Mind Your Own Business

Posted by peteryan on November 9, 2012

Mind Your Own Business!
The concept of minding your own business means that while you are grinding away at your day job you need to be investing in your future and minding your own business. Pretty soon you’ll be able to walk away from that day job and mind your own business full time.
The best way to do this is through the acquisition of real estate.
Let’s take a quick look at where you are losing all your money-taxes. Taxes have been around since 1913 in the U.S. (earlier in England). While the original intention was to only tax the wealthiest of the population, obviously that’s trickled down to the masses, including those in poverty.
Now, keep in mind the more money you make the more taxes you pay. The wealthy know a way of getting around this-form a corporation. Corporations offer tax benefits and protect you from lawsuits. To learn more about this talk with one of our business coaches or your attorney.
We’ve all heard the golden rule of: Pay Yourself First.
But, many of us don’t do it. Until you learn and put this rule into effect, you won’t have any chance of getting out of the rat race. What this rule does is force you to come up with more income to pay your expenses.
There are some key areas of finance you should learn about, taking classes is one of the best ways to do this. Here are the basics you should learn:
Accounting
It pays to know how to read financial statements. When acquiring businesses or assets you need to quickly see the financial standing of the company you are acquiring.
Many grown adults do not know how to balance a balance sheet. In the long term, this knowledge will pay off for you and your business.
Investment Strategy
This skill will sharpen with experience. Talk to investors and observe how they play the game.
Market Behavior
Know the laws of Supply and Demand. No business owner can do without understanding these basic principles of the market. Bill Gates saw what people needed. Open your eyes to opportunities. Look at what sells and who buys.
Law
Do everything you can to grow your business within legal boundaries. Know your corporate, state, and accounting laws.
Once you know these areas of finances you can make them work for you. The rich practically invent money. You have to know where to find a great deal. Let’s continue with real estate. Look for houses in trouble or find the court in your area that handles foreclosed, police impound or other real estate situations. You can either renovate and sell or rent for residual income.
So, essentially there are two main types of investors:
Those who buy pre-packaged investments
Those who create their own investments
You know which are the most successful. In order to be one of those people you need to know what to look for and how to respond.
You must:
Find a good deal other people have missed.
Raise the capital needed for the transaction.
Put together a svelte team to execute the plan.
There is risk involved in every acquisition. The goal is not to avoid the risk, but to respond to the risk with confidence and a steady hand.
If you need help identifying potential money-makers, where to get the capital you need and how to put together a smart team, try our FREE test drive to gain access to our resources and tools.

Get out of the Rat Race

Posted by peteryan on November 6, 2012

Get Out of the Rat Race
We’ve all worked jobs we hated. We were underpaid, underappreciated and bored out of our minds. We either quit these jobs or were fired for poor performance because we just gave up. Instead of taking that approach you need to consider every job an opportunity to learn something new that you can apply down the line to find success.
When you give people the tools they need to come up with unordinary solutions, you are enhancing their lives for the long run. You need to take this approach. What if one of your terrible jobs had been one with no pay at all and you needed to come up with some ingenious ways of making money? I bet you could have found a diamond in that rough. This idea can also be used in your own company.
Now, I don’t recommend going into the next meeting declaring that no one will receive pay anymore, but you can tell them that their potential raises, bonuses and other perks are now dependent on their creativity in ways to enhance business.
Let’s talk about a great concept called financial literacy. This certainly isn’t something they taught you in school, but is still essential to know. So, what is financial literacy?
The old school way teaches people to be good employees and not employers. This mindset will never make you wealthy. You need to focus on becoming a good employer. You also need to learn how to not only attain wealth, but sustain wealth for generations. This is what financial literacy is all about.
So, how do you get out of the rat race and start working toward a wealthier future? You need to understand the difference between an asset and a liability. Take a look at your own life and you’ll probably find the following:
Assets
Real Estate
Stocks
Bonds
Intellectual Property
Liabilities
Mortgage
Consumer Loans
Credit Cards

You’ve probably been fooled into thinking things like your house, car and entertainment system are assets. They aren’t! Assets should be continuing to MAKE you money. When you continue to struggle, you are not building wealth. If you’re primary income is from wages and each time you make more money, you pay taxes-you’re not really creating wealth either, are you?
So, if buying a house isn’t an asset (and, it’s not because you spend about 30 years of your life paying it off), then what is. Here are some of the best assets to attain and when you can start to actually see wealth being created because of it:
Average time of holding on to an asset before selling it for a higher value:
1 year
Stocks (Startups and small companies are good investments)
Bonds
Mutual funds

7 years
Real estate
Notes (IOUs)
Royalties on intellectual property
Valuables that produce income or appreciate

So, here are the steps to getting out of the rat race and onto your journey of creating wealth:
Understand the difference between an asset and a liability.
Concentrate your efforts on buying income-earning assets.
Focus on keeping liabilities and expenses at a minimum.
Mind your own business.
If you need help getting out of the poor mindset and into the wealthy one, try our FREE test drive and work with one of our experienced business coaches today.
We went through the first three and next time we’ll talk about how to mind your own business to keep your eye on the prize.

Prepare For Lift Off

Posted by peteryan on October 25, 2012

Prepare for Lift Off!
Last time I gave you a laundry list of tips and tricks you can use to make your word of mouth program work for you. Hopefully you’ve taken a look and decided which ones are the best fit for your company, products, services and target customers, so you can put them to work in your word of mouth campaign.
We are going to wrap up this series on word of mouth where we give you the specific steps to create a word of mouth campaign.
Now, let’s take a look at those steps:
Seed the market. Find some way to get the product into the hands of key influencers.
Provide a channel for the influencers to talk and get all fired up about your product.
Offers lots of testimonials and other resources.
Form an ongoing group that meets once a year in a resort and once a month by teleconference.
Create fun events to bring users together and invite non-users. Saturn, Harley-Davidson, and Lexus have all been successful with this approach.
Develop cassettes, videotapes, and clips on your Web site featuring enthusiastic customers talking with other enthusiastic customers.
Create custom CDs for each potential customer.
Hold seminars and workshops.
Create a club with membership benefits.
Pass out flyers.
Tell friends.
Offer special incentives and discounts for friends who tell their friends.
Put the Internet to work.
Do at least one outrageous thing to generate word of mouth.
Empower employees to go the extra mile.
Encourage networking and brainstorm ideas.
Run special sales.
Encourage referrals with the use of a strong referral program.
Use a script to tell people exactly what to say in their word of mouth communication.
These are all amazing ways you can get the word out about your products and services and start a word of mouth campaign that takes on a life of its own. Before you can release your word of mouth campaign out into the world, you need to go through the checklist to make sure you’ve covered all the essentials.
Here’s your word of mouth campaign checklist:
Are all of your communications sending the same simple message? If it can’t survive word of mouth, it’s not a compelling story.
Is your product positioned as part of a category? Ex.”A dandruff shampoo that doesn’t dry your hair.”
Are your examples outrageous enough to be shared?
Do you enhance your materials with success stories from real people?
Are you using experts effectively and in an objective manner?
Have you created mechanisms so people can follow up on the word of mouth they hear, as well as simple ways of inquiring or ordering?
Have you made the decision process easy for customers?
Have you created events and mechanisms so that once a year your prospects hear about your product, and it is easier to try or buy?
These are all essential elements to take keep in mind when taking a second or even third check over your word of mouth campaigns. I hope you’ve found this series on word of mouth to be a great resource and are getting ready to put it into action for your own products and services.
Remember, if you need help with anything in this series, try our FREE test drive to gain access to the best resources, tools and business coaches you can find.

Put it to Work!

Posted by peteryan on October 18, 2012

Put it to Work!
In the last post we talked about how to conduct word of mouth research and then put that research to work. Today we’re going to give you some great tried and true ways to use word of mouth when building and executing your campaign.
We’ve done it in a list form, so you can go through and highlight the ones you want to put into action. These are offered by George Silverman which you can find in his amazing book The Secrets of Word of Mouth Marketing.
Here they are:
Give them something worth talking about
Cater to your initial customers shamelessly
Give them incentives to engage in word of mouth
Ask them to tell their friends
The customer is always right
Always tell the truth
Surprise the customers by giving them a little more than they expected
Give them a reason to buy, make them come back and refuse service from anyone else other than you
Make eye contact, and smile, even through the telephone
Find ways to make doing business with you a little better: a warmer greeting, a cleaner floor, nicer lighting, a better shopping bag, extra matches, faster service, free delivery, lower prices, more selection.
Never be annoyed when a customer asks you to change a large bill even if he doesn’t buy anything.
The customer is your reason for being. Never take her for granted. If you do, she will never come back, and will go straight to your competition.
Always dust off items, but never let the customer see you doing it.
Never embarrass a customer, especially by making him feel ignorant.
Never answer a question coming from a desire to show how smart you are. Answer with a desire to help the customer make the best decision.
Never shout across the store, “How much are these condoms?” or anything about the personal items a customer is buying.
When you don’t know, say so. Do whatever you can to find out the answer.
Every customer is special. Try to remember their names.
Don’t allow known shoplifters into the store.
Don’t ever let two sales staff talk when a customer is waiting. The worst thing you can do is count your cash while a customer is waiting.
If you can suggest something better, they will be grateful. Always respect their choice.
Never pressure anyone into buying anything.
Never knowingly give bad advice. Just help people come to the right decision.
Personally visit the store of the competition or assign people to visit and report back to you.
Hire a shopping service to prepare periodic reports on how your people are treating your customers.
If you hear of a store where the management is insulting the customers, buy it, then put up the sign “Under New Management” outside. Then sell it later based on the increased sales.
One expert (in the drugstore’s case, a nurse or physician) who is convinced you are better brings hundreds of customers and their friends through word of mouth.
Always look for ways to make a stranger a customer.
People will walk several blocks to save a dollar, or see a smile, or be treated right.
Always run a sale promotion or an offbeat event. Make them come back to see what you are cooking up next.
Use the best sign-maker you can find and pay him more than anybody else.
If someone is mad at you, they will tell everyone who will listen for as long as they are angry, maybe even longer. So correct any dissatisfaction, and ask customers to send their friends.
Treat your employees and salespeople who sell to you the same way you treat your customers.
Have a zero error system. There may be terrible consequences for example, if a mistake is made filling a prescription. Have people check each other’s work for safety.
Occasionally make intentional mistakes to see if people are checking.
Always measure your performance.
Always ask a customer to “come back soon”
If customers say they are moving away, offer to send them their favorite items by mail.
Tell jokes.

I know this is a lot of information to digest, so I we’re going to wrap up this lesson and leave you with the homework of going through and taking a look at the tips and tricks you like best. Also, look for tips that fit your company, products, services and target customers for the most effectiveness.
If you need help with this process, try our FREE test drive and get all the help you need from our experience business coaches.

Science of the Memes

Posted by peteryan on October 6, 2012

Science of the Memes
Today I’d like to discuss the science of the memes and how spreading ideas around and through society is ingrained in humans.
Memes
This refers to types of ideas that spread the fastest through society, why they spread fast and how that affects consumerism. You can use this same information to create a lasting positive impression about your company, products and services. People are more likely to try a new product or services when they feel protected and reassured by the masses.
It’s been determined that spreading ideas is essential to the survival of a society. There are 5 main situations where this occurs. They are:
Crisis
Mission
Problem
Danger
Opportunity
Think of evangelism. This is prime example of people not only spreading the word, but convincing people to jump on board and start to spread the word themselves. To do this effectively, you need to incorporate a few key things that always catch people’s eye:
Sex
News
Unique Results
The Unusual
Helping Others
Secrets
Next we are going to switch gears a little and talk about viral marketing. While, traditional marketing can be used to your advantage, the reality is viral and online marketing is the king of the castle. You can spread the word online like the plague, if you know what to do. Here are some simple steps to do this:
Find an interesting idea
Make it easy for people to experience or trial
Spread the idea while people who are in close contact with others
Take advantage of existing communication methods
Develop the way of trying your product in such a way that it automatically draws more try-ers
Some great places to use viral marketing are:
Geocities
Ebay
Roger Wilco
ICQ
AOL Instant Messenger
MSN Instant Messenger
Winamp
Hotmail
“Tell A Friend” Buttons
E-Greeting Cards
There are six things everyone should be doing to benefit from word of mouth on the Internet:
Put WOM components on your website.
Assign people to monitor your viral marketing.
Place testimonials in different places on your website to walk a customer through the purchasing cycle.
Set up an email marketing campaign.
Stay up to date on what products and services the experts in your industry are recommending.
Use your website to demonstrate the great ways people are using or finding success with your products and services.
Here are other non-viral Internet opportunities to explore:
iPhone’s
Handheld PC’s
Blackberrys
And other well connected electronic devices
This wraps up the lesson on traditional and viral marketing. If you need help putting together any of the plans or successes in this lesson, try our FREE test drive to get all the help you need to put these plans into action.