All About Crypto Portfolio Management

The past decade has seen an exponential rise in the number as well as the investment in cryptocurrencies. It has caused significant changes in the financial market. The crypto market is highly-rewarding and presents an unprecedented opportunity to make short-term and long-term gains. However, the market is also subject to extreme volatility and frequent fluctuation.

Most retail investors invest in a popular cryptocurrency with hopes of making massive gains. However, it is not advisable to put all your eggs in a single basket. All cryptocurrencies experience a period of high rises and lows. This can cause significant financial losses for the retail investor.

Hence, it is crucial to have a risk-adjusted portfolio of cryptocurrencies.

Crypto portfolio management allows you to generate high incomes while managing your investment risk. Let us understand crypto portfolio management and its many benefits.

Crypto portfolio management

For many people, investing in cryptocurrency means buying a few Bitcoins. However, Bitcoins are just a part of the huge crypto market that consists of more than 6500 currencies.

Your crypto portfolio refers to the unique selection of cryptocurrencies you chose to buy. Investor tries to maximize their returns while reducing their risks. The value of your crypto portfolio depends on the market price of these cryptocurrencies.

However, it is essential to understand that different investors have different risk appetites. Hence, what works for someone else may not work for you.

Crypto portfolio management refers to risk management by creating a unique mix of cryptocurrencies.

Benefits of Crypto portfolio management

Some of the benefits of crypto portfolio management are as follows:

1. Diversification

The benefit of a well-balanced portfolio is the diversity it offers. The Crypto market is volatile and highly unregulated. It is very often seen that the price of a cryptocurrency skyrockets and then takes a nosedive.

If you invest in a single cryptocurrency, the changes in the market value of the currency will directly impact your investment. As a retail investor, you may not be able to accommodate such fluctuations, and it can destroy your wealth.

Hence, it is advisable to diversify into a few different cryptocurrencies. This will enable the downfall in the value of one currency to be balanced by the rise in others.

2. More chances of selecting an outperforming asset

When you invest in different cryptocurrencies, you increase your chances of picking an outperforming asset. Years ago, when bitcoin was launched, nobody could anticipate its capability and future market value.

Similarly, there are a few cryptocurrencies that may achieve exponential growth in future years. Crypto portfolio management increases your chances of picking such currency.

3. Rebalance your portfolio

Crypto portfolio management allows you to rebalance your portfolio to help you maintain an adequate ratio of the asset. The gains in an outperforming cryptocurrency are used to invest in other assets to rebalance your crypto portfolio.

The Key Tools of Marketing and Weapons of Influence

Before you can have your ultimate, fine-tuned business, you must turbo-charge every aspect. Use the 7 Key Tools of Marketing and the 6 Weapons of Influence.

This article will identify and briefly explain each of the 7 Key Tools of Marketing. It is important to understand that once the mechanics of setting up and operating these 7 Key Tools is performed, it is the message that will influence the reader to take the action you want them to take. There are 6 Key Weapons of Influence and this post will briefly introduce them. It is the combination of the mechanics of marketing, which are the 7 Key Tools of Marketing, and the message principles, which are the Weapons of Influence, that enable your business to be successful!

Here are the 7 Key Tools of Marketing.

Tool 1. Advertising. If you have the budget for it, advertising has the broadest reach and creates the most top-of-mind awareness. Here is what you must do to create high response-generating advertising. Be distinctive. Capture attention with a screaming headline. After your headline hooks them, the copy or the message in the body of your ad has to keep them reading. Be sure to include a Call to Action.

Tool 2. Direct Mail. A successful direct mail campaign depends on how regular and consistent your mailings are. First, use color as much as you can. Second, put messages on the envelopes. Third, think about the way you sort your own mail to increase the chances of the envelope being opened. In conclusion, use direct mail as a weapon for attacking your dream prospects.

Tool 3. Corporate Literature. Consider corporate literature to be like your direct mail pieces. Your brochures must draw from your education-based marketing efforts and should be a miniature version of your pitch or core story. It must have riveting data however remember that facts tell but stories sell. Use the same graphics that you use in your presentations, advertisements, and direct mail pieces to enhance cohesion of your marketing efforts.

Tool 4. Public Relations. If you throw splashy events such as trade show parties and benefits for your clients, you are doing PR work. PR also includes press releases, building relationships with the press to get articles written about you, and affiliating with strong forces that can help you such as trade associations and community groups. Most companies do not have a cohesive, highly effective public relations effort, yet it can work miracles for building your fame, even if you are a small company, especially with the reach and pervasiveness of the Internet.

Tool 5. Personal Contact. Personal contact is the most potent form of marketing so do it often and have quality conversations with your prospects.

Tool 6. Trade Shows and Market Education. Trade shows are a great way to provide product and market related information to your prospects. When done properly, it can take you from obscurity to the top of the market in a single event. If not done properly, it can be a big waste of money. Follow these three rules to have a great trade show. 1. Get noticed. 2. Drive traffic. 3. Capture leads.

Tool 7. Internet. The Internet can create an awesome opportunity for your business or it can become your worst nightmare overnight if some competitor learns how to utilize it better than you. As an example, Amazon struggled in its early years but it still took $1B in market share from other booksellers. Because Amazon grew with the Internet, it reached the $1B in sales in four years. Prior to the Internet, other bookstore chains took 50 years to reach $1B in sales. Here are the five key activities to perform on the Internet. 1. Capture leads. 2. Build a relationship. 3. Interact as much as possible. 4. Offer a webinar. 5. Convert traffic to sales.

It is important for all these key tools of marketing to work together. Your content and your message should be, of course, consistent and all the duplicated, or syndicated, content be cross-referenced in some manner.

Here are some important questions to ask as a way to ensure the key tools of marketing are effective. Are all your articles on your website? Are they available as downloads? Are they available to site visitors so they can be shared and or mailed to others by your site visitors? Does your content generate leads for your business? Do you offer free education as a way of building your leads list?

As mentioned at the beginning of this article, it is important that the weapons of influence (contained in your content, your pitch, and your storyboard) are used to get your prospects to take the action you want them to take.

To help you understand the power of the weapons of influence, do you feel as if you are an easy mark for the pitches of peddlers or fund-raisers? Do you find yourself in possession of unwanted magazine subscriptions or tickets to various charity events? Why is it that a request stated in a certain way, is rejected while a request asking for the same favor in a slightly different way will be successful? The key is the psychology of persuasion, sometimes referred to as the weapons of influence.

Here are the 6 Weapons of Influence that need to be considered when preparing your message.

Weapon 1. Reciprocity. This rule is the old give and take and says that we should try to repay in kind what another person has provided us.

Weapon 2. Commitment and Consistency. Like other weapons of influence, this rule is quite simply our desire to be, and to appear to be, consistent with what we have already done. As an example, if we buy a small item, we are frequently asked if we would like to supersize it, or buy another item for 50% (as an example) more; all presented to us at the same time. This is part of the up-sell process.

Weapon 3. Social Proof. This rule states that we determine what is correct when we find out what other people think is correct. Said another way, we think we will make fewer mistakes by acting in accord with social evidence than contrary to it. This is why testimonials are so popular for a product; they make us think that if all the people in the testimonials like or are using the product, how could we be wrong for also using it.

Weapon 4. Liking. This rule is based on the fact the most of us would prefer to say yes to the requests of someone we know and like. As trivial as it may seem, prospects are more likely to purchase from a sales person if the sales person were similar to the prospect in terms of age, sex, religion, politics, and several other factors such as recreation, and even career, activities.

Weapon 5. Authority. We are trained from birth that obedience to proper authority is right and that disobedience is wrong. This message is carried forward in the legal, medical, military, and political systems we encounter as adults. Advertisers frequently harness the respect and influence accorded to doctors in our culture by hiring actors to play the role of a doctor and speak in a positive way about a product. The message from the doctor, an authority figure, can sway or influence prospects to purchase the product.

Weapon 6. Scarcity. The appeal for something of interest increases when we learn that it will soon become unavailable. This is based on the rule of scarcity. There is a secondary source of power, or influence, with the scarcity principle. As opportunities become less available, we lose freedoms and we hate to lose freedoms we already have. Whenever free choice is limited, due to the scarcity of something, the need to retain our freedom makes us desire them significantly more than we did previously.

By understanding and using these weapons, you have the ability to produce a distinct kind of automatic, mindless compliance from people that have a willingness to say yes without thinking first.

With the ever-accelerating pace and information crush of modern life, this form of hypnotic writing that generates unthinking compliance will be more and more prevalent in the future.

As a result, it will be important to understand the how and why of automatic persuasion using the weapons of influence.

The 7 Key Tools of Marketing and the 6 Weapons of Influence are being used by The New Professionals as a driving force for their success with their home-based businesses. As The New Professionals are becoming The Next Millionaires, this makes a home-based business opportunity very appealing for many seeking a career change.

Just The Basics – How to Start Generating Income In Your New Network Marketing/Direct Sales Business

Whether this is your first year in a home business or your tenth, there are some basic things that you should do in order to start generating regular income.It is important to understand that your attitude is critical when it comes to being successful in any business. Therefore, you must start your new business with the mindset that it is a real business. The fact that you are working from home does not change that. It certainly doesn’t stop you from earning a tremendous income should you desire to do so. There are people just like you that literally earn millions from the comfort of their homes . These people not only recognize the potential of the industry but always treat their businesses with the respect and dedication that they deserve.Personal growth comes before the fortune. You may have heard that before in one form or another. It simply means that you must educate yourself first and the money will follow. Can you bake a cake without knowing the recipe or how to operate an oven? How about drive a car without knowing how to get it started? Do doctors practice performing surgery before they learn the skills required? Hopefully, you will get the picture. It doesn’t matter if you are doing something as simple as baking a cake or complicated as brain surgery, you have to learn some fundamental skills first or you are certainly headed down the path to failure.So, what skills are required to build a profitable home business? Assuming that you have already mastered having the right attitude about your business, here are some basic skills that you will want to learn or improve.People SkillsTime Management SkillsMarketing SkillsPeople skills are required because this is really a people business and not necessarily a sales business. Yes, there are plenty of individuals and teams that teach sales techniques as the primary way to build their businesses, but it is not always the best solution for the average person in network marketing. Most people are resistant to this method of team building and it makes it very difficult for them to grow a profitable business. There are always exceptions but we are not talking about those people. By developing some basic people skills, it will help you to communicate more easily and find out what the other person actually needs. Maybe they need your product versus extra money. It is your job to find out how you can help them and not push them to join your business. You might check your local bookstore for “How to Win Friends and Influence People” by Dale Carnegie.Time management is extremely important because it is very easy to get distracted while working from home. Children, televisions, and other things can result in zero productivity for anyone who is not accustomed to this environment. You must learn how to use your time wisely and to set aside consistent hours each week to work your business. In addition, you want to use your allotted time effectively. That means that you are constantly working on tasks that will help to truly grow your business. Organizing your office every day may indirectly help in having better time management but it really isn’t a “business growing” activity. Focus your time on tasks that will expose your product or service to potential customers or partners. It is very difficult to be successful without good time management skills.Marketing is an income producing activity and another critical skill that you should constantly learn and improve. Marketing is a very broad term but it basically means “the activities involved in the transfer of goods and services” or how to get the word out about your offer. Creativity and consistency are two words that come to mind when one thinks about effective marketing. So, how does a new home business owner go about marketing their products?First, you must realize that network marketing is a business based a great deal on duplication. If effective marketing techniques are duplicated throughout your organization, that provides the greatest opportunity for rapid growth. You should find and use strategies that can also be used by anyone on your team. There are people that have the financial resources to purchase full page color ads in national magazines but that is not the kind of marketing that is easily duplicated by everyone in your business.Here are some other suggestions…Read and learn about marketing tipsLearn from team members that are successfulBe consistent and persistent and market dailyWatch your marketing dollars/budget closelyHire professionals or outsource when requiredEmploy sweat equity or money equityUse marketing that fits your personalityDistribute samples whenever financially possiblePut your business cards into the marketplaceNetwork with other business ownersShare with family and friends when appropriateSearch internet for creative marketing ideasKnow your primary target market and how to find themMany years ago a very successful network marketer told me that success was based on 99% consistency and persistency, and 1% skill. Those numbers may not be totally accurate but the basic concept holds true. If you performed a very simple action of giving out 2-3 business cards daily for 90 days, you are very likely to generate interest, customers, and potential business partners.There are many ways to build a business and start making money in network marketing. However, if I had to narrow it down to just one thing, it is targeted MARKETING.However, keep in mind that having a marketing plan without action is useless. You must commit and implement your full marketing strategy. How many times have you ordered business cards and left them in the desk drawer? Have you ever ordered 100 leads and called only 10 of them? Your business will not thrive unless you tell someone. How you go about telling them is up to you.If you are serious about generating income in your new home business, make a personal commitment for the next 90 days. Find a marketing technique that is a good fit for you and put it to work daily. At the end of that 90 day period, evaluate how successful you have been at being “consistent.” Your check will normally be a direct reflection of your previous daily actions.Remember, “procrastination is the killer of all dreams.” Make a decision today that you want to generate a real income from home. Once that decision is made, identify the products/services that you want to promote, choose a few marketing techniques, and take action. 90 days (or less) is all you need to see measurable results. A few weeks of solid dedication can change your entire life.