewhat unique characteristic of the FOREX money market is the variance of its participants. Investors find a number of reasons for entering the market, some as longer term hedge investors, while others utilize massive credit lines to seek large short term gains. Interestingly, unlike blue-chip stocks, which are usually most attractive only to the long term investor, the combination of rather constant but small daily fluctuations in currency prices, create an environment which attracts investors with a broad range of strategies.
How FOREX Works
Transactions in foreign currencies are not centralized on an exchange, unlike say the NYSE, and thus take place all over the world via telecommunications. Trade is open 24 hours a day from Sunday afternoon until Friday afternoon (00:00 GMT on Monday to 10:00 pm GMT on Friday). In almost every time zone around the world, there are dealers who will quote all major currencies. After deciding what currency the investor would like to purchase, he or she does so via one of these dealers (some of which can be found online). It is quite common practice for investors to speculate on currency prices by getting a credit line (which are available to those with capital as small as $500), and vastly increase their potential gains and losses. This is called marginal trading.
Marginal trading is simply the term used for trading with borrowed capital. It is appealing because of the fact that in FOREX investments can be made without a real money supply. This allows investors to invest much more money with fewer money transfer costs, and open bigger positions with a much smaller amount of actual capital. Thus, one can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital. Marginal trading in an exchange market is quantified in lots. The term "lot" refers to approximately $100,000, an amount which can be obtained by putting up as little as 0.5% or $500.
EXAMPLE: You believe that signals in the market are indicating that the British Pound will go up against the US Dollar. You open 1 lot for buying the Pound with a 1% margin at the price of 1.49889 and wait for the exchange rate to climb. At some point in the future, your predictions come true and you decide to sell. You close the position at 1.5050 and earn 61 pips or about $405. Thus, on an initial capital investment of $1,000, you have made over 40% in profits. (Just as an example of how exchange rates change in the course of a day, an average daily change of the Euro (in Dollars) is about 70 to 100 pips.)
When you decide to close a position, the deposit sum that you originally made is returned to you and a calculation of your profits or losses is done. This profit or loss is then credited to your account.
Investment Strategies: Technical Analysis and Fundamental Analysis
The two fundamental strategies in investing in FOREX are Technical Analysis or Fundamental Analysis. Most small and medium sized investors in financial markets use Technical Analysis. This technique stems from the assumption that all information about the market and a particular currency's future fluctuations is found in the price chain. That is to say, that all factors which have an effect on the price have already been considered by the market and are thus reflected in the price. Essentially then, what this type of investor does is base his/her investments upon three fundamental suppositions. These are: that the movement of the market considers all factors, that the movement of prices is purposeful and directly tied to these events, and that history repeats itself. Someone utilizing technical analysis looks at the highest and lowest prices of a currency, the prices of opening and closing, and the volume of transactions. This investor does not try to outsmart the market, or even predict major long term trends, but simply looks at what has happened to that currency in the recent past, and predicts that the small fluctuations will generally continue just as they have before.
A Fundamental Analysis is one which analyzes the current situations in the country of the currency, including such things as its economy, its political situation, and other related rumors. By the numbers, a country's economy depends on a number of quantifiable measurements such as its Central Bank's interest rate, the national unemployment level, tax policy and the rate of inflation. An investor can also anticipate that less quantifiable occurrences, such as political unrest or transition will also have an effect on the market. Before basing all predictions on the factors alone, however, it is important to remember that investors must also keep in mind the expectations and anticipations of market participants. For just as in any stock market, the value of a currency is also based in large part on perceptions of and anticipations about that currency, not solely on its reality.
Make Money with Currency Trading on FOREX
FOREX investing is one of the most potentially rewarding types of investments available. While certainly the risk is great, the ability to conduct marginal trading on FOREX means that potential profits are enormous relative to initial capital investments. Another benefit of FOREX is that its size prevents almost all attempts by others to influence the market for their own gain. So that when investing in foreign currency markets one can feel quite confident that the investment he or she is making has the same opportunity for profit as other investors throughout the world. While investing in FOREX short term requires a certain degree of diligence, investors who utilize a technical analysis can feel relatively confident that their own ability to read the daily fluctuations of the currency market are sufficiently adequate to give them the knowledge necessary to make informed investments.
About The Author
Rich McIver is a contributing writer for The Forex Blog: Currency Trading News ( http://www.forexblog.org ).
Life becomes an incredible feast of powerful experiences when you recognize all the incredible gifts, which surround you. You can have access to as much success, money and prosperity as you can imagine and allow into your life.
A major key to achieving the success, money and prosperity you desire in life is the ability to think creatively. Once you develop the ability to think creatively, you will have a great amount of wisdom and experience available to you, through the brilliant minds you are able to access, as well as your own.
A powerful way to place yourself on the path of creating success is to examine, your beliefs and attitudes towards money and abundance. What kinds of clichés have you been taught and have adopted into your life? Have you been taught that money doesn’t grow on trees, is hard to get, that rich people are filthy, and so on?
The first step you need to take in the creation of abundance is to become friendly with money, to feel good, powerful and abundant with regards to money You can do this by picking up money, looking at it, allowing yourself to relax and saying to it statements such as, I like you, I invite you into my life. Initially you may feel very strange about talking to a coin or a piece of paper. However, the attitudes and thoughts you send out have a lot to do with your energy, which will either attract money or repel it.
As a child I spent my first nine years in Russia, where poverty consciousness was rife, and people considered money to be something only crooks had. Decent people could hardly survive, so there was always a limitation of what people could have. This had a big influence on me in my teenage years, and early twenties, when I moved out of home. I would worry about having enough to survive each week. When I became pregnant and had my first child at 21, some people would look at me as if I was a lost cause and would always struggle.
At that point I decided that I wanted to be abundant. Then I began to affirm and notice the abundance I already had. I would walk into a park and think, ‘Wow how abundant am I to be able to sit in this beautiful park and smell the trees.” I would recognize that I was in an amazing country and I could have access to as many books, information and opportunities as I would allow myself. I started valuing myself, my family, friends, my talents and abilities.
I also decided to become friends with money, so everyday, I would look at a twenty dollar note or a fifty dollar note and talk to it. I would say how much I appreciated it, that I would like to pass it on, and I would also love it if it came back to me ten fold, or when I was particularly daring, one-thousand-fold. After a while I began to feel more comfortable with money, having it, using it, and sharing it.
When people pay me for my services as a healer, speaker, workshop presenter or author, I ask them to bless the money and then ask that it is returned to them in abundance. It is amazing to see the pleasure and the relaxation with which the money is usually given to me.
We do not have to live our lives with the limiting beliefs that our ancestors have lived with. If this is not the time to allow more prosperity in, then when is? Rather then having money control your life, allow yourself to learn how to play with it.
It is important to recognize that we have the ability to manifest great things in our lives as well as challenging and unpleasant experiences. It is interesting to note that it actually takes more energy to manifest what we don’t want, than what we would like. When you create what you don’t want, you lose energy and feel weakened, while when you create what you do want you feel pleasure and increase your energy.
A great affirmation to use is; “I manifest abundance with ease, grace and joy.”
Part of creating a life of prosperity is knowing what you would love and then going for it. Too often people have an intention of something they would like to create and then settle for something less just because it is easier.
*Amanda, attended a workshop I ran, because she wanted to learn how to be more grounded and manifest greater things. She was a single mother of two little children and she needed a job. I asked Amanda to tell me about the kind of job she would like. She told me that she wanted to work in a company that cared about the environment and children, she wanted a sales position with all the perks of having a company car, good salary, computer, flexible hours, occasional travel and fun. She also told me that she needed to find this job within one month.
I ran some processes by her and she participated in all the course exercises. I thought that Amanda was on the right track. She had a clear intention of what she wanted and the willingness to go after it. Amanda was also willing to create the feeling she had already achieved her goal. Now she just needed to have trust and be open to divine inspiration.
During the month Amanda went to a few job interviews and received some offers. However, none of the jobs fitted her requirements. At the same time she was getting a bit desperate as time and money was running out. Fortunately, Amanda made a promise to herself that she was not going to settle and accept second best. She had done it too many times in her life before and this was going to be different.
A week before her one months deadline was coming to an end, Amanda was driving home from another disappointing job interview, when she asked herself, ‘What would be the best company I could work for?’ Not really expecting an answer Amanda kept driving when suddenly a name of a company entered her mind. ‘It would be great to work for them’, she thought, “I’ll call the company as soon as I get home.” Then her intuition told her, ‘CALL NOW!’
Amanda stopped on the side of the road, found the company number and called. To her amazement the owner of the company picked up the phone and told her that she was just in a meeting, talking to her partners about expanding and getting a new sales person.
They set up a meeting and Amanda got her dream job. Interestingly, Amada told me that after that time she had never been able to get straight onto the owner.
If you are thinking that this is unusual, then you are limiting your own powerful manifestation abilities.
The following exercise can help you to manifest more abundance into your life:
- Relax. Take a few deep breaths and release any tension in your muscles.
- Think of something you would like to have. Begin with something simple. Then say to yourself, ‘Divine Intelligence of the Universe, I'd like to order (place you wish).' If you have a time-frame it can be helpful to state it.
- To finish say, 'Thank you!' and let it go.
- Trust that you have been heard and that your desire will materialize soon.
It is important to note that your ability to let go and enjoy life right now will play an important role in how fast you receive your order. Remember, when you send a letter to someone you trust that the post office knows what to do and that the person you are sending the letter to will receive it. You don't call the post office every half-an-hour. If you have that much faith in the postal system, place the same trust in the intelligence of the universe. The less expectations you attach the quicker you will receive.
To help people achieve their aims I have created a powerful manifestation CD, titled Success, Money and Prosperity. This contains some very in-depth processes, which have created wonders for myself and my healing clients.
*Emily was another workshop participant, who wanted to expand her manifestation abilities. She participated in an experiment of using the above mentioned exercise in order to test it. Emily gave a twenty dollar note to another participant, blessed it, closed her eyes, relaxed and asked the money to return to her ten fold within one week.
The following week I received an e-mail from her stating that she unexpectedly received $2000 from a family member who had previously never given her money.
After hearing some of the abundance exercises Anna*, (a former client) went and opened a savings bank account. Even thought she did not have any savings yet. Within two days she received and unexpected phone call from her employer telling her that she was getting an $800 bonus.
There are many exercises and ways to manifest abundance. It is important to ask, to be clear, trusting and grateful. The process for manifesting is very simple and enjoyable. All you have to do is be open to using it.
About The Author
Inna Segal is the creator of Inner Kiss™ Healing and Visionary Intuitive Healing™.
She conducts face to face, distance healings and workshops. She also created amazing CD’s for self healing, wealth, success, happiness, wellbeing and confidence. Inna is a highly sought after healer, writer and speaker who has appeared on National TV and media. For more information visit www.innerkiss.com or e-mail firstname.lastname@example.org