Multiple stream income

The signs are clearly written on the wall. Don’t put all your financial eggs into single source of income. 2009 is going to be tough year and many financial and economic analysts believe the worst is yet to come. Despite all the warning signs, many are still hoping for the best and have no contingency plan ahead for the worst case scenario.

It was reported that eighty five thousands and probably more are expected to lose their jobs. Check the following news press release on retrenchment.
If you expect the government to step in and help you when you are retrench then you better think twice! Sure do, government may be able to find you another job but you may have to be mentally prepared to take perhaps 50% pay cut or more. You don’t have much bargaining power when potential employers know you are out of job.

Good for you if your spouse is also working or that you have stockpile for yourself & your loved ones the necessary financial egg nest, otherwise if you are the sole breadwinner in the family then it is imperative that you start to sit straight up and think about multiple sources of streams of income. Of course, there are those who lack ideas and do not know what else to do apart from their full time job. There are also probably those who lack the necessary experience, skills or training to explore other source of incomes. If you don’t help yourself no one will thus sacrifice is a must in some situations.

Lack of knowledge can be overcome through self learning or training, ignorant, procrastination and having the habit of blaming others for our problems will lead you to nowhere. If you are thinking of getting rich quickly through unethical means or many of those get rich quick schemes then my best advice to you is to do nothing at all. Depending on circumstances and your attitude, sometime the best thing to do is not doing anything at all.

No doubt in many circumstances said is much easier than done and many people may not be able to find the time to explore other source of alternative incomes but even then it is no excuse not to start exploring and planning alternative income. Now is not the time to neither indulge in self pity nor procrastinate, the key thing is that one must do is taking massive action to achieved massive results.

Instead of sitting on the coach and waste time watching TV or doing other unproductive activities after hard day’s work such as whining and complaining about your stupid boss, go to the library or talk to your loved ones and family members to get ideas in exploring alternative source of incomes. Consider your family financial situations, commitments and other factors and try to list down the list of possible side income ideas that you could pursue outside your normal working hours.

Set out clear goals with regards to achieving multiple streams of income and don’t put off or wait on what you can do today. Don’t give yourself excuses that you need to do this or that first before considering taking actions towards achieving your goals.

Whether it is a business or a part time job that you are considering getting into apart from your main job, never allow circumstances to cause you to sidetrack from achieving the goals that you have set up.
 
If you work 5 days a week, consider sacrificing Saturdays to work towards achieving your goals that you have set, and if possible consider allocating 1 or 2 hours each weekdays after your regular work hours to building up your part time job or business. It is important to keep the momentum moving and not to lose pace and interest when working towards your goals. Rome is not built in a day so to speak and it may be many months or even years before you see your efforts bear fruits.

Put it in another difference perspective, always ask yourself the question of what would you do if you lose your job today? Will you have sufficient savings to tide you over the next few months or even years? Will you be able to treat the layoff as well deserved long break that you should’ve taken long time ago and perhaps go on long vacation and relax yourself? Or do you see yourself in desperate situation and suffering from sleepless nights wondering how to feed your family and loved ones?

As for me I am tired of working for others, I am tired of being told what to do, I am sick and tired of having to deal with ridiculous workload and demands and last but not least I long to work from anywhere I like, the freedom to work as and when I like…

The choice is yours, the battle is yours.

USA blame others for her economic and financial woes

Just barely a week since Obama take the oval office, the US President is showing sign of just how good or rather how screw up he could be in managing the USA economy. Instead of cleaning his own country economy and financial backyard, this US black president is pointing the gun at China and blames her for US economic and financial woes.

President Obama believes that China’s intentional efforts to manipulate and keeping the Yuan currency value below the market rate is causing hurt to US economy. To make matter worst, the new US Secretarial of State Hilary Clinton wants US to be more firm and tougher in engaging China with regards to human rights and political and economic issues.

President Obama and his new administration will stop at nothing to use his own tax payer money to fund big US corrupted and badly mismanaged corporations staying afloat so that the top executives can continue to splurge on tax payer money. While billions of dollars were being approved to help some of the major corporations, it is a fact that quite a high number of top executives from these cash strapped giant corporations continue to receive millions of dollars as bonuses and spending like nobody business.

It was reported that Merrill ex boss ‘John A Thain’ receives almost three to four billion dollars of annual bonus despite the company appalling performance and imminent bankruptcy. The top executives of AIG were reported to be splurging on company sponsored expensive holiday cum business trips up to the day before the company announce it’s at the brink of collapse.

Americans in general like to live on credits. A large number of the population like to max out their credit cards and splurge on big items such as expensive cars, big houses and nice vacations. American spending habits are deeply ingrained by belief that the government will pay for the population retirement pension funds. The United States is the world’s biggest debtor and not surprisingly China is the largest investors of US bonds and holder of US currency and in that sense China’s growth is beneficial to the US.

China remains the largest country which extends loans to US. Interesting, not many people are aware that every single US citizen owns a poor farmer in China several hundreds of dollars, if not thousands of dollars. In other words, in analogy, every US citizen is indebted to a poor common China folks who earns a meagre sum. China’s tax payer money is being shoved to buy US dollars and the US bonds so as to keep the US currency afloat.

US have nothing to gain but everything to lose if it were to go on direct confrontation with China. If President Obama is smart enough, he would focus on cleaning up his own country mess and do self improvement before pointing the finger at others.

There is a joke regarding HP, the world’s number one US printer manufacturer as to why the company does exceptionally well despite the ongoing economic woes? Simply because the US is too busy printing money and HP is the number one printer of choice thus there no decline nor shortage in demands for the HP printers!:)

Sales copywriting

Another big common mistake that Internet Marketing newbie make is overlooking the importance of sales copy writing. Poor sales copy letter simply translate to poor conversion rate.

One of the most difficult aspects of Internet Marketing is writing effective sales copy letter. Copywriting is very much an art as much as science. What is copywriting? It is the art of convincing or inducing the most required response through best and effective persuasive writing. Effective and good copywriting employs principles of marketing and psychology.

Since we can’t interact with customer ‘live’ and in person so to speak when dealing with online business, it is imperative that a sales copy letter is captivating and draws the attention of the user or potential customer to further take action such as buy products or services.

Research indicates that by and large in general a user only spends at most 30 seconds surfing any particular website and during the 30 seconds or so would have decided whether to move on to other website or further explore what the current website has to offer in terms of contents, promotion and etc.
Good copywriting makes a huge difference to the conversion sales rate. A good sales copy letter can increase the visitor to action ratio. Increase conversion from visitor to action buying customer means increase sales profits.

It takes time to master the art of successful copywriting. If you are short of time, you can pay someone or outsource copywriting of your sales page to third parties. Good copywriters normally charge high fees though thus it is always to your advantage to learn to write effective copywriting yourself.

Multiple products

Another common mistake that Internet Marketer newbie make is putting all eggs into a single product basket. In other words don’t build your business based on one product only. Keep on developing multiple products or services for your customers and audiences.

Of course that doesn’t mean you have to develop multiple products or services concurrently. Do researches on the market you are targeting and find out customers wants and needs. Develop the necessary system to quickly develop the product or services and start selling it. Repeat the cycle again and again quickly.
Successful Internet Marketers rarely depend on selling just one product for a living. There is always a possibility that one or more of your products or services might not takes off as expected hence the need to sell multiple products or services.

Mistakes that Internet Marketer newbie makes.

One common mistake that many Internet Marketer newbie make is developing a product first and then tries to find a market for it. The process should be the reverse, explore the market first, size up the potential return for that market, find out what consumer wants and then develop a product or service around it.
One of the challenges faced by IM newbie is where to begin with regards to market research and figure out what products to market. A big mistake that some IM newbie commit is trying to make money within the Internet Marketing industry.

No doubt there’s huge market demand and profit to be made in the Internet Marketing arena, the competition though is aggressive, tough and usually dominated by the big guys, those so called Internet Gurus so to speak. Of course that does not mean you have no chance in competing against the bigger and more experience Internet Marketers, it is just that you wouldn’t want to compete head on with those who has well known good reputations, bigger lists and more experience selling Internet Marketing products.

Try to consider other niche market to begin with if you are a newbie instead of going directly into pure Internet Marketing. Firstly determine your area of interest, topics which you are familiar with and have experience and insights. It takes some time to identify the niche market associated with the area or topic that you have identified.

Checkout online forums on area of interest and gather as much information about the market that you intend to enter into. Forums and discussion groups such as Yahoo answers, Google Zeitgeist, eBay Pulse are some of the websites that may provide you with hot topics. Take your time to study the market that you have identified, talk to your friends and if possible try to get an Internet Marketing mentor to help you out with your first Internet Marketing business.