I Do Make Good Money, But...

It's actually fun to read the threads here about who is
and isn't making any real money online these days.

Mike Hill pointed out in one thread that a lot of people
who appear to be doing well, maybe aren't.

Personally, I don't get overly concerned about that and
know that it really is hard to tell, and also know that
even the most successful experience cash flow issues from
time to time. My friend Rich Schefren taught in one of
his courses that failure to manage your cashflow will
absolutely KILL many businesses... and that's true.

Businesses experience cycles... ups and down... so it's not
unusual for those who were doing well to experience
downturns. Not saying that has happened to anyone
specific... only that this economy is kicking some butts

Donald Trump struggled, and I have a personal friend
who recently woke up one day tens of millions richer
... due to a bankruptcy filing!


Cashflow and timing

When I was a mod here, I use to carry on a lot of private
conversations with some VERY successful Warriors, and
the wealthiest ones do usually keep quiet. Most of the
ones that I discussed it with also didn't make their
fortunes selling get rich quick information.

Here's MY secret though...

I acknowledged one day that reward is often directly
proportional to the risk that you are willing to take.

In other words, the riskier an investment, the higher the
potential return. It has to come with a higher "interest
rate" in order to attract money away from safer investment!
That's basic economics... equilibrium theory.

I admittedly am a gambler, although I usually stay away
from casinos. I take calculated risk, after gathering
as much data as I can, and... some pay off and some don't.

Entrepreneurs take calculated risk, make tough decisions,
and often discover that it's NOT as easy as they thought
that it would be.

We make mistakes... miscalculations!

The unreasonable ones.. and the stubborn ones, like me
simply WON'T give up!

If you're "like me" and you keep at it, hopefully you make fewer
and fewer mistakes over time, and your winnners outnumber
your losers.

I roll out products FAST because I don't know which ones
are going to be winners, so I've learned not to invest
TOO MUCH in them upfront. Once it's obvious that one is
going to be a winner, that's when you really turn up the
heat. I have friends who operate EXACTLY the same way.

On the other hand, if it's someone else's product, I
dont' touch it until it's already starting to prove itself
a winner. With so many choices, why would I do otherwise?

I also do things that DECLARE that I'm one of the big dogs,
and in a way, BUY my way into that category.

Examples:

1) I attended my first seminar EVER in December 2002.
In April 2003, I stepped onto the stage as a seminar host
and promoter.

Of all the things that I've done online, I find just
getting people to get off their butts and travel to a live
event VERY difficult. That's why I now only host very
specialized, higher-end events.


2) I used a private label version of the 1ShoppingCart
system in 2003, and decided that I wanted to make a
"fairly substantial" investment for the right to create my
own private label a few months later. I crunched the numbers
and calculated how many sales I needed to make in order for
my income from being a private labeler to equal or exceed what
I could earn just from being an affiliate.

However, that was only part of the calculation, because to
me... being able to refer to ProfitAutomation.com as MY
shoppingcart system had some value... in branding me as one
of the big dogs. So, I bought that title.

3) I've done similar things a dozen other times, with the
most recent one being that I BOUGHT a web hosting company
back in December 2010.

It's obvious to casual observers here that everyone from
your local newspaper to giants like GoDaddy and HostGator
are in the web hosting business... and have deep enough
pockets to buy Super Bowl commericals.

Web hosting IS a commodity, and it's a very tough business.
So, why would I step into that minefield?

I'm an entrepreneur, and it's what we do.

My local Glazer-Kennedy Insiders Circle group is comprised
of people like me... serial entrepreneurs... people who love
starting and building new buinesses. People who actually
seem to enjoy the risk... and the reward that we sometime
find.

I'm in GKIC because regular people don't understand us... we
need to network with, and build our businesses by hanging
around others who DO get it!

Less that 5% of the population are as entrepreneural as we
are. Regular people seek security, and prefer working for
others. We're crazy

Yes, I do ok, but I'm an overnight success after 15 years,
I have put in many 18-hour days, I have made mistakes and
had projects totally FLOP, so if anything... I'm proof that
for most of us, it's not easy... but possible.

It's something that you see that you really want, and you go
get it!

Willie