Taxes on wealth or simply wealth tax is the tax levied on the value of wealth owned by a person. As the term ‘wealth’ carries with it a broader meaning, generally capital transfer taxes (which include inheritance tax and gift tax), property tax, and capital gains taxes are some times invariably referred to as wealth taxes.
Taxes on wealth were first introduced in Europe, aimed at reducing the growing wealth gap between the rich and the poor. It was meant to raise revenue for addressing pressing social requirements and also to discourage the attitude towards amassing wealth.
Still, in countries across the world, majority of wealth is concentrated at the hands of fairly small number of people. Ideally taxes on wealth cuts down the disparities in wealth rather than the income, which actually is the determinant factor on how the scales are weighed for the next generations.
Also, taxes on wealth can bring about vertical as well as horizontal equity, which income tax fails to achieve. For example, neither a wealthy person nor a poor one with no income will pay income tax. But the wealthy ones need to cough up wealth tax while the poor need not.
But, as critics puts down, taxes on wealth can actually cause inefficiency by discouraging wealth producing economic initiatives. Also, the revenue generated by imposing taxes on wealth may not be that productive as the theory suggests. The wealthiest form only a small percentage of the population and by nature they are adept at avoiding taxes while remaining themselves within the contours of law.
Taxes on wealth comes in two forms – the capital transfer taxes that are levied when wealth change hands and the annual wealth taxes. Capital transfer taxes can occur either at death – also called inheritance tax – or via donation (gift tax). Some people tend to believe that Capital Gains tax to be a form of taxes on wealth. But in realty, capital gains tax is the taxation on the income obtained on capital and not a wealth tax on the capital.
Ideally, taxes on wealth should not be severe on the tax payers even if they have lots of wealth. Instead, after the minimum slab of no taxation, the taxes on wealth percentage should increase at increments, depending on the value of wealth in dollars. Such a fairer taxation not only increases the revenue but also goes a long way in bringing down the inequality aspect as well.
But with intelligent investing, one can save a lot that other wise goes as wealth tax. But that requires careful thought and advanced planning. May be a tax professional could help one in this regard.
Jakob Jelling
Tuesday, 17 November 2009
Be Wise - Strive For Total Wealth
When we lack certain things, the joy of living is diminished. In some instances we may become severely distressed and even incapacitated by such lack. When we are sick, in other words, when we lack good health, it is not a happy situation and we do all we can to regain our health. When someone is poor, that is, when they lack money and material possessions, life is not very enjoyable. Such a person is not able to live the way they wish or do the things they want. Poverty oppresses and incapacitates. As individuals and as nations, we all are desirous to distance ourselves from poverty.
Likewise, life is not so full and joyful when we fail to find happiness and fulfillment in relationships and in our work. (By relationships, I mean relationship with God and with our fellow human beings). The deep desires we have to commune with deity and to love and be loved by others are emotional needs we are born with. And so we find that human beings experience want in three identifiable areas. Life requires us to cope with physical, material and spiritual wants.
The saying, "health is wealth" implies that someone in good health can be said to have physical wealth. When a person has a lot of money and material possessions we describe them as being materially wealthy. In the same vein, when someone finds happiness and fulfillment in relationships and in their work, they can be said to possess spiritual wealth. And this brings us to the concept of total wealth. To have total wealth is to be completely free from physical, material and spiritual lack. This is the holistic model of success. A person is truly wealthy only when they have gained total wealth.
In general, people tend to be primarily concerned with their material well being. Hence they focus on striving for material wealth. But thanks to the likes of Jane Fonda, the American fitness buff who helped to popularize the "keep fit" trend. There is now an awareness of the health risks inherent in the sedentary life style engendered by technological advancement. These days, being healthy is not just about being free from sickness. One has to be physically fit. Lots of people are now adopting the proactive approach of exercising regularly to maintain good health and keep fit. Many have realized the need to actively pursue wealth of the physical kind.
However, acquiring spiritual wealth is one goal most people cannot be said to be striving hard to attain. And to think that this ought to be our first priority. When someone gains spiritual wealth, they are guaranteed to also gain material and physical wealth. If you have any reservations about this assertion, then listen to the wise counsel of one of the world's greatest spiritual luminaries, Jesus Christ of Nazareth:
"Therefore I tell you, do not worry about your life, what you will eat or drink, or about your body, what you will wear. Is not life more important than food, and the body more important than clothes? Look at the birds of the air, they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Who of you by worrying can add a single hour to his life?
"And why do you worry about clothes? See how the lilies of the field grow. They do not labor or spin. Yet I tell you that not even Solomon in all his splendor was dressed like one of these. If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you, O you of little faith? So do not worry saying, 'What shall we eat?' or 'What shall we drink?' or 'What shall we wear?' For the pagans run after these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well." (The Bible, Mathew 6:25-33).
But what is there to lose if someone chooses not to bother with the pursuit of spiritual wealth? The answer to this question can be found by taking a close look at the lives of some prominent individuals.
When it comes to fame and fortune, very few people can match Michael Jackson. He rose so high as a star that the tag, superstar was just not good enough and so he was dubbed, megastar. The singer undoubtedly raked in fabulous amounts as earnings from record sales worldwide. But in spite of his phenomenal career success, he did not find happiness and fulfillment in close relationships. His marriage to Priscilla Presley did not turn out to be blissful. He was involved in other relationships that ended on a sour and acrimonious note with settlements taking place in and out of court. Michael Jackson may have ranked as one of the richest and most famous men in the world, but he certainly was not one of the happiest. Fame and riches are simply not enough. We need spiritual wealth to guarantee happiness and fulfillment in life. (The King of Pop, Michael Jackson, died on 26 June 2009 of heart attack at the age of 50).
The late Princess Diana had everything going for her, it seemed. She became a member of one of the world's most loved and respected royal families by marriage. In terms of material wealth and social status, her union with British royalty catapulted her to the very top. However, the love of God and fellow man, which are pointers to spiritual wealth, were not particularly evident in her private life. In marriage, the closest of human relationships, happiness and fulfillment eluded her. In time, she slid from the position of dream princess to the level of adulterous spouse and then chose to tag along as girlfriend to a wealthy businessman. We all know the tragic end to her story. She was killed in a car crash while on a trip with her lover.
As monarch of an oil producing Arab State, the late King Hussein of Jordan enjoyed the affluence and influence that come with his position. But while all was well materially, he was wanting in physical wealth. Even the best doctors in the United States could not save him from the cancer that put an end to his reign while he was still in his sixties. Money cannot always secure good health much less procure longevity. Only the possession of spiritual wealth will enable us attain and maintain happiness, good health and success in life.
In the Parable of the Rich Fool, Jesus confirms that there is a price to pay when we fail to make acquiring spiritual wealth our first priority, (The Bible, Luke 12:13-21):
"Someone in the crowd said to him, "Teacher, tell my brother to divide the inheritance with me." Jesus replied, "Man, who appointed me a judge or an arbiter between you?" Then he said to them, "Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions."
And he told them this parable: "The ground of a certain rich man produced a good crop. He thought to himself, 'What shall I do? I have no place to store my crops.' "Then he said, 'This is what I'll do. I will tear down my barns and build bigger ones, and there I will store all my grains and my goods. And I will say to myself, "You have plenty of good things laid up for many years. Take life easy; eat, drink and be merry."'
But God said to him, 'You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?' This is how it will be with anyone who stores up things for himself but is not rich towards God."
If the reader is still not convinced of the wisdom of striving for spiritual wealth, the statement I am about to quote should settle the matter. It was made by someone who has chased after the material as well as the spiritual kind of wealth.
Sir John Templeton is one of America's most successful financial investors. He is reputed to have created some of the world's largest and most successful international investment funds. Later, he sold his various Templeton Funds to the Franklin Group for $440 million. Now in his nineties, he is a full time philanthropist. Through the John Templeton Foundation, which he established, he gives away about $40 million a year to funding work aimed at discovering and advancing scientific knowledge about the spiritual aspect of life. For his many accomplishments, he was knighted Sir John by Queen Elizabeth II in 1987.
Here is what this extraordinary individual has to say about what the pursuit of spiritual wealth has done to his life: "I focus on spiritual wealth now, and I am busier, more enthusiastic, and more joyful than I have ever been."
In terms of quality of life, we all want the best for ourselves and total wealth is the very best that life has to offer us. Be wise, strive for it.
Emmanuel Emezie
Likewise, life is not so full and joyful when we fail to find happiness and fulfillment in relationships and in our work. (By relationships, I mean relationship with God and with our fellow human beings). The deep desires we have to commune with deity and to love and be loved by others are emotional needs we are born with. And so we find that human beings experience want in three identifiable areas. Life requires us to cope with physical, material and spiritual wants.
The saying, "health is wealth" implies that someone in good health can be said to have physical wealth. When a person has a lot of money and material possessions we describe them as being materially wealthy. In the same vein, when someone finds happiness and fulfillment in relationships and in their work, they can be said to possess spiritual wealth. And this brings us to the concept of total wealth. To have total wealth is to be completely free from physical, material and spiritual lack. This is the holistic model of success. A person is truly wealthy only when they have gained total wealth.
In general, people tend to be primarily concerned with their material well being. Hence they focus on striving for material wealth. But thanks to the likes of Jane Fonda, the American fitness buff who helped to popularize the "keep fit" trend. There is now an awareness of the health risks inherent in the sedentary life style engendered by technological advancement. These days, being healthy is not just about being free from sickness. One has to be physically fit. Lots of people are now adopting the proactive approach of exercising regularly to maintain good health and keep fit. Many have realized the need to actively pursue wealth of the physical kind.
However, acquiring spiritual wealth is one goal most people cannot be said to be striving hard to attain. And to think that this ought to be our first priority. When someone gains spiritual wealth, they are guaranteed to also gain material and physical wealth. If you have any reservations about this assertion, then listen to the wise counsel of one of the world's greatest spiritual luminaries, Jesus Christ of Nazareth:
"Therefore I tell you, do not worry about your life, what you will eat or drink, or about your body, what you will wear. Is not life more important than food, and the body more important than clothes? Look at the birds of the air, they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Who of you by worrying can add a single hour to his life?
"And why do you worry about clothes? See how the lilies of the field grow. They do not labor or spin. Yet I tell you that not even Solomon in all his splendor was dressed like one of these. If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you, O you of little faith? So do not worry saying, 'What shall we eat?' or 'What shall we drink?' or 'What shall we wear?' For the pagans run after these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well." (The Bible, Mathew 6:25-33).
But what is there to lose if someone chooses not to bother with the pursuit of spiritual wealth? The answer to this question can be found by taking a close look at the lives of some prominent individuals.
When it comes to fame and fortune, very few people can match Michael Jackson. He rose so high as a star that the tag, superstar was just not good enough and so he was dubbed, megastar. The singer undoubtedly raked in fabulous amounts as earnings from record sales worldwide. But in spite of his phenomenal career success, he did not find happiness and fulfillment in close relationships. His marriage to Priscilla Presley did not turn out to be blissful. He was involved in other relationships that ended on a sour and acrimonious note with settlements taking place in and out of court. Michael Jackson may have ranked as one of the richest and most famous men in the world, but he certainly was not one of the happiest. Fame and riches are simply not enough. We need spiritual wealth to guarantee happiness and fulfillment in life. (The King of Pop, Michael Jackson, died on 26 June 2009 of heart attack at the age of 50).
The late Princess Diana had everything going for her, it seemed. She became a member of one of the world's most loved and respected royal families by marriage. In terms of material wealth and social status, her union with British royalty catapulted her to the very top. However, the love of God and fellow man, which are pointers to spiritual wealth, were not particularly evident in her private life. In marriage, the closest of human relationships, happiness and fulfillment eluded her. In time, she slid from the position of dream princess to the level of adulterous spouse and then chose to tag along as girlfriend to a wealthy businessman. We all know the tragic end to her story. She was killed in a car crash while on a trip with her lover.
As monarch of an oil producing Arab State, the late King Hussein of Jordan enjoyed the affluence and influence that come with his position. But while all was well materially, he was wanting in physical wealth. Even the best doctors in the United States could not save him from the cancer that put an end to his reign while he was still in his sixties. Money cannot always secure good health much less procure longevity. Only the possession of spiritual wealth will enable us attain and maintain happiness, good health and success in life.
In the Parable of the Rich Fool, Jesus confirms that there is a price to pay when we fail to make acquiring spiritual wealth our first priority, (The Bible, Luke 12:13-21):
"Someone in the crowd said to him, "Teacher, tell my brother to divide the inheritance with me." Jesus replied, "Man, who appointed me a judge or an arbiter between you?" Then he said to them, "Watch out! Be on your guard against all kinds of greed; a man's life does not consist in the abundance of his possessions."
And he told them this parable: "The ground of a certain rich man produced a good crop. He thought to himself, 'What shall I do? I have no place to store my crops.' "Then he said, 'This is what I'll do. I will tear down my barns and build bigger ones, and there I will store all my grains and my goods. And I will say to myself, "You have plenty of good things laid up for many years. Take life easy; eat, drink and be merry."'
But God said to him, 'You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?' This is how it will be with anyone who stores up things for himself but is not rich towards God."
If the reader is still not convinced of the wisdom of striving for spiritual wealth, the statement I am about to quote should settle the matter. It was made by someone who has chased after the material as well as the spiritual kind of wealth.
Sir John Templeton is one of America's most successful financial investors. He is reputed to have created some of the world's largest and most successful international investment funds. Later, he sold his various Templeton Funds to the Franklin Group for $440 million. Now in his nineties, he is a full time philanthropist. Through the John Templeton Foundation, which he established, he gives away about $40 million a year to funding work aimed at discovering and advancing scientific knowledge about the spiritual aspect of life. For his many accomplishments, he was knighted Sir John by Queen Elizabeth II in 1987.
Here is what this extraordinary individual has to say about what the pursuit of spiritual wealth has done to his life: "I focus on spiritual wealth now, and I am busier, more enthusiastic, and more joyful than I have ever been."
In terms of quality of life, we all want the best for ourselves and total wealth is the very best that life has to offer us. Be wise, strive for it.
Emmanuel Emezie
A New Paradigm Shift in Wealth Creation
Creating and amassing wealth is more than just a necessity. For centuries, the practice of climbing the ladder to richness has led to wars, influenced literature, and shaped cultures. Whether wealth comes in the form of money or food, all civilizations have pursued it.
The system of wealth creation is based on the current worldview, which in turn is based on the way science is studied and perceived. Most people will not be aware of existing paradigms of wealth creation. They will be too busy accumulating and creating wealth rather than being concerned with the process which they and their wealth underwent.
Existing paradigms in wealth creation drive economies, and any shortcomings in existing paradigms can lead to changes being made in the wealth creation background. A new science can pique the interest of people and shift investments in different directions. A shift in interest and investments can create new worldviews. With new science and worldviews, a new system of wealth creation can be developed. This paradigm shift can be sustained for as long as the system is relevant. Again, shortcomings will be found, and again, changes will be made. The process goes on.
Primitive humans were nomadic. They moved around and lived from day to day, saving little for stores and subsisting on what food they could come across. As soon as they settled down, and as soon as agriculture became a way of life, humans learned to keep provisions. Keeping provisions meant keeping wealth. Holding wealth gave humans the chance to hold sway over those who held much less wealth. The gap between those who had between those who had none grew and widened.
At this point, localized wealth creation was rampant, and nowhere is this more obvious than in the Medieval Age. Rich landowners employed poor farmers to work as slaves or fiefs. Wealth was amassed by force. Compensation came only if a harvest was successful, and if the fruits of the harvest could be sold. Only a few people had wealth, and they were not very charitable to begin with.
As human skills stretched beyond agriculture, the Industrial Age began, and centralized wealth creation became the paradigm. Slaves became employees who were compensated with wages and salaries. As payments were standardized, so were companies. Monopolies abounded, and competition was low.
Science, however, was on the upswing, and as more and more people were educated in science, more and more people began to understand industry and its workings. Slowly, competition rose, monopolies were broken, and jobs once given to a few people could already be held by many.
With the spread and abundance of industries came advances in science – and with these advances came discoveries that created more jobs. With vaccination came epidemiologists. With the discovery of DNA came molecular biologists. With the Internet came web designers, graphic artists, and database creators.
With the rise of the information age came mass privatization. The wealth creation paradigm consisted of communities without boundaries, where everyone could specialize in everything. A scientist could be a journalist but specialize in nuclear physics. An academician could be an economist consulting with the government on the feasibility of introducing new agricultural crops. As the World Wide Web crossed slowly through the world, careers crossed paths with each other and merged.
If the Medieval age brought power to the hands of the land-wealthy, and if the Industrial age bowed to those who were industry-wealthy, the Modern age shifts wealth to those who possess brains. The world's wealthiest man is Bill Gates, a nerd who is still laughing all the way to the bank.
The mass privatization of the modern age has seen companies helping each other move forward. If a food company wants progress, it must consult with scientists to conduct safety tests on its products, nutritionists to proclaim its products as superior, advertising agencies to market its product, and complete eBusiness solutions to move the mortar-and-brick office to the Internet.
The paradigm is all about teamwork – to create wealth, everyone must help each other succeed. No longer are the lesser indebted to make the greater richer. Everyone has to run the race, but everyone must hold hands to reach the finish line together.
Some researchers have called this the age of free intraprise, the age of mass decentralization of wealth creation. This is an age where anyone and everyone can be rich, and where anyone and everyone can do so without being answerable to a higher power. People not only receive salaries or wages – they can receive compensation based on their worth, or a percentage of what they have sold. They can make wealth and receive it in various ways.
With the Internet bringing people together, the world has become one large family. The potential to create and amass wealth is no longer with one person – it is given to many, and yet these many elements working apart must still work together in order to succeed individually.
For the moment, with knowledge readily available, and with intelligence prized, the current paradigm seems suitable. How long it will last, and what will happen next, however, is still beyond the predictive powers of today's brain-driven society.
Daegan Smith
The system of wealth creation is based on the current worldview, which in turn is based on the way science is studied and perceived. Most people will not be aware of existing paradigms of wealth creation. They will be too busy accumulating and creating wealth rather than being concerned with the process which they and their wealth underwent.
Existing paradigms in wealth creation drive economies, and any shortcomings in existing paradigms can lead to changes being made in the wealth creation background. A new science can pique the interest of people and shift investments in different directions. A shift in interest and investments can create new worldviews. With new science and worldviews, a new system of wealth creation can be developed. This paradigm shift can be sustained for as long as the system is relevant. Again, shortcomings will be found, and again, changes will be made. The process goes on.
Primitive humans were nomadic. They moved around and lived from day to day, saving little for stores and subsisting on what food they could come across. As soon as they settled down, and as soon as agriculture became a way of life, humans learned to keep provisions. Keeping provisions meant keeping wealth. Holding wealth gave humans the chance to hold sway over those who held much less wealth. The gap between those who had between those who had none grew and widened.
At this point, localized wealth creation was rampant, and nowhere is this more obvious than in the Medieval Age. Rich landowners employed poor farmers to work as slaves or fiefs. Wealth was amassed by force. Compensation came only if a harvest was successful, and if the fruits of the harvest could be sold. Only a few people had wealth, and they were not very charitable to begin with.
As human skills stretched beyond agriculture, the Industrial Age began, and centralized wealth creation became the paradigm. Slaves became employees who were compensated with wages and salaries. As payments were standardized, so were companies. Monopolies abounded, and competition was low.
Science, however, was on the upswing, and as more and more people were educated in science, more and more people began to understand industry and its workings. Slowly, competition rose, monopolies were broken, and jobs once given to a few people could already be held by many.
With the spread and abundance of industries came advances in science – and with these advances came discoveries that created more jobs. With vaccination came epidemiologists. With the discovery of DNA came molecular biologists. With the Internet came web designers, graphic artists, and database creators.
With the rise of the information age came mass privatization. The wealth creation paradigm consisted of communities without boundaries, where everyone could specialize in everything. A scientist could be a journalist but specialize in nuclear physics. An academician could be an economist consulting with the government on the feasibility of introducing new agricultural crops. As the World Wide Web crossed slowly through the world, careers crossed paths with each other and merged.
If the Medieval age brought power to the hands of the land-wealthy, and if the Industrial age bowed to those who were industry-wealthy, the Modern age shifts wealth to those who possess brains. The world's wealthiest man is Bill Gates, a nerd who is still laughing all the way to the bank.
The mass privatization of the modern age has seen companies helping each other move forward. If a food company wants progress, it must consult with scientists to conduct safety tests on its products, nutritionists to proclaim its products as superior, advertising agencies to market its product, and complete eBusiness solutions to move the mortar-and-brick office to the Internet.
The paradigm is all about teamwork – to create wealth, everyone must help each other succeed. No longer are the lesser indebted to make the greater richer. Everyone has to run the race, but everyone must hold hands to reach the finish line together.
Some researchers have called this the age of free intraprise, the age of mass decentralization of wealth creation. This is an age where anyone and everyone can be rich, and where anyone and everyone can do so without being answerable to a higher power. People not only receive salaries or wages – they can receive compensation based on their worth, or a percentage of what they have sold. They can make wealth and receive it in various ways.
With the Internet bringing people together, the world has become one large family. The potential to create and amass wealth is no longer with one person – it is given to many, and yet these many elements working apart must still work together in order to succeed individually.
For the moment, with knowledge readily available, and with intelligence prized, the current paradigm seems suitable. How long it will last, and what will happen next, however, is still beyond the predictive powers of today's brain-driven society.
Daegan Smith
Monday, 16 November 2009
Autoresponder - The 24 Hour Business Builder
Why every successful marketer has this tool.
An autoresponder, also called a mailbot, is simply a computer program that answers e-mail automatically. It can be as simple as the setting in your e-mail that responds that you are away on vacation or more complex like the programs used by Network Marketers and large businesses to handle the volume of e-mail traffic they receive every day.
You have probably received several automatic e-mail messages and did not even realize it. When you sign up for something online or make a request to a company's website, the e-mail you receive as confirmation is often sent from an autoresponder. It's a simple way to automate your business.
One of the first things you need to do before setting up the tools you will be using to drive traffic to your web site is to set up your autoresponder. Having a welcome message and follow-up messages is imperative if you are serious about doing business online. The autoresponder allows you to send messages to those who opt in to your list automatically, at a set schedule.
Here's the scenario. Bob goes to your site and opts in to get more information. As soon as he hits the Submit button, the program sends out a welcome message. "Hi, Bob! Thanks for signing up for more info! Please click here to confirm." Once he confirms, he will receive your first real e-mail with the information he is looking for. Thereafter, Bob will receive periodic, pre-written e-mails on a schedule that you set up before he ever filled out the form on your landing page.
The main thing to remember is that your messages should not be a sales ad. Do that, and people will disengage faster than they signed on! Your purpose is to provide value, building trust as the reader gets to know more about you and your product, service or opportunity.
Your messages should be informative, exciting, and compelling. People want to read useful information, or their attention fades. If you do not sound excited (words have a tone, too!) how can you expect THEM to get excited about what you are telling them? There should be a call to action, causing them to make a decision, even if it is not right away. If you have done your job right with these e-mail messages, they will be making an Informed Decision in your favor.
There are four reasons why you need to utilize an autoresponder when building your home based business
*It is crucial to building your LIST, which is the lifeblood of your success.
*It helps keep your name, product, or service in the front of your list members. You want them to remember you, your product, or your service even if they think they have no need for you right now. By reminding your market periodically, they will remember you, like a radio jingle you cannot get out of your head!
*It serves as a reminder as to WHY they opted in to your message and/or bought your product/service in the first place. People have short-term memory, thanks to the bombardment of advertising they face every day. Remind them of what makes YOU different.
*It is like an assistant that helps close the sale. The longer they stay on your list, the more chances you have to sell either your products, business opportunity, or at the very least, the tools you use to run your business.
The long and short of autoresponders is this: If you are not frequently in touch, the interest of your prospect turns cold, and you lose money.
Bernadette Cooper
An autoresponder, also called a mailbot, is simply a computer program that answers e-mail automatically. It can be as simple as the setting in your e-mail that responds that you are away on vacation or more complex like the programs used by Network Marketers and large businesses to handle the volume of e-mail traffic they receive every day.
You have probably received several automatic e-mail messages and did not even realize it. When you sign up for something online or make a request to a company's website, the e-mail you receive as confirmation is often sent from an autoresponder. It's a simple way to automate your business.
One of the first things you need to do before setting up the tools you will be using to drive traffic to your web site is to set up your autoresponder. Having a welcome message and follow-up messages is imperative if you are serious about doing business online. The autoresponder allows you to send messages to those who opt in to your list automatically, at a set schedule.
Here's the scenario. Bob goes to your site and opts in to get more information. As soon as he hits the Submit button, the program sends out a welcome message. "Hi, Bob! Thanks for signing up for more info! Please click here to confirm." Once he confirms, he will receive your first real e-mail with the information he is looking for. Thereafter, Bob will receive periodic, pre-written e-mails on a schedule that you set up before he ever filled out the form on your landing page.
The main thing to remember is that your messages should not be a sales ad. Do that, and people will disengage faster than they signed on! Your purpose is to provide value, building trust as the reader gets to know more about you and your product, service or opportunity.
Your messages should be informative, exciting, and compelling. People want to read useful information, or their attention fades. If you do not sound excited (words have a tone, too!) how can you expect THEM to get excited about what you are telling them? There should be a call to action, causing them to make a decision, even if it is not right away. If you have done your job right with these e-mail messages, they will be making an Informed Decision in your favor.
There are four reasons why you need to utilize an autoresponder when building your home based business
*It is crucial to building your LIST, which is the lifeblood of your success.
*It helps keep your name, product, or service in the front of your list members. You want them to remember you, your product, or your service even if they think they have no need for you right now. By reminding your market periodically, they will remember you, like a radio jingle you cannot get out of your head!
*It serves as a reminder as to WHY they opted in to your message and/or bought your product/service in the first place. People have short-term memory, thanks to the bombardment of advertising they face every day. Remind them of what makes YOU different.
*It is like an assistant that helps close the sale. The longer they stay on your list, the more chances you have to sell either your products, business opportunity, or at the very least, the tools you use to run your business.
The long and short of autoresponders is this: If you are not frequently in touch, the interest of your prospect turns cold, and you lose money.
Bernadette Cooper
How to Find Products For Your eBay Business
If you are looking for a business opportunity why not consider an eBay store. You get a ready made shop front and all your advertising for only a few percent of your turnover. All you have to do is find something to sell. Seems like an ideal business to start. Finding a few products to sell on eBay is easy. Finding lots of products to keep selling over and over again is much more difficult. At the start, I hunted through my house and garage for items to sell and I am sure you have done the same. Then you will have listed them on eBay to make a bit of money. It is great fun and watching the end of an auction can be exciting. However, we are hoping to set up more than just a hobby business. It might only ever amount to a part time income or it may replace your day job. Either way, you are going to have to source a reliable ongoing supplier of whatever products you want to sell. So deciding what you want to sell is the first and biggest challenge.
Firstly I wanted to see if I could find items that could be processed easily for sending out by mail. I did not want to pack and cart bulky items to the post office in the next town several times a week, fighting with cardboard and tape. I wanted to slip the item into a small envelope, apply a pre-determined postage stamp and address sticker and pop them in the post box at the end of the road. Then I worked out if I could get say fifteen to twenty sales every day bringing a gross profit of about $10 each, I would make $50,000 every year. What could I sell that was small, neat, obtainable and was capable of generating $10 every sale? You can see how difficult it is! I tried a number of different products. First I looked at comics and graphic novels. They can be conveniently packed, and carrying a pile of twenty or so every day down to the post would be quick and easy. If I could find a regular source of rare comics I could get the level of profits, otherwise buying from a dealer would give too low a margin. So I looked at stamps and then coins. Again I met the same difficulty, rare items command substantial prices, but buying supplies at the right price is a problem for somebody without detailed knowledge of the product.
In fact you can see that with all three of these items it would be necessary to be an expert in the product and you would have to understand their values in order to obtain them from suppliers at the right price. If you have an expertise as a collector of something, then sourcing eBay supplies in your chosen field is a very good option. The next course of action might be to consider sourcing goods from a foreign supplier. If you import directly from manufacturing countries such as India or China it is possible to buy goods that you can mark up three, four, five or even more times.
This is achieved by buying in bulk direct from the manufacturer. Consider a widget that you buy for $3 at your local hardware store. It may only have cost 10 cents or so to manufacture, but the importer will have purchased in bulk and made a significant margin on the price before distributing it to the shop. But I did not want to import a container full of goods. 200,000 widgets would cost $20,000 and there was not enough room in my garage, spare bedroom and study combined to store them! So I tried fishing flies from Africa. I found a supplier that would send 500 dozen per shipment at $2 per dozen. Good quality artificial fishing flies go for around a dollar a piece, more for special patterns. This seemed like a good idea until the realization sunk in that I needed to spend hours every evening sorting and labeling hundreds of tiny items sometimes worth only a few cents each. It was not the route to riches. If you are successful in finding a good source of items to sell on eBay, your competitors will take note very quickly. As soon as they see you selling a lot they will try to copy you. As a result your sales numbers or selling price will soon drop resulting in lower revenue. Therefore, you must be continually adapting your merchandise for change, coming up with new ideas and sourcing new products.
I have an eBay shop that I operate under a pseudonym. I do not want to tell you exactly what I am selling, but it does fit the bill for a sustainable eBay business:
- It is small, light and packs easily
- It is sufficiently valuable to make each trade worth while
- There are lots of different versions (e.g. sizes, shapes and colors) to attract new customers
- I get a good price from the supplier (even if I do have to buy a lot)
- This product will be affected by competition but is such that I can keep adding to the range
Mark Jenner
Firstly I wanted to see if I could find items that could be processed easily for sending out by mail. I did not want to pack and cart bulky items to the post office in the next town several times a week, fighting with cardboard and tape. I wanted to slip the item into a small envelope, apply a pre-determined postage stamp and address sticker and pop them in the post box at the end of the road. Then I worked out if I could get say fifteen to twenty sales every day bringing a gross profit of about $10 each, I would make $50,000 every year. What could I sell that was small, neat, obtainable and was capable of generating $10 every sale? You can see how difficult it is! I tried a number of different products. First I looked at comics and graphic novels. They can be conveniently packed, and carrying a pile of twenty or so every day down to the post would be quick and easy. If I could find a regular source of rare comics I could get the level of profits, otherwise buying from a dealer would give too low a margin. So I looked at stamps and then coins. Again I met the same difficulty, rare items command substantial prices, but buying supplies at the right price is a problem for somebody without detailed knowledge of the product.
In fact you can see that with all three of these items it would be necessary to be an expert in the product and you would have to understand their values in order to obtain them from suppliers at the right price. If you have an expertise as a collector of something, then sourcing eBay supplies in your chosen field is a very good option. The next course of action might be to consider sourcing goods from a foreign supplier. If you import directly from manufacturing countries such as India or China it is possible to buy goods that you can mark up three, four, five or even more times.
This is achieved by buying in bulk direct from the manufacturer. Consider a widget that you buy for $3 at your local hardware store. It may only have cost 10 cents or so to manufacture, but the importer will have purchased in bulk and made a significant margin on the price before distributing it to the shop. But I did not want to import a container full of goods. 200,000 widgets would cost $20,000 and there was not enough room in my garage, spare bedroom and study combined to store them! So I tried fishing flies from Africa. I found a supplier that would send 500 dozen per shipment at $2 per dozen. Good quality artificial fishing flies go for around a dollar a piece, more for special patterns. This seemed like a good idea until the realization sunk in that I needed to spend hours every evening sorting and labeling hundreds of tiny items sometimes worth only a few cents each. It was not the route to riches. If you are successful in finding a good source of items to sell on eBay, your competitors will take note very quickly. As soon as they see you selling a lot they will try to copy you. As a result your sales numbers or selling price will soon drop resulting in lower revenue. Therefore, you must be continually adapting your merchandise for change, coming up with new ideas and sourcing new products.
I have an eBay shop that I operate under a pseudonym. I do not want to tell you exactly what I am selling, but it does fit the bill for a sustainable eBay business:
- It is small, light and packs easily
- It is sufficiently valuable to make each trade worth while
- There are lots of different versions (e.g. sizes, shapes and colors) to attract new customers
- I get a good price from the supplier (even if I do have to buy a lot)
- This product will be affected by competition but is such that I can keep adding to the range
Mark Jenner
Monday, 9 November 2009
Wealth Creation – Kiss it or Say Goodbye
never thought that I would find myself using the old Kiss cliché ("Keep it Short and Simple" or “Keep it Simple Stupid). I’ve always preferred Einstein’s approach, "Everything should be made as simple as possible, but no simpler."
Yet wealth creating is simple. Incredibly and utterly simple. When creating wealth becomes complicated it’s time to stop and take measure. It’s clearly time to get back on the track of simplicity before one gets derailed.
Wealth creating is not about “running a business” “making money” “investing” “earning an income” “having a great job” and the like. Far too complicated and time consuming for the serious wealth creator. There are, as you know, tens of thousands of books written on those subjects and guess what? The great majority of people still struggle financially through life. We all know of couples who have “great jobs” and are earning “high incomes” and making “heaps of money” yet still struggle to make ends meet at the end of each month. Commitments and expenses seem to sadistically expand to the level of the money available to meet them.
And of course we all know of people who were on very low incomes who end up fabulously wealthy.
So by all means keep at your job or business and retain the status quo – but quite separately, begin your new part time wealth creation program ASAP.
One of the biggest hurdles is that people at some level have the desire to be wealthy but do not know exactly what “wealth creation” is. Those whose real estate or investments rose in value, know that they are “wealthier” but see the obvious element of luck in the fact that prices rose opportunistically. Others coming into the same market, are “on a wing and a prayer” hoping that prices will continue to rise so they too can benefit.
Without knowing precisely what wealth creation is, it is impossible to become “wealth” conscious.
So let’s get Wealth Creation in focus and keep it simple.
Please consider:
A business has a gross annual income and from that total pays all overheads. From the net income or profit (if any) tax is payable. Now the amount that is left, can either be used to create wealth - or it can be spent on non-wealth creating products or services - for example, spending the surplus on a vacation etc.
Similarly a working couple has a combined gross annual income and from that total pays all domestic overheads. Now the amount that is left, can either be used to create wealth - or it can be spent on non-wealth creating products or services - for example, spending the surplus on a vacation etc.
So you can readily observe from the above two examples that there is a difference between “business” and wealth creation and “income” and wealth creation.
Wealth, put simply, is the total realizable value of one’s total material assets. That is if you have antiques worth $10,000.00 or gold worth $10,000.00 or acme widgets worth $10,000.00, your wealth is $10,000.00. Obvious and simple, yes? It’s so simple it’s a no-brainer!
Wealth Creation is NOW whilst investing is about planning (and praying) for the future. A wealth creator wants to multiply the value of his or her realizable wealth total NOW!
That is, if those antiques or widgets are genuinely worth $10,000.00 the wealth creator will buy them at $5,000.00 or less. At the point of purchase, at least $5,000.00 is added to the wealth total. Unlike the speculator or the investor, a Wealth Creator does not buy on the hope or the gamble that the purchase will rise in value. “Yikes - no way! Keep it simple – the golden rainbow of tomorrow may not come. I want my added wealth now – the minute I pay I intend being wealthier. Let others get their crystal ball out and start praying.”
Note that:
A wealth creator spends money and becomes wealthier.
The average punter spends money and becomes poorer.
The speculator gambles.
The investor hopes and prays.
Who of the above has the most fun?
And having fun is part of wealth creation. For example, Bob and June, part time wealth creators in England, keep in touch with me regularly. After reading my book, they used the money they each spend on each other as Christmas and birthday gifts to begin their wealth program. Instead of buying each other a present for $100.00 and knowing that as soon as they leave the shop the value of that present is probably about $30.00 maximum and thereafter declines in value to become a worthless keepsake, they became wealth conscious. He loves early watercolors and she collects estate jewellery. So off to the auctions and sales they went. Once they became wealth conscious and in a wealth program, when they spend that $100.00 on an item, the item is usually worth $300.00.
They’ve been at it now for four and a half years. The two birthday and two Christmas presents added up. They buy and sell when ever possible. Today they have art and jewellery worth tens of thousands of pounds and their wealth total is going up at an astronomical rate. Even more important they have immense fun in the process.
Business proprietors have every right to have all the hassles of working hard, paying the overheads and hopefully making a profit. The wealth creator takes a short cut through the whole tedious process and goes straight for the jugular – WEALTH CREATION.
To a wealth creator liquidating a part of one’s wealth gives the opportunity to increase the overall wealth total. In stark contrast, the business proprietor needs turnover to pay the overheads.
How ever much money you have available for your part time wealth program, two points are clearly obvious. (1) Your money is always limited - so you can afford to be extremely choosy. And (2) because you are always multiplying your wealth by at least 100%, it doesn’t matter how little you have to start with.
Multiply $20 in wealth only 15 times and you are up around the $250,000.00 mark. After that the sky is the limit.
That is why a single wage family following a wealth program and who are able to live within their means, can end up far wealthier than a multiple large income family.
So it’s your decision – when it comes to wealth creation - Kiss it or Say Goodbye!
Yet wealth creating is simple. Incredibly and utterly simple. When creating wealth becomes complicated it’s time to stop and take measure. It’s clearly time to get back on the track of simplicity before one gets derailed.
Wealth creating is not about “running a business” “making money” “investing” “earning an income” “having a great job” and the like. Far too complicated and time consuming for the serious wealth creator. There are, as you know, tens of thousands of books written on those subjects and guess what? The great majority of people still struggle financially through life. We all know of couples who have “great jobs” and are earning “high incomes” and making “heaps of money” yet still struggle to make ends meet at the end of each month. Commitments and expenses seem to sadistically expand to the level of the money available to meet them.
And of course we all know of people who were on very low incomes who end up fabulously wealthy.
So by all means keep at your job or business and retain the status quo – but quite separately, begin your new part time wealth creation program ASAP.
One of the biggest hurdles is that people at some level have the desire to be wealthy but do not know exactly what “wealth creation” is. Those whose real estate or investments rose in value, know that they are “wealthier” but see the obvious element of luck in the fact that prices rose opportunistically. Others coming into the same market, are “on a wing and a prayer” hoping that prices will continue to rise so they too can benefit.
Without knowing precisely what wealth creation is, it is impossible to become “wealth” conscious.
So let’s get Wealth Creation in focus and keep it simple.
Please consider:
A business has a gross annual income and from that total pays all overheads. From the net income or profit (if any) tax is payable. Now the amount that is left, can either be used to create wealth - or it can be spent on non-wealth creating products or services - for example, spending the surplus on a vacation etc.
Similarly a working couple has a combined gross annual income and from that total pays all domestic overheads. Now the amount that is left, can either be used to create wealth - or it can be spent on non-wealth creating products or services - for example, spending the surplus on a vacation etc.
So you can readily observe from the above two examples that there is a difference between “business” and wealth creation and “income” and wealth creation.
Wealth, put simply, is the total realizable value of one’s total material assets. That is if you have antiques worth $10,000.00 or gold worth $10,000.00 or acme widgets worth $10,000.00, your wealth is $10,000.00. Obvious and simple, yes? It’s so simple it’s a no-brainer!
Wealth Creation is NOW whilst investing is about planning (and praying) for the future. A wealth creator wants to multiply the value of his or her realizable wealth total NOW!
That is, if those antiques or widgets are genuinely worth $10,000.00 the wealth creator will buy them at $5,000.00 or less. At the point of purchase, at least $5,000.00 is added to the wealth total. Unlike the speculator or the investor, a Wealth Creator does not buy on the hope or the gamble that the purchase will rise in value. “Yikes - no way! Keep it simple – the golden rainbow of tomorrow may not come. I want my added wealth now – the minute I pay I intend being wealthier. Let others get their crystal ball out and start praying.”
Note that:
A wealth creator spends money and becomes wealthier.
The average punter spends money and becomes poorer.
The speculator gambles.
The investor hopes and prays.
Who of the above has the most fun?
And having fun is part of wealth creation. For example, Bob and June, part time wealth creators in England, keep in touch with me regularly. After reading my book, they used the money they each spend on each other as Christmas and birthday gifts to begin their wealth program. Instead of buying each other a present for $100.00 and knowing that as soon as they leave the shop the value of that present is probably about $30.00 maximum and thereafter declines in value to become a worthless keepsake, they became wealth conscious. He loves early watercolors and she collects estate jewellery. So off to the auctions and sales they went. Once they became wealth conscious and in a wealth program, when they spend that $100.00 on an item, the item is usually worth $300.00.
They’ve been at it now for four and a half years. The two birthday and two Christmas presents added up. They buy and sell when ever possible. Today they have art and jewellery worth tens of thousands of pounds and their wealth total is going up at an astronomical rate. Even more important they have immense fun in the process.
Business proprietors have every right to have all the hassles of working hard, paying the overheads and hopefully making a profit. The wealth creator takes a short cut through the whole tedious process and goes straight for the jugular – WEALTH CREATION.
To a wealth creator liquidating a part of one’s wealth gives the opportunity to increase the overall wealth total. In stark contrast, the business proprietor needs turnover to pay the overheads.
How ever much money you have available for your part time wealth program, two points are clearly obvious. (1) Your money is always limited - so you can afford to be extremely choosy. And (2) because you are always multiplying your wealth by at least 100%, it doesn’t matter how little you have to start with.
Multiply $20 in wealth only 15 times and you are up around the $250,000.00 mark. After that the sky is the limit.
That is why a single wage family following a wealth program and who are able to live within their means, can end up far wealthier than a multiple large income family.
So it’s your decision – when it comes to wealth creation - Kiss it or Say Goodbye!
An Easy Wealth Exercise: Ten Steps To Wealth
Welcome to this simple, fun and easy exercise to improve your wealth consciousness, focus your mind and get behind yourself so that you can achieve wealth for real, and easily.
The following exercise is just one of 365 different daily “wealth gym” mini-workouts that you can do right there and then, in front of your computer, without even having to get up, and which doesn’t take any more than 60 seconds to complete, from our “60 Second Wealth Creator Series”.
This is a basic visualisation exercise which is very neat to do for real when you come down a flight of steps.
For now, imagine you’re standing at the top of a flight of steps and for each step, we’ll make a wealth affirmation.
10. I am ready for wealth!
Take a deep breath and step down to the next step.
9. Wealth is my birthright.
Take a deep breath and step down to the next step.
8. I achieve wealth easily.
Take a deep breath and step down to the next step.
7. Wealth comes to me readily.
Take a deep breath and step down to the next step.
6. I invite wealth to come into all I do.
Take a deep breath and step down to the next step.
5. Wealth is my partner and my friend.
Take a deep breath and step down to the next step.
4. Wealth is joyous and delightful.
Take a deep breath and step down to the next step.
3. Wealth enters into all and every aspect of my life.
Take a deep breath and step down to the next step.
2. I am on my way to wealth …
Now take a deep breath and JUMP off the last step and onto the next level:
1. I AM WEALTHY!
Clap your hands and give yourself a round of applause!
Silvia Hartmann
The following exercise is just one of 365 different daily “wealth gym” mini-workouts that you can do right there and then, in front of your computer, without even having to get up, and which doesn’t take any more than 60 seconds to complete, from our “60 Second Wealth Creator Series”.
This is a basic visualisation exercise which is very neat to do for real when you come down a flight of steps.
For now, imagine you’re standing at the top of a flight of steps and for each step, we’ll make a wealth affirmation.
10. I am ready for wealth!
Take a deep breath and step down to the next step.
9. Wealth is my birthright.
Take a deep breath and step down to the next step.
8. I achieve wealth easily.
Take a deep breath and step down to the next step.
7. Wealth comes to me readily.
Take a deep breath and step down to the next step.
6. I invite wealth to come into all I do.
Take a deep breath and step down to the next step.
5. Wealth is my partner and my friend.
Take a deep breath and step down to the next step.
4. Wealth is joyous and delightful.
Take a deep breath and step down to the next step.
3. Wealth enters into all and every aspect of my life.
Take a deep breath and step down to the next step.
2. I am on my way to wealth …
Now take a deep breath and JUMP off the last step and onto the next level:
1. I AM WEALTHY!
Clap your hands and give yourself a round of applause!
Silvia Hartmann
Saturday, 7 November 2009
Think Affiliate
It wasn’t long after the birth of affiliate marketing that cashback sites started to appear. These are sites which offer consumers a refund on what they purchase, through the use of affiliate schemes. For example, if a merchant were to run an affiliate program, offering affiliates a 10% commission on all sales, a cashback site could offer consumers anywhere up to 10% off their order value. From the merchant’s point of view, it is still worth paying a commission in the form of a refund to the buyer, if it results in a new sale. At first glance, this appears to be a system which benefits everybody. Merchants get extra sales, affiliate networks get extra commissions, and consumers get a better deal. The person who loses out is the affiliate who might have already referred the customer.
If a review site funded by affiliate revenue advertises by PPC to get traffic, then they would not be out of line to expect that if any of their visitors went on to make a purchase based on the reviews, they should receive a commission. However, if at the point the visitor was about to make a purchase, they went through a cashback site; this would overwrite the most recent cookie set. This means that the affiliate has gone to all of the work of getting the customer to the point of sale, for the cashback site to take the credit. There is evidence to suggest that people just use cashback sites at the point of purchase. The EPC for some merchants is up to 5 times higher for incentivized traffic, suggesting that they only go through the cashback site when they are intending to make a purchase. Is it right that affiliates are being denied commissions because of cashback being a more attractive incentive to purchase?
If a review site funded by affiliate revenue advertises by PPC to get traffic, then they would not be out of line to expect that if any of their visitors went on to make a purchase based on the reviews, they should receive a commission. However, if at the point the visitor was about to make a purchase, they went through a cashback site; this would overwrite the most recent cookie set. This means that the affiliate has gone to all of the work of getting the customer to the point of sale, for the cashback site to take the credit. There is evidence to suggest that people just use cashback sites at the point of purchase. The EPC for some merchants is up to 5 times higher for incentivized traffic, suggesting that they only go through the cashback site when they are intending to make a purchase. Is it right that affiliates are being denied commissions because of cashback being a more attractive incentive to purchase?
Affiliate marketing
Affiliate marketing is growing by leaps and bounds and it seems there is no stopping it. This form of marketing has become so vital for every business that without it a business is nothing less than dead. Affiliate marketing multiplies the internet presence of a business’s products or services in the market by encouraging other internet sites to promote them. It enhances the exposure of the products and services of a business, thus also improving the efficiency of its overall advertising costs.
A natural focus of any marketing initiative is to ensure that more and more number of surfers click onto a site and also become active buyers. There are various ways to promote your site through other online channels using affiliate marketing such as including banners that affiliates can display on their sites or developing email templates that can be sent by affiliates to the database of their users.
An affiliate works by way of developing traffic by taking care of the individual needs of each user and customizing their content to prospective customers’ requirements and expectations before facilitating delivery of a call into action through to your site. The interesting part is that customers that are diverted to your site have already made up their mind about what you are offering, and therefore are very likely to make a purchase. This way you get a pre-qualified customer, and all of you have to do is make a purchase bill. All this has been possible only because of affiliate marketing.
Contacts that are developed through affiliate marketing are very important because they are derived from places where your business would have not reached or would have reached after having to part with valuable time and money through conventional channels.
Now the big question is who should be hired to carry out affiliate marketing for your business and the answer is it should be the best in the industry. Logic applied here is simple. An affiliate that understands your needs and has a trusted and close relations with the major operators so that it is ideally placed to run is affiliate marketing services should be the one you should have
A natural focus of any marketing initiative is to ensure that more and more number of surfers click onto a site and also become active buyers. There are various ways to promote your site through other online channels using affiliate marketing such as including banners that affiliates can display on their sites or developing email templates that can be sent by affiliates to the database of their users.
An affiliate works by way of developing traffic by taking care of the individual needs of each user and customizing their content to prospective customers’ requirements and expectations before facilitating delivery of a call into action through to your site. The interesting part is that customers that are diverted to your site have already made up their mind about what you are offering, and therefore are very likely to make a purchase. This way you get a pre-qualified customer, and all of you have to do is make a purchase bill. All this has been possible only because of affiliate marketing.
Contacts that are developed through affiliate marketing are very important because they are derived from places where your business would have not reached or would have reached after having to part with valuable time and money through conventional channels.
Now the big question is who should be hired to carry out affiliate marketing for your business and the answer is it should be the best in the industry. Logic applied here is simple. An affiliate that understands your needs and has a trusted and close relations with the major operators so that it is ideally placed to run is affiliate marketing services should be the one you should have
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