Rich Dog Millionaire™ http://www.richdogmillionaire.com Your guide to making money on the internet – the good, the bad, and the ugly Tue, 05 Jan 2010 05:15:15 +0000 en-US hourly 1 https://wordpress.org/?v=4.4.11 A Clever Viral Marketing Technique: “Fresh Balls” http://www.richdogmillionaire.com/a-clever-viral-marketing-technique-fresh-balls/ Tue, 05 Jan 2010 05:15:15 +0000 http://www.richdogmillionaire.com/?p=1948 Related posts:
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How would you like people to email your website link to everybody they know — for your site to go viral, as they say.

Think about it: Why do people forward links, pictures, videos, to their friends? How can you create a website or a marketing campaign that would lead people to hit the forward button? Jokes and sex are obvious examples. Check out the internet store link below. This link, with a clever video, has been popping up in inboxes:

http://freshballs.com/

Now, keep in mind: this is only one part of a campaign. You got them to your site. Then you have to convert them and convince then to buy. Does this sales pitch do it? It’s funny, it’s clever, it’s well produced, but will they buy it? We’re just asking. One downside to using humor, is that people don’t take your product seriously; you may not develop the trust necessary. Ultimately, there has to be a market for your product and those consumers have to be convinced — and trust — that your product is what they need (beer seems to be an exception). It’s one thing to get viral buzz; it’s another to convert.

A quick check of Alexa reports that “time on site (in minutes) peaked on Dec 21 at about four minutes. That doesn’t give much time to go through a shopping cart. Now “time on site” is down to two and a half minutes, which is roughly the length of the video.

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Book Review: “The 4-Hour Workweek: Expanded & Updated” by Timothy Ferriss http://www.richdogmillionaire.com/book-review-the-4-hour-workweek-expanded-updated-by-timothy-ferris/ Tue, 05 Jan 2010 02:56:51 +0000 http://www.richdogmillionaire.com/?p=1922 Related posts:
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We originally reviewed “The 4-Hour Work Week” here. As we said, the three chapters on “Income Autopilot” are probably among the best, concise step by step guides to building a successful, profitable, automated internet store. But this book is more than that — it’s how to reboot your life. Reading this book is like taking the red pill and discovering you have been living in The Matrix. It’s about escaping the rat race, yes, but — to use another movie metaphor — “You’re no longer part of the System. You’re above the System. Over it. Beyond it…. We are” the New Rich (NR), as Ferriss calls it. The author says: “How is it possible that all the people in the world need exactly eight hours to accomplish their work? It isn’t. Nine to five is arbitrary.” This and other “rules” are just so much software that has been plugged into our brains. Ferris teaches you DEAL (or DELA if you are currently employed), which stands for Definition, Elimination, Automation, and Liberation. The new expanded edition has over 100 pages of new content, including updated resources and more real word examples and suggestions from members of the NR.  It’s about how to use technology more effectively, but it’s also about making more effective decisions — i.e., applying the 80/20 rule to everything, ruthlessly. Topics include outsourcing, mini-retirements (rather than waiting until you’re older) and the concept of geoarbitrage. We recommend you take this red pill. Here’s the link to Amazon:  The 4-Hour Workweek, Expanded and Updated: With Over 100 New Pages of Cutting-Edge Content.

(Reviewed by Rich Dog Millionaire.com)

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A Lesson From “The Twilight Zone” http://www.richdogmillionaire.com/a-lesson-from-the-twilight-zone/ Fri, 01 Jan 2010 21:37:45 +0000 http://www.richdogmillionaire.com/?p=1929 Related posts:
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We were watching  “The Twilight Zone” marathon on Sify and saw the stopwatch episode (“A Kind of Stopwatch”) — where Patrick Thomas McNulty gets a most unusual stopwatch that can freeze time. What struck us was the scene — the black and white  office life of the early 1960s. All of the employees — each at his or her desk — each doing seemingly monotonous, repetitive tasks — only to be interrupted by the favor of a breakfast cart, with coffee and a coffee cake. The protagonist, McNulty, is the oddball — in a world where oddballs do not fit in. In his narration, Rod Serling calls McNulty “the biggest bore on Earth.” He fills the office suggestion box with all kinds of ideas — oddball ideas — that have no place in this world (but could perhaps be a fantastic product for an internet store, a half-century later). It’s like this episode is a parable (or fable) in which the stopwatch is the key to escaping this black and white world. Only the story was written by someone from this world, so the stopwatch becomes immoral (McNulty uses it to rob a bank).

But this is what really struck us: Human beings are still doing the same damn thing a half century later — the same habits, the same lifestyle patterns. Of course we have and use the our technology — the internet, email, etc  — but we use it in ways that essentially reinforce obsolete routines. For example, we all get in our cars to sit on the highway during rush hour, to go to and from offices — back and forth, nine to five. We spend hours at our desks and hours in meetings. When we should be harnassing our ideas and dreams, like so many McNultys, using current technology to build internet businesses instead of filling suggestion boxes.

(original content by Rich Dog Millionaire.com)

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Amazon Going Brick and Mortar? http://www.richdogmillionaire.com/amazon-going-brick-and-mortar/ Sun, 06 Dec 2009 22:19:03 +0000 http://www.richdogmillionaire.com/?p=1919 Related posts:
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The Sunday Times  is reporting that Amazon is secretly looking for store locations in Britain. Amazon is denying the rumors. But one wonders if there is fire behind that smoke. It may be an attempt to go after the “click and collect” market — where consumers buy online and pick up in-store.

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Switched: How to Spot an Email Scam http://www.richdogmillionaire.com/switched-how-to-spot-an-email-scam/ Wed, 02 Dec 2009 17:34:29 +0000 http://www.richdogmillionaire.com/?p=1910 Related posts:
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Switched has a great list of “10 Ways to Spot an Email Scam.” Scammers — hell, let’s call them what they are, crooks — use certain techniques over and over again, hoping in your busy day, clicking through emails, you will let your guard down and click something you shouldn’t. One of us had this happen to him: he received a scam email pretending to be from Paypal, asking to verify his password. He knows better, but in that instant, he clicked and typed in his password — too late — the crooks now had his password. This scam is the first on Switched’s list.

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New FTC Guidelines for Bloggers, Others http://www.richdogmillionaire.com/new-ftc-guidelines-for-bloggers-others/ Wed, 02 Dec 2009 03:49:52 +0000 http://www.richdogmillionaire.com/?p=1903 Related posts:
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Today — December 1 —  new Federal Trade Commission guidelines for endorsements and testimonials went into effect — guidelines that apply to bloggers and others who endorse products and get paid for it, ie through affiliate links.  The guidelines are broad but it’s basically all about disclosure and being honest. While officially you should seek your own counsel, here is a link that lists a variety of reactions and opinions to the guidelines. Our opinion — and it’s just an non-legal opinion of course — is that if you practice disclosure and you’re honest about why you are recommending a product, you won’t be a target.  See our Disclosure Statement in our “About” Page.

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Musicnotes.com Hits $1 Million Sales Per Month (Update) http://www.richdogmillionaire.com/musicnotes-com-hits-1-million-sales-per-month/ Wed, 02 Dec 2009 00:00:00 +0000 http://www.richdogmillionaire.com/?p=1886 Related posts:
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As reported in Internet Retailer, www.musicnotes.com  has hit sales of $1 million for the month of Nov, a 25% increase over last Nov; with annual sales of $11 million. Musicnotes sells licensed sheet music of nearly 110,000 songs that can be downloaded — no shipping or handling necessary. This is the kind of business we like — finding a niche  and designing an automated architecture, with repeatable sales. The company was founded in 1999 and is based in Madison, Wisconsin. Is privately-held, and currently has about 40 employees. The site now reaches about 120,000 visitors per day and 20% of its sales are international.

UPDATE: A reader just advised us of a possible scam related to musicnotes.com. We do not know if it’s true.

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The Fight For Control of the Internet — It Could Change Everything http://www.richdogmillionaire.com/the-fight-for-control-of-the-internet-it-could-change-everything/ Tue, 01 Dec 2009 22:34:30 +0000 http://www.richdogmillionaire.com/?p=1877 Related posts:
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Net neutrality. If you don’t know what it is, you should, because some corporations are trying that take it away from you. The Internet is an open platform right now — whether you are AT&T or a one-person internet store operating out of a bedroom, you have equal access to the world wide web. As Justine Bateman explains rather well, corporations HATE this. They — AT&T, Comcast, Time/Warner Cable, Verizon — hate it so much that they have 500 lobbyists in Washington (there’s only 535 members of Congress, so that’s about one lobbyist per member) and they have spent so far over $75 million “to convince lawmakers to restrict your unfettered Internet access.” As Bateman writes:

“They don’t like that they can’t tell you what to watch.

They don’t like that they can’t control the information you are accessing.

They don’t like that with just a couple of bucks, you can build a website or a platform or a web-series that can garner the size of audience that only they used to command.

They don’t like that they can’t get a cut of all of it.”

They want to remove free and equal enterprise from the internet. Not only would it affect your business — or business aspirations — it will change everything, just as the internet itself has changed everything. Call your representative; “save the internet.”

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Cyber Monday Sales May Hit Record http://www.richdogmillionaire.com/cyber-monday-sales-may-hit-record/ Tue, 01 Dec 2009 03:45:57 +0000 http://www.richdogmillionaire.com/?p=1874 Related posts:
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Amazon and Wal-Mart.com are leading the pack to a record Cyber Monday

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Making Money with Porn iPhone Apps http://www.richdogmillionaire.com/making-money-with-porn-iphone-apps/ Tue, 01 Dec 2009 03:40:13 +0000 http://www.richdogmillionaire.com/?p=1866 Related posts:
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We’ve seen this before: porn is a launch-pad for making money with a new technology:

As reported on Huffington, a company called MIKandi has taken advantage of Apple’s ban on adult content on its iPhone app store and used it as an opportunity to build a profitable business:

As Phandroid notes, MiKandi is tapping into a potentially huge market opportunity:

“There is a reason that pornography leads the internet in traffic and revenue and with everybody going after the mobile web, it’s a wonder that some enterprising adult company didn’t pursue this earlier. ”

 

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