Posts from — August 2008

During my last coaching session call (yes, coaches need coaching too), my coach Christian Mickelsen provided direct help to a few members of our group and made some recommendations about books to read and concepts to familiarize ourselves with.

One of the topics of the group discussion was the issue of marketing. I admit that I am still not sure if internet marketing and internet sales will become a significant portion of my business. So far I have produced and posted a lot of content (I hope with lots of value), but I am not really making money from online activities.

One of the participants on the call wondered if the issue with marketing success could be the state of the economy. Christian went on to tell all of us about an article he had recently read. I wanted to make this information available to you, my readers. You find it below with Christian’s and Ken’s approval.

It makes some great points about the economy and its impact on an individual – or lack thereof. Here is what Ken McCarthy wrote:

I’m sure you’ve noticed that everyone today is talking about “the economy” in worried tones.

“Where is the economy headed?” “The economy is up.”
“The economy is down.” And on and on and on.

Commentators look for “signs” about where things are headed. Politicians beat their chests and present bogus solutions. 

Here’s the deal for entrepreneurs:

There is no such thing as “the economy.”

There’s only your market and your customers…and the whole game of entrepreneurship - the whole game - is adapting successfully to circumstances whatever they may be. 

So let’s face the Big Fear and get it out of the way right now:

A deep recession, or even worse a full-fledged Depression.

*** Can the worst happen?

Sure it can and all the “rah rah” guys who are telling you it can’t are doing you a grave disservice.

This is reality and in reality ANYTHING can happen and not all of it’s nice. 

Frankly, given the insane misbehavior in the credit and banking industries in recent years, “the economy”
is probably due for more pain.

But at the end of the day, it doesn’t matter if you are a real entrepreneur…and I’ll PROVE it to you right now: 

Let’s look at a really hard case…

The Great Depression of the 1930s.

Over 25% of Americans were out of work. Bread lines.
The Grapes of Wrath.

Total disaster, right?

Traumatic for many to be sure, but 75% were employed. These folks continued to buy goods and services without so much as a hiccup.

Because costs were so low - rents were cheap, salaries were low, material costs were low - it was a great time to start a business.
In fact many of today’s most successful businesses had their roots in those “bad” days.

Just Google “founded in 1930″ and check it for every year of the 1930s. *Millions* of results come up.

For 1937, in two seconds I came up with Krispy Kreme; Kaplan, the test preparation company; Saab, the auto maker; and T. Rowe Price, the stock broker. 

*** The so-called Depression was boom times for many   

During the Depression entire industries experienced explosive growth. “Little” ones like broadcasting.

Now, if you depend on a J-O-B and you have a limited skill set that ties you into one industry, like selling sub-prime mortgages or making gas-guzzling SUVs, you may be in trouble.

But the issue is not “the economy.” It’s never “the economy.”

It’s where YOU are and what you are doing.

Here’s the reality:

No matter how bad things get, they never go to zero everywhere.
There are always big winners in every “economy.”

The entrepreneur’s job is to go where the action is. 

Let’s take an Internet example…

In 2002, you could see the tumbleweeds rolling down the streets of the Internet marketing world.

Practically everyone had bet it all on the banner ad and then suddenly banner ad prices crashed. It was a definite Depression in the Internet advertising world… and many were caught like deer in the headlights.

A lot of people closed shop and left the industry for good.

Then what happened?

At the very bottom of it all, Google came out with AdWords in the spring of 2002 and the rest is history.

As a result, Google, which in 2001 had less net income than I did, is now one of the richest businesses on the planet and they’ve made it possible for countless entrepreneurs to build multi-million dollar businesses.

So for heaven’s sake, stop listening to all the drivel about “the economy” and start paying attention to the Google-sized opportunities that are laying around untouched in every economy.

That’s what being an entrepreneur is all about.

*** Learn how Google does it

Speaking of Google, did you know that Google sent one of its key executives to teach at the System Seminar this year?

Google has a very successful three-legged system to help entrepreneurs make m’oney online:

AdWords (traffic), Google Analytics (tracking) and Google Website Optimizer (testing.)

The System Seminar was one of the very first places on earth you could go to learn the Google AdWords system long before anyone else “got” it. (System grad Perry Marshall who gave that early course went on to become of the top world’s top AdWords
experts.)

Tracking traffic has been a System Seminar topic literally since Day One. In fact, one of the students from our early trainings way back in 1994 was the first online ad rep to provide “clickthrough rate” data to his advertisers.

This year we completed the loop.

Tom Leung, Google’s testing whiz, came to Chicago to show System attendees how to get maximum profits from every advertising dime they spend…using the very same techniques that Google uses when they test.

Do you think Google has a little traffic to analyze?

Do you think they might have a few real world case studies you can learn from?

Tom surprised us several times, especially when he pointed out that some of the things taught by the gurus as “traffic secrets” don’t in fact work at all.

The phrase he used over and over was “I’d like to see their data because our data says…”

I wonder who knows more about traffic and conversion, Google or the latest overnight Internet Wunderkind?

Gotta be the wunderkind, right? After all, look at all the cool cars he poses in front in his ads

Seriously…

If you like to learn more about Ken’s programs or contact him, here is the link:

Ken McCarthy
The System Seminar
www.theSystemSeminar.com

Let’s all look for the opportunities around us, keep an optimistic outlook, a positive attitude, and go forward finding success.

In case you like my help for overcoming obstacles, adjusting your psychology, and developing a plan for your future growth and success, never hesitate to contact me and setup a free introductory coaching session. You can reach me at AM@Meierheofer.net or contact my VA Donna at d.swingley@meierhoefer.net

Axel Meierhoefer, AMC LLC

PS: Download our free report at http://www.meiehroefer.net/special 

PPS: Get your success package at http://www.myperformanceiq.com/secretstruthperformance.html

As a long time member of ‘Live out Loud’ I receive frequent updates from the organization. Many of the things Laural Langemeier teaches and promotes are very true and have shown significant success at AMC LLC.  In one of her recent articles, Laural again touches on 7 steps it takes to create a successful business.

We all know that a credible approach doesn’t work in weeks or months, as some of the MLM folks want you to believe. A consistent approach for 3-5 years is the way to go. If you make it to that point, you have succeeded over 95% of all start-ups.  Laural calls herself a wealth coach. For AMC I prefer the name Performance Coach.

Here is what Laural wrote: As a wealth coach, my favorite definition of wealth is “the act of profuse abundance through the actualization of one’s skills and gifts.” If you think this way, not only are you able to create wealth with the skills you already have, but it’s something that grows and lasts when you do it with a team.Creating new money is a huge component in the Wealth Cycle.

Many of you probably have jobs working for others to earn most of your money. For now,  you should keep your job and start your business on the side. For today’s entrepreneurs who are ready to live the life they want, you can actually make more money with your own businesses if you know what they’re doing. You’ve got to get out there and start exercising your business leadership muscles as soon as possible! Once you get going on the Wealth Cycle, there’s no turning back. Here are some of the key elements that make new business owners successful:

1.  Secret = Seek out mentors.  There’s no need to reinvent the wheel. Whatever your business, there’s someone out there who’s done it – or something very similar – successfully who will be willing to guide you on your path. 
2. Secret = Delegate. To best manage your time, eventually you will need to hand over work to others. Many business owners resist this, and as a result their businesses fail to expand. Since I don’t believe in ‘self-made’ millionaires, using the team approach to accomplish many tasks will accelerate your successes. 
3.  Secret = Market like crazy.  This where I see most entrepreneurs fail. Getting the word out about your business is the only way others will know it’s there. Marketing is a big commitment and needs to be done consistently and on a large scale to really be successful.
4.  Secret = Learn how to sell. This doesn’t mean you need to be overbearing and cheesy, but you do need to know how to sell the benefits of your product to a potential buyer. This could be as simple as just understanding how your product or service outshines your competitors. You’ll also need how to successfully negotiate a sales contract and close the deal.  
5.  Secret = Learn how to lead. As an entrepreneur, you are always managing others and leading them to success. Even if you are a one-man operation, you still need to know how to lead your clients and associates.
6.  Secret = Become an effective self-manager. Successful entrepreneurs know what to do and when to do it. They know how to plan and execute goals, and they make the best use of their time.
7. Secret = Be patient. Lasting success rarely comes over night. Most likely you’ll have to continue working your old job for awhile before you can quit it for your new business.  

There’s a lot of responsibility that comes with running a business, and although anyone can do it, most people are just too afraid. They’re afraid of failure and ultimately don’t want to take on all the responsibility that comes with a new business venture. Knowledge is power. Entrepreneurs take risks—calculated and informed ones that get them the results they want.

Though I agree with these last lines, I want to caution you not to forget to first find out what you are passionate about. Yes, you can find something you think will make you money. During the days when things don’t go the way you were hoping or the expected results escape you, you need to be sure that you absolutely want to do what the business is about. If it is just something you started to make money, you will fin yourself starting over and over.   

There is actually a significant group of people on the internet, some in money markets and investment advice, others in the home business market, who want to tell you that they have been in the dumpster, down to their last few pennies and then the great revelation hit them. They started their business, made millions, and now they work a few hours a week and bring in huge paychecks. Well, I am not saying it never happens, but it is very rare, and those of you who really want to become successful better realize that you need to have a passion, follow it, and stay consistent.  

The 7 Secrects above will help you. I also recommend a good performance coach, as we have them at AMC. Some people say they can’t afford coaching when their business is new. I understand that perspective and know how things are when money is tight. You want to be able to use your maximum performance and realize how to react to all the situations in business you are normally unfamiliar with. With that knowledge you have a much better chance to succeed. Don’t be one of the 95% of businesses that fail in the first few years. Pick your passion, apply your knowledge and believe in yourself and what your coach is helping you to develop. 

Axel Meierhoefer, AMC LLC