Passive Income - Entrepreneurs' 5 Plus 2 Basic Steps

Two years ago, the words “multiple streams of income”, did not mean a hill of beans to me. My focus was elsewhere, moving up the corporate ladder. The technology field, at that time, was still somewhat lucrative. I felt comfortable with my “good, secured” technology job.

Call me naïve, but, I believed I could ride the rough waters during the demise of the dot-com companies, “911”, and the corporate financial scandals, and still come out on top. Like the former employees of Enron Corporation, I quickly learned, through a lay-off, that dependence on one source of income was not the best model.

I recognized how important it was for me to take charge of my financial future. The concept of having multiple streams of income appealed to me. It was refreshing, invigorating yet reassuring that these options were available to me and I no longer had to settle for a single source of income. From then on, I actively looked for and created opportunities to earn income from different sources.

One form of multiple streams of income is passive income. A good definition for “passive income” bears close resemblance to the word “inactivity”, for it refers to earnings that require little or no substantive activity. Typical examples include royalty from published products, Free list of El Paso real estate, rentals, accommodation, residual income from a multi-networking business, or dividends earned from investments.

I discovered that entrepreneurs are generally attracted to passive income as a business strategy to augment sluggish financial times, or increase their revenue base.

For example, entrepreneurs crafting a line of product simply by converting speaking engagements into sellable entities such as tapes, e-books, CD/DVDs or articles. This is such a practical concept. So the logical question is how can you as a small business owner expand your revenues to include passive income.

Here are the 5 plus 2 basics steps you should consider:

1. Take a close look at the things you have to offer. It could be the skills or abilities you have mastered that are of value to others. Analyze each one carefully to determine how you can best market it. Review your findings with an unbiased third-party such as a coach to validate your discoveries and help you through the next phases. Always keep an open mind.

2. Use technology to your advantage. Converting your skills and abilities, such as speaking engagement, into marketable products has been simplified and made affordable through the use of technology.

3. Review ways to convert those skills into saleable products. If you are a speaker with a message for self-employed business owners, consider packaging your talks for sale to a global audience. Be creative and experiment with different styles.

4. Juggling multiple streams of income is not designed for the timid at heart. It requires much effort and persistence particularly in the early stages, but the payoff is worth it. Of course, balance is also important. Consider hiring a coach to help you set SMART goals, focus and stay on track

5. Avoid the temptation to build multiple income streams simultaneously, or you may be in for an exciting ride. Know your limit and go at your pace. For some it may mean building your core business first and then adding on as you are able to. While for others, handling multiple projects at the same time is within their range.

6. Don’t forget to update your business plan and goals to keep you on track with the direction you are taking.

7. Enjoy the experience.

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Source: Ezinearticles.com

Motorola RAZR V3 Camera Phone

Months before my current cell phone plan expires, I like to begin diligently researching my options by checking out all the plans and models out there. The Motorola RAZR V3 Camera Phone has caught my attention as it has features currently not found on my Samsung device and at a price that can’t be beat. Please stay with me as I explain what I have learned about the RAZR V3.

The Pink RAZR V3 gets it name from its unique size. If you were to “buy a vowel” you would understand that RAZOR stands for razor thin. It has to be one of the flattest phones I have ever seen! The shell of this device is made of anodized aluminum, giving it a solid, almost “pricey” feel to it. In addition, important features of the unit include:

A digital camera with 4x zoom and quick exposure controls

MPEG Video 4 Playback; you’ll like the screen as it is 2.2" in size!

A built-in speaker phone

You also get some nice “extras” with the RAZR V3 including:

MP3 ringtones

Video download

Quick messaging

5MB internal memory

Extensive email support

This “small wonder” weighs just 3.35 oz. and is roughly 3" x 2" in size. It is simply amazing all that Motorola can stuff into a unit so tiny!

Happily, I have found out that my current cell phone provider, Cingular Wireless, is offering the phone. I have been satisfied with Cingular’s service – very few dropped calls, lots of subscribers now that AT&T has been brought into the fold – so that saves me the trouble of switching. Even better is a recent offer to make the Motorola RAZR V3 available to subscribers for free after rebates! Sure, you have to sign up for the two-year plan, but in exchange you get a really cool phone. You will need to check with Cingular to see if the offer still stands and if there are any other restrictions in place.

I still have several months left on my current contract but I’ll keep the Motorola RAZR V3 camera phone at the top of my list of models. I think you will agree with me that this device has everything that you need in a cell phone and at a price that cannot be beat.

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Article Source: http://ezinearticles.com/?expert=Matthew_Keegan

Be a Search Bully! (Introduction to Keyphrase Research)

At last it’s time to get our hands dirty! By that, I mean we now begin the process of actually doing search engine optimization. The first step to optimizing your web site for search engines is the selection of keyphrases.

What are keyphrases?

It is important to optimize your web site for key phrases, as opposed to key words. Focusing on one particular word will achieve very little success. Focusing on keyphrases, or combinations of keywords, which accurately describe your web site’s content will make your search optimization effort a success. The hard part is deciding on which keyphrases to use.

Targeted keyphrases vs. broad keyphrases

The rule of thumb is to select keyphrases that are as narrow and targeted to your specific business as possible. Utilization of overly-broad keyphrases can undermine your efforts to attract the most valuable traffic and can dilute the effectiveness of your search optimization project.

As an example, let us take a look at a small business located in Barnesville, Georgia. The proprietor runs a specialty Rolex repair shop. She is an authorized Rolex technician and only services Rolex watches. The selection of keyphrases here could make or break this business. One could optimize the web site for the keyword “watches”. This however, would be disastrous. Not only would this business be competing for visibility with every other watch repair shop in the world, it would also be competing for valuable search engine real estate directories with businesses such as the watch manufacturers and dealers. The chances of this web site achieving a top ten ranking for the term “watches” is virtually nonexistent.

To achieve better results, we narrow the keyphrase a bit to “watch repair”. This still is overly broad, as our facility located in the small town of Barnesville has no need or desire to compete for ranking space with the tens of thousands, if not millions, of watch repair facilities in the world. Our chances of being listed in the top ten improve, but are still immeasurably small, by narrowing it further to “Rolex repair”.

We narrow further. “Georgia Rolex repair” is getting us warmer. However, there is no point in this proprietor competing with Rolex repair shops in Atlanta and other parts of the state. In order to reap the maximum benefit, we need to be very specific.

The best keyphrase in this situation would be “Barnesville Rolex repair”. It is narrow, accurately describes the content of our web site, and targets our desired audience, namely, those living in Barnesville.

You can see, now, how narrowing the focus of your keyphrase is immensely beneficial, both in terms of accuracy and in terms of attracting the target market. By trying to find a niche market, you are effectively eliminating the competition and focusing on the most important search term for your business. The example above is intended to be illustrative of the concept of narrowing keyphrases, but does not contemplate every possible scenario.

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Article Source: http://EzineArticles.com/?expert=Matt_Foster

Philippine Destinations

If you have travelled to a great deal of places and all over the world already then you probably have noticed that each city you visit is in some ways distinctly different from all others. You found out how each city has its own essential characteristic: the sophistication of New York, the glamour of Hollywood, the romantic atmosphere of Milan, the artistic flavor of Paris, the old charm of London, the liveliness of Tokyo…but if you decide to travel to the Philippines, there’s one quality that you’d notice all its cities have – and that’s warmth.

Below are several great spots to visit when you travel to Philippines. I assure you that there’s no need to fear getting lost or being treated in an unfriendly manner because the country is quite known as a tourist-friendly place.

Boracay – In recent years, Boracay, found in Aklan, Philippines, became very popular as a beach paradise to tourists all over the world. White sand, sparkling sea water, luxurious accommodation, great food and great company – you’ll find all of those and more when you travel to Boracay Philippines.

Intramuros – Fondly known as the Walled City because of its historic significance to the Philippines, traveling to the country wouldn’t be complete without a tour to Intramuros. There, you can check out the museums of the country and get to know a little bit more about the history and culture of the Philippines. Enjoy the beautiful wildlife that Luneta Park offers.

Malacañang Palace – I’m sure you’re aware of the legend of Ms. Imelda Marcos and her shoes. If you want to see where she lived when she was still the First Lady of the country, do try to travel to the deeper part of Manila and drop by at Malacañang Palace.

Ongpin – This is the Chinatown that everyone’s very proud of. If you travel to the Philippines and want to see a different side of Filipinos, perhaps you should travel to Binondo, Manila, where Ongpin is located and get to know the Filipino-Chinese communities. During holidays and festivities, you’d see that the streets of Ongpin would be decorated in authentic Chinese decors and everyone would be wearing red to honor the occasion they’re celebrating.

Banawe Rice Terraces – Located in the northern part of the Philippines, travel to Banawe to see for yourself what’s described as the eighth wonder of the world. Wherever great spot you may find yourself in the Philippines, you’re sure to be welcomed by the natives with friendly smiles and warm hospitality.

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John Grant
Philippine Travel Guide