The Small-Scale Approach To Starting A Business Venture

by Matt Bacak

Starting out as an internet marketing entrepreneur, you may easily become overwhelmed with a variety of business opportunities and ideas for making money. I know firsthand that it’s not getting an idea that’s the problem. It’s what to do with all the ideas you come up with and all the business propositions available to you. Before I make a decision about a business venture, I look at five things:

1. Demand. Does the product, service or business venture have a clear market? Do people want this item or service? It’s a lot easier to capture existing demand than it is to create it. If I’m unsure whether or not there is a demand for something I want to provide, that’s usually a pretty good clue that it’s probably not going to work out. But if I really feel like it could be something my consumers want, I might just ask them. Better to find out now that my list isn’t interested in a potential product than spend a whole lot of time, energy and money creating something that isn’t going to sell because it isn’t wanted.

2. Profitability or ROI. Will this product, service or business venture make me money? What will my return on investment be? Sometimes, I can have a really great idea but once I look at the numbers, I’ll realize monetarily, it’s not worth it. There are times you have to scrap a project just because it’s not going to work financially. Always figure out what your profit margins will realistically be or even what the lowest estimate of profit will be before you start out with an idea.

3. Unique. Is the product, service or business venture unique enough to warrant me personally investing my time, energy and money into it? If it’s not unique enough, I could be wasting my time creating it when there is already several versions of it available to the public.

4. Automation. Can I create this product, service or business venture to run automatically? Now, I may not always want to do this but more than likely, I want to have something I don’t have to mess around with too much after it’s done. I only have so much time to invest in a project and that’s something to consider when deciding whether or not to go forward. However, if something can be automated or outsourced, that’s great. I can spend time creating other projects and pursuing other ideas for my business.

5. Longevity. How long can I sustain this product, service or business venture? How long will it remain profitable for me to do so? Can I see this withstanding the test of time or how long exactly can I maintain its profitability? This often gets overlooked by entrepreneurs because we are so excited about our new idea that we don’t focus on what’s going to happen long-term. But these are things we should know before we start out.

Once you’ve answered all these questions, then you can make your final decision about whether or not you should continue with your idea, your partnership, or your product. These five things can help you quickly and effectively determine what’s best for you and your business without the hassle of agonizing over every little detail before making a decision.

 

 

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7 Simple Millionaire Fundamentals

by Matt Bacak

People always want to know how to make a million dollars. That seems to be a pretty standard goal for most people. I can’t tell you exactly how to make a million bucks, but I can tell you the hardcore fundamentals I’ve used to get me where I wanted to be- making boatloads of cash each year. These are simple tricks that anyone can adapt to their business and to their life to start achieving the success they desire. So take a look at the 7 tips I’ve compiled to get you started thinking in the right direction.

1. Specificity. The truth is you can be a big fish in a little pond or a little fish in a big pond. Which one do you want to be? A big fish in a little pond, right? Whether you are starting up your business or you’ve been at it for awhile, you will benefit when you zero in on what you and your business are about. Have a laser-like focus for your business. If you try to have too many projects in too many areas, you will fail. It’s only a matter of when. Trust me, I know because I’ve been tempted with the allure of more projects equaling more money. But I quickly discovered when you stretch your energy, time and focus into several niches, you lose not only focus but money.

2. Create and fine-tine your flagship product. This goes hand in hand with specifying your market. Take a good long look at your business before you nail down exactly what you want your flagship product to be. Your flagship product should not only be a source of income for you but drive home to people what your business is all about. Focusing on a core product will also help you figure out what complimentary products you should sell and what products you should stay away from.

3. Fail fast. It doesn’t have to be right, you just have to get it going. I tell this to my employees all the time. I don’t care if you aren’t perfect at something right away. Just get on with it. The sooner you get started, the sooner you can fail. The sooner you fail, the sooner you can start doing it right and perfect it.

4. Be aggressive. So often we hear that being aggressive is not OK but that’s crap. In marketing, internet marketing specifically, you have to be aggressive. If you don’t put yourself out there constantly, you won’t get any results. You have to stay on top of sending out email, driving traffic and closing sales. If someone doesn’t like your perceived forwardness, then so be it. The product or service you’re offering isn’t for them anyway.

5. Always know your numbers. Every time something happens in your business, you should know about it. Whether it’s when you’ve made a sale or your conversion rates are decreasing, you need to know these numbers. Knowing what your numbers are, where they should be and where they shouldn’t be is key to maintaining success and pushing forward to achieve higher goals.

6. Systems. This is a big mistake I see a lot of entrepreneurs make, especially internet marketing newbies. The trick to streamlining your business is to create systems. From who does what, how they do it, how your numbers are tracked, even the tiniest details of your organization should have a system in place. Systems make things faster and more efficient. Without them, your business will be in a state of chaos.

7. Don’t ever stop making and achieving goals. If you stop creating goals, you’re going to become stagnant. Once you stop striving to achieve, your business is over. Even if you don’t reach the goals you set out to achieve, that’s okay. Just don’t stop.

There are many strategies to making money on the internet, but nothing makes sense unless you have a big list. Email Marketing is the most profitable way to make money on the internet. When you build a list of hot and hungry prospects you control your future. Discover how to use the internet and turn your computer into a cash gushing machine. Sign-up right now for Matt Bacak ‘s FREE online newsletter to find out how to do exactly that – Go here: http://www.promotingtips.com

 

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Fail Fast Like Google’s Co-Founder: The First Step To Marketing

by Matt Bacak

Several years ago, my wife attended an event put together by none other than the all-mighty Google and a few other big name companies. One of the things she told me that really hit her hard was when the co-founder of Google said that one of the reasons they were so successful at Google was because they fail fast. This is a key in business, especially internet marketing. Fail fast because the faster you fail, the quicker you can get to making the big bucks. Another way to look at it and something I’ve always told my clients is, you don’t have to get it right. You just have to get it going. You can figure out what the right thing is as you go but if you don’t get started, you won’t get anywhere.

So what do I do when I notice what I’m doing isn’t working? What steps do I take to get myself back on track to making millions?

First things first. I always look at my numbers. I harp on this again and again because many people just don’t get it. If you don’t have numbers, you don’t have a business. If you aren’t looking at your numbers constantly, if you aren’t tracking your opt-ins, your sales, your traffic, you aren’t running a business. You’re playing with a hobby. So I look at my numbers. The numbers can tell me if my sales are down, where my traffic is going, where my traffic isn’t going, it will tell me all these things. When I look at my numbers, I can see exactly where I’m losing people and I can start plugging the holes.

Now once I start finding that I’m losing people in a certain area, I ask myself some more questions like when did my sales start decreasing? Is it the product that I’m selling or is it the execution of my sales technique? Am I being consistent? Consistency is an integral piece of maintaining customers and making sales. Your swipe files should be consistent with the product you are offering. Also, they should be consistent with you, your image and your overall business. The bottom line is are you being consistent with what you’re offering to your consumers and how you’re offering it to them?

One of the biggest mistakes I see new marketers making is that they aren’t connecting with their audience. A lot of marketing is about eliciting a certain emotional response within a prospective and exploiting that response to get the desired result, a sale. If you aren’t making an emotional connection with the reader of your email, you aren’t going to make a sale. You won’t establish trust and likability with them and in turn, you won’t get them to turn out their pockets for you. So to get that emotional response you’re looking for, you need to have a complete and detailed understanding of your target audience. Once you know exactly who you’re marketing to, you will know exactly what to say and how to say it to connect with them.

Your number one goal in internet marketing is probably to make money and that’s admirable. We all want to make money. But the fact is that your first goal as an internet marketer should be to seek out and fill the needs of your customers. By doing that, you will make money. By getting started today, taking one little step at a time, you can and will succeed. Like I said before, you don’t have to get it right, just get it going. Or in the words of Google, fail fast.

 

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The Amazing Power of Using Negative Triggers

by Matt Bacak

Recently, I did a webinar with a good friend of mine, Michael Hauge. Michael’s the go-to guy for creating compelling stories having worked with top screenwriters, Hollywood A-list actors and the like to craft blockbuster hits year after year. Using persuasive stories in your copy gives you a huge advantage over your competitors. Using the right story with the right triggers activates an emotional response that motivates someone to purchase your product.

There are all kinds of triggers you can use in your copy to motivate someone to take the desired action, like buying a product, clicking a link, becoming a subscriber, etc. But one thing that most people don’t realize is that negative triggers can have positive results, often catapulting your sales figures into outer space.

So what do I mean by negative trigger?

Say for instance you were selling a weight loss product. A positive trigger would be something like, imagine the feeling of putting on your wedding dress after twenty years and having it not fit because it’s too big. You could weave a story that focuses on the positive aspects of losing weight like increased energy, increased sex drive, feeling more confident, whatever. The goal is to create a positive feeling in the reader or buyer’s mind.

If we’re still using the weight loss product as an example, a negative trigger could be something along the lines of a woman wanting to lose weight to show up the people who teased her in high school for being overweight at a twenty year reunion. Instead of playing up the positive side of losing weight, you would accentuate the negative side of being out of shape or like in the example above, being a chubby kid. Your copy might look something like, remember how it felt as a teenager to be the laughingstock of your whole school, all because you couldn’t lose the weight? For years, you’ve struggled to keep your weight in check but you keep packing on the pounds, year after year. And now a school reunion is coming up and you desperately want to seize this chance to show all those girls up. This is your chance to show them that you’re not the same person you were in high school.

The reason negative triggers often work better than positive triggers is because a lot of times it’s easier for people to resonate with pain than it is with pleasure. Or another way of looking at it (and I’m paraphrasing) is what Tony Robbins had a habit of saying- we seek pleasure and avoid pain. Personally, I find that more people are concerned with avoiding pain than they are with seeking pleasure.

Now I’m not saying to use negative triggers every single time because that’s not going to work and it won’t work for every single person. Part of excelling at copywriting is knowing when to use certain strategies. But keep in mind that using negative triggers at the right time for the right piece of copy can pack just the right punch you need to make the sales you want. It’s a powerful tool that many experts use and now you can use it, too.

 

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5 Marketing Lessons From A Reluctant Lemonade Salesman

by Matt Bacak

School just started back here in Georgia. The day before it started, my kids decided they wanted to do a lemonade stand. I told them before I would help them, they had to make a sign, find all the stuff to make the stand including a chair for me to sit in and I told them they needed to find a location. After they had done all that I asked them to do, we set out for the main drag in our neighborhood and set up shop.

The first thing they did right was waving at each and every person who passed by. Acknowledging each person you come across isn’t that hard but goes a long way towards building a relationship. When you begin building a relationship with someone, you inspire trust. Someone who doesn’t trust you won’t buy from you

The second they did right was doing the assumptive close. My son would ask them for the money and my daughter would make the lemonades. I didn’t even coach him on this. He just automatically asked each person, “How many lemonades would you like?” It wasn’t “Do you want a lemonade?” It was just a simple, “How many would you like?”

Now quite a few people said that they didn’t have any cash on them and they would return once they got the cash. I told my kids that whenever someone said they’d be back, tell them, “Can’t wait to see you when you get back.” Instead of just brushing them off, it’s important to tell people you’re expecting them to come back when they say they will. When you do this, people are more likely to return because it’s like they’ve made a promise to you to do so.

Another thing I told my kids to do was to thank the customer. When we finished with the first batch of lemonade, we made a sign that said, “Thank you. Sold out.” I had my daughter hold out the sign as people drove by. Then we made some more lemonade and sold out in about twenty minutes. After we sold out the second time, we stuck the signs in the ground near where their stand was so everyone would know we appreciated their business.

The cool thing is in about a couple of hours, my kids made $81 just from selling homemade lemonade. My daughter was hooked and after my son and I went outside, she actually made another batch of lemonade and went out with her mom to sell it.

The big lesson here, the lesson I want you to remember, is that once something works, do it again. A lot of times people think that when you do something once, that’s it. You’re done. But that’s not the case. People also think that you can’t make money where everyone else is making money because the market is oversaturated. That’s not true! If you find a market that’s making money, jump on it. If you find a product, create something, sell a webinar and it makes money, keep doing it. Keep doing it until it doesn’t make you money anymore. If you don’t, you’re missing out on easy cash.

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7 Tips For Mastering Facebook

by Matt Bacak

Let’s face facts. Facebook reports that there are over 1.28 BILLION monthly active Facebook users. That’s an insane number that should get you excited. And if you’re not using Facebook to your advantage, you’re wasting a precious resource.

These following tips can help you on your way to mastering Facebook.

Tip #1: Stay focused. Whatever your niche is, stay in that niche. You must have a laser-like focus on what you and your business is all about. If you stray too far from the center of your business, your audience will become confused. A confused mind never buys.

Tip #2: Include pictures. This is a simple trick that brings about the best response and engages the most people. We are visual beings but a lot of marketers forget that by only posting written content. I’m guilty of it myself. However, if possible, add a picture to your content. People will be drawn to it.

Tip #3: Pay attention to the day. Fridays are proven to the best day to post on social media sites, Facebook included. Don’t let the opportunity pass you by to grab attention from your fans.

Tip #4: Ask questions. Facebook and other sites like it are all about engagement. People want to feel like they are part of a community. Also, people love to talk about themselves. Ask a simple question that they can answer in a sentence or less. This way, it’s almost just too easy to respond to you. For instance, if you have a Facebook fan page about turtles, ask your fans, “What’s your turtle’s name?”

Tip #5: Create contests. Contests are a great way to get people participating on your Facebook page. Everyone loves contests. The contest can be for a free prize, recognition, money, anything you can think of. Make sure that the rules of the contest are clear so that’s there’s no confusion as to what your fans are winning and how.

Tip #6: Incentivize to get fans. Think of it this way- what does your Facebook provide to your target audience? Your goal should be to find what motivates your target consumer. Once you know what motivates them, you can incentivize your page to grab their attention and readership.

Tip #7: Be emotional. Eliciting an emotional response is one of the fastest way to get someone to purchase a product and it’s also a great way to get people engaged. Often, businesses discount the emotional response portion of marketing, thinking that having a good product is enough. Sometimes, it is but they’re missing out on a lot of people buying their product and talking about it because they haven’t given them a reason why they should care. Don’t be a nameless entity. Let your readers know who you are and what you’re all about. That will tell them why your business matters.

Bottom line is this: you’ll never get anywhere with internet marketing unless you take action today. One of the best and biggest steps you can take to further your fan base, your reputation and your bank account is by using Facebook to your advantage. So go get started!

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4 Strategies I Learned From Oreo’s Super Bowl Tweet

by Matt Bacak

If you aren’t familiar with the story of Oreo’s famous Super Bowl tweet, let me give a quick rundown of what happened.

The date was February 3, 2013. The teams were the Ravens and the 49ers. I can’t remember how the Super Bowl ended or even any of the few funny commercials that played during that time. But I do remember that the power went out and I also remember Oreo because of the genius of Oreo’s advertising company.

Oreo tweeted a simple message during the power outage, “Power out? No problem.”  They also used an image with the simple message, which you can view here: https://twitter.com/Oreo/status/298246571718483968/photo/1 and the words, “You can still dunk in the dark.”

So the million dollar question is why am I still talking about Oreo in 2014?

Oreo’s tweet during the Super Bowl of 2013 is a great reminder for internet marketers about seizing opportunities and capitalizing on social media. Building your brand is no longer a long, drawn-out process that requires millions of dollars and lots of manpower. In minutes, you can have your message and your brand out there to the public, to a huge audience for consumption. All it takes is a little diligence and creativity.

Let’s dissect Oreo’s approach and see what they did right:

They responded quickly. By responding to the power outage while it was happening, they became a current event, instead of past news.

They kept it short. Keeping the message super short made it super easy to share and retweet. This caused their message to keep expanding in Twitter to more and more people.

They included an image. Images are powerful tools all marketers should be using in their campaigns. We are trained to pay attention to images. An image stands out in someone’s mind versus just a worded tweet.

They explored all their options. Oreo actually had an ad running during the Super Bowl. It was a commercial like any other commercial that they spent a lot of money on. But they weren’t content to just sit back and let the commercial do all the talking for them. In today’s world, you must have the ability to have your hand in all the pies, so to speak.

We could all take some notes from Oreo and be better marketers. I think the key thing to take away from all of this is to stay relevant, keep it simple, keep it visual and be engaging. When you’re creating content, writing a Facebook post or a tweet, crafting an email or selling a product, find ways to engage your audience just like Oreo did with their Super Bowl tweet heard around the world.
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Pissing Off Your Subscribers: A How-To Guide

Pissing Off Your Subscribers: A How-To Guide

by Matt Bacak

 
I’ve been an internet marketer since 1999. Throughout the years, I’ve learned how to make my subscribers happy by learning first what pisses them off. I didn’t learn this information from a guru. I didn’t buy this information from a friend. I earned this information straight from the source- my list. Take a good long look at these following mistakes before you become just another bad taste in somebody’s mouth.

Mistake #1: Confusing Subject Lines. I want to be clear here because I think there is an important distinction I must make for some of you reading this article. There have been times where I’ve sent out an email with a subject line that may have confused my reader, initially, before opening said email. Once they opened the email, however, the subject line should have suddenly made sense. What I mean by confusing subject lines is when you have a subject line that is a complete mismatch to your message. If subject line A reads, See Pictures of Pineapples, then there’d better be some dang pineapples pictures in my email. If I don’t include pictures of pineapples, I’m setting myself up for failure because not only do I look dishonest but whoever was excited to see those pictures is going to be pretty pissed off.

Mistake #2: Keeping Unsubscribes On Your List. This is a big, big mistake. Not only is this ILLEGAL but it’s also infuriating. Have you ever unsubscribed from an email newsletter only to keep getting that newsletter in your box every day? Talk about frustration! The fact is that an unhappy customer is way more likely to speak out against you than a happy customer is to speak out for you. And an unsubscribe still getting emails from you is going to be one unhappy customer.

Mistake #3: Forgetting About Mobile Devices. Huge mistake that a lot of older marketers don’t realize they are doing. Everyone is on their phones these days whether it’s waiting in line at the store, sitting a doctor’s office or even laying in bed. Not only are people on phones but they’re on tablets of various shapes and sizes a lot more often than they’re on their desktop or laptop computer. So take that into consideration when you’re drafting up your emails. Think about how your email will be viewed on a mobile device. If your emails aren’t mobile-device friendly or especially optimized to recognize the type of device viewing it, you could be losing sales and subscribers.

Mistake #4: Focusing On The Sales. I know a lot of you just said, “What?!” It’s good to focus on the numbers you want. I do that every single day. But, you can’t focus all your attention on sales because if you do, you aren’t going to make any money. Listen, consumers don’t care about whether or not you make money, am I right? I know I’m right. Consumers care about themselves and you should care about them, too. When you care about your subscribers, listening to their problems and what they need, you are building long-lasting relationships with them and you are building trust. And yes, you are also building your wealth. So focus on the sales but not ONLY on the sales.

Mistake #5: Writing Sales-y Emails. What do I mean by that? I mean writing emails that aren’t personable. I mean writing emails that sound like you’re a car salesman in a bad, third-rate movie. People are going to recognize if you aren’t being sincere and if you’re not being yourself. They won’t like it, won’t respond to it and won’t buy from you. So don’t pretend to be someone you’re not. You aren’t Zig Ziglar so don’t act like him! Be yourself.

Recognizing these mistakes when you do them and hopefully before you do them will go a long way for your business. I think the golden rule of thumb here is to ask yourself, would this be irritating to me? If the answer is yes, then don’t do it. It’s really that simple.

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5 Essential Skills Every Internet Marketer Should Learn

5 Essential Skills Every

Internet Marketer Should Learn

by Matt Bacak

 

My main focus as an internet marketer is building my list. Day in and day out, I’m focusing on getting more subscribers, getting more clicks and building a list of buyers. Over many years of email marketing, I’ve learned what it takes to be successful and the good news is that the skills needed to do just that are easy to learn and easy to implement.

Essential Skill #1: Build a relationship with your subscribers. This is a vital key element to building a successful list. Many entrepreneurs think that email marketing is all about making money. And in a way, it is BUT your main goal in to serve your customers. If you are serving your customers, treating them respectfully and growing a relationship with them, the money will follow.

Essential Skill #2: Know Your Customers’ Problems. Every day, I ask Dave, who handles all my customer support, what’s going on in the customer support box? I want to know what my subscribers are saying. When they send an email, describing a issue they’re having with my products, my emails or just anything at all, I want to know so that I can one, give them the support they need and two, find a way to fix that problem for other people before they have it. Sometimes all it takes to fix an issue is to mention it in the email I’m sending out or in the sales letter of the product.

Essential Skill #3: Track your numbers. If you aren’t tracking your numbers, you’re not running a business. In my office, we have a board where we track everything from the size of our list to daily clicks, daily EPC and the amount of money we made each day. When I make a new product, I split test everything to see what will get me the best results. Everything I do, I track the numbers so I know what’s making me money, what’s losing me money and what can be done better.

Essential Skill #4: Create content that’s meant to be shared. It’s so incredibly easy to share content these days. People are on multiple social media sites, have their cell phones on them at all times, play on their tablets at the end of the day, surf the web during their lunch break, etc. So when creating your content, whether it’s an email or a blog post, ask yourself if it’s worth sharing. Is it relevant? It is easy to consume? It is easy to share? Is it interesting? Take into consideration what people share, where they share it and to whom.

Essential Skill #5: Play to your strengths. When I first started out in internet marketing, I had a newsletter where I had conversations with millionaires. I didn’t claim to be a millionaire, because I wasn’t. I sat down and had conversations with millionaires in the business that I aspired to be like. Now, after several years of experience, some people consider me to be a guru. That’s cool with me but the important thing is, I haven’t changed who I am. Yes, I have a lot of experience but I’m still Matt. I don’t pretend to be someone I’m not. When I get on stage at an event and speak about my business, I get up there in my shorts and a t-shirt. Most of the time, a cuss word will slip out here and there. And people love it because I’m not afraid to be who I am, just a regular guy who knows how to make money online.
 
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7 Myths About Mobile Marketing

7 Myths About Mobile Marketing

 

By Matt Bacak

The fact is, more and more people are using their mobile devices to surf the web, check their emails, play on Facebook, view content, etc. than ever before. The goal of any internet marketer is to be as widely available as possible and if you’re following these myths below, then you’re losing out on cold hard cash.

Myth #1: Mobile marketing is a fad. You’re simply an idiot if you think mobile marketing is not here to stay.

Myth #2: You don’t need to change your website for mobile users. Of course you do! A consumer’s experience on your website should be rewarding. Your content should be easy to view and your website should be easy to navigate. A person who visits your site should be able to find what they’re looking for fairly quickly, within a couple clicks. If they aren’t able to do that, they won’t waste their time. They will quickly jump to another site that’s easier to use.

Myth #3: You don’t need an email capture box. This is just downright blasphemy. Every single website you own, even your personal website, should have a lead capture spot on it that’s easy to spot and downright hard to ignore. Compel people to sign up for your email list by promising good quality content they’re interested in and then deliver.

Myth #4: Personalization doesn’t matter. If someone is coming to your site for the second time, is their experience different than the first time they came? It should be. Recognizing returning visitors is a way to build a relationship with them, by giving them discounts, showing them saved pages, etc. Look at it as an opportunity to deepen their trust of your and/or your brand.

Myth #5: You must have a lot of content. It’s true that content is king but it’s easy to overwhelm customers, especially mobile device users, with too much content. It’s best to give them snippets of the content so they can read a little and then decide whether or not to go further and pursue that information. But, here’s a warning- if the main purpose of your website is to sell to customers, then you want that to be evident and obvious that they are going there to purchase, not to explore. So keep that in mind when choosing what to display on your website.

Myth #6: Nobody’s going to share this stuff. You never know. Many people see something and while they may not be interested in that product or your site, they may know someone who is interesting and ready to buy. So make everything on your website easy to share on various sites like Facebook, Pinterest, Twitter, etc.

Myth #7: I don’t need to go out of my way to create an app. While this may be true, if you have the resources available to you and the clientele to back it up, consider creating an app. Lots of users enjoy the ease of using an app versus having to go to a website and log in.

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