Turn What You Know Into Dough

Don't miss any Bottom Line Secrets. Add our address, bottomlinesecrets@ebls.bottomlinesecrets.com, to your Address Book or Safe List. Learn how here. January 5, 2011 The "Secret $200 Retirement Blueprint!" Turn What You Know Into Dough New INSTANT Cure for Extra High Cholesterol -- Cholesterol Drops 100 Points or More Right (and Wrong) Ways to Clean Out Your Ears Blast Away High Cholesterol. Lose 67 Points in Just 28 Days Dear healthwellness82@gmail.com, While many people are struggling financially these days, the truth is that this difficult economy does present opportunities to launch profitable part-time businesses with practically no start-up costs. Loral Langemeier, author of Put More Cash in Your Pocket, tells how to transform your talents, hobbies and interests into income... and identifies seven service sectors where a minimal investment in training can prepare you for a whole new career. If you’re not hearing the way you should, you might simply have a problem with earwax -- but there is a right (safe) and wrong (unsafe) way to deal with it. Richard M. Rosenfeld, MD, MPH, professor of otolaryngology at Long Island College Hospital and State University of New York-Downstate, explains how to clean out your ears without endangering your hearing. All the best, Jessica Kent Editor BottomLineSecrets.com PS: Don’t forget to check out Bottom Line President Marjory Abrams’ latest blog posting: Lost and Found in My Address Book. And don’t forget to share your thoughts on the blog with Margie. The "Secret $200 Retirement Blueprint!" If you’ve already retired, or want to retire soon, I urge you to watch this video presentation before we have to pull it down. This "Secret $200 Retirement Blueprint" shows you step-by-step how to grow a monster-sized nest egg with a little time and a tiny grubstake. Click here to watch this video presentation now. Turn What You Know Into Dough Loral Langemeier Live Out Loud If you want more cash, consider starting a part-time business. Almost everyone has the skills and time needed to launch a business that’s capable of generating an extra $500 to $1,000 per month. With a part-time business, the smart strategy is to get it up and running within a week or two for no more than a few hundred dollars. How to do it... LOW-COST BUSINESS IDEAS Identify skills that you already possess that could be turned into a service-oriented business. Possibilities... Tutoring. Tutor students or help high school students prepare for their SATs or ACTs. Teachers, former teachers, professors and those with degrees from prestigious universities are particularly likely to attract clients. Auto care/repair. If you’re good with cars, offer auto-maintenance and basic repair services. Computer. Provide tech support to individuals or small businesses. Set up computer networks, solve problems, optimize computer performance or create and manage Web sites. Foreign language. If you’re fluent in a foreign language, tutor those who want to learn it or students struggling with their foreign language classes. Handyman. Home maintenance and repair services always are in demand. Music/acting. Tight budgets are forcing many public schools to cut back on music and theater programs, creating openings for private tutors. Photography. Offer portrait or wedding photography services. Sewing/alterations. Alterations are on the rise as people choose to repair, not replace, clothing. Sports. Help promising young athletes hone their abilities. Those who played a sport professionally or for a prestigious college program are most likely to attract clients. Woodworking. High-quality handcrafted wooden bowls and other carved kitchen items can fetch attractive prices in boutiques and at arts and crafts fairs. If you do not have a particular skill that is likely to be in demand, there are service businesses that do not require extensive training or skills (though experience is, of course, helpful). Possibilities include... In-home elder care Child care/day care Lawn and garden care Carpooling/driving services Pet walking/pet sitting Housesitting Housecleaning BUSINESSES TO AVOID Certain businesses are best avoided by people seeking to earn extra cash with little risk... Retail stores. Retailing typically requires an expensive inventory, long hours, employees and leased commercial property. Retailers must compete with Internet sellers and massive chains. Franchises. Profitable franchises charge big up-front franchise fees that part-time business people typically cannot afford. "New idea" businesses. It takes lots of time and marketing dollars to convince consumers to spend their money on something that they’ve never spent it on before. The failure rate for such businesses is very high. More than 485,000 applications for US patents were filed in 2008 -- only a few of these will be successful. It is better to offer a service that people already understand. SETTING PRICES Contact companies that provide similar services in your region, and inquire about their rates without mentioning that you intend to enter the same business. Avoid the inclination to undercut the competition’s prices. Offering the lowest price for a service creates the impression that your services are less valuable. It is better to charge comparable prices and explain why your services are superior. Examples: Establish that your qualifications are more extensive... or offer a money-back guarantee. Exception: Offer lower prices to customers who sign up for extended service packages. Locking customers into long-term arrangements can help beginning businesses build reliable cash flow. It also is a way to make your service seem like a bargain without creating the impression that it is low quality. Example: Someone starting a part-time car-maintenance business could offer a discount package to customers who sign up for a full-year auto-maintenance program. MARKETING YOUR BUSINESS The most cost-effective marketing tool is word of mouth... Visit local businesses that offer related but not overlapping services. Tell the owners or managers of these businesses what your business does. Ask if you can post a flyer in their windows or leave a stack of flyers on the counter. Examples: Someone starting a house-sitting or lawn-care business could contact real estate agents. Consider sharing a storefront location. Ask area businesses that are in some way related to your intended field if they have extra space that they are willing to sublet to you. This can be much cheaper than renting your own space, and you’ll have an inside track on that existing business’s customers. Example: Someone starting a sewing and alterations business could sublet space at a dry cleaner. Contact organizations that work with your intended customer base. Example: If you intend to provide tutoring or music lessons to kids, contact local schools and youth clubs. Volunteer your services to local nonprofits. It’s a good way to make contacts and show off your skills. Offer satisfied customers a discount on their next purchase if they refer someone who also becomes a customer. TAXES, LICENSES AND INSURANCE Don’t worry about taxes at first. New businesses typically have 90 days from the date they start taking in money to get tax payments squared away. It’s best not to get bogged down in such details sooner than necessary, but do ask your accountant if you need to charge tax on any of your goods and/or services. Don’t worry about hiring a lawyer or incorporating your business until your business is up and running. A few details do need to be sorted out before your business gets going... Contact your town or county offices to find out if you need any licenses or permits. Set up a separate checking account for business expenses and receipts. Ask your insurance agent about professional liability insurance, particularly if your business involves anything that could cause injury or trigger a lawsuit. Contact your auto insurance provider if you plan to use your personal vehicle for business. Your existing policy is unlikely to cover business use. Bottom Line/Personal interviewed Loral Langemeier, CEO of Live Out Loud, Inc., a coaching and seminar company with offices in Nevada and California. She regularly appears on the Dr. Phil show as a money expert and is author of many books on finance, including the bestseller The Millionaire Maker (McGraw-Hill) and, most recently, Put More Cash in Your Pocket (Harper). www.liveoutloud.com. New INSTANT Cure for Extra High Cholesterol -- Cholesterol Drops 100 Points or More Do you have stubborn high cholesterol? Would you love to get your count under control without having to depend on expensive prescription drugs? Changing your diet can help, of course. But here’s something better. This breakthrough new therapy instantly filters excess cholesterol from your body. And it’s completely safe. This new therapy takes only a matter of minutes and lowers unhealthy cholesterol like no drug known to science. At the same time, it triggers a reduction in C-reactive protein and fibrinogen, substances that can increase the risk for blood clots. Patients who receive the therapy report a rapid reduction in cardiovascular symptoms such as angina. Learn more... Right (and Wrong) Ways to Clean Out Your Ears Richard M. Rosenfeld, MD, MPH Long Island College Hospital Earwax lubricates the ear’s delicate skin and traps germs and debris. When you talk or eat, jaw motion pushes excess wax out of the ear canal to the point where it is visible. It can then be wiped away with a damp cloth or swab. But: Sometimes the ear gets clogged as wax builds up. Do not try to dig wax out of the ear canal -- this could abrade the skin, inviting infection... compact wax further... or puncture the eardrum. Better... Wax may get stuck if it’s too dry. To soften it, once a week use an eyedropper to place two drops of unscented baby oil in each ear. Clogs may occur if you secrete excess wax or have narrow ear canals. To unclog: Tilt your head sideways, clogged ear up, and drip an eyedropperful of body-temperature water into the ear. Wait five minutes... tilt to the other side to drain... suction out the ear with an infant nasal aspirator. Repeat twice daily for up to three days. If you want, you can try an over-the-counter product that dissolves earwax -- but usually this is unnecessary because earwax is water-soluble. See a doctor if... the above methods don’t help, hearing is impaired or you hear ringing. Your doctor can remove excess wax with irrigation, suction and/or a tiny looped instrument using a magnifier for guidance. Also, to minimize infection risk, leave earwax removal to a doctor if you have a perforated eardrum or diabetes. Cautions: Never irrigate an ear with a dental device, such as Water Pik -- the pressure could rupture the eardrum. Never try ear candling, a procedure that involves placing one end of a hollow candle in the ear and lighting the other, supposedly to create suction -- it does not work and can cause burns even if done professionally. Bottom Line/Women’s Health interviewed Richard M. Rosenfeld, MD, MPH, professor and chairman of otolaryngology, Long Island College Hospital and State University of New York-Downstate, both in Brooklyn, and editor-in-chief of Otolaryngology -- Head and Neck Surgery. Blast Away High Cholesterol. Lose 67 Points in Just 28 Days The big drug companies don't want you to know about the alternative cures that can make their drugs obsolete. The alternative medicine believers think drugs and surgery are bad ideas. Guess what? They're both dead wrong. Finally, a maverick MD has dared to identify the world's best cures from both sides of the medical aisle. These are the real forbidden cures you want... Read on... Important: Help your friends get much more out of life -- forward this E-letter to them. Better: Send it to many friends and your whole family. This is a free weekly e-mail service of BottomLineSecrets.com and Boardroom Inc. Boardroom Inc. 281 Tresser Boulevard Stamford, CT 06901-3229 ATTN: Web Team You received this e-mail because you have requested it. You are on the mailing list as healthwellness82@gmail.com. Or... a friend forwarded it to you. Disclaimer: Bottom Line Secrets publishes the opinions of expert authorities in many fields. But the use of these opinions is no substitute for legal, accounting, investment, medical and other professional services to suit your specific personal needs. Always consult a competent professional for answers to your specific questions. 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