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  • Creativity and Entrepreneurship

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    We will commence our assignment with a discussion of sources of new ideas. We will then examine methods of generating ideas, creative problem solving, the product planning and development process, and then e-commerce. We will then generate several new ideas using brain writing, the checklist method, and free association. We will apply the product development stage to our new ideas and end our discussion with two alternatives to e-commerce.

    Sources of new ideas include consumers, existing products and services, distribution channels and even the Federal Government (Hisrich, 2008). The files of the patent office are full of new ideas and new product ideas can form as a result of government regulations. Research and development is the largest source of new ideas and can occur in a formal lab or in a garage or basement.

    Many methods can be use to generate new ideas. In focus groups, a moderator leads a group of people through open, in-depth discussions. These groups generally consist of eight to fourteen participants. They are stimulated by comments from other group members in creatively conceptualizing and developing a new product idea to fill a market need. Focus groups are also an excellent way to screen ideas and concepts. Problem inventory analysis is another great method of generating new ideas. It uses individuals in a manner that is similar to that of focus groups. Consumers are provided with a list of problems in a general product category and are then asked to identify and discuss products in this category that have the particular problem. This method should be used primarily to identify product ideas for further evaluation.

    Creative problem solving takes the generation of new ideas to a higher level. Brainstorming allows people to be stimulated to greater creativity by meeting with others and participating in organized group experiences. Rules include the following:

    a) Criticism not allowed

    b) Freewheeling is encouraged

    c) Quantity of ideas is desired

    d) Encourage combinations and improvements of ideas

    Brainstorming should be fun and not contain any domination or inhibition of discussion. It is highly effective in groups of six to twelve individuals and can generate ideas about a problem within a limited time frame through the spontaneous contributions of participants. Reverse brainstorming offers a different perspective as it is similar to brainstorming, except criticism is allowed. It is based on finding fault by asking in how many ways an idea can fail. The focus is on the negative aspects of a product, service, or idea. One must be careful to maintain group's morale though. Reverse brainstorming can be used prior to other forms of creative techniques to stimulate innovative thinking and involves the identification of everything wrong with an idea. It is usually worthwhile since is easier for people to be critical about an idea instead of coming up with a new one.

    Brainwriting is a form of written brainstorming and gives participants more time to think than brainstorming. It is silent and each group member writes down three ideas within five minutes. A form is passed around to all participants while a leader monitors time intervals and can even modify them. The Gordon method is another method of creative problem solving and begins with group members not knowing the exact nature of a problem. This ensures that a solution is not clouded by preconceived ideas and behavioral problems. A general concept associated with the problem is mentioned and the group then expresses a number of ideas. A concept is then developed and related concepts are developed. Finally, the actual problem is revealed.

    The checklist method involves the development of a new idea through a list of related issues or suggestions. The following questions demonstrate how the checklist method is used:

    ii.Put to other uses? New ways to use as-is?

    iii.Adapt? What else like this? What could I copy

    iv.Modify? New twist? Change meaning, color, form, shape?

    v.Magnify? What to add?

    vi.Minify? What substitute? Smaller?

    vii.Substitute? What else instead? Other material?

    viii.Rearrange? Other pattern?

    ix.Reverse?

    x.Combine? Blend?

    Free association is another form of creative problem solving and is one of the simplest and yet most most effective methods. It is helpful in developing an entirely new slant to a problem. First, a word or phrase related to a problem is written down. Then other ones are written down and so on. Each new word attempts to add something new to the ongoing thought processes. This creates a chain of ideas ending with a new product idea.

    The product planning and development process is crucial to an entrepreneur's success. One must first establish evaluation criteria by assessing the market opportunity and size. One must evaluate current competing producers, prices, and marketing efforts. New idea should have synergy with existing management capabilities and marketing strategies. The proposed product or service idea should be able to be supported by and contribute to a company's financial well-being. One should evaluate the compatibility of a new product's production requirements with existing plant, machinery, and personnel. Entrepreneurs should be concerned with formally evaluating an idea throughout its evolution. The idea stage involves identifying new product or service ideas while eliminating impractical product or service ideas.

    One must determine the need for the new idea as well as its value to the company to ensure both prior to proceeding with the ideas. The need determination should focus on the type of need, its timing, the users involved with trying the product or service, the importance of controllable marketing variables, the overall market structure, and the characteristics of the market. In the concept stage, a new product should be developed further and refined through interaction with consumers. The refined idea is then tested to determine consumer acceptance. Features, price, and promotion should be evaluated for the concept being studied and any major competing products. The product development stage involves determining consumer reactions to the physical product. An entrepreneur can provide samples in this stage. The final stage of the development process consists of the test marketing stage, which provides actual sales results that indicate the acceptance level of consumers.

    E-commerce is a relatively new concept in the business world and should be used creatively. An entrepreneur must address additional specific issues due to continually-evolving technology. For instance, one must decide if he will run the internet operations of the business or outsource the task to another firm. A website is often created and must be aesthetically-pleasing and fully functional. Ninety percent of small businesses use websites and ease of use is important with websites. The website is a communication vehicle in which search capability and speed are equally important. A website should have a shopping cart, secure server connection, credit card payment processing, and a customer feedback feature. It should be customized for specific target market groups and should be compatible with various browsers.

    The tracking of customer information is vitally important when dealing with e-commerce. This is often accomplished via electronic databases. Doing so supports personal marketing and captures customer attention with customized one-to-one marketing. It is critically important to protect the privacy of individuals when keeping databases.

    When conducting e-commerce as an entrepreneurial company, one's products should be able to be delivered economically and conveniently. Products must be interesting to a large number of people and a company must be prepared to ship products out of its geographic location. Online operations must bring significant reductions in cost as compared to having a store.

    We now turn our attention to the generation of clothing ideas for Libya. We utilized brainwriting with a time limit of five minutes to come up with a new idea. We drafted an adjustable robe for women that can be rolled up and then attached with velcro to shorten it when desired to offer additional clothing and styling capabilities. We then used the checklist method and came up with the following:

    xi.Modify? New twist? Change meaning, color, form, shape?

    a) Can offer robe in multiple colors such as white, red, and blue

    xii.Substitute? What else instead? Other material?

    a) Can make robes out of breathable polyester / nylon material as used in athletic wear

    b) Allows for wicking away of sweat and moisture to keep clothing dry and light in weight

    We then used free association to come up with a list of related words:

    -xiii.cooling, light weight, windproof, light colors, reflective material xiv. End result is metallic-colored fabric that will reflect sunlight like aluminum foil

    We then applied product development stages to the new ideas to formulate a final product concept. We first established our evaluation criteria by assessing market opportunity and size. The population of Libya is 6,173,579, so this will serve as our potential market (Wikipedia, 2009). We then turned to the idea stage to identify new product ideas. These ideas included the following thought process:

    a) Can offer robe in multiple colors such as white, red, and blue

    b) Can make robes out of breathable polyester / nylon material as used in athletic wear

    c) Roll-up velcro to shorten robe for greater cooling and comfort

    d) metallic-colored fabric that will reflect sunlight like aluminum foil

    xv.Eliminate impractical product / service ideas in this stage

    a) Metallic-colored fabric will be eliminated

    b) Reflecting sun can create an oven effect on wearer

    c) Can actually make customer hotter and not cooler

    xvi.Determine the need for the new idea as well as its value to the company to ensure both prior to proceeding with ideas

    a) Multiple robe colors will appeal to different people

    b) Wicking-material robe will appeal to men more

    c) Roll-up robe will appeal to women more

    d) Can result in greater sales and market share

    e) Is beneficial to company to sell more robes while meeting individual needs of customers via mass customization

    We then moved on to the concept stage to further develop and refine our new product ideas through interaction with consumers. We plan on participating in trade shows to present our new ideas. We will display prototypes and obtain feedback from potential customers. Our refined ideas will then be tested to determine consumer acceptance. We will take consumer ideas into consideration and tweak prototypes accordingly. We will then consider the pricing and products of our competition and price our products accordingly to maintain a competitive edge. In the product development stage, we will determine consumers' reactions to the physical product by allowing customers to try our robes on at trade shows. We will then participate in the test marketing stage by proving actual sales results once our products enter the market.

    Alternatives for the use of e-commerce in conducting one of the product development stages for the actual commercialization of our final product idea can involve the creation of a company website that is easy to use. We will incorporate powerful search capabilities while ensuring that our site performs with acceptable speed. We will include a shopping cart, secure server connection, credit card payment, and customer feedback feature in our website. In addition, our website will be customized for specific target market groups and be compatible with various browsers. We will also track customer information by creating an electronic database that supports personal marketing. This will allow us to capture customers' attention with customized one-to-one marketing while protecting the privacy of individuals via strong database encryption. Incorporating online operations will bring significant reductions in cost as compared to having a store. This will allow us to pass savings on to customers via lower prices and greater value.

    Bibliography

    Hisrich, Robert D., Peters, Michael P., and Shepherd, Dean A. (2008). Entrepreneurship
    (7th ed.). Boston: McGraw-Hill Irwin.

    Wikipedia (2009). Libya. Retrieved July 23,2009 from http://en.wikipedia.org/wiki/Libya .

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    Source by Bobby Mobini

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  • Pranic Psychotherapy Release From Addictions or Compulsive Behaviour

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    I start by defining ‘ MCKS pranic psychotherapy’. It is a method which is based on pranic healing techniques of scanning, cleansing, energizing, shielding, and releasing. These techniques are based on the principles of transmissibility of energy from practitioner to client, on receptivity of client to receiving the healing prana, and on the shielding of the chakras and aura from penetration by negative thought entities and elementals.

    Elementals are energy beings which are composed of thought entities that feed on intense emotions of anger, fear, grief, or hatred. A thought entity is an idea which has attached to it a strong emotion which gives it substance in the energy field. This entity resides in the aura, in the mental field, and can penetrate through chakras when the webs are cracked, torn, or damaged. These webs can be repaired and sealed with gold pranic light energy which the practitioner intends and transmits through their hand chakra or crystal wand.

    The power of intention moving energy is at the core of the basis for pranic healing being effective.

    Crystal wands are used by the practitioner of pranic psychotherapy to accelerate the intensity of energy which can be transmitted to the client and reduces considerably the absorption of negative energies involved in the healing process which may be attracted to stick to the hands and arms of the practitioner which is manipulating the energy during the healing process. This absorption of negative energy on the arms and hands of the pranic practitioner is greater when a crystal is not used. This requires the practitioner’s use of an alcohol spray with certain essential oils to dissipate any negative energies which may be adhered to the hands and arms while cleansing.

    Depression, anxiety, and addictions can be consequences of suffering trauma or injury whether physically, emotionally, mentally or spiritually. These injuring consequences leave wounds upon the recipient and are often accompanied by recurring thoughts, emotions, and when severe, hallucinations, which inflict suffering and despair. These consequences can also be paralyzing and prevent the client from taking action to be gainfully employed, to maximize one’s life potential, and to be socially active and productive financially, and to be successfully engaged in relationships at all levels.

    The grace of pranic psychotherapy is in its ability to remove these negative energies which accompany trauma, injury, or accidents. The psychic shielding is also a necessary feature of this treatment to ensure that these negative energies don’t return to inflict emotional and mental pain. There is often the need for subsequent repeat treatments to fully and completely remove all negative energies and elementals which are causing the recurring thoughts, emotions, and patterns.

    The sealing, repairing, and strengthening of the chakral webs further ensures the healing of the etheric body and preventing elementals and negative thought entities penetrating the chakras and affecting the emotional and mental body of the client.

    Master Choa Kok Sui has created this protocol which is administered through certified associate pranic healers, like myself, who have been trained in pranic psythotherapy and have documented successes with treating clients with the above mentioned wounds.

    So far I’ve only mentioned how pranic psychotherapy can be useful to treat injuries from trauma resulting in anxiety, depression, and/or motivational paralysis.

    Another important treatment feature of this pranic psychotherapy technique is to treat individuals suffering from addictive tendencies and obsessive compulsive tendencies.

    The same principles apply wherein the negative thought and emotional entities are creating audio and/or video tapes of incidents of trauma or woundedness which are repeated and which induce a continuous pattern of destructive repeated behaviours which become addictions or obsessive compulsive patterns of behaviour.

    Pranic Psychotherapy can be useful treatment technique for addiction to smoking, alcohol or drugs, and other repetitive negative behaviours which are destructive, self-harming, or self-limiting.

    These treatments have been successful in reducing and eliminating panic attacks which clients have experienced in social contexts. The triggers which bring on these panic attacks have been identified and the removal of the anxiety energies around the aura and chakras has prevented triggering of panic attacks in future situations.

    The shielding of the chakras and aura are also a necessary ingredient of this healing technique to protect the client from persistent and recurring thoughts and emotions which are symptomatic.

    The element of openness and receptivity must be mentioned as being an essential aspect of the healing process. The presence of these elements is necessary to obtain a successful outcome.

    There are also other reasons why people don’t heal. Carolyn Myss makes mention in her book: “Why People Don’t Heal”. In her book she makes mention of the karmic reason for people not healing from a particular wound. In summary the reasons may be that this person has lessons to learn in this incarnation and that this soul needs to go through this trial or tribulation to learn a particular lesson. Past life negative karma catches up with us, if not resolved, and requires it being worked out, perhaps in this incarnation. That’s why inner reflection and firm resolutions are necessary to heal whatever remains of past life karmas which have been destructive to self or others.

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    Source by Roger Fontaine

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  • Wealth Dynamics Profile: What Are "Energy Types?"

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    Have you taken the Wealth Dynamics Profile test, received fascinating results, yet found that there were so many additional details in your report around the “Energy Types” that confused you or left you with unanswered questions?

    The “Energy Types” I’m referring to are the four words around the outermost area of the Wealth Dynamics square: Dynamo, Tempo, Blaze and Steel.

    Are you curious about what these “Energy Types” are all about and how they relate to your Wealth Dynamics Profile?

    In Wealth Dynamics, each wealth profile has an associated Type that represents the way people who belong to that profile naturally act and think.

    While four of the personality types embody only a single Type (Creator, Supporter, Trader and Lord), the other four personality types embody a combination of two Types (Mechanic, Star, Deal Maker and Accumulator).

    Let’s take a look at the Energy Types:

    Dynamo Energy Type

    The Creator Profile solely expresses the Dynamo Energy. The Mechanic expresses a blend of Dynamo Energy with Steel Energy, and the Star expresses a mix of Dynamo Energy with Blaze Energy.

    The Dynamo is expressed by thinking with our “head in the clouds” and the value created with Dynamo Energy is created through innovation.

    The characteristics of Dynamo are:

    * Energized

    * Dynamic

    * Great with getting things started

    * Not so great with finishing things

    Tempo Energy Type

    The Trader Profile solely expresses the Tempo Energy. The Accumulator expresses a blend of Tempo with Steel, and the Deal Maker expresses a mix of Tempo with Blaze.

    The Tempo is expressed by thinking with our “ear to the ground” and the value created with Tempo Energy is created through timing.

    The characteristics of Tempo are:

    * Compassionate

    * Great team player

    * Reliable at getting things done with their team

    * Seeks direction from others

    Blaze Energy Type

    The Supporter Profile solely expresses the Blaze Energy. The Star expresses a blend of Blaze with Dynamo, and the Deal Maker expresses a mix of Blaze with Tempo.

    The Blaze Energy is expressed by acting through people and is quite extroverted. The Blaze naturally leverages by magnifying.

    The characteristics of Blaze are:

    * Passionate

    * Outgoing

    * Great at networking

    * Great at meeting new people

    * Easily distracted from tasks

    Steel Energy Type

    The Lord Profile solely expresses the Steel Energy. The Accumulator expresses a blend of Steel with Tempo, and the Mechanic expresses a mix of Steel with Dynamo.

    The Steel Energy is expressed mostly behind the scenes, very introverted. The Steel leverages by multiplying.

    The characteristics of Steel Energy are:

    * Orderly

    * Systems-oriented

    * Great eye for detail

    * Strong with completing things

    * Difficulty with starting new things

    Each Type plays a huge role in the success of creating our wealth within our profile type and relates to the way we naturally function in the world either as introverts or extroverts.

    That sums up the four energy types found inside of your Wealth Dynamics profile. In the next article, we’ll talk about these energy types in more detail.

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    Source by Bruce Masterson

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  • Book Summary – The Master-Key to Riches – Written by Napoleon Hill

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    This book in a nutshell is a must read for anybody wanted to improve their lives. Regardless of what area you want to improve, Napoleon Hill shows the Master-Key works. Napoleon Hill died in 1970 at 87 years old. Thus the research he did was way ahead of his time. He profiled Andrew Carnegie who created U.S. Steel and mentored Charles Schwab. Andrew Carnegie commissioned Napoleon Hill to profile successful people to see if there was a pattern. This book along with Think and Grow Rich is a combination of that research.

    Why is this important to me?

    If I was spending my precious time listening to this video then the first question I would ask is – Why is this important to me?

    This is important because Mr. Hill explains the 12 riches of life and how to achieve them. Are you where you want to be or do you need help defining true happiness? The study of the 12 riches and the Master-Key defined in this book will give you the blueprint for happiness.

    The 12 Riches of Life are: 1. Positive Mental Attitude, 2. Sound Physical Health, 3. Harmony in Human Relationships, 4. Freedom from Fears, 5. The Hope of Achievements, 6. The Capacity of Faith, 7. Willingness to Share One’s Blessings, 8. A labor of Loves, 9. An Open Mind on All Subjects, 10, Self-discipline, 11. The capacity to Understand People, 12. Economic Security.

    All 12 riches are important but for the sake of time we will dig into three of them in this summary.

    1. Positive Mental Attitude – Mental attitude is important because it converts the brain into the equivalent of an electro-magnet which attracts the counterpart of one’s dominating thoughts, aims and purposes. It also attracts the counterpart of one’s fears, worries and doubts. This basically means that you will manifest in your life that which you focus on regardless if it is positive or negative.

    2. Sound Physical Health – This one is self-evident and should be number one. In my humble opinion, without health, you cannot create anything. Health is the ultimate gift because with it, everything else is possible. This can easily be taken for granted but once it is taken from you then life changes instantly. This needs to be a priority for everybody.

    3. The Capacity to Understand People: The person who truly understands people knows that we all come from the same core. The nine emotions common, according to the book are: love, sex, desire of material gain, self-preservation, freedom from body and mind, self-expression, desire for perpetuation of life and death, anger and fear. The capacity to understand others eliminates many of the common causes of friction among men.

    The Master-Key is a combination of 17 principles when used in combination will allow you to achieve the 12 Riches of Life.

    The Master-Key consists of:

    1) Habit of going the extra mile

    2) Definiteness of Purpose

    3) The Master mind

    4) Applied Faith

    5) Pleasing Personality

    6) Habit of learning from defeat

    7) Creative Vision

    8) Personal Initiative

    9) Accurate Thinking

    10) Self-Discipline

    11) Concentration of Endeavor

    12) Co-operation

    13) Enthusiasm

    14) The Habit of Health

    15) Budgeting Time and Money

    16) Golden Rule Applied 17) Cosmic habit force.

    For the sake of time we will profile three of the seventeen.

    1. Definiteness of Purpose – Highly successful people have a defined purpose. Mother Teresa dedicated her life in helping the poor of Calcutta and through her definite purpose became world renowned and helped millions of people.

    2. The Master Mind – is a group of people that have expertise that can be leveraged toward your defined purpose. Leveraging the combined OPE (Other People’s expertise) gives a compound effect to the desired result.

    3. Habit going the Extra Mile – I like this one because the 12 Riches of Life can NOT be attained without hard, smart and right work. You have to do the thing to have the power!!!! Notice this is the HABIT of going the extra mile. Ingrain this in your mind and you will not be disappointed with the results.

    I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit.

    Habits form in as little as 21 days. I highly recommend you read this book and put the principles in place. To take one thing away from the summary and make it habit will be the “Habit of Going the Extra Mile”. Put this front and center and it will help you in everything you do.

    According to Mr. Hill, Going the extra mile by doing more than one is paid for – “It is the strange influence which it has on the person who does it. The greatest benefit from this habit does not come to those to whom the service is rendered. It comes to the one who renders the service, in the form of a changed “mental attitude,” which gives him more influence with other people, more self-reliance, greater initiative, more enthusiasm, more vision and definiteness of purpose. Do the thing and you shall have the power!!!!

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    Source by Joe Mosed

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  • My Backyard Mechanic is Getting Rich!

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    I kid you not… my backyard mechanic (my younger brother) is getting sooo rich from just listening to a little bit of the news. You see he’s a jack of all trades, and very good in all of them. From buying run-down homes and renovating them, to flipping them for a huge profit… to fixing everybody’s broken down cars. I mean who wants to pay a local garage $80 an hour to change brake pads? But this is not what it’s about! This is even easier!

    Imagine that you’re pretty handy with your hands in just about everything. As he puts it… if you can screw a lightbulb, patch a whole in the wall, change a tire, put up shelves, then anyone can do this.

    He knows a good thing when he sees one, and finds every which way possible to profit like crazy on what the masses are complaining about. He finds the solution, applies it to his own life, and shows everybody how they too can do what I’m about to tell you.

    What do you think the biggest mass grievance is in the world today? You guessed it… gas prices. Here’s what he did exactly!

    He converted his car to run half on water and half on gas using the technology that is now available, with a simple $20 kit. From there, he had two simple magnetic signs made up for each side of his car, which states “RUNS ON WATER [http://www.runyourcaronwater.jon-michel.com]” and with his phone number. He also created a flyer in “Word”, and went to his local photocopy shop and had 500 copies printed out. That cost him about $10. He had some young local girls and boys drop these off in mailboxes and gave them a few bucks to do it.

    Within a week, his phone started ringing and never lets up. He charges $150. a car plus the kit, for work that takes him a couple of hours. On a good day, he manages 4 cars a day. On a bad day, he’ll stop at two or three. Now do the math and tell me this isn’t worth it!

    He has now found a young 17 year old to help him keep up with the demand. He figures it’s just what he needed, because it’s so profitable, that it allows him to expand in other things. No wonder my little brother takes more trips to Hawaii than the average lawyer or doctor. Making money fast has always been a given to him. Entrepreneurship is where it’s at!

    This is a great way of making money fast to finance other ventures.

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    Source by Jonathan G. Michel

    Views: 0

  • Lottery Millionaires – How Many People Win at Least a Million Dollars Every Year?

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    What do these people have in common: George Martinek, Susan Hannoun, Lori Boyle, Bernadette Gietka, Neal Wanless, and Bob Guerzon? Answer: They are all lottery millionaires. They, along with thousands of people every year, defy the odds and win the lotto jackpot. We hear about jackpot winners every week on the news. But have you ever considered how many new millionaires are created by the lottery each year? How many people win at least a million dollars?

    According to the TLC television show, “The Lottery Changed My Life,” more than 1600 new lottery millionaires are created each year. That doesn’t include people that have won jackpots of, say, $100,000 because than the number would be much higher. Still, 1600 is quite a high number.

    If 1600 win at least a million in the lotto every year, it means that there are more than 130 each month, more than 30 each week, and more than 4 each day. That’s a lot of winners.

    Perhaps you’re inspired by these numbers. Perhaps you think that since there are so many big lottery winners, you’re time will come one day. I don’t mean to crash the party, but perhaps you should think again. The odds of winning a million dollar jackpot are bad. 1600 yearly jackpot winners isn’t that big of a number when you consider how many people actually play. Hundreds of millions of people buy billions of lottery tickets each year and only a small fraction of those people actually win a big jackpot.

    Don’t get discouraged, though. The lottery is a game of random luck and you might get lucky one day and become a new lottery millionaire. Good luck!

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    Source by Tino Sundin

    Views: 0

  • Review of Secrets of Self-Made Millionaire Book by Adam Khoo

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    This is the first Adam Khoo book I bought, and it really caught my attention. I have heard of Adam Khoo on numerous occasions and wonder what he is like running a few successful businesses making him a self-made millionaire.

    Adam did not immediately dive in to explain the methods he used to achieve great wealth. Instead, he explained how self-made millionaires think which allows them to see opportunities where others see problems. Once you adopt the habits of a millionaire, a whole new world will begin to open to you and is fundamental to wealth creation.

    The next fundamental aspect I learned from Adam about wealth creation is to set crystal clear financial goals. All of the millionaires, billionaires in the world have at some stage of their life decided that they wanted to be rich. From there, the rich will create high level financial goals for themselves to reach within a certain time frame and a specific whole figure is often used as their target. Lets say you want to increase your monthly income to a higher figure, you need to change your strategy.

    With the goals and target set, you create a plan and execute it accordingly. If your goal is to achieve a targeted portfolio, in your plan you will provide how much you need to save and invest each month along with the rate of returns to reach your target in the allocated time frame. If your goal is to increase your monthly income, in your plan you will provide the methods of increasing your primary income source along with any other income source you need to start anew.

    With the financial plan created, you will find that it is going to be a steep uphill task to achieve the targets set in your plan. Many people give up without achieving their dreams. How do you increase your income at the rate that will allow you to achieve your targets? That’s where Adam teaches us how to massively increase our income in any career along with creating a home based internet business.

    Increasing your income in only one side of the coin. The other side of the coin is to reduce expenses. Many people get into serious debt no matter how much income they earned because they failed to manage their expenses, spending more than they earn. It is even easier to get into debt when salespeople from banks constantly push you to sign up for their credit cards. Adam illustrates the essential money skills you need to have and how to reduce expenses without lowering your current standard of living.

    When you increase your income and reduce your expenses, you will have surplus funds. We have to put this surplus funds to work for us instead of just working hard and saving alone which will not make us wealthy. Using the theory of compounding, you can turn small amounts of money into a huge amount over time with discipline. All rich people use investment vehicles to help them create their wealth and the stock market is one such vehicle. They understand both the risk and returns of the stock market allowing them to achieve returns in the range of 15%-25%.

    Last but not least we need to know how to protect our wealth after spending so much time and effort to build it. Unforeseen circumstances can happen and wipe out our wealth if we are not prepared for it. The rich always engage experts to help them protect their wealth from unscrupulous people.

    I highly recommend Adam Khoo’s Secrets of self-made millionaires if you want to learn how to build extraordinary wealth using multiple sources of income. Many areas of his book have exercises for you to practice what he has taught to accelerate your wealth creation. Get his book now!

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    Source by Raymond Heng

    Views: 0

  • Just What Is An "Odd" Emotion?

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    While performing social media consulting work for a child psychologist, my eyes were drawn to a Psychology Today magazine sitting in the office lobby. The headline for the cover story read “Odd Emotions: Master The Feelings You Can’t Name.” The title alone was intriguing enough to stoke my interest because, well, I’m a “highly sensitive person” and I often experience emotions that I can’t quite name or explain.

    There Are Just No Adequate Words, Or Are There?

    So-o-o… not too long ago, I struggled with understanding some emotions that I can best describe as a ball of intertwined feelings occurring simultaneously. It felt like an explosive double roundhouse kick to the gut from Ronda Rousey that left me dazed, confused, hurt, angry, scared, humiliated, and traumatized.

    And those are just a few of the emotions that converged upon my spirit in one fell swoop. But the worst part was not being able to explain or comprehend the emotions, nor that no one else seemed to understand it, either.

    Fast forward to the other side of my multifarious emotions, I discover that these “odd” feelings really don’t have one name. When artist and writer John Koenig was not able to label his emotions of pending death, he just invented one, “moriturism,” and says “it [his emotions] felt somehow okay.”

    He then created a website that serves as a dictionary describing emotions that have no name using a combination of creativity, linguistic research, and etymology to assign a name and meaning. For instance, “exulansis,” he has determined is a noun which means “the tendency to give up trying to talk about an experience because people are unable to relate to it-whether through envy or pity or simple foreignness-which allows it to drift away from the rest of your life story, until the memory itself feels out of place, almost mythical, wandering restlessly in the fog, no longer even looking for a place to land.”

    The word is a present verb from its Latin root exul, which means “to exile, banish.”

    Fluff or For Real?

    You may be wondering, if people really remember or use these words. Highly likely not, but psychologists suggest in the article that naming or labeling an emotion “might make it more manageable,” “allow us the opportunity to choose our response,” and “help to put a frame around more complex emotions.” I would agree with them, because I believe being able to name what I was previously feeling would have helped to redirect my energy because I spent a lot of time just processing my emotions and the experience.

    Others may see it as a pointless exercise that probably won’t be useful, but Koenig believes it helps individuals to understand that the same indescribable emotions they are feeling have been felt by others. The experience may also encourage the practice of honoring one’s sensitivity and personal emotions in a constructive manner. That’s a lot less exhausting than the alternative, which is running from or suppressing emotions in hopes of an exulansis.

    What do you think about “odd” emotions? Are there inventive words you’ve heard or used to describe an emotion or even an experience, whether good or bad?

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    Source by N. Ann Hall

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  • Your Doctor Says It's Carpal Tunnel Syndrome, Now What?

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    Hopefully you've been heeding my advice and you've gone to see your doctor about your hand pain. I'm going to guess that if he told you that he thinks you have carpal tunnel syndrome, he probably gave you a brace (or splint) and told you to come see him in a month. Hopefully he has referred you to a hand therapist or hand surgeon, and now you're just waiting to see what happens next. Don't panic. Once you understand what's involved, I think you'll feel a lot better.

    So, let's talk about that. What IS next?

    First of all, let's talk about what carpal tunnel syndrome really involves. Because if there is something that I've learned over the years, it's that people don't get a good explanation of what is really going on inside their hand. And as I always say, knowledge is power.

    Your "carpal tunnel" is a space in the base of your palm that is formed by several wrist bones and a thick ligament. Imagine it like this: Make an "O" shape between your thumb and your index finger. Now, hold your arm in a way that forces your palm to be facing the ceiling. The bottom half of the circle is a group of bones. The top half of the circle is a ligament. You've just created a mock-up carpal tunnel.

    Through that "tunnel", you have several tendons (that make your fingers bend) and one very important nerve that operates your thumb muscles and also gives you sensation to your thumb, index, middle, and part of your ring finger. Over time, if those tendons swell, they will crush the nerve against the wall (which is the ligament we talked about earlier) and that pinches the nerve, forcing it to stop working well. Usually, your first symptom is numbness or tingling, then hand pain at night, and eventually you start dropping things because your thumb is getting weaker (and you can't feel properly).

    This information is good to have so that you understand WHY the doctor wants you to wear a splint. See, when you bend your wrist in either direction, you pinch the (already irritated) tunnel more, which cuts off the nerve supply and makes your symptoms worse. The purpose of the splint is to keep your wrist "straight" so that the tunnel is as open as possible. Sometimes a splint is all you need to completely recover. Problem solved!

    Go ahead and make that "O" again with your thumb and index finger. Now leave a slight gap where your fingers should be touching. When a surgeon performs a carpal tunnel release, he is simply cutting that ligament in half so that it relieves the pressure that has been squishing the nerve. He does not remove anything. He just opens up the space so that your nerve can "breathe" again. Easy peasy! You will usually have to take it easy for a few weeks, and maybe spend another few in therapy, but after that, you are as good as new!

    See? That's not so bad.

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    Source by Aleks Dukinas

    Views: 0

  • The 7-Point Trading Plan Template

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    One of the first things beginning traders are told to do is to create a trading plan that will spell out a trading strategy and a list of rules to follow in implementing that strategy. The only problem with that advice is that beginning traders don’t really have any trading experience, and thus are lost when attempting to craft a trading plan for their trading.

    Another problem with trading plans is that beginners are instructed to treat their plans as gospel and are told not to deviate from them. This prevents traders from adapting their strategies and rules to improve their performance, an essential step in every trader’s learning curve.

    Instead of a rigid document to be created early on in your trading career and never to be changed, you should instead view your trading plan as a living and breathing set of guidelines, capable of being modified as you gain trading experience. This article will teach you how to create a trading plan that will guide your trading efforts without stunting your progress.

    The 7-Point Trading Plan Template

    In creating your trading plan, here are the items you should include:

    1. Markets – What markets will you focus on? Be as specific as possible – if you’re trading stocks, what types of stocks will you concentrate on?

    2. Timeframe – How long will you hold your positions for? Will you be a day trader focusing on trades lasting a few minutes, or a swing trader holding trades for a few days?

    3. Time Period – What times of the day will you trade? You may have outside responsibilities that prevent you from trading an entire trading day. Pick which times of the day best suit your style.

    4. Trading Style – How would you characterize your trading style? Perhaps you are a momentum trader focusing on trending stocks? Or maybe you specialize in a particular sector? Again, this can and will change as you gain experience and learn from your results.

    5. Risk Management Rules – This is an absolutely essential and often overlooked component of your trading plan. How will you manage your risk, both on a per-trade basis and overall? You should have a “stop trading” point which is a fixed dollar amount that will force you to stop trading if you’re down by that much.

    6. Mentor – Who do you follow and learn from as a teacher? Attempting to learn trading all by yourself is not only lonely, but foolish as it ignores the hard-earned wisdom of other traders. You can either repeat the mistakes of other professionals and hope to eventually learn the lessons and techniques that they’ve learned, or you can simply learn from successful traders and bypass those initial frustrations.

    7. Learning Process – How will you structure your learning process as a trader? What steps will you take to ensure you’re always getting better? How will you structure your trading journal?

    Trading Plan Example

    To show you this trading plan template in action, I’m going to fill it out according to my own trading style:

    1. I trade the U.S. stock markets, focusing on volatile stocks with sufficient volume. These stocks are typically the focus of news items and are thus “in play.”

    2. I am a day trader and hold my positions anywhere from a few seconds to a few hours. I’m primarily a scalper and am looking to take advantage of short-term imbalances between supply and demand. I will stay in a trade as long as I can identify a supply/demand imbalance.

    3. I trade throughout the trading day, although I focus most of my activity at the open and close of the trading day.

    4. While I have multiple styles, I would characterize myself primarily as a momentum trader that relies on tape reading to identify favorable risk/reward situations to enter in the direction of a trend.

    5. I’m fanatical about managing my risk, both on a per-trade basis and overall. Every trade I enter has a predefined stop-loss and I have a daily stop-loss to stop trading when I’m having a rough day.

    6. I’ve had a variety of mentors throughout my career, and now I talk with a select group of traders at my firm with similar trading styles.

    7. I review every single trade I make, always looking for ways in which I can improve. This may be as simple as cutting down my risk when trading certain stocks or altering my execution patterns.

    Your trading plan can be as simple as that, just a series of statements answering those 7 questions. You also shouldn’t spend too much time creating your trading plan as it will frequently change throughout your career.

    Summary

    Your trading plan will crystallize exactly what you’re trying to accomplish, but don’t view it as set in stone. Rather, your plan will grow and change as you gain experience and develop your own trading style.

    Your trading plan also doesn’t need to be a complicated document spanning multiple pages. You simply need to define what markets you’re going to trade, how you’re going to trade them (how long you’ll hold positions, what times of day you’re going to trade, and your trading style), how you’re going to manage your risk, and how you’re going to continue developing as a trader. By clarifying and explicitly stating those 7 key points, your trading plan will serve and support you in your trading career.

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    Source by Matt A Nadell

    Views: 0