Idea Almanac

In order for Pay Yourself First to be effective, the process has to be automatic. Whatever you decide to do with the money you’re paying yourself—whether you intend to park it in a retirement account, save it as a security blanket, invest it in a college fund, put it aside to help you buy a home, or use it to pay down your mortgage or credit card debt—you need to have a system that doesn’t depend on your following a budget or being disciplined. I actually started by Paying Myself First just 1 percent of my income. That’s right—only 1 percent. I was in my mid-twenties, and I wanted to make sure it didn’t hurt. Within three months, I realized that 1 percent was easy, so I increased the amount to 3 percent. It was around then that I met the McIntyres and said to myself, “Enough is enough—I want to start young and finish rich.

The Automatic Millionaire: A Powerful One-step Plan to Live and Finish Rich – Amazon Link

Idea Almanac

R.O.I. STANDS FOR RELEVANCE, OMNIPRESENCE, AND INTIMACY
Relevance refers to the quality of the messages you’re sending. It’s how you win attention, it creates the way your business is positioned in the minds of others, and it determines how the offer(s) you make to the market are received. Omnipresence is the strategic distribution of your message, brand, and marketing. When your audience feels like everywhere they look, there you are. Intimacy is the element of real, human connection in your marketing, and it’s the piece that I feel entrepreneurs miss the boat on the most. Nothing makes business happen and money move faster than trust. And the fastest way to build trust is through inviting others to share greater Intimacy with you.”

Excerpt From: Oldford, Scott. “The Nuclear Effect: The 6 Pillars of Building a 7+ Figure Online Business.”

Idea Almanac

It seemed like the answer to the question of whether people would pay for online tennis instruction was “No”—at least not at the volume to support Will and his business partner.
That was when Will discovered the Product Launch Formula. And since it was desperate times, Will leapt into action. He put his first launch together in just a few weeks. As he describes it now, that first launch had some rough edges. Will threw his prelaunch together quickly and used only the very basics of the formula. But as you’ll see in this chapter, even if you get only the core principles right, the results can be dramatic. That first launch did $35,000 in sales in a week’s time, which was as much as the business had made since they opened the doors ten months earlier.”

Excerpt From: Jeff Walker. “Launch: An Internet Millionaire’s Secret Formula To Sell Almost Anything Online – Amazon Link

Idea Almanac

The easiest to start business opportunities today let you take advantage of the publishing capabilities of the Internet to attract sales. Fragmented and distracted audiences, piracy, and lower cost competitors are destroying the 20th-century media elite of top newspapers, TV programs, radio stations, record labels, and film studios. There’s room for you as one of those lower cost competitors, too. If you pick a profitable target market and serve that audience consistently with content it finds valuable or entertaining, you can make good money with low overhead, and have fun doing it, too.

Excerpt From: Scott Fox. “Click Millionaires.”

Idea Almanac

I want to be abundantly clear: the goal should be to charge as much money for your products or services as humanly possible. I’m talking heinous amounts of money. That being said, anyone can raise their prices, but only a select few can charge these rates and get people to say yes. From this point forward, you must abandon any notion you have about “what’s fair.” Every enormous company in the world charges you money for things that cost them nothing. It costs pennies for the phone company to add an additional user, except they don’t mind charging you hundreds per month for access. It costs pennies to manufacture pharmaceutical drugs, but they don’t mind charging hundreds of dollars a month for it. ”

Excerpt From: Alex Hormozi. “$100M Offers: How To Make Offers So Good People Feel Stupid Saying No.”

Idea Almanac

I taught myself direct marketing as a science. I’m a reliability guy. I’m far more interested in a car that starts and runs well and predictably every time you turn the key than one that looks sexy and is popular with some in-crowd, but might stall at 80 MPH or not start at all. I like evergreen, not frequently obsolete. In my roles as a strategic consultant and a direct-response copywriter, I am all about creating advertising, marketing, and sales assets of lasting value for my clients—not moneymaking devices written in disappearing ink. That’s why I agreed to write the foreword for this online marketing wizard’s book. I admire the truth Russell has put between these pages. – Dan S. Kennedy

Excerpt From: Russel Branson. “DotCom Secrets.”

Idea Almanac

The patterns of Facebook have almost identically matched what Google did when it started.
Step #1) The Adoption: Make the barrier of entry easy to get everyone in and using the platform.
Step #2) The Price Hike: Slowly raise the prices to squeeze out the margins, killing off any entrepreneurs who don’t understand how to use funnels.
Step #3) The Slap: Kill off the 50 percent of advertisers who cause 90 percent of their headaches.

Excerpt From: Russell Brunson. “Traffic Secrets.”

Idea Almanac

“Selling your company, especially for $10 million or more, is life changing, to say the least. Heck, it’s generation changing. I’ve seen it happen many times, and it never gets old. If you use the method in this book, you may find yourself in a position to one day sell a business if you want to. This is absolutely possible, assuming that your product is good, you’ve built a good business, and you have put in the step-by-step work I’ve taken you through. In fact, you really make your money when you sell. Even after you cross the million in sales, you will still likely be paying yourself a modest salary, investing as many dollars as possible back into the business. You celebrate when you finally cash in your chips.”

Excerpt From: Ryan Daniel Moran. “12 Months to $1 Million.”