I’ll get to the “$5million” plan in a moment, but first some classic wisdom.
Around this time of year a lot of people get really serious about their future, their physical and spiritual health, their finances, their relationships and their life goals – but I’m not big on resolutions at the start of each new year.
Here are some year ’round rules of thumb that are far more powerful than any “big goal setting session” you might feel prompted to take:
Over the past 10+ years I’ve gotten better and better at taking the above classic (aka “boring”) advice in ALL areas of my life and WOW has it paid off!
The above classic advice has lead to me having unbelievable success in multiple online biz models as well as an incredibly large (and growing) loyal audience that includes great people like YOU! In 2013 we blew past the 1,000 testimonials mark and they are still pouring in weekly.
Now…Let’s talk about my $5million plan!
Because my reading audience has grown so large, I could EASILY cash out, sell out, and get rich…(don’t worry – I have bigger goals than that).
Let’s just say I wanted to earn $5million in 2014 here are the simple steps I would take:
1. sell my soul (can’t have guilt slowing me down now can we?)
2. Next, I’d promote every “hot” internet program that launches. I’d easily be in the top 5 in total sales made on nearly all of those launches for the first several months until my readers started to catch on and I started losing their trust. That’s OK – I’d flash those big commission checks and gain even more zombies…I mean subscribers to my email list.
3. Next I’d promote stuff I’ve never promoted before – stuff with “hot” themes like : “Simple Facebook ads = instant wealth”, or “Affiliate marketing riches in 5 easy steps” , “The exact Ten products anyone can sell on Amazon or eBay and stuff their bank account”, or ”The top secret program that has cash flooding my paypal account every day” , or “how to get rich convincing people that you know how to get rich online” or “4 steps to automatic daily income online”…
I can see it now…I’ll build sales pages where I’ll flash pictures of my family on vacations in exotic places, show a pic of a nice car (a rental with me in the driver seat will do nicely) and many people will fall for it and BUY IT ALL.
THAT’S NOT GOING TO HAPPEN!
Why do I point this out though? Because I’m sad to report that there is an abundance of “shiny object” garbage out there that will take you down the rabbit hole if you are to fall for it. It’s sad to see “experts” pushing garbage on their audience. In the end THEY LOSE as do their customers. It’s so obvious to me.
The classic (boring) facts are just as true today as they’ve always been:
Here’s a recent question I got from a blog reader:
What is your personal strategy and mindset for making sure you don’t lose focus on any one of your businesses while creating multiple streams of income? ”
I love this question.
I’ll invent a new term as part of my answer:
The top 20-30% of my priority list is non-negotiable. My spiritual walk, my family, my health, the daily/weekly/monthly “must do’s” to keep my established relationships, commitments and vital business responsibilities in clear focus.
So what about the lower 70-80% of my priority list?
My personality allows me to quickly adjust the lower 70-80% of my priority list from day to day or even hour to hour. I don’t know if that “flexibility of priorities” can be taught or not, but it serves me very well and comes almost instinctually now after doing it for 10 years+.
I find most entrepreneurs don’t struggle with the ability to shift focus from task to task when required (yes – it can be done in a HEALTHY way). Sometimes it feels like a curse to be so easily distracted when performing “lower priority” activities, but I think it’s a gift if you use it with a dose of discipline.
Some specific tips I suggest you keep in mind when managing the lower 70-80% of your schedule:
1) Keep ROI in mind constantly in regards to your TIME
2) Build stuff that lasts…don’t trade $ for hours unless absolutely necessary or VERY profitable
3) Hire and pay great people to do just about anything that doesn’t 100% REQUIRE your presence
4) In regards to #3 there is almost ALWAYS someone better, faster and cheaper than you unless we are talking about “the big three”
5) The “big three” are Creativity, Relationships and Leadership – be flexible, but focus on those once the “top 20%” is covered.
6) If your biz isn’t profitable enough to do these steps it just might be a bad biz model or you are making bad decisions…or perhaps you simply lack…
My definition of Disciplined Distractibility? A focused commitment toward maintaining a flexible enough schedule & a clear enough mind to allow nearly instantaneous shifting of the non-crucial elements of your priority list whenever it’s necessary to do so.
Having DD means you are prepared for the opportunities that inevitably arise all around you…even if it’s a chance to go to the zoo with your kids on virtually no notice (like I did yesterday).
Warning: To the casual observer it looks a lot like flying by the seat of your pants, but the results can’t be argued with!
Care to comment? I’d love to hear your thoughts!
“So, what do you do for a living?”
How do you answer that question? (leave a comment)
As an online “Multiple income stream” entrepreneur, here’s how I answer that question (in general):
“I know how to make stuff happen online. I can generate leads, grow an audience for an idea or a product, or even liquidate inventory. I also teach other people how to do those things for their businesses.”
Answering in such a way has opened up new opportunities for me consistently in each of my three primary online businesses for years.
Or, if I want to keep it simple I’ll simply say, I’m “an internet business author”. Sometimes it’s best to keep it short and send new contacts one of my books if they are interested in more info.
I have been teaching these three biz models for over 10 years, and have been doing them myself for over 12 years. To my knowledge I’m the only one who teaches these three AND does them actively, but the “CES” approach is the secret behind the success of so many students, partners and my own biz.
C: Consult (teach others what works online). You know more than you think!
E: Expand (grow your audience – build a tribe). This leads to affiliate marketing, your own products and new clients (see “C” above)
S: Sell stuff (eBay, Amazon, your own website etc.) A biz model that seems like too much work to many, but is the starting point for numerous success stories including my own. It scares of the lazy and leaves plenty of room for those of us willing to work.
Here’s a recent screen shot of my email inbox (unedited except to protect privacy). You’ll see income for the “E” and “S” biz segments shown here. The “C” income comes in larger checks from clients.
Lately I’ve been running into a lot of people who are of the opinion that “content” or “information” should always be free.
These wandering souls all willingly ignore the ageless wisdom of sayings like these:
I call it a “poverty mentality”. Even seemingly successful people can have it. They have thoughts like these:
To be clear – these are not the thoughts of successful leaders building incredible businesses.
If you add up all the free content I’ve created over the past 10 years of building my businesses and teaching others it would be a virtual library…and I welcome you to take your time and check out my “free stuff”, yet some still complain when I charge a few dollars for access to my latest ideas. It confounds me, but I love how it weeds out the “poverty mentality” followers.
Yes – of course you should use extreme discretion when investing in yourself or your business, and demand refunds on worthless products that were overhyped and wound up under-delivering, but by all means, build relationships with and invest in people who have proven that they know how things work in the real world.
I invest regularly in my own future success and I always have. I’m taken more seriously, get more attention, build stronger relationships, have more pride in myself and am ultimately more successful because of it.
Having worked now with literally hundreds of entrepreneurs at all levels of success I’ve started noting some trends and patterns. I’m gaining the ability to know who will and who likely won’t be succeeding any time soon.
One of my best rules of thumb is this.
WHO DO THEY BLAME WHEN IT ALL GOES WRONG?
In other words, there are plenty of people, trends & obstacles we COULD blame, but those of us who survive are the same ones who know exactly who/what to blame when it all goes bad.
You have two choices when it comes to the blame game:
You can either blame your own lack of EFFORT, WISDOM or DISCRETION, or you can blame No One and chalk up the lesson as one you needed to learn on your way to your next success.
Any other party, person, business, government official, family member or even weather event that you blame means you aren’t quite ready for the big leagues. You are letting yourself off the hook.
Blaming someone or something else for a failure means your focus isn’t on the prize. You’ll be easily derailed again soon.
So, think of your last few failures (we all have them). Who did you blame? Your answer tells me a lot about your future.