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TigerTom’s Money Making Tips

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Product Description

A PDF of 200+ tips related to making money offline and online.

28 Tips On Making Money Online
86 Tips On Getting A Loan
32 Tips On Buying Web-hosting
19 Tips On Getting A Merchant Account
23 Tips On Ecommerce Web Design
24 Tips On Incorporating A Company
31 Tips On Getting An Offshore Bank Account
29 Tips On Forex Trading

Excerpts:

… Making Money Online …

“Don’t only click on every advertisement you see to find revenue sources; try to find cooperative groups of WAHMs (work-at-home-moms) who have discovered success in making money online or off and ask them for advice. They might give you some ideas about which programs are actually worth investing in. Investigate discussion-boards and forums. Some forums allow users to post web addresses in the body of a message. Make sure to read all the board policies carefully before trying this, or you could be banned for spamming.” …

“Pay Per Click (PPC) could well bring in a good conversion, but each click costs money. Many pro marketing experts will tell you that investment in Natural Search is excellent value for your cash.” …

“Toddle over to Clickbank.com to find the latest products. Look for a product that’s popular, but make sure it’s a product you are familiar with. Likely purchasers discount sellers that are ignorant about the item they’re selling, which makes them less likely to buy it.” …

“Online marketing is all about brand name exposure. Articles on your website needs to be optimised. Get your brand all over the Internet so that you may attract worthwhile traffic. Targetted traffic is what you’re aiming for; if you get a popular video on Youtube about bagpipe-playing, but you’re selling mortgages, you won’t make much money off it.” …

… Loans & Finance …

“Does pulling your credit report many times damage your credit? Answer: All inquiries for your credit report within a 14-day period will count as one inquiry if you are looking for a loan to refinance your home, a mortgage to purchase a home, a home equity loan, or a car loan. If you are looking for a personal loan or credit card, however, each inquiry will be counted separately.” …

“Be sure to ask your lender about early repayment, since many of them will charge a fee if you decide to pay off your loan earlier than expected.” …

“No matter how cheap your loan may be, pay it off as quickly as you can to avoid undue interest accruing. However, it is important not to overstretch yourself. Leave a portion of your regular monthly income aside as coverage for emergencies and unexpected bills.” …

“The Consumer Credit Act of 1974 guarantees that consumers have access to objective information about lenders. APR must legally be calculated in compliance with this regulation and must include not only the interest rate but also any additional fees.” …

“If you are having problems with your loan, inform your lender as soon as possible. The earlier you tell them, the more sympathetic they will be.” …

… Ecommerce Web Hosting …

“Quality over price. You might instinctively want to get the cheapest or free plan, but it will not have all the features you need. You need a reliable host; it’s no fun when a cheap host goes down and you’ve no backup. Types available are image, shared, clustered, reseller, dedicated, co-located, free and file web-hosting. The cost can range from a couple of quid up to hundreds per month. Personal site web-hosters don’t usually come with a complete spread of tools and have lower bandwidth, in anticipation that your site will be simple and will not attract a lot of traffic. Free hosts often advertise with banner ads to make up their earnings.” …

“Ecommerce web hosting companies are very similar to small-business hosting firms with a few unique requirements. Running a business online requires features such as a shopping cart and a secure socket layer (SSL). Ecommerce hosting companies may also offer online shop templates that you may want to investigate before choosing a web host. Additionally, it is crucial to thoroughly research web server redundancy and technical support availability.” …

“Bandwidth limitations are also crucial factors in selecting a web-hosting outfit. This refers to the amount of data transfer that your web-hosting contract allows. You may have a web-page with a relatively small amount of data but the amount of data transferred is multiplied by the number of times your web page is viewed. While your hosting company will most likely not prohibit your page from being viewed if you exceed your bandwidth limitations, they will probably charge more money.” …

“You might realise that some services may appear better than others in both cost and features offered. Keep in mind that there may always be hidden conditions, unforeseen downsides, or the company could even be deceitful about what each package offers. The word “unlimited” is a good indication you should find another outfit.” …

… Effective Web Design …

“Make A Better, Faster, Cheaper Version Of A Popular Product. You can walk a trail someone else has blazed. You may learn from their mistakes. The only down-side is that the opposition will have first-mover advantage and brand-recognition. However, you might also use them to publicise your stuff e.g. “My SnarkWodger 2.1 is faster and cheaper than Big_Name_Brand”; cue controversy, which equals publicity.”

“Use Freelances For Jobs You Lack The Skills For. Is money tight? Try scriptlance.com or rentacoder.com. The key to acquiring premium work is to a) be as clear as possible as to what you want and b) write your spec in simple, concise terms. Your work will likely be done by someone who’s first language is not English. Most web marketers give a vague specification and get work they’re unhappy with. Pick someone who’s had a lot of positive reviews recently. Pay in stages. Use the freelance site’s escrow facility. Do not expect to acquire more than you coughed up for, and don’t be cheap; if someone does a good job, they deserve a bonus, not carping.”

“Make A Better, Faster, Cheaper Version Of A Popular Product. You can walk a trail someone else has blazed. You may learn from their mistakes. The only down-side is that the opposition will have first-mover advantage and brand-recognition. However, you might also use them to publicise your stuff e.g. “My SnarkWodger 2.1 is faster and cheaper than Big_Name_Brand”; cue controversy, which equals publicity.”

“Beware The Latest $49/$97/$149 Software. There are many web marketers who’ve realised that a good method of making cash on the web is to exploit other web entrepreneurs, as there are millions of them. This usually takes the form of packaging up, in a software or service, a trick that was novel six months ago. By the time Joe Webmaster gets wind of it, it’s dead. Study it thoroughly before plonking down cash for it. Seek out independent reviews.”

… Setting Up A Limited Company …

“Benefits Of Incorporation:

• 1. You protect yourself and your assets from liabilities that may be accumulated by your business.

•2. You get more tax credits and enjoy more tax deductions.

• 3. You give your company a separate legal ‘persona’ that is distinct from the owner(s). You protect your company by putting it under a corporate ‘mantle’.

• 4. You expand your business beyond your person.

• 5. You lengthen the existence of your business; it goes on even if something happens to you or to the other owners of the company.

• 6. You increase the capitalisation of your business by getting more investors who will share the losses and profits.” …

“Keep your business issues and your personal issues separate. Otherwise, you’re sabotaging the reasons you incorporated in the first place. If you have partners, it’s important to have a specific exit-strategy process in place. It will set down the buy-and-sell boundaries of a partner’s company interest. This can prevent serious financial and legal issues from cropping up. Each procedure your corporation will follow should be drafted into the by-laws of your business.” …

“Place Of Incorporation: The state or country where you will form your business is also very critical since there are places that are more business-friendly than others. make sure you choose a country or state that will offer the maximum benefits for your company, tax-wise.” …

“Research Your Market. The financial success of your company will rely on knowing the service or product you will sell. So as to to grow successfully in any business you must understand your industry. This will help you to pick a strategy and a name for your business.” …

“Marketing: Set down a clear marketing plan. Getting the word out about the possibilities of your service or product is crucial. Whatever way your strategy works, you need to effectively and clearly speed up this important work. If money is an issue, keep your marketing simple; internet, local ads, business cards.” …

“Chamber Of Commerce: Attend local Chamber of Commerce meetings. Many people do not understand that Chambers of Commerce hold meetings attended by local business owners. There could also be other little known business owner clubs. When you are starting off your business’s incorporation, these meetings might be very useful.” …

… Merchant Accounts …

“When you’re making $1000+ per month, get your own merchant account. Look for ‘merchant services’ at your local bank. Having your own merchant account means paying out less in processing fees. If you think you have found a good merchant account provider because the discount rate is low, the application processing is free and approval is guaranteed, then you are
probably making a mistake. You sign up for one of those low-discount, overnight-approval account providers. Then, a few weeks after your business info has been reviewed you get your real discount rates, transaction fees, and other fees associated with your account, which are nowhere near the ‘free’ or ‘low-cost’ scheme you imagined you signed up for.” …

“Rates: You’re probably interested in the average fees charged by these companies. Since there are so many different online credit card processing services on the Web to select from there are also a multitude of payment structures. In general, however, rates include:

• Application fee due up front,

• Discount rate,

• Termination fee,

• Monthly fee,

• Transaction rate and a variety of

• Miscellaneous fees.” …

“Things to avoid, if you can:

• a) Expensive credit-card processing software rental or hire-purchase.

b) Monthly fees.

c) High discounts (the % of your sales they keep).

d) Fat fees up front (anything over $500 is a joke).

e) Salesmen calling you up with a spiel.

f) Getting lumbered with hiring their shopping-cart software as well. Also if

g) They want a deposit, and

h) The size of their application fee. And

i) The usual monthly minimums, discounts etc.” …

… Offshore Banking …

“Avoid websites where:

• They offer a variety of dubious products – second passports, citizenships, anonymous debit cards;

• You can’t pay via credit card – it’s a good deal harder to get your money back on banker’s drafts, Western Union and e-Gold etc;

• The company address is a P.O. Box, or a ‘Suite’; The website is on a free web host;

• The site is badly translated into English;

• You have the sense you are dealing with Africans or Eastern Europeans;

• The website has not been updated recently e.g. the Copyright reads 2009;

• They’ve only been in business for a few years;

• They require you sign a confidentiality agreement, or you have the feeling you are entering illegal or quasi-legal territory.” …

“Private overseas accounts are usually for wealthy people; you ought to have at minimum $100,000 to deposit. Then you will be welcomed with open arms, after the necessary due-diligence has been carried out.” …

“Due diligence means the responsibility to check that a person or company is who they claim to be, and that the have no criminal associations. You will have to provide a notarized copy of your passport (if applying by post), one or two bankers references, and a copy of a utility bill from your current address.” …

“Potential paperwork: In addition to the Application Forms: For each signatory (Corporate or Personal account):

• Notarised copy of ID (Passport or Driver’s Licence);

• Original reference letter from a current banker, lawyer or chartered accountant;

• Original utility bill or similar showing the current address of the signatory.” …

“Those who engage in international or online enterprise and who generate a large tax exposure can lawfully ease their burden through an offshore Swiss account. Keep in mind that the Swiss government charges a 35% withholding tax on interest earned by accounts held by foreign residents. Also, cheques are not used in Switzerland. This is a nuisance if you’re used to dealing in them.”

… Forex Trading …

“An effective rule for either a mini-account or a standard account is to limit your margin usage for each trade to 5% – 10% of your usable margin. The smaller trade size lets traders trade live but with less risk. It’s useful also for those with less capital, who are risk-averse, or for beginners who are not yet sure of their abilities. A trader may also become familiar with the
operations and the background of the FX trading system. The software used for the mini-account is like that of a regular account and has the same functions.” …

“Continue educating yourself; it increases your likelihood of winning big. And you can do it from the comfort of your own home.” …

“Analyse historic trends to ‘get the big picture’.” …

“You need to study current affairs. Read periodicals and watch TV news channels to keep updated on currencies’ status, as well as factors that influence currency value, such as politics. Also keep a record of: the rise and fall of interest-rates, political and economical factors, banking activities and import and export policies.” …

“If you are someone who’s keen on investing in the currency market and learning to trade foreign currency, the basic things you must have are: currency trading software, knowledge of the marketplace slang and a Forex (mini) account.” …