ETR: "Junkies" Are Your Best Customers

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September 4, 2009 - Issue #2761

Why I "Flip-Flop" Proudly Dear ETR Reader -- Opinions. Some people treat them like pets. They love them. And feed them. And groom them when they get shaggy. They grow attached to them. They can't bear the thought of losing them or letting them go. I was reminded of this the other night when several friends and I discussed Obama's healthcare program. I voted for Obama because he is intelligent and pragmatic. He seemed like someone I'd hire to run one of my businesses. I thought his healthcare plan was idiotic. But I stuck with him because he meant well -- and what the hell did I know, anyway? I was loyal when his plan was going to raise my tax rate to 45 percent and then 46 percent and then 47 percent. But when this bad idea was going to cost me more than half my income ... I changed my mind. "I don't support him anymore," I said. That statement shocked everyone. "How could you change your opinion?" they wanted to know. For them, favoring a political candidate is an oath of allegiance. Once you take a position, it is cowardly and disloyal to abandon it. As a businessman, I change my opinions all the time. If I am given new information on some project that suggests a different course of action would be better, I make the change. I'm not unusual in this respect. It is what all smart businesspeople do. You can quote me on this: The entrepreneur who treats his moneymaking ideas like cherished pets is a businessperson who will soon be out of business. In today's issue: Wealthy: When Long-Term Investors Should Look at the Short Term Healthy: Would You Rub Harmful Chemicals All Over Your Body? You Probably Do Wise: Bob Bly on Why You Should Love Your Competition ---------------------------------------------- Highly Recommended ---------------------------------------------------- Become the Next Depression Millionaire - The only condition we put on using the "Multiplier Effect" is to ask you to limit your profits to $10,000 a week. We don't want the "good old boys" to get wise and change the rules again. Read more ... --------------------------------------------------------------------------------------------------------------------------- Is There Too Much Competition in Internet Information Marketing? By Bob Bly Does the idea of selling information products on the Internet appeal to you? It does to GL, one of my subscribers. But she is hesitating about whether to even start. GL is worried that there are already more than enough people hawking e-books, DVDs, and courses on the Internet. "Isn't the Internet already overcrowded with a million info marketers selling look-alike products on everything from dating to real estate?" GL asked me the other week. "Aren't I getting into the game too late to carve out a piece of the Internet profit pie for myself?" Fair questions. Yes, you are getting into the game a little later than some of your peers. But so what? The old saying -- better late than never -- is true. And, in fact, there is still a huge opportunity to make your fortune online. Newbie Internet marketers despair that there is too much competition on the Web -- and, therefore, no room for them. What they do not understand is that the information business is not competitive in the way most other businesses are. A consumer shops and makes a decision to buy, say, a certain model washing machine when her old machine breaks down (as my wife did a few weeks ago). If the consumer chooses your brand -- or buys from your store -- you have her money. And all the other wash machine manufacturers and retailers have lost that chance to sell to her. After all, she needs only one washing machine. And new machines typically last at least 10 years. With information products, it is a bit different. It's more like the video game market than the appliance market. ---------------------------------------------- Highly Recommended --------------------------------------------------- Since When Does $14.95 a Month = Free? - Credit monitoring companies are just as shady as identity thieves. They could even be in your bank account right now. Ka-Ching Editor Matthew Adams shows you how to stop them. --------------------------------------------------------------------------------------------------------------------------- Kids don't buy and play one video game. They buy game after game. They are video game junkies. And they'll spend a small fortune feeding their "habit." It's the same with buyers of information products. They are "information junkies." They buy many "how to" products -- e-books ... DVDs ... tele-seminars ... and e-courses -- on their favorite topics. That means they will buy your info products in addition to your competitions' -- not instead of. The first thing you should do if you are thinking of selling info products online is to Google your subject. If no one else is selling info products on the same subject, you have no competition. But that's bad. It probably means others have tried and found no demand. On the other hand, when you Google some subjects, it seems like there is an almost infinite number of sources for information ... and you despair of being able to break through the clutter. The way to do it is to narrow your focus. Find a niche within that broad topic -- a subtopic (a) that people want to study and (b) about which there is a scarcity of good content. For instance, "Make money on the Internet" is an overcrowded topic -- one I would not recommend going into. But there is plenty of room for niche products centered around making money on the Internet. I saw one recently about how to market on Facebook. If you are an Internet marketer, doesn't that sound like something you should learn? Let's say you come up with a narrow niche topic that doesn't appear to be overcrowded. Use a free keyword research and discovery tool like www.spacky.com to make sure Internet users are searching for that information. Check keyword phrases related to your topic (e.g., "marketing on Facebook"). Then see how many people are searching those keywords on Google. Once you've determined that there's a market for your niche topic, you can go ahead and develop an info product to sell. And don't let the idea of creating your own info product intimidate you. It's not all that hard. Trust me. P.S. It takes only a few simple steps to create your own information products from scratch. And with the help of my Internet Cash Generator program, you can learn to effectively market and sell those products -- using the same tactics and techniques I use in my own part-time $25,000-a-month Internet business. --------------------------------------------------------------------------------------------------------------------------- More from Masterson... What Investors Can Learn From Traders Both traders and investors can make money in the market. However, they tend to do it differently. Traders look at the stock. Investors look at the company. A trader typically moves in and out of a stock quickly, trying to take advantage of short-term price momentum. An investor looks at a company's fundamentals. But long-term investors can learn a few things from their more active brethren, says IDE's Bob Irish. Not by constantly buying and selling but by employing a well-defined sell discipline. Since investors "buy and hold" for the long term, they tend to "buy and forget." Never forget your original reason for owning a company. Write it down. Revisit your rationale regularly. Ask the question "Would I buy this today?" If the answer is no, it's probably time to sell. If the answer is yes and the price is lower than the price you paid, it probably makes sense to add to your position. And whenever you buy a company, establish a target sell price. Even quality companies can become overvalued. This "stop loss" tactic, a favorite of traders, will ensure you don't lose your shirt if the stock drops. ---------------------------------------------- Advertisement --------------------------------------------------- Don't Make a Trade Until the Market "Tells" You - His software applications and trading books are required tools on Wall Street. And now his new program for private investors has just been released. It detects "hidden" market signals. One of the first people to use this method recently made $37,948 in just a few days. And he's got only 89 spots left. --------------------------------------------------------------------------------------------------------------------------- Protecting Yourself From the Harmful Effects of ... Sunscreen Skin cancer and premature aging are serious effects of overexposure to the sun. But, as Total Health Breakthroughs Editor Melanie Segala points out, sunscreen is not the solution. Sunscreen is chock full of industrial chemicals that can cause Parkinson's and Alzheimer's when inhaled. Melanie says a three-year study is planned to find out if they cause the same brain damage when absorbed by the skin. But I don't plan to wait for the results. And neither should you. Follow the advice of Dr. Sears and Jon Herring. In their book Your Best Health Under the Sun, they recommend using natural "sun blocks" -- shade, clothing, and umbrellas. If you need more protection, go with zinc oxide. It blocks the sun physically instead of chemically. --------------------------------------------------------------------------------------------------------------------------- "I didn't recognize ETR ... but now I found you again." "I admit it's taken me a minute to adjust to the new format. Initially I was missing ETR completely because I didn't recognize it as my oldest e-mail newsletter subscription. "Now that I 'found' you again I am enjoying the concise version you are currently offering. It reduces my e-mail reading time significantly but continues to yield articles of interest and benefit to me. Thank you." Leona Simon Center Ossipee, NH --------------------------------------------------------------------------------------------------------------------------- Today's Words That Work: Hawking Hawking -- from the Middle English -- is offering goods for sale in public. The word was originally connected with peddlers who aggressively sold their wares by going door to door or shouting in the street. Example (as used by Bob Bly today): "GL is worried that there are already more than enough people hawking e-books, DVDs, and courses on the Internet." --------------------------------------------------------------------------------------------------------------------------- We want your feedback! Let us know your thoughts on today's issue. Email us at: AskETR@ETRFeedback.com

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