Mirror Mirror On the Wall, Who's the Fairest Of Them All?

Written by Elena Fawkner


Mirror Mirror Onrepparttar Wall, Who'srepparttar 117811 Fairest Of Them All?

2002 Elena Fawkner

How do you create wealth? Wealth is created by:

=> Finding a product or service that a lot of people want and need.

=> Getting repeat business out of it.

=> Choosing that product or service by looking at trends and staying ahead of them.

=> Employing others so you get more done.

=> Employing and training others effectively.

=> Not training competitors but retaining leaders in your organization by offering themrepparttar 117812 same opportunities for growth as you enjoy.

[Source: "Brilliant Compensation" video by Tim Sales and Dr. Charles King, Professor of Marketing atrepparttar 117813 University of Chicago. Link atrepparttar 117814 end of this article.]

A PRODUCT OR SERVICE THAT A LOT OF PEOPLE WANT OR NEED

There's no point pursuing a business selling a product or service for which there isn't a market - a HUGE market.

What'srepparttar 117815 biggest market of them all? Baby boomers.

Baby boomers are all people born from 1946 through 1974. They total 76 million people inrepparttar 117816 United States and 2 billion people worldwide. As at today, they'rerepparttar 117817 people aged between 38 and 56.

As you'll see when you watchrepparttar 117818 video, every 8 seconds forrepparttar 117819 next 16 years, someone will turn 56 years old. What does this mean for you? It means don't go after repparttar 117820 38 year olds, go afterrepparttar 117821 56 year olds. You have a full 16 years to go after 56 year old people looking for your products or services.

REPEAT BUSINESS = CONSUMABLE PRODUCTS/SERVICES

Your product or service must be unique and it must be consumable. If it's not unique you have to compete on price and convenience. If it IS unique, your market comes looking for YOU.

If your product is not consumable, you're out of business until your next sale. A successful business requires REPEAT sales of consumable products. This way, you're earning multiple commissions on a single initial effort.

STAYING AHEAD OF TRENDS

Having identifiedrepparttar 117822 baby boomer market as THE market to target, when choosing your product or service, in addition to being unique and consumable, it should be one that your average 58 year old is inrepparttar 117823 market for.

The top five:

1. Health 2. Looking younger 3. Retirement issues 4. Security and money 5. Efficiencies - things that make life easier.

EMPLOYING OTHERS TO GET MORE DONE

There are three basic ways of earning money:

1. Work for someone else. 2. Be a professional - doctor, attorney, accountant, engineer. 3. Own your own business.

Inrepparttar 117824 case of 1. and 2., you exchange your expertise for someone's else's money. Unfortunately, however, your capacity to earn is limited byrepparttar 117825 number of hours inrepparttar 117826 day. No matter how hard you work, there will only ever be 24 hours in a day.

Inrepparttar 117827 case of 3., if you do it all yourself, you still run out of time and talent. To break throughrepparttar 117828 time alent barrier, you MUST employ others, thereby leveraging off repparttar 117829 efforts of your employees. That'srepparttar 117830 key to wealth. In theory, that is. Only thing is, it's very difficult to achieve leverage through employees because no employee will ever work as hard in your business as you do because they don't have an ownership interest in it.

Are You FINALLY Ready to Stop Failing Online?

Written by Jeffrey Lant


How many of your online ventures have failed?

One? Two? 50?

Every single dayrepparttar walking wounded ofrepparttar 117810 Internet contact me to report onrepparttar 117811 number of times they've tried something online, only to fail -- again.

There are, of course, lots of reasons why they fail, but one HUGE one is that they're trying to build something out of nothing, trying to get it all for free -- astonished when that futile approach just won't work.

Does this describe you? Have YOU been trying to build a business out of free stuff and only free stuff -- a free domain, a free listserver, a free follow-up autoresponder, etc? If so, it comes as no surprise to you that this approach is ridiculous. It won't work. It can't work. It has never worked. And millions are sadder (and one hopes wiser) because they tried it -- and failed.

What works is what (all too uncommon) common sense tells you works:

* finding a company that offersrepparttar 117812 tools you need for a reasonable price, including domain hosting, website design and technical assistance

* representing good quality products and services that people want and which can be offered for a reasonable price

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