Friday, December 28, 2007
Thursday, December 27, 2007
What is the Law of Attraction?
"The Law of Attraction attracts to you everything you need, according to the nature of your thoughts. Your environment and financial condition are the perfect reflection of your habitual thinking." DR. JOSEPH MURPHY (1898-1981), multi-million selling author of The Power of Your Subconscious Mind, plus many other books.
Labels: dr. joseph murphy, law of attraction, the power of your subconscious mind
Monday, December 17, 2007
10 Totally Dumb Business Ideas That Made Someone Rich
1. Million Dollar Homepage
http://milliondollarhomepage.com
1000000 pixels, charge a dollar per pixel – that’s perhaps the dumbest idea for online business anyone could have possible come up with. Still, Alex Tew, a 21-year-old who came up with the idea, is now a millionaire.
2. SantaMail.Org
http://santamail.org
Ok, how’s that for a brilliant idea. Get a postal address at North Pole, Alaska, pretend you are Santa Claus and charge parents 10 bucks for every letter you send to their kids? Well, Byron Reese sent over 200000 letters since the start of the business in 2001, which makes him a couple million dollars richer.
3. Doggles.Com
http://doggles.com
Create goggles for dogs and sell them online? Boy, this IS the dumbest idea for a business. How in the world did they manage to become millionaires and have shops all over the world with that one? Beyond me.
4. LaserMonks.Com
http://lasermonks.com
LaserMonks.com is a for-profit subsidiary of the Cistercian Abbey of Our Lady of Spring Bank, an eight-monk monastery in the hills of Monroe County, 90 miles northwest of Madison. Yeah, real monks refilling your cartridges. Hallelujah! Their 2005 sales were $2.5 million! Praise the Lord.
5. AntennaBalls.Com
http://antennaballs.com
You can’t sell antenna ball online. There is no way. And surely it wouldn’t make you rich. But this is exactly what Jason Wall did, and now he is now a millionaire.
6. FitDeck.Com
http://fitdeck.com
Create a deck of cards featuring exercise routines, and sell it online for $18.95. Sounds like a disaster idea to me. But former Navy SEAL and fitness instructor Phil Black reported last year sales of $4.7 million. Surely beats what military pays.
7. PositivesDating.Com
http://positivesdating.com
How would you like to go on a date with an HIV positive person? Paul Graves and Brandon Koechlin thought that someone would, so they created a dating site for HIV positive folks last year. Projected 2006 sales are $110,000, and the two hope to have 50,000 members by their two-year mark.
8. Designer Diaper Bags
http://www.diapeesandwipees.com
Christie Rein was tired of carrying diapers around in a freezer bag. The 34-year-old mother of three found herself constantly stuffing diapers for her infant son into freezer bags to keep them from getting scrunched up in her purse. Rein wanted something that was compact, sleek and stylish, so in November 2004, she sat down with her husband, Marcus, who helped her design a custom diaper bag that's big enough to hold a travel pack of wipes and two to four diapers. With more than $180,000 in sales for 2005, Christie's company, Diapees & Wipees, has bags in 22 different styles, available online and in 120 boutiques across the globe for $14.99.
9. TruGamerz.Com
http://www.trugamerz.com
Faux-suede padded covers for game controllers and gel thumb pads for analog joysticks? No one will buy that. Forget it. The product proved to be so popular, it got picked up by Target.com and Walmart.com and annual sales now exceed half a million dollars.
10. LuckyBreakWishbone.Com
http://www.luckybreakwishbone.com
Fake wishbones. Now, this stupid idea is just destined to flop. Who in the world needs FAKE PLASTIC wishbones? A lot of people, it turns out. Now producing 30,000 wishbones daily (they retail for 3 bucks a pop) Ken Ahroni, the company founder, expects 2006 sales to reach $1 million.
Labels: business idea, dumb business idea, rich
Wednesday, December 12, 2007
How Does Inflation Impact Our Life?
A report just released on 5th Dec 2007 by DBS Group Research shows that price pressure is rising rapidly along side strong economic growth. CPI inflation in Oct07 shocked the market with a 3.6% YoY jump and the outlook is set to worsen in the months ahead. Annual average inflation will rise to 4.0% in 2008 from 2.0% in 2007. Despite higher inflation, the central bank will be apprehensive towards further tightening due to growth concerns.
The current high inflation faced by the Singapore economy is the result of a confluence of factors. Externally, high food and crude oil prices are serious concerns while domestically, escalating wages and rentals are making things a lot trickier for policymakers.
Food, which forms the largest share of the CPI basket (23.4%), went up by 4.3% YoY in Oct07. Recent releases of the Domestic Supply Price Index (DSPI) and the Import Price Index (IMPI) for food suggest that the worst for food inflation is not over (Chart 2). Food DSPI and IMPI, which represent the domestic prices of basic food ingredients rose by 10.3% and 10.9% respectively in October. That should translate to higher food inflation over the next 4-6 months. In fact, we expect food prices to rise by 5.3% in 2008.
Question: How Does Inflation Impact My Life?
Inflation hurts your standard of living because you have to pay more and more for the same goods and services. If your income doesn't increase at the same rate as inflation, you will find your standard of living declining even though you are making more. Also, inflation doesn't impact everything equally, so that some things (such as gas prices) can double while other things (your home) may lose value. For this reason, it makes financial planning more difficult. Inflation is really bad for your retirement planning because your target will have to keep getting higher and higher to pay for the same quality of life. In other words, your savings will buy less and less, so you will need to save more and more. However, everything you buy today costs more, so you have less left-over income available to save.
Inflation has another bad side effect....once people start to expect inflation, they will spend now rather than later, because things will only cost more later.
This consumer spending heats up the economy even more, leading to further inflation - this situation is known as spiraling inflation because it spirals out of control.
It is also important if you are holding bonds or Treasury notes. These fixed price assets only give a fixed return each year. As inflation spirals faster than the return on these assets, they become less valuable. As they become less valuable, people rush to sell them, further depreciating their value. As their value becomes lower, the government is forced to offer higher interest rates to sell them at all.
Learn how to build your wealth and manage your money. Equip yourself adequately with financial literacy. If it is not now, then when? Many people tend to wait for the right time to do something right. There is no such thing as the best / right time because time will never be right.
Labels: bonds, cpi, financial literacy, inflation, standard of living, treasury notes, wealth
Tuesday, December 11, 2007
Fear Is In Us
Have you ever seen a tigress protect her cubs when under threat? Tigresses are overly cautious and secretive when caring for young cubs. She will immediately move them if the area becomes disturbed or threatened. Under extreme case, she would attack her predator if she has to.
In year 2003, I participated in Anthony Robbins event, Unleash The Power Within (UPW) and one of its climax exercise was to walk the fire. What was on my mind that time? Fill with fear! Images of burnt victims crossed my mind... I couldn't help but to focus on such horrible images. After Tony explained the exercise, I mastered the tactic to overcome my fear. Most self-improvement books will have these sayings,
"What you focus, is what you get"
"What you focus on will expand"
"Where focus goes, energy flows and results show"
and of course, there are others. So I understood the true meaning of the exercise and I came out of the fire without any degree of burn. I was so excited and we were asked to celebrate histerically. Celebration allows one to anchor the feeling!
So the next time you come across situation where fear is trying to control you, stop focusing on it... think of solution and you will arrive at one.
Courage is seeing the face of fear and refusing to have it be our master!
Labels: anthony robbins, courage, fear, overcoming fear, unleash the power within
Millionaire Mind Network
More than 10 people turned up... it was a good start. With great support from one another, the journey to financial freedom and wealth creation will not be lonesome task. I look forward to the next one (should be in a month's time)!
Labels: The Millionaire Mind Intensive