Written by admin on 10 August 2010
In part 1 of creating unlimited wealth I talked about the mindset change necessary to go from taking incremental steps up the income ladder to climbing entire floors at a time. It’s so easy to allow your world view and mindset to limit your income potential – even in the entrepreneurial world. Many of you are already achieving what you originally viewed as ‘being successful’ by having your own business and making two and three times what you did at your 9 to 5 job but I want to challenge you to make that next step. It’s somewhat like thinking in another dimension – if that’s at all possible.
Before we get into the real meat of this subject I want you to ask yourself a few questions. You can answer these whether you already have your own business in place or are still working in the corporate machine.
- If you were seriously injured tomorrow, do you have systems in place and a residual income stream that would continue to flow even though you are not able to contribute to the process?
- When you think of a new business idea, do you immediately work out how to solve the immediate solution or does your brain work in such a way that allows you to be the guru or teacher of the process whereby you are selling shovels to the gold miners so to speak and create an exponentially larger business model?
The ‘secret lesson’ that I talked about in part one of this series is really very simple. The secret behind creating unlimited wealth is developing business models and income streams that can be put in place one time and then continue to work automatically allowing you to move on to the next model, implement, perfect, rinse and repeat.
Soon you have multiple residual income streams that free up your time, provide huge amounts of cash and allow you to develop even larger business models moving forward. Not to mention that each of these early business models provide customer bases that you can market the next bigger and better product. You’ve heard the phrase that a rising tide lifts all boats equally – It’s easy to see this with the huge popularity of the food network. As they fine tune their product offerings and add new stars and hit shows it has created huge mega stars out of the originals (Emeril, Paula Dean, Rachel Ray). Even Julia Child who has been deceased for years now is more popular than ever as her youtube videos and the recent hit movie about her life can attest.
Here’s the challenge – what activities are you currently involved in that consume huge amounts of your time and provide limited income (trading hours for dollars). These are the activities you need to get rid of – even it it’s the greatest portion of your income, find ways to weed them out of your life over the next several months or years. What activities or business models can you develop that with great care and planning on the front end can be put in place and left there to generate income with little or no input from you? These are the true unlimited wealth builders and exactly where the majority of your time and energy should be focused.
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Written by admin on 29 July 2010
I don’t know if you’re a teenager about to enter the workforce with your first part-time job or someone in their late 40’s with no retirement savings who has been struggling all their life to make ends meet. To be honest, I don’t really care because it doesn’t matter. Whether you learn the lesson late in life or early, the lesson still needs to be learned. What’s the lesson? Not so fast there Tonto…
It’s been 20 years ago now, but in the early 90’s I was several years into owning an HVAC contracting business and I attended a marketing seminar. I have no idea what was taught, nor do I remember the instructors name but I do remember that I was really impressed with his teaching style and delivery. I also knew that he had a knowledge base far beyond the material being taught as he would recount examples and add elements that were not in the ‘official curriculum’.
During one of the final breaks I walked to the front and struck up a conversation. I told him how much I appreciated his teaching style and asked his background and how it was that he came to be teaching our seminar as I’d not seen him at any of the other classes that were presented several times each year. He told me a bit of his background, that enjoyed teaching but had to severely limit his schedule due to his other businesses and obligations. Stupidly I asked how he limited his schedule and he answered very simply – I keep raising my fees. He then said something I’ve never forgotten – “I know I’m not going to live forever and want to enjoy as much of my life as possible, leaving a comfortable nest egg for my wife and children. I try to continually learn and improve my base of knowledge so that I become more and more valuable to my current and potential clients. Every 6 months or so I evaluate everything I do to see if it fits into my goal structure – weed out the less profitable and more time consuming elements and thus maximizing my time spent vs. fulfillment / profitability. Basically I live by this premise – Make More, Work Less, Retire Young.”
I’ve never forgotten that statement and although there have been times in my life where I allowed life and crappy circumstances to take over and manage me, I’ve continually tried to find ways to be proactive, analytical and make that happen in my own life.
As I travel around and talk to business owners, frustrated executives, people trying to start their first business or just the everyday blue collar worker trying to get out of the 9 to 5 drudgery with a home based opportunity there is one thing that limits their chance of success. It’s a mindset that has been inbred into our society since the beginning of the industrial age. The important lesson… the one that many have heard but few are able to really own and integrate into their lives.
Learn that lesson at http://MakeMoreWorkLessRetireYoung.com.
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Written by admin on 12 July 2010
The power of affiliate marketing is indeed something that should be looked upon if you don’t want to start up your own product. Some new marketers do not realize how difficult it is to create their own product, weather it is an eBook, program, or a type of package. First of all, you must look into the time it takes to do programming or if you are outsourcing the project – you should know it will be quite expensive. Not to mention the time it takes to create your own sales page. You may have to write the sales script yourself or even hire an experienced copywriter. Finding a copywriter who has the skills it takes to convert your visitors into interested buyers can be very difficult so references will be needed. Unless you dream of selling your own products, why not try affiliate marketing? This way you don’t even have to have your own website to earn money from products.
To become a successful affiliate marketer, you should pay attention to popular trends based on certain niches. The best way to do this is by concentrating on a niche that you enjoy so this will give you the option of working more since it is a part of your passion. That way if people start asking questions about the product, it will be much easier to explain because you have had experience in the field before.
One thing you might want to look into as a beginner affiliate marketer is Clickbank. They are one of the top affiliate search engines for those who want to find products. They literally have thousands of items that you can sell. Most are digital products such as courses and forms of knowledge while others can be different types of programs. I suggest finding a program or course that is fairly new, that way you’ll be one of the first people to promote it and most people will be apt to buy it through you. Another idea is offering the product on discount. Say, if they buy it through you – you can give them back $15 on their purchase. People love discounts so just let them know you’re an affiliate and most of them are happy to buy. As you can see, the power of affiliate marketing is endless these days.
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Written by admin on 26 June 2010
Welcome to Make More, Work Less, Retire Young – our new podcast and web site by the same name.
My name is Dean Martin and I’ve been online since the early 90′s – back when a high speed dial-up modem cost $700 and that was just for 14,400 baud to dial into bulletin board systems.
We got into the web design and hosting business in ’95-96 and have had various online businesses ever since.
It’s my opinion that anyone with a bit of drive, determination and the right knowledge can use this medium to create a very nice 2nd income or (if you choose) a primary income and a very nice living at that.
Our goal with this web site (and podcast) is to share the things we’ve learned over the years and are currently using along with interviewing some very successful people and in so doing give you new information and ideas to use in your own business.
Make sure to sign up for our email list to be notified of new shows coming up along with any late breaking info or case studies we do between shows.
We look forward to enjoying this profitable journey together.
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Written by admin on 23 June 2010
Over twenty years ago now I was at a seminar as a small business owner learning some marketing and management tips for small home improvement contractors. The speaker was a dynamic individual and a great communicator – the kind of presenter that you really listen to and that you know has a basic understanding of life well beyond the content they were hired to present.
During a break I had the chance to talk to him one on one and mentioned that I really liked his presentation style and asked what got him started in the business. Among the things he told me about his life the one thing that I’ll never forget is this statement about his life philosophy… “I’m not going to live forever and I want to enjoy as much of my time on this earth as possible and leave a comfortable little nest egg for my wife and children. I try to continually learn and improve at my knowledge base and teaching technique so that I become more and more valuable to potential clients. Every 6 months or at most a year I look at the kinds of jobs I’m doing and clients I work for and try to weed out the less profitable and add in ones that are more profitable thus maximizing my time spent vs. income produced. Basically I live by this premise – Make More, Work Less, Retire Young.”
I’ve never forgotten that statement and have tried to continually find ways in my own life to make that happen. Sometimes with success and a few times with a less than stellar outcome. My question for you is – are you letting your life dictate your circumstances and attitudes or are you being proactive about your journey and making decisions based on long term goals. Here are a couple basic truths that will always keep you focused.
1. Never stop learning and improving yourself. Life is much more uncertain now than it was twenty some years ago. If you’re relying on your current knowledge base and skill set to carry you through the next twenty years you are going to be left behind. Whether you work for yourself or another entity you need to add to your skill set and keep increasing your perceived value.
2. Be relentless with the 80/20 rule. Eighty percent of your time is spent producing twenty percent of your income and vice versa, twenty percent of your activity produces 80 percent of your income. Be relentless in either delegating away or outsourcing the less effective of your activities and leaving more time to leverage into high profitability areas.
3. Stop and smell the roses. You’re not going to live forever so find little ways to enjoy every part of the journey. It’s so easy for me to become focused on getting the next project done, improving efficiency or starting the next business that I forget to enjoy the journey. Before long, the long hours turn into days and years go by with not enough good memories and friendships to show for it.
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