Dear Internet, Print Me Some Money
Internet Marketing is littered with enough false promises to make your eyes water. Ever since the turn of the millennium when Internet stocks created fortunes and lost them twice as fast, our industry has been riddled with high expectations, a circumspect grounding in reality, and far too much bullshit to keep a tab on.
My work has revolved around the Internet for my entire professional career. I advanced from designing websites, to assembling the code behind them, to selling ad space on them. Along the way, I’ve developed a keen eye for spotting opportunities on other websites. From primitive arbitrage, to site flipping opportunities, to abusing loopholes in ways that the webmaster never intended.
I’ve seen many moneymaking strategies crash and burn, whilst others have evolved with time. SEO, for example, requires a conservative and professional approach in 2012, with an ever-increasing number of bullets to dodge. It used to be easy. Why? Because nobody else was doing it.
Fast forward to 2008. Affiliate marketing had become perhaps the greatest wealth generator for idiots the digital landscape has ever known. Life was so simple. Find an offer to promote, upload an ad to Facebook, wait for approval, and bank the rich returns. Inevitably, the rest of the world caught on. And here we are now. Prices have never been higher, and so the degree of creativity necessary to succeed has risen. Thousands of novices want to become affiliate marketers, and yet the task gets harder with every passing day. They’re 4 years late to the party.
Affiliate marketers who made their millions in the big boom have been fast-tracked as experts on a subject that has detoured dramatically from its original path. Novices may look up to those experts, but the painted picture from the top is rarely anything but smoke and mirrors.
Nature has a time-honoured method of punishing good moneymaking strategies once they reach the public domain. If the strategy becomes common knowledge, or too exposed to unskilled buffoons, any benefit to be gained from the opportunity is lost. Of course, the strategy lives on in the imagination of the baying crowd. Many will happily pay to hear about the next magic button, the next get rich quick scheme, blissfully ignorant to the reality. As soon as lucrative information becomes public knowledge, it loses its value.
As an Internet Marketer, I see this happening time and time again. Legitimate moneymaking opportunities are born, profited from, and then swiftly rendered useless as a ‘guru’ leaks the techniques to the masses.
These gurus are rarely true exponents of the techniques they talk about. They are poorly skilled at making money with genuine enterprise, so they choose to sell the concept instead. Those who can, do; those who can’t, teach. Their decision to teach ruins the opportunity for the true exponents, and it creates a glorious pipe dream for everybody else. Market law dictates that when a lucrative strategy becomes too easy and too popular, it fails.
In the stock market, wise investors know that a bull market is riddled with danger when Average Joe can be seen throwing his money at it – especially if he’s offering the same ‘hot tips’ to his neighbours and friends.
The same applies to just about every ‘easy’ strategy in Internet Marketing. Unless you’re the innovator, the strategy is guaranteed to be anything but easy by the time you’ve read about it in a PDF.
99% of information products are bullshit on this basis. The grander the promises, the further detached from reality they become.
One of the golden rules you have to ask before considering any information product is simply, “Why is the author giving this information away?”
The bizopp market is constructed around some of the most illogical consumer decisions of all time.
If you honestly believe that a multi-millionaire is going to give you access to the blueprints of his success for $19.95, you’ve lost your bloody marbles. Why do people not ask “Why?”
1. Why would a millionaire need to sell his blueprints?
2. How effective can those blueprints be if they’re on sale for $19.95?
3. If he really wanted to give back to help others, why charge at all?
Honestly, there are no exceptions. You will not find a single moneymaking strategy in the world that ticks all three boxes of easy, sustainable and profitable.
There are easy and profitable strategies… but they don’t last, and often require leaving your integrity at the door. If you’re an affiliate marketer, slinging acai berries to half of America was easy and profitable. But sustainable? Not with an FTC lawsuit wedged firmly up your arse.
Likewise, you’ll find plenty of easy and sustainable strategies… although I haven’t yet seen one that made anybody rich. Extreme couponing is an easy and sustainable strategy, but only if you value your time at close to nothing. Maybe a nuclear blast will bring profitability to your giant stash of Frosted Flakes, but failing that; good luck.
And then there’s the smart choice: profitable and sustainable strategies… the blueprint of all great businesses. Average Joe might not like to hear it, sitting at home in his underpants with $19.95 to invest, but these strategies are several galaxies detached from being easy. They require the creation of real-world value. And there you’ll find the only blueprint of wealth generation with a proven track record: adding value to the world.
If you can’t create value for somebody, somewhere; you don’t deserve your early retirement. That’s a contrasting view with the many ‘magic button’ infomercials; those that prosper when your sense of entitlement grows. They insist that success is your God given right; that the world is doing you wrong if it fails to deliver a Pina Colada on a crystal sandy beach.
Whatever your personal beliefs, or your own sense of entitlement, the market will not change. Anything that you can buy for $19.95 is readily available for the rest of the world to buy too. If you intend to become richer than the market average, you have to do more with the information than most of your neighbours and friends. Or better yet, blaze a completely new trail for others to copy.
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Rich Dad Poor Dad Review
This book, shockingly ranked #1 on Amazon for Personal Finance, might as well have been called Rich Dad Poor Dad Hopelessly Deluded Author. It’s so far detached from real-life wealth generation, that you should probably confine all future Robert Kiyosaki works to the Fiction section. He clearly specialises in talking out of his arse.
It’s five years since I was first recommended Rich Dad Poor Dad, a bestseller that I have always treated with skepticism given the murky nature of Kiyosaki’s upselling regime that sits behind the brand.
After reading the book in two pained sittings, I can safely say that anybody who recommends this slice of warble as valuable literature in the field of personal finance, is out of his damn mind, and knows jack diddly squat about personal finance.
Before we even get to the plot, it has to be said that Kiyosaki is a terrible writer. His storytelling unravels in scenes that would not look out of place in a poorly scripted infomercial. This, of course, is no coincidence. The infomercial is a perfect match for Kiyosaki’s primitive take on wealth generation. The rich are a collective, and the poor are a suffering crowd. It’s in such simple terms that Rich Dad Poor Dad thrives.
It’s difficult to decipher the author’s exact message at times. But I think I’ve nailed it down to 3 key points:
1. Education is important, but always second to financial literacy. People turn out poor because they’re not taught financial literacy.
2. Real estate is a fastlane to wealth. Buy properties at discounted prices, flip them and bank the just rewards. He doesn’t give details on how to implement this ninja wisdom, or how to beat the market. He places the burden on ‘insider tips‘. Mmm, fruitful.
3. Pay yourself first. Even if the government comes knocking on your door, you deserve to be paid first. The best way to do this, in Kiyosaki’s opinion, is to hide under the umbrella of a corporation. The author fails to recognize the difference between business expenses and personal expenses. I’m sure at least some of his devoted readers will have taken the words to heart, used expense accounts to buy rolexes, and will have enjoyed the fist of the IRS lodged firmly up their arses ever since.
Early in the book, Robert explains how he and his best friend Mike became swept under the wing of Rich Dad, a fatherly figure hated by his employees but blessed with the secret of knowing how to generate immense wealth. What could it possibly be?
The boys, at this point, are only 9 years old. Rich Dad puts them to work every Saturday, paying a pathetic 30 cents for their time. One day Robert snaps and can’t take it any longer. “You said you’d teach me the secret of wealth! All you’re doing is forcing me to bust my guts for nothing!”
At this point, Rich Dad launches in to a mind-bending interpretation that he has actually done the boys a favour. He’s proven that the rat race is no way to spend a life.
Note: I’m pretty sure exploiting child labour in the manner of Rich Dad is considered illegal, even in America. Somehow, the madness only escalates.
What follows is a laughably contrived debate between alleged moneybags entrepreneur and inquisitive 9 year old Kiyosaki. I don’t remember how savvy I was at 9 years old, but I’d be amazed if I was able to remember even a fraction of the investment ‘wisdom’ that Rich Dad throws in the face of this kid. It’s clear that the encounter is entirely fictional and designed to portray a conversation between Rich Dad and the reader. But what does it say about the lessons to be learned that Kiyosaki has cast the audience as a hapless 9 year old child?
Just like that, Robert sets off on his adventure in search of riches and fame. Well, I suspect he achieved one before the other.
I could find only one bright spot in the entire book. It arrives out of the blue when Kiyosaki expresses the importance of investing in assets rather than liabilities. This is basic financial footing. Don’t spend more money than you bring home. Invest extra money in assets, and stay out of debt. I can see how the big reveal – Kiyosaki calls it the only rule of wealth that matters – might bring clarity and a sense of direction to those who have been doing it wrong. But for everybody else, it should be common sense.
Kiyosaki explains very little about where to invest money, nor what makes a good asset. But he does launch in to a tirade about the importance of paying yourself first. The argument can be summed up best with this stroke of genius:
“When I occasionally come up short. I still pay myself first. I let the creditors and even the government scream.”
Perhaps I’m missing something, but if this doesn’t tick the right boxes for ‘catastrophic financial tip of the year’, then I don’t know what will. More tellingly, it goes against every sound cashflow suggestion that he squeaks in to the first few chapters, removing any hint of a saving grace from the diatribe to follow.
How can you truly appreciate the importance of assets vs liabilities when you’re continuously battering your credit rating by refusing to stump up cash for your bills and debts?
Kiyosaki argues that it doesn’t matter. Paying yourself first is ideal, no matter how loudly the government screams, because even if you don’t have the money in your bank account, the over-commitment will inspire and motivate you in to making ends meet. It’ll force you to grow as a businessman. What?! No really, what the fuck? Does he have the slightest Scooby what he is ranting on about?
One could argue that attempting to blood financial wisdom from a Kiyosaki sales device is like watching a SmackDown divas’ pillow-fight in the hope of extreme pornography. Expectations need to be met by reality. Yet I was still left wondering how such a half-baked cocktail of metaphors and generalizations could ever be met with widespread acclaim. Then it tweaked. The Warrior Forum flashed before my eyes, and normality was restored. Common sense looks like genius when it’s viewed from a cesspit of stupidity.
Do yourself a favour. Don’t buy Rich Dad Poor Dad.
Recommended This Week:
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A better read on the subject of wealth generation, although still somewhat flawed, is The Millionaire Fastlane, which I reviewed last month.
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Building Backlinks: The Fastlane To Insanity
This weekend, I decided to engage in some research that never fails to get my blood boiling. What better way to spend your Sunday afternoon than by crawling the web making notes on how to boss Google’s search rankings?
SEO is to Finch, what the slaughterhouse is to cows.
It’s where I go when I feel like throwing my business plans before the judge and pleading for a stay of execution. “Dear Google, please take pity upon thee.”
So I loaded up on Victoria Sandwich, pointed my browser at Yahoo Site Explorer, and prepared mentally for the skullbreakingly arduous task of analysing my competitors’ backlink structures.
As it so happens, Yahoo Site Explorer is now defunct. My childhood sweetheart, the only SEO tool I ever truly loved, has been married by Bing and shepherded away – presumably to be shagged and ruined in some Microsoft developer’s basement. This has driven yet another wedge in my already unstable relationship with SEO.
Backlink research is touted as a ‘must’ before venturing in to new niches. Nobody wants to build a potentially lucrative website only to find that Joe Marketer has already pummeled Xrumer and assembled his gajillions of links to maintain search engine dominance through 2017. But there’s the paradox. Even though I make the effort to do backlink research, it rarely ever affects my decision to go ahead with a project.
“Wow, the competition has 3,990,374 backlinks. That’s pretty impressive. But I don’t like his choice of stock photos. I’ll build my site anyway.”
Ego often impedes the voice of SEO reasoning in my head. I hate the idea that success hinges on some bullshit measurement of who has the best/most backlinks. That’s why you’ll find me feeding buckets of fish laced with steroids to Google’s Panda in the middle of the night, then running away like a little girl as the ‘SEO Professionals’ come charging in disgust.
The whore charade makes me wonder if offline business ever used to be this way. If you took the regional equivalent of today’s Google, let’s say a local business directory, would it have been ranked and prioritised in the same manner? Are you telling me that to get my business spotlighted on a good page, I would have to cruise every last dark corner of the neighbourhood posting my business card through abandoned letterboxes?
Because that’s essentially what backlink building is. It’s handing your business card to anybody who will accept it, in the faint hope that a chief regulator, aka Mr. Google, notices the card in abundance and is mathematically satisfied that you’re worth half a shit.
No doubt this analogy would provoke an uproar from the local directory ranking experts. They would tell me quite bluntly that I’m wasting my time whoring business cards in the ghettos. They’d insist, “No, no. You need to get your business card adorning the windows of the palaces and castles!”
So, I’d work hard and mingle in those upper class circles. I’d send letters and scratch backs. My culture vulture would be well and truly on. But invariably, I’d discover that the owners of the palaces and castles aren’t interested in my business cards. Their interest extends only as far as their own financial gain.
Believe it or not, these Princes and Kings don’t classify what you promise to be “relevant content for their kingdoms” as fitting for their cause. Cruelly, they would rather engage in a furious 24/7 circle jerk behind closed doors than deal with the ignominy of your fresh arse on the block. So, what are you to do? You get on your bike, retreat to the neighbourhood, and blast your business card through 3,990,374 derelict letterboxes instead. Fan-tastic.
My conclusion? The backlink building game is fundamentally shagged. Don’t waste your time building backlinks. Just build a reputation for awesomeness instead.
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The Future of Premium Posts
As I wrote several weeks ago, sales on my affiliate marketing Premium Posts have been going strong. That’s still the case. I’m glad they’ve exceeded the template of one hit wonder! The latest release, covering how to make money from dating offers, seems to have been received very well.
So, I’m excited to begin work on Volume 4. The theme is simply going to be ‘Outside The Box‘. I want to steer affiliates away from the idea that they can only be successful on Facebook and Plentyoffish. In reality, it’s much easier to be successful away from these traffic sources. Volume 4 will be about not only diversifying your traffic sources, but designing landing pages and ad creatives that break the mould.
I’ve spent a lot of time researching concepts – and profiting from them, which is always a moral relief! – so I’m excited to condense what I’ve found in to one diatribe of expletives, balls and occasional marketing advice.
I’m also going to be rolling out an affiliate program. It’s been a pleasant surprise that so many bloggers have been happy to write reviews for a free copy and no monetary gain. Which is why I’m all the more excited to throw in a commission and broaden my reach through word of mouth exposure.
If you run an Internet Marketing blog and haven’t read Premium Posts, I would be more than happy to send a copy in exchange for an honest review. Hit me up if that sounds interesting!
I’ve been thinking a lot about the future of the Premium Posts. Where can I take them? How many volumes can I justify before the value begins to diminish? Well, I’m sure readers will be quick to tell me when the quality hits the skids, but I think I’d like to release 7 volumes and then focus my efforts on product creation elsewhere.
CPA affiliate marketing is a small pond. There is a very apparent shoreline where the sales numbers are fixed, no matter if I’m publishing a masterpiece or a stinking shipwreck. I’d like to move in to more scaleable markets, not just to make more money, but to deliver my writing to people that might be affected by it in a different way. There must be more to this world than motherfucking arbitrage and CPVLab columns. Please tell me if I’m wrong.
The whole process of selling my writing has really enforced that I see my future away from affiliate marketing. I’m already envisioning in my mind the final product on FinchSells.com to be a roadmap of why I got started in affiliate marketing, and why I decided to leave it.
That product is still many months away. I have a lot of work to do before I can shift the majority of my income away from the arbitrage column. But it will be a huge burden off my shoulder when that day comes.
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Stop Reading Blogs, Start Reading Books
Since caving in to the lure of a Kindle, my personal goal has been to read 100 pages of literature every day. It’s something I recommend every blogger should consider.
If you run a blog, or produce any kind of web content, you should be reading regularly to enhance your own output. In fact, if you have any entrepreneurial instinct whatsoever, you will greatly improve your chances of success by reading regularly.
Most people accept that good writing comes from practice and lots of reading. What they often ignore is that bad writing is just as easy to inherit. Unfortunately, bad writing is a central trait of the blogosphere. It’s just as epidemic as the lack of actionable information, or the self-obsessed drivel regularly tossed out by writers with no journalistic qualities and not the slightest regard for being held accountable.
Blogs have become a staple part of our literary diets. While I’m a huge advocate of sharing information in this way, I think it’s a shame that so few bloggers actually take their writing seriously. It’s not just bloggers. Every day, I find websites scourged in bumbling copy that fails to communicate the author’s message.
So what’s the solution?
Not every blogger has the literary prowess to mug off Shakespeare in the style stakes. But I think we can all benefit from investing in a decent grammar handbook, and particularly by immersing ourselves in books that have been stamped for approval. You know that a book has been stamped for approval when you find it on a bookshelf, not on a Clickbank sales page.
Many of us have RSS readers loaded to the hilt with meaningless crap – often, horrifically written meaningless crap. Feasting on so much mediocre writing makes us susceptible to inheriting the flaws as our own.
In the business world, we say that the fastest way to achieve wealth is to spend your time in wealthy company. Well, let me tell you that the same applies for good writing.
We live in an age where tablets and smartphones make books as accessible as the nearest USB cable. How many hours do you spend commuting to work each day? How much television do you inflict on your weeping eyeballs? Cut down the crap. Get some literature in your life!
And not just any literature. Read books that challenge your imagination.
I’m currently indulging in a wide variety of genres from the brilliance of Orwell, to the science of Dawkins, with thousand-page-thick Psychology textbooks thrown in for good measure. Reading is a workout for the brain. If you’re not pushing yourself, you’re standing still. If you don’t sweat after a workout, it probably hasn’t been a great workout.
Blogs exist by rehashing the same nuggets of information in bite-size form. Most of that information comes from books, or worse, plucked from the blogger’s fat lying arse. Sites in the Internet Marketing space – hey, like this! – are notorious for providing reminders of the shit we should have done yesterday. They rarely deliver plans for tomorrow.
There’s little harm in that, but for two problems: the information can be extremely biased, and the writing often sets a bad example.
I’m not suggesting you sacrifice all blogs for a dingy afternoon in the library, although maybe you should. But we need to make an effort to escape our comfort zones and feed the brain some literature of a little more substance. Our brain will thank us duly with new inspiration, new ideas and a much tighter hold over the English language.
If you have a blog, or any kind of web presence, you can steal a beat on your rivals by learning to communicate more effectively. The best way to do this is to read, and a read a lot. Writing is a tool that will aid any business. But to master it, you must expose yourself to a variety of literature. Not just the crap – like this – that piles in to your reader.
Recommended This Week:
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Grow A Monster Blog By Manipulating This 1 Human Flaw
“Thanks to Google, we can instantly seek out support for the most bizarre idea imaginable. If our initial search fails to turn up the results we want, we don’t give it a second thought, rather we just try out a different query and search again.”
- Justin Owings
This is one of my favourite quotes on the subject of confirmation bias – our tendency to pick and choose facts where they suit us, neglecting anything that goes against our argument. It’s something that should interest all Internet Marketers, and particularly those who run blogs.
I often say that to be successful as an ‘expert’ or a consultant, you don’t need to know everything – just a tiny bit more than your average reader. You can be a successful blogger by validating what your audience already knows. It’s one of our many rational defects that we rarely seek new information, and would much rather find confirmation that our existing views are truthful and valid.
Confirmation bias: The tendency of people to favour information that confirms their beliefs or hypotheses.
Successful bloggers are brilliant at exploiting this bias. They roll out content that is designed to look informative, but usually only confirms what the reader already knew. The best bloggers will go one step further. They’ll produce content that validates what a reader can only speculate to be true, thus sealing the role of ‘authority in a niche’, as my fellow Internet Marketers like to put it.
Unlike journalists, bloggers do not have to stick rigidly to the confines of fact over fiction. The secret to success lies in how we are perceived. By feeding readers the right blend of useless crap they already knew, and useless crap they always assumed, we can portray ourselves as figures of authority where it isn’t truly deserved. Some of the biggest and most popular blogs in the world rely on steady diets of ‘expert advice’ that serve merely to nail us to our beliefs.
Confirmation bias is a psychological weapon that allows bloggers to gain followers without having any kind of academic link to their chosen topic. By engineering a steady dripfeed of content that satisfies without challenging, any single one of us can become an expert. The old adage that content is king makes sense, but it doesn’t tell the full story.
If you really want to command a following, stick to telling people what they already know. If you want to become the fabled Mr Big Pants ‘authority in a niche’, extend that content to what they also speculate to be true.
One look at my Twitter feed tells me that the Republican primaries are now in full swing. Have you seen the bickering on political blogs?
You’ll find that the most commented sites are those that rally similar minded folk by enforcing their beliefs and serving a rose-tinted slew of facts to support them. If these sites felt a duty to promote a fairer race, they would paint each candidate in a fair and unbiased light. Of course, to do so would be to ask readers to challenge their beliefs. It never happens. People don’t want to be challenged. They want to feel vindicated, that they were right all along.
Once forming an opinion, we would rather live in ignorance than appear to be ‘flip-flopping’. Ordinary bloggers can grow monster followings by latching on to this weakness and appealing to the confirmation bias in us all.
Internet Marketing doesn’t require years of expertise, neither does blogging. It simply requires the articulation of beliefs and opinions in such a way that readers can pursue them as their own. If you do this, you will always have an audience.
Recommended This Week:
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