How To Get Out Of The Rat Race

Most of us are in a rat race - myself included.

You go to work to earn income, then you spend it on food, gas, rent/mortgage and other living expenses, and save whatever is left of that income, if any.

Each day you repeat this cash inflow and outflow.  It’s like a never ending cycle.

On some days you can save more, on some days you find yourself tapping into your savings for emergency expenses.  And you haven’t even begun to think about splurge spending such as entertainment and traveling.

The rat race continues.  Until you have saved up enough for retirement, you can not call it quits.

The secret to getting you out of this vicious earn/spend cycle sooner than what the government has planned for most people - social security retirement at the age of 65 (or older if you are born older), provided that the government is not bankrupt by then - is through proper investing.

You have different investment options - you can put it in a savings account, invest in real estate, stock market, commodities, businesses, or even invest in yourself in higher education and self improvement.

Since this blog is about earning online passive income, I will mainly focus on how you can invest in an online business, or to get an education on how to start your own online business.

One thing to keep in mind that the world has gone digital thanks to the internet.  It is through the internet that enables this blog to reach out to other, virtually in any corner of the world who has an internet connection.

Smart people have taken advantage of this new media - they began to sell over the internet.  Their markets are no longer constrained to local markets.

Their products no longer needs to be an actual physical product - the information product age has taken off.  People are now producing and consuming information over the internet.

This phenomenon simply can not be ignored!

Now, let’s look at why you should consider starting your own information product business.

First of all - the barrier of entry is low.  Since the product is digital, you don’t need to put up the initial cost of product design, prototype, and production.

Since the product is digital, it could very well be a 500 word article that you sell to other content consumers.

Since the product is digital, you could sell multiple copies without incurring additional reproduction cost.

Since the product is digital, your “online store” is open 24/7 and you can actually make sales while you are asleep.

And since the product is digital, consumers can instantly download the product off a website after the payment is made, all without incurring shipping cost to you.

You essentially have a 100% margin on each sale, and best of all…

You can set up online sales funnels and just watch your personal ATM machine at work - truly exemplifies my “Work Once, and Get Paid Over a Lifetime” mantra.

These advantages, along with other benefits, are what make the information product business so lucrative, and sought after - I have an information product business and can vouch for validity of the business and how hands-off once you set it up.

This is what I teach on this blog - and I invite you to explore the infinite possibilities of the internet and how you, too, can set up your own information product business and reap the benefits of what you sow today.

What You Need To Do Next

A famous Buddhist proverb says “When the student is ready, the teacher will come” - the question to you is, “Are you ready?”

To start things off - I’ll give you my “6 Steps to Starting Your Own 6-Figure Information Product Business” blueprint if you would please subscribe to my blog by putting your name and email below. You will receive an email notification whenever I post something new to my blog.

“It’s not about having wealth, it’s about having…

I’m just about to finish “reading” Stephen R. Covey’s “The 7 Habits of Highly Effective People” audio book (Unabridged Audio Program).

Buy from Amazon

You see, I love self improvement, self growth, business books - but I am not a good reader.  Not at all.

I often pick up a book, read the first 20 or so pages, and doesn’t finish - do you have this problem, too? 

That’s why I decided to give audio books a try.  Now I am addicted to them, or this format of learning.

What I do is leave this audio book in my car and in my hour commute daily I would just listen to the program.

I’ve always wanted to capitalize the time behind wheel, and I’ve always thought it’s a waste of time to be stuck behind wheel.

I am actually amazed at how much I was able to “read” in just 3 short weeks.

Also, being a dad of 2 kids really makes you think about better time management, and how to squeeze more hours out of the 24 given you each day - and using my time wisely behind wheel is one of the ways.

So, in the last CD of the audio program, Stephen said something that was both powerful and profound:

“It’s not about having wealth, it’s about having the ability to produce wealth.”

He talked about the balance between P-PC, or Production, and Production Capability.  Most people get caught up with using their skills to produce, that they neglected sharpening their saw and honing and acquiring new skills.

He also talked about the 4 quadrant of time management which I thought was very interesting and something I can relate to.

Any of your daily activities will fall into one of the quadrants:  Urgent & important, urgent & not important, not urgent & important, and not urgent & not important.

He stresses that as effective people we shall invest time in not urgent & important activities - activities such as exercise, eating right, continuous self improvement, etc.

So why do I bring this up?

You are reading my blog to learn about building passive income because you want to…

- Get out of the rat race,
- Be financially independent,
- Work less and earn more,
- Be free, and
- [Insert your reason here].

You see, these reasons are important to you - but are they truly urgent matters to you?  You will tell yourself, “Oh, what’s another day, I’ve got tomorrow.  I still have a job and secure income so [Insert your reason here] can wait another day.”  Then another day becomes another week.  Another week becomes another month.  Another month becomes another year.  And when new year comes around you tell yourself “This is it!  It will happen this year” and nothing happens - you are still the same old you (no, sorry, you are a year older now).

In Chinese, one of my favorite sayings is “狗改不了吃屎” which literally translates to “Dogs won’t ever stop eating shit” which really means, “Habits don’t change.”

Why am I telling you this?

If you are stuck in a rat race, and you are not happy about it - then do something about it!  Start learning and apply what you learn.  Start with my “6 Steps to Starting Your Own 6-Figure Information Product Business” blueprint if you want to build a lifetime of passive income streams.

If you are willing to do what it takes to improve your life then put your name & email below to get started.

Creating Value

I had the pleasure of talking with my geeky brother today about business - where it stands, where it is going.

“Yeah, what do you know… you are just a techie!” I thought to myself.

But one thing that he mentioned that struck me silent was the idea of creating value.

You see, most people are so caught up in trying to make money they forgot the very essence of why customers buy from you - because your product or service has value!

So, take a step back and let’s ask ourselves, how do we create value?

I came to this conclusion and the following actionable items.

Create value by doing what others are not doing or willing to do

I don’t care what profession or business you are in - if you start doing something today that other people in your profession or business are not willing to do, you therefore create value.

For example:

Those in the software business:  Instead of selling a piece of software we give it away for free.  This poses a tremendous value to people and we gain their trust and loyalty for future product releases or recommendations.

Realtors:  Write a “10 things you must know before you buy your home” and “10 things you must know before you sell your home” and give them away for free to your clients or prospects.  Offer you clients a helping hand in moving when you have helped them buy/sell a house, etc.

Info Product Developers:  Give away your best content.  Double refund as your guarantee.

Individuals:  Extend a helping hand.  Volunteer.  Share information.

I want to hear what things you are doing or have done in the past that has helped create value.

3 Make Money Online Myths

I received the following email from Ken McCarthy who runs the systems seminar which he talked about some of the biggest myths about making money that I thought I’d share with you.

I find them to be very true, and I especially like Myth #1.  This is not to say that you will always have to work hard, but you do need to do your share of planting a tree before you can enjoy the shade.

==== reprinted with permission ====

Steve

This summer I find myself working harder than I have in a long time.

And you know what?

That’s a good thing.

If this confuses you, you should read a book called “The Millionaire Next Door.”

It explodes a lot of the biggest myths about m’oney making.

Myths that quite frankly, a lot of people are working overtime trying to sell you because they want you to spend without thinking.

======================================
Myth #1: Millionaires don’t work hard
======================================

I know many, many people who’ve become
financially successful starting from scratch.

Folks who’ve elevated themselves from zero to millionaire and multi-millionaire status.

And they all share one thing in common…

They work much, much harder than the
“average” and “sub-average” person.

I know this flies in the face of the guru fantasy guys, but sorry, it’s reality.

The good news is if you think you must being doing something “wrong” because you work so hard, guess what?

You’re on the right track.

===========================================
Myth #2: Millionaires spend lots of money on toys and other indulgences.
===========================================

Yes, the news media loves to shower attention on big spenders. After all, extravagant people make for good stories.

The gurus like to talk about their expensive cars,  their expensive vacations, their over-sized homes.

They’re idiots.

I’ve met many people who could buy and sell the average Internet guru hot shot tens times over and most of these self-made folks are militant about living normal, low key lives.

Why?

They’re more interested in building their net worth than building their overhead.

(Read that sentence again. It may be the most succinct and powerful financial advice you’ll ever get.)

====================================================
Myth #3: Millionaires are all about the “lifestyle.”
They know the best clubs, the best vacation spots, the best cars, the best of everything ====================================================

Financially successful people are all about being effective in their marketplaces.

They could care less about *appearing*
wealthy. They’re far more interested in
*being* wealthy.

They’re constantly on the look out for opportunity.
They’re always seeking ways to be more productive, to make their offerings better, to reach new markets.

They make a game out of it.

When you’re in the right market and you enjoy what you’re doing, it’s fun.

“Normal” people want to take it easy. They dream about retiring early. About getting something for nothing.
That’s the formula for getting nowhere.

There are two kinds of people in the world when it comes to wealth building…

People who are production minded and people who are consumption minded.

When people who are consumption minded
get a windfall, their first thought is to how to spend it.

When production minded people get a
windfall, they put it aside and get back to work. They try to figure out how to take the win and leverage it to go even further.

That’s the mind set of the entrepreneur.

And when you live this way, you’ll find you have the money of anything you really need or really want to do.

“The Millionaire Next Door” is a great book and it will help you get your head screwed on right about money and how it’s really made and accumulated.

*** Opportunities for Internet marketers

This summer I’m working hard on new ways to bring more people to the Internet marketing world the right way.

Three things for you to check out:

— The System Intensive in London

If you live in the UK or Europe, or can otherwise get to London easily, and you want to learn how to use Internet marketing and direct marketing to build real, solid wealth, I be offering a unique training called the System Intensive this fall in London.

More details are available here:

http://www.SystemIntensive.com/uk

— The System Boot Camp in Chicago

The annual System Seminar is where people with six, seven and even eight figure a year businesses go to get new ideas and inspiration on how to take their businesses even further.

But what if you’re just getting started or you’re still trying to make your first big breakthrough in Internet marketing?

Where can you go?

It’s been seven years since I offered a
course especially for beginners and
intermediate Internet marketers.

This fall, I’m offering a brand new
one that includes all the big changes
that have taken place in Internet marketing in the last seven years.

I’m not sure when I’ll get the chance to offer another training like this in a live setting…so if you want to get the training that has launched more Internet marketing success stories than practically all the other seminars out there put together…
check this out.

More details are available here:

http://www.SmartBeginners.com/bootcamp

—- The Virtual System Seminar

Until now, the only way to access the
System Seminar training has been to get on a plane and come to Chicago.

Not only has the tuition gone up steadily every year since we started, but so have transportation costs and it looks like they’ll be even higher next year.

For years, people have been asking me to make the System Seminar available remotely.

This is the year we’re going to do it.

For people who know a great opportunity
when they see one and don’t need a big
song and dance, we have an amazing deal
for smart early birds.

More details are available here:

http://www.thesystemseminar.com/2008/cds/

However you decide to use your summer…
whether to work or play, or do some of both, I hope it’s a great one for you.

It’s been a long time since I’ve been on school, but summer still represents freedom to me and that, ultimately, is what smart entrepreneurs are working for.

Best,

Ken

P.S. This would be a very smart way to make your summer highly productive:

http://www.thesystemseminar.com/2008/cds/
Ken McCarthy
The System Seminar

———————————————————
* The System Seminar  March 27 - 29, 2009 The annual gathering of *serious* Internet entrepreneurs http://www.TheSystemSeminar.com

* London UK - System Intensive November 15 & 16, 2008

* Home study solutions for Internet entrepreneurs http://www.KensCatalog.com

* Serious marketing books for serious marketers http://www.RealMarketingBooks.com

———————————————————

The System
Education for Internet Entrepreneurs
14 North Road
Tivoli, NY 12583

It’s Not About The Money?

Yeah, you’ve heard the saying, “It’s not about the money.”

Well, that would depend on what context you are using it in.

If you are suddenly broke or if your objective is to make as much money as you can, then yeah, it’s all about money because that’s what you are after.

But after a while people realize that they are simply trading their time for money. They realized that in order to make money, you have to spend time to make money.

That’s why sometimes it is important to remind ourselves what we are truly after. Is it the new car that you’ve always wanted, more time with your spouse or family, the new house that you dream of, the respect and fame that money will bring for you (and all the trouble that follows)?

Make no mistake - money is a common denominator, just like time.

Money is time, and time is money. Both can be traded (people do everyday, trading their time for money), both can be leveraged (investors leverage money and time for more money and time for themselves), both can be earned (sort of) and lost.

So, having that said, how can one make more money or time for himself?

Simple, you need leverage. You need a way to generate passive income, not earned income where you trade time for money.

You need a profitable procedure that can be performed by people other than yourself. And there are only two type of activities that I know of that can produce such desirable outcome - business and investments.

Many people confuse self-employment with being in business. If you find yourself trading time for money in your business, then you are most likely self-employed. You’ve just bought yourself a job.

Alternatively, you can be in the business of investing, where your time and money is highly leveraged. The simplest, least risky investment (and thus lowest return on your money) is putting your money in a CD or a savings account, where you allow the bank to leverage your money to make more money.

It sounds easy, but it isn’t. Because leverage goes in opposite proportion with return. The more you leverage your time and money, less return is expected (just like saying high risk yields high return), so it’s a game of constant improvement of your business process.

So, rather than debating whether it is or isn’t about the money, it truly is all about keeping the money, and making more with it.

—
So think about your online business - do you have a profitable business model, a profitable and sustainable business process, one that can you out of the equation and replace it with someone else? Is the business model expandable? If you place two of you in your business, will the profit double?

Think about those questions for a moment and truly evaluate all the aspects of your online business… or perhaps you are still self-employed?

Instilling a successful mindset in the beginning is the first step to your financial and personal success.