Been Busy

What a week

I've been busy! Not that that is any excuse for not keeping this blog updated... Although, I know it's human nature to procrastinate. So I don't feel entirely horrible. Let's get started.

9am meeting

What an invaluable day this was. (This is quick mash-up of ideas and suggestions.) Why are a select few so good and so successful when trading the markets? They analyze everything! I mean everything. Technical things, trends, external issues (nature, the economy, etc), and the most important lesson I learned... MARKET PSYCHOLOGY! "Finding people's puke points." Market predictions often neglect to take in to account people's emotions. Markets can't keep going up forever. There need to be more buyers for it to go up. People forget the shorts are out there losing their asses! It's a puke point for people. Bull markets can turn to a bear market in no time. I watched trading patterns he used as well. Take profits... even if small. Trading consistent is key. Sounds easy right? Well, apparently it's very monotonous and tediously unvarying. Treat every trade as percentage of your total trading equity. Why risk more 10%-20% on any trade? If you trade consistently well, one of your successful trades are bound to catch that monster when it comes!

Strategic Planning Committee

I'm looking to get on board with a strategic planning committee with one of our local entrepreneur's companies. I've been nominated and it's down to four people including myself. My goal here is to bring some gorilla marketing strategies to the table, as well as generating an underground buzz for the company. It's more of a traditional company when it comes to marketing... I think it needs to get online and target a younger generation. This would give me some invaluable experience!

Affiliate Programs

I've learned to stay away from those MMOs(make money online)! This is more of a traditional traffic conversion program. No blogs about how to strike it rich by blogging about how to strike it rich. (Don't worry, it'll catch up to you in a minute. Haha). I have a good friend who has become pretty savvy about online marketing.

Clothing URLs

If you're a frequent reader of this blog, you may remember a quick post about selling t-shirts online. (http://biz-tone.blogspot.com/2008/03/clothing-line.html) Well, came up with a multi-stage plan to take this to a whole new level. It kind of includes a design competition for artwork with a financial reward to the winner, as well as stake in profits for clothing piece they helped design. As well as giving some others who have a drive to create their own stake in the fashion industry, some financial backing for their projects under my company name.

9am!

Commodities, Trading, and Learning

Sometimes I am so fortunate. At nine am today, I have a meeting with a local trading guru. My dad set it up.

He is on a local TV show here about trading and market trends. It's all he does. He is good at what he does too. Very good.

I am young, but that doesn't mean that I don't understand the weight that wisdom and experience carry in life. Especially when it comes to investing and making money.

Recently, he was talking about getting into trading crude oil. He's bearish on it too. If you're new trading... Crude oil is not for the little guys. It takes some serious money to be in this market. It pays too. Normally, he trades the S & P. You may also know that the S & P is not a chump change market either.

We were also in a discussion about market psychology the other day as well. He was talking about gas prices, as well as the Big Brown (horse racing) betting debacle. How almost always the majority is wrong. "The masses are asses." Haha, I liked that one. He also went into an explanation about how a person betting the field (pretty much all the combinations, except the favored) stood to make a windfall of money. He explained the math. This is so funny... (kind of a tangent) because even horse betting can be looked at from a very logical and mathematical view. I always find it funny when people think betting and trading are "gambling." It is if you don't do your home work. Look at it this way though... if you do know what you are doing... it's not! Want to argue? Explain to me why there are business that thrive from horse races, why shares of casinos are traded on the stock market... why commercial companies plug tons and tons of financial assets into commodities markets that have nothing to do with their main source of revenue.

Needless to say, I am excited for nine am to come. He's going to teach me all about a new trading program he uses. I also plan to pick his brain a little, mainly on methods he uses when trading. If you're interested in trading, keep an eye out here... I'll probably have some good notes to post.

Growing your business

Angel Investors

I was watching my Donny Deutsch DVD I was talking about back in a previous post http://biz-tone.blogspot.com/2008/04/what-day.html. They were talking about so many great business dos and don'ts during this particular segment... but one that really got me thinking was the one about angel investing.

Angel Investing Defined

What is angel investing (or an angel investor)? According to Dictionary.com an Angel Investor is A financial backer providing venture capital funds for small start-ups or entrepreneurs. The way I'd define an angel investor is someone with a lot of money, who really likes your idea, and gives you the financial means to grow your business in exchange for shares of the company or a percentage of future revenues.

This also parallels one of my original ideas with Social Lending, although on a much larger scale. The potential of hitting it big with this type of investment is huge. There are many who say that a lot of money is wasted on companies and ideas that never pan out. For those who do pick a giant idea... the money is large. Very large. Imagine believing in Bill Gates or Steve Jobs when no one else did. Could you imagine getting a 15% owner's share for $600,000 (Random example)?

Growing your business

This is great way to get your big idea off the ground if you know you really have something, but can't bring it to the next level. They were talking about the hesitation some feel in giving up a portion of their business to an angel investor on that Big Idea DVD... but then one of the guests mentioned that he'd rather own a percentage of something, than all of nothing. I thought that was a great way to look at it.

Business Trip

It's been a while. I've been super busy and the summer isn't much of a help for a procrastinator. I have some notes I took that I need to remember. Thought I'd throw them up on here so I don't have to hold on to the paper.

Paul Carney made a point that the "Wal Mart era" is coming to an end. What this means is that the traditional brick and mortar sales outlets are being replaced by online shopping. The online shopping sales recently have surpassed those of traditional shopping outlets. Super discounters like Wal Mart are now having to compete even price wise with the Internet. The middle man costs are being cut out. (This is good for two reasons, my sales organization is set up completely to take advantage of the Internet. Two, Wal Mart and other large stores are partnering with us, because they know this trend is happening.)

• Russell Williams made a point that really resonated with me. "If getting your degree for knowledge sake, or for the sake of it meaning the difference in pay will change your life... Great. If not consider the rewards and costs. A master's degree often means only $5-8K more a year." He also states that it will take a college graduate more than 10 years to catch back up to the high school graduate who started working immediately. (I struggle very hard with the higher education process. I feel it has it's place, don't get me wrong... I but I have a very strong dislike for the societal mentality regarding college. See one of my points on a guest blog I did at http://www.tw3o.com/can-college-teach-it/. This is a whole other issue though. Maybe another day.)



• "If it's gonna be, it's up to me." Another Russell Williams quote. Basically, he is saying if you're going to build a business, you must take responsibility and action. It's up to YOU to build your business.



• "IF... is a great place to start." Russell Williams again. Once you have the belief, or the vision... then realize it can be done. It's an inspirational moment in a business owner's life. It's kind of when the fire starts.



• Business check. "Are there blank pages in your appointment book?" R.W. That's a huge quote! Think about it. Give it your own meaning.



• They also spoke about a saying "Attitude before altitude." Basically look at it this way: A millionaire doesn't earn $1 million dollars and then say 'Hey, I'm going to make this a million dollar company!' It starts with a guy saying 'I'm going to build a millionaire dollar business!'



• This was a big one for me. "You know what it takes to succeed, but this means you also know WHAT IT TAKES TO FAIL." It was a message about inaction and lack of commitment.

There is so much more I want to go into right now. But I'm running out of time. It'll have to wait for my next post. Hope you're all doing well and making money!

You asked for it!

Rob Dyrdek's Net Worth

Well... kinda. My traffic records show that there is an overwhelming amount of you guys out there looking for Roby Dyrdek's net worth. I'll tell you right now, I don't know actually know what Rob Dyrdek's net worth is. I can however, point in the right direction to find pieces of the puzzle.

In an earlier post on this blog (This one!)I listed a bunch of companies that contribute to Rob Dyrdek's net worth. You might start by finding out if he is an owner, sponsored by, or affiliated with these companies. By doing that, you can get a rough feel of what Rob is earning from each of them. Look for annual reports. I've tried unsuccessfully to find a solid dollar amount for Rob Dyrdek's net worth online. This is the advice I thought I'd give you guys. Good luck.

(Photos are all from other sources. I've wrote the URLs on most of them. I missed the skate URL, but it is from a blog. )

Dissatisfied

My Life

Alright, well I told you guys that from time to time that I'd write about feelings and thoughts I have pertaining to my own life. This is one of those times. It is actually involving a person from an earlier entry I made http://biz-tone.blogspot.com/2008/03/build-friendships-build-your-business.html. The reason this post is titled "dissatisfied" is because that is the way I feel. I left Farmers Insurance about 3 weeks ago. I've been in contact with my old secretary as well as other agents my clients went to. Apparently, this lady has been calling left and right... trying to figure out when I can write her business! She is not only handing her business to me, she's pursuing me to become a client (trust me, it isn't often people coming running to an agent asking for insurance). So, this leaves me very dissatisfied twofold. The first is the fact that there is someone out there I could help. I know I could have rewritten her business (policy), and most likely given her better protection for less. The other is the fact that my business started growing pretty decently... I just wish the contract could have been less one-sided. Oh well, it gives me that extra chance to really get out there and build a business my way. I always remember quotes from those motivational posters. One of my favorites is: "The block of granite which was an obstacle on the path of the weak, becomes a stepping stone in the path of the strong." I found it fitting to my thoughts.

Getting out of debt

Plan to get out of debt

Well, with the economy at where it is... debt can probably seem pretty overwhelming to all of us right now. The best way to relieve that pressure is to get out of debt. At least the bad debt. Credit Cards are by far the worst!

Develop a plan

The best way to cure your credit and debt woes is by developing a plan of attack. I feel the best system is what I'll call the "Low-High" system. It's kind of hybrid of Dave Ramsey's Snowball System and a system from Robert T. Kiyosaki (from a Rich Dad news letter I got a long time ago). The system is really the same with both debt elimination plans really... there is just a dollar amount attached to the Robert T. Kiyosaki plan. He basically said that $250 is an amount that is going to do the most damage to debt. It's about getting serious about what you're doing. Focus on what ever amount you can (make sure it is as much as possible).

The Plan

Here's how it works:

1. List all of your debts in ascending order (Lowest to Highest). This means your debt with the lowest pay-off becomes your #1 priority. Forget interest rates and such. The goal is to Eliminate the debt! This is the part where Robert T. Kiyosaki suggests the $250. Just make sure you pay the most you can.


2. Pay the minimum payment on all debts, except the one in your #1 slot (or the debt with the lowest pay-off amount). Pay $250 on this one until it is paid off.


3. When you pay off your first debt, restructure your list so your next smallest pay-off amount now takes the #1 spot. Adjust the list accordingly (so if the biggest debt was #8 on the list it now becomes #7 and so on for the rest).


4. Here is where your will power and drive to get out of debt is key. You must now take the $250 dollar payment you were using on the smallest debt that you just paid off, and apply it to the new debt in the #1 spot (DO NOT assume you now have that money as extra disposable income). Do this while you are still making the minimum payment you were making on that debt (For example: You were paying a $35 minimum payment on what was the #2 debt. When that debt becomes the #1 debt, your payment becomes $285). Continue paying all other debts at their minimum payments.
5. Continue this process until you are debt free. It's that simple. The math is the easy part... it's the focus and will power you dedicate that will ultimately determine your financial standing (and your Net Worth!).

My Plan

I am going to practice what I preach. Here is what my plan looks like:

1. Capital One Credit Card. ($250 Focus, minimum is really only about $25 monthly)
2. Discover Credit Card.
3. Nelnet government student loan.
4. Wells Fargo student loan 2 (Sophomore loan).
5. Wells Fargo student loan (Freshman Year loan).

In this case... my payment on the loans are about the same, but the interest on the freshman year loan is higher than that on the sophomore student loan. The thought process for me is even though I will pay a little more interest over time with this method (it's really a trivial amount by the way), I will eliminate the debt much quicker... and it will improve my credit score faster as well.

I hope this has helped you all. Use this method or pencil out your own. Whatever works for you. Just make sure to have a plan! Writing it all out really is most of the battle. Once you do that, the rest is just mechanical really.

What a day

Let The Cards Land As They May

Well, as usual... I have a hundred things running through my mind today. I just decided to throw the proverbial cards up in the air (and as the title says) let land as they may. I'd like to write about everything (business wise) that's on my mind, but I'll save some material for later this week.

Going Green

Is it Earth Day or something? ;) Google's revamped it's search logo today. I've been hearing "green" all day! Which is good... it's the color of money right? Plus, I like breathing and all... so if going green keeps the air clean and the water drinkable, let's do it.

Jim Cramer (Boo-Yah!) is currently doing a show on Going Green on Mad Money! He has spent the first 10 minutes of the show running with giant palm leafs in his hands. It's everywhere. It makes sense though, it's a huge trend in business. There's even a talk about the "green sector!" (What?) If you're an investor, keep in mind that the green mentality is here... your company picks may want to include this tid-bit from now on.

Well, here we go again. Today, I was watching CNBC and they were interviewing Michael Dell (Yes, of Dell Computers). He was talking all about the company's newest green initiative. They want to be carbon neutral. They want to be the greenest tech company. All that type of good stuff. It's huge trend in PR lately, it's even been traced back to the stock market... yes, investors decisions are starting to include companies that are going green (um... see above). I'll keep an eye out (and an ear open) for more CEOs announcing their green companies in the future. Until then, Reduce, Recycle, and Reuse...

Crude Oil

Did I hear that it's at $120 a barrel? Something or other about an all time high? My question is "are we really that surprised?" I mean, unless you only use a bicycle or only ride the bus... Rising oil prices is not news to any of us right? Guess what? IT CAN GO EVEN HIGHER! I doubt we'll ever see it back at .99¢ a gallon. It's big oil business!

Birthday Gift

It's been a few weeks since my birthday. The good news is I ordered The Roadmap To Success, the Donny Deutsch DVD a while back with some birthday cash. Well, today a knock at the door, brought the DVD right to me. Thank you to the monster that is FedEx, for a quick and efficient delivery. More to come from the nuggets of knowledge I acquire by watching the DVD. Happy Earth day everyone!

Biztone Logo

New Logo

Well, as you can see I've got a new logo. It's by far not the final product for this blog. I'm getting to the point where I feel it's a good idea to start the branding process. The reader base for this blog keeps growing and growing. I am teaching myself how to use some logo design software, so this is a very rough draft of the new logo. Right now, I'm playing with colors and texts. My end goal is to be able to create logos as professional as the images to right, it's from the portfolio at http://www.clarewebdesign.com/. I can tell just by placing my logo in the header of this blog, that it is much too "busy" to keep. (If you'd like to submit a design for this site, I'd love to look at it. Please send all designs and questions to Biztone@yahoo.com. If I like yours the best, I'll keep it. We can write an article all about your company, yourself, etc.) So, my new project, besides updating this blog, will be to learn how to make some nice, professional looking logos. That should about do it for today's update. Hope everyone out there is enjoying their Saturday. Thanks for reading. See you soon.

Friday Mix-Up

The Blend

Well, I have a few things to write about today. However, I don't have a whole lot to write about any one of them. Hence, the post today will a blend of all of them.

Advice

There is good advice and bad advice. This is not news to you? Well, I hope it isn't. Let's go a little deeper though. Advice is offered whether you want it or not. That is just a fact of life. A fact that we all get to deal with from time to time.

Really, what it all boils down to is whether or not you want to accept it. For me personally, I don't often like to take advice. I find it is often generic advice and advice not from the appropriate source. An example? Sure. "Diversify your portfolio." Generic? YES. Good advice for every investor? NO! If you invest for safety, and slow growth over time... then maybe this is great advice. If you are one who wants to grow assets quickly and in a focused sector... then that is obviously horrible advice. The flip-side of that is the advice often comes from people who shouldn't be giving it. I can't tell you how many times I've heard people in the bar giving out investment advice, or stock picks. I can't tell you how many times relatives and close family friends have given career advice on what I should be doing, but are no where near where I would like my life to end up. I guess what I am really trying to get across is to consider the source, when you are given advice.

Seth Godin

Seth Godin is one of my favorite business figures. He is an economist. If you read my blog regularly, I assume you like business. If you are a "biz-head" like me, then you probably should know who he is. I've added a side link to his blog on the right hand side panel of this blog. You may even come across excerpts in my writing I've stolen from him from time to time (don't worry, I always try and site my sources).

I was looking over his blog today and came across a post entitled The wealthy gardener. It is in response to a question about MMO sites (or make money online), and blogs. An attendee of his seminar asked "How do I make a lot of money blogging?" In short, he goes on to explain that most people who make good money online are not those who start out with money as their intent. I thought is was spot on advice. In my opinion the care and quality of the writing will rarely be there if the focus is on making money, rather than on writing. (Who knew? Right? Ha ha.)

Rob and Big

Being that Rob and Big is one of my favorite shows, and that the cast are all "cash cows" in their own right, I see it fit to say a sad (but quick) goodbye. It seems that the end came on kind of sudden, but all is well that ends well I suppose. Maybe it's over? That's feeling I got from the most recent episode on MTV. With Big Black (Christopher Boykin) moving out and becoming a new father... I guess the Rob and Big antics have to end. Maybe a spin off with Rob and Drama (Chris Pfaff)? Just Drama perhaps? Who knows? But goodbye for now Rob and Big.