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Building a Business – Proper Focus

Going through my notes from studying the NitroBlueprint – an excellent internet business building course I purchased last year – I came across this timely quote about focus:

(referring to a business model of putting up 10,000 junk web pages for adsense)

That might be focus, but is it proper focus?

Does that build a business and do they love doing it? The graveyard of adsense site roadkill with people who went from making $10,000 a month to $83 a month is a mile long.” — Page 14. NitroBlueprint Manual

Good point!

When considering a course, book or product, consider:

  • How am I going to use and apply this to my business?
  • Do I want to follow the system this course proposes, or does it just teach a tactic?
  • Do I have the time to devote to go through it, learn and apply the material?

Even though I’m burning up with desire to get moving on some of the ideas I learned at the excellent Earn1KADay Summit 2009 last weekend, I’m keeping this in mind. In a nutshell, does it really build a business and will I use it?

Posted in Affiliate Marketing, Entrepreneurial. Tagged with , , .

Boot Lust

I’m attending South By Southwest this year, and of course that means attending a lot of parties, meeting people and connecting. Last night, I got into a fashion discussion with a new friend and I mentioned my new fashion lust.

I want a pair of the incredible Mark Nason Threat boots, which are sadly about $600 new. Ouch. Luckily they are a mere $200 or so from eBay.

The amazing thing is that he had a pair with him at SXSW. Ha! Small world.

Still, I can’t justify actually buying them at this moment, not while dealing with the divorce and everything. Ah well. It is a goal.

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Posted in Goals.

Don’t Quit and Don’t Sell

crystal ball Dont Quit and Dont SellA little sanity check during an incredibly turbulent time in the economy.

Don’t Quit

If you are already out there building your own business, keep at it. If you were all prepared to jump ship from your lousy office job, do it. The nasty little secret is that harder times clean up the pool for the people who are actually good at what they do.

Yes, a lot of businesses fail, although that stupid “fact” about 9 out of 10 businesses failing in the first couple years is so biased and slanted as to be nothing short of a lie.

For example, you know that selling your business counts as a “failure” in that statistic, right? Sounds like a win to me. The only people who pump that biased “fact” are selling you something or are trying to talk themselves/you out of starting a business. They are losers and you should always ignore losers.

The the truth is that if you are smart, practical and aggressive, you’ll do fine. If you work on the business at least some of the time. If you actually build value for clients and customers. If you actually have a plan, and if you can get over the aversion to actually telling people what you do and why they should buy from you, then you’ll do fine.

In fact, you’ll do better than fine, since all the fair-weather folks will drop out very early on in the so-called harder times. Persevere and you’ll come out on top during the recovery.

Face it, are you really safer at that corporate gig? I’ve been laid off, or quit just prior to mass layoffs several times from supposedly secure jobs. The idea of safety in putting all your income earning potential in the hands of another is simply foolish, and I finally learned the lesson reality was trying to teach me.

Don’t Sell

At these kinds of times, when the market is on a roller-coaster, I usually just turn off all market data feeds for a month or two. I can’t stand thinking “I’ve lost $x,xxx today.”

The truth is, if you look at it historically, the people who simply rode out the huge turbulent periods did fine every time. The people who actually see the big dips as opportunities and buy the right stuff at the bottom of the trough did way better than fine. They joined the ranks of the newly rich come recovery time.

Yes, it is annoying. Yes, you might need to put off that addition to your house because you shouldn’t liquidate the asset you were going to use to pay for it. But selling because everyone else it? You aren’t that dumb.

Posted in Entrepreneurial, Investing. Tagged with , , , , .

My daily productivity practices

checkit My daily productivity practicesIn the last year, I’ve found that planning and task management is critical to my success as an entrepreneur. Of course it is! I knew that before, but the last year has really helped me come up with a great set of tips for motivation and efficient productivity.

I use a blend of three sources for my motivation, productivity and planning methods. First, I use David Allen’s “Getting Things Done: The Art of Stress-Free Productivity” with modifications proposed by Zen Habits, to manage my enormous-but-well-organized task lists. Second, I blend in the experienced and curmudgeonly advice of Dan Kennedy from his book “No B.S. Time Management for Entrepreneurs (No B.S. Series)” .

The combination works wonderfully for me.

I start every week with a planning period of 30-45 minutes, where I review all my projects and adjust due dates. I resisted due dates for a long time, since they are not officially GTD approved, but taking DK’s advice, I started emphasizing them again, with the result that I feel much more in control.

During the weekly planning, I set 4 or 5 “Must Dos” for the week.

Every morning, first thing, I do the daily planning. This involves setting 3 Must Dos for the day, one of which has to be related to a long-term goal. Referring to my schedule, I write out a detailed schedule for the day, with no unscheduled time for the productive portion.

Then, throughout the day, I track how my time is actually spent. It rarely fully matches up, but that isn’t the point. The point is to get extremely good at estimating my time and how long tasks actually take.

Several of DK’s ideas from the “No B.S.” book have strongly impacted how I approach my daily productivity.

Firstly, I almost never answer the phone. I prefer to respond to voicemail via email, since it is more concise. If I am going to have a phone conversation, I try to limit the time allotted before the call is underway. “I have a meeting starting in xx minutes, so I’ll need to be off before then.”

I do not read my email at least until after lunch. To do so is to invite distraction during my peak productive hours.

When I do read my email, I read and process all of it, leaving a clean inbox. There is almost never a problem that arrives via email that can’t wait these few hours. If there is, it is probably because I’ve allowed a client to expect this level of service, and I have to learn to train the client better.

I do not attend meetings unless I am billing for them or unless I am convinced the project will make me at least $10,000. Meetings are a life and productivity killer.

If I do attend big meetings, I try to leave when my part is over.

On a monthly basis, I block out my time for the next month. This means filling my calendar with big blocks of time already allocated to projects or to daily disciplines such as writing or marketing. I do not lightly change these blocks of time. I’ve found this tip alone has increased my productivity by at least an hour a day, probably more.

The result of this focus on productivity, client management and task completion?

I no longer struggle to fit in productive time in the small sections of time afforded me between interruptions. It makes me enormously more effective, and possibly more important, happier. I don’t have to bite back a reflexive snap at someone who calls me just as I’m entering “flow” when writing or programming, because I just won’t answer the phone. Instead I enter the flow and really get some things done.

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Posted in GTD, Planning. Tagged with , , , , , , , .

Accounting is not so fun for me

For as long as I’ve had any business, I’ve done my own accounting. After all, I have a decent accounting program (MYOB FirstEdge ) and I understand the basics of accounting.

In a way, it is like programming or a particularly boring board game. You learn the rules and apply them to the inputs: receipts, bills, invoices and expenses. But all the time I find myself delaying and avoiding keeping my books up to date.

The final straw was me realizing on Thursday that I hadn’t been treating PayPal properly. I’d been treating it as “undeposited funds”, when really I should have been treating it as a bank account. It wasn’t a big deal before I started getting a flood of payments via PayPal primarily from my overseas clients . So, I downloaded my past year history and entered all of it that way.

Of course, that meant I needed to correct (with journal transactions), all transactions I’d entered inappropriately as petty cash or undeposited funds. Laboriously, line by line, I got it all to balance and be understandable. Like I said, I can do it, but it makes me want to pound my fists into the desk in bored frustration and irritation at the time this is taking.

Bleah and bleah again. I’m definitely outsourcing that job as soon as possible. I’ve got an interview with a bookkeeper this Thursday. It will be money well spent not to waste my time on stuff I find so incredibly boring.

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Posted in Banking, Entrepreneurial. Tagged with , , .



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