Wednesday, September 12, 2007

Referral Strategies - Part 3

Referral Rewards Lets go through a list of rewards you could give people for referring you business. (Please read the Special Report on Automatic Success to understand the psychology behind this its available in your Immortal Members Area under Sales)

There are two ways to reward. 1. For referrals whether you sell them or not 2. For referrals where you make the sale

I encourage you to have systems for both. And like much of whats on the list below, you need to know your numbers to successfully use some of these methods I am about to share.

If you want to make each referral gift stay on the profitable side, you need to know

  • Cost per lead
  • Cost per appointment (if you have this in your sales process)
  • Cost per sale
The Marketing Analysis Calculator spreadsheet I prepared for you in the Software > Free Software of your Immortals Membership area is an easy way to begin tracking this information if you dont know it. Specific Rewards To go to a World Class level, you need to know your customers and keep notes on what your customers like and dislike. If you have good referral sources, you want to start rewarding them with things they really like personally. Not some generic across the board gift that any Tom, Dick or Harry is going to be given.

Your top referral sources deserve special treatment. Once you see a pattern of giving from someone, you may phone their secretary or business partner to find out a couple of things like

You start by saying,

Hi Mary, I wanted your help on something. John has been referring quite a bit of business to us and we wanted to do something special to thank him. Can you tell me if there is anything he particularly loves to do in his spare time?"

This will lead on to questions like -

What does John do on weekends?

What hobbies does he have?

What Team does he follow in sport?

Does he have any goals in life you could share with me?

Does he have a favorite movie, book or something else?

Then you ask them to keep your call a secret so you can surprise him. You organize your gift and send it through BAM! Now that has serious Wow Factor.

So lets go through a list of rewards you can put on your list. You may decide to arrange 5-10 rewards for varying amounts of sales generated. For example, $100 sales you give away X gifts. For $250 sales, you give Y Gifts, $500 plus you give Z gifts you get the idea.

Rewards (combine many on the list to create ultimate thoughtful gifts)

I find the key is to give people lifestyle enhancing gifts money is a boring cop-out! Money trading for referral strategies falls into a Joint Venture strategy under my definition.

Referral Rewards include things like -

Limo ride

Dinner for 2

Movie tickets

Live Show



Weekend Away

Harley Ride

Gift Vouchers to Favorite Store

Favorite Alcoholic Beverage

Bottle of Wine (standard)

Tickets to Sporting Event

Hot Air Balloon Ride



CDs music

CDs area of interest (i.e. self-help etc)

Send them a Special Report (from my Immortals Site like this one cheers!)

Massage voucher

Subscription to a magazine

Hire them a dream car for a day (Ferrari etc)

Flowers to turn up at their house / office

Organize a caterer to turn up at their house and cook a meal for them


Bath and Relaxation Products

I am sure this list will stimulate some ideas for you time to make your own list or add to this one. The more you do this and get to know your customers, the easier this is.

Now to my favourite... and WHY?

I think one of the best referral gifts you can give is a magazine subscription.


#1 - Because it is low cost.

#2 - It is something physical that gets sent to them and will act as a surprise every time it hits the letterbox.

#3 - You can custom choose the magazine based on what they have a passion or interest in - this is ultimate personalization.

"It's the thought that counts"

#4 - The monthly reminder keeps you top of mind for future referral generation.

#5 - It is systemized for you by the company that fulfills the orders - you only need to order it once - how easy is that?

#6 - The entire cost of annual subscription can be absorbed in the first sale you make (do your numbers)

#7 - They get 12 gifts for the one referral - over delivering at its best!

#8 - This gift naturally engages the Law of Reciprocity. If they fail to send more referrals, then every month they get a reminder when that magazine hits their desk. Before long, the natural Law of Reciprocity kicks in and they make an effort to send more people to you.

The system that you initiated and gets fulfilled by someone else creates a system of ongoing referrals - "Ultimate Leverage" Need I say more?

In Part 4, I will reveal the critical step - this is where most businesses fail to maximize their referral systems.

Until then...

Think BIG! Act BOLD! Have FUN!

Scott Groves is the Author of 6 Books, and Founder of "Immortal Entrepreneurs". His work has been endorsed by names such as Mark Victor Hansen, John Kanary, PhD's and CEO's worldwide. You can get more business growth strategies in Scott's Immortal Entrepreneur Members Area by visiting

Foreign Exchange Rate - Foreign Currency Exchange - Foreign Exchange Student

Several scenarios make a great decline of currency value like political uncertainties, unemployment that leads to higher inflation, other relevant issues that can hamper commerce and business from functioning well, and other macro-economic situations. This simply means you make decisions to buy or sell but dont put any real money down. The official currency of the European Union (EU), the Euro, was launched in 1999 with coins and banknotes issued in 2002.

This World recession effectively killed any growth in FX speculation as disposable income was at a premium. When people or companies hold foreign assets, there is an extra source of possible gain or loss, over and above the rate of interest or rate of profit earned by the asset itself.

If Denars are rare - their price will remain high in DM terms, i.e. But a strong currency (the Denar, in this case) is not always a positive thing. This World recession effectively killed any growth in FX speculation as disposable income was at a premium. Euro is a floating exchange rate, therefore market demand and supply controls the value of the currency.

Placing a foreign exchange hedge can help to manage this foreign exchange rate risk. At the end of WWI there was a brief period of massive currency speculation.

Stock trading is similar to owning part of a company or organization. It is often wise for the beginner to dabble in stocks trading before looking at Forex trading. If its people have the most employment, there are more needs for commodities and supplies that businesses are revolving as well as it use of money. All other currencies were pegged to the dollar at a certain rate.

Investors used to invest domestically mainly, but with the Euro introduction more investors are now attracted to euro areas. The exchange rate refers to the value of the US dollar against the values of currencies of other countries. It is an excellent way to get your feet wet without a whole lot of risk. If the US INFLATION rate is HIGHER, investors are LESS likely to prefer the US -even with higher interest rates- because of the expectation that the value of the dollar will be ERODED by inflation.

This has benefited the poorer member states which had weaker currencies previously for example Portugal, before the euro the Portuguese escudo was not that popular outside its own country or a particularly strong currency but now since Portugal is part of the EU its markets are much more attractive to other EU and non EU countries. Their lenders will also be afraid to lend them money, because these lenders cannot be sure that the borrowers will have the necessary additional Denars to pay back the credits in case of such a devaluation. If Forex exchange rate in our terms is equal to 100 yen to the dollar, the inverse would be $0,01 (one cent) per yen. One important way of encouraging people (and firms are made of people) to do things - is to allay their fears.

Learn more about Foreign Exchange Rate Foreign Currency Exchange Foreign Exchange Student

Utilities Disagree Over Spot Uranium Price

According to Fridays Nuclear Market Review (NMR), two off-market transactions were reported this past week for more than 500 thousand pounds U3O8 equivalent. NMR editor Treva Klingbiel wrote, Both transactions were in negotiations prior to the steep price rise last week and reflect prices below the currently published levels. NMR did not provide exact details of the sales price(s). The weekly spot uranium price indicator remained unchanged at US$113/pound.

No transactions took place in the long-term market. No new demand emerged. Uranium transaction volume for 2007 year-to-date remains the third lowest for the past decade. Only transaction volumes in 1997 and 2001 were lower at this point of the annual cycle.

NMR also reported on the World Nuclear Fuel Cycle conference which took place this past week in Budapest, Hungary. MITs Center for International Studies senior researcher Thomas Neff discussed whether it was still possible to substitute enrichment for uranium. Neff concluded, Given existing prices there is not sufficient enrichment capacity currently available for utilities to truly optimize the tradeoff between enrichment and uranium. In recent presentations in Geneva and Zurich, Neff expressed concern about the uranium mining and enrichment industries providing sufficient nuclear fuel to utilities to meet the demands of the ongoing nuclear renaissance.

Others expressed similar concerns. Synatoms Fuel Supply manager Gerard Pauluis told conference attendees, As the market matures, we will experience uncontrollable price spikes. Urenco senior executive Maurice Lenders told the conference, Suppliers and customers must be open about what they have and what they need so that supply will be available to meet demand. Urenco supplies enriched uranium to the market. The European consortium is currently constructing the first new U.S. enrichment facility in New Mexico.

Uranium Mining Stocks Analysis

Matthew Smith of TheInvestar news service reported, I think that a correction may be underway in the uranium sector right now as the index tried and failed two times to break through the 325 level and hold. Smith explained, A correction is due, and it seems that many of the stocks with Australian exposure may at this time be overbought on the speculation of the vote on the countrys Three Mines Policy.

We asked about Peter Farmers comments on the day before the company announced Denison Mines would be trading on the American Stock Exchange. Smith speculated, I believe they indicate he is simply trying to talk down prices. Smith pointed out the Denison chief executive was referring to properties in the early development stage.

Smith added that oil executives have been making these statements since the uranium price was in the $15/pound range all the way up. Earlier this week, Exelon Corps Jim Malone had voiced similar concerns the uranium price was unsustainable in a guest commentary for Fuel Cycle Week magazine. Malone also wondered in his editorial whether speculators were intentionally driving the uranium price higher to bolster the value of uranium mining stocks. Both appear to question the speculative value of the hundreds of uranium juniors which have jumped on the bandwagon over the past year. These sentiments agree with the conclusion of Yellowcake Mining director Dr. Robert Rich we found in a previously published interview.

Smith explained, It is simply the conservative nature of the executives not to let expectations get out of hand. These are sentiments expressed over the past few months by Uranium Ones Neal Froneman and Paladin Resources John Borshoff. As a market watcher, but not a registered investment advisor, Smith counseled, When markets begin to look as though they may be overbought, it is best to go to those companies with good valuations.

COPYRIGHT 2007 by StockInterview, Inc. ALL RIGHTS RESERVED.

Julie Ickes and James Finch co-authored this article. James Finch contributes to and other publications. His focus on the uranium mining and nuclear fuel sector resulted in the widely popular Investing in the Great Uranium Bull Market, which is now available on and on

Protect Your Important Computer Data With Offsite Backup Services

If you own a business that frequently uses computers to store data, then you probably realize the importance of having a dependable online file backup system. Without sufficient methods of data storage, your files are vulnerable and can easily be erased by power failure, employee mishaps, hackers, natural disasters, or an isolated computer crash.

One solution is to backup your own data using methods such as buying an additional hard drive for backup, or using network or FTP backup. These have advantages and disadvantages, but can be viable solutions if you have the time and capability to do your own offsite data storage.

If you don't have time to do your own backup, however, there are online companies today that offer services to protect your data for you. These are called offsite backup services. Offsite backup services provide the tools and space to store your important business or personal data daily so you can worry about other vital functions of your business.

How Online Backup Services Work

Online backup services offer an easy solution for online file backup at a low cost. The company offering the services will usually charge a monthly fee based on the amount of data storage space you'll need and how often you'll need to transfer data to their system. They will provide a special server and use protocols of their own to transfer and encrypt (or secure) your data.

Why are Offsite Backup Services Safer than Other Forms of Backup?

Offsite backup services are not foolproof, but they do provide a safe way to store your important data. One reason is the company can specialize and keep up-to-date with the latest technologies to keep your data safe from hackers and computer bugs. As a busy business owner, you probably will not have time to worry with this and you might not have the funds to hire a full-time backup specialist.

Another reason it's safer than using your own backup system is your data will be stored in a completely different location. You will have the information on your own system as well as another backup system far away. If and when a computer crash or some other event causes you to lose your data, you will have it stored in a different location to retrieve when you need it.

Choose Offsite Backup Services Carefully

When choosing offsite backup services, be sure the company is dependable and trustworthy. Your stored data should never be compromised for any reason. The company should offer a strict confidentiality standard and enforce it. You can check with the Better Business Bureau (online or off-line) to see if the company has any complaints against it.

Also, be sure the company is dependable. Storing your data using online backup services does you no good if you are unable to access or retrieve your data when you need it. Ask for referral names of people that have used the service before. Test the company with a small amount of data first to see how they operate. Being cautious at the start might save you many headaches for the future.

Using an online file backup solution can save you time and money. You can enjoy freedom from backup nightmares while allowing data backup experts to do the work for you.

Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies on the web. Learn more about Offsite Backup Services Explained or Majon's Business and Entrepreneurs directory

Forex Trading - What Moves Prices and How Can You Take Advantage?

If you want to take advantage of currency price movements and predict where prices might go you need to know what moves prices and why they occur.

This may sound obvious but many traders simply dont know and lose.

Lets find out exactly what moves prices and why and how you can take advantage.

Understand the following equation

Supply and Demand Fundamentals + Trader Psychology = Price movement

Prices are not simply a tug of war between supply and demand. As humans we put a value on the market and this is the unpredictable part of the equation.

When considering trader psychology keep in mind that it is humans that determine the price of anything, based upon how they see the facts.

Why is this important?

Its important because its humans that drive prices, with the emotions of greed and fear to the fore. It is the human element that you need to consider when trading the markets.

So how do you do it?

The obvious answer in FOREX trading is to use a system based upon technical analysis, simply follow charts and let them tell you which way prices will go.

As with todays fundamentals are instantly discounted in the price the news and data wont help you understanding trader psychology will.

Technical analysis acts as a way of studying the fundamentals, as it assumes that all the fundamentals are discounted by the market and will show up instantly in price action.

Charts do something much more - they show up the long term repetitiveness of human nature.

Unpredictable in the short term, but over the longer term certain reliable chart patterns can be spotted that are a reflection of repetitive human psychology.

Now consider this:

Each trillions of dollars are traded in the markets, by numerous participants and while in the short term these participants can be unpredictable, in the longer term human nature is constant and chart patterns repeat.

How to trade

When trading dont fall for the day trading story.

All short term moves are random and you can prove this by asking any day trader for a long term track record of REAL profits made in trading.

Ask for one and you wont get one.

Many new traders try and trade short term but as you can see above its why they lose.

You need to trade longer term and we would suggest using the weekly chart to spot the long term trend ( currency trends tend to last for months or even years) and then time your entry on the daily chart.

If you understand what we have just discussed you will see that a long term technical approach to trading is the best way to make long term profits from Forex trading.


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