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I’m Back! What I’ve Been Up To & Lessons Learned from Neglecting My Businesses for 3+ Months

backbypopulardemandI wanted to share a quick update with everyone as to what I’ve been up to the past 3-4 months.  I’ve gotten quite a few messages from people asking where I went to and why I haven’t been publishing new posts/podcasts on OIT, responding to emails, etc.

To be honest, these past few months I’ve not only neglected OIT but also the rest of my businesses.  As an estimate, I probably worked on them around 2-3 hours total since the beginning of March.  Unfortunately, some personal issues came up which caused me to not be able to put almost any time into them.

[Read more…]

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4 Tips to Make Sure You Stick with and Achieve Your 2014 Goals!

GoalSettingWe’re approaching the end of January and if you’re like most people, the freshness and excitement of your new year’s resolutions have probably worn off by now.  Only a few weeks ago you were telling yourself this was going to be “your year”, but now your motivation has fallen and you’re settling back into your old ways.

Stop.

We’re not even 10% into 2014 yet!  If you’re serious about sticking with and achieving your goals this year, whether they’re personal or business related, you still can!  Here are my 4 tips to help you CRUSH your goals this year and REALLY make 2014 your best year ever!

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Two Important Business Lessons I Learned from My Vacation to Puerto Rico

Puerto RicoAs an entrepreneur, it’s hard to not be thinking about business no matter where I am or what I’m doing.  My brain doesn’t have an “off switch” when it comes to entrepreneurship, so I’m always thinking about not only potential business ideas, but analyzing other people’s businesses and seeing what I can learn from them.  It may not be everyone’s idea of fun – but I find it fascinating!

So a couple of weeks ago when I went to Puerto Rico on vacation with my family, not only did I come back with a fun experience, but also a couple of great business lessons that I want to share with you today!

Lesson 1: Know Your Customer and Set Your Prices Accordingly

For a few days during our vacation we stayed at a upscale resort, which was an interesting experience.  One thing I noticed right away was that many of the things you’d typically get for free at a less expensive hotel, you had to pay quite a bit of money for there.  For example, a continental breakfast, which even the cheapest hotels usually offer for free, you had to pay $15/person for.  You also had to pay to park your car, even if you weren’t using the valet service.

While you may assume that when you stay at a more expensive hotel, more “perks” should be included – that’s not usually the case.  Why?  The hotel knows its customers, and sets their prices accordingly.

Most people who stay at a resort like that are usually pretty wealthy or their company is paying for it.  Either way, they have shown by paying for an expensive hotel room that they have money to spend on luxury and are not concerned with price.

So while paying $15/person for a few muffins and a doughnut may seem ridiculous to you and I, it’s completely worth it for someone with a ton of money or who’s putting it on the company credit card.  As a matter of fact, if the price was cheaper, the customers may view the food as “cheaper” and not want to buy it.

So when you are pricing your products and services, make sure you think about who your customer is and how much your customer would be willing to pay.  Sometimes a higher price can lead to more sales as it will give your product or service a higher perceived value.

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Mobile App Tycoon is Now Online Income Tycoon!

Brand ConstructionOk, I’ve hinted about it in my past few income reports and finally it’s official – Mobile App Tycoon is now Online Income Tycoon!  Rebranding the blog has taken a lot of time and to be honest has been quite a pain in the ass.  However, I’m confident that it will be worth it in the long run as I have BIG things planned for OIT and I’m excited to get started!

With that being said, I do want to go over some more details to fill you in on what’s happening with OIT and what to expect.

Why Rebrand?

Rebranding MAT to OIT was more of a personal decision than anything.  While I really enjoyed talking about mobile apps on MAT, I felt that I was limiting myself by ONLY focusing on apps.  In addition to apps I also have other online businesses, some of which I’m making significantly more than I am with mobile apps.  So by not talking about these other businesses simply because my blog was Mobile App Tycoon, I almost felt like I was doing you guys a disservice as well.

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Announcing My New Mobile App – Gift List Organizer

‘Tis the season…to launch new app!  A few days ago I published another app that has been in the works for quite awhile.  I’m happy to get this one off the to-do list, and it comes at a great time too – right before Christmas!

Gift List Organizer is another app I have been working on with a local developer as a partnership, just like I’ve been doing with MadLibs Word GeneratorThe guy I’m working with is an Android developer as well, so naturally this app is only available for Android devices currently.  However, if it does really well, we will definitely consider hiring someone to turn it into an iOS app as well.

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