The Beta Factor

http://www.businessinsider.com/warren-buffett-the-investment-everyone-thinks-is-safe-is-actually-the-riskiest-in-the-world-2012-2


Investments that are denominated in a given currency include money-market funds, bonds, mortgages, bank deposits, and other instruments. Most of these currency-based investments are thought of as "safe." In truth they are among the most dangerous of assets. Their beta may be zero, but their risk is huge.

Facebook's stunning growth - and billionaires

http://money.cnn.com/2012/02/07/technology/zuckerberg_tax_bill/index.htm

 Facebook's upcoming IPO will make founder and CEO Mark Zuckerberg a billionaire -- but it will also stick him with an eye-popping tax bill that could reach as high as $2 billion.

Industry experts say that might be one for the record books.

"I personally have never seen a bill into the billions -- close, but not quite," said Anthony Nitti, a Colorado-based CPA and partner with Withum, Smith and Brown. "I talked to a few buddies of mine at the Big Four accounting firms, and it's something not many people have seen."

The giant tax hit is a consequence of Zuckerberg's plan to exercise stock options worth billions. The move will significantly increase his ownership stake in the company he founded eight years ago.

Zuckerberg currently owns almost 414 million shares of Facebook, but he also holds options to buy another 120 million shares at the bargain price of 6 cents a piece. Facebook said in its IPO paperwork that Zuckerberg plans to exercise those options and will sell some of his shares during Facebook's initial offering to cover the tax bill.

The type of options Zuckerberg holds are taxable as ordinary income when they're exercised, even if the shareholder hangs onto the shares and doesn't sell them. That means Zuckerberg will owe taxes on the difference between what he pays for his Facebook shares -- 6 cents -- and their market value the day he exercises the options.

Facebook said in its IPO filing that it values its shares at $29.73. At that price, Zuckerberg's options windfall would be worth $3.6 billion.

But analysts expect Facebook shares to go for a premium when they're sold to the public. A private-market trade last week valued Facebook's shares at $40 each -- giving the company an overall valuation of around $100 billion. That price tag would make Zuckerberg's options worth almost $5 billion.

Either way, the windfall lines him up for a whopping tax bill. The top U.S. marginal tax rate this year is 35%. Zuckerberg's home state of California also carves off a big slice, hitting those with incomes of $1 million or more with a 10.3% income tax.

Stock options are a tax swampland, and it's hard to estimate precisely what Zuckerberg will end up paying. But tax analysts are ballparking the total at somewhere in the $1.5 billion to $2 billion range -- a nearly unprecedented sum.

The IRS doesn't comment on individual tax bills, but an analysis of the top 400 U.S. taxpayers with the highest reported incomes for 2009 (the most recent year available) shows that the average tax bill for a member of the ultra-1% club was $49 million. The top 400 collectively paid income taxes totaling $19.6 billion.

Zuckerberg could single-handedly boost that stat significantly in 2012.

Still, accountants said Zuckerberg's tax plan is the right move.

The 27-year-old entrepreneur is famously loathe to give up any ownership control over his company, and he plans to sell only enough stock to cover his tax bill, Facebook said in its regulatory paperwork.

That means that the rest of Zuckerberg's billions will remain hypothetical paper wealth, and his financial fortunes will stay closely entangled with Facebook's.

Facebook's stunning growth - and billionaires

"He's doing it the smart way," said Stan Pollock, a San Francisco CPA who specializes in stock options planning. "We learned from the dot-com bust that people should do it that way -- sell shares to cover the tax bill."

During the dot-com bubble peak in 2000, countless tech industry workers got burned by roller-coaster stock prices. For tax purposes, the value of most stock options is fixed the day they're exercised -- even if you don't sell any of the stock. If you pay $5 to exercise an option and buy shares valued at $30, the IRS views your gain as income of $25.

What happens if the stock plunges before you sell any shares? You're still on the hook for the price it was the day you exercised it.

"People were exercising options and holding them in anticipation of the stock going up and up. The stock would go and up and up and up -- and then go down," Pollock said. "A lot of people were stuck with huge tax bills and no money to pay the bills."

Facebook will also get a significant boost from its employees' stock windfalls.

That's because companies can take a "mirror" tax deduction for stock option compensation when the options are exercised.

Thanks to its deduction on Zuckerberg's staggering tax bill and other stock-related expenses, Facebook expects to show a net operating loss this year for U.S. federal tax purposes. That means it will qualify for a refund on some of the taxes it paid last year on its $1 billion profit.

"We anticipate that this refund could be up to $500 million and payable to us during the first six months of 2013," Facebook said in its IPO filing.

Here's the ironic twist: While Zuckerberg's 2012 income will be stratospheric, his 2013 earnings could drop him straight back into the lowest possible tax brackets. At his request, Facebook's board agreed to slash his annual salary next year to $1

How to Find a Mentor You Can Trust

By Joshua Boswell

In the next few minutes, I'm going to give you a solid, bulletproof formula for picking a mentor you can trust.

But first, why do you need a mentor?

I'm using the term "mentor" here pretty loosely. What I mean is a person or system you can comfortably hang your hat on. Someone reliable who will show you how and when and where you can make money online.

There are two reasons why you need this simple formula of mine …

First, there has never been a "solo success story" in the history of the world. Every person of great wealth, health, and happiness has had someone giving them a hand up and helping them find their way.

You're not going to be the first person in history to break this pattern, so you need a person or system to help you along your journey.

Second, there is the issue of white noise.

That is what I call the constant bombardment of information, pitches, and enticements you and I face every day.

It seems like everyone under the sun has some kind of system for making money online. And, all of them are fighting and grabbing for your attention. It's like walking into an old-fashioned marketplace with 37,000 vendors hoping to sell you their wares. They shout and yell and do everything they can to win you over. The volume can be deafening.

It's also very confusing.

Which one can really help you? Which is a scam? Which is well-meaning, but just doesn't have the right stuff for you?

You and I both know that before you move forward, you need to pick something or someone to work with. Until that happens, your mental capital will be spent wondering who you should trust … and you'll be caught up in wondering if some system is right for you.

To help you get past that stagnant position, I'm giving you my personal formula that I've used for picking mentors I trust and are right for me. Here it is …

Step One: Harmonize Values and Priorities

This is the first and probably most important step. You want to know if the mentor or system you're considering harmonizes with your core values.

It's no good saying, "I don't like what that guy is promoting, but he seems to be making a lot of money so I'll follow his lead." If you do that, it won't be long before you feel frustration, conflict, and internal turmoil.

All of those feelings will stop you dead in your tracks. You'll be confused and conflicted. You'll always be wondering if what you're doing is right or not. All of that energy will take away from your ability to make money online.

Many years ago, when I started my copywriting business, I sat down and made a list of industries, products, and services I would never write for. I also made a list of activities I would never engage in.

I applied that same list to my selection of gurus and mentors. If they made their money in those sectors or strongly supported those values on my list, I stayed clear.

As I looked at my list, I saw that someone was making a ton of money in all of these industries. I also knew that some mentors in those industries were decent people … just not my kind of people. I wanted to be true to myself — no make that … I had to be true to myself so I could sleep peacefully at night.

One other thing to consider here, that's closely related … Does the mentor or system harmonize with your priorities? In other words, is following this path right for you, based on your personal priorities, goals, and focus in life?

I could have made a great deal of money in the world of financial copywriting … but, frankly, it was just not my thing.

So, my first question for you is this … does the mentor or system harmonize with your personal, internal, core values and priorities? If yes, move on to Step Two …

Step Two: Determine Congruency and Sincerity

I wish it wasn't so, but there are people in our world today that say one thing … and do another. Or, they encourage you to do something they have never done. They sell theory, not reality.

At one point, when I was in a critical phase of my life and business development, I found myself sitting across the desk from Michael Masterson. It was a rare and profitable treat for me.

We were talking about a number of opportunities I could pursue. One of them was wide-open and growing. It was a good opportunity in a good industry. He said to me, "Joshua, have you ever done anything in this industry?"

"Well, no," I replied.

"Then I think we'd better stay away from it right now. People can feel when you are sincere and are speaking from experience. You don't want to try and sell theory or guesswork. People deserve better than that."

It had a profound impact on me. I decided that in all of my efforts, I needed to walk the walk, not just talk the talk. This meant I could not get rich by selling systems and ideas that I had not personally implemented.

When you look at a mentor or system, ask yourself, "Have they actually done what they are proposing I do? Is their life congruent with their teachings?" If not, stay away. You are buying theory, not reality.

And, if you're going to put your time and money into building a business online, you deserve to know what really works and is proven.

Step Three: Reality Check

A lot of mentors and gurus out there get a little carried away in their claims and promises.

I understand why … it's very hard to be heard in the fierce marketplace today. And, for a certain crowd in the world — hype sells. The more hype … the more inflated the promises … the more they're buying.

So, in order to sell more and make a living, many mentors play the "Keep up with the Hypesters" game. If one promises you can make $5,000 a week working just 20 hours, then the next guy feels like he needs to promise you $10,000 a week in just 10 hours to even be heard. And, it can sharply escalate from there … as we have both seen.

But, here's my perspective … I love vegetable gardening. I love the process of preparing the soil, planting the seeds, weeding, giving the plants time to grow, and then finally reaping a healthy, fulfilling harvest.

There are certain laws in play here that just can't be skipped or rushed. You have to do things right, in the right order, and in the right timing.

If you plant seeds on Monday and try to harvest a week later, you'll get nothing but dirt.

Business is the same way.

There is an order, process, and timing to it all that needs to be obeyed.

So ask yourself, "Is this system or mentor promoting things in a realistic, rational order, with appropriate timing?" If not, stay away. Save your time and money.

Over the years, I have used this simple, three-step formula to protect my time, my money, and my emotions. More than anything, it has been very effective for me at turning down the volume of the "noise" that fills my life. This has made me much more focused and effective … resulting in a healthier, happier, wealthier, more fulfilling life.

This simple formula has also helped me build a great team of mentors — people that genuinely care about me, my happiness, and my financial success.

If you are serious about making money online and creating cash-flow systems, then clearing the noise and locking in a mentor is the first and most essential step. If you get this wrong, you could wander for years and spend money recklessly on things that never produce.

I know that cutting the noise and gaining a solid mentor has made all the difference for me.

It will for you, too.

How to Find a Mentor You Can Trust

By Joshua Boswell

In the next few minutes, I'm going to give you a solid, bulletproof formula for picking a mentor you can trust.

But first, why do you need a mentor?

I'm using the term "mentor" here pretty loosely. What I mean is a person or system you can comfortably hang your hat on. Someone reliable who will show you how and when and where you can make money online.

There are two reasons why you need this simple formula of mine...

First, there has never been a "solo success story" in the history of the world. Every person of great wealth, health, and happiness has had someone giving them a hand up and helping them find their way.

You're not going to be the first person in history to break this pattern, so you need a person or system to help you along your journey.

Second, there is the issue of white noise.

That is what I call the constant bombardment of information, pitches, and enticements you and I face every day.

It seems like everyone under the sun has some kind of system for making money online. And, all of them are fighting and grabbing for your attention. It's like walking into an old-fashioned marketplace with 37,000 vendors hoping to sell you their wares. They shout and yell and do everything they can to win you over. The volume can be deafening.

It's also very confusing.

Which one can really help you? Which is a scam? Which is well-meaning, but just doesn't have the right stuff for you?

You and I both know that before you move forward, you need to pick something or someone to work with. Until that happens, your mental capital will be spent wondering who you should trust... and you'll be caught up in wondering if some system is right for you.

To help you get past that stagnant position, I'm giving you my personal formula that I've used for picking mentors I trust and are right for me. Here it is...

1. Step One: Harmonize Values and Priorities

This is the first and probably most important step. You want to know if the mentor or system you're considering harmonizes with your core values.

It's no good saying, "I don't like what that guy is promoting, but he seems to be making a lot of money so I'll follow his lead." If you do that, it won't be long before you feel frustration, conflict, and internal turmoil.

All of those feelings will stop you dead in your tracks. You'll be confused and conflicted. You'll always be wondering if what you're doing is right or not. All of that energy will take away from your ability to make money online.

Many years ago, when I started my copywriting business, I sat down and made a list of industries, products, and services I would never write for. I also made a list of activities I would never engage in.

I applied that same list to my selection of gurus and mentors. If they made their money in those sectors or strongly supported those values on my list, I stayed clear.

As I looked at my list, I saw that someone was making a ton of money in all of these industries. I also knew that some mentors in those industries were decent people... just not my kind of people. I wanted to be true to myself - no make that... I had to be true to myself so I could sleep peacefully at night.

One other thing to consider here, that's closely related... Does the mentor or system harmonize with your priorities? In other words, is following this path right for you, based on your personal priorities, goals, and focus in life?

I could have made a great deal of money in the world of financial copywriting... but, frankly, it was just not my thing.

So, my first question for you is this... does the mentor or system harmonize with your personal, internal, core values and priorities? If yes, move on to Step Two...

2. Step Two: Determine Congruency and Sincerity

I wish it wasn't so, but there are people in our world today that say one thing... and do another. Or, they encourage you to do something they have never done. They sell theory, not reality.

At one point, when I was in a critical phase of my life and business development, I found myself sitting across the desk from Michael Masterson. It was a rare and profitable treat for me.

We were talking about a number of opportunities I could pursue. One of them was wide-open and growing. It was a good opportunity in a good industry. He said to me, "Joshua, have you ever done anything in this industry?"

"Well, no," I replied.

"Then I think we'd better stay away from it right now. People can feel when you are sincere and are speaking from experience. You don't want to try and sell theory or guesswork. People deserve better than that."

It had a profound impact on me. I decided that in all of my efforts, I needed to walk the walk, not just talk the talk. This meant I could not get rich by selling systems and ideas that I had not personally implemented.

When you look at a mentor or system, ask yourself, "Have they actually done what they are proposing I do? Is their life congruent with their teachings?" If not, stay away. You are buying theory, not reality.

And, if you're going to put your time and money into building a business online, you deserve to know what really works and is proven.

3. Step Three: Reality Check

A lot of mentors and gurus out there get a little carried away in their claims and promises.

I understand why... it's very hard to be heard in the fierce marketplace today. And, for a certain crowd in the world - hype sells. The more hype... the more inflated the promises... the more they're buying.

So, in order to sell more and make a living, many mentors play the "Keep up with the Hypesters" game. If one promises you can make $5,000 a week working just 20 hours, then the next guy feels like he needs to promise you $10,000 a week in just 10 hours to even be heard. And, it can sharply escalate from there... as we have both seen.

But, here's my perspective... I love vegetable gardening. I love the process of preparing the soil, planting the seeds, weeding, giving the plants time to grow, and then finally reaping a healthy, fulfilling harvest.

There are certain laws in play here that just can't be skipped or rushed. You have to do things right, in the right order, and in the right timing.

If you plant seeds on Monday and try to harvest a week later, you'll get nothing but dirt.

Business is the same way.

There is an order, process, and timing to it all that needs to be obeyed.

So ask yourself, "Is this system or mentor promoting things in a realistic, rational order, with appropriate timing?" If not, stay away. Save your time and money.

Over the years, I have used this simple, three-step formula to protect my time, my money, and my emotions. More than anything, it has been very effective for me at turning down the volume of the "noise" that fills my life. This has made me much more focused and effective... resulting in a healthier, happier, wealthier, more fulfilling life.

This simple formula has also helped me build a great team of mentors - people that genuinely care about me, my happiness, and my financial success.

If you are serious about making money online and creating cash-flow systems, then clearing the noise and locking in a mentor is the first and most essential step. If you get this wrong, you could wander for years and spend money recklessly on things that never produce.

I know that cutting the noise and gaining a solid mentor has made all the difference for me.

It will for you, too

The Questions You must answer to run a business sucessfully

If you want to make more money online and put much nicer
Christmas presents under the tree next year...let's review
a few of the toughest business questions anyone could ask
you - although I doubt anyone ever will because they don't
want to make you feel bad.

 1) Why do you deserve to make money on the Internet?

2) Why do you deserve traffic?

3) Why would anyone be your affiliate?

4) Why would a customer choose you over any of your competitors?

5) What have you done for anyone lately that someone isn't
already doing for them?

Like I said, not very nice questions.

But what matters is whether or not you have good answers for
all of those questions.

ANY of those questions?

No?But here's the harsh truth...

It's up to you, dear reader, to find GREAT answers to
those questions. It's the only way to succeed.

And that should be your first big ACTION step of 2012.

SPectacular Losers!!!

http://www.forbes.com/sites/ericjackson/2012/01/02/the-seven-habits-of-spectacularly-unsuccessful-executives/

Internet Independence Email Newsletter

Brought to you by Craig Ballantyne
==============================================

In a perfect world, we'd all have websites that sold
every visitor who landed on the page.

This would allow us to go out and buy ads on other
sites, plus TV commercials, radio commercials, and
maybe even a Superbowl ad.

However, this is not the case for 99.9% of the website
business owners I know (I know of just 2 guys who are
master's of buying media for their websites).

So the reality is that we need to think like Napster
and do some peer-to-peer marketing.

We need to get affiliates. And the best way to do that is
by starting with people who are on an even playing field
with us.

Don't shoot too high or start too low, but make sure you
work with someone who is juuuust right...as if you were
Goldilocks looking for a joint venture (JV) partner.

That means partnering with someone who has about the same
number of people on their prospect and customer lists.

You're equal peers and this way you have a fair trade.

You mail for them, they mail for you, and both of your
customer lists get a little bit bigger.

Then you go and find someone else who is a little bit bigger
than your last JV partner, and you work with them.

Etc.

But, let me be blunt:

This should NOT be your only long-term business strategy.

All the time you are doing these JV/affiliate deals and
swaps you should be testing your website and making it
better, so that more and more of those people who land on
your site actually make a purchase.

Never lose focus of traffic and conversion.

But back to our Napster model - because we're using this as
our source of traffic for now.

Here's what you're going to do:

1) Identify other businesses that have customer email lists
that are about the same size as yours (do this by contacting
them, helping them, building a relationship, and asking)

2) Arrange to do email swap deals (you send a promo to your
list and they send one to theirs - then you each get some
new customers into your system)

3) Make sure they are sending to your best offer

4) Test something each time (test both the the emails that
are sent out and the page that the prospects are being sent
to - split testing on the Internet is free, so make sure
you are taking advantage of this)

5) Do more of the stuff that works and less of the stuff
that doesn't

As oddvious as step #5 is, most people overlook it, and keep
doing the same things over and over again that do NOT get
them results. But if you're familiar with the popular cliche,
you know that's the definition of insanity.

Aim to do at least one of these swaps each WEEK.

Yes, each week.

Just imagine how far ahead you will be if you complete 52
deals in 2012...and do 52 different split tests of your offer.

Holy conversions Batman, you'll be well on your way to that
perfect world situation I described earlier.

The more often you can do this, the more data you get...the
more data you get, the better your offer becomes. The better
your offer is, the more sales you make. You get the point.

Test for success.

Make deals for momentum

Internet Independence Email Newsletter

Brought to you by Craig Ballantyne
==============================================

In a perfect world, we'd all have websites that sold
every visitor who landed on the page.

This would allow us to go out and buy ads on other
sites, plus TV commercials, radio commercials, and
maybe even a Superbowl ad.

However, this is not the case for 99.9% of the website
business owners I know (I know of just 2 guys who are
master's of buying media for their websites).

So the reality is that we need to think like Napster
and do some peer-to-peer marketing.

We need to get affiliates. And the best way to do that is
by starting with people who are on an even playing field
with us.

Don't shoot too high or start too low, but make sure you
work with someone who is juuuust right...as if you were
Goldilocks looking for a joint venture (JV) partner.

That means partnering with someone who has about the same
number of people on their prospect and customer lists.

You're equal peers and this way you have a fair trade.

You mail for them, they mail for you, and both of your
customer lists get a little bit bigger.

Then you go and find someone else who is a little bit bigger
than your last JV partner, and you work with them.

Etc.

But, let me be blunt:

This should NOT be your only long-term business strategy.

All the time you are doing these JV/affiliate deals and
swaps you should be testing your website and making it
better, so that more and more of those people who land on
your site actually make a purchase.

Never lose focus of traffic and conversion.

But back to our Napster model - because we're using this as
our source of traffic for now.

Here's what you're going to do:

1) Identify other businesses that have customer email lists
that are about the same size as yours (do this by contacting
them, helping them, building a relationship, and asking)

2) Arrange to do email swap deals (you send a promo to your
list and they send one to theirs - then you each get some
new customers into your system)

3) Make sure they are sending to your best offer

4) Test something each time (test both the the emails that
are sent out and the page that the prospects are being sent
to - split testing on the Internet is free, so make sure
you are taking advantage of this)

5) Do more of the stuff that works and less of the stuff
that doesn't

As oddvious as step #5 is, most people overlook it, and keep
doing the same things over and over again that do NOT get
them results. But if you're familiar with the popular cliche,
you know that's the definition of insanity.

Aim to do at least one of these swaps each WEEK.

Yes, each week.

Just imagine how far ahead you will be if you complete 52
deals in 2012...and do 52 different split tests of your offer.

Holy conversions Batman, you'll be well on your way to that
perfect world situation I described earlier.

The more often you can do this, the more data you get...the
more data you get, the better your offer becomes. The better
your offer is, the more sales you make. You get the point.

Test for success.

Make deals for momentum

The Secret Qualities of Successful Information Products

By Gary Scott

If someone asked you, "What's the biggest chunk of the U.S. economy?" ... you probably wouldn't say "information."
But, expenditures on information and information products account for over half of this country's economy. That's roughly $5 TRILLION!
Why so much? Americans have an unquenchable thirst for information. We crave information to make us healthier ... wealthier ... more beautiful. But most of all, we want information so we can show others how much we know.
I've developed a highly-successful publishing business selling information that people want. You can, too.
The key is developing an information product that people not only want to buy but want to continue to buy (or renew). This isn't hard - if you understand the following 7 Qualities of Successful Information Product Development.
Quality #1: Is the Idea Interesting?
Interesting ideas connect with a genuine fundamental aspect of life. And, the first person they have to interest is you. If you pick ideas that interest you, research and writing will be fun. But, interest goes beyond that. Your idea has to be truly interesting to your reader.
For example, my first retail publishing idea in the early 1970s was for U.S. investors to invest globally. The idea was sound and remained very interesting for a long time.
On the other hand, look at collectables. There will always be a collectables market. Yet, many collectables are attractive only because they are in vogue.
If, for example, you had a publication about Beanie Babies back when they were in vogue, you could have done well. Today, that publication would fall on its face.
Fads offer attractive publishing opportunities, but they don't last. Publications about interesting topics survive.
Quality #2: Is the Idea Legal and Ethical?
I once got a letter about how I could mail First Class letters for only 3 cents! Indeed, the stamp on the envelope was 3 cents.
This seemed interesting, since I spend hundreds of thousands a year on postage. The letter promised that, for $12, I could get details on how to mail First Class letters for 3 cents.
This was too good to be true, but I was interested. A few days later, I got one photocopied page telling me how to do it. The page claimed that, as a business, the Post Office had made an offer to send my mail at the current rate. And it claimed that, as a businessman, I could counteroffer by putting a 3-cent stamp on my letters instead. If the Post Office accepted and mailed my letters, they accepted my offer. The idea was to simply mail all your letters with a 3-cent stamp, because most would get through. And, the idea was neither legal nor ethical.
The Postal Service's Revenue Protection Department operates by spot inspection, true enough. So, yes, many of these 3-cent letters would get through. But, anyone mailing lots of them could expect to be investigated by the U.S. government. So, in the long run, it wouldn't have been profitable. The fines (not to mention prison time) for these kinds of actions are very heavy.
Quality #3: Is the Idea Attractive?
Your idea has to attract first-time buyers. It doesn't have to be pretty or pleasant. But, it must attract.
Attractiveness appeals to emotions in some way. The emotions can be good, bad, or even ugly. For example, one ad that worked well read, "I'm mad as heck at the government for cheating us - here's how to get even." It's not a very pretty idea. But, it's certainly attractive.
A publication must hold your reader's interest to succeed in the long-term. But, attractiveness gets potential readers to drop everything, read a sales story, and buy your publication.
Quality #4: Is the Idea Usable?
Your idea has to fill some need for your reader. This is vital to gaining repeat customers for your publication. The idea has to work for its readers.
A publication can be entertaining. With a golf publication, for instance, the pleasure of reading about golf courses may be enough to make it useful if the main goal is to give the reader satisfaction through description.
On the other hand, the goal might be to help the reader know how to get lower golf scores (pride). Or, show times at various courses when greens fees are reduced (savings).
Quality #5: Is the Idea Understandable?
Some years ago, the book A Brief History of Time was a New York Times bestseller for over a year. It was called one of the most-purchased/least-read books of all time. The author's next books didn't sell well. His books - all of them about quantum science - were just too complicated.
Ask: Is my information understandable for my target market? As A Brief History of Time shows, being interesting can sell a book. But if it's not understandable, you won't build repeat business.
Quality #6: Is the Idea Timely?
A successful publication is tuned to the times. If it's too far ahead of or behind its time, it won't do well in the long run.
I failed to understand this quality in the 1970s when I was first writing about investing internationally. I'd lived abroad for nearly a decade, so this idea seemed obvious. However, it ran contrary to public thought.
Twenty years later, most U.S. investors were ready for this idea. Today, it is so common that local stockbrokers give free talks on the subject, so we've had to adapt. Because I understand this quality, I'm able to change, update, and innovate my publications constantly.
Quality #7: Is the Idea Sellable?
In publishing, marketing is a very important part of success. You can have the timeliest, most usable, interesting, easy-to-apply idea in the world. But if you cannot sell it, you won't make money. Defining your market and deciding how to sell your idea correctly is an integral part of the product creation.
I learned this lesson while pioneering the idea of investing abroad. As I said, my idea was right ... but ahead of its time. Because I was out of sync with most American investors, my original selling failed.
The product wasn't salable until I discovered avenues that led me closer to the small percentage of Americans who were interested. This process of understanding the customer is called "focus," and it's crucial to publishing success. For example, I found that though I marketed across the country to all professions and religions, a large percentage of my original readers were Jewish, Southern, or chiropractors - groups that had less trust in the establishment. Once I understood that all three of these groups perceived that the establishment had been, at one time or another, biased against them, I was able to zero in and focus my sales in those areas

The List You Need In Your Life

By Craig Ballantyne

In the spring of 1999, when I was halfway through my Master's degree, I started sending out my resume in an attempt to land my dream job. At that time in my life, it meant writing to the General Manager of every single team in the National Hockey League (NHL) because my number one career goal was to become an NHL Strength and Conditioning Coach.
I scoured the Internet for their mailing addresses, made a list of the GM's I had contacted, and sent out twenty-eight resumes along with a follow-up letter four weeks later. Months went by and, miraculously, some of the GM's even replied. Each time they did I would mark off the communication in a spreadsheet. That was my first experience with building a contact list and while I never did get a shot at working in the big leagues, I discovered the value of having this simple little networking tool.
This is the list you need in your life. It's almost as important as your to-do list. In fact, we'll call it your, "To contact list", and you're going to discover how to build and nurture it by giving value to the people on this list.
The premise of the list is simple. You'll identify the people you want to contact and you'll do so methodically and relentlessly. Keep track of when you last contacted them and identify areas where you can help them. This short set of networking rules has served me well as I've built my online business.
After deciding to focus my ambition on a web-based health and fitness business, I began contacting other experts in my industry. They had great information to share and I had built up a small, but passionate list of online readers. It was the perfect match. I could help these experts by providing them a forum to new readers and potential clients, and the experts would be able to help me by providing content. Voila. We built a working relationship based on adding value to each other.
At the time I had no idea this act of networking would turn out to be a huge component of my online success. I just had a natural inclination to contact and connect with as many experts in my industry as possible. There might even have been a genetic component to it, as my father was fond of making several phone calls to other farmers everyday at lunchtime. He did his power networking by phone, and I've gone on to do mine by email. Perhaps my kids will do theirs by text, and my grandchildren by hologram. Who knows what the future will bring to the Ballantyne Networking system?
What I do know is that the email interview connection process had two big impacts in my business. First, a relationship was built with the 'movers and shakers' of my industry. These experts now knew me, liked me, and trusted me, and therefore were willing to recommend my email newsletter to their readers. As a result, my email list grew and more readers began contacting me for workouts.
Second, by being associated with these other experts, some of their credibility rubbed off on me. My readers now elevated my status in their opinion because I knew all these other great experts. This increased the level of trust that my readers had in my work and therefore became more likely to purchase my products.
All the time I was doing this I began building up an epic contact spreadsheet. In one column was the expert's name, in a second column was the date they were last contacted, and in a third column was information I wanted to share with them. This third column is important and featured content that would add value to the expert. It wasn't about helping me. It was about helping them.
Read those three steps again. Step three contains a big lesson because today most experts almost exclusively receive requests for help, such as an appeal to promote a product they aren't familiar with. Rarely does an expert receive any offers of help, and so when you contact someone with information that adds value to their life without trying to extract value, your communication will be appreciated and it is much easier to build a relationship.
Start building your contact list today. Write the names of all the important people in your life in one column. In the second column, note the last time you contacted them. And in that third column, build a list of tips and information that will add value to their lives. Try not to let a month go by without adding value to the people who are important in your life and business. Of course, if you find something time-sensitive that can help someone immediately, then contact that person as soon as you can.
In fact, by using this system, you can double your income. That's what happened for Vince Palko, copywriter and ad toon artist, when he implemented a similar system. At one point, Vince was struggling to get business, but after reading Brian Tracy's book called "Goals", he came across this simple piece of advice, "If you want to double your income, then double the amount of people that you're either on the phone with or in front of every day."
Vince realized he had only been contacting one person each day, so he immediately doubled his efforts. He also started tracking his contacts by printing out the calendar on his computer and writing down everything he did. If he called a prospect named Joe that day, he would write that down. Vince also added a unique third step to his system where he rewarded himself for implementation. It's something so simple you might even want to dismiss it. But I warn you not to. It could be the missing step in your networking plan.
What Vince did was put a little sticker beside every contact that led to a business deal. As he continued his increased networking, he noticed that more and more stickers started getting added to his calendar. As Vince said, "There was something magical about these stickers. It was a great way to track my progress. At the end of the month I could look back and see where I had success and it was a great momentum builder and motivation to keep going."
That's the power of keeping track of your contact list and connecting action with accomplishment.
This system also works for connecting with people you don't know. Simply make a list of the people you want to meet, identify something of value that you can add to their lives, and then find out how to contact them. Don't be afraid of using this thing called "regular mail" or even Fed-Ex. Sometimes that's the only to breakthrough and contact people who don't know you yet. But always remember to provide value. The best way to start a relationship with someone is by showing up with a helping hand, not looking for a hand out.
My little spreadsheet has served me well over time. Of course, I can only imagine there's an 'app' for this today, but I'll stick to my million dollar excel Rolodex. No matter how you keep your list, I guarantee that if you start this habit today and add value to the people in your network, this will get you on the fast track to living the life of your dreams.

To get something you've never had, you have to do something you've never done.