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Friday Podcast: To Be Smart Or Rich?: The Internet Marketing Truth

Would you rather be a smart Internet Marketer? Or a rich one?

You might say you’ve chosen one path, but your behavior might be leading you down the other.

Check out this week’s Friday Podcast for details.


Rich Guy Or Smart Guy: The Internet Marketing Truth

And the audio download:

Notes follow after the “more” tab:


There’s an untruth being spread around that’s responsible for many marketers not being able to generate more income than there’re already making.

And that has to do with the fact that “You need to know everything”

Are you spending 4-6 hours readings blogs and forums every day.

Goal: Get smart.

Belief: Being “smart” will make you wealthy.

No idea how this has come about, but I suspect that one of the guys who launch a new product every month has something to do with it.

The Straight Truth About Being Smart.

You’re “smart” if you:

  • Reads lot of forums, google news, blogs
  • May visit multiple times a day, hitting refresh repeatedly every visit in the hopes that a new post will appear
  • Collects ebooks, copy and paste forum posting
  • Might have more than 100 blog comments on his or her favorite blogs
  • Probably has more than 1,000 forum postings on their favorite forum

Let’s look at smart guys out there.
Scientists and college professors. probably earning $50-60k a year.

If doing well, 80-100k.
Verdict: not too bad.

The Start Truth About Being Rich, it’s likely that you:

  • Take action
  • May not be up to date on which country America has just sent it’s troops into
  • Are more familiar with the date of the next affiliate summit, SES, ad:tech or pubcon. than the date of the next presidential election
  • See that traffic is something measured by clicks, rather than cars and motorcycles

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If you fall into the smart category and you’re happy being smart, rather than rich, just go ahead and continue doing what you’re doing.

You’ll become real smart, real soon.

But if you want to be rich instead, here’s a couple of points
-
Get Rich Checklist

  • Be very clear about revenue generating vs non-revenue generating activities:

If you’re not going to care about your business, nobody is.

  • Spend more time doing, than reading: Spend at least twice as much time doing (even when you’re starting out) as you study.

Experience is a better teacher than any book or DVD could be.

  • Network effectively: Find mentors, people who know what they’re doing. If you’re forming a mastermind with guys who are equally clueless, you’re not only going be less smart, you’re going to be poor too.

Like they say, actions speak louder than words.

Go forth and prosper.

5 comments on Friday Podcast: To Be Smart Or Rich?: The Internet Marketing Truth

  1. Andy
    December 16, 2007 at 4:05 am (4359 days ago)

    Good reminder, Andrew! But to be honest, sometimes it’s not so easy to figure out the difference between revenue-generating activities vs. knowledge-building activities. =)

    This is especially true for someone who hasn’t reached that magical $100/day affiliate income (or whatever amount one considers a milestone)…meaning they’re still not quite sure what really works and what doesn’t, and thus a lot of activities are in neither category to them. At this point, every activity is a potentially revenue-generating activity!

    Like you said, the solution is to take action, and I guess by experience, which means testing and losing some money along the way, we begin to prove to ourselves little by little what strategies actually leads to income generation (rather than income depletion). And those are the activities we need to remember and do more of!

  2. Andrew Wee
    December 16, 2007 at 10:56 pm (4358 days ago)

    Hi Andy,
    There’s not much magical about figuring out revenue generating vs non-revenue generating.

    If what you’re doing is not directly going to bring income into your affiliate or paypal account, then you need to prioritize the other tasks.

    Business-building tasks include: launching new campaigns, creating new products, offering upsells or related offers to your list.

    Any other activities should be moved to your downtime, as it doesn’t directly build your business.

  3. Greazster
    December 18, 2007 at 12:44 pm (4357 days ago)

    Excellent Video Andrew!

    I follwed a link from another markter’s blog that I trust that lead me straight to this post in your blog.

    Basicly, wrapped up short.. your video explains that implimenting 5 cents of knowledge is worth more than hording and cramming 500 dollars of knowledge.

    Sadly though, I think many of us do waist alot of time trying to find “THE ANSWER!”

    FYI, you’ll be happy to know that I now have another rss added to my “blog reader”! (and I dont have many feeds on this subject matter)

    I apologize for the long post, specially since it is my first one.
    But I would like to leave my own quote here.

    (I am a mechanic by heart and have a passion for the automotive industry, so my thoughts on everyting usually turn into something along those lines)

    “Got a shiny, new, super charged small block under the hood, huh! But what you gunna do with it?” – Johnathan aka Greazster

    (hopefully yall will see how this fits here)

    Any how, once again sorry for the long post….

  4. Multi channels
    December 26, 2007 at 1:13 pm (4349 days ago)

    Hi,
    Affiliate marketing is one the best and easiest ways to earn money online. That is why; it is no wonder that the number of affiliates is growing by the minute. Because of this, the competition to attract buyers and sell products cannot get any stiffer.

1 Pingbacks & Trackbacks on Friday Podcast: To Be Smart Or Rich?: The Internet Marketing Truth

  1. A Collision Course For Failure
    December 18, 2007 at 9:56 am (4357 days ago)

    [...] you don’t need to know everything to gain some success online. Check Andrew’s Podcast To Be Smart Or Rich? The Internet Marketing Truth. Andrew goes over almost exactly what I want to put into this paragraph, but it’s just as [...]

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