Posts tagged ‘How to make money online’

Book Review: “The 4-Hour Workweek: Expanded & Updated” by Timothy Ferriss

January 4th, 2010

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)

Technorati Tags: , , , , , , , , , ,

A Lesson From “The Twilight Zone”

January 1st, 2010

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)

Technorati Tags: , , , , , , , , , ,

New FTC Guidelines for Bloggers, Others

December 1st, 2009

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.

Technorati Tags: , , , , , , , , , , , , , ,

“Internet Has Only Just Begun, Say Founders”

April 23rd, 2009

The founders of the internet say the web has really just started and hasn’t reached its potential: ” Just 23 percent of the globe’s population currently uses the Internet…” That a lot of potential.  Right now only five percent of Africans surf the web. Access is expected to grow substantially with the increase of mobile access, as people will no longer need a computer to get to the internet.

Robert Cailliau, who developed the internet  in 1989 with Tim Berners-Lee, said he is surprised that search engines can still sort through all the data. But, of course, that is what makes the WWW so powerful — it’s the opportunity Google saw and ran with.

Once again, facts and current events like this make us think: What opportunities are out there? If only 23% of the world population is on the internet, what businesses can be built based on the needs of the other 77%, once they get online? Is their an angle here?

Technorati Tags: , , , , , ,

Zappos.com: $1 Billion in Sales

April 18th, 2009

This week The Economist magazine has an interesting article on Zappos.com, the online shoe store that is branching out into other products. Computer Science graduate Tony Hsieh started the company in 1999 and last year it rang up sales of $1 billion. Zappos is distinctly different from many online stores in that it is decidedly not so automatic (as opposed to the Amazon model). Hsieh once described Zappos as a “A service company that just happens to sell shoes.” Job interviewees are asked who their favorite superhero is. New employees are given an option to quit for $2,000. All this to weed out those who are not committed to the wow-service culture of Zappos.

Again, this is an example about finding the edge and the niche. While most internet wags harp about the greatness of automation and working as least as possible (Rich Dog Millionaire is guilty as charged here), other guys are going out and making a billion dollars by essentially doing the opposite. Hsieh is building a brand that he can expand into other areas, not unlike Richard Branson’s Virgin Group.

Technorati Tags: , , , , , , ,

The Mathematics of Internet Gurus

April 16th, 2009

As you know, we have purchased and reviewed many internet business ebooks and related materials. Naturally, we are on a lot of email lists. It’s a good way to stay up on what’s being hawked out there, even if it floods our inbox. But as we get these emails, with their clever (or irritating) subject matters, we are always reminded of the mathematics involved. To wit, if you — or your “good buddy” — really are making $25,786 per month with your “fantastic, unbelievable product,” why the hell are you telling us about it? Why don’t you take your great idea for yourself and multiply it? Eh??  Or is it possible — could we perhaps assume — that you are making most of your money telling us about it — selling it to us. Forgive us if we hesitate to send you our $99 even “If this deal won’t last!”

To be sure, there is some valuable material out there, as we have written about. But even with some of the good stuff we wish: If only this guy had spent as much time writing the actual material as he did with the sales pitch for it.

(original content by www.richdogmillionaire.com)

Technorati Tags: , , , , ,

Book Review: “The Home-Based Bookstore” by Steve Weber

April 14th, 2009

Author Steve Weber begins his book, The Home-Based Bookstore, by saying: “Selling used books on the internet is one of the greatest opportunities available to small entrepreneurs today.”  Weber has sold over $1 million in used books to customers in over 30 countries. You can start small, making a few hundred dollars a month, maybe beginning with books on your own shelf; and you can grow it into a full-time business. First, Weber tells you where you can find used books, and he explains what kind of books to search for — versus the types of books to avoid (i.e., fiction mostly, especially books that have been best-sellers since, obviously, there’s a lot of copies out there). He then goes into where to sell your books. Amazon, of course, is on the list. If you go to a book detail page on Amazon, you will see an option to buy a used copy of the book. Here, booksellers of all sorts sell their wares. Abebooks is another major marketplace. (You can also build your own site.)

Weber teaches you how to price the books, inventory them, and manage your business, from sales to fullfillment, to customer service, and — one of our favorite topics — advanced automation. There’s an interesting chapter on collectible books (people are looking for first editions). Robert Chamber’s 1939 classic “The Big Sleep” currently goes for over $12,500.

The Home-Based Bookstore: Start Your Own Business Selling Used Books on Amazon, eBay or Your Own Web Site

(reviewed by www.richdogmillionaire.com)

Technorati Tags: , , , , , , , ,

A Website for Young Ladies and Sugar Daddies

April 13th, 2009

New York Times Magazine has a feature story about the dating site, SeekingArrangements.com, where young ladies can find sugar daddies and vice versa.

“The site now claims more than 300,000 registered members… Sugar “babies” outnumber daddies 10 to 1…providing what one sugar daddy called “the best fishing hole I ever fished in… About 30 percent of the arrangements on the site involve the daddy paying an “allowance,” usually a thousand or two a month, though the site claims some reach $10,000. The rest provide the baby with incidental cash, shopping sprees, gifts, travel or the fleeting illusion that theirs is a high-end, easy life. “I get flown to whatever city I want,” wrote a North Carolina college student…” 

Twenty-two-year-old Mercedes says: “I could go out and work three jobs and still go to school and probably make decent grades, but is that really what I want to do? I make more money this way, and I have a lot more fun.” For the babies, it’s free to join; the “daddies” pay $44.95/month (plus an optional $5/month for discreet charges on the credit card statement). A sugar daddy can become a Diamond Club Member, where his income and net worth are verified, and his profile is featured on the home page. Full story here.

Sugar Daddy Site

Technorati Tags: , , , , , , , , , , , , , ,

“Doubling Sales Every Month”: The Big Growth Industry

April 12th, 2009

As the population ages and babyboomers enter their older years, marketing to and for this group is a BIG growth business/industry. Internet Retailer magazine reports that Parentgiving.com has been doubling sales every month, even without much advertising or promotion.

Technorati Tags: , , , , , ,

Rent Out Your Stuff Online $$

April 9th, 2009

This morning we posted info on Live Deal, which is an eBay-type company that focuses on local business. A buddy reminded us about Zilok — “the online rental marketplace” — where you can rent (or for our purposes, rent out) just about anything: tools, electronics, appliances, cars, vacation homes… you name it.  This is actually a very exciting website for us. First, it suggests yet another business angle for the internet; second, it’s another marketplace for anyone to make money. Jeff Boudier, the General Manager of Zilok in the U.S. (it is a Belgian-based company) explains how the system works on the NBC San Diego Youtube clip below. He says that 80% of everything you have is, on average, used less than once month. A power drill is used, on average, only 12 minutes during its entire lifespan. So why not put items like that to work and rent them out. It’s a novel — and obvious — idea. Zilok charges a commission based on the rental cost.

Technorati Tags: , , , , , , , , , , , , ,