Using Repackaging to 'Go Big' with your Online BizWritten by Andrea J. Lee
It's actually quite common for online business owners to find themselves stuck. So let's start with a bang and talk about one of best ways I know to give your online business a real-world boost. Come to understand concept of 'Repackaging' or 'Repurposing' When I go to grocery store in month of November, I always shake my head in admiration. The reason is it's pretty obvious what Big Chocolate companies have done, isn't it? They've taken same chocolate product and changed packaging (switched giant plastic bags for high-end boxes.) It doesn't matter if it's Cadbury, Hershey or Lindt...you're looking at very same chocolate only put to a new purpose...helping us celebrate Christmas instead of Halloween. Brilliant. And a critically important lesson for online biz owners. So here's question to ask yourself: "What intellectual property do I have that I can (quickly and with relatively little effort) repackage and sell to a new set of customers?" Answer: Step 1: Start by listing your current inventory of intellectual property. Dig deep and don't overlook obvious. If you've created a one-page website, terrific, put it on your list. Other things to list include lesson plans, graphical banners, audio clips, TeleClass titles you've led, even list of ideas in your notebook is part of your IP inventory...you don't have to have a website. Other more traditional items are CD sets, workbooks, assessments, your ezine, eBooks, etc. Step 2: Now brainstorm how to make your material new again. Make a list of how your current inventory can be repurposed. Can your eZine issues be compiled into an eBooklet? Maybe your eBook can be chunked into 52 issues of a weekly tip eZine...perfect to attract visitors to your website. Do this for as many items in your inventory as you can, and by all means list as many new purposes for each that occur to you. Filled in, this worksheet will become your list of "gold nugget" projects, to return to when time or budget permit.
| | Buy Now, Retire Later-An Investment In Your DreamsWritten by Elaine VonCannon
Owning A Second Home Is Easier Than You ThinkBuying a second home is a serious financial commitment, but it is can also lead to a feeling of complete freedom. It can provide you with a vacation home, a place to escape from your mundane routine and an investment in future for when you retire. Aging and wealthier households, smaller families and new technologies that allow professionals to work from remote places are all significant demographic trends. These trends indicate that buying a second home is becoming a more reasonable option for many Americans. The recent changes in tax laws are also making second home purchases more affordable. Strategically planning your purchase, consulting a trusted professional and taking your time are keys to making perfect investment. Strategies For Retirement Investments Planning for retirement early is smart, especially now. Many experts believe that as Baby Boomer generation gets closer to retirement property values will increase at a rapid rate. More people will be buying second homes in high demand locations so locking in a lower price now can save thousands. If you are buying a house you want to retire in later be certain to consider all possible changes and growth for area. Many times development and increased populations change face of a seemingly perfect location within just a few years. Another alternative to consider is investing in a home and using it as rental property first. At retirement you can choose to improve and make rental home your primary residence. You can then sell or exchange and buy retirement home of your dreams. Tax Advantages Can Be Found Everywhere Regardless of avenue you take to invest in your retirement, IRS offers tax advantages in a wide variety of ways. Mortgage interest and local and state real estate taxes are all deductible if you live in your second home a portion of year. Write offs are limited to two homes. If you rent home for less than 15 days you do not have to claim rental income or pay taxes on it. If you rent your second home more than 15 days you must report rental income. However, now all of expenses used to run property are deductible. Property taxes, interest, insurance, repairs, utilities, supplies, cleaning and maintenance are all considered expenses. Equity in your first home can also help with purchase of a second home as a retirement investment. A home equity loan or line of credit can be used to cover down payment on a second home. Be aware however, that borrowing in this way only allows first $100,000 of equity debt to be written off.
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