Well, we’ve been not posting of late because we’re transferring our blog to a self-hosted account. We’ll let you know as soon as it goes live–in the meantime, we’ll be going back and reposting the entries we’ve written over the past two weeks, so make sure you go back and read them!
As soon as the new blog goes live and everything is migrated, we’ll post here and let you know!
In the meantime, have a great weekend!
To your success,
The Millionaire Secrets Inner Circle team
Hopefully you’ve now started to research your passion, and have found your target market. If so, fantastic–if not, keep researching.
The next step is to see if your target market, in your passion area, is “hungry.” How do you find this out? Look at your research. Are there others in your passion market that are selling things to your passion audience? Are they successful businesses? Are there products that your passion market needs to follow their/your passion?
Hopefully the answer to all of this is yes–in which case, you can jump into the next phase of research. If not, don’t give up quite yet–there are still ways to make this passion work, though you may want to move down your list to your next passion and do a similar analysis on that one.
(Bottom line, just about anything can be monetized–we just want to jump in on our first one with a market that is already hungry, where there are plenty of products and services already offered.)
Compile a list of all the different products or services that are being sold in your passion market, and begin to see which of these–if any–have affiliate programs. This is the next order of business, and it’s crucial to do this research. You don’t want to wind up in a position where you’ve built out a business, and have nothing to promote or sell. That’s just wasted time–it’s a hobby in disguise as a business.
Do the research, and keep an analytical mind. Don’t kid yourself into thinking you can make a go of it if no one else is already.
(That can come later, once you’ve already broken into other markets–but you don’t want to start with an uphill battle.)
To Your Success,
The Millionaire Secrets Inner Circle team
Hopefully you have come up with at least one (or several!) passions that really drive you and keep you alive, keep you going, and light your fire. While we know it’s tempting to want to follow them all, you need to pick one to start with. Just one.
Keep in mind that picking one doesn’t mean that you’re giving up on the others–you’re just focusing on one thing at a time. You’ll get a lot more accomplished if you pick one and follow it through, and then move on to the next, rather than jumping from A to B to C every day. Remember the post about Rich Schefren? That model applies here.
So pick one. Even if it doesn’t seem right now that it’s something that you can make money doing–believe me, there is always a way.
Dig in deep. Do research. Find out where other people with the same passion hang out. What do they talk about? Are they “hungry”? (Meaning, are they buyers?) Start compiling a list of all of this stuff, and we’ll talk about how to move forward next time.
To Your Success!
The Millionaire Secrets Inner Circle team
For those of you in business already (and hopefully really successful entrepreneurs!), an interesting book is out now called “Inside Her Pretty Little Head” by Philippa Roberts. The book covers how marketing has gone far astray in marketing the same way to both men and women, asserting that men and women are just plain hardwired differently.
The book outlines the “Four Feminine Codes” that must be taken into account when marketing women.
1. The Altruism Code: women are naturally nuturing and altruistic
2. The Aesthetic Code: women are more interested in apperances and aesthetics
3. The Ordering Code: due to the fact that women have more roles and responsibilities in their lives, they are much more likely to organize and plan; and are disturbed by disorder
4. The Connecting Code: women use relationships for survival
Bottom line: if your business involves women, particularly having women as target customers, you need this book!
To your Success!
The Millionaire Secrets Inner Circle team
If you’ve been following along, you should now have a pretty good list of passions, and some ideas about what you love about each, what you don’t like about each, what could be improved, and whether anyone is already working in that area.
And, your brain has now had all night long to mull it over and let your subconscious play.
Look at your list again. What is the first thing that pops out at you? Did you come up with any new information on it? Do you see a problem that you can solve regarding it? Is there something you could do–a service or product you could provide–that would help others enjoy it more?
We guarantee that if you really focus in on your passions, you’ll figure out one that strikes you as a driving force, and you’ll be able to turn it into something. We have done this with clients time and again, and this exercise has never failed to create something that can make money.
So continue to work on your passion list. Continue to let your subconscious play. And if an idea strikes you, WRITE IT DOWN! Do not censor yourself in the process–sometimes some of the strangest ideas are where the gold is!
More tomorrow…
The Millionaire Secrets Inner Circle team
If you followed yesterday’s post, we talked about the importance of knowing your passion. Hopefully you made the list of everything you’re passionate about, even things that may seem silly or that you have no idea of how they could possibly make money.
Today you’re going to take that list and start brainstorming. Look at the first item on there that really pops out at you. What do you love about it? What part is your favorite part? Is there something about it that could be improved (for yourself, or for others that may enjoy it as well)? Are there any businesses out there doing something in that same passion area?
Do some thinking on this, and let your mind mull it over. If nothing comes to you on a particular item, move on to the next one. Jot down any thoughts you have, and keep this in a safe place. You only need to spend 15 minutes doing this–and then put it aside. (Your brain will continue thinking about it subconsciously, which is where the real power is!)
Stay tuned for the next step!
Onward!
The Millionaire Secrets Inner Circle team
A recent article discussed the statistics of the top 1% wealthies families, which are families with $5,000,000 or more in net worth. There was a lot of good news in the article:
1. Most of those fortunes are less than 13 years old, meaning the vast majority (70%) earned the money themselves, not through inheritance.
2. Only about 10% of these families inherited the wealth.
3. Of the money, only about 10% was gained through investing in the stock market.
4. And perhaps most importantly, most of these people are entrepreneurs!
What does all of this mean? If you have a passion and follow it, with an entrepreneurial spirit, that level of wealth is definitely obtainable! How great is that?
But the key for most of these people is passion–it’s what drives them to jump out of bed in the morning, excited to start the day and get to work. They found something they loved to do, and made the most of it.
So, do you know your passion? Even if it isn’t something that you can see how it could potentially earn money for you, you need to know your passions! Start today by making a list of everything you love.
Tomorrow we’ll talk about what to do with that list.
To your success!
The Millionaire Secrets Inner Circle team
Success starts at home. If you have a mess at home, it’s likely you have a mess at work. If you are fighting at home, it’s likely to carry over to your work. If you’re behind with the laundry or bills at home, you’re likely behind at work. You get the idea.
To keep today simple, look at your home and look at your work. Where do they correlate? What can you do at home to make your house more welcoming, more comfortable, more peaceful, and running smoother? What activities can carry over to work?
If you have your home in order, the peace of mind will carry over and you’ll be more productive, organized, and successful in your work life.
To Your Success!
The Millionaire Secrets Inner Circle team
Since Fridays around here usually consist of little work and lots of time off (yes, the office is usually closed on Fridays), we’ve been a bit remiss in keeping the blog updated on Fridays. But no more–we are now devoting Fridays to useful bits of information that will help improve your bottom line. So, here are two interesting things we’ve found out recently:
1. Apparently Hewlett-Packard hired researchers to conduct a study as to the effects of what they termed “infomania”–what they term as the addiction to computers, email and text messages. They found that employees and executives who were frequently interrupted by email and phone calls (or, rather, chose to be interrupted), had progressive declines in I.Q.
While this may seem reasonable, the I.Q. declines were found to be over twice that found in long term, frequent marijuana smokers! (Put that in your pipe and smoke it!) This equates to an over 10 point decline in I.Q. for people who were significantly distracted by email, phone, and text messages (where they would interrupt other tasks to turn their attention to these interruptions).
Bottom line: if you want to stay smart, limit your distractions. Either learn to not check your email or blackberry every time it beeps, or actually turn it off for set times each day, and schedule the time that you will check it. (For instance, I ignore outlook, my phone and my blackberry for 55 minutes of every hour, and only spend 5 minutes each hour checking to make sure nothing important has come in. My productivity has skyrocketed!)
2. Read more books! According to the Department of Labor, statistics indicate that business people who read at least 7 business books a year earn over 230% MORE than people who read only one business book a year. This may, actually, equate closer to people who continually want and like to learn, versus those who don’t. Bottom line: if you want to earn more, then learn more! (Actually, learn, process and implement more!)
To help you all with the second point, here’s the beginning of a list of books we’d recommend you start with:
Getting Entrepreneurial! by Larry Farrell
The 360 Degree Leader by John Maxwell
The Art of Possibility by Rosamund and Ben Zander
Now, Discover Your Strengths by Marcus Buckingham
Have a wonderful weekend!
The Millionaire Secrets Inner Circle team
We have spent a lot of time talking about getting in the right frame of mind, and some esoteric discussions about being successful. Now, however, we’re going to be turning our attention to more of the nuts and bolts of how you really go out and become a millionaire.
(Don’t worry–we’ll still talk about all the other stuff along the way too–we’re just adding more in!)
Even if you have very little capital to start with, it’s important to put it to work in the right way, from the very start. And one of the biggest things that most people (who end up having failed businesses) neglect to do is reinvest in the business. So, two tips for today:
1. Figure out what it is you need, absolutely need, to run your business, and find the least expensive (or free) way to start. It may not be the best solution for the long run, but if it works for what you need now, you can grow into the more expensive items later. Save your money for things that you really need to spend it on now for your business. (For example: you may need to buy a computer, so get a good one. However, there may be an expensive piece of software that has all sorts of bells and whistles that you don’t need now and may in the future, but a significantly less expensive one that has just the things you need now–so you may want to opt for the latter.)
2. And this is a very important one: REINVEST in your business. That first dollar you earn, over and above costs, is your first dollar of profit. But that doesn’t mean that it should go straight into your pocket. Use it to reinvest in your business. Put it towards advertising, towards getting more customers, to improving systems. I know it’s tempting to just pocket the money, but your business will not grow without reinvesting into it.
Use that as food for thought for today.
Onward!
The Millionaire Secrets Inner Circle team
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