just for fun today, i thought i’d share with you some of the most important lessons i learned in business that would benefit you.
* i don’t believe in the “three strike” rule any more, it’s one strike and you’re out. people rarely lie, cheat, or act dishonestly as an isolated incident. it’s a pattern. if they’re ok with it once, they’ll do it again.
* billlion dollar business ideas are as common as arseholes; everyone’s got one. they’re not worth a cent unless they’ve been at least partly built and made some money.
* the most important person in a business is not the IDEA guy, it’s the “money-guy”. whoever would stop the money flowing if they drop out, that’s who’s going to be ultimately in charge.
* “show me the money” i don’t believe in any promises of potential until i see the money flowing.
* “can we work out a revenue-sharing deal” is code for “i want you to help me for free” and if it works out, you’ll get paid”. Anyone who won’t invest into their idea doesn’t actually believe in it. why should you?
* don’t fully invest into anyone else’s business idea; it won’t go 100% your way so don’t put 100% of yourself into it.
* when working with others, protect your work, keep accounts in your name when possible, and try to hold onto ownership of everything that is yours. remember, if the partnership falls through, you can’t count on getting your stuff back. it pays to be the one paying for the important services like the website hosting, the autoresponder, or the membership site.
* don’t partner with someone who has skills you can hire. it might be cost-effective at the start, but they’ll get progressively more expensive as your business gets more successful, and you’ll do become bitter eventually.
* don’t give out your time freely to “prospects” in the hope of making a bigger sale later; they only want the free advice that comes with your time.
* don’t give products up-front in the hope of getting paid later, people only pay for what they want and can’t get for free.
* when a simple idea makes money, it can make a lot more when repeated. and it’s always the simple ideas that do best.
* if an idea is going to work, it will give results immediately. if the sun sets on your idea and it doesn’t bring the desired result, it’s better to scrap it and try something new.
* no single prospect is going to make or break your business, no matter how big a fish they are.
* gooroos and big-shots make the worst clients; they’re high-maintenance, they always want everything custom, they don’t pay, and they always think they know better. it’s best to turn them down as clients.
* if a gooroo asks you to build a product or host a webinar for them, don’t. you might get a big pay-off in the short-term, but your product is no longer yours and they’ll eat the lion’s share.
* your mailing list is sacred; if you’re not an affiliate marketer, don’t email them with any offers except your own.
* never promote a product in “launch” as an affiliate; you have no way to check its content is worthy of your testimony.
* never cry over lost money; it’s a business lesson you had to learn to prepare for your milllions.
* there is no successful business person who hasn’t been cheated BIG-TIME and lost a lot of money before they got where they are today. it gives you the thick skin you need to make big investments later and hardens you against any deals that promise big and deliver nothing.
* most people don’t do anything with their business ideas; you lose nothing by entertaining a conversation for a partnership, but don’t hold your breath. leave yourself open to opportunities, but try to hold off as long as you can from making any commitment or investment until THE other party takes action.
* build your business to have the same values as yourself. and never do anything that goes against those values, even if someone else tells you that you’ll have better results.
That’s all for now.
I hope these lessons benefit you as much as they have me.