GordonJ
August 25, 2022, 06:01 PM
Over the next week, I am going to rant. Maybe rave. Possibly bloviate, prattle and babble.
Not that I am personally irked, I'm as blissful as can be.
More in response to the Internet/Life/the world in general.
And starting with MONEY, or more specifically, how to make it.
My 30 year+ mantras on the subject are: A) You don't get paid for doing nothing B) Money is an exchange of value C) Where the head goes, the body follows.
Not a formula, maybe bullet points...but, in my opinion, all you need to know about it.
The thing is: most folk are not taught to ask the right questions. So, they linger, or procrastinate, or just spin their wheels not knowing where to start.
So, if you accept the premise that you aren't paid for doing nothing, it presents one the question...WHAT can I do, or should do, or what is the best or fastest, etc. etc.
And the go to answers everywhere are do what you love, follow your passion OR, sell what people are buying. Maybe a lot of nuances in between, depending on how you split those hairs.
For the next week, I'll give my Gordonisms, take em or leave em...and do what makes you happy.
I think all money making or business pursuits (two different things, start a biz or just make some dang money) should begin with an
ASSESSMENT. Today, the popular assessments are almost all affiliate programs, so do your due diligence when searching for one, I found almost all review sites are affiliate, and most often, will put high paying affiliate offers, like the Wealth Dynamics test up on top...although, almost all their suggestions have a pay off for them.
I suggest one start with Google and FREE Entrepreneur assessments and get sites like:
U.S. Chamber of Commerce
https://www.uschamber.com/co/grow/thrive/free-personality-tests-for-entrepreneurs
Of course, if you have some coins to spend, you can give Wealth Dynamics, and Myers-Briggs, and any other one.
Now, you can just take a piece of paper, look in the mirror and ask yourself what you like to do, what you are good at, and maybe watch a free video on Youtube and "borrow" the terms from some of the tests, like WD: the Mechanic, Creator, Supporter, etc., etc.
Or what your MB letters are: ISTJ OR ENTP. Some of these are pretty cheap.
Again, and I need to emphasize this, maybe asking friends and family what they think your strengths and weaknesses are, maybe just as benefical as shelling out bux for a test. Your library, I'm sure, has a copy of What Color is Your Parachute, full of all kinds of ways to help you to get a good
ASSESSMENT.
Look, if you are shy, awkard around people, stutter or are slow speaking, maybe selling vacuums door to door is not going to work for you, eh?
But here is one catch, I've had, and it has tripped me up more than once in my life.
Just because I am good at something, doesn't mean I should pursue it as a money/biz venture.
I think most of us are good at several things, so one caution is, just because you score high on a test, and you can be good at it, doesn't mean in any way it will satisfy you or even be profitable. So, that is my caution about following your passion and the money will follow.
Maybe it will. Maybe it won't.
Whether you pay to have an assessment done, use a do it yourself format, or just makes lists on paper or your computer/phone...it helps to begin from a point of KNOWING what you can do, what you don't really want to do and go from there.
Add in TIME, how much time will you spend on your $$ ventures? A part time gig or side hustle? A job replacement eventually? Building a big business?
Whatever your $$$ goals are, they are going to take X
amount of time.
My experience has been, most people OVERESTIMATE how much time they actually have to work on these things. And it creates hurdles hard to get over right out of the gate.
Be conservative with time estimates. Things (all things) tend to take a bit longer than we plan for, I don't know why that is true, but it is. With few exceptions.
I don't think making money is that hard, and this brings up; Where Your Head Goes, Your Body Follows. Everyday at forums, Facebook Groups, YouTube and social medias I see people wanting to get started with Internet Marketing or hankerin to start a business and there is no shortage of BAD advice out there. I try not to contribute too much to that pile of bile.
If making money is an exchange of value, then wouldn't a better first question be (as opposed to What can I do, what niche should I do, pick a way for me, etc.)...
instead of seeing all these scores and tens of thousands of people wanting to make money, I ask, what do you have to EXCHANGE?
And this is flabberghasting to many. What do you mean? I want to know how to make money, how to get started with affiliate, how do I sell on eBay, or how do I set up a store on Amazon or shopify.
It is always, I want, I need. I want to get, GET, GET. and for the last two decades and before, I have asked:
What do you have to give? To share? What knowledge, skill, experience do you bring to the money making buffet? And it is truly a dumbfounding question to so many, it in facts, dumbfounds me why they WANT first?
From Square One, Assessment; what do you want and why? And with that assessment of your skills, experience, knowledge, you pull out a list of the things you have to
eXcHaNgE. Or trade for, give to the market to get the dough. Get it?
Now, back at looking in the mirror, however you assess yourself...right after that, or right before, is the WANT. How much money? We'll cover other areas later, like sex, or romance, or adventure (could be all in one too!).
But it is easiest to start with is money. How much? I've spent thousands of hours on the phone with people, and this first question, how much money do you want to make? Is most often followed with an answer, like, I want to make a million dollars.
OK. Is that gross, net, after taxes? What will you be using it for? A series of questions, which often annoys those who paid me for my advice, gets us to the heart of their want, and as often as not, it is FREEDOM with some "certainty" of ongoing income.
And at that point, the sweet spot for most has been 10 k a month, after expenses and taxes. Which means they need between 15 and 22k a month in income or sales, or exchanges. But for many today, they will gladly accept a 10k a month in income and pay the expenses from that as they go along.
The 120k a year, will maybe put 75k in their pocket at the end of the year.
All numbers are based upon want. Maybe, twice that or ten times that amount. Whatever the figure, we must then do some math.
And here is where many falter. Because, they lack basic math skills. You wouldn't believe how many people I've worked with who took calculus, algebra, trig in college and can't balance their checkbooks.
And almost no one today online wanting to start IM, has any business math in their backgrounds. Which is why I suggest a book like 7 Steps to Freedom II by Ben Suarez or a marketing book, like from Bob Stone. One that covers the basics of profit, loss. Of cost of customer acquisition, life time value, overhead, legal, even banking fees.
Most do not come prepared for what they are facing, and good golly molly, last thing you want in this world is to have some success and have the IRS or worse still, the FDA, FTC show up at your house and take your things. Ask some of the popular gurus of today how it felt.
You want to make X amount of money, per year, and avg that per mo.
What do you offer, at what PRICE point, to reach those numbers. Sell a 10k back end coaching program, and you only need to extract one from your funnel (which we'll get into later). If your high ticket is only 100 bux, you need to move 100 of them.
It is my opinion, after 50 years. Most, don't spend enough time with assessment, math and planning in the early stages and by not taking the time to go this route, end up wasting years of time with a hit or miss activity.
Today, there are so many human TEMPLATES or if your prefer, role models, who have carved out their niche in the world and have left plenty of bread crumbs along their path to follow.
Not that I am personally irked, I'm as blissful as can be.
More in response to the Internet/Life/the world in general.
And starting with MONEY, or more specifically, how to make it.
My 30 year+ mantras on the subject are: A) You don't get paid for doing nothing B) Money is an exchange of value C) Where the head goes, the body follows.
Not a formula, maybe bullet points...but, in my opinion, all you need to know about it.
The thing is: most folk are not taught to ask the right questions. So, they linger, or procrastinate, or just spin their wheels not knowing where to start.
So, if you accept the premise that you aren't paid for doing nothing, it presents one the question...WHAT can I do, or should do, or what is the best or fastest, etc. etc.
And the go to answers everywhere are do what you love, follow your passion OR, sell what people are buying. Maybe a lot of nuances in between, depending on how you split those hairs.
For the next week, I'll give my Gordonisms, take em or leave em...and do what makes you happy.
I think all money making or business pursuits (two different things, start a biz or just make some dang money) should begin with an
ASSESSMENT. Today, the popular assessments are almost all affiliate programs, so do your due diligence when searching for one, I found almost all review sites are affiliate, and most often, will put high paying affiliate offers, like the Wealth Dynamics test up on top...although, almost all their suggestions have a pay off for them.
I suggest one start with Google and FREE Entrepreneur assessments and get sites like:
U.S. Chamber of Commerce
https://www.uschamber.com/co/grow/thrive/free-personality-tests-for-entrepreneurs
Of course, if you have some coins to spend, you can give Wealth Dynamics, and Myers-Briggs, and any other one.
Now, you can just take a piece of paper, look in the mirror and ask yourself what you like to do, what you are good at, and maybe watch a free video on Youtube and "borrow" the terms from some of the tests, like WD: the Mechanic, Creator, Supporter, etc., etc.
Or what your MB letters are: ISTJ OR ENTP. Some of these are pretty cheap.
Again, and I need to emphasize this, maybe asking friends and family what they think your strengths and weaknesses are, maybe just as benefical as shelling out bux for a test. Your library, I'm sure, has a copy of What Color is Your Parachute, full of all kinds of ways to help you to get a good
ASSESSMENT.
Look, if you are shy, awkard around people, stutter or are slow speaking, maybe selling vacuums door to door is not going to work for you, eh?
But here is one catch, I've had, and it has tripped me up more than once in my life.
Just because I am good at something, doesn't mean I should pursue it as a money/biz venture.
I think most of us are good at several things, so one caution is, just because you score high on a test, and you can be good at it, doesn't mean in any way it will satisfy you or even be profitable. So, that is my caution about following your passion and the money will follow.
Maybe it will. Maybe it won't.
Whether you pay to have an assessment done, use a do it yourself format, or just makes lists on paper or your computer/phone...it helps to begin from a point of KNOWING what you can do, what you don't really want to do and go from there.
Add in TIME, how much time will you spend on your $$ ventures? A part time gig or side hustle? A job replacement eventually? Building a big business?
Whatever your $$$ goals are, they are going to take X
amount of time.
My experience has been, most people OVERESTIMATE how much time they actually have to work on these things. And it creates hurdles hard to get over right out of the gate.
Be conservative with time estimates. Things (all things) tend to take a bit longer than we plan for, I don't know why that is true, but it is. With few exceptions.
I don't think making money is that hard, and this brings up; Where Your Head Goes, Your Body Follows. Everyday at forums, Facebook Groups, YouTube and social medias I see people wanting to get started with Internet Marketing or hankerin to start a business and there is no shortage of BAD advice out there. I try not to contribute too much to that pile of bile.
If making money is an exchange of value, then wouldn't a better first question be (as opposed to What can I do, what niche should I do, pick a way for me, etc.)...
instead of seeing all these scores and tens of thousands of people wanting to make money, I ask, what do you have to EXCHANGE?
And this is flabberghasting to many. What do you mean? I want to know how to make money, how to get started with affiliate, how do I sell on eBay, or how do I set up a store on Amazon or shopify.
It is always, I want, I need. I want to get, GET, GET. and for the last two decades and before, I have asked:
What do you have to give? To share? What knowledge, skill, experience do you bring to the money making buffet? And it is truly a dumbfounding question to so many, it in facts, dumbfounds me why they WANT first?
From Square One, Assessment; what do you want and why? And with that assessment of your skills, experience, knowledge, you pull out a list of the things you have to
eXcHaNgE. Or trade for, give to the market to get the dough. Get it?
Now, back at looking in the mirror, however you assess yourself...right after that, or right before, is the WANT. How much money? We'll cover other areas later, like sex, or romance, or adventure (could be all in one too!).
But it is easiest to start with is money. How much? I've spent thousands of hours on the phone with people, and this first question, how much money do you want to make? Is most often followed with an answer, like, I want to make a million dollars.
OK. Is that gross, net, after taxes? What will you be using it for? A series of questions, which often annoys those who paid me for my advice, gets us to the heart of their want, and as often as not, it is FREEDOM with some "certainty" of ongoing income.
And at that point, the sweet spot for most has been 10 k a month, after expenses and taxes. Which means they need between 15 and 22k a month in income or sales, or exchanges. But for many today, they will gladly accept a 10k a month in income and pay the expenses from that as they go along.
The 120k a year, will maybe put 75k in their pocket at the end of the year.
All numbers are based upon want. Maybe, twice that or ten times that amount. Whatever the figure, we must then do some math.
And here is where many falter. Because, they lack basic math skills. You wouldn't believe how many people I've worked with who took calculus, algebra, trig in college and can't balance their checkbooks.
And almost no one today online wanting to start IM, has any business math in their backgrounds. Which is why I suggest a book like 7 Steps to Freedom II by Ben Suarez or a marketing book, like from Bob Stone. One that covers the basics of profit, loss. Of cost of customer acquisition, life time value, overhead, legal, even banking fees.
Most do not come prepared for what they are facing, and good golly molly, last thing you want in this world is to have some success and have the IRS or worse still, the FDA, FTC show up at your house and take your things. Ask some of the popular gurus of today how it felt.
You want to make X amount of money, per year, and avg that per mo.
What do you offer, at what PRICE point, to reach those numbers. Sell a 10k back end coaching program, and you only need to extract one from your funnel (which we'll get into later). If your high ticket is only 100 bux, you need to move 100 of them.
It is my opinion, after 50 years. Most, don't spend enough time with assessment, math and planning in the early stages and by not taking the time to go this route, end up wasting years of time with a hit or miss activity.
Today, there are so many human TEMPLATES or if your prefer, role models, who have carved out their niche in the world and have left plenty of bread crumbs along their path to follow.
