For all 8 of today’s Cheat Sheet audio reports & the complete achieve click this link to listen for free via iHeartRadio: http://www.iheart.com/talk/show/Brian-Mudds-tracks/
Cheat Sheet Q&A - A better explanation of the new one touch options for mobile devices:
Today’s entry: I just heard you talk a about a one password app from Apple and one click pay on PayPal, is it an app or what?
Bottom Line: You may have noticed but I have a habit of over-thinking. Yesterday I introduced the new one-touch PayPal payment option for mobile devices. While doing so I also brought up the separate story I spoke of a few weeks ago involving the next generation iOS operating system (yet to be released) and the password storage app 1password. All I did was confuse the situation. So I’ll take both separately.
The PayPal mobile payment one-touch option is available right now for you if you have an active PayPal account and you’re logged into your PayPal account on your mobile device. Merchants who accept PayPal can enable a widget on their end that will enable you to shop and pay with just one click. So for example you could shop on EBay, Amazon, a local website and only have to click once to pay on each site.
1Password is a password storage company that has existing apps that you can use to store user names and passwords securely. The next generation Apple OS will enable 1Password to work in conjunction with the finger print security feature on their mobile devices. What that means is that any site that you have a username and password stored with via 1password will let you in with just your finger print rather than having to chicken peck user names and passwords into the site or app.
Hopefully that helps clear the confusion.
If you have a topic or question you’d like me to address email me: firstname.lastname@example.org
What's a smart risk when considering starting a business? (Brian's philosophy)
Bottom Line: As a former entrepreneur and small business person I’m asked about the prospects, risks, considerations, etc. of starting up a company rather frequently. Most of the time the focus is on going all in on a new idea. Yesterday a colleague asked me a slightly different question that is likely more effective for most adults with lives that are established and families to care for. What’s a smart, aka quantified, risk when starting a business? This is much different than going all in on a new concept. I do have three basic considerations for the person who’s willing to take the risk of starting up a business but don’t want, or can’t afford to take as much risk:
1. Find a fast growing sector with staying power
2. Identify all types of needs within that sector
3. Identify a unique way to service that need within the sector
The growth in the sector should assist in supporting growing pains associated with doing something unique.
Good news - mobile prices are coming down again. The new cheapest unlimited plans available for talk, text & data:
Bottom Line: Until about this time last year the cost of mobile service went in one direction. Up. In the late 90’s the average cost of a monthly cellular plan ran $30-$35 per month. Over the past decade a lot changed. Texting became more prevalent than talking. Video and media content became a possibility on your phone and who wants to pay 50 cents per minute if you go over your talk minutes so we wanted unlimited plans. With each one of those add on the price climbed. Today the average plan for just one person is $80 per month. For a family it’s $170 per month. But about a year ago a new positive trend did begin to breakout. T-Mobile was in a death spiral losing literally millions of customers to other providers. So they got extremely aggressive in cutting prices, eliminating contracts providing more options for service, etc. The net result was that the other providers all had to react and prices on many services and plans have come down (and T-Mobile has gained 2 million+ customers). So fast forward to right now.
Sprint has been losing market share and customers a la T-Mobile of a year ago. So as of today they’re dramatically cutting prices. The most notable is the family plan. As of today at Sprint you may have:
- Up to ten lines on one plan
- Unlimited talk and texting
- Up to 20 GB of data per month
For… $100 per month. This undercuts the closest competing product on the market (T-Mobile’s plan) which is $120 per month. Better still… It’s available to new and existing customers. So if you already use Sprint just call them up and save money. Plus you have to imagine that this will usher in another round of price cuts by the mobile service providers.
So you're thinking about cutting the cord... Guess what you're not regardless of what you decide:
Bottom Line: Early this year I forecasted something that has officially occurred. There are now more households that have internet service through traditional TV service providers than have TV packages through them.
In the most recent quarter just over 200,000 households net did cut the cord and/or dump this dish. But here’s the thing… 380,000 households net added internet service with a traditional TV service provider. Here’s the thing. Who’s the company that you have or used to have TV service with? Who do you use for internet?
- 93% of all Americans have internet service through a traditional TV service provider (and the other 7% are with providers that pay the traditional guys for use of the network service they offer locally)
That means that you can get away from them for TV service but not for good. It also means that as customer loses on the TV side occur they can offset the loss by gradual price increases for internet service. And gravy for them – internet service is far more profitable for them than the TV service side of the business.
So even if you get away from them for the TV service – they’ve got you for your internet access to everything else – including your streaming TV service.
Tired of being duped by ads that are posed as news stories? There's a new tool for that:
Bottom Line: Do you find yourself having an increasingly hard time figuring out what’s real news content online from paid ads that’s cleverly portrayed as an actual news story? If so and if you use Google Chrome or Firefox for your browser there’s a new free ad on that will alert you to ads when you come across them on news sites. It’s called AdDetector.
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I work every day to keep you ahead of the curve on the crazy state of the economy, business, investments and technology.
My motto: Passion plus talent is unstoppable.
My faith: Don’t worry I don’t use the mic to preach but… I firmly believe that without God in our lives happiness will never be found. I believe that many of our societal failures have resulted from a general willingness to distance ourselves from our founding values while embracing political correctness.
I'm in my 19th year with iHeartMedia and 11th in South Florida. With my father as inspiration, I started investing in the stock market when I was 11 and co-founded a smoothie company at 18. The highlights of my radio career have been serving as a fill-in for Sean Hannity.
I've made my share of mistakes along the way as well. I shape my perspective from success and failure to provide you with a truly objective picture of business and money in your world. Business and investing are passions of mine. Some read Dean Koontz... I read financial reports.