Category Archives: Advice

Light bulbThere is a secret to finding good ideas. There is a process and frame of mind to have that will result in you having an explosion of ideas to pursue further.

Ideas are the starting point for all great things. For me the idea of having a nice passive income is driving me to more ideas of how to do it. But finding ideas that solve the question of how can be difficult. Here are my tips for getting answers to those vital questions. Continue reading

EinsteinEinstein probably the most famous physist of all time. His brilliance changed the way people people think. His theories have lead to nuclear reactors (and bombs), the mind bending time paradoxes, and a deeper understanding of gravity, and light.

He’s also widely attributed to this quote:

“The most powerful force in the universe is compound interest”

Einstein was wrong. Continue reading

leverageThere’s a video on the Thirty Day Challenge blog that has changed the way that I use the internet. The Challenge hasn’t even started yet and there’s already been some really good lessons. This video opened my mind to the power of using sites like SumbleUpon, Del.icio.us, Technorati, Facebook, personal blogs, and Flickr to create a lot of presence over one link. Using all of these services together increases the leverage. Taking this to the next level, there’s also introducing friends to these techniques and have them tag everything you just did.

Check out the video here.

You can imagine the viral nature of this. There’s so many services out there to help get your message out and create links back to your sites.

With the right tools it’s easy to make the entire process quick and efficient. And the effect can be profound.

Find places where there are lots of people and you’ll have an opportunity to get your message out. Remember, the more places where you link back to your site the easier it will be for people to find it. You can use leverage to make the impact even bigger.

Social NetworkIn my attempt at getting a business running online last month I relied solely on paid traffic by buying Google Adwords. There’s probably a lot I have to learn about buying traffic with PPC (Pay Per Click) systems. The biggest thing that I learned about AdWords was that it’s expensive.

Perhaps it was the words I was bidding on but even with the long tail keywords the cost was still typically in the 30 cents per visitor range. That may not seem like much but considering that a relatively successful blog will get about 1000 visitors per day. It would add up pretty quickly to get any meaningful amount of traffic.

Enter the Social Networks. Continue reading

exitAn exit strategy is a plan to cash out of the business. Even if you plan on keeping the business running forever under your control it’s still important to have an exit strategy in writing. It can be part of the business plan.

The exit strategy serves to keep the business ready in case an opportunity comes to be bought out by a larger company. Many small companies start with the vision of getting either bought out or doing an IPO. With that kind of solid exit strategy goal the business founders are more likely to realize the wealth they’ve been working to create in a business. However, it’s important to have a documented exit strategy for any business. Continue reading

JP MorganOne day, a man approached JP Morgan, held up an envelope, and said, “Sir, in my hand I hold a guaranteed formula for success, which I will gladly sell to you for $25,000.”

“Sir,” JP Morgan replied, “I do not know what is in the envelope. However, if you show me and I like it, I give you my word as a gentleman that I will pay you what you ask.”

The man agreed to the terms and handed over the envelope. JP Morgan opened it, and extracted a single sheet of paper. He gave it one look and handed the piece of paper back to the gent, pulled out his checkbook, and paid the man the agreed-upon $25,000.

The paper read:

  1. Every morning, write a list of the things that need to be done that day.
  2. Do them.