Tuesday, August 21, 2007
Friday, August 17, 2007
How-To Make Your Ezine Stand Out From The Masses
This morning, I was contemplating the question of how many ezines (electronic magazines) were currently in circulation. So, I tried to do a bit of detective work.
* Newsletter Access (http://www.newsletteraccess.com/) has nearly 10,000 ezines listed in their database.
* PubList.com shows 150k in their database.
* The ISSN (International Standard Serial Number) database has so far registered more than one million periodicals, many of those being in the electronic format. (http://www.issn.org/)
No matter which set of numbers you follow, there are a lot of ezines competing with your ezine for the same set of readers.
With so much competition in the marketplace for ezine subscribers, it is imperative for us to learn how to develop a loyal following among our own subscribers. In this article, I examine a three ezines that are excelling in the marketplace and building a large and loyal following of readers. I will also look at three reasons why these three e-zines are doing so well.
The Electronic Newsletters That We Will Review...
1. Travel by Vasrue Weekly E-Magazine (http://travel.vasrue.com/newsletter/index.html)
2. Your Membership (http://www.yourmembership.net/)
3. SiteProNews (http://www.sitepronews.com/)
Original And Exclusive Content
All three of these electronic newsletters utilize original content at one level or another.
* Travel by Vasrue uses only exclusive, original, travel content in their E-Magazine.
* The Your Membership newsletter, owned by AEO Publishing, Inc., provides a section of their newsletter for webmasters to submit websites for review, and then they print some of those reviews for their readers to consider. They also allow individuals to submit questions, and then they print the best answers submitted by their readers.
* SiteProNews, owned by Jayde Online, Inc., utilizes a lot of first-run, original content written by members of their staff, including articles written by Jim Hedger and Mel Strocen. Some of this content can be seen in other publications later, but you will always see it in SiteProNews first.
Exclusive content allows your ezine to stand far above all of your competitors. While free reprint articles (like this one) are a good source of information, most of your competitors rely solely on other people to create the content for their newsletters.
For most readers, this is not a big deal, except when the particular article used may have been read in competing ezines previously.
Readers tend to favor ezines that utilize exclusive or first-run content in their issues.
A Winning Formula
Successful ezines always have a specific format and formula for their publications.
* Travel by Vasrue focuses on giving their readers specific information that they can use to make good travel decisions. They also provide specific information regarding a choice of vacation options within the context of their currently discussed travel destination.
* The Your Membership newsletter focuses on offering their readers an opportunity to ask questions and to have those questions answered by other readers who have the knowledge to share.
* SiteProNews prefers to provide content that will point you to third-party resources that are related to the current topic.
Once an ezine has found their winning formula, that formula will become their trademark.
They Understand Their Readers
If you do not understand what your readers want from your newsletter, you will never be able to develop a profitable mailing list.
* Travel by Vasrue doesn't leave it to chance. They ask their readers what destinations they would be interested to find specific information. Then they deliver exactly what their readers have asked to receive.
* The Your Membership newsletter is offered on a dozen or so websites that cater specifically to the needs of webmasters who are looking to develop a commercially viable website. While the source of the subscription pretty much defines what their readers want to see in the newsletter, the fact that they rely on the Q&A process to fill their issues helps them to select articles that would be of real interest to their readers.
* SiteProNews is offered to the people who use Jayde Online's many free webmaster tools. Their newsletter caters to the needs of those commercial webmasters who are already utilizing their free tools.
In Conclusion...
Successful ezines are those that are willing to cater to the specific needs of their readers, and then they deliver their information in a consistent format. Successful ezines are also those that are willing to invest the extra time, effort and money into creating one-of-a-kind, original content for their readers to voraciously consume.
While those reprint articles are often very informative, I am sure that you hate it when you see the same article appear in a number of the ezines that you read. A once-in-a-while repeat article is all well and good, but if one ezine is consistently following in the footsteps of another ezine you read, then why would you want to keep reading the second?
The Your Membership newsletter has shown us that utilizing mostly reprint articles can prove successful, when you are willing to mix some other kinds of exclusive content with the free reprint articles. SiteProNews has shown us that you can be successful when you are willing to mix original, first-run articles with reprint articles.
By following the lead of those who have been successful before you, you might just find that you can build your mailing list to be a very profitable aspect of your overall enterprise. It is my hope that this free reprint article has given you some food for thought as to how to follow in the steps of those before you.
* Newsletter Access (http://www.newsletteraccess.com/) has nearly 10,000 ezines listed in their database.
* PubList.com shows 150k in their database.
* The ISSN (International Standard Serial Number) database has so far registered more than one million periodicals, many of those being in the electronic format. (http://www.issn.org/)
No matter which set of numbers you follow, there are a lot of ezines competing with your ezine for the same set of readers.
With so much competition in the marketplace for ezine subscribers, it is imperative for us to learn how to develop a loyal following among our own subscribers. In this article, I examine a three ezines that are excelling in the marketplace and building a large and loyal following of readers. I will also look at three reasons why these three e-zines are doing so well.
The Electronic Newsletters That We Will Review...
1. Travel by Vasrue Weekly E-Magazine (http://travel.vasrue.com/newsletter/index.html)
2. Your Membership (http://www.yourmembership.net/)
3. SiteProNews (http://www.sitepronews.com/)
Original And Exclusive Content
All three of these electronic newsletters utilize original content at one level or another.
* Travel by Vasrue uses only exclusive, original, travel content in their E-Magazine.
* The Your Membership newsletter, owned by AEO Publishing, Inc., provides a section of their newsletter for webmasters to submit websites for review, and then they print some of those reviews for their readers to consider. They also allow individuals to submit questions, and then they print the best answers submitted by their readers.
* SiteProNews, owned by Jayde Online, Inc., utilizes a lot of first-run, original content written by members of their staff, including articles written by Jim Hedger and Mel Strocen. Some of this content can be seen in other publications later, but you will always see it in SiteProNews first.
Exclusive content allows your ezine to stand far above all of your competitors. While free reprint articles (like this one) are a good source of information, most of your competitors rely solely on other people to create the content for their newsletters.
For most readers, this is not a big deal, except when the particular article used may have been read in competing ezines previously.
Readers tend to favor ezines that utilize exclusive or first-run content in their issues.
A Winning Formula
Successful ezines always have a specific format and formula for their publications.
* Travel by Vasrue focuses on giving their readers specific information that they can use to make good travel decisions. They also provide specific information regarding a choice of vacation options within the context of their currently discussed travel destination.
* The Your Membership newsletter focuses on offering their readers an opportunity to ask questions and to have those questions answered by other readers who have the knowledge to share.
* SiteProNews prefers to provide content that will point you to third-party resources that are related to the current topic.
Once an ezine has found their winning formula, that formula will become their trademark.
They Understand Their Readers
If you do not understand what your readers want from your newsletter, you will never be able to develop a profitable mailing list.
* Travel by Vasrue doesn't leave it to chance. They ask their readers what destinations they would be interested to find specific information. Then they deliver exactly what their readers have asked to receive.
* The Your Membership newsletter is offered on a dozen or so websites that cater specifically to the needs of webmasters who are looking to develop a commercially viable website. While the source of the subscription pretty much defines what their readers want to see in the newsletter, the fact that they rely on the Q&A process to fill their issues helps them to select articles that would be of real interest to their readers.
* SiteProNews is offered to the people who use Jayde Online's many free webmaster tools. Their newsletter caters to the needs of those commercial webmasters who are already utilizing their free tools.
In Conclusion...
Successful ezines are those that are willing to cater to the specific needs of their readers, and then they deliver their information in a consistent format. Successful ezines are also those that are willing to invest the extra time, effort and money into creating one-of-a-kind, original content for their readers to voraciously consume.
While those reprint articles are often very informative, I am sure that you hate it when you see the same article appear in a number of the ezines that you read. A once-in-a-while repeat article is all well and good, but if one ezine is consistently following in the footsteps of another ezine you read, then why would you want to keep reading the second?
The Your Membership newsletter has shown us that utilizing mostly reprint articles can prove successful, when you are willing to mix some other kinds of exclusive content with the free reprint articles. SiteProNews has shown us that you can be successful when you are willing to mix original, first-run articles with reprint articles.
By following the lead of those who have been successful before you, you might just find that you can build your mailing list to be a very profitable aspect of your overall enterprise. It is my hope that this free reprint article has given you some food for thought as to how to follow in the steps of those before you.
Have We Really Seen The Death Of Article Marketing?
Article marketing has been an effective method of website promotion that has literally been used since the inception of the public Internet. I have been online since November of 1995, and even in those early days, I would read people's articles and click the link in their resource box to learn more about their website.
The Early Days of Article Marketing
In those early days, there were a few players who recognized the value of article marketing. The two writers who were most influential to my use of article marketing, as a promotion method, were:
* Dr. Nunley (http://www.DrNunley.com) has been online since 1996, and this website was registered in Oct. of 1997. Dr. Nunley was influential in that he taught me the power of syndicated article content. * Wild Bill Montgomery (http://www.MakingProfit.com) started his website in Nov. of 1998. Wild Bill offered one of the very first article distribution websites. I received his daily mailings for nearly a year, until he shut his article system down. I subscribed to Wild Bill's mailings, so that I could locate articles for my own publication and website, and later to distribute my own articles.
It was in the aftermath of the demise of Montgomery's article distribution system that I wrote my first script to enable me to make better use of this promotional method for my own articles. That original script was adapted later to became the foundation for my article distribution service a couple years later.
How Article Marketing Came To Be Regarded As A Powerful Tool
For several years, article marketing remained a promotion technique utilized only by a few hundred people who fancied themselves as decent to good writers. These individuals were able to generate quite a buzz for their own websites. The buzz in turn created streams of traffic to their websites, and more importantly, sales.
Their articles were picked up regularly by ezines, which need good content to retain the attention of their readers. Publication of the articles in ezines resulted in thousands of website visitors in just a few days. My biggest ezine publication event resulted in 16,000 visitors in the first 96 hours after publication. I regularly see thousands of visitors in three-to-four days, due to publication in individual ezines.
Articles that I had written in 1999 still reside on websites where they were originally published those many years ago. And, I still see regular traffic from the placement of those articles. Yes, and I still retain link popularity and good search engine rankings, as the result of the placement of those articles on third-party websites.
Many writers were seeing the same results as I had seen, and they told others about their great success. People began to pay attention and take advantage of the technique for their own promotion.
A New Breed Of Article Marketers
In late 2004, the market changed when people decided that the only goal of article marketing was for the purpose of link building for link popularity purposes.
A few new distribution systems popped up only targeting placement of articles on third-party websites. With these new systems, the article writers had to put their own articles into the distribution services database, and they had to select a general category for the placement of their articles.
Suddenly, with these new fully automated systems, computers were left to answer the most important question of category placement. These new systems left this important question to the computers to solve.
People were being removed from the article placement process, because people cost more money to employ, leaving a lot of results to chance. But, the new breed of article marketers did not care. They liked the lower cost of human-free article placement.
The Four Primary Players in of a Successful Article Marketing Campaign
There are four primary players in the article marketing game. First of course is the writer. Then there is the distribution person or service. Third is the website owner or ezine publisher. And the final element is the person who will read the article and act upon what they read in the article.
Sometimes the writer is the same person as the distribution person. That is fine. The website owner or ezine publisher is actually the most important person in the link building process, because he or she wants to be sure that the fourth person, the reader, will be happy with what they are publishing.
Believe it or not, the website owners and the ezine publishers are frequently very selective about what articles they are willing to accept from a writer or distribution service. After all, if the readers are not happy with what is published on the website or ezine, then the reader will not feel a need to return to either one. Webmasters and ezine publishers, who are committed to success, will be even more selective in their article choices.
To see what website owners really think of many of the automated article distribution systems, read this: http://www.articledashboard.com/forum/viewtopic.php?id=4679
Any writer or article marketer, who does not pay attention or consider the needs or desires of webmasters or publishers in the process, is condemning their article marketing campaigns to failure.
Twisted Logic
When this new breed of article marketer began showing up at my article distribution service, I found myself in many strangely naïve conversations.
People would enquire about the value of our service. Naturally, I would mention publication in ezines as a method of driving thousands of targeted visitors to their website. Then I would mention the value of links on third-party websites, which results in the double benefit of targeted traffic from the third-party website and link popularity for search engine rankings.
Frequently, people would tell me that they literally "do not care about placement of their articles in ezines." They continued to explain that they were only interested in placement on third-party websites for the purpose of influencing their search engine rankings.
Wow! Every time I heard someone make this claim, I would think to myself about the shortsightedness of this approach. In my experience, link popularity and search rankings were a long-term benefit, and the publication of an article in an ezine is what was generating the most immediate and largest amount of click-through traffic to my websites.
But, who am I? I am just some guy who had been using this marketing technique for five years at that time, and I was a person who had been providing distribution services to other writers for several years. Why would anyone want to hear my thoughts on the subject?
The Proclaimed Death of Article Marketing as an Effective Promotion Tool
I have been hearing rumors for years of the death of article marketing as an effective marketing tool. Here are a couple samples:
* Dmitri Davydov proclaimed in June of 2007 that "'article marketing' has been long dead." (http://www.nichegeek.com/article_marketing_is_it_dead_yet) * In May of 2007, a few people in this forum thread declared that article marketing does not work, one of them just a little more vehemently than the rest (http://forums.digitalpoint.com/showthread.php?t=338394).
What I find somewhat funny and disconcerting at the same time is that most of the people making this proclamation actually admit that they have only tried article marketing with "one or two articles". In their wisdom, you should ignore people like me who have seen success with this promotion method, and you should follow their advice to abandon all hope for article marketing as a method for website promotion.
I have asked a few people to better define the status of article marketing:
1. Does article marketing not work? Or, 2. Did article marketing just not work for them?
The Nail in the Paid Links Coffin
On April 14th, 2007, the Google Guy (Matt Cutts) spoke out against paid links. A firestorm of complaints from webmasters followed Cutts' initial comments.
On June 12th, 2007, Cutts' original comments became official Google policy as shown here (http://googlewebmastercentral.blogspot.com/2007/06/more-ways-for-you-to-give-us-input.html)
Vanessa Fox of Google summed up the issue very succinctly, "Links that are purchased are great for advertising and traffic purposes, but aren't useful for PageRank calculations. Buying or selling links to manipulate results and deceive search engines violates (Google's) guidelines."
Confusion Ensues Over Paid Links
With Google officially stomping on "paid links," a lot of confusion entered into the marketplace. The confusion really hinges on one simple question: What kinds of links does Google consider to be paid links?
Many people have extrapolated Google's campaign against "paid links" to suggest that anytime someone pays money for a link building activity, then the links created during that activity will be construed by Google as a paid link, and that link will be discounted or ignored by Google. But, that simply is not the case.
Some have even chosen to lump "article marketing" as a "paid link", thereby decreeing that article marketing is truly and finally dead.
But all one has to do to gain a different point of view is to listen to Matt Cutts' comments from the SMX Search Marketing Expo in Seattle on June 4th, 2007 (http://videos.webpronews.com/2007/06/04/smx-seattle-matt-cutts-on-duplicate-and-paid-search/).
Within this video, Matt Cutts said, "If you are going to syndicate your content, try to make sure people know that you are the master or source of it. You can do it with a link from the article or link from the video, or stuff like that..."
The End of Article Marketing As We Knew It...
I don't know about you, but I read Cutts' last comment above as an indication that Google still considers article marketing to be a valid and Google-approved method of building links to one's website.
But, no matter how we cut it, we have in fact passed "the end of article marketing as we once knew it." Here is why:
* Some people will never have the chance to read this article and make their own mind about whether what I say has merit, or not. * Some people will simply trust the fear mongers who have been trying to declare article marketing dead for years. * And, some people will decide that they are not willing to take the chance that I might be right.
Going forward, we will see a fewer people using article marketing as a promotion technique.
The fact is that many people have quit using article marketing as a promotion technique. This outcome will only strengthen the hand of those of us who continue to utilize article marketing to promote our websites. After all, with fewer people using articles to market their websites, we will have fewer writers to compete with, in order to get attention for our own articles.
The Early Days of Article Marketing
In those early days, there were a few players who recognized the value of article marketing. The two writers who were most influential to my use of article marketing, as a promotion method, were:
* Dr. Nunley (http://www.DrNunley.com) has been online since 1996, and this website was registered in Oct. of 1997. Dr. Nunley was influential in that he taught me the power of syndicated article content. * Wild Bill Montgomery (http://www.MakingProfit.com) started his website in Nov. of 1998. Wild Bill offered one of the very first article distribution websites. I received his daily mailings for nearly a year, until he shut his article system down. I subscribed to Wild Bill's mailings, so that I could locate articles for my own publication and website, and later to distribute my own articles.
It was in the aftermath of the demise of Montgomery's article distribution system that I wrote my first script to enable me to make better use of this promotional method for my own articles. That original script was adapted later to became the foundation for my article distribution service a couple years later.
How Article Marketing Came To Be Regarded As A Powerful Tool
For several years, article marketing remained a promotion technique utilized only by a few hundred people who fancied themselves as decent to good writers. These individuals were able to generate quite a buzz for their own websites. The buzz in turn created streams of traffic to their websites, and more importantly, sales.
Their articles were picked up regularly by ezines, which need good content to retain the attention of their readers. Publication of the articles in ezines resulted in thousands of website visitors in just a few days. My biggest ezine publication event resulted in 16,000 visitors in the first 96 hours after publication. I regularly see thousands of visitors in three-to-four days, due to publication in individual ezines.
Articles that I had written in 1999 still reside on websites where they were originally published those many years ago. And, I still see regular traffic from the placement of those articles. Yes, and I still retain link popularity and good search engine rankings, as the result of the placement of those articles on third-party websites.
Many writers were seeing the same results as I had seen, and they told others about their great success. People began to pay attention and take advantage of the technique for their own promotion.
A New Breed Of Article Marketers
In late 2004, the market changed when people decided that the only goal of article marketing was for the purpose of link building for link popularity purposes.
A few new distribution systems popped up only targeting placement of articles on third-party websites. With these new systems, the article writers had to put their own articles into the distribution services database, and they had to select a general category for the placement of their articles.
Suddenly, with these new fully automated systems, computers were left to answer the most important question of category placement. These new systems left this important question to the computers to solve.
People were being removed from the article placement process, because people cost more money to employ, leaving a lot of results to chance. But, the new breed of article marketers did not care. They liked the lower cost of human-free article placement.
The Four Primary Players in of a Successful Article Marketing Campaign
There are four primary players in the article marketing game. First of course is the writer. Then there is the distribution person or service. Third is the website owner or ezine publisher. And the final element is the person who will read the article and act upon what they read in the article.
Sometimes the writer is the same person as the distribution person. That is fine. The website owner or ezine publisher is actually the most important person in the link building process, because he or she wants to be sure that the fourth person, the reader, will be happy with what they are publishing.
Believe it or not, the website owners and the ezine publishers are frequently very selective about what articles they are willing to accept from a writer or distribution service. After all, if the readers are not happy with what is published on the website or ezine, then the reader will not feel a need to return to either one. Webmasters and ezine publishers, who are committed to success, will be even more selective in their article choices.
To see what website owners really think of many of the automated article distribution systems, read this: http://www.articledashboard.com/forum/viewtopic.php?id=4679
Any writer or article marketer, who does not pay attention or consider the needs or desires of webmasters or publishers in the process, is condemning their article marketing campaigns to failure.
Twisted Logic
When this new breed of article marketer began showing up at my article distribution service, I found myself in many strangely naïve conversations.
People would enquire about the value of our service. Naturally, I would mention publication in ezines as a method of driving thousands of targeted visitors to their website. Then I would mention the value of links on third-party websites, which results in the double benefit of targeted traffic from the third-party website and link popularity for search engine rankings.
Frequently, people would tell me that they literally "do not care about placement of their articles in ezines." They continued to explain that they were only interested in placement on third-party websites for the purpose of influencing their search engine rankings.
Wow! Every time I heard someone make this claim, I would think to myself about the shortsightedness of this approach. In my experience, link popularity and search rankings were a long-term benefit, and the publication of an article in an ezine is what was generating the most immediate and largest amount of click-through traffic to my websites.
But, who am I? I am just some guy who had been using this marketing technique for five years at that time, and I was a person who had been providing distribution services to other writers for several years. Why would anyone want to hear my thoughts on the subject?
The Proclaimed Death of Article Marketing as an Effective Promotion Tool
I have been hearing rumors for years of the death of article marketing as an effective marketing tool. Here are a couple samples:
* Dmitri Davydov proclaimed in June of 2007 that "'article marketing' has been long dead." (http://www.nichegeek.com/article_marketing_is_it_dead_yet) * In May of 2007, a few people in this forum thread declared that article marketing does not work, one of them just a little more vehemently than the rest (http://forums.digitalpoint.com/showthread.php?t=338394).
What I find somewhat funny and disconcerting at the same time is that most of the people making this proclamation actually admit that they have only tried article marketing with "one or two articles". In their wisdom, you should ignore people like me who have seen success with this promotion method, and you should follow their advice to abandon all hope for article marketing as a method for website promotion.
I have asked a few people to better define the status of article marketing:
1. Does article marketing not work? Or, 2. Did article marketing just not work for them?
The Nail in the Paid Links Coffin
On April 14th, 2007, the Google Guy (Matt Cutts) spoke out against paid links. A firestorm of complaints from webmasters followed Cutts' initial comments.
On June 12th, 2007, Cutts' original comments became official Google policy as shown here (http://googlewebmastercentral.blogspot.com/2007/06/more-ways-for-you-to-give-us-input.html)
Vanessa Fox of Google summed up the issue very succinctly, "Links that are purchased are great for advertising and traffic purposes, but aren't useful for PageRank calculations. Buying or selling links to manipulate results and deceive search engines violates (Google's) guidelines."
Confusion Ensues Over Paid Links
With Google officially stomping on "paid links," a lot of confusion entered into the marketplace. The confusion really hinges on one simple question: What kinds of links does Google consider to be paid links?
Many people have extrapolated Google's campaign against "paid links" to suggest that anytime someone pays money for a link building activity, then the links created during that activity will be construed by Google as a paid link, and that link will be discounted or ignored by Google. But, that simply is not the case.
Some have even chosen to lump "article marketing" as a "paid link", thereby decreeing that article marketing is truly and finally dead.
But all one has to do to gain a different point of view is to listen to Matt Cutts' comments from the SMX Search Marketing Expo in Seattle on June 4th, 2007 (http://videos.webpronews.com/2007/06/04/smx-seattle-matt-cutts-on-duplicate-and-paid-search/).
Within this video, Matt Cutts said, "If you are going to syndicate your content, try to make sure people know that you are the master or source of it. You can do it with a link from the article or link from the video, or stuff like that..."
The End of Article Marketing As We Knew It...
I don't know about you, but I read Cutts' last comment above as an indication that Google still considers article marketing to be a valid and Google-approved method of building links to one's website.
But, no matter how we cut it, we have in fact passed "the end of article marketing as we once knew it." Here is why:
* Some people will never have the chance to read this article and make their own mind about whether what I say has merit, or not. * Some people will simply trust the fear mongers who have been trying to declare article marketing dead for years. * And, some people will decide that they are not willing to take the chance that I might be right.
Going forward, we will see a fewer people using article marketing as a promotion technique.
The fact is that many people have quit using article marketing as a promotion technique. This outcome will only strengthen the hand of those of us who continue to utilize article marketing to promote our websites. After all, with fewer people using articles to market their websites, we will have fewer writers to compete with, in order to get attention for our own articles.
Sunday, August 5, 2007
Financial Freedom - The Main Positive Personalities Of Millionaires
Financial freedom is a topic that is of interest to every one. Almost all of us are in search of a foolproof plan for financial freedom. One can get many suggestions on this regard from others. One person may advise you to look for job change. You may get a suggestion from another about beginning a small at-home business. Some people try to enrich their knowledge about the stock market, real estate market and other investment opportunities in their endeavor for financial freedom.
Learn from millionaires
Let us analyze these millionaires that have been successful in their lives and accomplished their objective of financial freedom. They all have had some skills that have helped them in financial freedom. Here are some key elements of their personality, the strategies they adopted and the rules they followed in their lives.
Importance of working with people
The biggest advantage that these millionaires have in financial freedom is that they are masters in the art of team work. Having the right kind of people to work with you and knowing how to handle them is the most important tool that you have in your hands for financial freedom. You can observe that whenever and wherever someone has made a great fortune there¡¦s a group of talented people was involved.
Power of decisiveness
Power of decisiveness ability is also very important for financial freedom. You should have the ability of going through the pros and cons very quickly to reach at any decision. Once, you make it a habit you will always be at an advantage over others when it comes to cashing on any opportunity.
The characteristic of persistence
Every one who is successful in financial freedom is persistent with his work. You should also be ready to develop this quality. Instead of giving up at an early stage you should be prepared to work for extra hours. Make use of whatever you do for getting new ideas for financial freedom. Go through the financial related magazines that provide many useful suggestions in this regard. Write down these ideas and analyze them on a regular basis. You don't know when a particular idea clicks and you get an opportunity to reach your goal.
Resourcefulness of time
An important characteristic that is present in the personalities of all millionaires is good time management. Understand the importance of time. When you are putting all your efforts into making money then wasting time can be detrimental to your efforts. After all, all of us have been grown up listening to the popular phrase "Time is money" right from our childhood.
Learn from millionaires
Let us analyze these millionaires that have been successful in their lives and accomplished their objective of financial freedom. They all have had some skills that have helped them in financial freedom. Here are some key elements of their personality, the strategies they adopted and the rules they followed in their lives.
Importance of working with people
The biggest advantage that these millionaires have in financial freedom is that they are masters in the art of team work. Having the right kind of people to work with you and knowing how to handle them is the most important tool that you have in your hands for financial freedom. You can observe that whenever and wherever someone has made a great fortune there¡¦s a group of talented people was involved.
Power of decisiveness
Power of decisiveness ability is also very important for financial freedom. You should have the ability of going through the pros and cons very quickly to reach at any decision. Once, you make it a habit you will always be at an advantage over others when it comes to cashing on any opportunity.
The characteristic of persistence
Every one who is successful in financial freedom is persistent with his work. You should also be ready to develop this quality. Instead of giving up at an early stage you should be prepared to work for extra hours. Make use of whatever you do for getting new ideas for financial freedom. Go through the financial related magazines that provide many useful suggestions in this regard. Write down these ideas and analyze them on a regular basis. You don't know when a particular idea clicks and you get an opportunity to reach your goal.
Resourcefulness of time
An important characteristic that is present in the personalities of all millionaires is good time management. Understand the importance of time. When you are putting all your efforts into making money then wasting time can be detrimental to your efforts. After all, all of us have been grown up listening to the popular phrase "Time is money" right from our childhood.
Mortgage Leads, Selling Over the Telephone
When a loan officer or mortgage broker purchases a mortgage lead from a mortgage lead company, their very next step is to call the customer.
This is not as easy as it sounds, because we all know you never have a second chance to make a first impression. So you want to be prepared before you make the call.
By being prepared I mean have a few mortgage products you want to go over with the customer that you believe will meet their needs based off of what information you were given on the mortgage lead.
Also, mortgage lead companies will sell their mortgage leads up to as many as five times. So, you may end up running into some challenges if the customer is already working with another loan officer.
Or, perhaps they have even lost their nerve.
Here are a few scenarios you may run into and how you can lessen the impact should you be confronted with such a situation.
Purchasing or refinancing a home is a very big financial deal, so it is understandable if your customer gets cold feet.
Say something to this effect in the nicest voice you have . . .
Oh, I’m very sorry to hear that, after looking at the on-line form you filled out, I was able to fit you into one of our loan programs that I am sure you would have some interest in.
If a prospect says to you that they are working with another loan officer, they either really are, or again, they have lost their nerve.
Say something to this effect . . .
I’m really sorry to hear that. We offer some really nice mortgage products and I only wanted to take a few minutes of your time to go over some of our mortgage programs.
Although these approaches will get the customer talking the majority of the time, there are the times when it does not work.
Here are a few other things you can do . . .
Most mortgage lead providers supply you with an e-mail address, so e-mail them with some attractive mortgage products and tell them briefly about the benefits of working with you and your company.
Also, you can mail them out some flyers with some mortgage products that you believe would meet their mortgage needs along with some of your business cards.
Whatever happens on your sales call, do not give up after one objection. If you have not been having success with your leads, than you need to change your approach.
Also, you may end up having to leave a voice mail which is not at all uncommon these days.
Should you have to leave a message, be sure to be direct and to the point. Let the customer know who you are and why you are calling, and give them a reason to call you back.
Tell them you have a product that you believe they will be interested in and it is very important that they call them back.
To sum it all up, no single mortgage lead is a slam dunk, no matter how good it looks on paper. Nine times out of ten you will be faced with some sort of challenge. So do your homework and be prepared to face your challenge’s head on.
This is not as easy as it sounds, because we all know you never have a second chance to make a first impression. So you want to be prepared before you make the call.
By being prepared I mean have a few mortgage products you want to go over with the customer that you believe will meet their needs based off of what information you were given on the mortgage lead.
Also, mortgage lead companies will sell their mortgage leads up to as many as five times. So, you may end up running into some challenges if the customer is already working with another loan officer.
Or, perhaps they have even lost their nerve.
Here are a few scenarios you may run into and how you can lessen the impact should you be confronted with such a situation.
Purchasing or refinancing a home is a very big financial deal, so it is understandable if your customer gets cold feet.
Say something to this effect in the nicest voice you have . . .
Oh, I’m very sorry to hear that, after looking at the on-line form you filled out, I was able to fit you into one of our loan programs that I am sure you would have some interest in.
If a prospect says to you that they are working with another loan officer, they either really are, or again, they have lost their nerve.
Say something to this effect . . .
I’m really sorry to hear that. We offer some really nice mortgage products and I only wanted to take a few minutes of your time to go over some of our mortgage programs.
Although these approaches will get the customer talking the majority of the time, there are the times when it does not work.
Here are a few other things you can do . . .
Most mortgage lead providers supply you with an e-mail address, so e-mail them with some attractive mortgage products and tell them briefly about the benefits of working with you and your company.
Also, you can mail them out some flyers with some mortgage products that you believe would meet their mortgage needs along with some of your business cards.
Whatever happens on your sales call, do not give up after one objection. If you have not been having success with your leads, than you need to change your approach.
Also, you may end up having to leave a voice mail which is not at all uncommon these days.
Should you have to leave a message, be sure to be direct and to the point. Let the customer know who you are and why you are calling, and give them a reason to call you back.
Tell them you have a product that you believe they will be interested in and it is very important that they call them back.
To sum it all up, no single mortgage lead is a slam dunk, no matter how good it looks on paper. Nine times out of ten you will be faced with some sort of challenge. So do your homework and be prepared to face your challenge’s head on.
Money Management And Payday Loans
There are a number of ways that people can use to manage money to stay out of debt and even establish savings over time.
Establish a Budget
The first, and maybe the most important step, is to set a budget for yourself and stick by it. Take a look at your household income and outgo. Set the budget up to accommodate your payday schedule. In other words, if you get paid once a month, then you have to budget accordingly so that you won’t run out of money before the end of the month. If you get paid every two weeks, or every week, figure out which of your bills have to be paid on each payday. It is absolutely essential to set some money aside for emergencies. Even if it is only $20 per payday, having some cushion will keep you from having to borrow money when something unforeseen occurs. There are all kinds of budget sheets available to help you figure things out and many of them are free on the Internet. However, it is not hard to make your own. Just make a list of your income and when it arrives, as well as a list of what has to be paid when. Check each item off and date it when it is paid. Don’t forget to budget adequate amounts for items like food, gas, entertainment, etc. If you have those items in your budget, it’s also a good way to track how much you are actually spending on them each month.
Get Organized
A good way to begin the budgeting process is to sort out all of your legal and financial papers and file them so you can find what you need when you need it. For example put bills that are due on the 10th of the month in one folder, and bills that are due on the 25th in another folder. Once you have paid a particular bill, shred it and dispose of it, in order to save confusion. Any other financial information, like savings accounts, mutual funds, etc. should also be stored in appropriately labeled folders. At the first of the year, when your tax documents start coming in, put them all in one folder with the tax forms. When April 15 rolls around, you won’t have to dig through piles of mail on your desk to come up with all of the appropriate documents and forms. Items like insurance policies should also be labeled and file so that you can readily find them if and when you need them.
Find Ways to Save Money
Do some brainstorming about your expenses and how you could possibly cut back on them. It is wise to write them down on paper because it is less easy to dismiss them that way. For example, can you cut down on the amount of gas you use by taking public transportation? If you eat out often, consider making more meals at home. Examine your buying habits. Do you go shopping when you are depressed? Do you go grocery shopping when you are hungry? Do you purchase items advertised on the shopping channel without every leaving your easy chair? These are all practices you can change. Find healthier activities for when you are feeling down – go for a long walk instead of going shopping. Make a grocery list and carefully plan what groceries you need for the coming week, then go to the store and buy them. Coupons can be advantageous if you buy name brand items, but store brands are often cheaper in the long run. Watch the weekly sales flyers in the local newspaper and buy items like meat when they are on sale. It’s handy to have something in the freezer to fix, and less costly in the long run than making a quick trip to the store after work and picking up only what you need for that night’s meal.
Find Ways to Make More Money
Get an extra part time job, or work overtime at your regular job, if possible. Clear out your attic or your garage and have a yard sale. You may be happily surprised at the amount of money you can bring in. These days, many people make money selling items through online auction sites like ebay, and don’t have to sort and tag and have people running all over your yard for a day. If there is a local farmer’s market, consider something you can sell there. If you have extra produce from your garden, or are a good baker, you will find that people are readily willing to buy things that you can grow or make. If you make extra money, don’t increase your expenses. Either use it to pay off bills, or put it away for savings.
Choose Credit Carefully
If you have to have a credit card, shop around for the best deal. Some credit cards have yearly fees that have to be paid whether you ever use the card or not. Interest rates vary widely. Make sure you know what the interest rate is and shop around for the lowest. If you charge something, pay it off before the end of the month, then it won’t cost you any interest on the card. Don’t use more than one credit card. It’s too easy to get into the cycle of living on the credit cards and never really paying more than the interest on them. This is a practice that will get you deeper into debt in the long run.
Payday Loans
If you have an emergency and need to get a payday loan, make sure you investigate and find the one that is the best deal for you. The amount of interest charged varies widely from company to company and so does the repayment period. Find the loan that gives you the most flexibility for the least fees. Try to never roll your payday loan over, but pay it off in full by the due date.
Establish a Budget
The first, and maybe the most important step, is to set a budget for yourself and stick by it. Take a look at your household income and outgo. Set the budget up to accommodate your payday schedule. In other words, if you get paid once a month, then you have to budget accordingly so that you won’t run out of money before the end of the month. If you get paid every two weeks, or every week, figure out which of your bills have to be paid on each payday. It is absolutely essential to set some money aside for emergencies. Even if it is only $20 per payday, having some cushion will keep you from having to borrow money when something unforeseen occurs. There are all kinds of budget sheets available to help you figure things out and many of them are free on the Internet. However, it is not hard to make your own. Just make a list of your income and when it arrives, as well as a list of what has to be paid when. Check each item off and date it when it is paid. Don’t forget to budget adequate amounts for items like food, gas, entertainment, etc. If you have those items in your budget, it’s also a good way to track how much you are actually spending on them each month.
Get Organized
A good way to begin the budgeting process is to sort out all of your legal and financial papers and file them so you can find what you need when you need it. For example put bills that are due on the 10th of the month in one folder, and bills that are due on the 25th in another folder. Once you have paid a particular bill, shred it and dispose of it, in order to save confusion. Any other financial information, like savings accounts, mutual funds, etc. should also be stored in appropriately labeled folders. At the first of the year, when your tax documents start coming in, put them all in one folder with the tax forms. When April 15 rolls around, you won’t have to dig through piles of mail on your desk to come up with all of the appropriate documents and forms. Items like insurance policies should also be labeled and file so that you can readily find them if and when you need them.
Find Ways to Save Money
Do some brainstorming about your expenses and how you could possibly cut back on them. It is wise to write them down on paper because it is less easy to dismiss them that way. For example, can you cut down on the amount of gas you use by taking public transportation? If you eat out often, consider making more meals at home. Examine your buying habits. Do you go shopping when you are depressed? Do you go grocery shopping when you are hungry? Do you purchase items advertised on the shopping channel without every leaving your easy chair? These are all practices you can change. Find healthier activities for when you are feeling down – go for a long walk instead of going shopping. Make a grocery list and carefully plan what groceries you need for the coming week, then go to the store and buy them. Coupons can be advantageous if you buy name brand items, but store brands are often cheaper in the long run. Watch the weekly sales flyers in the local newspaper and buy items like meat when they are on sale. It’s handy to have something in the freezer to fix, and less costly in the long run than making a quick trip to the store after work and picking up only what you need for that night’s meal.
Find Ways to Make More Money
Get an extra part time job, or work overtime at your regular job, if possible. Clear out your attic or your garage and have a yard sale. You may be happily surprised at the amount of money you can bring in. These days, many people make money selling items through online auction sites like ebay, and don’t have to sort and tag and have people running all over your yard for a day. If there is a local farmer’s market, consider something you can sell there. If you have extra produce from your garden, or are a good baker, you will find that people are readily willing to buy things that you can grow or make. If you make extra money, don’t increase your expenses. Either use it to pay off bills, or put it away for savings.
Choose Credit Carefully
If you have to have a credit card, shop around for the best deal. Some credit cards have yearly fees that have to be paid whether you ever use the card or not. Interest rates vary widely. Make sure you know what the interest rate is and shop around for the lowest. If you charge something, pay it off before the end of the month, then it won’t cost you any interest on the card. Don’t use more than one credit card. It’s too easy to get into the cycle of living on the credit cards and never really paying more than the interest on them. This is a practice that will get you deeper into debt in the long run.
Payday Loans
If you have an emergency and need to get a payday loan, make sure you investigate and find the one that is the best deal for you. The amount of interest charged varies widely from company to company and so does the repayment period. Find the loan that gives you the most flexibility for the least fees. Try to never roll your payday loan over, but pay it off in full by the due date.
Mortgage Payments Vs Rent Payments
There is an age-old debate on whether or not it makes more sense for people to rent or buy. Though it is hard to really understand why there is a debate at all. You will definitely hear arguments from both camps that appear logical but if you do a little digging you may find that some of the arguments are thin at best.
The simple fact of the matter is you are always better off making a mortgage payment over a rent payment if you can afford to do so. It is not uncommon for mortgage payments to actually be lower than many rent payments are. So the key is to understand an important, fundamental difference between making a rent payment and making a mortgage payment.
Rent payments are made on a monthly basis for the most part. That money gives you the right to live in the house or apartment for the specified period of time, typically one month. You receive no other tangible benefits from that rent payment. It does not improve your credit score, it does not produce equity, it simply gives you the ability to live in the residence.
A mortgage payment, first and foremost, also gives you the ability to remain in the residence, however, it does much more than just that. First, the mortgage payment helps you build equity in your home. Equity is the difference between what you owe on the property and what the property is worth. That equity can be used for many things including debt consolidation, home improvements, extra funds, etc. Equity becomes a powerful tool in your overall financial plan.
Mortgage payments also include interest payments which can be tax deductible, helping your overall bottom line at the end of the year. Rent is not tax deductible in most cases. Your mortgage payments will also help improve your credit score if you continue to make payments on time. Mortgage payments are tracked if your lender reports the loan, which most lenders typically do. Your overall financial outlook can improve dramatically with an increased credit score resulting from on-time mortgage payments.
Some will argue that you are tied down to a home if you buy it, while renting gives you more flexibility. Though it is important to remember that if you rent a residence you are typically obligated for a specific period of time, typically a year. If you own a home, however, you are able to sell and relocate any time you wish, or you can rent the residence and relocate any time you wish. This is an important and fundamental difference between the two. It is true, however, that how quickly you are able to sell your home will depend on the location, its value, its condition and the market at the time of the sale. You do have the flexibility, however, to sell anytime you find a willing and able buyer.
One time where renting may seem like a more logical choice than buying is if you are going to live in a particular area for only a short period of time. In order to determine if it makes sense to rent or buy in this type of situation you really need to analyze your overall financial plans. You need to get a full understanding of any and all costs associated with you buying the home, the likelihood you would be able to sell it or rent it when you were relocating from the area, etc. For some, even in a short term situation the better financial decision may be buying, especially if they are able to rent it and build equity on their tenant. This may, however, impede them buying a second home, though if they have adequate credit and income they may not have any problem buying the second residence as well.
It is difficult to come up with a scenario that makes renting the clear cut right decision. It seems in most situations buying, if an option for you is the better decision financially. Though consulting with a mortgage professional is the only real way to help determine these things as they can give you a clear understanding of what is and what is not possible for you. Your financial advisor can also assist you in making this decision.
Owning your own home has many non-financial benefits as well, however, only you can evaluate those. You know what is and what is not important for you. You know what obligations you are comfortable having and which you are not. The key is to evaluate your personal situation rather than listen to those who are convinced that one or the other is right for you.
The simple fact of the matter is you are always better off making a mortgage payment over a rent payment if you can afford to do so. It is not uncommon for mortgage payments to actually be lower than many rent payments are. So the key is to understand an important, fundamental difference between making a rent payment and making a mortgage payment.
Rent payments are made on a monthly basis for the most part. That money gives you the right to live in the house or apartment for the specified period of time, typically one month. You receive no other tangible benefits from that rent payment. It does not improve your credit score, it does not produce equity, it simply gives you the ability to live in the residence.
A mortgage payment, first and foremost, also gives you the ability to remain in the residence, however, it does much more than just that. First, the mortgage payment helps you build equity in your home. Equity is the difference between what you owe on the property and what the property is worth. That equity can be used for many things including debt consolidation, home improvements, extra funds, etc. Equity becomes a powerful tool in your overall financial plan.
Mortgage payments also include interest payments which can be tax deductible, helping your overall bottom line at the end of the year. Rent is not tax deductible in most cases. Your mortgage payments will also help improve your credit score if you continue to make payments on time. Mortgage payments are tracked if your lender reports the loan, which most lenders typically do. Your overall financial outlook can improve dramatically with an increased credit score resulting from on-time mortgage payments.
Some will argue that you are tied down to a home if you buy it, while renting gives you more flexibility. Though it is important to remember that if you rent a residence you are typically obligated for a specific period of time, typically a year. If you own a home, however, you are able to sell and relocate any time you wish, or you can rent the residence and relocate any time you wish. This is an important and fundamental difference between the two. It is true, however, that how quickly you are able to sell your home will depend on the location, its value, its condition and the market at the time of the sale. You do have the flexibility, however, to sell anytime you find a willing and able buyer.
One time where renting may seem like a more logical choice than buying is if you are going to live in a particular area for only a short period of time. In order to determine if it makes sense to rent or buy in this type of situation you really need to analyze your overall financial plans. You need to get a full understanding of any and all costs associated with you buying the home, the likelihood you would be able to sell it or rent it when you were relocating from the area, etc. For some, even in a short term situation the better financial decision may be buying, especially if they are able to rent it and build equity on their tenant. This may, however, impede them buying a second home, though if they have adequate credit and income they may not have any problem buying the second residence as well.
It is difficult to come up with a scenario that makes renting the clear cut right decision. It seems in most situations buying, if an option for you is the better decision financially. Though consulting with a mortgage professional is the only real way to help determine these things as they can give you a clear understanding of what is and what is not possible for you. Your financial advisor can also assist you in making this decision.
Owning your own home has many non-financial benefits as well, however, only you can evaluate those. You know what is and what is not important for you. You know what obligations you are comfortable having and which you are not. The key is to evaluate your personal situation rather than listen to those who are convinced that one or the other is right for you.
Home Loans - Dispelling The Myths
You have undoubtedly heard a plethora of advice when you mentioned you were considering buying a home. Everyone probably had an opinion, they always do. Some very well intended people probably gave you the worst advice you could possibly have received but you would have know way of knowing that.
Let us dispel some of the most common myths about home buying and loan selection. First and foremost the myth that the only type of mortgage to ever consider is a 30 year fixed rate mortgage. Perhaps when your parents or grandparents first considered buying a home this was true. The simple fact of the matter is that there are many loan packages available to buyers with all different financial circumstances and needs. For many a fixed-rate mortgage will be the right way to go. For others adjustable rate mortgages will make the most sense based on their financial situation. Your loan officer will be able to explain the differences between them and discuss which will make the best sense for you and your unique circumstances.
Another popular myth is that you should have a home in mind before you contact a mortgage professional. This is probably, however, the worst time to contact a mortgage professional. It is always best to start your home search only after you have spoken to a mortgage professional who can put a scope on your search for you before you fall in love with a home that is well beyond your financial means. A mortgage professional can save you hours of heartache when you try to compare a house within your means to those houses a realtor showed you but you simply cannot afford.
The only place you want to apply for your mortgage is with your personal bank. Or, at least that is what you will be told. Again, that may have been true about forty years ago, it is not necessarily true any longer. The mortgage market is competitive and there are many lenders that specialize in precisely this industry and are not retail banks. You may not want to close the door to the prospect of using one of these lenders because they very often offer the best loan packages.
Online mortgage lenders are risky. That is what traditionalists will say. Though you should be careful in selecting an online lender, there are many safe and reliable retailers. You will want to make sure that they have an encrypted, safe site that you can comfortable input your information. Very often these lenders are actually a network of lenders that combined can offer you the most possible loan packages to choose from. It is important to know that the site is encrypted and safe before you input your personal information. Most sites will have information on the site regarding the measures they take to protect your information.
If your credit is not great you will never get approved for a mortgage is what you have probably heard time and time again. There is an entire, tremendous industry that has been created to provide mortgages to people with poor credit or no credit history at all. Rather than have your friends and family deny the loan that you had not even applied for yet, speak to a mortgage professional who has the means to open the door to this entire world of lenders waiting for people with little, no or bad credit.
If you do not have a big enough down-payment your mortgage payments will be huge and you will have to pay PMI. Again, this is simply not true. There are countless mortgage packages available to people with little or no down-payment, including many packages that combine loans in order to prevent your having to pay PMI (private mortgage insurance).
The home loan industry is a vast industry that grows annually. The key to your success in maneuvering in the industry is to speak to mortgage professionals rather than well-intended but ill-informed family and friends. Though your family and friends may offer good advice, very often they just proffer myths that have long ago been busted. We have addressed but a small number of these myths in this article, there are countless. The best thing to do is get the information directly from the source- a mortgage professional rather than the people around you who may have misinformed you when they heard you are thinking of buying a home.
Let us dispel some of the most common myths about home buying and loan selection. First and foremost the myth that the only type of mortgage to ever consider is a 30 year fixed rate mortgage. Perhaps when your parents or grandparents first considered buying a home this was true. The simple fact of the matter is that there are many loan packages available to buyers with all different financial circumstances and needs. For many a fixed-rate mortgage will be the right way to go. For others adjustable rate mortgages will make the most sense based on their financial situation. Your loan officer will be able to explain the differences between them and discuss which will make the best sense for you and your unique circumstances.
Another popular myth is that you should have a home in mind before you contact a mortgage professional. This is probably, however, the worst time to contact a mortgage professional. It is always best to start your home search only after you have spoken to a mortgage professional who can put a scope on your search for you before you fall in love with a home that is well beyond your financial means. A mortgage professional can save you hours of heartache when you try to compare a house within your means to those houses a realtor showed you but you simply cannot afford.
The only place you want to apply for your mortgage is with your personal bank. Or, at least that is what you will be told. Again, that may have been true about forty years ago, it is not necessarily true any longer. The mortgage market is competitive and there are many lenders that specialize in precisely this industry and are not retail banks. You may not want to close the door to the prospect of using one of these lenders because they very often offer the best loan packages.
Online mortgage lenders are risky. That is what traditionalists will say. Though you should be careful in selecting an online lender, there are many safe and reliable retailers. You will want to make sure that they have an encrypted, safe site that you can comfortable input your information. Very often these lenders are actually a network of lenders that combined can offer you the most possible loan packages to choose from. It is important to know that the site is encrypted and safe before you input your personal information. Most sites will have information on the site regarding the measures they take to protect your information.
If your credit is not great you will never get approved for a mortgage is what you have probably heard time and time again. There is an entire, tremendous industry that has been created to provide mortgages to people with poor credit or no credit history at all. Rather than have your friends and family deny the loan that you had not even applied for yet, speak to a mortgage professional who has the means to open the door to this entire world of lenders waiting for people with little, no or bad credit.
If you do not have a big enough down-payment your mortgage payments will be huge and you will have to pay PMI. Again, this is simply not true. There are countless mortgage packages available to people with little or no down-payment, including many packages that combine loans in order to prevent your having to pay PMI (private mortgage insurance).
The home loan industry is a vast industry that grows annually. The key to your success in maneuvering in the industry is to speak to mortgage professionals rather than well-intended but ill-informed family and friends. Though your family and friends may offer good advice, very often they just proffer myths that have long ago been busted. We have addressed but a small number of these myths in this article, there are countless. The best thing to do is get the information directly from the source- a mortgage professional rather than the people around you who may have misinformed you when they heard you are thinking of buying a home.
The Deadliest Mistake ANY Business Can Make
Forget about the internet for a second and think about your own neighborhood. If you spent a little time researching what happened to this business or the next, that somehow, suddenly, disappeared; you would find that they may have made a deadly mistake.
It's one of the deadliest mistakes that any business can make whether they're offline or online.
You see, the internet is a vast expanse; you have competition, no doubt about that. However, the key to success on the internet and growing a business is knowing exactly how to appeal to your customers and potential customers.
You have to prove yourself and your business beyond that of the competition placed throughout the web.
Many people believe that marketing and advertising are the only methods of doing this. It is true that both marketing and advertising are necessary for the success of any business, whether on the internet or the old brick and mortar establishment.
However, today's consumers want more. They have a virtually endless supply of businesses to choose from but, they need help in choosing. They want to find a business that promotes the right image or rather a company whose product line communicates the right imagery in their minds eye. Customers and potential customers need to be able to identify with a business.
They want to shop with a company that reflects their ideals, feelings, and desires.
This is the key to success on the internet, or better yet, this is the key to success in any business on or offline. You have to have a story and you have to have an image that represents that story. Your story and image needs to be congruent. Advertising and marketing should simply compound on that story and image.
In simpler words storytelling.
Storytelling has long been a driving force for successful businesses everywhere. What's great about these stories is that they work best when they come directly from the mouths of your satisfied customers. Your "customer evangelists"' so to speak. You see, customers have no problems in writing you to tell you how they feel, whether good or bad.
However, you need to remember if they are writing you, they are also telling other people at the same time. Statistically speaking, if a customer is happy with your business, products, and services, they will tell at least seven people. However, if a customer is unhappy, they will tell at least fourteen, which one appeals to you more? Likely you'll want the happy customers telling seven.
Remember, the internet now allows that seven to grow exponentially.
What's great is that happy customers are more than willing to help your business. They will write about their experiences and most often give you permission to use them on your website (testimonials). These stories from real people will give your business the boost it needs.
People love stories, especially good ones, so why not talk to your happy customers and ask them to tell you about their experiences, share them with other potential customers. Many businesses today are using these to create new ad campaigns as well, focusing on targeted customers or situations.
When seeking stories from your satisfied and happy customers, you want to get specifics, their thoughts, their feelings, and their situations. For example, maybe a specific product that you offered helped them out of a tight spot. Maybe your sales staff or support staff went the extra mile to ensure that this customer had everything they need when pressed for time.
Stories like these from real people will be the boost you need for success in your business. Potential customers love reading real life stories. What is great for your business is if these stories have helped another customer solve a problem.
When customers are shopping on the internet, they have a problem that needs solved. Rather they need a last minute gift, a gift for that hard to buy for person, or their own personal needs, they look to your business to solve that problem.
Whether you're a direct response copywriter or marketer, stories have ability to get past the conscious minds of your potential customers and get directly into their subconscious mind.
Believe it or not, there are Fortune 500 companies right now, who are spending tens of millions of dollars in research to learn exactly how to better tap into our subconscious minds in order to communicate their marketing messages and get you to buy from them faster and with more satisfaction.
If a prospect can identify with other happy customers with the same or similar problem, your business will thrive. If you are not telling stories and/or giving your customers a story worthy experience at your place of business or on your website, you are sabotaging your business' potential for success.
Remember this, Stories sell, people sell, and the success of your business depends on your happy customers telling others.
It's one of the deadliest mistakes that any business can make whether they're offline or online.
You see, the internet is a vast expanse; you have competition, no doubt about that. However, the key to success on the internet and growing a business is knowing exactly how to appeal to your customers and potential customers.
You have to prove yourself and your business beyond that of the competition placed throughout the web.
Many people believe that marketing and advertising are the only methods of doing this. It is true that both marketing and advertising are necessary for the success of any business, whether on the internet or the old brick and mortar establishment.
However, today's consumers want more. They have a virtually endless supply of businesses to choose from but, they need help in choosing. They want to find a business that promotes the right image or rather a company whose product line communicates the right imagery in their minds eye. Customers and potential customers need to be able to identify with a business.
They want to shop with a company that reflects their ideals, feelings, and desires.
This is the key to success on the internet, or better yet, this is the key to success in any business on or offline. You have to have a story and you have to have an image that represents that story. Your story and image needs to be congruent. Advertising and marketing should simply compound on that story and image.
In simpler words storytelling.
Storytelling has long been a driving force for successful businesses everywhere. What's great about these stories is that they work best when they come directly from the mouths of your satisfied customers. Your "customer evangelists"' so to speak. You see, customers have no problems in writing you to tell you how they feel, whether good or bad.
However, you need to remember if they are writing you, they are also telling other people at the same time. Statistically speaking, if a customer is happy with your business, products, and services, they will tell at least seven people. However, if a customer is unhappy, they will tell at least fourteen, which one appeals to you more? Likely you'll want the happy customers telling seven.
Remember, the internet now allows that seven to grow exponentially.
What's great is that happy customers are more than willing to help your business. They will write about their experiences and most often give you permission to use them on your website (testimonials). These stories from real people will give your business the boost it needs.
People love stories, especially good ones, so why not talk to your happy customers and ask them to tell you about their experiences, share them with other potential customers. Many businesses today are using these to create new ad campaigns as well, focusing on targeted customers or situations.
When seeking stories from your satisfied and happy customers, you want to get specifics, their thoughts, their feelings, and their situations. For example, maybe a specific product that you offered helped them out of a tight spot. Maybe your sales staff or support staff went the extra mile to ensure that this customer had everything they need when pressed for time.
Stories like these from real people will be the boost you need for success in your business. Potential customers love reading real life stories. What is great for your business is if these stories have helped another customer solve a problem.
When customers are shopping on the internet, they have a problem that needs solved. Rather they need a last minute gift, a gift for that hard to buy for person, or their own personal needs, they look to your business to solve that problem.
Whether you're a direct response copywriter or marketer, stories have ability to get past the conscious minds of your potential customers and get directly into their subconscious mind.
Believe it or not, there are Fortune 500 companies right now, who are spending tens of millions of dollars in research to learn exactly how to better tap into our subconscious minds in order to communicate their marketing messages and get you to buy from them faster and with more satisfaction.
If a prospect can identify with other happy customers with the same or similar problem, your business will thrive. If you are not telling stories and/or giving your customers a story worthy experience at your place of business or on your website, you are sabotaging your business' potential for success.
Remember this, Stories sell, people sell, and the success of your business depends on your happy customers telling others.
Developing a Growing Business
Many people crave to develop a growing business. Unfortunately, few people can actually develop one successfully. You see, many people, just like you, start off but get distracted by not being able to have a vehicle for success.
I'd suggest that you look at some of the leverage factors for the internet.
Leverage Factor #1 - A successful business model.
If you have not built your own business model, you should adopt one from someone else. For instance, marketing using network marketing, affiliate marketing and so on are useful, but you need to have a program that allows you to derive multiple streams of income all at one go.
If you don't already have a business online, or are just interested in looking for someone to provide you one, you might want to explore this one at http://www.MySuccessCollection.com.
Leverage Factor #2 - Learning and expertise.
To build a bigger base, you definitely need to increase your knowledge. With the right kind of knowledge, you will find that you become more credible and people get attracted to you directly. If you had a database of thousands of hours of a learning library, I think you'd skew the chances to your favor, don't you think? I've discovered that it's the learner with the right attitude who actually is able to master the skills necessary to grow the business.
Leverage Factor #3 - Teams and collective effort.
Let's face it - nobody really succeeds on their own. There's really no such thing as a self-made millionaire - only a team-made one. IF you want to leverage, you have to find not just the team, but the way to build the team up effectively. I suppose you might want to be a leader as well, and that takes #2 - your learning. Over time, an effective and growing business could be in your hands.
To find out more about this opportunity and gain access to mentoring to excellence, please visit http://www.MySuccessCollection.com/stuartmastermind/
I'd suggest that you look at some of the leverage factors for the internet.
Leverage Factor #1 - A successful business model.
If you have not built your own business model, you should adopt one from someone else. For instance, marketing using network marketing, affiliate marketing and so on are useful, but you need to have a program that allows you to derive multiple streams of income all at one go.
If you don't already have a business online, or are just interested in looking for someone to provide you one, you might want to explore this one at http://www.MySuccessCollection.com.
Leverage Factor #2 - Learning and expertise.
To build a bigger base, you definitely need to increase your knowledge. With the right kind of knowledge, you will find that you become more credible and people get attracted to you directly. If you had a database of thousands of hours of a learning library, I think you'd skew the chances to your favor, don't you think? I've discovered that it's the learner with the right attitude who actually is able to master the skills necessary to grow the business.
Leverage Factor #3 - Teams and collective effort.
Let's face it - nobody really succeeds on their own. There's really no such thing as a self-made millionaire - only a team-made one. IF you want to leverage, you have to find not just the team, but the way to build the team up effectively. I suppose you might want to be a leader as well, and that takes #2 - your learning. Over time, an effective and growing business could be in your hands.
To find out more about this opportunity and gain access to mentoring to excellence, please visit http://www.MySuccessCollection.com/stuartmastermind/
A Mentally Stimulating Job with Substantial Salary – Clinical Data Manager
The workplace changes as the world changes as well. Before there were only a few jobs people can choose from – that of a teacher, farmer, doctor, nurse, lawyer, policeman, soldier, firemen, and other plain old jobs. But now, different trades and processions are emerging each year, making the employment scene quite rich and thriving. Apart from being interesting a lot of these jobs are lucrative as well. One great example of such new interesting and profitable positions is that of the clinical data manager. Looking at its responsibilities it seems to be rather a mentally stimulating job, and the buzz is that the salary range is attractive as well.
An attractive salary is not only what lures people into applying for the clinical data manager position, the challenge of the job seems to be quite as fulfilling. The job entails a mixture of the medical field and information technology The manager is responsible for tracking and consigning the database system of a medical or clinical institution. The job may be within a health care system or a research facility. The clinical data manager supervises the work of data clinical data entry associates to ensure the accuracy and consistency of the data after it has been entered in to the system. This is important to meet the quality standards needed to report to medical regulatory bodies.
The job of the clinical data manager is an essential part of the whole clinical setup as it deals with management of the information that would help the better understanding of patients or the clearer analysis of clinical studies. An efficient data base of the clinical data is necessary not only to keep records in the hospital or research facility, it also plays an important role in the proper administration of health care to patients. Many hospitals and research facilities consider their clinical database to be among their most important assets that really have to be kept in proper order. And it is the responsibility of the clinical data manager to maintain such.
The clinical data manager positions requires the combination of knowledge and skill in both the medical and technological fields. The manager should have great facility in working with computer systems since he will be handling a wide scope of computer applications used for the collection, management, and retrieval of data. In conjunction with this, the clinical data manager should be also adept with medical knowledge, familiar with pharmacology, well versed in clinical procedures, and comfortable in medical jargon. The job basically entails merging the medical and the technological and so it is expected that the manager be good in both fields.
With such an important responsibility and a matching salary to boot, it is just expected that the clinical data manager position would require a considerable set of qualifications. Usually, a minimum of a bachelor’s degree is required with a concentration on a scientific or related field. An extensive experience in clinical data entry is needed of usually around five years in a medical or research institution. Certification in medical database systems is very much an asset for applicants together with a working knowledge in medical terms, codes, conditions, and drugs. Since it is basically a managerial job, work independence and leadership skills are expected together with good communication skills.
Now perhaps the most exciting part of this job, the salary. The clinical data manager may indeed be a financially substantial position. Entry-level managers may earn as much as $80,000 to $100,000 a year. Those in higher positions may get as much as $250,000.
With such an exciting job with a substantial salary, the position of the clinical data manager may indeed be attractive. So for those who have the skill and the drive for this occupation, trying out for the stint may be well worth it.
An attractive salary is not only what lures people into applying for the clinical data manager position, the challenge of the job seems to be quite as fulfilling. The job entails a mixture of the medical field and information technology The manager is responsible for tracking and consigning the database system of a medical or clinical institution. The job may be within a health care system or a research facility. The clinical data manager supervises the work of data clinical data entry associates to ensure the accuracy and consistency of the data after it has been entered in to the system. This is important to meet the quality standards needed to report to medical regulatory bodies.
The job of the clinical data manager is an essential part of the whole clinical setup as it deals with management of the information that would help the better understanding of patients or the clearer analysis of clinical studies. An efficient data base of the clinical data is necessary not only to keep records in the hospital or research facility, it also plays an important role in the proper administration of health care to patients. Many hospitals and research facilities consider their clinical database to be among their most important assets that really have to be kept in proper order. And it is the responsibility of the clinical data manager to maintain such.
The clinical data manager positions requires the combination of knowledge and skill in both the medical and technological fields. The manager should have great facility in working with computer systems since he will be handling a wide scope of computer applications used for the collection, management, and retrieval of data. In conjunction with this, the clinical data manager should be also adept with medical knowledge, familiar with pharmacology, well versed in clinical procedures, and comfortable in medical jargon. The job basically entails merging the medical and the technological and so it is expected that the manager be good in both fields.
With such an important responsibility and a matching salary to boot, it is just expected that the clinical data manager position would require a considerable set of qualifications. Usually, a minimum of a bachelor’s degree is required with a concentration on a scientific or related field. An extensive experience in clinical data entry is needed of usually around five years in a medical or research institution. Certification in medical database systems is very much an asset for applicants together with a working knowledge in medical terms, codes, conditions, and drugs. Since it is basically a managerial job, work independence and leadership skills are expected together with good communication skills.
Now perhaps the most exciting part of this job, the salary. The clinical data manager may indeed be a financially substantial position. Entry-level managers may earn as much as $80,000 to $100,000 a year. Those in higher positions may get as much as $250,000.
With such an exciting job with a substantial salary, the position of the clinical data manager may indeed be attractive. So for those who have the skill and the drive for this occupation, trying out for the stint may be well worth it.
Defeat the Fear of Failure of Your Small Business
So you have decided to take the plunge and venture into the world of entrepreneurship. You are enthusiastic, eager, uncertain and terrified all at the same time. Believe me, most people in your shoes feel the same way. The start-up phase of any business is often the most exhilarating, but for many, it is also the most trying. Fear of failure often stops would-be entrepreneurs before they even have a chance to bring their ideas to life. The following are some ideas that may help you to stay focused on your goals and will hopefully give you the extra confidence to pursue your venture.
1. Research the need for your product or service. If there are already 8 dry cleaning services in your town of 1,200 people, chances are your dry cleaning business will not succeed. If you are still determined to open your business when the demand isn't great, consider adding some creative or innovative products or services that the competition doesn't offer. Look into your local small business service centre for information on demand in your industry. Knowing that a service is in demand will give you the extra confidence that your business has potential.
2. Once you have decided that your business venture is viable, surround yourself with positive people. An encouraging word from a friend or family member can go a long way. Confidence and positivity go hand in hand. Conversely, negative thoughts bring self-doubt, and self-doubt almost certainly leads to failure. If someone in your life is negative concerning your business, try to discuss it with them as little as possible. This doesn't mean don't talk to them, just stay away from the subject of your business. Only talk about your business with positive people. This will help to leave you feeling excited at the end of your conversation instead of defeated.
3. Stay involved in the lives of your family and friends. A start-up business can be all encompassing. It takes over your thoughts sometimes night and day. Don't forget to put things into perspective. The most important things in life are your friends and family. Don't neglect them. You need to have a healthy balance between work and family and friends in order to be happy in your life. Remember that happiness is your ultimate goal. If you are not happy, then what is it all for?
4. Read as many books as you can find. Read books on your industry, opening a business in this industry and business in general. Many online bookstores allow you to read reviews of books before buying them. These reviews will most likely be from people like yourself, looking for the same kind of information as you are. They will let you know if the book is worth purchasing. Learning as much as you possibly can about your industry and opening a business, is a sure way to gain confidence.
5. Get involved. Join trade associations if they exist for your industry. The advice and insight you will receive from the individuals already working in your field can be even more valuable than the information you can read in a book.
6. Don't listen to the inner negative voice. Self doubt and fear of failure are what stops many would-be entrepreneurs from realizing their dreams. Whenever you realize that your inner dialogue is turning negative, change it immediately. You control your thoughts. Positive thinking is a powerful tool that will contribute greatly to your success.
7. Love what you do. If you are planning on opening a home cleaning service, but can't stand cleaning your own home, you are in all likelihood doomed to failure. Choose something that excites you and that you feel passionate about. You need to feel motivated in order to continue growing your business in the years to come.
Remember what your goal is and stay focused on that. Don't let fear of failure defeat you. Regrets are one thing you certainly don't want in life. Once you've researched your venture and know it has potential, keep the next steps in mind. Learn, stay positive and enjoy this exciting phase of your life. Good luck.
1. Research the need for your product or service. If there are already 8 dry cleaning services in your town of 1,200 people, chances are your dry cleaning business will not succeed. If you are still determined to open your business when the demand isn't great, consider adding some creative or innovative products or services that the competition doesn't offer. Look into your local small business service centre for information on demand in your industry. Knowing that a service is in demand will give you the extra confidence that your business has potential.
2. Once you have decided that your business venture is viable, surround yourself with positive people. An encouraging word from a friend or family member can go a long way. Confidence and positivity go hand in hand. Conversely, negative thoughts bring self-doubt, and self-doubt almost certainly leads to failure. If someone in your life is negative concerning your business, try to discuss it with them as little as possible. This doesn't mean don't talk to them, just stay away from the subject of your business. Only talk about your business with positive people. This will help to leave you feeling excited at the end of your conversation instead of defeated.
3. Stay involved in the lives of your family and friends. A start-up business can be all encompassing. It takes over your thoughts sometimes night and day. Don't forget to put things into perspective. The most important things in life are your friends and family. Don't neglect them. You need to have a healthy balance between work and family and friends in order to be happy in your life. Remember that happiness is your ultimate goal. If you are not happy, then what is it all for?
4. Read as many books as you can find. Read books on your industry, opening a business in this industry and business in general. Many online bookstores allow you to read reviews of books before buying them. These reviews will most likely be from people like yourself, looking for the same kind of information as you are. They will let you know if the book is worth purchasing. Learning as much as you possibly can about your industry and opening a business, is a sure way to gain confidence.
5. Get involved. Join trade associations if they exist for your industry. The advice and insight you will receive from the individuals already working in your field can be even more valuable than the information you can read in a book.
6. Don't listen to the inner negative voice. Self doubt and fear of failure are what stops many would-be entrepreneurs from realizing their dreams. Whenever you realize that your inner dialogue is turning negative, change it immediately. You control your thoughts. Positive thinking is a powerful tool that will contribute greatly to your success.
7. Love what you do. If you are planning on opening a home cleaning service, but can't stand cleaning your own home, you are in all likelihood doomed to failure. Choose something that excites you and that you feel passionate about. You need to feel motivated in order to continue growing your business in the years to come.
Remember what your goal is and stay focused on that. Don't let fear of failure defeat you. Regrets are one thing you certainly don't want in life. Once you've researched your venture and know it has potential, keep the next steps in mind. Learn, stay positive and enjoy this exciting phase of your life. Good luck.
Top 10 Practices Of A Responsible Credit Card Holder
Credit is good, but only when it is absolutely necessary. An irresponsibly used credit card is a sure shot way of getting yourself into a debt trap that is nearly impossible to get yourself out of with out the help of a debt professional. So, for those who feel that they have been adorned with the privilege of being trusted with a credit card, this could be a wake up call to stay out of debt.
Use Your Credit Card for Emergencies
Make it a rule to use your credit card only for emergencies. You never know when you will need the credit facility your card offers you. Though the card facilitates you to buy something you would not normally be able to buy with cash, you should try to pay some amount of the bill through cash and the rest through your credit card. This will make it easier for you to repay the bill when it comes.
Don’t Use Your Entire Credit Limit
Your credit card may offer you a limit that is ten times your monthly salary. www.onlinecreditcardsinfo.com This is a temptation of getting into a debt trap where you will be repaying the interest most of the time. Try to use only 10 percent of the credit limit of the card. Do not over spend unless you are sure you can spare the cash from your next salary cheque. Don’t rush to use your full credit limit.
Repay Maximum of the Debt You Have Incurred
Make it a practice to repay the maximum of the debt billed to you. Many people try to stick around the minimum amount they have to pay, which is typically 10 percent of the bill amount. At this rate you will take about six years to repay the debt if you keep on using the card. Try to keep your credit card expense limited to 10 – 20 percent of the credit limit and repay as much as you can every month.
Keep Your Card At Home
If you find you are over spending try leaving your credit card at home when you go out. Take it with you when you feel you actually need to use it in an emergency.
Do Not Give Out Your Security Information to Anyone
Your security information is kept secret for a reason. Do not give this information to anyone. Not even to your best friend or credit card representative. This information includes date of birth, PIN and security questions.
Verify a Merchant Bill
Verify that the merchant outlet you have swiped your card at has only swiped the card once. Else you will be billed twice for the same transaction and will be a hassle to undo.
Never Give Out Your CVV Code to Anyone
Without your CVV code (the 3 digit number behind your card) you cannot make any online transactions. Your card number combined with this CVV number can be misused by any one who knows both. So when using your card at any outlet, ensure the attendant is not recording the CVV behind your card.
Never Leave Your Card Unattended
Many credit cards are stolen from vehicles. SO never leave your card anywhere out of sight including at your work place.
Check If the Card Returned To You Is Yours
Sometimes by mistake and at times deliberately, attendants return redundant cards to customers and retain the actual card for misuse. Check that the card returned to you is yours – every time.
Report Lost Cards Immediately
Do not wait to report lost or stolen credit cards. The damage might be much more than the nominal fee for blocking your card.
If you are careful with your card the above mentioned ten responsible actions regarding your credit card can save you many headaches – and a lot of money.
Use Your Credit Card for Emergencies
Make it a rule to use your credit card only for emergencies. You never know when you will need the credit facility your card offers you. Though the card facilitates you to buy something you would not normally be able to buy with cash, you should try to pay some amount of the bill through cash and the rest through your credit card. This will make it easier for you to repay the bill when it comes.
Don’t Use Your Entire Credit Limit
Your credit card may offer you a limit that is ten times your monthly salary. www.onlinecreditcardsinfo.com This is a temptation of getting into a debt trap where you will be repaying the interest most of the time. Try to use only 10 percent of the credit limit of the card. Do not over spend unless you are sure you can spare the cash from your next salary cheque. Don’t rush to use your full credit limit.
Repay Maximum of the Debt You Have Incurred
Make it a practice to repay the maximum of the debt billed to you. Many people try to stick around the minimum amount they have to pay, which is typically 10 percent of the bill amount. At this rate you will take about six years to repay the debt if you keep on using the card. Try to keep your credit card expense limited to 10 – 20 percent of the credit limit and repay as much as you can every month.
Keep Your Card At Home
If you find you are over spending try leaving your credit card at home when you go out. Take it with you when you feel you actually need to use it in an emergency.
Do Not Give Out Your Security Information to Anyone
Your security information is kept secret for a reason. Do not give this information to anyone. Not even to your best friend or credit card representative. This information includes date of birth, PIN and security questions.
Verify a Merchant Bill
Verify that the merchant outlet you have swiped your card at has only swiped the card once. Else you will be billed twice for the same transaction and will be a hassle to undo.
Never Give Out Your CVV Code to Anyone
Without your CVV code (the 3 digit number behind your card) you cannot make any online transactions. Your card number combined with this CVV number can be misused by any one who knows both. So when using your card at any outlet, ensure the attendant is not recording the CVV behind your card.
Never Leave Your Card Unattended
Many credit cards are stolen from vehicles. SO never leave your card anywhere out of sight including at your work place.
Check If the Card Returned To You Is Yours
Sometimes by mistake and at times deliberately, attendants return redundant cards to customers and retain the actual card for misuse. Check that the card returned to you is yours – every time.
Report Lost Cards Immediately
Do not wait to report lost or stolen credit cards. The damage might be much more than the nominal fee for blocking your card.
If you are careful with your card the above mentioned ten responsible actions regarding your credit card can save you many headaches – and a lot of money.
The History of Credit Cards
Credit Cards Replacing Paper Money
A credit card is a small piece of rectangular plastic that is no thicker than a sheet of paper, though it cannot be folded. Initially credit cards were metal tokens in the shape of coins, then they changed to metal plates to celluloid then fiber and now plastic with perhaps a photo of the holder and a magnetic strip on the reverse containing security information such as a personal identification number enabling the card to be used at money dispensing machines (ATM’s) and merchant establishments.
What is meant by ‘Credit’?
Credit is the system of buying some produce or service without having to pay for it at the time of the transaction. The payment is made at a pre-determined later date with the addition of a fee to the bill amount. This is like loaning someone money to buy something without actually giving them the cash but instead giving them the product they want to buy. So, the system of credit is not new to humanity in fact, it is as old as civilization itself or perhaps even older. The entrepreneurs of the inhuman kind have been proclaimed responsible for identifying human needs and wants as a rollicking business, and so they invented the credit card system. Though, disputed by many, The Diners Club is credited to be the ones to invent the credit card in 1950.
When Were Credit Cards Invented?
In contradiction to the theory that ‘The Diners Club’ started the credit card system, the Encyclopedia Britannica records the origin of credit cards www.onlinecreditcardsinfo.com in the United States as far back as the 1920’s. During this time firms such as oil companies and hotel chains started issuing credit cards to their regular and valued customers who were free to use their services and pay them at a later date. These cards were only useful for purchasing goods and services from the companies and establishments that issued the card. However, references to credit cards have been found as early as 1890 in Europe. It was only in the late 1930’s that companies started accepting each other’s credit cards and this is when things began to get complicated for accountants.
Computers Promoted The Use Of Credit Cards
In the beginning there were no computers to record the credit card transactions and the process of verifying the credit balance of the card was done manually through a regularly updated credit card directory, much like a telephone directory. This system was time consuming and tedious and provided many loop holes for credit card fraud. Today, with computerization, the use of a credit card is instantaneous. All one needs to do is to ‘swipe’ the card through a slot machine and the amount entered. If there is adequate balance in the account of the holder the transaction is completed and the customer billed a month later. Usually credit cards allow for a 50 day credit free period. If the outstanding bill is paid during this time the customer does not have to pay any interest on the transactions, else there is a whopping 2.9% charge per month on the bill amount.
Who Issues Credit Cards?
Banks and financial institutions are the main issuers and promoters of credit cards. The invention of the first bank-issued credit card is credited to John Biggins of the Flatbush National Bank of Brooklyn in New York. This was the year 1946 and Biggins did not know at the time that he had hit upon an idea that would take the world of credit by storm in times to come. From this first credit card called “Charge-It” many cards have flooded the market such as the all famous “American Express” credit card and the Diners credit card. The Bank of America issued the BankAmericard in 1958. This card is now known as the “VISA” card. Around the same time the popular MasterCard came into being. These are the two prevailing cards being used today. The era of plastic money had begun.
A credit card is a small piece of rectangular plastic that is no thicker than a sheet of paper, though it cannot be folded. Initially credit cards were metal tokens in the shape of coins, then they changed to metal plates to celluloid then fiber and now plastic with perhaps a photo of the holder and a magnetic strip on the reverse containing security information such as a personal identification number enabling the card to be used at money dispensing machines (ATM’s) and merchant establishments.
What is meant by ‘Credit’?
Credit is the system of buying some produce or service without having to pay for it at the time of the transaction. The payment is made at a pre-determined later date with the addition of a fee to the bill amount. This is like loaning someone money to buy something without actually giving them the cash but instead giving them the product they want to buy. So, the system of credit is not new to humanity in fact, it is as old as civilization itself or perhaps even older. The entrepreneurs of the inhuman kind have been proclaimed responsible for identifying human needs and wants as a rollicking business, and so they invented the credit card system. Though, disputed by many, The Diners Club is credited to be the ones to invent the credit card in 1950.
When Were Credit Cards Invented?
In contradiction to the theory that ‘The Diners Club’ started the credit card system, the Encyclopedia Britannica records the origin of credit cards www.onlinecreditcardsinfo.com in the United States as far back as the 1920’s. During this time firms such as oil companies and hotel chains started issuing credit cards to their regular and valued customers who were free to use their services and pay them at a later date. These cards were only useful for purchasing goods and services from the companies and establishments that issued the card. However, references to credit cards have been found as early as 1890 in Europe. It was only in the late 1930’s that companies started accepting each other’s credit cards and this is when things began to get complicated for accountants.
Computers Promoted The Use Of Credit Cards
In the beginning there were no computers to record the credit card transactions and the process of verifying the credit balance of the card was done manually through a regularly updated credit card directory, much like a telephone directory. This system was time consuming and tedious and provided many loop holes for credit card fraud. Today, with computerization, the use of a credit card is instantaneous. All one needs to do is to ‘swipe’ the card through a slot machine and the amount entered. If there is adequate balance in the account of the holder the transaction is completed and the customer billed a month later. Usually credit cards allow for a 50 day credit free period. If the outstanding bill is paid during this time the customer does not have to pay any interest on the transactions, else there is a whopping 2.9% charge per month on the bill amount.
Who Issues Credit Cards?
Banks and financial institutions are the main issuers and promoters of credit cards. The invention of the first bank-issued credit card is credited to John Biggins of the Flatbush National Bank of Brooklyn in New York. This was the year 1946 and Biggins did not know at the time that he had hit upon an idea that would take the world of credit by storm in times to come. From this first credit card called “Charge-It” many cards have flooded the market such as the all famous “American Express” credit card and the Diners credit card. The Bank of America issued the BankAmericard in 1958. This card is now known as the “VISA” card. Around the same time the popular MasterCard came into being. These are the two prevailing cards being used today. The era of plastic money had begun.
Research Tools for Pricing Research
Price marketing research involves finding a competitive price for your product. It involves deep analysis of the competition prevailing in the market and then taking a decision accordingly.
Market research companies help you in deciding an optimum price for your product, keeping in mind your product and its features. For this, market research firms use qualitative and quantitative research tools.
The pricing done by market research companies is done after keeping in mind consumer sensitivity towards pricing. Price sensitivity depends upon the nature of the market, target consumers, value of the company’s brand and the differential level of your company’s product and services.
Market research companies advise the client company on answering the brand-positioning question, while deciding upon the overall price features of your product or brand. Market research companies help you address the brand positioning-related questions and also make you aware of your current market standing.
In various stages of pricing research, market research companies help you by conducting market segmentation research and positioning research, which includes aspects like price sensitivity and concept analysis.
Qualitative research methods are employed to provide a base for the quantitative research for deciding on the competitive prices of the product. This task is carried out by defining the problem, assuming a hypothesis and identifying the determinants. Pricing research can be carried out by conducting personal interviews, which will help you get a personal opinion on what people feel, value and believe. It also helps in discovering the hidden issues. It is seen that it is the market research firm that decide the sample size in order to get an accurate market research data.
Market research companies help you in answering your specific problems related to the pricing of your product or service. They also make you aware of the benefits of carrying out pricing research, and advise you on how to tap the opportunities and maximize your success chances in market.
Global firms have analyzed the profits of investing in India and are therefore looking forward towards investing in the various sectors in India. This has led to increased competitive pricing in the country. This has also contributed in the boom in knowledge outprocessing companies in various parts of India. Market research companies prepare market research reports on the basis of research carried out by them.
To avail more information on market research in India and its future market growth log on to the website: http://www.rncos.com.
RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.
Market research companies help you in deciding an optimum price for your product, keeping in mind your product and its features. For this, market research firms use qualitative and quantitative research tools.
The pricing done by market research companies is done after keeping in mind consumer sensitivity towards pricing. Price sensitivity depends upon the nature of the market, target consumers, value of the company’s brand and the differential level of your company’s product and services.
Market research companies advise the client company on answering the brand-positioning question, while deciding upon the overall price features of your product or brand. Market research companies help you address the brand positioning-related questions and also make you aware of your current market standing.
In various stages of pricing research, market research companies help you by conducting market segmentation research and positioning research, which includes aspects like price sensitivity and concept analysis.
Qualitative research methods are employed to provide a base for the quantitative research for deciding on the competitive prices of the product. This task is carried out by defining the problem, assuming a hypothesis and identifying the determinants. Pricing research can be carried out by conducting personal interviews, which will help you get a personal opinion on what people feel, value and believe. It also helps in discovering the hidden issues. It is seen that it is the market research firm that decide the sample size in order to get an accurate market research data.
Market research companies help you in answering your specific problems related to the pricing of your product or service. They also make you aware of the benefits of carrying out pricing research, and advise you on how to tap the opportunities and maximize your success chances in market.
Global firms have analyzed the profits of investing in India and are therefore looking forward towards investing in the various sectors in India. This has led to increased competitive pricing in the country. This has also contributed in the boom in knowledge outprocessing companies in various parts of India. Market research companies prepare market research reports on the basis of research carried out by them.
To avail more information on market research in India and its future market growth log on to the website: http://www.rncos.com.
RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.
Do I Need a Commercial Broker To Invest in Commercial Property?
When investing in real estate an important decision to make will be whether or not you want to have a broker help make your real estate deals. Often, the answer to that question will have to do with where you are in your investing career. For those that are just beginning a broker can be a very useful tool in finding opportunities, what an investor should look for and what they don’t want to see in a property, and negotiating a deal that will make everyone happy. Those that are a bit seasoned in this area may not need so much help, but still can benefit in one way or another.
When preparing to purchase a commercial property for investment you may want the assistance of a broker. Having as much experience as they do in this field, a broker will be able to give good, solid reasons why a property may or may not be a good investment. If an investor is considering purchasing a building in order to section it off and lease out “stores” to those in retail, a broker may be able to let them know that this is not a good idea because there will shortly be a large shopping center being developed within a mile of this building. This would make it more difficult to lease out the spaces and it may not be a worthwhile investment unless the investor can come up with a different use for it. Without the knowledge of the broker, the investor may have ended up losing money due to a bad investment once the shopping mall came along.
A broker may also be able to hunt up other properties for investment. If, as an investor, you find that a property that you’ve been considering is not a good investment, a broker may be able to tell you about a few other properties that could be good for use in the way that you’re planning. A broker will also have information about properties before they even get listed. Sometimes this can work in your favor. If the realtor knows of the property and tells you about it, you see it and are interested, you may be able to negotiate with the owner of the property before it ever gets listed. This may give you the heads up on properties that others may have outbid you on. You will not have to worry about competing with other investors because they will not have known of the property. A broker may do this for you if they will still get a commission on the deal or they may forgo a commission or two in order to claim you as a client and keep you coming back. If they make you money, you’ll be more willing to make them money. This can be a win win situation on both sides of the fence.
If you’ve been working with brokers for a while and have a reasonably good idea of what you’re doing as an investor, you may not want to work with a broker at all. Even if a broker has given you a property or two, they will not continue to do that for long. All other properties will have part of the profits divided with the broker. If you feel that you’ve gained enough experience to deal without a broker, you can potentially save yourself thousands that would otherwise be a commission to the broker.
Being able to work without a broker will mean that you’ll have to have some communication with those that are selling properties. If you’ve done a lot of networking in the time that you’ve been investing, chances are that you have done some networking and meeting of people that do what you do. You may know owners of several commercial buildings of your area. They may know that you are a good business to deal with when they decide to sell their property. In this case, there is little else that a broker will do for you besides deal with the legal end of the sale.
If you’ve paid close attention in the closings and have looked closely at the paperwork that’s changed hands during the meeting at the close of the sale, you should be able to handle this part yourself. The documents that brokers use to close a commercial property sale can be purchased at most business office supply stores and several bookstores. Additionally, you can draw up these documents yourself with the help of your computer and printer. If you purchase the documents once and make several copies of the blank documents, you’ll have a good start. After you’ve done a few closings yourself you may add some documents that pertain to your business dealings or you may always use the documents purchased. Either way, you will be able to handle the closing of property transactions which will again save you thousands over using a broker.
A broker can have their uses. When you are starting out in the field of commercial investing, they can be a wealth of information and very helpful in your transactions. In the beginning, they may be well worth the investment that you have to put into them. Over time, they may not be as necessary as previous. If you make a point to network with others in the same or related fields, you will find yourself getting information thrown at you left and right when a commercial property comes up for sale. That will eliminate the need for the broker in that sense. If you pay close attention to the closings and gather the necessary paperwork to learn how a property closing works, you will eliminate entirely the need for the broker and this will save your company thousands at each closing. It makes good business sense to use a broker in the beginning, but learning about their job will ultimately raise your profit margins as you eliminate their need and then the use of them at all.
When preparing to purchase a commercial property for investment you may want the assistance of a broker. Having as much experience as they do in this field, a broker will be able to give good, solid reasons why a property may or may not be a good investment. If an investor is considering purchasing a building in order to section it off and lease out “stores” to those in retail, a broker may be able to let them know that this is not a good idea because there will shortly be a large shopping center being developed within a mile of this building. This would make it more difficult to lease out the spaces and it may not be a worthwhile investment unless the investor can come up with a different use for it. Without the knowledge of the broker, the investor may have ended up losing money due to a bad investment once the shopping mall came along.
A broker may also be able to hunt up other properties for investment. If, as an investor, you find that a property that you’ve been considering is not a good investment, a broker may be able to tell you about a few other properties that could be good for use in the way that you’re planning. A broker will also have information about properties before they even get listed. Sometimes this can work in your favor. If the realtor knows of the property and tells you about it, you see it and are interested, you may be able to negotiate with the owner of the property before it ever gets listed. This may give you the heads up on properties that others may have outbid you on. You will not have to worry about competing with other investors because they will not have known of the property. A broker may do this for you if they will still get a commission on the deal or they may forgo a commission or two in order to claim you as a client and keep you coming back. If they make you money, you’ll be more willing to make them money. This can be a win win situation on both sides of the fence.
If you’ve been working with brokers for a while and have a reasonably good idea of what you’re doing as an investor, you may not want to work with a broker at all. Even if a broker has given you a property or two, they will not continue to do that for long. All other properties will have part of the profits divided with the broker. If you feel that you’ve gained enough experience to deal without a broker, you can potentially save yourself thousands that would otherwise be a commission to the broker.
Being able to work without a broker will mean that you’ll have to have some communication with those that are selling properties. If you’ve done a lot of networking in the time that you’ve been investing, chances are that you have done some networking and meeting of people that do what you do. You may know owners of several commercial buildings of your area. They may know that you are a good business to deal with when they decide to sell their property. In this case, there is little else that a broker will do for you besides deal with the legal end of the sale.
If you’ve paid close attention in the closings and have looked closely at the paperwork that’s changed hands during the meeting at the close of the sale, you should be able to handle this part yourself. The documents that brokers use to close a commercial property sale can be purchased at most business office supply stores and several bookstores. Additionally, you can draw up these documents yourself with the help of your computer and printer. If you purchase the documents once and make several copies of the blank documents, you’ll have a good start. After you’ve done a few closings yourself you may add some documents that pertain to your business dealings or you may always use the documents purchased. Either way, you will be able to handle the closing of property transactions which will again save you thousands over using a broker.
A broker can have their uses. When you are starting out in the field of commercial investing, they can be a wealth of information and very helpful in your transactions. In the beginning, they may be well worth the investment that you have to put into them. Over time, they may not be as necessary as previous. If you make a point to network with others in the same or related fields, you will find yourself getting information thrown at you left and right when a commercial property comes up for sale. That will eliminate the need for the broker in that sense. If you pay close attention to the closings and gather the necessary paperwork to learn how a property closing works, you will eliminate entirely the need for the broker and this will save your company thousands at each closing. It makes good business sense to use a broker in the beginning, but learning about their job will ultimately raise your profit margins as you eliminate their need and then the use of them at all.
Getting The Best Deal On Cheap Mortgage Payment Protection Insurance
If you want the best deal on cheap mortgage payment protection insurance then without a doubt the only way to go is by purchasing shopping around and getting the cover independently from a specialist provider. A specialist provider can not only help you to make substantial savings when it comes to the premiums charged for the policy, but will also be able to ensure you get the policy most suited for your needs and, if they are reputable, should provide free advice.
When looking for a policy, never be tempted to take what the high street lenders and banks offer you when you take out your mortgage without first doing a bit of research. The cover doesn’t have to be taken alongside your mortgage regardless of the pressure techniques the lender might use to persuade you it does. While it’s true some lenders will insist that you do take out cover to protect the loan, you can choose where to buy the cover from. High street lenders in the majority simply don’t have the experience needed when it comes to selling mortgage payment protection and, as recent finings from the Financial Services Authority have proved, sales techniques are very poor. This has led to wide spread mis-selling of policies and has left many unfortunate people not being able to make a claim on their policy when needed.
All policies will have exclusions and these are often hidden in the small print and these are what you should be aware of when it comes to taking out the policy. A mortgage payment protection policy is taken out to ensure that if you should come out of work through an accident, prolonged sickness or unforeseen unemployment then the cover will provide a tax-free monthly income which means you can still pay the mortgage. However there are certain illnesses which are excluded and medical conditions that you have at the time of taking out the policy will normally be excluded, this is why it’s important that you check the small print of a policy.
When it comes to getting the best deal on a mortgage payment protection insurance policy then you simply have to go independently to a specialist for it, this is probably the only way to get a quality product while making savings on your premium.
When looking for a policy, never be tempted to take what the high street lenders and banks offer you when you take out your mortgage without first doing a bit of research. The cover doesn’t have to be taken alongside your mortgage regardless of the pressure techniques the lender might use to persuade you it does. While it’s true some lenders will insist that you do take out cover to protect the loan, you can choose where to buy the cover from. High street lenders in the majority simply don’t have the experience needed when it comes to selling mortgage payment protection and, as recent finings from the Financial Services Authority have proved, sales techniques are very poor. This has led to wide spread mis-selling of policies and has left many unfortunate people not being able to make a claim on their policy when needed.
All policies will have exclusions and these are often hidden in the small print and these are what you should be aware of when it comes to taking out the policy. A mortgage payment protection policy is taken out to ensure that if you should come out of work through an accident, prolonged sickness or unforeseen unemployment then the cover will provide a tax-free monthly income which means you can still pay the mortgage. However there are certain illnesses which are excluded and medical conditions that you have at the time of taking out the policy will normally be excluded, this is why it’s important that you check the small print of a policy.
When it comes to getting the best deal on a mortgage payment protection insurance policy then you simply have to go independently to a specialist for it, this is probably the only way to get a quality product while making savings on your premium.
Mortgage Loans - Which one is right for me?
There seem to literally be thousands of mortgage programs out there so how do I know which one is best for me? Finding the right mortgage program to fit your needs and your financial goals can be difficult to do unless you are working with the "right" mortgage professional and asking the "right" questions.
Which mortgage program is right for me? This is a very common question asked by many consumers. There is no one answer fits all type response that can be given. Each and every individual person has their own specific financial situation and their own financial goals and dreams. With the number of mortgage programs out there to choose from being in the hundreds and maybe even the thousands, this can be a difficult decision trying to figure out what is going to be best for you. There are interest only loans, ARM loans, Pay Option ARM loans, balloons, fixed rate loans, extendable balloons, conventional loans, FHA loans, and many, many others to consider. Therefore, so what do I need to think about when choosing a loan program then?
Some of the main factors that you will want to consider when choosing which mortgage loan is right for you are: how long will you live in your home, do you have any children attending college currently or within the next few years, is this a starter home, will you have a pre-payment penalty, are you expecting any new family members to be added to your family, how much do you have in liquid assets, are you self-employed or do you work for someone, how much longer until you plan on retiring, do you have enough money for retirement, do you have many other financial obligations besides a mortgage, do you own any other property, and many, many others. Answering these questions, or at least thinking about them before you are ready to finance a home mortgage loan can help to greatly improve your chances of finding the right mortgage loan to meet your demands.
A fixed rate mortgage is always going to provide the most stability in the long run, however since most Americans sell or refinance every 4.6 years a fixed rate does not always make the most sense. An ARM loan can provide a cheaper payment and a lower interest rate upfront for a certain number of years, but there is a lot more risk involved obtaining an ARM loan because of the uncertainty of what will happen after the fixed rate period expires on the ARM. Interest only loans are good for real estate investors and consumers who need the flexibility of being able to make only the interest portion of the monthly payments. Pay Option ARM loans can be a great way to maximize cash flow, especially for self-employed and commissioned borrowers. However, Pay Option ARM loans can incur negative amortization, which is when your balance increases instead of decreases. There are a lot of items that you need to make sure that you understand before entering into a Pay Option ARM loan. FHA loans are usually better for homebuyers, especially first time who may not have the best credit or the best overall financial situation.
Thus, find a good mortgage professional and keep him or her for the rest of your days. The more you work with one person the more familiar they will be with your situation and be able to understand where you are coming from and where you want to go. This will help to insure that you find the proper mortgage loan for your situation.
Which mortgage program is right for me? This is a very common question asked by many consumers. There is no one answer fits all type response that can be given. Each and every individual person has their own specific financial situation and their own financial goals and dreams. With the number of mortgage programs out there to choose from being in the hundreds and maybe even the thousands, this can be a difficult decision trying to figure out what is going to be best for you. There are interest only loans, ARM loans, Pay Option ARM loans, balloons, fixed rate loans, extendable balloons, conventional loans, FHA loans, and many, many others to consider. Therefore, so what do I need to think about when choosing a loan program then?
Some of the main factors that you will want to consider when choosing which mortgage loan is right for you are: how long will you live in your home, do you have any children attending college currently or within the next few years, is this a starter home, will you have a pre-payment penalty, are you expecting any new family members to be added to your family, how much do you have in liquid assets, are you self-employed or do you work for someone, how much longer until you plan on retiring, do you have enough money for retirement, do you have many other financial obligations besides a mortgage, do you own any other property, and many, many others. Answering these questions, or at least thinking about them before you are ready to finance a home mortgage loan can help to greatly improve your chances of finding the right mortgage loan to meet your demands.
A fixed rate mortgage is always going to provide the most stability in the long run, however since most Americans sell or refinance every 4.6 years a fixed rate does not always make the most sense. An ARM loan can provide a cheaper payment and a lower interest rate upfront for a certain number of years, but there is a lot more risk involved obtaining an ARM loan because of the uncertainty of what will happen after the fixed rate period expires on the ARM. Interest only loans are good for real estate investors and consumers who need the flexibility of being able to make only the interest portion of the monthly payments. Pay Option ARM loans can be a great way to maximize cash flow, especially for self-employed and commissioned borrowers. However, Pay Option ARM loans can incur negative amortization, which is when your balance increases instead of decreases. There are a lot of items that you need to make sure that you understand before entering into a Pay Option ARM loan. FHA loans are usually better for homebuyers, especially first time who may not have the best credit or the best overall financial situation.
Thus, find a good mortgage professional and keep him or her for the rest of your days. The more you work with one person the more familiar they will be with your situation and be able to understand where you are coming from and where you want to go. This will help to insure that you find the proper mortgage loan for your situation.
Using Your Health Savings Account to Pay for International Travel
Medical tourism first began to get popular in the 1990's, when people began traveling in large numbers to Brazil for cosmetic surgery. But as costs have continued to rise, thousands of Americans have been traveling overseas for real medical conditions, such as knee replacements, by-pass operations, heart valve replacements, and other serious issues. Many countries are seeing medical tourism as a good way to bring in foreign money.
In many cases the quality of medicine available overseas is equal to the top hospitals in the U.S. Patients are showing up in places like the Apollo Hospital in India, which is part of a 36-hospital chain founded by a cardiologist from Massachusetts General. A heart valve replacement may cost $50,000 to $100,000 in the U.S., and only $12,000 in India, including travel costs.
Escorts Heart Institute and Research Center, in Delhi, India, is another popular medical tourist destination. It was founded by Dr. Naresh Trehan, an authority on robotic cardiac surgery formerly based at New York University.
Blue Cross Blue Shield has just announced that they will pay for treatment at Bumrungrad International Hospital, in Bangkok, Thailand for individuals from South Carolina. Over 80,000 Americans received treatment there last year. The hospital boasts that over 200 of its doctors are board-certified in the U.S, and will perform a knee replacement operation for 20 percent of what it would cost in the U.S.
Who Does This?
Dodie Gilmore is a 60 year-old rodeo barrel-racing champ from Oklahoma. She runs a 180 acre ranch, but could no longer ride a horse because she needed a hip replacement. Her health insurance plan had an exclusion that wouldn't cover her operation, and she really didn't feel like paying the $35,000 it would cost her. Instead she and her partner flew to India where she had the surgery at the Max Institute of Orthopedics and Joint Replacement.
Her physician was Dr. S.K.S. Marya, who averages one American hip-replacement patient every week. Dodie's total coast, including travel, was only $11,000. She even managed to take in a tour of the Taj Mahal.
Forty to Sixty percent of those surveyed say they would consider surgery abroad if it could save them $5,000 or more. Going out of the U.S. (perhaps even just to Mexico), could be a worthwhile strategy if you have an exclusionary waiver on your policy, if you'll be having elective surgery not covered by your health insurance policy, or if you have a high deductible plan.
What is the Risk?
According to the Institute of Medicine, over 100,000 accidental deaths occur in hospitals every year. And that's here in the U.S. Hospitals are a dangerous place to be, and you want to spend as little of your life in one as possible. So there are risks everywhere, and probably greater risks outside the U.S.
But the magic of the free-market does give you some protection. There is a lot of money flowing to countries and international hospitals that practice high-quality medicine. If a hospital does not provide quality service, you can bet its customers will go elsewhere, particularly if they are choosing among anywhere in the world.
The influx of foreign patients (and money) is enticing more western-trained doctors to return home, so the choices are actually increasing, and the quality and prices continue to improve. I believe that if you use care in choosing your provider and structuring your treatment, the risks are no greater than having surgery here in the U.S.
How to Research Your Options
Keep in mind that most health insurance plans still will not cover for treatment outside the U.S., especially if you are traveling to receive medical care. So check with your insurer if the cost of the treatment is going to exceed your deductible.
The Joint Commission on Accreditation of Healthcare Organizations certifies hospitals here in the U.S. Their international division, Joint Commission International, certifies hospitals throughout the rest of the world. Make sure the facility that you are considering has been certified by them.
Then check out your doctor. Confirm that he or she is English speaking, and was trained in the U.S., U.K., Australia, or Germany.
Finally, consider hiring a consultant to help you choose the best hospital and surgeon for your needs. A good service will not only set up the treatment, but can also arrange all travel plans, meet you at the airport, and act as your liaison while you are being treated.
If you spend money from your Health Savings Account to pay for international medical care, the amount you withdraw is tax-free. Health Savings Account regulations also allow you to cover the cost of your travel if the reason you are traveling to get medical care is not "for purely personal reasons."
When choosing how to manage your health, you should carefully consider all your options. International travel is a great option for people with Health Savings Accounts.
In many cases the quality of medicine available overseas is equal to the top hospitals in the U.S. Patients are showing up in places like the Apollo Hospital in India, which is part of a 36-hospital chain founded by a cardiologist from Massachusetts General. A heart valve replacement may cost $50,000 to $100,000 in the U.S., and only $12,000 in India, including travel costs.
Escorts Heart Institute and Research Center, in Delhi, India, is another popular medical tourist destination. It was founded by Dr. Naresh Trehan, an authority on robotic cardiac surgery formerly based at New York University.
Blue Cross Blue Shield has just announced that they will pay for treatment at Bumrungrad International Hospital, in Bangkok, Thailand for individuals from South Carolina. Over 80,000 Americans received treatment there last year. The hospital boasts that over 200 of its doctors are board-certified in the U.S, and will perform a knee replacement operation for 20 percent of what it would cost in the U.S.
Who Does This?
Dodie Gilmore is a 60 year-old rodeo barrel-racing champ from Oklahoma. She runs a 180 acre ranch, but could no longer ride a horse because she needed a hip replacement. Her health insurance plan had an exclusion that wouldn't cover her operation, and she really didn't feel like paying the $35,000 it would cost her. Instead she and her partner flew to India where she had the surgery at the Max Institute of Orthopedics and Joint Replacement.
Her physician was Dr. S.K.S. Marya, who averages one American hip-replacement patient every week. Dodie's total coast, including travel, was only $11,000. She even managed to take in a tour of the Taj Mahal.
Forty to Sixty percent of those surveyed say they would consider surgery abroad if it could save them $5,000 or more. Going out of the U.S. (perhaps even just to Mexico), could be a worthwhile strategy if you have an exclusionary waiver on your policy, if you'll be having elective surgery not covered by your health insurance policy, or if you have a high deductible plan.
What is the Risk?
According to the Institute of Medicine, over 100,000 accidental deaths occur in hospitals every year. And that's here in the U.S. Hospitals are a dangerous place to be, and you want to spend as little of your life in one as possible. So there are risks everywhere, and probably greater risks outside the U.S.
But the magic of the free-market does give you some protection. There is a lot of money flowing to countries and international hospitals that practice high-quality medicine. If a hospital does not provide quality service, you can bet its customers will go elsewhere, particularly if they are choosing among anywhere in the world.
The influx of foreign patients (and money) is enticing more western-trained doctors to return home, so the choices are actually increasing, and the quality and prices continue to improve. I believe that if you use care in choosing your provider and structuring your treatment, the risks are no greater than having surgery here in the U.S.
How to Research Your Options
Keep in mind that most health insurance plans still will not cover for treatment outside the U.S., especially if you are traveling to receive medical care. So check with your insurer if the cost of the treatment is going to exceed your deductible.
The Joint Commission on Accreditation of Healthcare Organizations certifies hospitals here in the U.S. Their international division, Joint Commission International, certifies hospitals throughout the rest of the world. Make sure the facility that you are considering has been certified by them.
Then check out your doctor. Confirm that he or she is English speaking, and was trained in the U.S., U.K., Australia, or Germany.
Finally, consider hiring a consultant to help you choose the best hospital and surgeon for your needs. A good service will not only set up the treatment, but can also arrange all travel plans, meet you at the airport, and act as your liaison while you are being treated.
If you spend money from your Health Savings Account to pay for international medical care, the amount you withdraw is tax-free. Health Savings Account regulations also allow you to cover the cost of your travel if the reason you are traveling to get medical care is not "for purely personal reasons."
When choosing how to manage your health, you should carefully consider all your options. International travel is a great option for people with Health Savings Accounts.
Get all Required Protection with Cheap Home Insurance Quote UK
Home insurance in UK provides a sense of security in you that your home is safe. If you wish to buy a home insurance in UK then the cheap home insurance quote available in UK can be of prime need for you.
Although home insurance can be quite expensive depending upon the value of your home but if you want to get home insurance quote in UK at cheap rate then you will have to keep some factors in your mind. Cheap home insurance quote in UK is purchased by people for saving their home against any loss or disaster which might be beyond their capacity to bear in the happening of any event. Home insurance quote in UK is generally given by insurance companies at cheap rate depending upon some facts like the deductibles paid and safety measures installed in your home. If you are residing in a home which is near to the fire station and police station then insurance provider will prefer to offer cheap home insurance quote in UK because it reduces the risk of danger from theft. Payment of higher deductibles can also make you available the cheap home insurance quote in UK.
Quote for cheap home insurance in UK gives protection to your home in case of calamities like hurricane, earthquake, and any other sudden natural disaster which might cause unbearable losses and damages to your home. Even sometimes incidents like riots, vandalism, and malice acts can be very disastrous for your home. So instead of living in danger it is better if you take some home insurance policy after studying well the home insurance quotes at cheap rate.
Another way of getting cheap home insurance quote in UK is to take your home insurance from the same insurance provider from whom you have taken your any other insurance policy. In this way you can not only get cheap home insurance quote in UK but might also get discount with your policy.
Insurance providers in UK provides quote for cheap home insurance on the internet. Online availability of cheap home insurance quote in UK has removed your tension to search about the best policy of home insurance. Insurance companies will provide you all the information online which you might need when buying a cheap home insurance quote in UK. Hence in UK internet is the best mode of searching about the cheap home insurance quote. From innumerable online quote for cheap home insurance in UK you can compare and choose the best one for yourself.
Although home insurance can be quite expensive depending upon the value of your home but if you want to get home insurance quote in UK at cheap rate then you will have to keep some factors in your mind. Cheap home insurance quote in UK is purchased by people for saving their home against any loss or disaster which might be beyond their capacity to bear in the happening of any event. Home insurance quote in UK is generally given by insurance companies at cheap rate depending upon some facts like the deductibles paid and safety measures installed in your home. If you are residing in a home which is near to the fire station and police station then insurance provider will prefer to offer cheap home insurance quote in UK because it reduces the risk of danger from theft. Payment of higher deductibles can also make you available the cheap home insurance quote in UK.
Quote for cheap home insurance in UK gives protection to your home in case of calamities like hurricane, earthquake, and any other sudden natural disaster which might cause unbearable losses and damages to your home. Even sometimes incidents like riots, vandalism, and malice acts can be very disastrous for your home. So instead of living in danger it is better if you take some home insurance policy after studying well the home insurance quotes at cheap rate.
Another way of getting cheap home insurance quote in UK is to take your home insurance from the same insurance provider from whom you have taken your any other insurance policy. In this way you can not only get cheap home insurance quote in UK but might also get discount with your policy.
Insurance providers in UK provides quote for cheap home insurance on the internet. Online availability of cheap home insurance quote in UK has removed your tension to search about the best policy of home insurance. Insurance companies will provide you all the information online which you might need when buying a cheap home insurance quote in UK. Hence in UK internet is the best mode of searching about the cheap home insurance quote. From innumerable online quote for cheap home insurance in UK you can compare and choose the best one for yourself.
Get all Required Protection with Cheap Home Insurance Quote UK
Home insurance in UK provides a sense of security in you that your home is safe. If you wish to buy a home insurance in UK then the cheap home insurance quote available in UK can be of prime need for you.
Although home insurance can be quite expensive depending upon the value of your home but if you want to get home insurance quote in UK at cheap rate then you will have to keep some factors in your mind. Cheap home insurance quote in UK is purchased by people for saving their home against any loss or disaster which might be beyond their capacity to bear in the happening of any event. Home insurance quote in UK is generally given by insurance companies at cheap rate depending upon some facts like the deductibles paid and safety measures installed in your home. If you are residing in a home which is near to the fire station and police station then insurance provider will prefer to offer cheap home insurance quote in UK because it reduces the risk of danger from theft. Payment of higher deductibles can also make you available the cheap home insurance quote in UK.
Quote for cheap home insurance in UK gives protection to your home in case of calamities like hurricane, earthquake, and any other sudden natural disaster which might cause unbearable losses and damages to your home. Even sometimes incidents like riots, vandalism, and malice acts can be very disastrous for your home. So instead of living in danger it is better if you take some home insurance policy after studying well the home insurance quotes at cheap rate.
Another way of getting cheap home insurance quote in UK is to take your home insurance from the same insurance provider from whom you have taken your any other insurance policy. In this way you can not only get cheap home insurance quote in UK but might also get discount with your policy.
Insurance providers in UK provides quote for cheap home insurance on the internet. Online availability of cheap home insurance quote in UK has removed your tension to search about the best policy of home insurance. Insurance companies will provide you all the information online which you might need when buying a cheap home insurance quote in UK. Hence in UK internet is the best mode of searching about the cheap home insurance quote. From innumerable online quote for cheap home insurance in UK you can compare and choose the best one for yourself.
Although home insurance can be quite expensive depending upon the value of your home but if you want to get home insurance quote in UK at cheap rate then you will have to keep some factors in your mind. Cheap home insurance quote in UK is purchased by people for saving their home against any loss or disaster which might be beyond their capacity to bear in the happening of any event. Home insurance quote in UK is generally given by insurance companies at cheap rate depending upon some facts like the deductibles paid and safety measures installed in your home. If you are residing in a home which is near to the fire station and police station then insurance provider will prefer to offer cheap home insurance quote in UK because it reduces the risk of danger from theft. Payment of higher deductibles can also make you available the cheap home insurance quote in UK.
Quote for cheap home insurance in UK gives protection to your home in case of calamities like hurricane, earthquake, and any other sudden natural disaster which might cause unbearable losses and damages to your home. Even sometimes incidents like riots, vandalism, and malice acts can be very disastrous for your home. So instead of living in danger it is better if you take some home insurance policy after studying well the home insurance quotes at cheap rate.
Another way of getting cheap home insurance quote in UK is to take your home insurance from the same insurance provider from whom you have taken your any other insurance policy. In this way you can not only get cheap home insurance quote in UK but might also get discount with your policy.
Insurance providers in UK provides quote for cheap home insurance on the internet. Online availability of cheap home insurance quote in UK has removed your tension to search about the best policy of home insurance. Insurance companies will provide you all the information online which you might need when buying a cheap home insurance quote in UK. Hence in UK internet is the best mode of searching about the cheap home insurance quote. From innumerable online quote for cheap home insurance in UK you can compare and choose the best one for yourself.
Bankruptcy - Easy Way Out or Life Altering Event
Is Bankruptcy really the "peaches and cream" that it is made out to be or is there much more to it than what we know? Bankruptcy is a somewhat complex procedure, and even more now so with the new Bankruptcy laws in effect, making it harder for people to abuse filing for Bankruptcy. Many people look at Bankruptcy as a "get out of jail free" card. That could not be any farther from the truth.
There are two basic types of Bankruptcy proceedings. The most common types of personal bankruptcy for individuals are Chapter 7 and Chapter 13. Of the two common forms of bankruptcy, one is a reorganization bankruptcy and the other is a liquidation bankruptcy. Individuals may enter a reorganization bankruptcy in order to retain assets and pay off reduced creditor claims out of the individual's income. Reorganization is most commonly known as Chapter 13 Bankruptcy. In the US, liquidation is known as Chapter 7 Bankruptcy, which refers to the chapter of the bankruptcy law that allows your assets to be sold off (liquidated) to pay creditors. In Chapter 7, a debtor surrenders his or her non-exempt property to a bankruptcy trustee who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. If a debtor does not qualify for relief under Chapter 7 of the Bankruptcy Code, either because of the "means test" or because Chapter 7 does not provide a permanent solution to delinquent payments for secured debts, such as mortgages or vehicle loans, the debtor may still seek relief under Chapter 13 of the Code. Falsifications on bankruptcy forms often constitutes perjury.
Recently there have been some major changes made to the bankruptcy laws. Under the old rules, most filers could choose the type of bankruptcy that seemed best for them, and most chose Chapter 7 (liquidation) over Chapter 13 (repayment).The new law makes it considerably more difficult for individuals to file for bankruptcy under Chapter 7, under which most of their debts are forgiven (or discharged), as opposed to Chapter 13, under which no debts are forgiven. The new law will also make it more difficult for serial filers to abuse the most generous bankruptcy protections. Under the old law, filers generally filed under Chapter 7, with the final determination made by bankruptcy judges, who evaluated the specific nature of each bankruptcy. The new law adds a number of new requirements for bankruptcy filers making the filing process more difficult and costly. All potential bankruptcy filers must now undergo credit counseling via an "approved nonprofit budget and credit counseling agency" prior to filing for bankruptcy. The new bankruptcy law brings some unwelcome changes for those who are considering bankruptcy. All debtors will have to get credit counseling before they can file a bankruptcy case.
There is more to filing bankruptcy than simply thinking you will just go see an attorney and all of your debts will be wiped away. It is a myth to think, I'll just file bankruptcy and start over, it seems so easy. The truth of the matter is that Bankruptcy is a gut-wrenching, life-changing event that can cause lifelong damage to a person's mental well-being along with their personal finances for a long time. Therefore, think long and hard and make sure you have exhausted all of your other options before deciding that you want or need to file bankruptcy. Bankruptcy is rated up there with some of the most traumatic life altering events such as loss of a loved one, serious illness, divorce and disability. Truly weigh your options before committing to filing for bankruptcy protection.
There are two basic types of Bankruptcy proceedings. The most common types of personal bankruptcy for individuals are Chapter 7 and Chapter 13. Of the two common forms of bankruptcy, one is a reorganization bankruptcy and the other is a liquidation bankruptcy. Individuals may enter a reorganization bankruptcy in order to retain assets and pay off reduced creditor claims out of the individual's income. Reorganization is most commonly known as Chapter 13 Bankruptcy. In the US, liquidation is known as Chapter 7 Bankruptcy, which refers to the chapter of the bankruptcy law that allows your assets to be sold off (liquidated) to pay creditors. In Chapter 7, a debtor surrenders his or her non-exempt property to a bankruptcy trustee who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. If a debtor does not qualify for relief under Chapter 7 of the Bankruptcy Code, either because of the "means test" or because Chapter 7 does not provide a permanent solution to delinquent payments for secured debts, such as mortgages or vehicle loans, the debtor may still seek relief under Chapter 13 of the Code. Falsifications on bankruptcy forms often constitutes perjury.
Recently there have been some major changes made to the bankruptcy laws. Under the old rules, most filers could choose the type of bankruptcy that seemed best for them, and most chose Chapter 7 (liquidation) over Chapter 13 (repayment).The new law makes it considerably more difficult for individuals to file for bankruptcy under Chapter 7, under which most of their debts are forgiven (or discharged), as opposed to Chapter 13, under which no debts are forgiven. The new law will also make it more difficult for serial filers to abuse the most generous bankruptcy protections. Under the old law, filers generally filed under Chapter 7, with the final determination made by bankruptcy judges, who evaluated the specific nature of each bankruptcy. The new law adds a number of new requirements for bankruptcy filers making the filing process more difficult and costly. All potential bankruptcy filers must now undergo credit counseling via an "approved nonprofit budget and credit counseling agency" prior to filing for bankruptcy. The new bankruptcy law brings some unwelcome changes for those who are considering bankruptcy. All debtors will have to get credit counseling before they can file a bankruptcy case.
There is more to filing bankruptcy than simply thinking you will just go see an attorney and all of your debts will be wiped away. It is a myth to think, I'll just file bankruptcy and start over, it seems so easy. The truth of the matter is that Bankruptcy is a gut-wrenching, life-changing event that can cause lifelong damage to a person's mental well-being along with their personal finances for a long time. Therefore, think long and hard and make sure you have exhausted all of your other options before deciding that you want or need to file bankruptcy. Bankruptcy is rated up there with some of the most traumatic life altering events such as loss of a loved one, serious illness, divorce and disability. Truly weigh your options before committing to filing for bankruptcy protection.
How To Make Money Online By Sharing Videos
Making money online by sharing videos on the Internet may seem too good to be possible, but it does work. There are several websites, including some very popular ones, that will pay you to upload videos and allow them to be played on websites. Some of these websites demand exclusive videos that you personally own, but some of these websites allow videos that have been posted elsewhere. If you have a lot of videos stored, or you can take a lot of interesting video, then this may be a great way for you to make money online.
The reason that a lot of these sites pay you to share videos is to draw more traffic to the sites that are full of ads. When you share videos on certain websites, the revenue that is generated by the traffic clicking on the ads is divided between you and the website, or you and the advertiser. You make money by sharing your videos, and the site gets interesting content that will help draw traffic to the site and the ads. Some of the more common programs that pay you to upload videos and share them are Flixya, YouTube, Metacafe, Associated Content, and VuMe.
Some of these sites require you to register for a Google Adsense account, but they also offer a personalized URL for your use in sharing videos and ads. It is important to understand any restrictions on the photo uploads, because some of the websites require you to submit only exclusive videos, unlike Flixya, which allows videos to be shared from any source that is available to you, and allows the same videos to be posted anywhere on the web. This means that you can post these videos on more than one site, which can help increase your income from making money online by sharing videos.
When sharing videos online to make money, it is important that you understand the regulations of the websites and the advertisers. Know whether video postings must be exclusive to that site. Some sites require a Google Adsense account, so make sure you know about this requirement as well. Make sure that your shared videos are appropriate for the audience as well. Do not post any graphic or obscene videos, as this may get you banned and cost you money. Also remember to continue to market your web page to increase traffic, because more traffic means more ads clicked, which means more income for you.
Flixya.com is another website that will pay users to upload videos. The payment method works similar to most other paid-to-upload sites; they split the advertising with you. So, the more popular your videos are, the greater potential you have to earn money.
Your submissions to Flixya are nonexclusive, as well, so you can post the same videos on YouTube, Associated Content, VuMe, and Metacafe.
Before you get started, you are going to need to open a Google Adsense account. Flixya pays you by rotating your Adsense publisher ID with their's 50/50. Half the times ads are displayed on your page, you earn the revenue. I am going to assume that everyone already know what Adsense is and how to sign up for an account, but just incase you don't, I will briefly explain it. It's really simple, just go to the Google Adsense website and follow the instructions for creating a publisher account. Google will ask you to submit a URL for the site you will be displaying ads on, just use your Flixya URL.
The next step, of course, is to start uploading videos. One of the great things about Flixya, is that you don't have to submit original content. You can use any video from sites like YouTube and MySpace. A lot of other sites that pay for videos require that you only submit original content, which makes it difficult to not only submit a large quantity of videos, but to also ensure your videos will be popular. The fact that Flixya allows you to share any video makes it easy to contribute content that will be well liked and get lots of views.
The reason that a lot of these sites pay you to share videos is to draw more traffic to the sites that are full of ads. When you share videos on certain websites, the revenue that is generated by the traffic clicking on the ads is divided between you and the website, or you and the advertiser. You make money by sharing your videos, and the site gets interesting content that will help draw traffic to the site and the ads. Some of the more common programs that pay you to upload videos and share them are Flixya, YouTube, Metacafe, Associated Content, and VuMe.
Some of these sites require you to register for a Google Adsense account, but they also offer a personalized URL for your use in sharing videos and ads. It is important to understand any restrictions on the photo uploads, because some of the websites require you to submit only exclusive videos, unlike Flixya, which allows videos to be shared from any source that is available to you, and allows the same videos to be posted anywhere on the web. This means that you can post these videos on more than one site, which can help increase your income from making money online by sharing videos.
When sharing videos online to make money, it is important that you understand the regulations of the websites and the advertisers. Know whether video postings must be exclusive to that site. Some sites require a Google Adsense account, so make sure you know about this requirement as well. Make sure that your shared videos are appropriate for the audience as well. Do not post any graphic or obscene videos, as this may get you banned and cost you money. Also remember to continue to market your web page to increase traffic, because more traffic means more ads clicked, which means more income for you.
Flixya.com is another website that will pay users to upload videos. The payment method works similar to most other paid-to-upload sites; they split the advertising with you. So, the more popular your videos are, the greater potential you have to earn money.
Your submissions to Flixya are nonexclusive, as well, so you can post the same videos on YouTube, Associated Content, VuMe, and Metacafe.
Before you get started, you are going to need to open a Google Adsense account. Flixya pays you by rotating your Adsense publisher ID with their's 50/50. Half the times ads are displayed on your page, you earn the revenue. I am going to assume that everyone already know what Adsense is and how to sign up for an account, but just incase you don't, I will briefly explain it. It's really simple, just go to the Google Adsense website and follow the instructions for creating a publisher account. Google will ask you to submit a URL for the site you will be displaying ads on, just use your Flixya URL.
The next step, of course, is to start uploading videos. One of the great things about Flixya, is that you don't have to submit original content. You can use any video from sites like YouTube and MySpace. A lot of other sites that pay for videos require that you only submit original content, which makes it difficult to not only submit a large quantity of videos, but to also ensure your videos will be popular. The fact that Flixya allows you to share any video makes it easy to contribute content that will be well liked and get lots of views.
Making The Most Of Your Supply Chain Metrics To Leverage Competitive Advantage
The majority of KPI dashboards are in fact overloaded with metrics and the key to getting the most out of your SCM intelligence is in choosing the most appropriate metrics that are key to providing decision makers with the necessary information to deliver informed decisions when they need it. Using dashboards that are carrying large numbers of KPI's does not deliver information to SCM managers so they can make optimal decisions. Focusing on the key metrics that identify the main source of SCM business performance is vital and reducing the number of metrics used allows managers to understand better and far more intuitively what a metric is actually trying to tell them.
"Less is more" or TMI (Too Much Information) are two of the comments that you will hear from SCM experts who truly understand the components of the business supply chain from procurement, processing and through to customer delivery. In the very recent few years, with the introduction of RFID technology that allows tagging of containers, pallets and individual shipment items replete with a mass of raw data on content, models, color, specification, origination and so on , it is extremely tempting to dive in and start thinking that all this data that we are now routinely able to collect and collate can somehow be manipulated to provide SCM managers with even more information that will help them make better and more profitable decisions.
This is a short sighted approach and the reality does not match the theory that all of this information being put in front of an SCM management team is actually going to help them.
Following Pareto's Principle and focusing on the 20% of metrics that are actually telling you how 80% of SCM business performance is actually being generated does deliver better results.
The issue will become what are you going to use?
Concentrating on the basics will provide a far better SCM dashboard to equip managers to focus on the real drivers of the supply chain process. Remember we are looking to focus on cost reduction, better supplier management, shorter delivery times or better on-time delivery to customers, improving the efficiency of the manufacturing chain and being able to distil this in a format that presents information against pre-set indicators and historical trend data.
That all sounds great but let's have some specifics!
Aim to present the following and little else on your SCM dashboard:
- Production on Time and Complete
- Supplier Fulfillment on Time and Complete
- Perfect Order Fulfillment
- Perfect Order Lead Time
- Expedited Order Fulfillment
- Customer Return Rate
- Cash to Cash Cycle Time
These are seven KPI's that will provide your supply chain management team with the information that will provide them with over 80% of the indicators of SC performance. Look to provide more than this and you are heading into information replication and data overload resulting in management delays in exercising decision making power and confusion over what the metrics are actually trying to tell you.
"Less is more" or TMI (Too Much Information) are two of the comments that you will hear from SCM experts who truly understand the components of the business supply chain from procurement, processing and through to customer delivery. In the very recent few years, with the introduction of RFID technology that allows tagging of containers, pallets and individual shipment items replete with a mass of raw data on content, models, color, specification, origination and so on , it is extremely tempting to dive in and start thinking that all this data that we are now routinely able to collect and collate can somehow be manipulated to provide SCM managers with even more information that will help them make better and more profitable decisions.
This is a short sighted approach and the reality does not match the theory that all of this information being put in front of an SCM management team is actually going to help them.
Following Pareto's Principle and focusing on the 20% of metrics that are actually telling you how 80% of SCM business performance is actually being generated does deliver better results.
The issue will become what are you going to use?
Concentrating on the basics will provide a far better SCM dashboard to equip managers to focus on the real drivers of the supply chain process. Remember we are looking to focus on cost reduction, better supplier management, shorter delivery times or better on-time delivery to customers, improving the efficiency of the manufacturing chain and being able to distil this in a format that presents information against pre-set indicators and historical trend data.
That all sounds great but let's have some specifics!
Aim to present the following and little else on your SCM dashboard:
- Production on Time and Complete
- Supplier Fulfillment on Time and Complete
- Perfect Order Fulfillment
- Perfect Order Lead Time
- Expedited Order Fulfillment
- Customer Return Rate
- Cash to Cash Cycle Time
These are seven KPI's that will provide your supply chain management team with the information that will provide them with over 80% of the indicators of SC performance. Look to provide more than this and you are heading into information replication and data overload resulting in management delays in exercising decision making power and confusion over what the metrics are actually trying to tell you.
Focus on Fast Ways to Accomplish 20 Times More
In identifying large opportunities to accomplish 20 times more, nth degree thinking is critical. Nth degree thinking requires you to take one element of your business environment and expand it to extremes . . . both much larger and much smaller than you can possibly imagine could occur. In picking 2,000 percent solution (any way of accomplishing 20 times more with the same, time, effort, and resources) opportunities, you also apply nth degree thinking. To do so you stretch the benefits that stakeholders could gain or lose to their limits.
Here's an example. Assume that a book publisher examines the following areas using the nth degree test for competitive and profit impact: cost of development; cost of production; duration of development; distribution availability in bookstores; amount of publicity; total of positive word-of-mouth comments; pleasure that readers get from the book; what percentage of readers like the book; and pricing. Notice that taking the number of positive word-of-mouth comments to the maximum would tend to overwhelm the other areas. Most publishers, however, don't put much attention in that area. A publisher that did could probably expect to create an overwhelming 2,000 percent solution for its books and its publishing performance.
Time is an important element in focusing your attention because benefits that arrive sooner are surer and more valuable than ones that take longer. Certainly, in choosing between creating a 2,000 percent solution that you can put in place over a few months and one that will require decades, most would choose to pursue first the faster one. An analysis of the present value of the cash flow benefits (discounting the future estimated benefits for inflation and uncertainty) would also validate that choice.
The publisher's most valuable benefit for increased sales is to generate unlimited amounts of positive word of mouth about its books.
Here are some of the possible solutions that the publisher might have identified that help improve other benefits:
-Publish books written by well-regarded celebrities with intriguing new information.
-Authors dedicate royalties to popular charities which will promote the books.
-Companies donate books as part of their product promotions due to the subject matter.
-Tie the book launch timing to a series of related broad-scale media events.
-Create an appealing corporate-sponsored contest related to the theme of the book.
-Provide newsworthy disclosures daily related to the book.
Next, the publisher needs to think about how long it would take to pursue each of these potential solutions. Clearly, there are only a limited number of celebrities who could have the right kind of appeal and would be willing to tailor their books to this purpose and donate their proceeds to charity. One might work on attracting those celebrities forever, and still not gather a single one. Some other approach for adding word-of-mouth interest is needed. This conclusion is particularly true for a small publisher whose market strengths might not be considered to be valuable enough to attract such celebrities.
Many celebrities are already associated with corporations through endorsement contracts and charities through voluntary activities. Having identified which celebrities the publisher wants to pursue, the next step is to research their commitments and connections to corporations and charities. Then, the publisher could see which celebrities could be approached through these intermediaries. The best starting point would probably be a charity. In some cases, the publisher might find that the corporate sponsor and the charity also have a tie. That combination could be even better.
As the publisher, you next need to develop a book concept that fits with all of these circumstances. Then, you should document why the book concept will be very valuable to the celebrity, the charity and the corporate sponsors.
How long would it take to pursue these activities? Not very long if you know what needs to be done, but most publishers don't have the skills in house to advance such an approach into reality. Currently, publishers wait for authors' agents to approach them with such packages . . . and then the acquisition editors choose among the proposals for the most valuable book concepts.
What is required is not unlike what theatrical, motion picture and television producers do. An important step might be to develop a partnership with such a producing organization that could participate in providing some of the other entertainment that could be built around the concept. Our publisher needs to focus attention on either working with people who have these skills and contacts or hiring such people.
No one should build a possible route towards a 2,000 percent solution around one potential set of allies. So our publisher needs to explore associations with other potentially enabling parties, like the celebrities' agents, corporations and nonprofit organizations that sponsor popular events, and entertainment impresarios. Another approach might involve partnering with foundations that wanted to help pioneer this type of nonprofit fund-raising. Such foundations could use their own contacts to help put the necessary talent and skills together.
The publisher should continue to focus on potential solutions until several paths have been found that can be fairly quickly explored and implemented. At that point the publisher will be ready to begin developing a 2,000 percent solution using the materials and questions in the next eight chapters of this workbook.
If the publisher cannot find several paths for word-of-mouth increases that seem to have high potential, the publisher would be wise to shift focus. That publisher should look instead for rapid paths for pursuing some of the other benefits that the nth degree analysis identified as being particularly valuable, such as pleasure that readers get from the book and, how many readers like the book which can help build positive word-of-mouth-based interest.
Here's an example. Assume that a book publisher examines the following areas using the nth degree test for competitive and profit impact: cost of development; cost of production; duration of development; distribution availability in bookstores; amount of publicity; total of positive word-of-mouth comments; pleasure that readers get from the book; what percentage of readers like the book; and pricing. Notice that taking the number of positive word-of-mouth comments to the maximum would tend to overwhelm the other areas. Most publishers, however, don't put much attention in that area. A publisher that did could probably expect to create an overwhelming 2,000 percent solution for its books and its publishing performance.
Time is an important element in focusing your attention because benefits that arrive sooner are surer and more valuable than ones that take longer. Certainly, in choosing between creating a 2,000 percent solution that you can put in place over a few months and one that will require decades, most would choose to pursue first the faster one. An analysis of the present value of the cash flow benefits (discounting the future estimated benefits for inflation and uncertainty) would also validate that choice.
The publisher's most valuable benefit for increased sales is to generate unlimited amounts of positive word of mouth about its books.
Here are some of the possible solutions that the publisher might have identified that help improve other benefits:
-Publish books written by well-regarded celebrities with intriguing new information.
-Authors dedicate royalties to popular charities which will promote the books.
-Companies donate books as part of their product promotions due to the subject matter.
-Tie the book launch timing to a series of related broad-scale media events.
-Create an appealing corporate-sponsored contest related to the theme of the book.
-Provide newsworthy disclosures daily related to the book.
Next, the publisher needs to think about how long it would take to pursue each of these potential solutions. Clearly, there are only a limited number of celebrities who could have the right kind of appeal and would be willing to tailor their books to this purpose and donate their proceeds to charity. One might work on attracting those celebrities forever, and still not gather a single one. Some other approach for adding word-of-mouth interest is needed. This conclusion is particularly true for a small publisher whose market strengths might not be considered to be valuable enough to attract such celebrities.
Many celebrities are already associated with corporations through endorsement contracts and charities through voluntary activities. Having identified which celebrities the publisher wants to pursue, the next step is to research their commitments and connections to corporations and charities. Then, the publisher could see which celebrities could be approached through these intermediaries. The best starting point would probably be a charity. In some cases, the publisher might find that the corporate sponsor and the charity also have a tie. That combination could be even better.
As the publisher, you next need to develop a book concept that fits with all of these circumstances. Then, you should document why the book concept will be very valuable to the celebrity, the charity and the corporate sponsors.
How long would it take to pursue these activities? Not very long if you know what needs to be done, but most publishers don't have the skills in house to advance such an approach into reality. Currently, publishers wait for authors' agents to approach them with such packages . . . and then the acquisition editors choose among the proposals for the most valuable book concepts.
What is required is not unlike what theatrical, motion picture and television producers do. An important step might be to develop a partnership with such a producing organization that could participate in providing some of the other entertainment that could be built around the concept. Our publisher needs to focus attention on either working with people who have these skills and contacts or hiring such people.
No one should build a possible route towards a 2,000 percent solution around one potential set of allies. So our publisher needs to explore associations with other potentially enabling parties, like the celebrities' agents, corporations and nonprofit organizations that sponsor popular events, and entertainment impresarios. Another approach might involve partnering with foundations that wanted to help pioneer this type of nonprofit fund-raising. Such foundations could use their own contacts to help put the necessary talent and skills together.
The publisher should continue to focus on potential solutions until several paths have been found that can be fairly quickly explored and implemented. At that point the publisher will be ready to begin developing a 2,000 percent solution using the materials and questions in the next eight chapters of this workbook.
If the publisher cannot find several paths for word-of-mouth increases that seem to have high potential, the publisher would be wise to shift focus. That publisher should look instead for rapid paths for pursuing some of the other benefits that the nth degree analysis identified as being particularly valuable, such as pleasure that readers get from the book and, how many readers like the book which can help build positive word-of-mouth-based interest.
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