minihir blog

It occurred to me the other day, that so many people today liken their businesses to the way they eat - fast. Think about it. All over the web we are inundated with… make $1000’s of dollars a day, make $10,000 a month, make a million by the end of the year. Everyone is looking for the magic formula or the magic bullet to get rich quick…fast. They want their business to succeed in the time it takes to get their hamburger or chicken sandwich. No wait, no delay of gratification. I want it now, and I want it without having to work at it. I want to sit back and rake in the dollars, my way.
Those of us who have been on the web for the past six years, realize that just like the businesses we ran off the web, a web business takes time to grow. It is not fast food, but instead like an five course dinner. We start with the drink, the business idea, then go to the appetizer, the business name, mission statement and business plan, then the first course, formalized plan, the second course, the strategies to market our business, the main course, the everyday running of the business, and then comes the dessert, the moneys, we so richly deserve.
We know that it takes time to digest, and we have to go through several courses to get to the dessert. The dessert does not come first. One course builds upon the other, till you get to the end, however, this also allows us to savor our success. Going through the courses also allows us to take a good long look at things, so if we need to add a piece or entree (make small or big adjustments), we can do so immediately.
If you want to run a successful business on or off the web, remember your business is not fast food, but rather a nice long leisurely meal. Take the time to digest it, and savor it over several courses, and your just desserts will be realized in the end, but the dessert does not come first.
Copyright 2001, DeFiore Enterprises.

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In today’s fast-paced business world, CEO’s are trying to keep up with change and adapt to the global marketplace, constantly searching the horizon for an edge over the competition.
One thing they overlook is very close to home. In fact it is just down the hall from them.
It’s their very own employees.
By learning how to unlock the hidden potential of your employees and executives you can create multiple leverage points for your business that your competition cannot duplicate because it’s unique to you. Your employee mix is yours and yours alone. You owe it to your company to get the best from your employee’s; their minds, their strengths and their keen abilities.
Imagine if all employees utilized all their strengths and could know and understand the roadblocks that hold them back? Playing at the “top of their game” they would make better decisions for the company, help reduce expenses and contribute to higher profits.
So much can be achieved by simply knowing a person’s strengths. It can help build confidence in their ability to make and carry out decisions. It’s as critical to know the areas in which they need help. Create an atmosphere where people are not afraid to ask for help or guidance.
Employees become more willing to ask for help before a situation becomes critical if they accept, that like others, they are not perfect and nobody really “knows it all”. This fear of asking for help holds people back and stunts the growth of companies. When nothing holds a person back, he/she can surge forward with the power and confidence of someone on a mission.
So the question to ask is, “How do we structure a program for our people to discover their true strengths and their roadblocks to achievement?”
The answer is a little known science called Axiology, the study of values and judgments. The Value Profile is the tool of Axiology that unlocks a person’s hidden value. It reveals how you can make better decisions based on how you think and what you value.
Here is a scenario to give you an idea on how Axiology and the Value Profile help CEO’s obtain greater leverage from an employee’s strength.
The CEO, lets call him Richard, has to make a tough decision. He needs to expand his company in order to keep ahead of the competition. Richard decides to put someone in charge of a Special Projects team to determine where the company’s best opportunities for the future are.
Using the Value Profile, Richard can accurately measure and compare possible candidates for the position. There are 120 different critical areas with pinpoint and objective information that can be obtained from each individual.
The first section of the report determines a person’s skill in Deciding What Needs to Be Done. This report measures a candidate’s ability to decide what issues are relevant and what issues require attention. The findings would provide insight on the candidate’s ability to rely on analytical as well as “gut” instincts, both critical allies to executives making important decisions.
The profile also provides laser accuracy into how well a candidate “sees the big picture” and how the pieces of the picture fit together to make a whole.
Added insights include measuring ability to use practical thinking and the ability to project a goal into the future and develop a plan to attain it.
In the second section of the report, Developing a Strategy, Richard gains insights on the candidate’s ability to plan and manage the project. This is the only tool that provides you with specifics of how each candidate can plan for consequences of actions and decisions, and how he reacts to crises. As a CEO, it’s more important than ever for you to know which candidate best knows how to quickly identify the source of a problem and the factors relating to the problem.
You can know which candidate has the best combination of skills to manage the project and move your company forward if you know who has the ability to come up with alternative solutions for problems and who can control the flow of events.
But it doesn’t stop there. You can take an even closer look at your selection of candidates. In the third section of the report you take out your magnifying glass and see the management abilities of the candidates.
Utilizing this section of the report, Richard can benchmark each candidate’s ability to identify problems and critical issues. You know how well they can determine what needs to be done and whether or not they know how to do it in the most effective manner.
Another component of the report tells you if they can determine and understand what is needed to carry out your objectives, whether they are clear about potential problems and the abilities of their people to resolve those situations.
The last part of this section provides Richard with a clear picture of which candidates are best equipped to create an efficient process or manage a system that others can follow.
These are a few of the many insights Axiology and the Value Profile can provide Richard and other CEO’s who want to fulfill the vision they have for the future of their company.
There’s more to come; this is the first part of a three part article series. In the second article Richard, our CEO, will discover how he can assess the candidates’ organizational abilities, inner drive to succeed, and how much of a self-starter each candidate is.
(c) 2004, Team Results Inc. and Axelrod and Associates, All rights in all media reserved. Reprint rights granted so long as the article and the by-lines are reprinted intact.

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Ready to start playing with your money? Not interested in complicated businesses or boring bank C.D.’s? Here are some methods that aren’t quite a business because you can do them once, or just when you feel like it. Start small and the risk is small.
Loan Sharking
Years ago a friend got a good job when I loaned him $300 to buy the necessary tools. I charged a $6 per week loan fee (don’t call it interest) until he paid in full. That’s more than 100% annual interest, and yes, we’re still friends. Check the laws in your area if you try this, and take collateral. I don’t loanshark any longer, but in my early twenties I loaned as much as $2,000 at a time ($100/month loan fee), and only once was stiffed on a small loan.
Investing In Other’s Expertise
John showed me several car magazines before I understood why an old fiberglass car was a good deal at $2,300. What’s a Corvette? He convinced me to put up the money, and after a new transmission for $900, he sold the 1976 Corvette for $4,300, netting us $1,000. I took half the profit ($500) for putting up the money for the two weeks.
I’ve done this many times with friends who know cars but don’t have cash. Incidentally, if I had paid a $50 cash advance fee and 18% interest to raise the money with a credit card, my profit would still have been over $400, and John did all the work. I love playing with money. Do you have any friends who know about boats?
Buying Estates
My wife and I met a couple who buy out estates, sell some of it at flea markets, then run the rest through auctions. They’ve made a living at this for years. After negotiating to buy a whole house full of stuff, thay load up their trailer. If they don’t want to do the flea market thing, they auction everything on Sunday afternoon for a nice profit.
If you’re a good judge of value and have an auction nearby, you could also do this with rummage sales. Offer $100 for everything, then auction it off piece-by-piece. An auction near us lets anyone in, with no fee to enter - just a 25% commission on anything sold.
Playing With The Casino’s Money
When I worked the roulette wheel at a casino I saw many people foolishly writing down the numbers that came up. Their theories were mostly nonsense. Casinos welcome these players and even hand them the pen and paper.
One man, however, was actually scientific about it. He found a bias in the wheel, after “charting” it for more than 5,000 spins. A number pays 35 to 1, but one of the numbers, due to manufacturing imperfections or whatever, was appearing 1 in 27 spins, instead of the average 1 in 38 spins.
He bet $10 a spin, and he profited $80 for every 27 spins of the wheel in the long run, or about $100 per hour. Since the ups and downs are dramatic, this is not for the faint-hearted. Even though he made tens of thousands, I saw him lose as much as $700 in a night. Remember too that not all wheels have biases (the casino eventually replaced that wheel). Have you ever tried “card counting” in blackjack?…

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Michelangelo once said that his statue of David was embedded in the block of marble and he merely chipped away the edges to reveal it. Is your product idea inside your mind just waiting to come alive? Or, is your product already formed and you need only to smooth out the edges?
Using my Market-Step process your idea will come to life as we progress in the following steps from idea to launch:

Self-Evaluation
Concept Evaluation
Prototype Evaluation
Product and Market Planning
Product Development and Marketing Tactics
Product Launch, Marketing and Selling

Please use this roadmap as a navigational tool to guide and monitor your progress. (See www.Product-Coach.com > Articles for a graphical flowchart.)
Getting Started
* Protect Your Idea (Chapter 4)
When you have an idea, you need to protect it. The first line of defense is to set the date of conception. Start by documenting your idea in an inventor’s notebook, but don’t file a patent until you evaluate its marketability.
Market Research and Evaluation
* Self-Evaluation (Chapter 9)
Start the Market-Step process by evaluating your product idea’s marketability. Your product idea is marketable if and when it solves a problem, meets a need or want, overcomes competition, and generates a profit.
* Concept Evaluation (Chapter 11)
The second step of the Market-Step process is to determine if people like the concept of your product idea. To test your invention, you’ll need to uncover which people or companies are your future customers. After identifying potential customers, ask them to evaluate how well your product idea solves a problem, or meets a need or want.
* Prototype Evaluation (Chapter 12)
The third is detailed evaluation by giving people a prototype to examine. A prototype is a working model that looks, feels, and functions similarly to the finished product. I’ll lead you through the process of creating a prototype that resembles what your customer wants. Then, I’ll show you how to get detailed feedback by interviewing potential customers.
* Funding Your Idea (Appendix F)
Do you need to raise money to develop and market your product? Initially, you’ll need money for expenses such as market research, equipment, and prototype development. Raising money is a normal part of doing business when you start, grow, and expand.
* Patent Review (Chapter 13)
You performed a preliminary patent search earlier. Now it’s worth your time and money to perform a detailed patent search and possibly file for a patent.
* Self-Market or License (Chapter 14)
What do you do with your new product? Your choices are to either self-market or license it. In some cases you can do both or sell the rights. Self-marketing means turning your idea into a marketable product that you intend to sell directly to an end-user, and/or through a distributor or retailer. Under a licensing agreement, a business will produce and sell your product in exchange for royalties.
Path A: Self-Market Development
If you’ve decided to self-market, follow the remaining steps on Path A. If you’ve decided to license your idea, see the next section for Path B.
* Product and Market Plan (Chapter 15)
Plan your work and then work your plan. The fourth step of the Market-Step process involves planning product design and marketing programs. Product design results from combining your innovation with needs and wants you’ve discovered through research. Market planning involves positioning, pricing, and communications.
* Product and Market Development (Chapter 16)
In the fifth step you’ll develop your product in stages (i.e., alpha, beta, commercial release). You’ll use the beta product to obtain feedback to confirm functionality and eliminate bugs before final production.
* Product Launch, Market and Sell (Chapter 17)
In the sixth step you’re ready to move into production and launch your product. This is the most exciting part of your project. You’ve given birth to your idea and are bringing it out into the world. And as you would with a child, you’ll need to nurture and grow your product, with marketing and sales strategies and tactics.
Path B: Licensing
You’ve determined that licensing is for you. Follow the steps in Path B to license your product idea.
* Licensing Proposal (Chapter 5)
Before approaching a company or product agent, organize your marketing research into a proposal. Some companies have their own forms to fill out; others ask to submit in your own format.
If you feel comfortable presenting and negotiating, seek companies on your own to license your product. Otherwise, find product agents who will seek companies and negotiate on your behalf.
If the company likes what you have, you’ll then negotiate a licensing agreement, then carry out the obligations, and collect royalties.
Going Forward
Now that you have an overview of the steps, my book Product Idea to Product Success, takes you through the details of the Market-Step process, one step at a time.
* This article can be freely published as long as it is not edited, author information is present, and copyright notice is posted.
Copyright 2004 Matthew Yubas. All rights reserved.

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Many people are frustrated by their current full-time jobs, but hesitate to take that first step toward independence out of fear.
When you’re used to a steady paycheck from a regular job, and have family and other financial obligations, stepping out of your comfort zone just seems too risky - no matter how miserable you are with your current situation. Your employer, however, could be your ticket to a successful freelance business. When I started my freelance copywriting practice 10 years ago, I negotiated a contract with my employer - a large advertising agency - for 50 percent of my time for the first year. This gave me the springboard I needed to go out and find other clients, while covering enough of my monthly expenses to take the fear out of starting my own business.
You’re probably wondering… “Why on earth would my employer agree to sign a contract for half my time?” There are a number of reasons, and they can result in a “win-win” situation for both of you.
If you’re on good terms with your employer, chances are they don’t want to lose you. It’s tough to find new staff these days. It takes time to train them and wait until they’re familiar enough with the agency’s style and processes to finally become productive.
Even if they decide to replace you, it can take months to gather resumes, interview candidates and hire the right person. During that time you can be performing job functions from your home office, perhaps even training your replacement, and providing your employer with an easier transition to the new employee and minimizing business disruption.
If you are not on good terms with your employer or boss, or if they’re thinking of eliminating your position, or if the company is downsizing, merging, or being bought out, you can help them avoid the unpleasantness (and cost) of firing you. You are actually doing them a favor by restructuring this in the form of a contract for services that can be “stretched out” for a period of time.
Frankly, if an employer has to choose between letting you go and paying severance and benefits, versus signing a contract for a period of time and getting tangible work and services in return, which do you think they’d prefer? The funds for your contract may even be allocated from a different budget category, making it more affordable for them.
There’s one more reason your employer may opt for a contract: your knowledge. You are already familiar with your company, its clients and services. You’re able to provide the services they need and you understand what has to be done.
It can be a win-win situation. Many creative people have used this logic in approaching their bosses to negotiate their first contract and go out on their own.
If you are really interested in starting your own business as a freelancer or independent consultant, or even thinking of changing directions with your work life, your current job can provide the security you need in your first year to get started on your dream.

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Managing your time effectively is as critical as managing your money effectively. At one time or another, we have all wished for just “one more hour” in our day. But working longer hours will not make you more productive. Managing your schedule effectively will give you more time and produce the results that you desire. So how do you do that?
We have all felt overwhelmed or overworked at one time or another. Generally, when you are more overwhelmed you tend to be less productive. The more you spin your wheels, the less you are able to accomplish.
The six important steps to managing your time wisely are:
1. Write it down! Make a “to do” list of all of your tasks, projects and important action items. Be sure to include any personal items that are vital at the moment. This will help you to create a healthy balance between your personal and professional life. The more organized you become in your career, the more balance you will feel in your personal life also.
2. Prioritize your list! Take some time to go through the list that you have just created and decide which items are most important at the moment. Set deadlines for any of the items that do not have deadlines yet. Taking care of the most critical items first, will give you a sense of accomplishment.
3. Setting Goals! Be sure that your “to do” list matches your goals. What do you hope to accomplish?
4. Flexibility! It is important to be flexible. You can have a “to do” list and try to plan your week, but allow for unexpected interruptions. They do happen and you have to allow for them.
5. Outsourcing! Do you have any items on your list that do not need your personal attention? Are there items, such as administrative duties that you can delegate? Outsourcing is a wonderful way to effectively manage your time.
6. Small Rewards! When you have accomplished a task, whether large or small, promise yourself a reward for a job well done.

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Last Tuesday night, my wife Linda told me in no uncertain terms that I had to go sleep on the family room couch. Not only that, but she did it again on Wednesday and again on Thursday.
Don’t worry though, it’s not what you think. What happened was we adopted a dog (a 2 year old beauty that we named Abbie) and I slept next to her for a few nights to keep her company.
Knowing that a new dog was coming soon, I made a call last month to a company that sells “invisible fencing” — a system that keeps a dog on the property via an electronic collar. We set up an appointment, and a couple of days later, a woman named Marie showed up at the house.
Although my 6 year-old son Jonathan was initially disappointed to discover that Marie herself was not invisible, she was an excellent saleswoman.
>From her big smile as she stepped out of her car, to her clear interest in talking about me rather than just her company, to the fistful of invisible fence ground flags that she presumptively handed over as she stepped in the back door, I knew right away that I was dealing with a pro.
But even then, it was only after she left that I realized just how skilled she was. Because despite my not having been “ready to buy” when she arrived, after we spent an hour or so talking about the weather, my kids, my house and of course, her product, she walked out with a sale. And, interestingly enough, I never once felt pressured.
Think about what she accomplished. She arrived stone cold at the home of a prospect (Marie was not even who I spoke with on the phone), and was immediately faced with having to build rapport and close the sale simultaneously. Not an easy thing to do. Spend too much time on rapport and risk going home with a new friend, but no sale. Push too hard on selling and risk having me walk away. It’s a thin line to walk and only a real sales expert can do it consistently.
I don’t mind telling you that I’m not one of those experts, and frankly, I couldn’t walk that line if it were a mile wide and painted on the ground in bright red. By the time I get to the point of closing a sale, I need months (not minutes) of rapport-building history to compensate for my selling ineptitude.
The good news here is that you don’t need to build rapport and close the sale at the same time. I’ve got nothing but respect and awe for the Marie’s of the world who can, but if like me and many other professional service providers you find yourself challenged in this area, it’s perfectly effective to separate the two events (did somebody say Relationship Marketing?).
With that in mind, I offer three suggestions:
Don’t wait until you need the sale. If the only time I hear from you is when you are trying to close me, or when you want me to give you some referrals, you’re going to have an uphill battle. You don’t need a dog’s nose to smell the, “guy-who-just-finished-a-project-and-is-desperate-for-the-next-one” from a mile away.
If on the other hand, you work to stay in touch with your network just for the sake of staying in touch, you’ll find it easier and more natural to shift into selling mode when the opportunity arises with one of these people.
Do be systematic. Whether it’s white papers you distribute, colleagues you call/email, business meetings you attend, E-Newsletters you write, or some combination, you need to schedule these events into your calendar. In my experience, if you don’t have a specific, “relationship communications plan” (and if it’s not on paper, you don’t have one), this kind of thing becomes the walking definition of “back burner.”
Don’t apply the filter too tightly. If, like Marie, you’re making sales calls today with the intention of closing sales today, it makes sense to try and figure out who the hot prospects are now.
Long term rapport building however, takes the opposite approach — staying in touch with lots of people over a long period of time, knowing that any one of them could ultimately be (or lead you to) a sale. When you’re that far back in the chain of events that need to take place, it’s hard to predict who is ultimately going to lead you to the promised land. So stay in touch with a lot of people, not just the ones who seem likely to bring you something today.
A true story. . .
One of my newest clients came about as a result of my sending a congratulatory e-mail to the founder of a local company, after seeing him profiled in a weekly business paper. He and I had spoken briefly about six months earlier, he’d been getting my newsletter ever since, and I just thought I’d say hello.
Ten minutes after he got my e-mail he called. We met the next week, and before I even had a chance to go back to my office and write up a proposal, he and his partner hired me.
Was it a fast sale? I suppose so, but the only reason it happened so fast and the meeting went so well was because by the time I walked in the door, we already had a long term relationship. The rest was just working out the details.
Bottom Line: One way or the other, you’ve got to close sales to make money. And the way I see it, that means you’ve got two options: You can either get really good at selling, or. . . you can build connections that are so strong, that the closing takes care of itself.

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When looking at tips for first time home buyers, you’ve come to the right place.
Many people are looking all over the Internet for reliable information. There’s over 761,940 websites (as of March 05) with information or online forms urging you to fill them out for more details.
While I certainly agree the Internet is a great place for obtaining tips for first time home buyers, it can also become a real information overload as well. So I want to give you some tips that can help in your search.
Tips for First Time Home Buyers #1
Don’t be too quick!
Avoid giving out your personal information like Social Security number, date of birth etc. at every website that asks for it. This is the single biggest mistake I’ve seen made. Some first time home buyers in their zeal to get started do this.
The problem is this, many sites will require this information before they’ll give you any details. They start out with a simple, name and address screen, then lead into screens that ask for more personal details.
At all costs, hold off giving out this private information. You will have to at some point in time. But, not until you’ve learned about the mortgage process should you do this. What happens when you fill in the forms online? Your e-mail box will be flooded with loan offers.
Many places tout they’ll have 4 lenders or even more give you quotes. Guess what? Nearly every one of these lenders are going to run a credit report. If you have numerous inquires in your credit in one month, this can affect your credit score.
Another reason to be careful here is that most of these websites are just lead generators. The company or webmaster will sell your information to one or perhaps even more sources and then we have a BIG problem. It can costs you in your credit score. The lower your credit score, the higher your interest rate will be. The higher your credit score the lower your interest rate.
Let me tell you a quick little story. I once was dealing with a person who wanted to refinance. We had gone online and fill out several forms at different websites. By the time he got to me, when I was able to look at his credit score, he had over 100 inquiries in his credit in one month. His credit score was so low I could’nt help him. Save yourself this grief, be careful!
Tips for First Time Home Buyers #2
Work with someone you trust.
How can you determine if that person is honest and trustworthy? Listen to them closely. Are they trying to hurry you along to get your personal information? Or are they taking the time to explain things and help you to understand exactly what you’re about to get into?
Buying a home is the single biggest investment most people make in their lifetime. Then afterwards, managing that debt is important also. You want to work with someone who will help you do this. They should be interested in a long term relationship with you.
Over your lifetime you’ll get more than 1 mortgage. I know, it’s hard to imagine that now, but statistic’s show that on average people move or get a new home loan about every 7 years.
Having someone you trust, that has your best interest is what you need. I look at it this way, if I do a good job for you, you might tell 1-2 of your friends. If I did a bad job for you, you’ll tell 100 of your friends.
I build my mortgage business 1 loan at a time. I love referrals so I take a personal interest in each and every borrower. My customers talk about me to their friends!!
Tips for First Time Home Buyers #3
Choose your Loan Officer wisely.
Now because of the Internet, home lending has become a big business. Mortgage Brokers and Lenders have popped up everywhere. Many have also fallen by the roadside at the same time.
The money business is HUGE! Did you know that over 1.3 TRILLION dollars changes hands around the globe everyday?? When you start to think about it, it staggers your mind.
Your First Time Home Buyers loan is just a very small part of daily business.
There’s a big difference between a lender and a broker. Brokers are middle men between you and the lender. They get paid for brokering your loan. They also can help you get loan offers from many lenders. Since the mortgage broker gets wholesale pricing, this can be good if it’s done without running your credit every time. That’s why I say choose your Loan Officer wisely.
Many times when working with a broker, you may not know who your lender is until the day of closing. Again, this is still alright if your loan is locked, you know all the details of the loan product and so forth. What’s important is that the Loan Officer has revealed all the correct information.
Is it a fixed rate loan? Is it an ARM? Is the interest rate what he quoted you in the beginning??
I can’t tell you how many times I’ve heard horror story’s about last minute changes. The buyer finds out that their closing costs are more, the interest rate is higher etc. When you’re at the closing table, the buyer’s there, the seller and the realtors. Emotions are running high! What are you going to do??
If you go ahead and close because the pressures on, it’s going to cost you thousands of dollars over the years. Many ruthless loan officers have done this to first time home buyers and just don’t care. They may never see your face anyway. You’re just a paycheck to them.
Working with someone you trust can help avoid this problem and save you money. Dealing with a loan officer who is on your side will protect you. Nevertheless if you’ve been taken advantage of, this is a RESPA violation and they should be reported.

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As European Union leaders meet in London to wrangle over European Union budgets and the Anglo-Saxon versus the French model, global investors have already voted and have been handsomely rewarded.
Many American investors seem to have written off Europe as a quaint low-growth low-return destination. This sort of attitude has caused them to miss some great opportunities. Let’s look at a few.
Ireland was always seen as on the fringe of Europe. Its population of 4 million people (the United Kingdom is 15 times larger) was always viewed as a bit of a laggard. Into the 1960s, citizens had to pay for secondary education, and as late as 1987, Irish gross domestic product was only 69% of the average of the nations that eventually formed the EU. The unemployment rate was 17%.
Suddenly, its economy took off. Average GDP growth rates in the 1990s were 6.9%, and by 2003, Irish GDP was 136% of the EU average with an unemployment rate of 4%. How can we account for this remarkable turnaround? As usual, it is not due to one event, but rather to a confluence of policies, timing and action.
In the late 1980s, a grand deal was struck: Labor would moderate its demands, freer trade was pursued and corporate tax rates were brought down to zero for multinationals investing in Ireland. Education was also noticeably improved for its relatively youthful population, especially in the technology area.
Within a short time, Ireland became the low-cost production base in Europe, and the money flowed in. Foreign direct investment was the key, and now 1,100 multinationals - many in the tech sector -established manufacturing and RandD operations in Ireland. More than 25% of all American investment in Europe goes to Ireland and Dell is its largest exporter. This, in turn, led to an export boom. The stronger economy also sharply increased labor participation, especially among Irish women.
The resultant rise of Dublin as a booming city and a major financial hub also led to a tourist boom with more than 6 million annual visitors. Instead of talented Irish workers migrating to the U.S. for opportunities, they were coming home in droves.
You can see how every action spins off and helps build sustained growth and momentum. Every action led to another in a virtuous cycle, but the key ingredient for success was undoubtedly massive inflows of capital - capital from foreign direct investment, from EU subsidies, from exports, from stronger domestic capital markets and from migration. Good pro-growth market policies together with sizable amounts of capital can lead to economic miracles.
The challenge for Ireland now is to maintain its competitiveness and momentum in the face of greater competition and higher costs plus a potential property bubble. Congestion in Dublin, which represents 33% of the population and 40% of GDP, is a bottleneck on growth.
The New Ireland Fund is a closed-end fund that has done quite well. Over the last ten years, it has an average annual return of 13%, and during the last year, it was up more than 35%. It trades at a 10% discount to its net asset value and is managed by the Bank of Ireland
Next, let’s take a quick look at the host of this week’s EU summit, the U.K., which has benefited greatly from its openness to the world. London has grown in the last 20 years by 800,000 to reach almost 7.5 million. There are 300 languages spoken in London, and the number of nationalities is approaching 100. The U.K. is one of only three European countries, together with Sweden and Ireland, that have given workers from Eastern Europe free access to its labor markets. Since last May, 175,000 have accepted the invitation. The iShares MSCI United Kingdom Index is up 12% over the last 12 months.
While the American discussion of the flat tax doesn’t seem to go any further than the local Starbucks, many of the countries of Eastern Europe have already adopted one. The flat tax, combined with Eastern Europe’s low cost structure, access to new EU markets, and a strong work ethic have led to a surge in growth. Because Eastern European stock markets are thinly traded, why not use the iShares MSCI Austria Index as a proxy? Austria serves as a gateway to Eastern Europe and functions as its financial, transportation and logistical hub. Austria has also cut its corporate tax rate from 34% to 25%. The Austrian ETF is up 40% over the last 12 months.
Germany’s GDP growth has been anemic, but the iShares MSCI Germany Index is up 16% during the past year. The reason, firms such as ABB and Siemens are not waiting for the politicians to tell them what to do. They are searching the globe for opportunities and winning big contracts.
Even the broadest European indices are doing well. The iShares MSCI EMU Index is up over 15%, and the iShares SandP Europe 350 Index is up almost 16% during the past year. By comparison, the SandP 500 is up a little better than 6%.
Don’t buy into the media’s no-growth, no-opportunity label for Europe. It has some of the world’s best multinationals and controls 40% of the world’s wealth. Especially as U.S. markets continue to churn without making any forward progress, a new investment in “Old Europe” could be a wise move for your portfolio.
For more information go to http://www.chartwellasia.com or call 877-221-1496

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Who among us is not already up to here with the omni-smarts who wax poetic the benefits of “Solution Selling.” Now it may seem strange for me, the author of the book “Up Your Income! Solution Selling for Profitability” to cast aspersions on the merits of this approach. Nevertheless like so many things in the real world, theory is one thing, application thereof is quite another.
The question then becomes; what are the differences between theory and reality for the Solution Sell, and, is there credibility in either?
……………………………………
It’s well known the solution selling strategy was designed to meet the challenges of the 1980s new Technological Era. The computer not only changed the way we did business, it also changed the philosophy by which we sell. The fact that few industries were untouched by the computer meant there was fertile ground for this new selling style to quickly take root.
The solution sell dealt with the ‘Multi-Box’ challenge ostensibly needed to address more complex products and solutions in a more competitive marketplace involving more players than ever providing exactly the same or similar merchandise.
This new approach took a longer view of the selling process and was expressly designed to garner long-term customer loyalty. If companies were to survive and remain profitable, customers had to buy into the idea there was added value in long-term relationships that refocused purchasing criteria on Value and not strictly on Price.
The strategy certainly made sense then and still does today. So one might then ask, Where’s the problem?
Like so many companies hoodwinked into believing the way to success was through a good corporate ‘Mission Statement’, the solution sell approach - much like a mission statement - was and still is, a simple strategy. It is only in its successful application that success of any kind can be realized.
Looking at it differently, the way to win a hockey game is to put the puck in the net more times than your opponent and keep doing it until the nightly news comes on…lol.
Who can argue a proven strategy like that? The application, however, always proves to be the litmus test that continues to separate those with only a good plan from those who can actually implement one.
Simply said, too many corporations bet the farm on the Solution-Sell-Strategy at the expense of the most important part of selling - Making the Sale!
Many of the most unsuccessful companies went out of business with some of the best-laid plans and strategies. The fact is, formulating a strategic plan is always easier than actually implementing one. Disproportionate amounts of time and effort spent designing attractive long-term Solutionist strategies pale in comparison to the skills needed to achieve what really matters in the end - Did you make a sale? Which brings us to why the Solution-Sell-Strategy is a myth.
As much as we’d like to think we have evolved far beyond any selling stratagem from the past, in practice, [regardless of what product or industry], think about the one question asked by all sales managers to all salesreps at the meeting held just before the end of each month. “What orders are you bringing in by month end?”
The BOX-SELL-STRATEGY! That’s right, it never really went away and it’s what successful companies understand to be the most basic ingredient, germane to any selling strategy.
Lets face it, [using the hockey example again], even the puck that goes in off your helmet still counts and can be the quintessential, deciding factor that determines whether a team moves on or hits the links. In reality, how you got it is never as important as whether you got it.
So is the Solution Sell strategy the wrong approach? No, it is now and for the foreseeable future the right approach. What is wrong, however, is to believe - like so many do - a beautiful plan automatically results in sales. It Doesn’t!
Under the microscope it appears we all need to feel we have evolved farther than in reality perhaps we have. It has clouded our view of what’s truly required to be successful in sales - Fundamental Selling Skills.
To focus only on a plan is to give short shrift to the Art / Science or Discipline of the Professional Solution Sell.
The fact is, good plan or not, an unskilled seller will not recognize a simple buying signal. Untrained reps don’t know how to build Trust and Rapport with potential customers. Where there is no argument today is that Trust and Rapport are the bedrock foundation for success of any kind in sales. Even the basic art of overcoming objections is a learned skill as is knowing when or when not to ask for an order. In every respect, these skills need to be taught and honed as truly professional sellers will attest; the techniques integral to the art or science of the sale are, in the end, the stuff that:

Separates the Sellers from the Tellers,
Emboldens good strategies like the Solution Sell, and,
MAKES SALES!

The Bottom Line:
A clear selling strategy in tandem with a proven skill-set are the Yin and Yang components that make up a well balanced formula that all but ensures greater sales and profitability. To believe or practice one without the other is to believe in MYTHS!
Paul Shearstone

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