October 2009

The Millionaire Zone Book Review

by Eartha on October 26, 2009

millionairezone

I've been doing quite a few book reviews recently on this blog but that's simply because I checked out a bunch at the library recently. I've just finished reading Millionaire Zone, The: 7 Winning Steps to a Seven-Figure Fortune. This book is by author Jennifer Openshaw, a successful financial advisor who worked her way up from a motel maid to the entrepreneur she is today.

It's All About Networking

The majority of the book is about networking. Most people (myself included) are under the impression that starting a business has to be done on your own without any help. However, Jennifer makes a point to utilize the people around you to help you on your way. Your network can be made up of family, friends, community, and people that you come across. In fact, the entire first half of the book stresses how important it is to have a solid foundation of people to network with. She also shares some really inspirational stories of millionaires that started out with next to nothing but used their resources (network) to grow their businesses.

The type of help from your network is not about just financial help but even basic things like product testing, opinions, or even learning how to do specific things.

What I Found More Interesting

I have to admit, the first half of the book did tend to seem somewhat repetitive in regards to using your network, however, the way she blends in the personal stories of others kept the reading interesting. I felt the more interesting content happened towards the end of the book when she began giving action steps for financing your start-up and ways to get out of debt (as debt is what usually holds people back.)

Overall, there is a lot of good advice given in the book. It's not a bad read if you are seeking to start a business of your own.

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Rich Dad Poor Dad Book Review

by Eartha on October 19, 2009

Businessman holding US currency (focus on currency)

I'm a big fan of reading books about finance, business, and personal development. I think all topics are extremely important for anyone that wants to be self-employed. This past weekend, I read Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! by Robert Kiyosaki and really enjoyed it. It has been one of those books that I'd been wanting to read but never got around to it. Recently, while browsing the library, it was finally available.

It's a small book (around 200 pages or so) so if you're a fast reader, you can easily finish it over a weekend. The book starts out telling a story about growing up with his educated dad (his biological father) and his rich dad (his friend's father.) The difference in beliefs between the two dad's when it comes to money is what makes it a great book.

The educated dad believes strongly in getting an education, securing a good job, and retiring after 30 years. The rich dad knows that you won't get rich working for someone else. He teaches about how to create ways to make more money without depending on a job as well as the importance of buying assets (stocks, bonds, real estate, etc.)

The book also goes over the mentality of most people when it comes to money and spending. I could relate very well as I am one of those who has spent plenty of money on liabilities rather than assets.

One of my favorite parts of the book was the section which covered corporations and the advantages of having one. I know there is some controversy surrounding the teachings in this book but overall, I thought Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! was an informative read and good for everyone to read - not just those who wish to be self-employed.

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Why You Should Create Your Own Info Product Ebooks

by Eartha on October 15, 2009

reports

If you enjoy making money online, you may want to consider creating your own information products to sell. I've created several information products in ebook (pdf) form that I've used to build lists as well as to earn income. There are many reasons why I like creating information products:

Cheap to create - Mainly all it requires is your time to write them unless you outsource the writing to someone else.

No shipping - Unlike selling physical products, there is nothing physical to ship. Customers are sent a download link.

Get creative - You can be as creative as you want and include not only the ebook but videos, audio programs, and screencasts.

Sell at any price you want - You are not limited to what price you want to sell your products for. Most ebooks can sell for 3 times more than an average paperback because of the specific information and niche being targeted.

Long term business - You can brand yourself and create as many info products as you want. Your products can sell for years and years so long as you market them.

Don't Underestimate Yourself

You may immediately think you have nothing to offer in terms of information or that there is no way anyone would buy your product. I used to be the same way but I took the chance anyway. There are lots of marketers out there that sell ebooks in niches you probably wouldn't think make money.

Most of the time these marketers do not write these ebooks. They outsource the writing and stamp their name on it. They act as book publishers rather than experts in the particular topic. If you have information people want that helps them to solve a problem, you will make sales. When I released my recent "Quick Start Leads!" guide, I made a sale the very next day and that was from advertising on one of my blogs.

Things You Will Need to Create and Sell Info Products

Topics - You will want to research niches and the problems within those niches to get ideas for an info product. You can also put together something you are already knowledgeable in. Another quick way to create a product is to intervew an expert in the topic and create an audio program, ebook, or both.

Word Processor - Word (PC) or Pages (Mac) are good enough to do your typing in. If you don't have access to either, Open Office is an open source productivity suite that offers word processing, spreadsheets, and more for free.

PDF Converter - I use a Mac and it comes with a free PDF creator. PC folks can purchase Adobe Acrobat or search for free PDF creators online.

Web site - It doesn't have to be a massive web site. A single page, basic with sales copy is all you really need. This can be outsourced as well or you can find templates online that can be easily modified and uploaded to your web server. You can even use WordPress to set up a basic site.

Payment Processor - There are tons of them online but I like to use E-Junkie to sell digital products like ebooks. It works with PayPal as well as other online merchants. Rather than placing your ebook on your server (where it can be downloaded for free), E-Junkie will host it for you and take care of the payment processing and sending the file to your customers.

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You’re Broke Because You Want to Be Book Review

by Eartha on October 5, 2009

yourebrokeYou're Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead is a book about getting out of debt and regaining control of your finances. It is written by Larry Winget and I had not heard of him until I checked out this book from the library. He is the star of a show on A&E called "Big Spender" in which he helps people who who are in serious debt because of poor spending habits.

I have not heard of the show but would like to watch it if it is still on the air. The book is a fairly quick read and I admit I assumed it would be the typical "make a budget" book. He does give the common sense advice - basically spend less than you make, but what I really enjoyed was his writing style as well as sharing his own story of having nothing to having it all to filing for bankruptcy.

Larry Winget is a millionaire now and it shows that regardless of who you are, if you have the right attitude about money and take the right actions, you can reach your financial dreams. One common thing I've read in a lot of success books about money is that being rich is really all about your beliefs about money, belief in yourself, and positive attitudes about life in general. Essentially, a rich person can lose everything money-wise and gain it back and then some in 6 months to a year because they hold strong positive beliefs about earning and increasing income.

His blunt, in-your-face writing style will tear you down in the beginning but honestly, it is what some people need in terms of a wake up call. He also does a good job of inspiring you to do better financially. I found the stories that he shares about his millionaire friends very inspiring. Overall, the book is filled with reality checks and lots of humor which made it easy and fun to read.

You're Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead

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