Chapter 2: Key Concepts behind This
Book
In this book, you will learn all about the following:
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The type of mentality one must adopt if they ever want to break out from the rat race!
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How to turn your skills into your greatest assets!
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How to pick a business model and apply your skills to it!
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How to invest merely 4 hours a day and be able to quit your job or fire your boss… within 6 months!
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Lots of resources to get you started IMMEDIATELY!
Working Part Time with A Full Time Mentality
One of the biggest reasons why people fail at Internet marketing (or fail to break out of their rat race) is because of a flawed mindset towards Internet marketing.
Yes, it is true that you have to spend the remainder of the hours you have left after work to work on your business part time. But that does NOT mean that you will adopt a part time or half-hearted mentality towards your business.
Imagine this analogy…
Let’s assume that an airplane takes off at 150MPH. You will need to ‘drive’ at a certain speed before the plane develops enough speed to take off. Do you think the plane will be able to fly itself off the ground if you are only traveling at a 100MPH? Of course not! It will not take off even if you are flying at 140MPH!
Internet marketing is just like this. You will need to work at a certain momentum before you:
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Develop the necessary knowledge to build your business (you can’t really ‘drive’ far if you are constantly locked in 2nd gear).
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You need to show others that you are committed enough before they are ready to do a joint venture with you (after all, no one wants to JV with a half-hearted marketer – especially if they know that you are not constantly available).
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You need to build your reputation strong enough because it will lessen your
promotion work – the speed of trust between you and your customers is very crucial.
The Art of Building Assets Online
When you are building your business online, you must be able to build assets if you want to quit your job. Allow me to explain:
A 9-5 job is only short term income. It can be a lot or a little, but fundamentally it is still short term… Why? Because the moment you stop working, you stop making money immediately!
Your boss may tolerate your laziness for a few days but if you don’t put in the hours, you will never get anymore pay whether it is weekly, daily or monthly pay!
If you keep on trading time for money, you will never be free from your job!
Online assets are different. Here are a few principles that you can apply to your online mentality:
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Leveraging on the Internet: You can draw in traffic from search engines or viral marketing.
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Leveraging on other Internet marketers. You do not need to build a mailing list if you have created a fantastic product that will keep customers buying and affiliates selling over and over again.
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Leveraging on your mailing list. The money is definitely in the list. It takes 15-30 minutes to write a proper E-mail to your mailing list. The great thing about E-mail marketing is you will take the same time to mail your list regardless if your list has 100 people or 100,000 people
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Leveraging on your reputation online: A blogger may start with no RSS subscribers, but the more you blog and the more you network, you will be blogging for the same effort but with more people reading your blog (and you will be able to monetize from the traffic!)
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Leveraging on outsourced work. If you are making good money, you will be able to outsource your work to other people and spend more time on marketing your products (hence, making more money!)
Take a look at this graph for example:
Let’s take a look at a typical Internet Marketer…
The blue line is your 9-5 job. You may get increments and bonuses (hence the rising graph and your salary will most definitely exceed your online income in the first few months, but after awhile, when your online assets start generating residual income, you will be able to quit your job once you have all the elements in place.
Investing Into Your Assets through Outsourcing
Not everyone can do everything at once. Even if you are proficient at all the tasks (albeit a master of none…), you will still need to outsource from time to time as the need to create more and more assets should NOT be limited by your time alone but by creating more through leveraging on other people’s time.
Remember this principle; the sum of the whole is more than the parts combined.
You may outsource certain tasks like writing, graphics or SEO services, but ultimately you must develop a goal (using a proven business model) that will piece everything together and synergize.
In the next chapter, we will explore a little on core competencies which is also related to outsourcing in general.