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Getting Started Online: Chasing Dollars and Rainbows to Make Money Online

Perhaps you’ve heard the frequently used internet term “BSO” – it stands for Bright Shiny Object, and it’s the bane of many a new online entrepreneur who is trying to make money online.

People who are new to the make money online world usually have a few obstacles to overcome as they master the learning curve: understanding new business models, learning online marketing methods, deciphering the whole technology aspect, and grappling with lack of confidence in their ability to succeed.

Because of these factors (and more), many people find themselves racing from one latest-and-greatest product or business model to the next. Experienced make money online marketers refer to this as Bright Shiny Object Syndrome, and sadly, it’s an all too common phenomenon in the online world.

What others call BSO Syndrome, however, I prefer to refer to as old-fashioned rainbow chasing. You find yourself implementing one business model but don’t get immediate results, so you start to doubt yourself and the system. Not having found the pot of gold on the first try, you default to Mad Scientist mode: “Hmmmm, Igor – if that didn’t work, I shall have to change a variable” - and start looking for the next rainbow (and its purported pot of gold) to chase.

The problem with this flawed line of thinking is that newbies often look to change the easiest variable, not necessarily the right variable. Your system may or may not be solid, but how would you really know after just one try?

But instead of committing to trying harder or adding more resources to this model (time, effort, money, networking, leveraging with JV partners,etc.), it’s far easier to just throw your hands up in the air, say “Well I tried”, and move on to the next rainbow.

Here is the secret and the absolute truth about Rainbow Chasing that I’ll share with you:

The Pot of Gold is right under your feet!

How, you say? How can that be – I don’t see it, it’s not leaping out of the pot and into my bank account – surely you’re mistaken!

Here’s the rub: yes, it’s been under your feet all along, but you have to do the WORK and DIG for it.

When you’re new and things seem tough; when you start to lose faith that it’s possible to earn a good living online; when you doubt yourself and your abilities at the deepest level – it’s time to look within and commit to working even HARDER (not change course willy nilly looking for another product or plan.)

So quit chasing rainbows. Commit to a course of action and stick with it. If it’s not working, find a mentor or a group of like-minded people to connect and brainstorm with them on a weekly or daily basis.

By being aware of the newbie tendency to leave one make money online model and chase another, you’ll already be developing into a higher level marketer while adding a deeper dimension of self-understanding.

So get your cyber shovel out and dig deep, my friend, dig deep!

Never give up on yourself or your dreams!

Retail Property Managers – How to Track Financial Performance of Your Tenant Mix

The performance of a retail property is not just about the rent or the net return. There are a number of other things that come into the financial performance equation. When you identify the right financial benchmarks to track, you can see and set the performance of the retail property that the landlord requires. It also helps you set and drive a better tenant mix strategy.

When the tracking of financial performance is neglected, you quickly see the Retail Property and cash flow disintegrate and destabilize.

Here are a few key facts and trends to track in the financial performance of a retail property.

  1. Get the trade numbers and turnover figures off your tenants on a weekly and monthly basis. In doing this be sensitive to confidentiality. Only you as the property manager and the landlord should see and analyse the figures. From these figures monitor trends in the trade of tenant groups. If one tenant group is trading better than others then you know you have an issue with the tenant mix. That then comes down to a decision as to what the customer requires and why you are not serving it. Consideration regards the demographics of the shopper then become critical at the time of lease renewal or letting of vacant area.
  2. With Retail Property, outgoings and occupancy costs are critical to the landlord and the tenant from different directions. The landlord wants a better net return, and the tenant wants a viable business. Uncontrolled or escalating outgoings can destroy both. This then suggests that the outgoings for a Retail Property should be carefully monitored and compared to properties in the area of similar type. Higher property outgoings will also remove your competitive edge when leasing vacant areas.
  3. Tenants know what they should pay when it comes to occupancy costs. The outgoings costs in Retail Property are generally higher when compared to other types of Investment Property. This is due to the higher levels of presentation and property performance generated from and the result of customer and tenant interaction. A busy shopping centre will always have higher outgoings simply because of the demand on daily presentation. More people through the property means higher costs of running.
  4. Every Retail Property should have a property budget. In that budget all matters of income and expenditure should be tracked throughout the year. When it comes to income, this is easily achieved from an analysis of all the leases given the trends in the property market. When it comes to expenditure, this tracking process will be achieved from history of expenditure together with acceptable predictions of cost escalations in the region.
  5. The tenancy mix of the property should be broken into regions or zones based on the property design and layout. The turnover figures should then be tracked within those regions or zones. What you’re looking for is a significant difference in turnover trending between zones. This will tell you when customers prefer to shop in particular parts of the property. There will be reasons behind this that have to be identified.
  6. Municipal rates and taxes are a significant cost burden on the operation of a Retail Property. They are what we call uncontrollable outgoings because they are dictated by the local municipal council. The rates will normally be set by some equation centred on the unimproved value of the property. This then says that when the property is valued you have to be very mindful of any ability to challenge the value set by the municipal council. Whilst it might be very nice to have a highly valued property, it will reflect straight through to the outgoings and impact both the landlord and the tenant. It is notable and of some concern that the rates and taxes for a Retail Property are generally over 1/3 of the outgoings costs. Any savings you can make in this area will significantly impact the net return for the landlord.
  7. Track the vacancy trends in the property so that you know and see the potential drain on cash flow that a vacancy can create in the future. Proactive landlords and property managers tend to work well ahead of any vacancies and leasing problems. This is usually 24 months away from the event. It allows you to make key decisions and changes as appropriate. It also allows you to make changes in the tenancy mix if that is required.
  8. In any older property the requirements of refurbishment and redevelopment will be critical to the property business plan and ongoing customer visitation. The lease for the older Retail Property and all the tenancies contained therein should integrate terms and conditions that allow the landlord to refurbishing and redevelopment as required. Give due regard to the requirements and impact of local legislation as it applies to retail premises. Some locations have specific rules and regulations when it comes to renovation, relocation, and refurbishment.
  9. Rental trends for similar properties will always be of interest and relevance. It is common in Retail Property to have both net and gross rentals. It is important that the levels of rental income in comparable properties are similar to yours. You do not want a standalone as the best retail property with the highest occupancy costs in the region. That is a recipe for a vacancy escalation. Stay within the averages when it comes to occupancy costs, rentals, and outgoings.
  10. Stay on top of the trends in the local area that the property serves. Understand the demographics of your shopper and any changes that could be occurring therein. Understand any changes in the transport, freeways and highways, and economic sentiment in the region. As the region changes, then the property should also change to suit.

So the tracking of financial performance in a Retail Property involves a number of key issues and factors. When you use sound business practices to identify trends, you help your property to perform more effectively for the landlord. Good decisions can be made, and the business plan for the property becomes more achievable.

How to Transition to a Bodybuilding Lifestyle

Many of us spend time looking in the mirror, wishing for this or that, but the bottom line is that we as humans strive for improvement. Think about how great it feels to accomplish something big and see yourself rewarded for it. Looking at the mirror thinking about how you can improve your physique can be related. Improving your physique is a lot like improving other areas of your life. You’ll feel very accomplished when seeing results, and in turn, motivating yourself to strive to get better. Many of us want the end result, but in order to get that end results, you have to work for it. You won’t get a bachelor’s, or masters, or PhD by wishing you had one. These are all separate goals or achievements in the education process, just like you may have certain steps or goals for your physique accomplishment. The big problem here is transitioning into a healthy lifestyle or a bodybuilding lifestyle. This article will provide you with a step-by-step process on how you can transition from your current lifestyle, into a bodybuilding lifestyle or at least a lifestyle revolved around fitness and improving your physique.

Step 1: Desire the change

The first thing you need to do is to WANT the change in lifestyle. If you aren’t committed towards this lifestyle then it will eat you up. You have to want this. Some people are in unfortunate situations where they NEED it. Let’s hope you aren’t at that point because if you need it, but don’t want the change, that can be a serious problem. If you are serious about the lifestyle and desire the change, then you’ll be a lot more motivated. Motivation is key because increased drive can spell more desired results!

Step 2: Seek Support

No matter how much you think you know, there is always more to be learned. Bodybuilders at all stages of the game still always seek support from other people and it’s this support that can really help their physique grow. Thinking you know everything can lead you down the wrong path. Despite my experience as a bodybuilder, I’m always looking for more information or taking advice from competitors and coaches. Information can be a key to success.

Step 3: Be consistent

We want results that will last, not temporary results. Being consistent will help you establish results that will stick with you for the rest of your life. Continuing to pursue bodybuilding or a healthy lifestyle will give you just that, a healthy lifestyle. One of the biggest ways to achieve your best physique possible is by constantly putting in the work day in and day out.

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