Is It Possible To Profit In An Economic Downturn?

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Is It Possible To Profit In An Economic Downturn?

“You define abundance. You decide whether or not to shrink or expand. You choose whether or not to participate in this line of thinking. This is wealth.”
Christine Kane

Recession? Seriously?

Okay, fine. The market is having some troubles. What do you do? Do you cower in fear, doubt, and uncertainly like the masses or do you…please forgive me for the cliché; do you make lemonade from lemons?

It’s true. Right now we’re living in some pretty uncertain times financially speaking. However, there’s always opportunity. The online world is still thriving. In fact, it’s growing. The self help and home based business is booming! The investment market is actually thriving – people are anxious to learn how to invest their money, protect their money, and still live the same quality of life they’re used to.

Warren Buffet just invested 5 billion into Goldman Sachs. Of course he had 5 billion to invest in the first place but this is a guy who isn’t casual with his money. And he just invested 5 billion in what many would consider the most unstable sector in the world.

Why?

He sees an opportunity.

It’s what successful entrepreneurs do.

Successful entrepreneurs are typically risk takers. Not blind risk takers who jump into a pool of hungry sharks without looking first.

Instead, they spend a bit of time evaluating the risk and then deciding whether it’s worth jumping in. That doesn’t mean that every single light is green and it’s 100% okay to make the jump, or investment. But it means they know what they’re getting into. They understand the risks.

Along with understanding the risks, successful entrepreneurs understand, and look for, opportunity.

Think about Amazon, Paypal, and even the folks over at MySpace. They saw a potential opportunity and took some very big risks – boy did they pay off.

Despite what the mainstream media will have you believe – those opportunities are still available. The only difference between five years ago and today is the collective consciousness – if the media is telling everyone that the economy is good and invest, invest, invest – the collective buys into it and boom – everyone and their brother are taking huge risks with the comfort that the financial guru they saw on CNN the other night said it was a good thing to do – the economy is great.

Now the same financial guru is telling everyone to buckle down. Save money, don’t spend. Hold tight to your investments. Don’t take any risks.

And the collective conscious believes it. They hold tight to their money.

The result…missed opportunity.

Assuming you do your homework, analyze the market, and understand the risks – the risks are the same as it was 5 years ago. The opportunities are the same.

What is required to recognize and take advantage of these opportunities?

A good attitude is a must.

A good attitude means you’ve established the desire to be wealthy. Now that may sound very simplistic. Everyone wants to be wealthy, right? No, not really. Some people are quite content at their current income level what ever it may be.

And many of those who do desire great riches let other desires, beliefs and myths about money get in the way. Napoleon Hill outlined six steps to achieving Desire as it relates to attaining wealth. They are:

#1 Fix in your mind the exact amount of money you desire. (This is very much part of the visualization and goal setting process and is critical to success) At first you may think, “Oh okay, I want a million dollars.” Then you’ll think, “No, this is a visualization exercise, right? How about six million dollars?” Then the doubts will start to enter your mind and you may drop down to $100,000. The goal here is to let go of those limiting beliefs. If you want six million then fix that amount in your mind.

Perhaps you need to do a little bit of thinking, meditating, or even planning on how much money you want. That’s fine. Take your time. It’s important that you’re comfortable with the number you’re seeking.

#2 Determine exactly what you are willing to give in return for the money you desire. It’s the old you don’t get something for nothing philosophy. This is actually a great way to help let go of your limiting beliefs about money particularly if they relate to money being inherently bad. What would you do if you achieved the monetary goals you’ve set forth? Will you donate a specific amount to charity each year? Will you volunteer your time? Will you employ people and offer a great salary and benefits package? What are you willing to put out there?

#3 Establish a specific date for receiving or earning the money goal you’ve established. Tomorrow, right? You’d like that six million dollars tomorrow, please. Okay, now step back and consider what may be more reasonable. Not too reasonable mind you, you probably don’t want to set your goal 20 years in the future however 12 months isn’t unreasonable is it? Neither is six months, or even three.

#4 Carry out a plan to begin – Mr. Hill recommends taking action whether you are ready or not. You can’t spend your life planning, it’ll just pass you by. So how are you going to make this money? What’s going to happen or change in your life to make it happen? Are you going to write the next Harry Potter? Are you going to develop a software product or game that sells out all over the world? What skills, talents, and knowledge do you have, or you have access to, to make it happen?

#5 & #6 Create a written statement for the first four actions described above and then read it aloud twice a day. Once when you’ve just woken up and once before you go to bed.

This process as it was laid out by Napoleon Hill in 1937 and supported by wealth coaches, personal coaches, professional coaches and mentors all around the world, may seem a bit simplistic at first glance. However, upon implementing it you will see it has a very powerful effect on not only your attitude but your motivation as well.

Visualization is a technique that successful people in all walks of life utilize to improve and to achieve their desired results. It doesn’t matter if you’re a stay at home parent who aspires to build a six figure business or an Olympic athlete – visualization and establishing a desire to achieve are a necessary first step to real success and wealth.

An economic downturn matters. Of course it does. However, where there’s the desire to succeed, where there’s openness to success, wealth, and the power of opportunity, there’s a real chance to profit – desire is the first step.

What do you think about the current economic conditions? Leave your comments here

This entry was posted on Monday, October 6th, 2008 at 11:00 pm and is filed under Wealth Creation Ideas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Home Based Business Tips for Newbie by: Tsuyoshi Suzuki

A major concern of all Home Based Business Entrepreneurs is to get Traffic to their websites. Most people who have searched for a suitable home based Internet Business opportunity complain about a common illness: They are sick and tired of websites that promote best home based Internet Business opportunities… sick and tired of the false promises, the over-hyped sales pitches, and the downright SCAMS that lurk behind most Internet Business opportunities. Millions of people around the world have had the dream of finding the perfect home based business and being able to fire their boss.

Starting a home based internet business can be a run away success if the website comes up within the first 20 results of organic searches. Promoting your Internet Business Offline is a great way of getting over this problem and at the same time creating an image for yourself and your Home Based Business. Hence SEO is one of the main tools for your websites promotion as well as marketing, when starting a home based internet business.

Looking at the above statistics and statements, you must have gathered a basic picture in your mind on how important SEO can be to your starting a home based internet business. If you are new to the Internet business, you might feel that you would prefer to remain anonymous because you are still learning the trade and have no expertise to share. Once you’ve decided what you are going to sell on the internet and how, you venture online to search for profitable home based business opportunities that appeal to you.

In addition to diversifying your online business, you should also take a few other things in account that are unique to the problems that home based business owners face. These are just a few of the reasons that you should consider diversifying your business. Promoting an home business calls for 3 things: increasing traffic to your website, selling goods/services that are worth the money and retaining/adding to your customer base.

In order for your internet home business to be successful, your website must well set up so that it attracts the traffic you need, and so that the visitors who will come to your website will make you some money. For your business to be successful, it is important that you constantly improve your website or products/services, and you can achieve this by having a feedback form on your website. The final fear to overcome when thinking about putting your photo on the Internet for your website, is that you are not good looking or just don't photograph well.

One of the easiest, low capital and requirement little knowledge and skill initially to build a home based business is to join a MLM or network company. Another way is to get into the mind of the small home business owner. As a Web Designer or a Business owner wearing a Web Designer Hat it seems you have 2 Choices, do what seems right and in many ways best and use a Pretty Directory Structure and Loose Ranking points or Throw out the Directory Structure and Gain Ranking Points.

Tsuyoshi E. Suzuki makes it easy to build your home based business and earn a substantial income. Finally, you should make sure that lifetime support for your profitable home based business opportunity is provided. For more information, make sure you follow the link in the recourse box below now.

About The Author

Tsuyoshi E. Suzuki is an Expert Internet Network Marketer. Discover How To Build Up 1,000+ Downline. Generate Your Own MLM lead for FREE! Find out the best MLM business opportunity. The Dirty Truth about MLM Marketing that You Don't Know. Get FREE Report Now! Go to ==> http://www.HappyMLM.com

How To Keep Pace With The Rapidly Changing Internet - John Colanzi

The noose keeps tightening on publishers and email marketers. We're caught between the "Slim Shadys" who believe that if you have email, you're fair prey and the powers that be who feel that we're just collateral damage in their war with "Slim Shady."

The rules are changing so fast it makes my head spin.

So what can I do?

Gather all my friends so we can suck our thumbs and have a pity party, or get over it.

Well the party's over and it's time to learn the rules and play by them or move to another playing field.

I've decided to shift playing fields. I'm just getting too old to start crawling on my knees and begging them to let me survive.

So what am I going to do?

I'm going to concentrate on viral marketing.

So what is viral marketing?

It's when other marketers voluntarily help you spread your links.

I already use ezine writing which is still a powerful
viral marketing tool, but now it's not enough.

If ezines are reaching less readers, that means articles
are being seen less.

The best way to compensate is to hop on the information
virus.

So how can you hop on the idea train?

Start creating fr** and fee eBooks that are brandable. Start unleashing these little salesmen and get your name out there.

Why brandable? Because by allowing others to brand your salesmen, they have an incentive to help you spread the word.

It's the old adage at play, the best way to get what you want, is to help others get what they want.

Forget the pity party and adapt. Hop on board the idea express and you'll keep on track.

Things change, and so do survivors.

10 PSYCHOLOGICAL DESIRES TO INSERT INTO YOUR AD

1. Most people like surprises because it's a change
of pace from their routine. Tell your prospects
that they'll get a surprise f.ree bonus for ordering.

2. Most people want life to be easier. Give your
prospects easy ordering instructions, easy product
instructions, etc.

3. Most people want to feel secure and safe. Tell
your prospects that you have secure ordering and a
privacy policy.

4. Most people want to receive compliments for
their achievements. Give your prospects plenty of
compliments for them considering your product.

5. Most people are curious about things that could
affect their current lifestyle. You could use words
like "Secret" or "Confidential" in your ad.

6. Most people want to invest in their future. Tell
your prospects to "invest in your product" instead
of "b.uy our product".

7. Most people want the latest and newest things
in life. Use words and phrases in your ad copy like
"New", "Just Released", etc.

8. Most people want to solve their problems. Tell
your prospects what problems they have and how
your product can solve them.

9. Most people want to make the people around
them happy. Tell your prospects how happy their
friends or family will be if they b.uy your product.

10. Most people want to get over obstacles so they
can achieve their goals. Tell your prospects which
goals they'll achieve by ordering your product.

Quote of the Day:

"Nothing is unthinkable, nothing impossible to the balanced
person, provided it comes out of the needs of life and is
dedicated to life's further development." -- Lewis Mumford

Tips To Apply For A Credit Card

Filling out a credit card application is just like filling out a job application-everyone needs some tips to use so that they get approved.

If your credit is bad, then it may be a little more difficult to get a credit card than if you have good credit. Do not give up, because there are hundreds of companies out there that offer credit cards for people with bad credit and if you shop around, you will find the credit card that is just right for you.

If you are researching credit cards, the first place that you can get information is the Internet. The Internet has a lot of information about many different credit cards, including their rates, fees, and incentives, so that you can find the best credit card for you.

There are some credit card companies that say that they will give you a credit card with no credit check. However, keep in mind that having a credit card almost always means that you are going to go into debt. Be cautious when choosing the credit card for you. Read the fine print of their terms and agreements to make sure that there are not going to be any surprises.

Analyze your financial situation to make sure that you can handle a credit card and its payments. Even the most cautious of us go on a little shopping excursion every now and then and you do not want to be thrown into a financial tailspin when your bill comes in.

Cautiousness is very important in using your credit card. If you are not sure that you can handle a credit card, then rethink applying. You need to be sure that when the bill comes in that you can make the payments. If you are not completely sure, then don’t get a credit card until you are ready.

Learning About Cash Back Credit Cards: Good or Bad Idea?

Getting a credit card that offers cash back always sounds like a good idea. What could be better than getting cash back on all the purchases that you make with your credit card? It sounds too good to be true, doesn’t it?

Well, there are cards that give you free cash, but it is usually only around 1% cash back. However, free money is free money, right? Well, sometimes.

If you like to buy a lot of things in one month, this kind of credit card probably sounds great to you. However, you need to keep in mind that they are not going to give you cash back on every purchase that you make. Even if they claim to give you cash back on every purchase, they will only give you up to a certain amount per transaction. The company also has a strict limit on the amount that they will give back to their customers. If you read the little, bitty print on the form that you signed, you will see a paragraph with their limits in the terms and agreements.

This is another way to try to draw in new customers for these companies. It is a good credit card to have and sounds great in theory, but they will have to check your credit rating before they will give you their card.

Research different credit card companies to see what they are offering. You may be surprised to find a cash back credit card that offers you just what you need and want with a high cash back percentage, few limits on the amount they will give you back, and instant cash deposits when you make each purchase with their card.

Although these credit cards seem like a great thing to have, some companies will need your credit rating to be great too. However, there are credit card companies that offer these cards to people with a low credit rating to help them rebuild their credit. Research all of your options.

What should your decision be? If you have a good credit rating, then this card is a great option for you. Research different card companies – there are cards out there that offer you up to 3% cash back and impose very few limits. If, however, you have a bad credit rating, you may want to find a credit card that will help you rebuild your credit.