Who’s Making Money?

Entrepreneur 3 Comments »

Honestly, I am so sick of people talking about how terrible the economy is.  You can’t have the TV on for 5 minutes without a commercial or reporter rubbing it in your face.  It’s like the media has more than one agenda these days…one is get you to buy, the other depress you!  Here’s one sure way to have a positive day, week, month and 2009!  Quit listening to the media!  Quit listening to your negative in-laws, friends, neighbors, whomever!  Real brilliant advice huh, those of you who know me know that I believe the economy is fine.  In his book ‘CASHFLOW Quadrant’ Robert Kiyosaki says that “economic upheavals have always marked the end of an old era and the birth of a new era.”  I know what you’re saying…that’s great Tim, but this shift isn’t helping me pay the bills!  Well if you’re looking for other ways to make money, or start your own business here are some recommendations from one of my favorite authors.

 In 2006 Paul Zane Pilzer wrote ‘The Small Business Association’s recent report to President Bush reports that small businesses account for more than one-half our nation’s economic output and employ more than half our private-sector workforce—and home-based businesses account for half of small businesses.  The large corporation is giving way to the independent contractor and the self-employed entrepreneur.  In effect, we’re breaking down those huge corporations into their component parts, namely, the individual entrepreneurs—and as a result, more and more of those entrepreneurs are becoming millionaires.  In the past, where we’d see a single company going to $1 billion, today we’ll more likely see 1,000 individuals each going to $1 million.

In the past, you never had a chance.  Because the big corporation ruled, someone else made that money…the Astors, the Vanderbilts, the Rockefellers.  But during the 1990’s, 3.6 million people stepped forward and claimed their own fortunes.’ 

So listen to Pilzer!  He says ‘Go where the growth is.’

-The Wellness Business

-The Internet

-The Internet Goes Local

-The Internet and Health Care

-The Empowered Consumer and the Empowered Entrepreneur

Pilzer predicts ‘that U.S. household wealth will reach $100 trillion in the next ten years, by 2016–and that over the same ten years; the economy will create at least ten million new millionaires.’  WHAT!!! 

graph2.jpg

That's Right! Predictions are HIGH!

Yes you read that correctly so for specific’s check out ‘The Next Millionaires’ and no, I am not getting some kind of perk by advertising this book.  It’s just AWESOME!  You know ‘calm Tim’ is still pretty excited, so when I tell you I love this book I mean I’m bouncing off the walls!  There is a ton of opportunity out there the secret is knowing where to look and who to ask!

Take care,

Tim Schmidt

Is This a Good Time?

Entrepreneur 1 Comment »

Here’s a note from a reader…

January 30, 2009

Greg W. 

Tim,

Did you consider the time of year you opened your business for advertising?? When I opened mine I didn’t fully understand the time frame. But then August rolled around and I was visited by the phone company to put an ad in the phone book. Once this was out I received ALOT more business. Before this, I advertised with street signs and actually did well with that. 

Hi Greg,

You bring up an interesting point. I imagine the time of year could play a role in the effectiveness of advertising.  Here are a few things that play an even MORE important role in your business advertising and marketing plan.

1. You must HAVE a plan. Don’t wait for the yellow pages or the radio ad salesman to come to your office. Be proactive and figure out which form of advertising will work best for you and your business.  Spend your money on traceable ads. The only businesses that spend money on “image advertising” are businesses that like to WASTE money.

2. Use direct response marketing principles in EVERY piece of advertising you do. What do I mean by this? Well, here’s a simple summary. Your ad should have three things.

A.) Compelling headline to attract your prospects attention.

B.) List of BENEFITS that your prospect will get if they use your product or service.

C.) A call to action with multiple response methods that is traceable.

Greg, the good news is that doing things like this is very simple, and the even better news is that your competition is probably NOT doing it. Heck, even in this rough economy, it is pretty darn easy to be the “standout” business in your industry.

Good luck, my friend.

Don't come up blank on your advertising plan!

Take care,

Tim Schmidt

I Just Got Tired of Losing

Entrepreneur 1 Comment »

How many of you watched the 2008 Olympic Games in Beijing?  Aren’t the Olympics the epitome of ‘Dream-Struggle-Victory’ stories we love?  Cheer for the underdog beating incredible odds!  The un-human men like Michael Phelps who inspires us with their talent and work ethic!  The competitors who play hurt…the young and the old.  The kind of thing that just puts you in a good mood!  I came across this story recently from a gentleman who was a competitive swimmer in California and follows the races very closely.  I remembered watching this race, but had no idea of this particular story behind the victory.

It’s a little known fact but in the history of the Olympics, the United States had never lost the men’s 400 meter freestyle relay race until the 2000 Olympics in Sydney Australia.  That race was anchored by a man named Jason Lezak.  Imagine, his first Olympic games, bringing home the silver (for that race) and realizing that the history of the Olympics was changed because of you?  Whoa, pretty heavy stuff. 

Determined, Jason trained 4 more years in preparation for the 2004 games.  But, for the second time in the history of the Olympics, America lost the 400-meter freestyle relay which was again, anchored by Jason.  So now the 32 year old Jason is facing his third Olympics, 2008 and the United States is NOT favored to win the gold this time. We’re going up against a very powerful French swim team whose anchor swimmer is the current 100 meter world record holder.

Michael Phelps starts off the relay and gives the U.S. a slight lead.  But because the French are so powerful they soon take it from us and gain almost a full body length from the US swimmer with Australia close behind.  In a short race like the 400 meter relay a body length is a significant distance to try to make up.  Jason, again the anchor swimmer, can see this lead they have more than anyone.  His first lap is strong but hard to tell if he really gained any ground on the lead.  Then, at the turn Jason makes his move and starts to run down the leader.  His arms digging in the water, he gains slight distance on the lead but even in the middle of the pool you’re not sure if he will make it.  Soon, they are neck and neck, the announcers are going crazy and it is down to the final strokes!  Jason is giving it all he has and with a final strong push he wins by 8/100ths of a second.  WOW!  Anyone watching was surely on their feet screaming for this incredible victory!  Through that tremendous race and victory the most inspiring moment was when the reporter went up to Jason and told him that his split was the fastest 100 meter relay split in history (46.06), and said  it’s ‘impossible’ what you just did!  How did you do it Jason?  His answer was priceless, “I guess I just got tired of losing.”

2008 Summer Olympics, Jason Lezak, Men s 4 x 100m Freestyle Relay Final

Victory!!

I love that story because the main competitor Jason beat that day was himself not any other team.  Life isn’t really easy for anyone; we all struggle and have been kicked down a few times.  But, we all have moments when we’ve had to step up to the plate and run our race laid out before us!  Are you tired of losing?  I hope so.  Get mad, get tired of losing!  Don’t be afraid to fail!  Think of Jason…boy the pressure was on, odds were stacked against him but he dug from somewhere deep inside and you can too! 

http://www.youtube.com/watch?v=sVZrne7X5ww 

Great video of the race!

 

Take care,

Tim Schmidt

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