Use New Tax Laws to Boost Your Net Worth, Part 1
The tax code changes almost every year. Usually in ways that are overly cumbersome and often in ways that cost you money. The most recent changes in the tax code — signed into law by President George W. Bush in late May — are different, though. These changes actually offer…
READ MOREHow to Pay Back Loans and Earn Yourself Trust and Admiration
“Creditors are a superstitious sect, great observers of set days and times.” – Benjamin Franklin Ben Franklin, in his autobiography, tells the story of Ralph, a friend of his who had an affair with a young woman whom Ben admired. When Ralph moved to London, he left this woman in…
READ MOREUnderstanding What Makes Your Customers Tick
“‘Cherry-ripe, ripe, ripe,’ I cry, / ‘Full and fair ones; come and buy’” – Robert Herrick Conventional marketing wisdom says that people buy most products and services for emotional reasons — and that the emotions that most motivate buying are greed and fear. If you can figure out how to…
READ MORE12 Business Basics I Learned From a Start-Up Company
“The process of learning requires not only hearing and applying but also forgetting and then remembering again.” – John Gray As a favor to an old friend, I’ve begun working with his start-up company. It’s low-tech — and funding comes mostly from a whopping home mortgage and several shaken-down relatives.…
READ MORE3 Things You Must Know About Mailing Lists Before You Do Direct Mail
“Experience teaches slowly and at the cost of mistakes.” – James A. Froude A common mistake made by novice direct marketers is to create a promotion and then, almost as an afterthought, look for a list to mail it to. They have it backward. The right way to do direct…
READ MOREStay in Touch and Reap the Benefits
“Think like a wise man but communicate in the language of the people.” – William Butler Yeats If you are an executive — even the CEO — of your business, consider writing a note once a week or even once a month in which you express, in the most informal…
READ MOREDynamic Indifference: The Most Powerful Leadership Technique I Know
“You do not lead by hitting people over the head — that’s assault, not leadership.” – Dwight D. Eisenhower I practice a leadership technique that might be called “dynamic indifference.” I do not try to lead — probably because I am no good at it. Instead, I merely focus on…
READ MOREThe Hidden Danger of Negative Amortization
“The cautious seldom err.” – Confucius I’ve bought properties with fixed-rate, adjustable, assumable, 30-year, and 15-year mortgages. They all have their plusses and minuses. But right now, with interest rates rising, ARMs (adjustable-rate mortgages) are soaring in popularity. So it may be a good time to spell out some of…
READ MOREHow Well Are Your Customers Being Treated?
“A thousand things advance; nine hundred and ninety-nine retreat: That is progress.” – Henri Frederic Amiel As a general rule, customer service today stinks. Little businesses tend to be sloppy and forgetful. Big businesses and organizations are even worse. They seem to have policies specifically designed to infuriate you. Trying…
READ MOREThe Myth of the Limited Market
A request I received this morning reminded me of a little-understood but immensely important principle of advertising. I call it the “infinite-universe” principle. If you know this principle and apply it to your business, you can make a lot more money and avoid a lot of needless bickering. The particular…
READ MOREWhat New Freelancers Can Learn From Tiger Woods
“Gather in your resources, rally all your faculties, marshal all your energies, focus all your capacities upon mastery of at least one field of endeavor.” – John Haggai Remember when Tiger Woods won his first Masters Tournament? A lot of people figured he won simply because of his outstanding talent.…
READ MORESix Myths About How to Manage People
“I have come to the conclusion that my subjective account of my motivation is largely mythical on almost all occasions. I don’t know why I do things.” – J.D.S. Haldane There are six major myths about the “people dimension” of management — all of which ignore the “it-all-depends” aspect of…
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