Wealth and Wisdom

When we get buried in the day to day, we often forget what we’ve accomplished and learned. It can seem like we are standing still, especially when you haven’t achieved one or more of you major goals. This is one reason why it is so important to do periodic reviews. It’s also one of the magical things about heading into New Years, as this holiday tends to make us think back over our previous year and forward to the next.

Looking back, 2009 has been a roller coaster

• New government which has created a ton of strife. New regulations and laws looming that will change the face of this country (I’ll leave it to you to decide if it’s for better or for worse!)
• The economy degraded even further, and any recovery we’ve seen has been limited at best.
• The budget deficit has exploded as government spending has reached record levels.
• The dollar is plummeting.
• Housing sales are slow, there is a glut of foreclosures in the system, and a new wave of foreclosures is on the horizon.

All of this change will impact our lives. We have a choice on whether we will sit back and let life push us this way and that. This will test us, and while it will be challenging, it will also present some of the best opportunities we’ve seen in decades. It is our choice whether we are full of fear or hope, see crisis or opportunity, excel or drown in the turmoil.

Wealth and Wisdom has had quite a year

OK, maybe not the blog itself, but our life has been pretty full. From vacations to job changes to business launches, we’ve had a full and eventful 2009:

• Wrote a book about hacking your college degree: This alone has been an amazing trip and we’ve learned a lot. Marketing, Adwords, copywriting, writing and editing, web site design, setting price levels, list building….You get the picture!
• My JOB: yep, I still straddle being an employee and an entrepreneur, somewhat because we are not ready to go full time, mostly because I’ve enjoyed what I’m doing. This part of my life has been an event. 2008 I was the number one salesman in my company. 2009 I was number three. Since there are between 300 and 400 salesmen…this is a big accomplishment. But it hasn’t all been positive. My company reorganized and we spent six months wondering about how our jobs would change. I said goodbye to several good friends as they took opportunities with our competition. I’ve dealt with red tape and bureaucracy that drives me crazy.
• We’ve taken three amazing vacations: one a cruise in South America, one a Mediterranean cruise, one a trip to St. Maarten. Wow!
• We’ve found internet based business to be extremely challenging and frustrating. On the surface, it should be easy. We’ve started and run several successful brick and mortar businesses. I’ve run and managed a couple businesses. I’m one of the top salesmen and an acknowledged expert in my industry. But internet marketing requires a different skill set. It’s taken a while, but we’ve pretty much finally figured it out. Now it’s time to apply what we’ve learned.
• Started exploring other business opportunities. I’m a firm believer in having multiple businesses in place, especially if you can automate / outsource them and create passive streams of income. One business didn’t work, but the basic model is fantastic. We just need to find a better product. The other model is being developed and is looking like it could be a blockbuster. Remember how I said we could chose whether to see opportunity or crisis? I chose to find solutions to a major problem and create a business.
• Wealth and Wisdom has been stagnant. Two years ago we had grand plans for Wealth and Wisdom, but we never acted on those plans. Instead it has wandered along and almost become an outlet for my thoughts and a journal of my growth as an entrepreneur.
• My racquetball game has improved and I’m close to leaping to the next level. While I’ve had some ups and downs, much of that is having to internalize strategies and skills, which cause me to think too much and not execute. Perhaps most importantly I’ve discovered that I don’t like playing in extremely competitive venues. Not because I’m not capable, but because I don’t enjoy it. I find it brings out the worst in people and that isn’t why I play.
• Our son turned 16. Need I say more?

Coming up in 2010

2010 should be an eventful and profitable year. As we bring our businesses on line, as we learn and grow, we will share it with you. This includes our view on the changes to our government and economy. Don’t worry, we aren’t going political on you, we’ll be focusing on what to do to protect yourself and find the opportunities.

We’ve also finally defined our customer (Wealth and Wisdom), figured out our niche, and what our focus needs to be. Don’t worry, you’ll still see posts ranging from personal development to education to sales to business to personal finance. Wealth and Wisdom will still be a journal of our journey to entrepreneurship, and how we used our businesses to create freedom, wealth, and life balance. It will just be better defined and on purpose.

The other day my wife and I were going through our business expenses. While this is a regular activity, this time we were challenging assumptions and looking for creative ways to cut costs while maintaining (or improving) our level of service.

One area that came up was our monthly payments to Aweber. When we first started out it seemed like an easy way to get started. One month for free. Only $20 per month until you really got things going. And compared to the other options we looked at it was a bargain. Heck, the autoresponders we looked at ranged from $497 to $1500. Ouch!

We looked to the “gurus” for advice, and the consistent answer we saw was “go with Aweber.” Let’s see…it’s cheaper, it’s easier, and the experts say use it…It seemed like a no brainer.

Flash forward two years

After a couple years we are reexamining our decision. First, it didn’t take us long to bump up against the lower cost ($20 per money) limits of 1000 subscribers. Since the 1000 subscribers is based on all of your lists combined (and we have quite a few), it didn’t take us long before our monthly fee went up significantly. Even if you were able to stay below the 1000 subscriber limit, your costs are $240 per year. At this rate, stand alone options start looking pretty good.

We started searching for stand alone options and examining the major services. We initially thought this would take a few hours, but boy were we wrong. It took us tens of hours, and could have easily expanded if we checked every program and script out there.

As this unraveled, we started to look at if from multiple angles. In our personal case, we had two business models that needed to be addressed. And as a service to our readers we expanded our review to other business models as well.

• Small / personal bloggers
• Business bloggers
• Hybrid blog / internet marketer
• Internet marketing
• Offline businesses with an online presence

Each has it’s own needs, and unless you spend a ton of money, not any one product works. In our case we needed two separate tools (I’m doing our final test with this blog post).

Over the next few weeks I’ll be writing up complete reviews on each product and service. In most cases I’ve actually installed and tested the product. We are also looking at packaging specific products with tools to make implementation easy.

Yesterday I reviewed Dan Boudreau’s book RiskBuster: Start or Grow Any Small Business, Wherever You Are With Whatever You Have, Right Now! Overall I was impressed with how Dan managed to go in depth while making the book easy to read. I was also impressed with the tools and forms that accompanied the book.

If you’re thinking about starting a business or getting serious about growing a business you already own, I can tell you this – no matter what your area of expertise, this book will give you the skills and confidence to make success happen!.

“This powerful, practical book shows you how to get onto the road of financial independence and then step on the gas.”

Brian Tracy – Author – “The Way to Wealth”

RiskBuster will empower you to tap into your entrepreneurial potential to build a thriving, profitable business venture. This step-by-step RoadMap makes it easy to research your business ideas, to determine feasibility, to write business plans for any purpose, and to start or grow your business confidently—even if you’ve never done any of these things before.

This is a Special Offer to you: When you buy the book today, you will be given access to over $1,000 in gifts from business experts like Rick Frishman, David Hancock, Jody Gabourie, Joanne Victoria, Warren Whitlock and Dr. Joe Rubino! But you have to buy it today!

To order your copy now, go to http://www.riskbuster.riskbuster.com

PS Take full advantage of this 24-hour Bonus Gift Offer and forward the link to your entrepreneur friends!

The other day I was asked how I could have the highest sales in the company yet I had the fewest quotes in our system.

There are two winners in any contest: the person who takes first place, and the first person to walk away.

Some people view sales as a numbers game, where the more projects you quote the more orders you win. They indescrimantly throw their time and resources after all projects. Most of these guys stink at sales and their numbers (and commission checks) reflect it!

My approach (and that of every high performance salesman I’ve met) is to focus on the winners. We pick the promissing projects and put all our resources into winning. We know that our time is precious. Unless an activity moves a key project closer to an order, we don’t waste our time!

People who know me well are familiar with my views on college. I am a huge believer in obtaining your education, and have seen first hand the impact this can have on your career or your business. I’ve earned two bachelors of science degrees working full time with a young family, and my wife has earned her bachelors of science in business while being a full time mother. I’m not bragging, I’m just making it clear how much I believe in college education!

I also am not a big fan of the traditional college experience. When you look at the cost it is hard to justify. This is both for adults going back to school and for our children. If you follow the traditional college path the costs are staggering, and the traditional college lifestyle is not what most of us are looking for. Colleges are infamous for their party lifestyles and for indoctrinating our children in belief systems that often run contrary to ours.

You gain little by going to an elite school

While studies have shown that an ivy league education will result in higher lifetime earnings alternative research disputes these findings.

Researchers Alan Krueger and Stacy Berg Dale questioned whether it was the school or the student that created the improved earnings. What they found was that it was the smarter, harder working, and better motivated students that got accepted to elite schools. When compared to similar students who chose to attend state schools there was minimal difference in earnings.

In other words, that elite education just costs you more with no gain in results (private colleges cost an average of 2.3 times the cost of state colleges).

Why you need a degree

Most of us realize the profound impact education has on our careers. In fact, this is the number one reason adults go back to college. How much of an impact does your education have on your career?

Having a Bachelor’s degree makes you three times more likely to keep your job while earning you 230% more money. Add to this the (often) better working environment and you have a pretty compelling case.

Then reality sets in

Earning your traditional college degree is expensive and hard:

• The average in state (public) degree will set you back $57,332. That comes up to $14,333 per year. Ouch!
• Time requirements: 4-5 hours per week per credit. Even if you go part time it will take up 24-30 hours per week.
• Lack of flexibility: traditional college requires you to go to class at their convenience. If you work full time this can create problems.
• The time it takes to earn your degree: traditional college (part time) will typically take you eight years to earn your degree. At that rate your be retired when…

We needed to find a better way

These were all challenges I faced as I was nearing the end of my military career. I knew I needed to earn my degree, but there was no way I could go the traditional route.

Along the way we ran into a lot of scams. I’m sure you’ve seen them – send us a check and we’ll sell you a diploma. Right…Let me see, you will sell me a PhD based on life experience…

We also ran into a lot of legitimate schools that were not friendly to adult learners. Some required you to spend time on campus (one required three weeks each summer). Others required you to take their classes which were expensive. Others just cost too much money.

It took a lot of research, and I made some mistakes, but I eventually found a way to earn my degree quicker, easier, and for much less money. As I earned a second degree – and helped my wife and friends earn their degrees – we fine tuned our process, tools, and tricks.

It wasn’t until a friend asked “how do you do it…”

Except for helping a few friends and family, we pretty much kept this to ourselves. It wasn’t that we were trying to keep it a secret, it was just that we didn’t think anyone else would be interested.

Then we started our son on our program. He was 15 and wanted to get a jump on his college. His plan was to earn his bachelors in business by the time he was 17, and then go to Texas A&M for his MBA.

Several friends saw what we were doing and started asking question. It quickly became apparent that no one was aware that there were better ways to earn your degree.

We created Education 2.0

For the last few months we’ve been putting all that we knew into a system. After two rounds of beta testing we are finally ready to role out our program.

Our goal was to make it easy to earn a four year degree:

• Accredited: you need a real degree that will be accepted by employers and colleges.
• Fast: you don’t have years to waste.  4+ years is way to long for most adults.
• Flexible: earn your degree on your own schedule working around work, family, and your personal life.
• Affordable: you should be able to earn your degree without taking out a second mortgage!
• Easy: we supply the roadmaps, tools, tricks, and techniques. All you have to do is study and earn your degree.

As a bonus to our Wealth and Wisdom readers, for the next two weeks we are offering 50% discount. Just type “wealthandwisdombonus” (without the parentheses) into the discount box at checkout!