Randy Cantrell is the founder of Bula Network, LLC - an executive leadership advisory company helping leaders leverage the power of others through peer advantage, online peer advisory groups. Interested in joining us? Visit ThePeerAdvantage.com
More often than not, the pan is empty and the water is dirty.
Internet Marketing is like the gold rush…creating more fools than millionaires.
It’s likely Levi Strauss got more money than the richest 49’ers ever did. Here’s a nice little resource from Mrs. Thonus’s 3rd Grade Stars! Here’s a quote that might get your attention:
Then a man named Sam Brannan, a merchant from San Francisco, saw his opportunity to get rich! And he did it without ever mining for gold! He had heard about the news of gold on the river, the news most people dismissed as being just a rumor. Sam also knew about the law of “supply and demand” so he ran through the streets of San Francisco shouting about the discovery of gold. Brannan showed everyone a bottle filled with gold dust so they believed him. Mr. Brannan had a brilliant plan. Before he spread the news about the discovery of gold he had bought up all of the supplies the miners would need: pick axes, shovels, and pans. He sold miners pans for $15 each when he had bought them for only 20 cents before the Gold Fever hit. He made $36,000 in just two months and that was worth even more in 1848! He eventually became the richest man in California.
Today’s gold rush is the Internet. Shouting “there’s gold” garners lots of attention. Especially given the convergence of a bad economy and global connectivity. It’s a recipe sure to drive hoards of clamoring people who long to be rich into the waiting arms of Internet marketers making wild claims.
Too much money is going into the pockets of the folks selling the picks, shovels and pans. They know the “typical” customer won’t make enough money to offset the purchase of the picks, shovels and pans.
Buyer, beware! There’s one ingredient you need in order to succeed when you’re mining for gold. Listen up and I’ll tell you what it is.
Peyton Manning and Jim Irsay held a press conference on Wednesday. Both men are very rich. Both men had successful fathers. I suspect both men will have a high monetary lifetime value. Peyton’s next contract is likely his last, and perhaps will be his highest!
Marketing folks often urge businesses to compute the lifetime value of a single customer. Today, I’m going to encourage you to consider your life in terms of lifetime value.
What do you think?
I’d love for you to share my shows with others. Tell a friend.
“You don’t think it’s too crowded, too competitive?” he asked.
“It may be, but if you find an area where nobody is working…there’s likely a good reason,” I replied. “And besides, we’re not talking about a high cost to enter and get started, and to find out if you can carve out your own corner.”
Competition is great. It’s fun. Sure, it’s good for consumers, but as a business person I enjoy it.
Mentioned in today’s show are three guys. They help illustrate that competition can be based on personality, approach and connectivity. One person isn’t going to effectively serve everybody shopping for a service or product…even if the niche is as narrow as podcasting. By the way, I like all these guys and admit I hope they’re all doing well because they all bring something special and unique to the space.
Daniel Clark – QAQN.com – Daniel is very involved in various Internet marketing areas, most notably affiliate marketing. He has his own unique style and personality. Don’t we all? He has his own unique circle of friends and acquaintances, too. Daniel is illustrative of just doing it. He produces shows and doesn’t let kid noise or anything else stop him. Wrap it all up and you’ve got Daniel’s unique approach to podcasting and coaching.
Cliff Ravenscraft – PodcastAnswerman.com– Cliff has a different story than Daniel or Mark. He dumped a career in insurance to pursue a dream of being a full-time paid podcaster. A wife, three kids and a mortgage – they’re all part of his story. But there’s more to his story. He’s got a religious background having served in various capacities with churches. He peels back lots of areas of his personal life. It’s part of his story and he’s very willing to share it. Cliff is a geek’s geek and you can tell he loves technology. Bundle all that together and Cliff has is own unique approach.
Mark Jensen – NewMediaGear.com– Mark is different yet. He doesn’t market himself as a podcasting coach or consultant, and frankly I don’t even know if he does it, but he’s in the space of podcasting having started a show years ago called PodSqod. He morphed that into New Media Gear some years ago and his show is just what the title says, it’s very focused on gear. Mark’s YouTube channel is popular with guys who suffer mic envy (ahem, I resemble that remark). Mark has broadcast radio experience and voice-over experience. He’s very technical when it comes to gear and hardware.
Three different guys. Three different approaches. Three different focal points and backgrounds. And guess what? There are plenty of others I didn’t mention. I think there’s room for these and others because one-size-doesn’t-fit-all.
Competition helps us become better. As Jack Welch often said during his tenure at General Electric, “Get better or get beaten.”
Yes, I’m a strong proponent of competition and being competitive. That doesn’t mean I believe in scarcity. It means I believe in trying to be the very best, which necessarily means others are left in the dust.
What does forgiveness have to do with careers and business? Plenty, because the focal point of forgiveness is people, or a person.
Whether we’re injured or causing injury – it happens. Sometimes it’s intentional and malicious. I’d like to think that most of the time, it’s not. Maybe it’s just thoughtlessness, or selfishness.
The greater the harm or damage, the greater the effort to accomplish forgiveness. A commitment to harbor ill-will, bitterness, resentment and to seek revenge is exhausting. In business terms, it’s among the lowest ROI propositions going. And because the emotions that fuel it are so high, we often push headlong into bad behavior. Who cares if it pays? We desperately want what we want.
Everybody knows the feeling of wanting forgiveness. What if we could embrace that feeling and flip it over, using it to fuel a desire to forgive others?
I’m not saying it’s easy, but I am saying I think it might be worthwhile.
