Rich Dog Millionaire™

When we joked a while back about making newspaper ink addictive (actually it was a Jon Stewart joke), we had no idea it wasn’t total fantasy. No, nobody is making a narcotic ink, not yet anyway; rather, somebody is making FLAVORED ink. The internet has taken a lot of business away from newspapers. But the one thing the internet cannot do, yet, is transmit tastes. Scented advertisements have been around for a while. Now, as The Economist magazine reports, Adnan Aziz has built a company, First Flavor. He was watching “Willy Wonka and the Chocolate Factory” one day, the scene where the kids are licking the flavored wallpaper — “The snozzberries taste like snozzberries” — and it gave him the idea. When Veruca Salt said, “Who ever heard of a snozzberry,” now a Willy Wonka can advertise one and let her taste it.

This is the kind of innovation that builds business. And that was our point in the earlier post — you cannot legislate and regulate to prop up a business that is no longer viable under its current model; you must evolve.

We guess you can call this our Easter post, Happy Easter from Rich Dog Millionaire.

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One of us just finished the biography of Hugh Hefner, Mr Playboy: Hugh Hefner and the American Dream. The key take-way — that kept coming back again and again – is that, Hefner was not only the Editor and Publisher — he was also the demographic. In other words, he was putting together a magazine that HE would want to read. In MORE other words, he built a business that he was passionate about. And THAT is the key to success. Look at McDonald’s: Ray Kroc was not passionate about hamburgers; he was passionate about franchising, and one of his executives was passionate about real estate — the result: a $40 billion business.

What we’re saying is, you need to build a business around something you are passionate about. “Naked girls, sounds good!” Yes, grasshoppers, but look at the situation, Hefner saw the opportunity in 1953 — in a world of Esquire-type mags — for nudity, in a cool, sophisticated way. He wrote a whole Playboy philosophy about it. So what are you passionate about? Yes, it can be sexual, but what opportunity can you find today, in 2009? If you blog about your passion — or if you build an e-retail site about your passion — you are automatically WAY AHEAD of your competition, if they are just thinking of it as a way to make bucks. You will eventually make more bucks because you will attract those who have the same passion as you. You will have no problem blogging about your topic late at night, after work (or adding another product to your online store) because you like – love – doing it, just like your readers/customers love it.

Expertise — and eventual success — is simply, ultimately, the result of passion.

(original content by www.richdogmillionaire.com)

Technorati Tags: "Mr Playboy: Hugh Hefner and the American Dream", Add new tag, Adult, biography, Blogging, Book Review, cyber playboy, E-Retailers, Editor, Hef, Hugh Hefner, Make money online, Making money blogging, McDonald's, Money-making blogs, net worth, nude girls, nudity, Online Stores, passion, Playboy, Publisher, Ray Kroc, Rich Dog Millionaire, Sex, Steven Watts, Traffic Building

“The E-Myth” books by Michael E. Gerber are not generally internet-biz oriented but the series has been among the best-selling business books in years. Do you know what the “E-Myth” is? Basically, it’s the fatal assumption that many, if not most, entrepreneurs have, in starting up and running their business. The assumption is that: knowing the job equals knowing the business. In other words, consider a character that Gerber introduces to us, in “E-Myth Revisited”: Sarah, who is an expert at baking pies. She assumes that, because she knows the techincal side of the business — baking pies — she knows the most important part of the pie business. But she doesn’t, not even close. Just because you know how to set up a website, or you are pretty good with Adwords, doesn’t mean you know how to run an internet business. Another point Gerber says: “If your business depends on you, you don’t own a business, you have a job.” This is also what Tim Ferris was saying in his great book, reviewed here, about the importance of automation.

The way Gerber explains automation is through the model of franchising. Eighty-percent of all new businesses fail within the first five years, 75% of all business-formatted franchises SUCCEED. Franchises concentrate on building a business SYSTEM that can operate automatically — and autonomously — without you having to be there, and it can be expanded — and duplicated — which is what empires are made of. Consider Sarah’s pies — and consider the McDonald’s Big Mac. Is McDonald’s Big Mac the best, tastiest hamburger ever? Most would say no — but McDonald’s is a $40 billion a year business, with nearly 30,000 restaurants in 120 countries.

So look at it this way, whether you are a blogger or internet retailer or any other internet entrepreneur: If you want to grow and build a successful business, what can you learn from McDonald’s and others? Nobody else is talking about this today in “cyber world.” For these reasons, we recommend: The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It

(reviewed by www.richdogmillionaire.com)

Technorati Tags: Add new tag, Automation, Book Review, E-Myth, E-Myth Revisted, E-Retailers, franchising, How to make money online, Make money, Make money online, Making money blogging, McDonald's, Michael E. Gerber, Rich Dog Millionaire, Tim Ferris

We’ve been reporting about this site — or rotation of sites (here, here, here, here) – that has been ranked high on Alexa. A few days ago, they were ranked in the top 10 for traffic, and now they seem to be dropping (APR 6 UPDATE: Back in the top 10 on Monday). Go here for our reporting — but basically, it looked like someone was using at least four different websites/domains to pitch some kind of Google Adsense nonsense. Each site used the same picture of a $5,000 check dated October 25, 2008. Each site tells you about their girlfriend/wife. Each site charged a “shipping fee,” which may have been their profit center.

UPDATE: And NOW a new guy, “David.” By coincidence, a friend of ours saw an ad placed in the toolbar of his Yahoo mail account. It was a text ad that said, “I Got Fired, Now I’m Rich.” Out of curiousity, he clicked on it and was sent to David’s Quick Cash. Same story, same $5,000 check dated on October 25; he even has the same black Range Rover as “Scott” does.

(original content from http://www.richdogmillionaire.com/)

Technorati Tags: Add new tag, Adsense, David's Quick Cash, davidsquickcash, Google, Josh Made Cash, joshmadecash, kevin makes dough, kevin makes green, kevinlifeblog, review, scam?, Scott's Money Blog, scottsmoneyblog

Well, it’s now past midnight in most of the world and no devastating activation…so far…

Technorati Tags: "The Internet is Infected", 60 Minutes, Add new tag, April Fool's Day computer worm, computer virus, Conficker, DownAdUP, virus

We’re currently reading the book, Click, by Bill Tancer, which we will review here shortly. But we wanted to mention a very interesting statistic that Tancer includes in his book, which you may want to keep in mind, as you build your online business. Basically, the more it costs to sign up for a dating service, and the longer the registration/survey process is, the more that site skews toward females. In order to skew back towards males, a site has to offer the ability to surf/browse photos without having to join or register. The psychology behind this, as you might expect, is that females are more interested in relationships, and the quality of potential partners, versus guys — who wanna see the pics. Tancer’s book contains a lot of other insights,  which we will blog about as soon as we finish the book.

Technorati Tags: Add new tag, Bill Tancer, Click, Hitwise, internet dating, online dating, Sex, Traffic Building

 Hi, we’re glad you found us.

There sure is a lot of crap out there.  It’s really like the wild, wild west  – there are good guys, bad guys… and some ugly stuff. We’ve been looking for a forum — a haven – to catch our breath and get some halfway decent, uncensored, unedited information. So welcome to our little dive bar. Pull up a chair, grab a drink, and feel free to get in on the conversation.

We have some very good bloggers lined up. Guys who’ve been there, done that, and are willing to talk about it (anonymously if necessary). We have no rigid structure here. We are not sure which direction we will be going in. As you know, the internet moves very fast: yesterday is like last year. You’re gonna want to check back often.

Technorati Tags: Add new tag, how to make money, How to make money online, Introduction to Rich Dog Millionaire, Make money, Make money from home, Make money online, Ways to make money

You may have heard this before — it’s the mantra of the “new rich,” the advantage of a truly global economy/life. Tim Ferris is an expert on it and discusses it in his book, which we reviewed. What this means is that most people live on the same currency, a sort of “one-dimensional” existence, so to speak: you make X US dollars a month, you live in a place that charges you X US dollars a month, and you pay your employees/contractors/etc X US dollars a month. But let’s say you still made X US dollars every month but instead of living in a medicore apartment for $1,000-$2,000/month, you lived in a beachfront house  in Mexico or somewhere in South America for less than half of what you pay for your current pad. Further, let’s say you outsource labor, using a personal assistant in India, like Ferris explains. Suddenly those US dollars you make are worth a lot more. It’s like you’ve tripled or quadruped your income. Instead of waiting until you’re old to retire and travel the world; you can do it now, as a life. You just have to figure out how to make those US dollars keep flowing in (and that’s basically what this site is about)… BTW when we say dollars, rupees , and pesos — they are just examples to illustrate the point. (When we were writing this post, our friend insisted we say Euros instead of dollars.) And who knows, maybe dollars will eventually be the new peso, the way things have been going.

(Original content by www.richdogmillionaire.com)

Technorati Tags: Add new tag, Get Paid in Dollars, how to make money, Live on Pesos, Make money, Mexico, money, New Rich, Outsourcing, Pay in Rupees, Rich Dog Millionaire, Timothy Ferris, Travel, Ways to make money

Well, here goes: our first post with embedded video. This is an astonishing video that shows we do indeed live in “exponential times.” Amazing stuff. It took radio 38 years to reach a market audience of 50 million; it took TV 13 years — it took the internet 4 years and Facebook 2 years!…1 in 8 couples married last year met online…China will soon be the number #1 English-speaking country in the world…The top 10 in-demand jobs estimated for 2010 did not even exist in 2004…If MySpace were a country, it’d be the 5th-largest in the world (between Indonesia and Brazil)…

BTW, yes the opening titles of the video look like the type-style of our blog but it is a nice coincidence. Maybe it means we’re all connected in these “exponential times.”

Technorati Tags: Add new tag, BMG, Brenman, China, Did You Know 2.0, Did You Know 3.0, Did You Know??, Facebook, Fat Boy Slim, Fatboy Slim, Fisch, Globalization, history of Facebook, history of MySpace, history of radio, history of the internet, India, Jeff, Jeff Brenman, Karl, Karl Fisch, Meeting in Rome, MySpace, Scott McLeod, Sony, Video Posts, YouTube

Here’s a nifty tool you can download for free: PPC Web Spy. When you activate the tool and do a Google search, it shows you the Adwords the advertisers are bidding on, including info on position, average cost per click, clicks per day, and cost per day. It also reveals the actual destination URL for each ad and identifies which advertisers are affiliates. You need the Firefox browser in order to download the tool. And if you like it — we do — you can upgrade to a Premium version.

Technorati Tags: Add new tag, Adwords, Google, Google Ad position, Keywords, PPC Web Spy, Rich Dog Millionaire