Nietzsche, the Business Consultant... the Lazy Man's Way to Internet Riches... the Joke's on Me... and Much, Much More
By Michael Masterson
In today's issue, I tell you why Nietzsche is one of my go-to sources for business advice. Then I explain why thin people can still be fat. I also show you how to exercise your "risk muscles." And how to "outsource" your mentoring. Later in the week... Bob Bly, who runs our Internet Cash Generator program, reveals the words and phrases you should "gravemetrically convey" from your copy. Robert Ringer tells us who you have to fall in love with to be successful. Pro public speaker (and stand-up comic) Peter Fogel tells us a joke that killed at a recent conference -- and it was on me! And, finally, Internet Money Club Director Brian Edmondson shows us one of the keys to making money online: being lazy and unoriginal. -----------------------------------------------------Highly Recommended ----------------------------------------------------- Why Julie Gladly Left Her Six-Figure Job With the help of Brian Edmondson, real estate expert Julie Broad quit her job and started an online business. "As a result of Brian's guidance, I earned $500 my first month, $2,000 my second month, and $5,000 my third month," says Julie. "I'm confident I will earn $10,000 or more every month from now on." Now, Brian will walk YOU though every aspect of getting an Internet business up and running.
"Experts often possess more data than judgment." Colin Powell Several years ago, a professor of philosophy introduced me to an idea I have used to clarify my thinking and make the right business decisions time and again. You may find it as useful as I do. We were having lunch, and the conversation turned to Nietzsche, the German philosopher and poet. I knew a little bit about Nietzsche. I knew he was anti-religion (as we say today) and believed man could perfect himself by self-assertion -- an idea that made its way into the rhetoric of the Third Reich. The professor told me that Nietzsche had many other interests, including classical philology, art, antiquity, and music. But it was what Nietzsche had said about "information" that most intrigued me. According to the professor, he predicted that, with the advent of information technology in the 21st century, secondary knowledge (what we learn from studies, books, newspaper accounts, etc.) would eventually replace experience as the basis of judgment. I had never given much thought to the distinction between primary and secondary and knowledge. Many of the opinions I held -- on topics ranging from global warming to national politics -- were based on what I had read, not experienced firsthand. Since then, I have paid closer attention to the origins of my ideas and the ideas of others. And I am convinced that Nietzsche was right. In fact, I think it's fair to say that his prediction has already come true. And this presents both a danger and an opportunity. What's Wrong With the Way People Think Today These days, most people, most of the time, would rather act on the basis of theoretical knowledge (Nietzsche called it "wissen") than on what they know from personal experience. (Nietzsche called it "erfahrung.") Let me give you an example... I know from experience that when I invest in a business I know little or nothing about, I lose money. Yet I can talk myself into making such an investment if I see a business plan that has amazingly good numbers, superb credentials, and solid testimonials. I put aside the knowledge that is in my bones in favor of the facts and figures in my head. Another example... We know from experience that we can't trust politicians to do what they say. Yet every election year, we vote for the man whose speeches makes the most "sense" to us. There is so much information to deal with. Every day, we get more. And often it confirms our own experiences. We hear statistics about the growth of the Internet -- and we know 10 people who have recently gone online. But sometimes the facts contradict our experience. We are told that the economy is tanking and companies are folding left and right. But many of the businesses I know are doing just fine. When secondary information contradicts our personal experience, we have trained ourselves to ignore our experience. "I must have incomplete knowledge of this," we tell ourselves. "My experience is obviously not typical." Instead of using our experience to judge the validity of facts and figures (which, let's be honest, can be rigged to "say" pretty much anything), we judge the validity of our own experience by them. It's really remarkable. We know how easy it is to manufacture information. And we also know that some people will do almost anything to have their way. Yet many of us never make the connection between the corruptibility of man and the corruptibility of facts. Blunders of the Past Can Save You Money in the Future When I think about bad decisions I've made in business, it is most often a case of my having favored facts over experience. Case in point: A former business partner and I spent a year attempting to succeed with a publication aimed at new mothers. We were convinced -- by the numbers we had come up with -- that it was going to be a huge winner for us. The fact that neither of us had any experience in the industry didn't phase us. The result: We were a quarter of a million in the red before we gave up. Another example: All the direct-mail publishers I know have given advertisers free access to their lists in exchange for a split of the advertisers' net profits. The publishers waive their advertising fees when they see the amazing numbers "other publishers" have experienced "using this very same ad." The result: a much smaller response than predicted by the numbers. (The publishers get little or nothing. But the advertisers have some new leads they didn't have to pay for.) What You Can Do to Make Smart Decisions Most of the Time I'm not saying you should ignore secondary knowledge. Sometimes you just have to make decisions without the benefit of experience. But when it comes to making important personal or financial decisions -- the kind that can cost you plenty if you're wrong -- trust your bones. Here's something you can do the next time you are overwhelmed by the thought of making an important decision. Take a piece of paper and fold it in half vertically. On one side, put down everything you know from experience. On the other side, put down the facts and figures you've been told. Then do this: Tear the page in half (vertically) and toss all those facts and figures in the garbage. You'll then have everything you need to know to make the right decision. Will you ever miss out on a great opportunity? Possibly. But my experience tells me you'll go broke a hundred times before you succeed at something you have no experience in. P.S. How do you get business-building experience... if you've only worked for other people? There is no better way than by starting and growing an online business. The cost of entry is super-low, so you won't risk losing a bunch of start-up capital. With ETR's recently launched Internet Money Club, Class of 2010, you'll find out firsthand what it takes to be a success. You'll learn from your mistakes -- and triumphs. And your learning curve will be slashed, because you'll have an experienced entrepreneur coaching you along the way. Find out more about IMC here. -----------------------------------------------------Highly Recommended ----------------------------------------------------- Need Help Actually Achieving Your Goals? - I write about goal setting all the time. But I can't personally coach you. Bob Cox can. He's the creator of our Total Success Achievement program. Not to mention a millionaire business consultant, record-setting pilot, and co-founder of the original home shopping channel. Find out how Bob can help you here...
Whether you want to lose weight or just tone up, your objective should be the same... to lose fat without sacrificing muscle. Otherwise, you'll end up as a fat thin person. To burn fat without losing muscle, base your meals on a healthy source of protein. And add resistance exercise to your workout routine. Recent research published in the Journal of Nutrition confirms this common-sense approach. Researchers at the University of Illinois divided 48 obese women into two groups. One group was put on a high-protein diet. The other group consumed more carbohydrates. (Both diets had the same number of calories.) Both groups walked several times a week. But the high-protein group added two sessions of resistance exercise. When the study concluded, the high-protein group had lost an average of 22 pounds -- almost all of it from fat. The women on the high-carb diet lost 15 pounds, and more than two pounds of it -- 15 percent -- was from muscle. Dr. Donald Layman, the author of the study, summed it up this way: "Both diets work because, when you restrict calories, you lose weight. But the people on the higher-protein diet lost more weight. There's an additive, interactive effect when a protein-rich diet is combined with exercise. The two work together to correct body composition; dieters lose more weight, and they lose fat, not muscle." For the past year or so, my eating routine has been: 7:30 a.m. - two eggs, one piece of whole wheat toast, coffee
11:30 - protein bar
2:30 - protein shake
5:30 - espresso and one piece of dark chocolate
8:00 - protein (fish or grass-fed beef or organic chicken) and organic vegetables This diet keeps me lean and satisfied. Is Your Fear of Failure Keeping You From Being as Rich as You Could Be?
By Michael Masterson
Most people refuse to set goals. I don't know why. Maybe it seems daunting. Or threatening. Or just silly. But it works. If you set wealth goals, you will increase your wealth. But don't just pull a number out of the air. Be realistic. Start with your income. If you are earning $50,000 a year now, make a decision to earn $60,000 or $70,000 next year. I don't believe in over-reaching. Especially in the beginning. You have to learn how to reach modest goals first. Once you have done that, you can crank up your internal moneymaking machine. But income is only part of the program. You have to set net-worth goals too. Figure out what your net worth is today. (Add up all your assets, and then subtract everything you owe.) Then make a commitment to increase your net worth by a modest percentage every week. To do that, you will need to set two additional goals. You will have to spend less than you are spending now and save more. Becoming wealthy is not much different from becoming physically fit. You start from where you are and train your muscles (in this case, the wealth-building muscles in your brain) to perform better as time goes on. With each small achievement, you gain confidence and skill. Before you know it, you're an automatic wealth-builder. Teach Your Employees to Mentor One Another
By Michael Masterson
If you spend a lot of time training your employees, you may be making a big mistake. Your primary job is to build your business. That includes teaching people what you know. But if you devote too much time to it, your business will suffer. Here's a better way: Teach your best employees what you know. And then teach them how to teach it to new employees. This not only frees up your valuable time, it establishes an automatic mentoring system. And that provides additional benefits: - Every new employee has someone with experience to turn to for advice.
- The mentor feels responsible for the new employee's performance -- and they both learn that responsibility is best when shared.
- For a while at least, a separate pair of eyes will be carefully reviewing the work of every new employee. This should result in fewer mistakes that will need to be fixed later.
- The mentor will probably rise to a higher level of commitment and dedication to the business. He'll take himself and his job more seriously.
Latest News -
MaryEllen Tribby has been crisscrossing the country lately, speaking at conferences, networking, and building all sorts of relationships for ETR. Just last week, she met with Andrew Lock, host of the Web show "Help! My Business Sucks!" He's a brilliant Internet marketer. And, although it's way too early to talk about next year's Info-Marketing Bootcamp, I wanted to let you know he's agreed to be a featured speaker. I'll be sharing more details on next year's Bootcamp in the next couple of months. Stay tuned.
"You hit the nail on the head." "I enjoy reading Early to Rise each morning, as I am getting started (early) on my day. Each issue has inspiration and thoughtful content that I really enjoy. However, the Thanksgiving Day issue was one of your best! You hit the nail on the head with the big and little things we all have to be thankful for. I don't think any of us spend enough of our energies on expressing gratitude to others. Our culture certainly doesn't seem to hold such things in very high regard anymore. It is about time that changed. "Thanks for the daily dose of inspiration and sharing. Keep it coming!" Alan Kisling
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Today's Words That Work: Philology Philology (fih-LOL-uh-jee) -- from the Greek for "love of learning" -- is the study of the development and history of language and literature. Example (as used by Michael Masterson today): "The professor told me that Nietzsche had many other interests, including classical philology, art, antiquity, and music."
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