Article Presented by:
Copyright © 2010 V Rory Jones and Stephen Malloy
How do you get a consumer to take action? Of course, you make it in their overwhelming interest to act, and you enable them with guidance and a few tools. Clearly, if you have an outcome in mind, it is critical to understand what is actually in the consumer's best interest, and to arrange motivators to deliver the desired action.
Such thinking - seeing things from the consumer's viewpoint - needs to be applied to the way policy-makers are approaching the California residential energy market, where much effort is going into initiatives that curtail energy demand from utilities like PG&E and SoCalEd. While good progress has been made in the quest to unlock wide-scale residential energy demand reductions, California is still a few of steps short of its goals. The game-plan for these last steps can be borrowed from the private sector, where they have been tested in countless markets.
Get To Know What Will Drive Action In Each Customer Group
Of course, electricity and gas price increases over the last 6 years has received the attention of many consumers, particularly the heaviest energy consuming ones, with bills doubling in many cases since 2004. However, others have seen little change, and to get the most of our consumption reduction investments and efforts we need to distinguish between consumers.
( Related Image #1: http://bit.ly/bdvcVU )
First, it is key to recognize that the top 20% of residential energy consumers (in Sonoma county, these folks have monthly bills exceeding $300) consume about 40% of all energy and, conversely, the lowest 50% of energy consumers (with monthly bills under $100 in Sonoma) consume barely 30% of energy; see the chart to the right. This presents an amazing opportunity; pursuing relatively few consumers is likely to deliver disproportionate results. A prioritized return-on-effort approach is warranted. The good news is that it's actually easier to get heavy energy consumers to undertake demand reduction measures:
i. Efficiency matters more to heavy energy consumers - as they use a lot of fuel. If one spends $1,000 on home heating fuel annually, a 30% efficiency improvement is worth $300 per year. A $3,000 replacement high-efficiency heater will be paid-off over its 20 year life. But, if you spend only $100 in heating annually, $30 in savings will not support any efficiency investment.
ii. Heavy energy consumers pay much higher energy prices (especially for electricity, where the marginal price is four times that for low energy consumers; $0.40/kWh versus $0.11/kWh). The result is even mid-energy consumers are thrust into the high bill amounts of (i.) above.
iii. Heavy energy consumers have a clear economic motivation to undertake efficiency investments, as they are usually homeowners. Low energy consumers tend to be renters, and rely on landlords to upgrade energy system efficiencies (alas, landlords rarely pay utility bills).
Money Is What Really Motivates Action
Nothing motivates consumers as much as their pocketbooks. Most citizens want to operate environmentally responsibly, but if action requires a net cash outflow there is always hesitation - almost always resulting in inaction (especially true when investment needs are in thousands of dollars; the case for most non-trivial demand reduction measures).
( Related Image #2: http://bit.ly/clFKdo )
The chart to the left summarizes a study of nearly 200 households in Sonoma County. It shows the average 20-year benefit of undertaking only economically positive measures for the three segments of households; low consumers with monthly bills under $100, mid consumers paying between $100 and $300, and heavy consumers paying over $300. An economically positive demand reduction measure is any retrofit, behavior change or energy generation that will pay for itself after all costs (equipment, installation and 7% financing, and assuming fuel prices increase at historic rates). This detailed study has a clear message; low energy consumers have little to gain investing to reduce demand, while heavy energy consumers have much to gain; more than enough to drive action - enough to pay for a college education!
So, what magnitude of reductions in energy demand is associated with such enormous economic benefits? The potential is staggering. With the proper guidance, using combinations of efficiency retrofits, minor behavioral changes and solar generation, heavy consumers would profitably reduce electricity consumption over 60%, and gas nearly 30% (see discussion below).
On the other hand, the opportunity to profitably reduce demand among the low energy consumers is very limited, owing to the lower prices enjoyed today by this customer segment, and their lower fuel throughput.
( Related Graph #1: http://bit.ly/agzX3Q )
So what does California have to gain by embarking on a program to get consumers to act in their own economic interest? Again, the opportunity is staggering. Projecting this study's Sonoma County figures to the rest of the state (notably, Sonoma's potential is likely lower than other counties in California, owing to its mild coastal climate), the back-of-the-envelope calculations in the table above shows 35 billion kWhs are at stake, along with 1.5 billion therms, every year!
Want Success? Attack Each Customer Type Differently - Use What Works!
The nature of the demand reduction opportunity is very different between consumer segments, as illustrated in the charts below for typical electricity and gas customers in each segment.
( Related Image #3: http://bit.ly/cj00Ir )
( Related Image #4: http://bit.ly/9aTnzo )
The huge differences in the nature of these opportunities demand a different approach, tailored to the needs of each customer segment:
( Related Graph #2: http://bit.ly/b8RF8P )
Low / mid energy consumers: The economic viability of demand reduction investments by low / mid energy customers is limited. Professionally installed solar electricity generation is never worthwhile, and much the same is true for most other measures. The majority of the opportunity in electricity demand is, by far, only achievable by light bulb replacement and a few behavior changes. With this in mind, the most efficient approach for the state to drive demand reduction in this segment is, unquestionably, a broad-based educational media campaign focused on 3 or 4 simple messages; the positive economics of light bulb replacement and behavioral tips.
Heavy energy consumers: These 2.8 million California households offer an opportunity to reduce the state's utility-supplied energy by 23 billion kWh and 720 million therms annually -and each will receive a huge economic gain in the process. The state just needs to tip the cart slightly and allow self-interest to take over.
The Sonoma county study found that homeowners rarely take action because they have no idea what investments will pay-off, and are most afraid of losing money in erroneous investments.
They need help figuring out what to do, but cannot find anyone able give them an action plan that is assured to reduce their energy-related spending. The only potential source of help is the energy audit industry, but they are currently going down a path focused on calculating HERS scores for homes - not in delivering optimized plans for homeowner action. Moreover, even if they started to come up with such plans, homeowners would still not take action as they are so risk-averse they refuse to spend anything on energy audits in the first place.
There Is An Ultra-Low Cost Solution...
The solution is quite simple, and was successfully used in the Sonoma county study. There are two parts to it: First, software is needed to automate the highly complex energy-economics optimization calculations needed for each unique home; only with such automation can several person-months of analysis be whittled down to a millisecond. Second, California's energy-audit system, currently oriented around giving structures a "HERS" energy score (a number seemingly dreamed up by engineers), needs to be re-focused on the consumer's viewpoint of home energy-economics1, and simplified to actions that drive down spending.
Both the software and structure energy-economics diagnostic were developed and used in the Sonoma county study (see yoUtilBill.com), such that after 1 person-hour of effort, each home in the study received a custom action-plan that delivered up gains for the homeowners concerned up to $650,000 in 20-year savings (again, net of all costs, including capital/financing costs)!
If all the heavy energy consuming households in California undertook such a diagnostic, paid for by the state to ensure widespread coverage, the cost to the state would be $250 million. Now, if only 50% of those households undertook the prescribed action plans, the savings would be 11.5 billion kWh and 360 million therms each year. That's 2 cents per kWh saved and 80 cents per therm saved annually - a cost far lower than any initiative the State of California is currently paying for, and one that is likely to deliver wide-scale results very quickly, since consumers act in their own interest.
About the Author:
New Energy Investment Partners is on the web at: http://www.neipartners.com/
V Rory Jones: Partner, New Energy Investment Partners LLC
Rory has operated as an advisor to leaders in large- and mid-cap businesses for over 20 years, and has helped create billions in cash flow and business value. Rory was Partner at PricewaterhouseCoopers Strategy Consulting, where he led the US Shareholder Value advisory practice. Rory co-founded Business Value Associates; consultants specializing in value growth, and has served leaders in today's most successful businesses; Diageo, Encyclopedia Britannica, HP, Liberty, IBM and others. Rory earned his MBA from the University of Chicago, and his BSc from London's City University. He is widely published and speaks regularly, and is quoted regularly in the media. Rory also sits on several boards, including the Association for Strategic Planning. His book, Boosting Cash Flow and Shareholder Value is published by John Wiley and Sons.
Steve Malloy: Partner, New Energy Investment Partners LLC
Steve's 20 year career spans strategy consulting and leadership at technology companies. Immediately prior to NEIP Steve was a serial entrepreneur, founding and leading several technology-driven ventures (including Cachet Solutions, a Financial Services software play, and several renewable energy investments). Steve was a Principal in PricewaterhouseCoopers Strategy Consulting, where he advised leaders at Ameritech, Motorola, Samsung and elsewhere. Steve earned his MBA from the University of Chicago, and his BA from Carleton College. Steve serves on several boards, and speaks and writes on renewable energy market issues.
Visit V Rory Jones and Stephen Malloy's website.
Thursday, August 5, 2010
Wednesday, August 4, 2010
Understanding Your 401(k), IRA and Other Pre-Tax Investments
Article Presented by:
Copyright © 2010 Irene A. Majchrzak
Yes, the values of various stock are falling every day and the media can not make up its collective mind if we are coming out of the recession or if there is still a long road ahead. What does all of this mean to you, the average investor. Well, if you are still working and contributing to your pre-tax 401(k)'s, 403(b)'s, or IRA savings your strategies for salvaging your retirement will include reviewing all of the investment options found in your 401(k), etc.
Many of the pitfalls within an employer based pre-tax plan begin with the investment choices placed in the plan. The lack of experience in setting up 401(k)'s, etc. caused the corporations to rely upon their need to develop "something" for their employees to invest in on a pre-tax basis.
Pensions were being dissolved, rolled into other pre-tax accounts for the employees and eventually led to the current investment decisions you still may have in your 401(k); either too few or too many mutual fund choices, little differentiation between the funds of any one category and often very little real diversification of the portfolio.
The pre-tax mutual funds did not offer a mix of large, mid/small or international funds in either a growth, value or blend style. Often one mutual fund may contain the same stock corporation found in two or three other mutual funds within the same pre-tax plan. As your plan grew it was not an issue because all of the mutual funds were growing because of the same stock, but in a bear market the same stock flowing throughout all of your mutual funds could cause a major decrease in fund values.
Your responsibility begins by reading the descriptions of the asset choices within your particular plan. Besides a company stock purchase plan your options may include 5-10 mutual funds. You may have one or two of all of the following options; cash options, bond choices and asset classes in large, mid or small capitalization companies in either value, growth, or international stock companies.
Look for the diversification within your employer plan.
Basically, a mutual fund consists of a small percentage of multiple corporations within one asset class chosen by a fund manager to balance and support the companies inside the mutual fund. For example, if the fund manager purchases large capitalization companies like Coca cola, he might balance it with Pepsi products; purchase Mac Donald's and support the fund with a Burger King purchase. The fund may own a variety of different segmented companies as well, and may include purchases of health care corporations, oil companies and/or financial institutions.
Next, ask your investment company to send you a fact sheet which describes the mutual fund, explains how the companies are chosen inside the fund and the names of the top ten companies owned by the mutual fund. You will be interested to know how your mutual fund is constructed. Is the fund heavily invested in oil companies, banks, mortgage companies?
In the current economic situation you may want to discuss this mutual fund with your advisor.
Asset classes are cyclical and move from value to growth, and back. They also favor small cap, international, large cap or bonds at various times in the market environment. Risk and reward are the two major factors an investor needs to look at when considering his asset choices.
In the market failures of 2000 to 2003, value funds were often discounted as unfavorable to investors. The world was invested in Blue chip Growth. But value became the place to be for the next 4-5 years. Cash was also belittled as most investors felt that cash wasn't working if it was in the bank. Yet cash was seen to be an important commodity during that bear market as it is in today's.
The most important ideas to recognize is that the stock market has never been more global than it is today. Factors affecting our economy are having an effect on the whole world. So new strategies are important and understanding the economy and its effect on your investments is essential to the renewal of your savings. You need to be able to speak to your advisor and help him to realize that you are an active participant not a bystander in your account. You will want answers from him/her. So know your questions. Remember that you can change your investments in 6 months or a year from now as the stocks weather the storm.
Today, your risk may be less aggressive, you may want to put more money into cash, you may want your advisor to actively discuss dollar cost averaging your money into the market slower than your monthly contribution. Ask for suggestions and strategies. Ask your advisor to describe the market economy for growth or value investments. Ask him to show you fact sheets that describe the construction of a recommended mutual fund. Feel comfortable with the ideas.
Stock market issues affect investors differently. You will want to recognize that there are some issues that will not affect you at the same level that it may disrupt the savings of your friends over 65. What to do if you are over 65 and you are no longer saving into your investments? Preservation of your cost basis is key.
This market may start to come back soon but based on what happened in 2000, I would suggest that you may have 3-5 years of leveling and fluctuating markets. I would suggest talking with you advisor and moving into cash or bonds. Have him discuss the bond funds that he is recommending and find out how it is being affected specifically, in this market. Do your own research as well. Move into cash and dollar cost average your money back into the market as slowly, or quickly as you feel comfortable.
If you are invested in annuities you may still want to move into a cash fund within your annuity and then reinvest your cash slowly back into the investments within the annuity.
About the Author:
Irene A. Majchrzak helps people retire debt-free with a sense of well-being and the freedom to have the things they want. Get her free ebook, Debt Free to Retire, by going to http://debtfreetoretire.com/
Copyright © 2010 Irene A. Majchrzak
Yes, the values of various stock are falling every day and the media can not make up its collective mind if we are coming out of the recession or if there is still a long road ahead. What does all of this mean to you, the average investor. Well, if you are still working and contributing to your pre-tax 401(k)'s, 403(b)'s, or IRA savings your strategies for salvaging your retirement will include reviewing all of the investment options found in your 401(k), etc.
Many of the pitfalls within an employer based pre-tax plan begin with the investment choices placed in the plan. The lack of experience in setting up 401(k)'s, etc. caused the corporations to rely upon their need to develop "something" for their employees to invest in on a pre-tax basis.
Pensions were being dissolved, rolled into other pre-tax accounts for the employees and eventually led to the current investment decisions you still may have in your 401(k); either too few or too many mutual fund choices, little differentiation between the funds of any one category and often very little real diversification of the portfolio.
The pre-tax mutual funds did not offer a mix of large, mid/small or international funds in either a growth, value or blend style. Often one mutual fund may contain the same stock corporation found in two or three other mutual funds within the same pre-tax plan. As your plan grew it was not an issue because all of the mutual funds were growing because of the same stock, but in a bear market the same stock flowing throughout all of your mutual funds could cause a major decrease in fund values.
Your responsibility begins by reading the descriptions of the asset choices within your particular plan. Besides a company stock purchase plan your options may include 5-10 mutual funds. You may have one or two of all of the following options; cash options, bond choices and asset classes in large, mid or small capitalization companies in either value, growth, or international stock companies.
Look for the diversification within your employer plan.
Basically, a mutual fund consists of a small percentage of multiple corporations within one asset class chosen by a fund manager to balance and support the companies inside the mutual fund. For example, if the fund manager purchases large capitalization companies like Coca cola, he might balance it with Pepsi products; purchase Mac Donald's and support the fund with a Burger King purchase. The fund may own a variety of different segmented companies as well, and may include purchases of health care corporations, oil companies and/or financial institutions.
Next, ask your investment company to send you a fact sheet which describes the mutual fund, explains how the companies are chosen inside the fund and the names of the top ten companies owned by the mutual fund. You will be interested to know how your mutual fund is constructed. Is the fund heavily invested in oil companies, banks, mortgage companies?
In the current economic situation you may want to discuss this mutual fund with your advisor.
Asset classes are cyclical and move from value to growth, and back. They also favor small cap, international, large cap or bonds at various times in the market environment. Risk and reward are the two major factors an investor needs to look at when considering his asset choices.
In the market failures of 2000 to 2003, value funds were often discounted as unfavorable to investors. The world was invested in Blue chip Growth. But value became the place to be for the next 4-5 years. Cash was also belittled as most investors felt that cash wasn't working if it was in the bank. Yet cash was seen to be an important commodity during that bear market as it is in today's.
The most important ideas to recognize is that the stock market has never been more global than it is today. Factors affecting our economy are having an effect on the whole world. So new strategies are important and understanding the economy and its effect on your investments is essential to the renewal of your savings. You need to be able to speak to your advisor and help him to realize that you are an active participant not a bystander in your account. You will want answers from him/her. So know your questions. Remember that you can change your investments in 6 months or a year from now as the stocks weather the storm.
Today, your risk may be less aggressive, you may want to put more money into cash, you may want your advisor to actively discuss dollar cost averaging your money into the market slower than your monthly contribution. Ask for suggestions and strategies. Ask your advisor to describe the market economy for growth or value investments. Ask him to show you fact sheets that describe the construction of a recommended mutual fund. Feel comfortable with the ideas.
Stock market issues affect investors differently. You will want to recognize that there are some issues that will not affect you at the same level that it may disrupt the savings of your friends over 65. What to do if you are over 65 and you are no longer saving into your investments? Preservation of your cost basis is key.
This market may start to come back soon but based on what happened in 2000, I would suggest that you may have 3-5 years of leveling and fluctuating markets. I would suggest talking with you advisor and moving into cash or bonds. Have him discuss the bond funds that he is recommending and find out how it is being affected specifically, in this market. Do your own research as well. Move into cash and dollar cost average your money back into the market as slowly, or quickly as you feel comfortable.
If you are invested in annuities you may still want to move into a cash fund within your annuity and then reinvest your cash slowly back into the investments within the annuity.
About the Author:
Irene A. Majchrzak helps people retire debt-free with a sense of well-being and the freedom to have the things they want. Get her free ebook, Debt Free to Retire, by going to http://debtfreetoretire.com/
The Definition of Renewable Energy - Present and Future Outlooks
Article Presented by:
Copyright © 2010 M.S. Rochell
The definition of renewable energy is dependent on the term renewable. An energy source that naturally replenishes is considered renewable. Unlike fossil fuels which take millions of years to form, wind, rain, water and sunlight are self contained and naturally replenishing, thus renewable.
Many people think solar energy, the most popular form of renewable energy, is a new concept. The truth is solar panels were used as far back as the 1920s to heat water in lieu of more expensive electrical heating systems.
Renewable Energy Past to Present
When fossil fuels were unearthed, much of the previous solar energy use was abandoned for the cheaper, more reliable fossil fuels. As these fuels began to have an impact on the environment and their levels diminished, a resurgence of the renewable energy sources occurred.
Today, wind farms, solar electrical plants and solar thermal plants are used to power entire towns and cities.
Alternative energy communities are also popping up throughout the world with Canada being the first country to boast of an entire community based on solar energy. Technology is constantly changing and the future definition of renewable energy is also changing.
The Future of Renewable Energy
Everything that moves creates energy. This fact applies to wind, water and sunlight which are the most commonly used renewable energy sources. However, the movement of man is also being viewed as a source of renewable energy.
Speed bumps that harvest kinetic energy are one concept currently being tested by New Energy Technologies. The "bumps" are actually an inversion of the typical motion inhibitors. These flat panels sink slightly into the ground when a car passes over. The bump is created by the difference in height between the road and the lowered panel.
Under the panel, 2000 watts of instant energy is created for every passing car. With 1000 cars passing over the speed bump every day, 2,000,000 watts or 2000 kilowatts are produced every day.
Over the course of a month, that number jumps to 60,000 kilowatts. That is enough electricity to power 60 average homes for an entire month!
This type of kinetic energy harvesting is not limited to speed bumps. In Israel, roadways are being tested that collect small amounts of energy as cars pass over the special roadway surface.
The amount of energy is small, at an average of 400 kilowatts per kilometer (0.6 miles). While this does not seem like a lot of energy, if the entire United States interstate system were converted to kinetic energy harvesting material, the 75,000 km would produce 30,000,000 kilowatts of power. That is one very new and innovative definition of renewable energy!
The world is just beginning to see the potential kinetic energy has as a renewable source of electricity. Tokyo is installing flooring that harvests energy from daily subway visitors. Dance clubs are utilizing the energy created from movement on the floor to harvest energy.
Even asphalt is being considered as a prime material for harvesting thermal energy in desert climates where roadways can reach temperatures hot enough to fry an egg.
There are an abundant supply of new and innovative renewable energy solutions available to help us to transition our world to more sustainable and environmentally friendly solutions. Even today there are many new technologies that can help us to heat our homes, recharge our batteries and light our yards using clean, green energy sources.
About the Author:
M.S. Rochell is the editor of http://www.Go-Green-Solar-Energy.com/ which offers education and inspiration on the benefits of going green with solar energy, DIY solar power, and affordable solar energy solutions. Visit for more on the definition of renewable energy, and to receive our free Affordable Solar eBooks.
Read more of M.S. Rochell's articles.
Copyright © 2010 M.S. Rochell
The definition of renewable energy is dependent on the term renewable. An energy source that naturally replenishes is considered renewable. Unlike fossil fuels which take millions of years to form, wind, rain, water and sunlight are self contained and naturally replenishing, thus renewable.
Many people think solar energy, the most popular form of renewable energy, is a new concept. The truth is solar panels were used as far back as the 1920s to heat water in lieu of more expensive electrical heating systems.
Renewable Energy Past to Present
When fossil fuels were unearthed, much of the previous solar energy use was abandoned for the cheaper, more reliable fossil fuels. As these fuels began to have an impact on the environment and their levels diminished, a resurgence of the renewable energy sources occurred.
Today, wind farms, solar electrical plants and solar thermal plants are used to power entire towns and cities.
Alternative energy communities are also popping up throughout the world with Canada being the first country to boast of an entire community based on solar energy. Technology is constantly changing and the future definition of renewable energy is also changing.
The Future of Renewable Energy
Everything that moves creates energy. This fact applies to wind, water and sunlight which are the most commonly used renewable energy sources. However, the movement of man is also being viewed as a source of renewable energy.
Speed bumps that harvest kinetic energy are one concept currently being tested by New Energy Technologies. The "bumps" are actually an inversion of the typical motion inhibitors. These flat panels sink slightly into the ground when a car passes over. The bump is created by the difference in height between the road and the lowered panel.
Under the panel, 2000 watts of instant energy is created for every passing car. With 1000 cars passing over the speed bump every day, 2,000,000 watts or 2000 kilowatts are produced every day.
Over the course of a month, that number jumps to 60,000 kilowatts. That is enough electricity to power 60 average homes for an entire month!
This type of kinetic energy harvesting is not limited to speed bumps. In Israel, roadways are being tested that collect small amounts of energy as cars pass over the special roadway surface.
The amount of energy is small, at an average of 400 kilowatts per kilometer (0.6 miles). While this does not seem like a lot of energy, if the entire United States interstate system were converted to kinetic energy harvesting material, the 75,000 km would produce 30,000,000 kilowatts of power. That is one very new and innovative definition of renewable energy!
The world is just beginning to see the potential kinetic energy has as a renewable source of electricity. Tokyo is installing flooring that harvests energy from daily subway visitors. Dance clubs are utilizing the energy created from movement on the floor to harvest energy.
Even asphalt is being considered as a prime material for harvesting thermal energy in desert climates where roadways can reach temperatures hot enough to fry an egg.
There are an abundant supply of new and innovative renewable energy solutions available to help us to transition our world to more sustainable and environmentally friendly solutions. Even today there are many new technologies that can help us to heat our homes, recharge our batteries and light our yards using clean, green energy sources.
About the Author:
M.S. Rochell is the editor of http://www.Go-Green-Solar-Energy.com/ which offers education and inspiration on the benefits of going green with solar energy, DIY solar power, and affordable solar energy solutions. Visit for more on the definition of renewable energy, and to receive our free Affordable Solar eBooks.
Read more of M.S. Rochell's articles.
Marketing Tip: Why Most Network Marketers Fail
Article Presented by:
Copyright © 2010 Marty Bradfield
Network marketing is just one of many income opportunities available to the "make money online" community... Many people get really excited about the real income potential of the MLM and network marketing opportunities available online... The variety and real potential of the various Compensation Plans, otherwise known as Comp Plans, give the majority of opportunity seekers the wrong impression about how much they can truly earn with these systems...
Honestly, the problem for most new network marketers is not an unrealistic Comp Plan, but an exaggerated availability of training and support for new members...
In a perfect world, all network marketers would have ample training and support from those people in their uplines... Every person joining the network marketing opportunity would have several people, whom they could call or reach by e-mail, for personal mentoring and support...
In the real world however, people join a new opportunity with high expectations for training, mentorship, and support... Once joined, most new people soon discover that the anticipated training, mentorship and support is very limited or non-existent...
Here Is The Problem...
In most cases, when someone joins a new network marketing opportunity or MLM, the person who recruited them is just as clueless as they are...
As a result, one should expect that the person immediately above one's sponsor would have the knowledge and desire to step up to the plate to help everyone in his or her downline...
Unfortunately, in most cases, your sponsors' sponsor will be just as lost as you are...
What about your sponsors' sponsors' sponsor?
Far too often, one might have to track back seven or eight levels to find the one individual competent enough to teach everyone else how to be successful in network marketing...
The person who has the competence and confidence to train everyone else likely also has 200 or 300 people in his or her downline...
Each morning, this person is confronted with the question of who is serious about the opportunity and how to find them among the 200 or 300 people, who have signed up for the opportunity...
The real players in network marketing have a limited amount of time to help those people, who have shown a real interest in getting help and putting it to use...
Statistically, The Deck Is Stacked
The statistics associated with the network marketing industry are dismal at best... Less than 3% of all network marketers will ever make a living at network marketing... That means that 97% of all network marketers will fail...
The real players in the network marketing industry have an uphill climb to real monetary success...
Each day, most of those folks in the 3% wonder if they are missing some real potential in their network marketing downline...
They wonder whether there is a jewel in their downline that they are overlooking...
Generally, the gung-ho will try to reach out to everyone in their downline on a regular basis... Over time, people tend to lose some of their early momentum, because so many people have disappeared even when support was offered...
As a result, the big MLM and network marketing players will wait to see if a new sign-up bubbles to the top... They wait to see who among their downline is making real progress in growing their own downline or selling products... Once their production reports indicate a committed individual in their downline, then they will know who to contact for extra mentoring...
With a 97% failure rate, most people will wait until they find the person who is truly committed to his or her success, before they pick up the phone and reach out to this new person...
The Missing Ingredient For Success
I am not going to knock any specific company or individual...
Instead, I will be speaking only in generalities...
Over the years, I have looked at the training materials offered to MLMers and network marketers upon sign-up...
And I break out into song...
Mickey Mouse... Mickey Mouse... M-I-C-K-E-Y M-O-U-S-E...
It is no wonder why 97% of all MLMers and network marketers fail!!!
I have an advantage... I have been marketing products and services online for more than 10 years successfully...
I have another advantage, which most people would consider a disadvantage...
That second advantage is that I failed miserably for my first 3-1/2 years... It took me 3-1/2 years to make my first online sale... Most people would have given up long before I did... But, I am stubborn... If you ask my wife, she will tell you that I am stubborn to a fault...
That said, once I finally made my first sale, I quickly started making more sales...
During that first year of actually making money online, sales were hit-and-miss at best... It was during my second year that I finally made enough money online to make a living online...
But during that second year, I made another common mistake... I was selling a particular service that generated several hundred dollars per customer per month... Within eight weeks, I lost three of my primary customers... My income collapsed overnight, dropping nearly 75%...
Mind you, I did not lose that business because I was doing a bad job... In fact, all three terminated my services because I was delivering them too much business... I did my job too well... And unfortunately, I had to go get a job to make up for the lost income...
It sucked...
It took me another two years working online part-time to recover the confidence I needed to leave my job behind me again... I did not give up the job until I had generated double my previous online income and that money had been consistent for 12 months...
My point in sharing this story is to let you know why I consider most MLM and network marketing training materials to be rather Mickey Mouse...
When I read most of those manuals, I am struck with the idea that they are teaching the kinds of stuff that I had been doing BEFORE I started making money online...
The missing ingredient for success with MLM and network marketing is good-quality training materials, mentorship and support...
Imagine If You Can
But imagine if you can how you can do your part to ensure that you will absolutely join the 3% of those people who make a living online doing MLM or network marketing...
Imagine if you can how you can do your part to ensure that those people in your downline will be able to get the training, mentoring and support that they need to also be successful with MLM or network marketing...
Imagine if you can how successful you can become, if you crack the code and ensure that everyone who truly wishes to be successful with MLM or network marketing can become successful because they listen to you...
It is possible...
It all starts with excellent training, mentoring and support...
About the Author:
If you are struggling to make money online, or you are looking to take your network marketing or online business to the next level, you may find our Online Marketing Bootcamp to be one of the best investments of your time and money this year. We start with the basics and work our way up to the Cutting Edge Tactics used by professional online marketers. Learn more about our Online Marketing Bootcamp at: http://www.BestBusinessNetwork.com/OMB/ Written by: Marty Bradfield
Read more Articles written by Marty Bradfield.
Copyright © 2010 Marty Bradfield
Network marketing is just one of many income opportunities available to the "make money online" community... Many people get really excited about the real income potential of the MLM and network marketing opportunities available online... The variety and real potential of the various Compensation Plans, otherwise known as Comp Plans, give the majority of opportunity seekers the wrong impression about how much they can truly earn with these systems...
Honestly, the problem for most new network marketers is not an unrealistic Comp Plan, but an exaggerated availability of training and support for new members...
In a perfect world, all network marketers would have ample training and support from those people in their uplines... Every person joining the network marketing opportunity would have several people, whom they could call or reach by e-mail, for personal mentoring and support...
In the real world however, people join a new opportunity with high expectations for training, mentorship, and support... Once joined, most new people soon discover that the anticipated training, mentorship and support is very limited or non-existent...
Here Is The Problem...
In most cases, when someone joins a new network marketing opportunity or MLM, the person who recruited them is just as clueless as they are...
As a result, one should expect that the person immediately above one's sponsor would have the knowledge and desire to step up to the plate to help everyone in his or her downline...
Unfortunately, in most cases, your sponsors' sponsor will be just as lost as you are...
What about your sponsors' sponsors' sponsor?
Far too often, one might have to track back seven or eight levels to find the one individual competent enough to teach everyone else how to be successful in network marketing...
The person who has the competence and confidence to train everyone else likely also has 200 or 300 people in his or her downline...
Each morning, this person is confronted with the question of who is serious about the opportunity and how to find them among the 200 or 300 people, who have signed up for the opportunity...
The real players in network marketing have a limited amount of time to help those people, who have shown a real interest in getting help and putting it to use...
Statistically, The Deck Is Stacked
The statistics associated with the network marketing industry are dismal at best... Less than 3% of all network marketers will ever make a living at network marketing... That means that 97% of all network marketers will fail...
The real players in the network marketing industry have an uphill climb to real monetary success...
Each day, most of those folks in the 3% wonder if they are missing some real potential in their network marketing downline...
They wonder whether there is a jewel in their downline that they are overlooking...
Generally, the gung-ho will try to reach out to everyone in their downline on a regular basis... Over time, people tend to lose some of their early momentum, because so many people have disappeared even when support was offered...
As a result, the big MLM and network marketing players will wait to see if a new sign-up bubbles to the top... They wait to see who among their downline is making real progress in growing their own downline or selling products... Once their production reports indicate a committed individual in their downline, then they will know who to contact for extra mentoring...
With a 97% failure rate, most people will wait until they find the person who is truly committed to his or her success, before they pick up the phone and reach out to this new person...
The Missing Ingredient For Success
I am not going to knock any specific company or individual...
Instead, I will be speaking only in generalities...
Over the years, I have looked at the training materials offered to MLMers and network marketers upon sign-up...
And I break out into song...
Mickey Mouse... Mickey Mouse... M-I-C-K-E-Y M-O-U-S-E...
It is no wonder why 97% of all MLMers and network marketers fail!!!
I have an advantage... I have been marketing products and services online for more than 10 years successfully...
I have another advantage, which most people would consider a disadvantage...
That second advantage is that I failed miserably for my first 3-1/2 years... It took me 3-1/2 years to make my first online sale... Most people would have given up long before I did... But, I am stubborn... If you ask my wife, she will tell you that I am stubborn to a fault...
That said, once I finally made my first sale, I quickly started making more sales...
During that first year of actually making money online, sales were hit-and-miss at best... It was during my second year that I finally made enough money online to make a living online...
But during that second year, I made another common mistake... I was selling a particular service that generated several hundred dollars per customer per month... Within eight weeks, I lost three of my primary customers... My income collapsed overnight, dropping nearly 75%...
Mind you, I did not lose that business because I was doing a bad job... In fact, all three terminated my services because I was delivering them too much business... I did my job too well... And unfortunately, I had to go get a job to make up for the lost income...
It sucked...
It took me another two years working online part-time to recover the confidence I needed to leave my job behind me again... I did not give up the job until I had generated double my previous online income and that money had been consistent for 12 months...
My point in sharing this story is to let you know why I consider most MLM and network marketing training materials to be rather Mickey Mouse...
When I read most of those manuals, I am struck with the idea that they are teaching the kinds of stuff that I had been doing BEFORE I started making money online...
The missing ingredient for success with MLM and network marketing is good-quality training materials, mentorship and support...
Imagine If You Can
But imagine if you can how you can do your part to ensure that you will absolutely join the 3% of those people who make a living online doing MLM or network marketing...
Imagine if you can how you can do your part to ensure that those people in your downline will be able to get the training, mentoring and support that they need to also be successful with MLM or network marketing...
Imagine if you can how successful you can become, if you crack the code and ensure that everyone who truly wishes to be successful with MLM or network marketing can become successful because they listen to you...
It is possible...
It all starts with excellent training, mentoring and support...
About the Author:
If you are struggling to make money online, or you are looking to take your network marketing or online business to the next level, you may find our Online Marketing Bootcamp to be one of the best investments of your time and money this year. We start with the basics and work our way up to the Cutting Edge Tactics used by professional online marketers. Learn more about our Online Marketing Bootcamp at: http://www.BestBusinessNetwork.com/OMB/ Written by: Marty Bradfield
Read more Articles written by Marty Bradfield.
Tuesday, August 3, 2010
Finding the Best Credit Card Applications
Article Presented by:
Copyright © 2010 Jeffrey Weber
Online credit card applications can be confusing. That's the way the banks want them. When you search for a credit card, you'll likely come across credit cards that advertise long 0 percent interest rates and low long term interest rates. However, when you get to the credit card application fine print, you may find that the offer you liked is not the best credit card for you.
How Long Does the 0 Percent Interest Rate Last
Many people seek out the longest 0 percent interest rates so they can save money with balance transfers or reduce interest expenses on new purchases. Unfortunately, not all 0 percent credit card offers are as generous as they appear.
Some credit card companies are straightforward about 0 percent deals; other companies advertise 0 percent rates for up to 15 months, but only give that rate to some applicants. When you are examining credit card applications, be sure to check the fine print to see if the 0 percent rate is the same for all applicants. If it is not, you might be able to find a better credit card.
How Low Will the Interest Rate Be
Most credit cards advertise interest rates that are "as low as" a certain percent. When you dig deep in the fine print, you will likely find that the credit card you are thinking about offers multiple interest rates, based on a review of your credit. A few companies do offer a single rate to all approved applicants. These are the best type of low interest credit card offers.
How Much Will I Earn in Rewards
If you are not seeking a 0 percent or low interest credit card, there's a good chance you're looking for a credit card with a good rewards program. Some credit card companies offer very straightforward rewards: you earn exactly what is offered. Other credit card companies try to entice applicants with free airline miles or points. However, these credit cards often have annual fees, so be sure to inspect the fee section of the credit card application.
Final Thoughts
Before you pull the trigger on an online credit card application, be sure to review the fine print carefully. Credit card companies advertise enticing 0 percent and low long term interest rates, but not every applicant can qualify. The same is true with rewards credit cards. Some deals are good; others are too good to be true.
About the Author:
Jeffrey Weber is the editor of http://www.cardwisdom.com/ and an active personal finance blogger. You can learn more about credit card applications and apply for 0-percent credit cards at http://www.cardwisdom.com/best-credit-card-applications.php
Copyright © 2010 Jeffrey Weber
Online credit card applications can be confusing. That's the way the banks want them. When you search for a credit card, you'll likely come across credit cards that advertise long 0 percent interest rates and low long term interest rates. However, when you get to the credit card application fine print, you may find that the offer you liked is not the best credit card for you.
How Long Does the 0 Percent Interest Rate Last
Many people seek out the longest 0 percent interest rates so they can save money with balance transfers or reduce interest expenses on new purchases. Unfortunately, not all 0 percent credit card offers are as generous as they appear.
Some credit card companies are straightforward about 0 percent deals; other companies advertise 0 percent rates for up to 15 months, but only give that rate to some applicants. When you are examining credit card applications, be sure to check the fine print to see if the 0 percent rate is the same for all applicants. If it is not, you might be able to find a better credit card.
How Low Will the Interest Rate Be
Most credit cards advertise interest rates that are "as low as" a certain percent. When you dig deep in the fine print, you will likely find that the credit card you are thinking about offers multiple interest rates, based on a review of your credit. A few companies do offer a single rate to all approved applicants. These are the best type of low interest credit card offers.
How Much Will I Earn in Rewards
If you are not seeking a 0 percent or low interest credit card, there's a good chance you're looking for a credit card with a good rewards program. Some credit card companies offer very straightforward rewards: you earn exactly what is offered. Other credit card companies try to entice applicants with free airline miles or points. However, these credit cards often have annual fees, so be sure to inspect the fee section of the credit card application.
Final Thoughts
Before you pull the trigger on an online credit card application, be sure to review the fine print carefully. Credit card companies advertise enticing 0 percent and low long term interest rates, but not every applicant can qualify. The same is true with rewards credit cards. Some deals are good; others are too good to be true.
About the Author:
Jeffrey Weber is the editor of http://www.cardwisdom.com/ and an active personal finance blogger. You can learn more about credit card applications and apply for 0-percent credit cards at http://www.cardwisdom.com/best-credit-card-applications.php
Marketing Tip: Success Relies Upon The Relationships You Create
Article Presented by:
Copyright © 2010 Marty Bradfield
There is one factor above all others that will determine your ability to be successful on the Internet... That's one factor is your ability to create, develop, and maintain good relationships with other people...
Not A People Person?
Don't worry if you are not a people person... There are a wide variety of moneymaking opportunities available to the person who seeks to make money online...
If you are not a people person, you can get by with selling products and driving traffic to your website through a variety of resources, primarily paid traffic and organic search rankings...
It should go without saying that if you are not a people person, you probably should avoid offering services to other people... And if you do not know it already, it should be said that if you are not a people person, then you should probably avoid getting involved in MLM or network marketing...
To Be Fair...
My wife reliably tells me that one of these days, I am going to get myself in trouble, because I do have a tendency to tell people exactly the way things are...
Personally, I believe that it is much more fair to tell someone the truth, rather than to tell them what they want to hear... I believe that if I try to temper the truth, to make it more palatable to the person hearing it, then I risk doing them more harm than good...
If you are not a people person, then you should strive to avoid any type of online business that could potentially require you to communicate with other people...
You Can Overcome All Challenges... If You Set Your Mind To It...
To be honest, I did not start adulthood as a people person... But, I had heard when I was a younger man that the people in this world who make the most money are typically involved in some type of sales...
I made the commitment to myself as a 20-something that I would overcome my shyness and general aversion to meeting new people...
I am still somewhat shy and a room full of people that I do not know... However, I have overcome my general fear of meeting new people... It took me nearly 10 years of on-the-job, person-to-person contact on a daily basis to help me overcome the worst of my shyness...
I have discovered that I truly enjoy standing in front of a room full of strangers, who have come to hear why have to say... My wife tells me that she believes it is my ego needing to feel appreciated...
I tell her when she says that, tongue-in-cheek, that if she would appreciate me more at home, I would not have to get my satisfaction from strangers...
Before the Internet, I had gained a certain level of comfort speaking to strangers... When you are doing face-to-face sales in a retail environment, you have to overcome your fears of rejection and talking to strangers...
After nearly a decade of retail sales, I've made my mark on the Internet... When I started my first online service, I shared my phone number on my website... As a result, people would actually call me on the phone to ask specific questions, prior to purchase...
Through experience and repetition, I was able to attain a confidence equal to my competence...
10 years ago, I would have been hard-pressed to do any event, seminar, tele-seminar, webinar, recording, or interview for anyone who asked me to do so... Yet, I have done all of the above in the last five years...
Five years ago, I did my first tele-seminar in the online marketplace... I had a lot of fun, and I had so much to share that we exceeded the allotted time period for the presentation...
The Money Is In The Relationship
With experience, you will find confidence in what you say to others...
The most important first step to finding success in an online service business or the MLM and network marketing industries is to be willing to talk to strangers and to actively work to build a relationship with them...
If you are unwilling to create, develop and maintain good relationships with other people, you will never get the opportunity to develop a successful service or network marketing business...
First comes the willingness to talk to other people, to develop those relationships, and then with experience, your words will resonate confidence -- the confidence that allows other people to believe in you...
Eventually, you will discover as I have done that when other people have confidence in you, your customer base will grow and your income will grow along with it...
Measuring The Depth Of The Relationship
You may be surprised to hear someone tell you this, but the magic of the relationship reaches well beyond the actual business transactions... People, with whom you do business, want to know you as a person and as an individual... They want to know who you are and why they should like you...
When you remember personal conversations in the future, your customer notices that you cared enough about them to remember what they told you... When your customers or fellow marketers realize that you care about them as a person, as an individual, your relationship with them is strengthened...
Think about this...
Chances are that you go to the same barber shop month after month after month... Chances are that you shop the same grocery store every single month... Chances are that your children have been going to the same school for a number of years...
So, what can you tell me about your barber? What can you tell me about the people who work at your favorite grocery store? What can you tell me about the personal lives of the people who teach your children and care for them while they are Way from home?
Interestingly, you probably drew a blank as I asked you each of the previous three questions...
Now, tell me about the personal life of your mother, your sister, your brother, your best friend...
That is a much easier question to answer, isn't it?
What is the difference?
The difference is that you have an honest-to-goodness relationship with your mother, sister, brother and your best friend...
Unless you are a truly exceptional person, you probably don't have an actual relationship with the person who cuts your hair... You might know his or her name, and you might know whether he or she is married and has children, but it is doubtful that you know what he or she does for fun, what their goals and aspirations are, or what their general outlook on life may be...
Where your mother, sister, brother, and your best friend are concerned, you have a real relationship with them...
But, when you're talking about the people you know in your daily life, most are truly nothing more than an acquaintance...
The Relationship Exists Beyond The Business At Hand
It is when you allow your customers and your fellow marketers a glimpse into your personal life that you begin to develop that relationship that will bring you together and keep you together over months, years and decades...
In a service business, the relationship you develop with your clients will enable you to stand above your competitors in a way that your competitors will never match... When all other things are equal, customers do not care who provides the service, so long as the service gets done... However, when all other things are equal AND the customer has a real relationship with the service provider, there will never be a reason to shop around... Even for a better price...
In the network marketing industry, relationships are just as important... When all other things are equal, it will not matter who an individual marketer works with... However, when there is a relationship involved, people will go out of their way to protect the relationship that has helped bring them success...
Life happens, and sometimes people will disappear for a time, but old friends will never be forgotten... One day, the other person will think of you and the relationship that you had with them, and they will call you or e-mail you out of the blue to rekindle the relationship that once made them strong...
Your friends, online and off-line, will always be your friends...
The relationships that you create, develop, and maintain will continue to serve you well through thick and thin and generally forever...
So I ask you this again... What is the difference between an acquaintance and a friend?
A friend is someone whom you enjoy talking to, even if it has nothing to do with business...
About the Author:
If you are struggling to make money online, or you are looking to take your network marketing or online business to the next level, you may find our Online Marketing Bootcamp to be one of the best investments of your time and money this year. We start with the basics and work our way up to the Cutting Edge Tactics used by professional online marketers. Learn more about our Online Marketing Bootcamp at: http://www.BestBusinessNetwork.com/OMB/ Written by: Marty Bradfield
Read more of Marty Bradfield's articles.
Copyright © 2010 Marty Bradfield
There is one factor above all others that will determine your ability to be successful on the Internet... That's one factor is your ability to create, develop, and maintain good relationships with other people...
Not A People Person?
Don't worry if you are not a people person... There are a wide variety of moneymaking opportunities available to the person who seeks to make money online...
If you are not a people person, you can get by with selling products and driving traffic to your website through a variety of resources, primarily paid traffic and organic search rankings...
It should go without saying that if you are not a people person, you probably should avoid offering services to other people... And if you do not know it already, it should be said that if you are not a people person, then you should probably avoid getting involved in MLM or network marketing...
To Be Fair...
My wife reliably tells me that one of these days, I am going to get myself in trouble, because I do have a tendency to tell people exactly the way things are...
Personally, I believe that it is much more fair to tell someone the truth, rather than to tell them what they want to hear... I believe that if I try to temper the truth, to make it more palatable to the person hearing it, then I risk doing them more harm than good...
If you are not a people person, then you should strive to avoid any type of online business that could potentially require you to communicate with other people...
You Can Overcome All Challenges... If You Set Your Mind To It...
To be honest, I did not start adulthood as a people person... But, I had heard when I was a younger man that the people in this world who make the most money are typically involved in some type of sales...
I made the commitment to myself as a 20-something that I would overcome my shyness and general aversion to meeting new people...
I am still somewhat shy and a room full of people that I do not know... However, I have overcome my general fear of meeting new people... It took me nearly 10 years of on-the-job, person-to-person contact on a daily basis to help me overcome the worst of my shyness...
I have discovered that I truly enjoy standing in front of a room full of strangers, who have come to hear why have to say... My wife tells me that she believes it is my ego needing to feel appreciated...
I tell her when she says that, tongue-in-cheek, that if she would appreciate me more at home, I would not have to get my satisfaction from strangers...
Before the Internet, I had gained a certain level of comfort speaking to strangers... When you are doing face-to-face sales in a retail environment, you have to overcome your fears of rejection and talking to strangers...
After nearly a decade of retail sales, I've made my mark on the Internet... When I started my first online service, I shared my phone number on my website... As a result, people would actually call me on the phone to ask specific questions, prior to purchase...
Through experience and repetition, I was able to attain a confidence equal to my competence...
10 years ago, I would have been hard-pressed to do any event, seminar, tele-seminar, webinar, recording, or interview for anyone who asked me to do so... Yet, I have done all of the above in the last five years...
Five years ago, I did my first tele-seminar in the online marketplace... I had a lot of fun, and I had so much to share that we exceeded the allotted time period for the presentation...
The Money Is In The Relationship
With experience, you will find confidence in what you say to others...
The most important first step to finding success in an online service business or the MLM and network marketing industries is to be willing to talk to strangers and to actively work to build a relationship with them...
If you are unwilling to create, develop and maintain good relationships with other people, you will never get the opportunity to develop a successful service or network marketing business...
First comes the willingness to talk to other people, to develop those relationships, and then with experience, your words will resonate confidence -- the confidence that allows other people to believe in you...
Eventually, you will discover as I have done that when other people have confidence in you, your customer base will grow and your income will grow along with it...
Measuring The Depth Of The Relationship
You may be surprised to hear someone tell you this, but the magic of the relationship reaches well beyond the actual business transactions... People, with whom you do business, want to know you as a person and as an individual... They want to know who you are and why they should like you...
When you remember personal conversations in the future, your customer notices that you cared enough about them to remember what they told you... When your customers or fellow marketers realize that you care about them as a person, as an individual, your relationship with them is strengthened...
Think about this...
Chances are that you go to the same barber shop month after month after month... Chances are that you shop the same grocery store every single month... Chances are that your children have been going to the same school for a number of years...
So, what can you tell me about your barber? What can you tell me about the people who work at your favorite grocery store? What can you tell me about the personal lives of the people who teach your children and care for them while they are Way from home?
Interestingly, you probably drew a blank as I asked you each of the previous three questions...
Now, tell me about the personal life of your mother, your sister, your brother, your best friend...
That is a much easier question to answer, isn't it?
What is the difference?
The difference is that you have an honest-to-goodness relationship with your mother, sister, brother and your best friend...
Unless you are a truly exceptional person, you probably don't have an actual relationship with the person who cuts your hair... You might know his or her name, and you might know whether he or she is married and has children, but it is doubtful that you know what he or she does for fun, what their goals and aspirations are, or what their general outlook on life may be...
Where your mother, sister, brother, and your best friend are concerned, you have a real relationship with them...
But, when you're talking about the people you know in your daily life, most are truly nothing more than an acquaintance...
The Relationship Exists Beyond The Business At Hand
It is when you allow your customers and your fellow marketers a glimpse into your personal life that you begin to develop that relationship that will bring you together and keep you together over months, years and decades...
In a service business, the relationship you develop with your clients will enable you to stand above your competitors in a way that your competitors will never match... When all other things are equal, customers do not care who provides the service, so long as the service gets done... However, when all other things are equal AND the customer has a real relationship with the service provider, there will never be a reason to shop around... Even for a better price...
In the network marketing industry, relationships are just as important... When all other things are equal, it will not matter who an individual marketer works with... However, when there is a relationship involved, people will go out of their way to protect the relationship that has helped bring them success...
Life happens, and sometimes people will disappear for a time, but old friends will never be forgotten... One day, the other person will think of you and the relationship that you had with them, and they will call you or e-mail you out of the blue to rekindle the relationship that once made them strong...
Your friends, online and off-line, will always be your friends...
The relationships that you create, develop, and maintain will continue to serve you well through thick and thin and generally forever...
So I ask you this again... What is the difference between an acquaintance and a friend?
A friend is someone whom you enjoy talking to, even if it has nothing to do with business...
About the Author:
If you are struggling to make money online, or you are looking to take your network marketing or online business to the next level, you may find our Online Marketing Bootcamp to be one of the best investments of your time and money this year. We start with the basics and work our way up to the Cutting Edge Tactics used by professional online marketers. Learn more about our Online Marketing Bootcamp at: http://www.BestBusinessNetwork.com/OMB/ Written by: Marty Bradfield
Read more of Marty Bradfield's articles.
Dealing with Uncertainty in Marketing
Article Presented by:
Copyright © 2010 Judy Murdoch
So often a business owner will say to me that they "hate" marketing.
If you are a small business owner who "hates" marketing or even feels a sense of uneasiness when you contemplate marketing for your business, this article is dedicated to you.
======================================
Why Business Owners H8 Marketing
======================================
Once you get past the "nameless dread" business owners feel about marketing, some interesting issues surface:
1. Marketing Just Isn't Their "Thing"
2. They're Not Really Sure What They Should Be Doing
3. They Wonder Whether Their Large Investment of Time, Effort, and Money Will Really Pay Off
If you hate marketing because it just isn't your thing, I'm not going to try talking you out of that. I believe we're best off playing to our strengths.
However, you'll need to find and pay someone else to do your marketing. If you can't or won't outsource marketing, seriously consider whether you want to own a business.
If you hate marketing because you're not really sure what you should be doing, rejoice because there's a lot of good support for learning and practicing marketing skills: books, classes, and coaches.
If you hate marketing because it feels so darn vague and risky...ah...read on.
There are things you can do to reduce that uncertainty and get more comfortable with risk as a natural component of the marketing process.
======================================
Risk is Inherent in Marketing
======================================
Prior to starting my business I spent more than a decade working for large consumer products companies. I worked in the research department and my job was to study customers so the people who were planning and producing products would maximize the chances that customers would buy.
Note I said "maximize the chances" rather than "make buying a sure thing."
Because even giant companies spending millions using customer research in their marketing decisions will never tell you marketing is a sure thing.
It's like the batting averages in baseball. No one, not the greatest hitter of all time ever hits every pitch.
Hitting one ball out of three is considered spectacular. Hitting one ball out of four is average.
This is very important to keep in mind: that in all your marketing efforts, you will rarely, if ever, get great results the first time you attempt to market your offer.
More often, you'll begin seeing real results on your 3rd or 4th go.
You can, however, improve your chances to succeed faster.
======================================
How to Improve Your Odds
======================================
The good news is, in fact, there are many, simple, inexpensive ways to improve your marketing and improve your chances of people responding.
#1 Numbers Matter
The more impersonal your marketing approach the the larger the number of people who need to see your offer. For email offers having 1% of your list purchase is normal.
If you are enrolling for a ten-person class and you have 200 people on your mailing list, you need to use other, more personal methods to fill your class.
Lesson: to improve the odds of internet marketing success, build your list.
#2 Make Improvement Your Objective; Not Perfection
Please oh please don't wait until your offer is perfect. If you've checked for typos, made certain that details are correct and the links work, get your offer out to people.
Lesson: It's not about hitting the first ball, or even the second ball, it's about showing up, seeing how people respond, and tweaking.
#3 Find Out What Worked and Didn't Work
Ask some of the people who received your offer:
Did they even see the offer to begin with
Did they know what the offer was for?
Were they interested in your offer?
Did they open and read your email
Did they click on the link and go to the place where they could get more information, sign up, etc.
And at each point, ask "how come" with the sincere intention to find out what didn't work.
The sincere intention bit is very important. If you're talking to someone who fits your "ideal customer" you don't want them to gloss over what didn't work. Tell them you want their input so you can be of service and help them and businesses like them.
And remember to thank them for their help.
Lesson: Ask for honest input, don't defend or explain, and listen carefully.
#4. Use the Suggestions that Make Sense
You don't need to use every suggestion that crosses your path.
As the owner of your business, it's important that you make sure each nugget of advice makes sense for your budget and communication style. And that your heart says "yes."
If it doesn't make sense; if your heart doesn't go along, you won't fully own the actions you take to improve your marketing and you won't get the results you want.
Lesson: make sure your intuition and heart are fully engaged before you act on a suggestion.
======================================
Bottom Line
======================================
If you're a small business owner and find yourself avoiding marketing because it seems like tons of work with no guaranteed results, take heart.
Although uncertainty is inherent in marketing because we can't perfectly predict how people will respond there are things you can do to improve the odds of getting good results.
It also helps to remember that you're in the same boat as every other business owner. Regardless of what you might hear, it's near impossible to hit every promotion "out of the park" every time.
The successful marketers know it's about putting your offer out there and improving your offer based on feedback; sometimes two or three times.
About the Author:
Judy Murdoch helps small business owners create low-cost, effective marketing campaigns using word-of-mouth referrals, guerrilla marketing activities, and selected strategic alliances. To download a free copy of the workbook, "Where Does it Hurt? Marketing Solutions to the problems that Drive Your Customers Crazy!" go to http://www.judymurdoch.com/workbook.htm
You can contact Judy at 303-475-2015 or judy@judymurdoch.com
Follow @judymurdoch on Twitter.
Copyright © 2010 Judy Murdoch
So often a business owner will say to me that they "hate" marketing.
If you are a small business owner who "hates" marketing or even feels a sense of uneasiness when you contemplate marketing for your business, this article is dedicated to you.
======================================
Why Business Owners H8 Marketing
======================================
Once you get past the "nameless dread" business owners feel about marketing, some interesting issues surface:
1. Marketing Just Isn't Their "Thing"
2. They're Not Really Sure What They Should Be Doing
3. They Wonder Whether Their Large Investment of Time, Effort, and Money Will Really Pay Off
If you hate marketing because it just isn't your thing, I'm not going to try talking you out of that. I believe we're best off playing to our strengths.
However, you'll need to find and pay someone else to do your marketing. If you can't or won't outsource marketing, seriously consider whether you want to own a business.
If you hate marketing because you're not really sure what you should be doing, rejoice because there's a lot of good support for learning and practicing marketing skills: books, classes, and coaches.
If you hate marketing because it feels so darn vague and risky...ah...read on.
There are things you can do to reduce that uncertainty and get more comfortable with risk as a natural component of the marketing process.
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Risk is Inherent in Marketing
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Prior to starting my business I spent more than a decade working for large consumer products companies. I worked in the research department and my job was to study customers so the people who were planning and producing products would maximize the chances that customers would buy.
Note I said "maximize the chances" rather than "make buying a sure thing."
Because even giant companies spending millions using customer research in their marketing decisions will never tell you marketing is a sure thing.
It's like the batting averages in baseball. No one, not the greatest hitter of all time ever hits every pitch.
Hitting one ball out of three is considered spectacular. Hitting one ball out of four is average.
This is very important to keep in mind: that in all your marketing efforts, you will rarely, if ever, get great results the first time you attempt to market your offer.
More often, you'll begin seeing real results on your 3rd or 4th go.
You can, however, improve your chances to succeed faster.
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How to Improve Your Odds
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The good news is, in fact, there are many, simple, inexpensive ways to improve your marketing and improve your chances of people responding.
#1 Numbers Matter
The more impersonal your marketing approach the the larger the number of people who need to see your offer. For email offers having 1% of your list purchase is normal.
If you are enrolling for a ten-person class and you have 200 people on your mailing list, you need to use other, more personal methods to fill your class.
Lesson: to improve the odds of internet marketing success, build your list.
#2 Make Improvement Your Objective; Not Perfection
Please oh please don't wait until your offer is perfect. If you've checked for typos, made certain that details are correct and the links work, get your offer out to people.
Lesson: It's not about hitting the first ball, or even the second ball, it's about showing up, seeing how people respond, and tweaking.
#3 Find Out What Worked and Didn't Work
Ask some of the people who received your offer:
And at each point, ask "how come" with the sincere intention to find out what didn't work.
The sincere intention bit is very important. If you're talking to someone who fits your "ideal customer" you don't want them to gloss over what didn't work. Tell them you want their input so you can be of service and help them and businesses like them.
And remember to thank them for their help.
Lesson: Ask for honest input, don't defend or explain, and listen carefully.
#4. Use the Suggestions that Make Sense
You don't need to use every suggestion that crosses your path.
As the owner of your business, it's important that you make sure each nugget of advice makes sense for your budget and communication style. And that your heart says "yes."
If it doesn't make sense; if your heart doesn't go along, you won't fully own the actions you take to improve your marketing and you won't get the results you want.
Lesson: make sure your intuition and heart are fully engaged before you act on a suggestion.
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Bottom Line
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If you're a small business owner and find yourself avoiding marketing because it seems like tons of work with no guaranteed results, take heart.
Although uncertainty is inherent in marketing because we can't perfectly predict how people will respond there are things you can do to improve the odds of getting good results.
It also helps to remember that you're in the same boat as every other business owner. Regardless of what you might hear, it's near impossible to hit every promotion "out of the park" every time.
The successful marketers know it's about putting your offer out there and improving your offer based on feedback; sometimes two or three times.
About the Author:
Judy Murdoch helps small business owners create low-cost, effective marketing campaigns using word-of-mouth referrals, guerrilla marketing activities, and selected strategic alliances. To download a free copy of the workbook, "Where Does it Hurt? Marketing Solutions to the problems that Drive Your Customers Crazy!" go to http://www.judymurdoch.com/workbook.htm
You can contact Judy at 303-475-2015 or judy@judymurdoch.com
Follow @judymurdoch on Twitter.
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