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What Businesses Could Learn From the Occupy Wall Street Movement p.41
NOVEMBER 2011 Tim Ferris the 4-hour workweek
p.42 Tim Ferris
plus Gadgets interviews products Q and A
Interview p.12 Amber Mac
Successful Internet Marketing 4 Highly Recommended Tools to Use p.41
Available Available onon Amazon.com Amazone.com
http://www.Press--Release--Software.com WMM 3
[ NOVEMBER 2011 ]
Regular Columns 6
Editorâ&#x20AC;&#x2122;s Letter Welcome to the August edition.
WMM Inbox Got something to say? Tell us what you think.
Whatâ&#x20AC;&#x2122;s On Seminars, Expos and Summits, oh my!
WMM News Stuff you should know about.
WMM Success Story Amber Mac is the author of Power Friending. She recently took a few minutes to respond to a Q&A with contributing writer, Dena Haines.
Subscribe Subscribe for free to win an ipad.
WMM Marketplace Buy & Sell domains and websites.
WMM Gadgets and Toys You know you want them.
Featured Products & Contributors The people and products that helped make this edition.
Back Story Tim Ferris Interview: The 4-Hour Workweek Delegate and automate to create the lifestyle you desire and deserve
WMM Tools Books, Courses, Software etc.
Tim Ferris Interview: The 4-Hour Workweek
Advertise in WMM Be seen by 150,000+ potential customers.
Amber Mac is the author of Power Friending
Ask the Expert Iain MacDonald: CEO of Weedle.com, an online social utility focusing on promoting individual skills.
WMM Videos Watch useful videos on internet marketing etc. Q&A Your burning questions answered. WMM Useful Links All the links in one handy place.
[ NOVEMBER 2011 ]
I Quit My Job - Online Business Ideas By: Bruce Stewart
Branding Yourself Online With a Website By: J S Moore
Customer Service Jobs From Home Qualifications - What You Need to Work in Customer Service From Home
I Quit My Job - Online Business Ideas
By: Kyla Stevenson 20
Is Your Passion Profitable By: See Campbell
10 Effective Small Home Based Business ideas for startup small Business Owners By: Pinky McBanon
Internet Marketing Basics for Beginners: Everything you Need to start By: Tony Trevence Getting the most out of your Promotional Articles By: Stephanie Anderson
Branding Yourself Online With a Website
Successful Internet Marketing By: Sean R. Mize
Business you can run online as a Part time Job By: Darren Chow
What Businesses Could learn from the Occupy Wall Street Movement By: Michael Sumastre
wmm editors letter Welcome to the November edition of Website Marketing Magazine. I'd like to welcome our new contributors this month. We have some great contributions from Amber Mac, Sean Mize and Michael Sumastre and other innovators contributing some great articles that you should get a lot out of. Your strategy for the upcoming Christmas shiopping period should be firmly in place by now. We'll provide some useful advice and tools to help you maximise your returns this season. If you haven't had a chance to download out iPhone App, check it out now, as we have recently updated it. Get access to the latest issue of the magazine right from your iPhone or iPad. It's available in the app store, see our website for further details. I hope you enjoy this month's issue of the magazine, and as always please email me if you have any comments, contributions or feedback.
Business, more than any other occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight. -Henry Luce
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With all this talk of gloom and doom in the economy, have internet sales taken a hit? It's hard to tell unless you have a business. - Jessica. If you look at the statistics put out by http://www.census.gov. Online sales seem to be going as strong as ever. In some spaces they are increasing at a fast rate. In any case, you have to adapt to the latest trends to keep up and be successful. -Ed.
I want to share a membership siteâ&#x20AC;Ś
I want to start a membership site, but don't know where to start? How much should I invest in software and hosting? - Amy.
Using a free script like http://butterflyopensourcecode.com/g uest/ which is open source is a great start. You shouldn't be paying any more than a couple of hundred dollars a year for a good host. -Ed.
How exactly do I get traffic?
I've got a great product that I have developed. It's set up, and I have a payment processor in place, as well as a backend download area, marketing materials etc. The part I am confused with is how to get targeted traffic to my site so I can convert them to sales. Can you help? Magda. A great place to start for generating traffic is search engine optimization and article marketing for natural search engine traffic. Use https://adwords.googl e.com/select/Keyword ToolExternal to see which keywords in your niche are getting all the traffic. Then write some articles or outsource it and submit them to the article directories. -Ed.
>>Email Us: editor@WebsiteMarketingMagazine.com
Did you know: Who coined the phrase 'World Wide Web'? Tim Berners-Lee in 1990. He's also considered by most people as the person who started the whole thing rolling.
wmm what’s on BlogWorld &
New Media Expo
CanadaOnTop.com Internet Marketing Seminar 2011
Thursday November 10, 2011 at 08:00AM PST http://events.linkedin.com/CanadaOnTop-com-InternetMarketing/pub/692885
NOV Internet Marketing Workshop Ho Chi Minh City >
Tuesday November 01, 2011 at 08:30AM PDT http://events.linkedin.com/InternetMarketing-Workshop-Ho-ChiMinh/pub/724909
what’s on OCT
First Friday: HubSpot presents Blogging for Cape Cod Businesses
First Friday Breakfast November 4, 2011 7:30 - 9:00 AM http://www.cctechcouncil.org/2011/05/nov-4first-friday/
Date: November 3-5, 2011. Venue: Los Angeles Convention Center
Get ready for BlogWorld & New Media Expo 2011, The first and only industrywide tradeshow, conference, and media event dedicated to promoting the dynamic industry of blogging and new media. In addition to the only industry-wide exhibition, BlogWorld features the largest blogging conference in the world including more than 50 seminars, panel discussions and keynotes from iconic personalities on the leading-edge of online technology and internet-savvy business. If you are currently blogging, vlogging, podcasting, producing other forms of new media content, entering the new media industry, or just want to know what the blogosphere is all about, then you need to be at the most comprehensive blogging convention-BlogWorld & New Media Expo.
Get more customers, Leverage the internet, Monetize Social Media, and Growth Your Business
Quotable: The Internet is the world's largest library. It's just that all the books are on the floor. ~John Allen Paulos
wmm news U.S. Mobile Social Media Audience Up 37 Percent in 2011 U.S. mobile social media usage rose by 37 percent in the past year, with 72.2 million Americans accessing social networking sites or blogs via mobile device in August 2011, according to research by comScore, Inc. Almost 40 million U.S. mobile users – over half of the estimated U.S. mobile social media audience – visit social media sites via mobile each day, reports the research firm. comScore’s research also shows that, right now, more mobile users access social media sites via their mobile web browser than via a social networking app (42.3 million compared with 38.5 million).
9 Internet Marketing Statistics from the Business World We’re all focused on the non-profit space, but some times it’s good to take a look at how the internet is being used on a broader scale. It helps give us perspective and challenges our thinking which leads to potentially making decisions differently. So here’s a few recent stats for you to chew on … 1. 2. 3.
78% of Internet users conduct product research online. 78% of business people use their mobile device to check email. 40% of US smartphone owners compare prices on their mobile device while instore, shopping for an item. 91% of email users have unsubscribed from a company email they previously opted-in to. 84% of 25-34 year-olds have left a favorite website because of intrusive or irrelevant advertising. 57% of businesses have acquired a customer through their company blog. 67% of B2B companies and 41% of B2C companies have acquired a customer through Facebook. The number of marketers who say Facebook is “critical” or “important” to their business has increased 83% in just 2 years. Companies that blog get 55% more web traffic.
The Internet is just a world passing around notes in a classroom. ~Jon Stewart
Feature Article .
I Quit My Job Online Business Ideas By Bruce Stewart You must have a plan to quit your 9-5 Job Are you are thinking about becoming an Online Business Guru. If this is you then there is a plan that should be followed. Leaving your regular day job and plunging yourself into the online business world can be a frightening experience for new comers. The best approach is to not quit your job straight away and burn all of your bridges. Look after all of the relationships, both business and personal that you have built up over the past years. These can become one of your best assets while moving forward. Some of these people could end up becoming a valuable of your team in the near future. Starting of your online business while you still have a permanent job/income is by far the safest strategy. This way also keeps your stress level down and this in turn has a far better outcome with your decision making. When you approach any type of business venture with the sole mindset of having to make it work and make money the decisions you make will most likely be incorrect. You will have to choose the level of profit that you need for your particular circumstances from your online business before you can leave your fulltime position.
2. Remember in this world. We only make money when we sell something to real customers. Selling to friends and relations do not count, it is the people that you sell to that you don't know
product/service that is reusable on an ongoing basis is the ultimate prize. This is the goal that you should be planning and heading towards. We classify a customer as the one-off purchaser and a client as a ongoing
1. The Product or Service. You will have plenty ideas of what you want to sell onto a market. Most of these will not be profitable but you have to test them out. Make sure that you enter a market that already exists and has a good deal of completion in it. This is a proven market do not try and invent a new product for a new market this will untimely end up as a failure. A plan has to be in place that covers all production costs, overheads, distribution channels factored in. This determines the selling price of your product/service.
funds to back up your new venture. If you are buying things for your dream out of your grocery money then you are irresponsible to yourself and are not good candidate to be successful with an online business. This way is recognized as an outright gambling approach to business which is fraught with danger. Setting up a business has a calculated gamble risk element which is okay.
that purchases on an ongoing basis. 6. If you are to leave your fulltime
3. To be profitable in the longterm. It is your responsibility to build
I Quit My Job
5. Funds. Make sure you have sufficient
up a data base of clients that are repeat buyers. For an online business this can be easily managed by a autoresponder service that collects and records the names of buyers so you are able to build up a long term relationship with these people. These clients end up on a data base we call them subscribers. With this subscriber base we will be able to send them out news snippets, up in coming offers etc within our online business.
job to pursuer your online dream then make sure you have enough funds stashed away to cover you for at least 12 months if you were to not make a profit from your online adventure.
wmm success story Amber Mac is the author of Power Friending. She recently took a few minutes to respond to a Q&A with contributing writer, Dena Haines. Success Story Name:Amber Mac
1. Who is this book for? The book is for anyone, either a business or individual, who is interested in social but needs help to get started. If I had to peg a more specific audience, I would say it is for marketing managers and associates. 2. What motivated you to write Power Friending? When I was speaking to a group of bankers, a woman in the audience asked me how the Internet is changing the definition of a friend, and how it will affect businesses. For me, a light-bulb went off in terms of realizing that the web had definitely affected how we form relationships and the business world needed help understanding this. 3. Why should someone buy this book? What benefits will they gain from reading it? Someone should buy this book to get a social media presence or campaign up and running. It's a quick and informative read, and provides all the resources and strategies needed to succeed in the online space. 4. Many people feel that social media is too complex to master. What advice would you give them? I wrote an entire chapter in the book about how people are afraid of technology. I urge individuals in the social media space to focus on how to interact, versus getting bogged down with the tools.
Quotable: The Internet is becoming the town square for the global village of tomorrow. ~Bill Gates
set aside certain times in the day to manage social media conversations. A half hour in the morning and a half hour later in the day can work out well, so you can engage on a regular basis.
5. Which tools do you recommend for businesses just getting started?
For most businesses you can use five tools to get your social media campaign up and running. I'd recommend Google Alerts to track conversations, HootSuite to measure traffic, and Twitter, Facebook, and YouTube or push content and build community.
10. What is the worst mistake a business can make when using social media?
6. What percentage of your success can be attributed to the skills you teach in “Power Friending”?
• • •
I think that much of my success is due to my networking strengths online. There is not a day that goes by that I don't meet an interesting new person on the web.
11. When communicating through social media, what do followers or friends respond to best?
7. Social media can be addictive. How can businesses keep it from taking over the workday?
When communicating through social media followers or friends respond best to a balance between pitching products or services and personal information. It's important that you don't simply broadcast what you do, but instead have conversations with people and provide them with valuable content. If you run a golf resort, for example, don't always try to sell packages, but instead give readers golf tips.
I often advice businesses to set aside certain times in the day to manage social media conversations. A half hour in the morning and a half hour later in the day can work out well, so you can engage on a regular basis. 8. Is there a favorite experience you have had personally using social media? When I first started using Twitter I had this A-HA moment. I was looking for a good hotel in the DC area and I asked my online friends for recommendations. Within 15 minutes I had dozens of great options and reviews, and I realized that this - not Google - was the future of how individuals decide where to spend their money. 9. What is the most powerful experience you have heard, in regard to success with social media? In the book I often refer to a blender company called Blendtec that show some YouTube videos of their CEO blending pieces of wood and other odd things to test the strength of their products. Within a few weeks these videos went viral. The investment was just a few hundred dollars but the company has reported that sales spiked 500% thanks to all the exposure the "Will it blend" videos got online and offline.
The biggest mistakes businesses make with social media is that: they aren't authentic they aren't original, and they aren't consistent.
12. How do you manage your accounts? I use HootSuite to manage all my accounts. It's a free tool that lets you update multiple social media sites at once, and you can even schedule messages. Most importantly, you can use this web service to track your traffic and success. 13. What is up next for you? As for what's next for me, I do a lot of speaking about social media and have a business year ahead. I would like to write another book down the road, but for now I'm focusing on getting Power Friending in the hands of everyone who needs it.
Feature Article .
Branding Yourself Online With a Website By: J S Moore
If you are going to promote yourself and your company or another company online, you will really need a website. A website doesn't have to be expensive and it is easy to build one or more if need be. As you build it you can set it up with the specifics you want to promote your company or product your way. Driving traffic to your website will be the name of the game to create the exposure you are looking for. Branding yourself online and establishing a solid reputation is what a website of your own will help you do. As your presence becomes more and more established, you will learn what works the best as far as the type of advertising you need to do. There will be plenty of advertising options to choose from for promoting your website. You will want to do a certain amount of research to find the keywords that will serve you best as far as attracting people to your website. You will also want to provide extra content and valuable information that will be practical for people to use. You will also find that there will be a great satisfaction in having your own website and making it fit your own personality. I honestly think that is the most important part to marketing online or anywhere else for that matter.
When you provide value to people and have honesty and integrity on your website, you stand a good chance of building a lasting presence. Seeking some advice from those who have years of experience marketing online will also save quite a bit of time and money. In the end you will want to heed their advice, since it has worked, and then make your website fit your personality. Try to combine good solid advice with your own personality as you go. There are a number of web hosting services available. You will need to look around some and find the one that you are most comfortable with. You will find that web domain prices will not be expensive and there will be plenty of help getting set up if you have never built a website before. You will have plenty of options to choose from as far as templates, page layout, headers and how to convey the message you want your website to convey. You will want to just take your time and remember to have fun while you work on it. You'll see that it was a good investment of your time.
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wmm ask the expert Iain MacDonald is CEO of Weedle.com, an online social utility focusing on promoting individual skills. Iain recently took a few minutes to speak with me about this unique project. Interview by: Brian Haines
1. What is Weedle.com? Weedle is a website that enables you to connect with people who need your skill. You can create a free skill page where you can showcase any skill, expertise or talent that you have. Weedle enables you to easily promote your skill to your family, friends, social and professional contacts – so that they will be more likely to use you and to recommend you.Weedle is a social utility that helps you get found by people who need your skill. 2. What motivated you to start Weedle? I needed a tree cutter to chop down some trees in my yard. I spent a lot of time asking my friends and contacts if they knew one – but they didn’t. Then I searched on-line and although I found some people who said they could help me, I found myself dealing with strangers and I was unsure about the person’s credibility, trustworthiness and value for money. That’s when it struck me. Right now, there are millions of credible, trustworthy people out there with incredible skills and talent. At the same time, there are millions of people who need to find someone with these skills and talents, but currently, there is no large scale simple way of connecting people with skills to the people who need them. This is the problem that Weedle is solving. Weedle is a fundamentally better way of connecting people with skills to the people who need them, within a trusted environment.
Did you know:
"The idea is to have the kind of engaged environment that you might find on the blogger platforms, like Facebook and MySpace, but very specifically targeted at the tribe of motherhood,"she says.
ARPANET stands for 'Advanced Research Projects Agency Network' Came about in the arena of Sputnik and the cold war. The military needed a method of communicating and sharing all the information on computers for research and development. It would also be a handy communication system if all traditional ways were wiped out in
wmm ask the expert 4. Why should they join? What benefit might be expected? With Weedle you can create a Weedle skills page. On that page you can say who you are, what you do and then you can give examples of what you can do through things like video or presentations or pictures or audio or word documents. •
First of all, when someone searches for your skill on Google, they can find you. For example right now if you search “Digital Media Sales in San Francisco” or “Public Relations Expert in Palm Desert” or “Computer Lessons in Lansing” or “Tax Specialist San Francisco” a Weedle page comes back on Google number 1. The second benefit is that you can share your skills page (though e-mail, Twitter, Facebook, Linkedin etc) to your family to your friends and to your contacts - so they know a lot more about what skills you have. This means they are much more likely to use you themselves and also, it means they are much more likely to recommend you to their friends, family and contacts. The third benefit is that people can search for you on Weedle and when they do, they see connections that they have with you, such as maybe you grew up together, you went to the same university, maybe you are from the same hometown or even better, maybe you have a friend in common and they can see that their mutual friend thinks you’re great.
5. What is your niche in the social networking world? Why should someone signup with your network? Weedle integrates the social graph with the problem of searching for people with skills in order to find people with skills that you can trust.
6. Every network develops some unique terms and lingo and Weedle is no exception. Can you explain "tapping" and why it's good to "tap" and be "tapped"? When searching for someone with a particular skill on Weedle, we’ll highlight if any of the search results contain people who are recommended by people whose opinions your respect – i.e. people you are “tapped into”. In real life we “tap into” our friends, family and contacts to ask them who they recommend when we are searching for skilled professionals. We came up with phrase about a month ago and included it as part of our early Beta to get feedback. Feedback from our user community has thrown up some much better ways of describing this aspect of Weedle. We’re excited about a replacement which we’ll be launching in the coming weeks which we believe is much more intuitive. 7. The majority of Twitter users have never tweeted and have no followers (55% and 53%, respectively). In comparison, how active are most Weedle members? What is the current user base? What growth do you project over the next 12-24 months? We’ve been surprised by the level of activity on the platform to date, particularly as we have only recently launched. For example, we now have users from over 50 countries around the world and growing. We don’t disclose specific user numbers but so far, we’re ahead of plan. In terms of the future, we believe Weedle can create value for millions and millions of people all over the world. 8. What apps and networks do you currently integrate with? What plans are there in the future? Currently, we’re integrating in one form or another with Twitter, Facebook, Hotmail, Gmail, etc.
Check out Iain Mcdonald’s website:
Feature Article .
Customer Service Jobs From Home Qualifications - What You Need to Work in Customer Service From Home By: Kyla Stevenson
1. A QUIET WORKSPACE Working in customer service from home would require you to answer phone calls. If the place where you work is noisy, you would probably have a difficult time answering phone calls. A lot of people lose their jobs because of a noisy workspace. Your bedroom or a personal office would be a good place to handle your customer service calls. So make sure to maintain the quietness of your workspace. Talk to your family about minimizing noise and about how to communicate with you while you are on a call. 2. A FAIRLY FAST COMPUTER You do not need to save any images or files; just a fast computer and a fast internet connection would be advisable if you want to work from home. You do not need to buy the most hi tech computer, just a good running one is perfect for working from home. 3. PHONE LINE CAPABLE OF UNLIMITED LONG DISTANCE CALLING OR A SOFTWARE TO ANSWER AND CALL PEOPLE If you are going to use your phone, it is advisable to apply for an unlimited long distance phone line so you do not have to pay for long distance calls. Some companies require customer service jobs from home software where you can dial out for your phone conversation, so it would help you to ask them for one.
WMM 19 People in customer service jobs that work from home work by addressing different issues that callers report about the product. Some callers may be verbally abusive so you have to be extra strong when you work in customer service.
If you think you have what it takes to work from home, you need to have the following qualifications. These things are a must for anyone working at a customer service job from home. Make sure that you have these requirements so you can work from home:
4. FIND A NOISE CANCELLING HEADSET Though you can eliminate the noise from your end, your callers will never take the effort to remove the noises in their end. Make sure you have noise cancelling headset. A headset is a very important tool for customer service jobs from home so you better buy one! 5. LEARNING ABOUT YOUR CUSTOMERS Some jobs may require you to answer phone calls from all over the world; however, there are also ones that will ask you to answer calls from specific countries. Even if you live in LA, could be chances that you'll be working for customers from other countries. It would help to learn about the local time, weather, etc. about the customer's location. You can get these information on various sites online.
IS YOUR PASSION PROFITABLE? By See Campbell If you're like me, you love what you do. You get excited about helping others and watching them reach their goals. Your passion and excitement are evident to everyone. People are in love with your passion and the transformational results they receive from your work, yet you struggle with selling your wellness solutions. A "sleazy" feeling begins to creep in when it's time to sign-up a new potential client that's so uncomfortable that you actually find yourself talking them out of the sale. Unbelievable things begin to spew out of your mouth just so you can relieve yourself of the tension.
Does any of this sound familiar? One of the biggest reasons that I've discovered with my wellness practitioner clients is the disconnected feelings they have between their passion and gaining profits. As a wellness practitioner you are what I consider a "heartcentered" person. You have a great love for not only your work but for the people you help. And, who wants to ruin that incredible feeling with a sleazy sales pitch? But you are also doing a great disservice to those who really need the transformation that you provide when you don't make an offer. As a wellness practitioner you are an agent of change. Most of your work revolves around helping people make life-long changes and I'm sure it's also the number one issue that your clients have the most difficulty accomplishing. This problem of change is also your sales solution. You need to put pressure on the pain of where your clients currently are versus where they want to be? You need to get them to say they need you rather than you trying to sell them. And you do this by walking them safely through what I call the "valley of death." No one wants to admit that they have a problem. I would bet that even as you read this you're convincing yourself that you don't have a sales problem? Believe it or not, our brains are wired to respond to positive thoughts rather than negative. That's why it's so hard for us to admit our shortcomings. It's also the reason why many of us have a problem with saying NO. I also suspect this is why you may have heard "I need to think about it," from more than one person because you didn't get them to say no when they didn't offer up an immediate yes! You need to be willing to walk away when someone can't see the transformation that you offer.
To move your passion into profits you need to:
• Believe that the transformation that you offer is valuable • Get them to see the gap between where they are and where they want to be • Allow them to be uncomfortable with the truth • Get a no when you can't get a yes • Walk away from a "I'll think about it," because it's really a no Be well my friends as you help move people towards the truth of health and wellness with hope, love and laughter.
wmm gadgets & toys Logitech Wireless Boombox for the The actual specs are two 3 inch laser-tuned neodymium drivers for a rich mid range, two iPad half-inch neodymium tweeters, and four two-inch passive radiators for some serious deep bass.
Robot Tea Infuser The Robot Tea Infuser will get the job done for you though – made out of stainless steel so that it will not spoil the taste of the tea that you’re about to drink, all you need to do is pop open his chest compartment, load it up with your favorite loose leaf tea, close it, and pour some hot water inside – waiting for a few minutes for the delicious brew to infuse. He comes with adjustable arms that will enable him to hang freely around your mug – now how about that?
MicroVision SHOWWX+ HDMI is first RIM pico projector MicroVision SHOWWX+ HDMI is first RThe SHOWWX+ HDMI is said to be able to easily connect to a wide range of devices such as computers, mobile gizmos as well as other compatible pieces of consumer electronics, including RIM’s very own Blackberry Playbook of course, letting you display your presentation content at more than 100″ in diagonal image size on any type of surface – preferably one that is flat and white, as your eyes (as well as those of your viewers) will greatly appreciate such a background.IM pico projector
You want it Go on splurge – you deserve it. It’s time to spend your hard earned cash.
Soul Calibur V http://www.coolest-gadgets.com/ Arcade FightStick Soul This will be a Tournament Edition fighting game controller that will see action with the upcoming Soul Calibur V videogame, and according to Darren Richardson, the President and Chief Executive Officer of Mad Catz, â€œThe FightStick product category continues to perform well for us globally and the addition of the popular SOULCALIBUR franchise leverages both our brand and market leadership. Leveraging licenses on a global basis is part of our long term growth strategy to build our worldwide business.
In 1965 using a low speed dial-up telephone line, MIT
Did you know researcher Lawrence G. Roberts working with Thomas Merrill, connected the TX-2 computer in Massachusetts to the Q-32 in California. The phone lines weren't quite up to the task!
Feature Article .
10 Effective Small Home Based Business Ideas for Startup Small Business Owners By: Pinky Mcbanon is always desirable by many of us to establish a home-based business where we can work from the comfort of our home and can earn a handsome residual income. Therefore, we have listed here ten effective home based business ideas for starting up a home-based small business. Why do we say these "effective small home based business ideas"? Because these are all ideas which are tested and we actually made money through these ideas at one time or another. 1- Develop a Niche Affiliate Site A niche website is a small website that only focuses a single segment of market. There are hundreds of thousands of nichewebsites on the web. You can search for a segment of your interest or expertise and then build a catchy website with highquality content. Choose the products based on high turnover and handsome commissions for affiliate sales on your website. Promote your site for targeted traffic and then track results.
2 - Get paid by Online Paid Surveys Online paid surveys are a popular and easy way of generating a residual income stream for you and your family. Every global company is spending a lot on the market research and consumer behavior patterns. They hire survey firms to conduct market research for their existing and upcoming products and services and pay generously for views of the people. So it is easy to sort down reliable survey companies and filling out surveys to get a comfortable way of earning from home. 3 - Selling on Craigslist & eBay: Craigslist is an online garage sale site. It is free to place your sale offers on the craigslist, and sometimes you don't even need to be worried about shipping and packaging; people come to your home and pick up the items they bought from you. You can sell anything at craigslist or eBay from the old garage items to your small handmade unique items. You can find a clientele for almost anything on these sites and can earn money for you and your family. 4 - Design a website: If you are running your own website or blog, then you will be familiar with the WordPress and can learn how to create websites by using readily available WordPress themes and how to fix them. You can offer these services to other peoples by learning some customizations like changing color schemes, designing simple logs and banners, make small changes in the layout, etc. In this way, you can easily create and sell unique websites for others and can earn residual income. 5 - Earn Money as a Virtual Worker You can sign up websites like MicroWorkers.com to offer your services to the individuals and small businesses. MicroWorkers.com has different categories like content writing and social media. You can earn money by completing small tasks like writing a review of a product, posting comments to the blog posts and being fan of a Facebook page, etc.
6 - Earn through Ads on Your Website or Blog: If you are running a website or blog which has a reasonable amount of daily visitors, then you can earn through placing ads on your websites. Quality content and high-traffic site can give you a handsome stream of advertisement earnings through CPC and CPM campaigns. In these ads, you will be paid for click or impression of the ad placed on your website. You can place any good ad network like Google Adsense for ad campaigns can enjoy extra money through advertisements.
7 - Domain Name Speculation: Speculating and registering domain is a popular and easy way to earn money online. It involves creativity and thoughtfulness of the person. People find and register domain names, which appear valuable and wait for the time when someone approaches them to sell that domain name in the future. Such domains are parked on pages, which clearly indicate that these domains are for sale and also mention the contact details of the owner. Meanwhile, these owners place catchy advertisements on parking pages and earn advertisement money. 8 - Be a Freelancer: If you have some expertise in graphics design, programming, writing, marketing research, data entry or any other simple administrative work, then you can offer your services through freelancing websites like guru.com and elance.com. These sites offer a fantastic platform for the people who want to work online. Simply join any of the reputable freelancing website, offer your services in any given category and start earning without spending a penny from your own pocket. 9 - Offer Transcription Services: Transcription service is the procedure of creating text form of data from recorded voice and conference calls. If you have extra ordinary listening and writing skills, then you can offer your transcription services on the web and can earn a handsome amount based upon your work. 10 - CPA Marketing: Cost per Action marketing means getting paid when a specific action is performed through your referral link. The referring money can be from $1 to $25 depending upon the type of action performed. This is a quick way to generate cash by referring people. It is highly recommended to use trust worth websites after proper research.
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wmm tools > Books, Courses, Software, Tools and other Resources to help you succeed online. Drive Web traffic and take your business into the future In todays social Web marketplace, attention equals revenue. When you direct more attention online to your brand or business, you drive more longterm revenue. Regardless of who you are or how small your business is, you can have a huge impact using free Internet tools...provided you understand and correctly apply the latest techniques.
Inbound Marketing: Get Found Using Google, Social Media, and Blogs (New Rules Social Media Series) Traditional "outbound" marketing methods like cold-calling, email blasts, advertising, and direct mail are increasingly less effective. People are getting better at blocking these interruptions out using Caller ID, spam protection, TiVo, etc. People are now increasingly turning to Google, social media, and blogs to find products and services. Inbound Marketing helps you take advantage of this change by showing you how to get found by customers online.
Did you know:
Who coined the phrase 'information superhighway'?
Wikipedia says Nam June Paik coined the phrase "information
Digital Impact: The Two Secrets to Online Marketing Success Digital Impact answers the critical questions marketers have about connecting with and influencing consumers online. Written in an easy-to-read, approachable format, this helpful guide presents provocative content along with practical, commonsense methods that can be followed by any businessperson at companies of all sizes.
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Feature Article .
Internet Marketing Basics for Beginners: Everything You Need to Start By Tony Trevence
So you heard the buzz about the Internet and want in? Every day, there are many beginners or "newbies" who want to join the Internet marketing fray and make some good money. Can you really make money? Yes, if you know what you are doing. So it makes sense to do some research and read up before you spend all your time or money diving into this seemingly easy industry. In fact, Internet marketing has become very competitive and there are many potential pitfalls.
Here are the Internet marketing basics for beginners. If you are new to Internet marketing, you will gain a lot of insight from reading this. What is it? Traditional marketing encompasses many different aspects, and includes branding, awareness, loyalty, advertising, promotions, customer loyalty, differentiation, prospecting, sales, and more. It is similar in the online world, but with some differences. If you are experienced and successful at marketing in the physical world, it does not mean you will also succeed online using the same methods. But you can certainly apply the same principles in marketing into the online environment. In summary, Internet marketing is about increasing sales or awareness, by bringing targeted people or traffic to a site, using the most cost-effective channels. Why do it? Marketing is important for growing and sustaining business in the physical world. If you have a shop in a prime area, you can get away with little marketing because of your visibility. But on the Internet, there are billions of web pages or content in cyberspace that people would not otherwise chance upon, unless some marketing is done. So if you have a blog or website, it will be useless unless you market it. Many people choose to do Internet marketing because of the potential returns. Companies are also looking at it seriously because the Internet is an increasingly important channel to reach out to customers, partners, suppliers, investors, and potential employees worldwide. Online marketing is also typically more cost effective than traditional channels such as print, newspaper, television and radio. If you do it well, your online businesses can skyrocket in profitability because of the worldwide reach. And because it is such a competitive industry, you can make a lot of money from consulting or from Internet marketing projects if you can deliver results for others. How can I start? As a start, remember to create awareness of your website by including the web address in your emails, namecards, brochures and other collateral. Read more about Search Engine Optimization and Search Engine Marketing or Pay-Per-Click marketing. Do some research on viral marketing via social media. Remember to read up or ask experienced marketers before you spend any money in your endeavor.
wmm Q&A Sarah Prevette Interview Sarah Prevette is Founder/CEO of Sprouter.com, an online community specifically built for startup founders. Sarah recently took a few minutes to talk with me about her latest project.
1. What is Sprouter.com? Sprouter is a global community of startup founders coming together to collaborate and knowledge-share. 2. What motivated you to start Sprouter? As a young entrepreneur with my first company, Upinion, I struggled with common pitfalls of early stage start-ups. Without a support network to turn to, I was spending an inordinate amount of time trying to find people who could help me with various aspects of growing my business. I envisioned a platform that entrepreneurs could instantly tap into, for free, and get immediate advice and feedback on their company. 3. Who is Sprouter for? Sprouter is for entrepreneurs. It’s an instant support network for startup founders. 4. Why should they join? What benefit might be expected? -Stephen Colbert
Entrepreneurs should join Sprouter to get immediate answers to their most pressing startup questions and to connect with other founders around the world. Everyone in the Sprouter community shares similar challenges and has a willingness to knowledge-share and help each other. Whether you need an introduction, are looking for feedback or require help in crafting strategy; putting it out to the community is an easy way to get relevant, targeted and timely advice. 5. What is your niche in the social networking world? Why should someone signup with your network? Sprouter’s community is entirely comprised of start-up founders. Everyone on the site is a part of a pay it forward movement; answering the questions of other founders with the notion that their own questions will be answered by others. Sprouter differs from Twitter and Facebook for it’s targeted focus and specific relevancy to start-up founders. While other networks are primarily focused on social relationships, and people you already know, Sprouter is focused on growing business and building your connections with other innovators.
WMM 30 6. The majority of Twitter users have never tweeted and have no followers (55% and 53%, respectively). In comparison, how active are most Sprouter members? What is the current user base? What growth do you project over the next 12-24 months? Sprouter does not publicly share user information, but certainly the network follows similar trends as other large community platforms. There are varying levels of engagement across the membership and we have been fortunate to have had consistent growth since our inception. Sprouter’s successful growth has been based entirely on word-of-mouth and referrals from existing users. We’re continuing to roll out new features and services based on user feedback and look forward to increased visibility in the global start-up community. 7. Certain apps, such as HootSuite, are very popular because they manage a number of social networks. What apps do you currently integrate with? What plans are there in the future? I think it’s important to note that while HootSuite is a great tool to manage multiple social networks; it’s incredibly different from Sprouter which is actually a network itself. HootSuite does not have it’s own community; it’s a tool for users to effectively manage their Twitter and Facebook. Sprouter on the other hand, is it’s own community. Sprouter currently integrates with Facebook, Twitter, LinkedIn & Gmail. Sprouter members can find their contacts from other platforms and can share posts across multiple networks. We want to make it easy for our members to engage one another and will look to integrate with any relevant platforms that our community participates in. 8. With many traditional style businesses looking to social media as a means to market, how does a social network market itself? Sprouter has leveraged other social media platforms to engage with the start-up global community. With our Sprouter account on Facebook and our @Sprouter on Twitter, we share valuable start-up content and participate in the conversation happening around startups.
9. Most businesses feel overwhelmed, when looking at social media. How do you suggest that they get started? The first step to getting started in social media is to determine your goals. What are you trying to achieve and who are you trying to connect with? Spend the time to determine where your target audience is spending their time online and who the key influencers are in that community. Listen and learn before engaging. Look to provide value and participate in the conversation. Too many businesses see social media as a one way channel to broadcast their message instead of a the valuable two-way communication tool that it is. The inherent value in social media is the facilitation of dialogue. 10. Where do you see Sprouter going from here? We’re continuing to evolve Sprouter’s offerings. From our new mobile app, to our new Q&A where we’ve sourced some of the top experts to answer questions directly from our members, we’re excited to continue to offer even more value to the community. 11. What have you learned since starting in August 2009? In regards to both social networks and online business. The past several months have re-iterated the need to get feedback as early as possible. Online businesses are ongoing iterations and the best services evolve based on ongoing customer feedback. The most valuable tool a start-up founder has at their disposal is their existing customer base. Find ways to encourage your users to aid you in product development and new customer acquisition.
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Feature Article .
Getting the Most Out of Your Promotional Articles By Stephanie Anderson
If we don't know something, the Internet is the easiest way to find the info that we are looking for, in the form of an article, found on a reputable site. That is why one of the fastest growing marketing techniques is to create your business many articles in order to grow leads, sell and to continue to advance with the times. An article is a quick sell. It contains all of the necessary info that a person looks for. They might be searching for a product, service or place of interest. So how to get your articles viewed and your products viewed above the rest? Article directories provide that service that many trust and turn to for advice. That is why it is just as important to submit your articles to reputable websites to create links back to your website or blog or other media outlet. The 3 key benefits of using articles to promote your business online is to add leads, promotion and branding to your business. These key benefits are all very important if you want to be found and sought out on the web. The main reason to write is to inform the audience seeking out the information that you are providing, otherwise you will have failed at attaining the first three benefits. Getting an audience to read your articles and find your links and business info is the biggest challenge. That is why the articles need, and I must strongly emphasize this, need, to be quality and worthy of reading, attaining information and walking away with a strong grasp of the message that you are conveying.
Mentioning specific keywords that are placed in strategic areas within your article will also get you some attention on the search engines, and that is just the effect that we are looking for. Keep in mind that the goal is to attract others to read your article and take something away from it. It's purpose will serve you better if you get recognition for having a well written and well thought out article, compared to if you just throw together something that is words put together along with some keywords. Another point to mention is that article directories take articles that are geared towards preferred reading for their audience. Some article directories have guidelines that they adhere to and they look for stellar reading material. The other point to keep in mind is that some article directories do not want you to republish your article anywhere else. If you want exposure on that website, the chances are that you will be required to write specifically for that site. That could mean more exposure depending on that sites popularity and readability or you could
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Quotable: "Describing the Internet as the Network of Networks is like calling the Space Shuttle, a thing that flies." John Lester
wmm featured products Resell Rights Profits Have you ever wondered how those other online marketers pump out product after product week in - week out while you struggle to get your first development project off the ground? The simple answer is they leverage other people's time and resources to create the products for them! That's right, you may have heard of Resell Rights products - also known as PLR (private label rights), white label products and MRR.
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CheapestArticles.com We have the cheapest article packs on the internet. Our experienced english speaking writers will quickly and expertly craft quality articles that will help you promote your business online and increase the ranking of your web pages. We also offer article submission services, press release writing services & sales copy writing. One of our more popular packs is our Combo Article Writing and Submission services. Click 'Combo Packs' on the left menu.
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iPad2 Any iPad description you read will make note of the new slimmer size for the iPad 2, and it's one of the bigger features that Apple are promoting. The differences are very small, though anything that improves portability is useful for a device like this. If you're used to the old iPad, you'll probably notice the changes.
wmm contributors Bruce Stewart
Bruce Stewart loves spending his time educating himself with all things about the online marketing world. As my business is online I get to be able to work long hours
J S Moore I am working my way into article marketing and thoroughly enjoying it. I enjoy doing my research on topics and learning as I go and writing in my own words. My goal is to provide information that will be helpful to people online and sometimes offline.
Kyla Stevenson Kyla is the developer and founder behind many of Stevenson concepts and programs in health and wellness.
Dee Campbell Ms. Campbell is an author and speaks across the country on maternal and child health, medical advocacy, special educational rights and parenting a child with special needs.
Pinky Mcbanon Ms. Pinky is a Systems Engineer, a Computer Support Specialist, Technical Writer and Researcher.
wmm contributors Tony Trevence
Tony Trevence is an owner of several online businesses. He likes sharing honest information, strategies and experiences with fellow Internet marketers.
Stephanie Anderson Stephanie is a freelance writer and owner and creator of Prestige Writing Services
Sean Mize is an expert at using article marketing to drive highly targeted traffic to websites. He initially developed and mastered many of the advanced article marketing tactics that are currently being used by hundreds if not thousands of marketers today
Darren Chow Darren Chow is the founder of a successful Article Distribution Service and has been marketing online since 2001.
Michael Sumastre Very competent writer with more than 6 years professional experience in blogging, copywriting, content, SEO, dissertation, technical, and theses writing. Has written more than a thousand webpage content articles in past projects. Proficient in technical writing using the Harvard and APA citation styles. Has published two United Kingdom-level dissertation and theses.
Feature Article .
Successful Internet Marketing - 4 Highly Recommended Tools to Use By Sean R Mize
There are a lot of things that you need to take into consideration when doing internet marketing and one of the most important is the tools that you're going to use. You need to choose those that are extremely effective, cost-efficient, and those that can help you reach out your target audience. Below is the list of tools that I recommend especially if you're into information marketing business: Article marketing. For me, there's no other internet marketing tool that is more cost-efficient and more effective than article marketing. In fact, if you care to do the process right, you'll get everything you need to succeed in the online arena. These include better page ranking, an expert status in your field, more traffic, and stronger online presence. All you need to do is to write as many high quality articles as possible and distribute them to reputable directories. Remember, consistency is one crucial element here so ensure that you write and distribute at least 2 articles per day. Social media marketing. Social networking sites are undoubtedly some of the most visited sites these days. Research suggests that they attract billions of users from across the globe. Just imagine, if you can get just 1% of that volume, you can be assured that you'll get the number of sales that you're looking for. Create your own page on these sites and use it to connect to those people who are most likely to get interested on what you sell. Post updates every now and then, publish useful articles, and announce your promotions. The key here is mingling with your prospects first before you sell them anything. Earn their trust by helping them with their problems. Then, you can sell your products by presenting them as the most effective solutions.
Search engine marketing. Search engines are some of the things that you cannot afford to ignore when running an online business. You need to get them to assign the best ranking to your site to make it more visible to your prospects. You can get a spot on the first page search result if you properly optimize your web content, if you do offpage optimization, if you improve the number of your links, and if you use banner and PPC ads. Email marketing. There's no easier way to connect to your prospects than through email because in this generation, everybody has at least one active email address. What you can do is find ways on how to drive traffic to your website. Then, before your visitors leave, convince them to sign up to your marketing list. Ensure to promise them that you're not going to spam them and that you're not going to share their info to other third party. Then, send them amazing newsletters every week. Your goal here is to showcase your expertise in your niche while at the same time, helping your prospects and earning their trust. Give them compelling reasons to buy each time you send them email. For example, you can give them amazing discount but for limited time only.
Businesses You Can Run Online As a Part Time Job By Darren Chow Have you always wanted to run your own business, but simply felt overmatched? You should not be intimidated by the entrepreneurial spirit. Instead you should be looking into the ideas that are the simplest to get off the ground. Before you adopt the sinking ship mentality that so many others working in corporate America are, it's time to have a little faith in yourself. You may be surprised at just how capable you are as a business owner. Businesses don't have to have brick and mortar facilities. They don't have to employee a lot of people, or any at all beyond yourself. You don't have to be great with numbers and taxes to escape the corporate lifestyle and claim a life that is more independent and easier to manage and control. Here are some great ideas for businesses you can run online. Many of these can be started as part time jobs in conjunction with your everyday job. However, you may find that the better you get at it, the less you need that day job.
1) Online copywriter
3) Web design
While you do need to "prove" yourself somewhat in this marketplace, it's easier than you might think. All you need are two or three strong samples, which you can do by simply asking around to non-profits and forprofits. Offer to do work on spec for a sales promotion. Tell them if they're happy with the product, you work for a certain rate of pay. If they're not, they don't have to pay you a dime. Once you get a couple of satisfied clients, it's easy to get more paying work from them or, even better, referrals!
More people are realizing the value of having a website, and if you have good web design skills and a comfortability with major design software programs, then you can have a wide base of customers to choose from, both online and locally.
2) SEO copywriter Online marketing pros pay big money for basic, generalized articles on a given topic. Each one is between 300 and 600 words long and can pay anywhere from $5 to $15 apiece. Accomplished writers are able to write 3-6 per hour for a handsome hourly rate of pay.
4) Ebook cover design As the publishing industry continues to change, more books are being published than ever before. Traditional publishers are unable to hold on to staff and are using more freelancers, as are independent authors. If you are good at design and love to create, then this can be a highly lucrative service. There are many other options you'll want to explore based on your knowledge and experience. Don't sink with the ship. Start a part time business now, and it could save you from a corporate wreckage sometime
Feature Article .
What Businesses Could Learn From the Occupy Wall Street Movement By Michael Sumastre
Occupy Wall Street (OWS), a series of demonstration that are ongoing in New York City, has been making Wall Street the headlines for weeks. Calling itself a "leaderless resistance movement" among people of all races, genders and political principles, OWS is mainly built around anti-corruption sentiments, and is protesting against corporate greed, economic and social inequality, and corporate influence. Amid criticisms for making imprecise and informal demands, OWS is relaying its message by the catchphrase "We Are The 99% that will no longer tolerate the greed and corruption of the 1%." Spearheaded by Adbusters, a Canadian activist group, OWS touts the empowerment of real people to make real change. It insists on a world that needs neither Wall Street nor politicians for a better society. Upholding non-violence, OWS uses the Arab Spring strategies to ensure that all participants are safe. From its starting point in New York City, Occupy Wall Street demonstrations are spreading to 70 cities and at least 600 communities in the U.S. On the global front, OWS-modeled demonstrations are also simultaneously being held in more than 900 cities - all keeping business leaders speculating, deliberating and trying to find the right way to respond. In a benefit-disadvantage analysis of the situation, The Harvard Business Review puts emphasis on actuality of the high percentage of CEO pay vis-Ă vis its employees' salary, which is a telling sign of persistent economic inequality. It is highlighting the need for businesses to reevaluate their business and software strategies, and include a determination of their existing compensation models.
According to The Harvard Business Review, protests occurring outside the Wall Street offices can be an opportunity to reevaluate their management of anti-business sentiments, while responding to protesters on an equal footing as is the case with public discourse. Identifying opportunities for business development, Business Finance Store is noting that businesses can learn from the way OWS is successfully expanding itself on a global scale, which it practically did with heavy reliance on social media. Businesses are able to leverage social media as no-cost and low-cost tools for their own global expansion, with international business marketing strategies factored in. Ordinary people participating on the Occupy Wall Street movement are now getting comfortable with modern technologies such as video conferencing on computers, webinars and interactive programs of the same kind - in order to reach out and share common knowledge. Small and medium business enterprises, as well as the world's biggest corporations, can learn a lesson or two from that.
No More Selling Scripts?
The rapid increase in the number of OWS 5 Ways to Be Yourself Again protesters is becoming more and more phenomenal. This may be attributed to the kinds By Ari Galper, Creator of Unlock The GameÂŽ of information they are able share through the modern technologies, as well as powerful methods and tools they employ to achieve their own vision and version of success.
wmm back story Tim Ferris Interview - The 4-Hour Workweek Delegate and automate to create the lifestyle you desire and deserve
Scott Allen: Hi! This is Scott Allen, About.com Entrepreneurs Guide and I am here with Tim Ferriss, author of The 4-Hour Workweek (Compare Prices). One of the things that I talk a lot about on About.com is how to try to find that balance as an entrepreneur, because there have been so many studies done on this that show that the typical entrepreneurs are working 70 and 80 hours a week. The traditional take on this is something like, “Hey, that’s fine. We all know it’s a trade-off because we are investing that time, hopefully for the pay back in the future, or that it’s a trade-off for flexibility.” You may have to work 80 hours a week and work late into the night, but you get to take off in the middle of the day to do stuff with your kids. You don’t have to answer to anybody or file for it a month in advance if you want to take vacation. We would all love to get to the point of working a 4-hour workweek and a lot of us would like to just get to the point of working a 40-hour workweek, and making the living we'd like to make and having the rest of it available. But Tim has lived it, is living it and is sharing the good word in his book and starting to get some other media coverage here too. In the interest of getting my readers (and myself) closer to that 4-hour workweek, I’m here talking to Tim Ferriss. Tim, welcome.
WMM 43 Tim Ferriss: Thank you very much for having me. Scott: Tim, why don’t you give a little bit of background about your entrepreneurial history? Tim: I graduated from undergraduate on the East Coast in 2000. A friend of mine sold his company, BlueMountain.com, for close to $480 million, which made it seem like a very good idea to move to Silicon Valley, which I promptly did, and I initially worked putting in 80-hour weeks at a storage and networking company. So I worked high-tech in technical sales, and in a very exciting entrepreneurial environment, but it was exactly what I came to know afterwards as an overwork ethic. Due to improper management it became a results-by-volume type of environment. So I was checking Outlook, hitting Send/Receive 100-200 times per day and I even slept under my cubicle on a number of occasions. I spent Thanksgiving on orders from above, sending email to prospects and it was a bleak picture. But I was excited to do it at the time, but very quickly realized that it was entirely unsustainable. The company itself ended up imploding in 2001 and before that I thought that I could do a better job of creating and managing a company and certainly wanted the freedom that every entrepreneur has in mind, when they initially take that first step towards establishing themselves as a business owner. And I ended up moving into pharmaceutical design, so I had some background that helped me gather biochemists to look at designing and licensing different drug designs to big pharma. That ended up being extremely difficult to do and capital intensive. So by a number of different circumstances, I ended up becoming involved in sports nutrition design and manufacturing. And that company ended up doing extremely well, where as I was the second lowest paid employee at the start-up, which I found out when an Excel spreadsheet was accidentally forwarded to the entire office -- the only person paid lower than I was, was a receptionist, putting in a 20 hours a week, and I was putting in 80 hours. I was making twice per month, what I had been making for a year, but I was actually more miserable, because I had less time and was at that point I realized: 1) most business models are entirely unscalable, and 2) most entrepreneurs are business managers and not business owners, and 3) that income has really no practical value if you don’t have control and possess time. So in mid-2004, I left the country and spent 15 months traveling over more than 20 countries, conducting experiments in automation and outsourcing. And I was able to push both to some very curious extremes. I got to where I was checking email once every 14 days, instead of 100 times per day, and I was still receiving a volume of 1500-2000 emails a week. And surprisingly enough, simultaneously, the profit for my company went up by 30%. So, I really took a step back during that period. I interviewed people who were finding their own life hacks and realized that if you recognize that there isn’t just one currency -- income -- that, in a digital world, you have three currencies: you have time, income and mobility in descending order. And if you really master the time and mobility components, it’s possible to live like a $500,000 investment banker of ten years ago, worth $50,000 today. And that brings us to what I call lifestyle design. So I propose that rather than long-haul career planning, which someone like Randy Komisar who's a general partner at Kleiner Perkins venture capital – he would call that "the deferred life plan". So rather than trying to accumulate enough money so you can stop doing whatever you are doing for retirement, which is inherently flawed in a lot of ways.
How you redistribute time in life, throughout life in your day-to-day existence, really represents your ideal lifestyle? And that experience, I guest lecture at Princeton was here and the students recommended that I put my experience in a book and that is how “4-hour workweek” came to be. And The 4-Hour Workweek, the title itself, is really not an exaggeration. It’s possible especially as an entrepreneur to get to the point where you spend two to four hours a week on a business that is, for all intensive purposes, entirely automated. Scott: One of my personal entrepreneurial heroes has always been Richard Branson. Is he touching on some of that? One of the big things with him is not only lifestyle design, but turning it into a marketing thing to go and do the things that you love to do like speed across the English Channel, that sort of thing. And I know that he is also well-known for the fact that he takes a month out of every year and spends it on his private island in the Caribbean. Tim: Branson is one of my idols, actually. I read his book, Losing Your Virginity (Compare Prices), when I was still at school. It had a tremendous effect on me. Another hero of mine from the life-style design aspect and also business intelligence is Ricardo Semler, a Brazilian, who runs a company called Semco. He has broken every possible rule you can imagine and implemented flextime and all sorts of very interesting policies in his own company and it has just been one of the huge success stories on the planet from a growth standpoint and also employee retention. Branson illustrates a very important principle, which really in a nutshell explains why retirement is a flawed concept. When you subtract work in the office, it leaves a void. It doesn’t automatically create life. I know, for example, one entrepreneur, very successful, in his mid-60s, who acquired more than 120 companies in his career, and work was his life. He had no alternative activities and when he had quadruple bypass surgery and had to retire for health purposes, he only lasted a week, and then was so depressed that he had to start another company, because had nothing to fill that void. Branson is a good example to someone who proactively designs a life. He seeks out the creation of these oncein-a-lifetime experiences over and over again and the latter portion of the book, called "Liberation", really talks about that. Once you create an abundance of time, how do you use it? It's not self-evident, as some people would think. Scott: So it doesn’t necessarily have to be that you go spend the other 76 hours a week lounging on the beach in Mexico? If your passion is business and that’s what excites you and you want to go start another business or explore investing or work mentoring other entrepreneurs or serving on Boards of Directors, or those sort of things, then by all means feel free to do that, if that is what inspires you. Right? Tim: Absolutely. One thing I've had to stress on when I’m talking to people -- because I do some odd things -- I travel to Argentina and spend six months there, competing in tango, or go to Japan to practice cage fighting – is that the intent of the book isn’t to teach people how to be Tim Ferriss. It’s to teach people how to use very specific tactics to create time and mobility. And once you have these two ingredients, then you can use them however you decide, whether that’s spending time with your family in your own home, or starting another business, or in my case, writing a book
WMM 45 And the objective is really to automate income, so that your decisions are not financially driven, so that you can take a step back and really look at the larger picture of life and make decisions and invest your most nonrenewable resource -- time -- in the most fulfilling way possible.Scott: That sounds like a great goal. I know that for a lot of people, it’s not even the ability to have it not be a financial decision, but just to be able to do what’s truly a good financial decision in the long-term, instead of having to be short-term cash-flow driven, like so many entrepreneurs are. I've found that the number one issue for entrepreneurs or entrepreneurial companies ends up being cash flow. And this is where a lot of good companies go down. They get the product built, they get commitments, they get letters of intent, they get even contracts and receivables, but they end up in a cash flow crunch because they have that gap between the funding they have and the deals that they've got and having to deliver and execute everything in between in that gap. And that ends up being a problem for so many companies and why they end up needing mezzanine financing and end up needing bridge loans and all kinds of other stuff is because they end up having to chase the cash flow. Tim: Right. Before I started focusing on lifestyle design and everything that it entails, from an entrepreneurial standpoint, what I was initially invited to speak at Princeton was ‘creative cash flow’ and how to, with minimal or no outside financing, achieve profitability. One of the most valuable exercises an entrepreneur can perform is to take a step back, not looking at what’s popular, not consider what everyone is doing or what people are expected to do, and really ask what rules you need to set for your own business, from a process standpoint and a cash flow standpoint, so that it can be successful. So in my particular case, I started my company with less than $10,000, and now it's distributed in fifteen countries. That didn’t happen overnight, but I never required outside financing and the reason I was able to do that is, I recognized that certain rules like offering every large customer net 30, net 60, net 120 -- it was expected, but if you set a rule, which in my case was prepayment for all orders, if you are able to create the demand for that product, people would follow your rules. And there is a lot of room to improvise. Just because business as usual can put you in a very awkward cash flow position, where you need to make short-term decisions and always feel like you are shoveling coal into the furnace without any breaks doesn’t mean that you can’t reset the rules in your favor. There is a lot of room for flexibility. I was offered a distribution deal with one of the largest sports nutrition distributors in the country, in the world in fact, and I turned it down because I was able, for example, to control distribution to a few, very powerful and very well-distributed companies, and by limiting my distribution, I was able to prevent price degradation. So I didn’t have multiple rogue discounters driving the profit margins down for a product, which would necessitate that I create new products. I've had one main product for six years and I’ve been able to sustain the margin and maintain competitive advantage with primarily intelligent direct marketing and very heavy analytics. But, it’s very important to set the rules in your favor. You do not have to follow what everyone else is doing. Scott: When we look at the popular authors talking about setting up lifestyle entrepreneurship, like Robert Kiyosaki, Robert Allen and Mark Victor Hansen, they have models like “the Four Mountains of Wealth”, and try to move people into these particular passive income models. But I get the impression from our conversation and from what I’ve read of your stuff that that’s not the case here. Is this something that can be done with any business or are there certain kinds of businesses that it lends itself better to and others that it will never work with?
Tim: There definitely are. Now the principles in the book can be applied to any business and at the very least, you will be able to eliminate unpaid overtime, meaning work during evenings, weekend, etc. The ability for someone to get a 4-hour workweek requires some difficult and emotional decisions and doing what is unpopular. The extent to which you can do that depends on a number of factors. But for example, it’s infinitely easier to create, in my opinion, a scalable business model that requires minimal management, if you have a product versus a service. Service businesses are more challenging to scale because it involves management and more personnel. And there is a host of variables that come along with that. They require actual human supervision and that is a very taxing resource. So, can it be done? It certainly can and you can do it all in a franchise model and there are multiple ways that you can work on your business, instead of in your business, as Michael Gerber would put it. But products are much better suited. If you are a one-person operation and the choice is between, let’s say, consulting where you are limited to a per-hour model, which means you have to work more to make more, or capitalizing on that expertise and somehow monetizing it in product form, I would recommend investing the additional time up-front to pursue the latter. But there are multiple ways to do it. One other point I want to make is that the extent to which you have to scale your business is entirely dependent, in this book, on what’s called the TMI, target monthly income. So if you want to have a Lamborghini Gallardo race car, you want to go to Fiji, or you want to take two trips throughout the domestic U.S. per month and you define what you want to do, what you want to have and then calculate the average monthly cost, that’s your TMI and it’s surprisingly low. For example, if you’ve always wanted to take a long trip to Thailand and stay there for a month, you can do that for less than $1500. In my case, for example, I went to Panama and lived for a week on a Smithsonian research island with fishermen who took me on the boat, caught all my food, cooked it for me, took me to the best dive spots in Panama, and it cost me $250. When you actually create time, the question of what to do becomes much more interesting and much more important than what you have and it’s surprisingly less expensive than people realize. But most people never calculated it. I have a good friend, my roommate at Princeton, who works for an investment bank in New York City and he went to business school also in New York City and told me he decided to return to investment banking after his school. I asked him why because he had told me that he hated working in this particular investment bank. And his answer was, “Well, I hate coming home at midnight. It sucks, it’s true. But if I worked for a few additional years, I could become Managing Director and pull in three to ten million a year.” And in a world where you have been making, you could easily make $200,000 for a reasonable 40-hour workweek, I asked him, “What the hell are you going to do with three million dollars a year?” He thought about it for a minute and he said, “I would take a long trip to Thailand
WMM 47 And this is symptomatic of this epidemic of the deferred life plan. When you really sit down and calculate it, there is no reason to put these things off. And there is every reason not to. It also makes it very clear that some fantasies are only interesting for three to seven days. And so sitting on a beach in the Caribbean, for example, gets boring very quickly. It’s nice. Once you recover, though, it’s extremely boring and you need an alternate activity. And if that’s only interesting for a few days and your retirement life for last thirty years, that leaves a lot of thinking to be done and I encourage people to do that now as opposed to when they retire. Scott: Right. I’d like to refer to a couple of articles on my website that are particularly relevant to this. One of them that I want to talk about on passive income. It also talks about leveraged income which is how people can do this who want to get into services. Leveraged income is the ability to provide the service on a mass scale, even though the effort it takes doesn’t scale according to the number of people you are delivering it to. So, for example, if you are offering teleclasses, or web seminars, or something like that, there is not really any significantly higher time effort once you have the technology infrastructure in place to give a web seminar to 1,000 people than 100. And so, if you are giving your web seminar to 1,000 people at $20 each, as opposed to 20 people at $25-$30 each, then you start talking about being able to make that kind of large amount of money. Professional speakers have the same kind of thing. If you work your way up in the speaking business, you can get to the point that you are earning $5,000-$10,000 per speaking engagement. Do one of those a month and that’s a decent living. And basically all you’re doing is that plus whatever it takes you to keep booking one or two a month. Another example is consultants who find a niche specialty or attorneys are a perfect example too. There are attorneys who work for $50 an hour and file papers and there are attorneys who are able to litigate multimillion dollar cases. They take their 35% and one case can actually set them for life. Tim: Absolutely. And I agree on everything.