By far, the most efficient way to obtain life insurance is through a term life insurance policy. Some financial advisors insist that their clients use whole life insurance rather than term life insurance. I am going to show you why they are wrong. The three primary reasons they give for recommending whole life are: 1) whole life insurance lasts the period of your entire life so you don't have to worry about renewal or possible health downturns...more
5 Ways a Document Management Service Can Improve Your BusinessDocuments can be the bane of any businessman's existence. Documents are a fact of life in the business world. From advertisements to legal contracts to protocols, from business plans to presentations to spreadsheets, almost every person in a business has some contact with a document. In most businesses, several people write, read and revise the same documents. This process can...more
A lot of online entrepreneurs are under the impression thatthey have to do everything themselves and be everything toanybody. They want to do it all. The want to be theinventor, the creator, the author, the accountant, thegraphic designer, the web designer, the copywriter, thetech guy, etc. This is very inefficient.Do only the things that you do well and then you paysomeone else to do the things you aren't good at or take along time for you to do. Other than saving money, there isno reason that you should even try to do everythingyourself. There is a strong relationship between time andmoney. That is that time is money.Once you understand and appreciate that you will be moreefficient and less scared to spend a little money to getthings done fast and well. Even if it means freeing up asignificant amount of time. Who you are is communicatedthrough your website. There was another harmful mythcirculated amongst internet marketers that web designdoesn't matter as long as the sales copy is good.This myth sprung from the philosophy that a site should bestripped down to it's bare essentials so that there isnothing to distract or confuse the visitor. That is true.But then someone took it a...more
Why it's better to have residual income and not solely depend on paycheck income? Residual income by definition is income earned by an individual that are generally coming from his assets at hand. It allows a person not to worry anymore spending 8 hours a day in the office working as his personal assets are now earning money for him.The current...more
A duopoly is a situation in which two firms control nearly all of the market for a product or service. Duopolies can be surprisingly competitive. If you remember that the price of a product or service is determined solely by the highest losing bid price and the lowest losing ask price, you'll realize why a duopoly can be so competitive. A large...more
Why is a value investor writing about an unprofitable internet company? Because value investing is about finding dollars that trade for fifty cents; with a market cap of less than 75% of sales, Overstock.com (OSTK) looks like it may be exactly that. But isn't it too risky?The greatest risk in any investment is the risk of overpaying. So, the real question is: what is Overstock worth? I think it's worth at least $1.5 billion. With Overstock's market cap currently sitting around $500 million, my valuation certainly looks far fetched. But, there's only one way to know for sure. Let's take apart my argument piece by piece, and see if any of my assumptions are unreasonable.First Assumption: Over the next five years, Overstock will neither generate truly free cash flow nor consume cash. In other words, its free cash flow margin will average 0%. Cash generation in some years will exactly offset cash consumption in other years. Obviously, this assumption is unreasonable, because there is almost no chance the cash flows will exactly offset. That's not a problem if it turns out Overstock does generate some free cash flow over the next five years. In that case, my assumption simply errs on...more
In the UK, Banks have been ordered by the financial watchdog, the Financial Services Agency (FSA) to refund Mortgage Exit Fees to clients they have overcharged when they redeemed a Mortgage. This is of major significance to those involved within the...more
Years ago I gave a consulting client a one-word solution to overcoming his business challenges. The one word was, "FOCUS." At our weekly meetings I emphasized the importance of focus for this successful entrepreneur seeking even greater success. We...more
What is an Individual Voluntary Arrangement (IVA)An individual voluntary arrangement begins with a proposal based on your financial circumstances and how much you are realistically able to afford to contribute towards an IVA, either on a monthly...more
When I speak with many website and business owners, I usually get asked this question over and over gain. And that is "what can I do to get more customers, clients or subscribers? Well there's a 1001 answers I can give that question. Because there...more
Q: How important is the name of a business? Should the name of a business reflect what the business does or is it better to come up with something catchy and easy to remember? -- Randy P.A: What's in a name? When it comes to your business, Randy, a...more
Reduce your tax payments by claiming an interest payment deduction.If you are busy paying off your student loans, the last thing you want to do is to pay interest on the money that you're about to give right back to the government. Luckily, in a lot...more