Have You Got the Right Money Mindset?

What would occur if you increase your income significantly?  Such as $1 million, $10 million or more? Certainly you would purchase some things, invest some and ensure that it lasts through the rest of your life… right?

That is what we say or assume we would do. However, you have read the repeating stories of lottery winners who buy, buy, and buy or even find investments only to discover they were scams. This story has also been repeated by professional athletes… example, four-time boxing champ Evander Holyfield earned over $250 million in his career and yet he is completely broke now! We sit back and wonder “How could they have done that?”… “I would be much better at managing the money.” Or would you?
We each have a comfort zone for the amount of income or personal wealth that we feel okay with. If we earn less than the ‘magic’ number, then we work harder, find a new job or get a second job to reach our comfort zone. If we get more than the ‘magic’ number, then the internal discomfort creates decisions that cause our personal wealth to reduce back to within about a 10% range above or below our comfort zone.

Your money mindset or wealth comfort zone is critical to be aware of and if needed, to be changed to support any new wealth increase in your life. Where does a money mindset come from? Of course, there are a variety of ways we assume a comfort zone. One experience for me was that my first salary out of college paid me more than each of my parents made in their jobs of 20 plus years. That created discomfort for me and a struggle about whether it was ‘right’ to earn more than my parents or even the more experienced workers at the company I worked for. Perhaps you were told that money creates problems… if you believed that then why would you want more money since that would cause more problems in your life.

How does this apply to business? If you are in sales, then once you reach your monthly quota, you may slack off or even sabotage additional sales. If you are working on a project that will provide a bonus based on a successful outcome, you may find yourself procrastinating about finishing the project. If you are a consultant or entrepreneur and determine the amount you charge for your services, you may repetitively charge less than you could for your contracts.

Underneath the comfort zone or money mindset are beliefs about how you feel about money, about yourself, as well as about the value to bring to your job or clients. Check your thoughts and feelings about a project or situation you are working with. Do you feel you are being taken advantage of? Then perhaps you feel you should be paid more than you are and thus you are below your comfort zone. Or, do you feel guilty about the money you are making or have? Then, you are probably above your comfort zone.

There are many ways to update or upgrade your money mindset or comfort zone. Being aware is the first step. The most efficient way I have experienced of creating a new level of money mindset is using a process that changes the subconscious mind regarding wealth/money/abundance, etc. 

Reference: http://powerofmindset.com/2010/04/07/money-mindset/#more-249

Making Money Online Requires a Profitable Niche

Finding a Profitable Niche Market is the first step towards making money online. There is no point going through all the steps to create an online business if you have no idea whether people are interested in buying your product/s. If you want to make money on line you absolutely must put all your marketing efforts into a profitable niche.

A niche is just a word that describes a small section of a larger market. For example, a niche within the weight loss market could be hypnosis tapes to lose weight. When you're making a business on the internet you want to choose a niche that is profitable enough to reward you for your work. Here are some steps on how to find a profitable niche:

1. Go to Amazon's website and look to see if there are more than 20 reviews for any products in your market
2. If there are, you're onto something good! Amazon reckons that only 1 in 1,000 buyers leave a review for a product bought on their site. So any product with 20 reviews means about 20,000 buyers! A very good sign that this product is in a profitable niche.
3. Look for more products in that niche
4. If other similar products have more than 20 reviews go to ClickBank's website and search for products in that niche that have a 'gravity' of 30+ (gravity roughly means the number of affiliates, that have made a sale in the last week).
5. Go to the 'store' part of the Dummies website (bottom right hand corner - ish of the homepage). Look at the left hand column for markets. Choose the market most relevant to your niche. If they have a book on this subject / market / niche you're getting very warm!
6. Head over to forums and search for hot topics within each category... topics that appear time and time again and evoke discussions.  
7. eBay is a great place to find what people are looking for. The pulse sections at eBay will give you a general idea of what people are looking for and what the hot trends are. You should also take a look at the "Want It Now" section. Users can post items they are looking for and having a hard trouble finding. Affiliate marketers have been using eBay to find niches for awhile. You can get some ideas for products to sell or create and find out what people are looking for. If you want to know how to find a profitable niche market eBay is a good start. 
8. Go to the magazine rack of your local bookstore or supermarket and pick out three or four magazines. Start with magazines that you are interested in. Pay attention to the headlines on the cover. What are they saying to grab your attention? Go to those articles and skim through them. Look at the ads. What products or services are those big companies paying thousands of dollars to advertise for? Companies spend hundreds of thousands of dollars researching what people want and who will buy their product. They already know who is going to respond to their ads way before they spend a penny on the actual ad. You don't have to reinvent the wheel, just see what wheels people have already invented and repeat it. For example you may see see ads for shoes, cell phones, satellite tv, HD radio, insurance, cars, computers, watches, diets, natural supplements, clothes, credit cards, golf clubs, etc. Make a list of every product, service or industry that you see. There are affiliate programs for every single one.
9. Go to Google's keyword tool and check that people really are searching for products in that niche, and find keywords that have high search rates and low competition. 

Here's a few of the more popular affiliate marketplaces you might want to search for products on...
http://www.clixgalore.com/
http://www.clickbank.com/
http://www.amazon.com/

Basic Tools for Your Online Marketing - Email Marketing

Whether you have a physical business or you are purely online selling through an online store or marketing affiliate products, there are some basic structures you'll need to put in place to be effective.

The number 1 item which all marketers know is your key to massive income online is an email list. To do this effectively you'll need to have an email marketing system. Professional marketers will tell you that for every person you have on your email list you will make $1/month. So you can see it's in your best interests to figure out very quickly how to build your list if you're wanting to generate passive online income (income ticking over on auto pilot).

There are many programs available but the one I recommend is Get Response. The pricing is highly competitive and it is probably one of the simplest setups I've seen. I was surprised how easily I was able to setup an auto responder/signup form for use on my website, blog, squeeze page, etc.

Of course you'll need an email system to receive your emails on your computer. That could be as simple as setting up a gmail account. Whether you're on PC or Mac you should have an inbuilt email program there as well. So get your email receiving program setup, sign up with Get Response or other similar email marketing program and you now have the basic structure to start driving traffic to your marketing ventures.

The last item in this part of your online marketing structure is the squeeze page. This is a one page website which usually has a bold heading with a call to action, maybe a video of your offer, a signup form and sometimes a Buy Now button if you want to sell directly from this page. The first method mentioned using just the signup form would be to help you build your email list. Later on, you can use these squeeze pages to market a product to your already existing email list. For now you will most likely start out using your squeeze page to build your email list.

These days, social media is probably the quickest method for driving traffic to your squeeze page or optin page, so you'll be needing to setup an account in Facebook, Twitter, Google +, Linkedin, Blog and others. We'll cover that in our next article here.

The Mindset for Making Money Online

Before we go too far with learning the mechanics of how to make money online I thought it wise to discuss how your mind is going to be the one most important factor influencing your success or failure in creating wealth online.

For some time now I've attended numerous internet marketing seminars where there are a lineup of successful marketers speaking about their rise to incredible wealth online. Interestingly, a number of these people achieve a major jump in their income seemingly "overnight". What I have heard from a number of these people however is that this wealth has been either taken away from them or impeded in some way very soon after.

To give you an example, one marketer did a product launch and in one 24 hour period sold $50,000 worth of product. Everything was wonderful until the bank put a hold on all the money that was pouring into his merchant account thereby giving him no access to it all. It took this man 6 months of battling with the bank and lots of money in legal expenses before the bank released the money back to him. At the same time this man had crises exploding in various other areas of his business, with court cases and so on.

There was a practical process the man failed to do and that was to advise the bank before his product launch of what he was about to do. He should have let the bank know in advance that there would be a major spike in his bank account and why that would be. What you must realize is the banks are overly cautious because of the rapid increase in online fraud, money laundering, etc. When they see a bank account which has had only a few hundred or a couple of thousand dollars flowing through it for a long time and then all of a sudden $50,000 appears there overnight, the alarm bells ring and the bank will go into instant shutdown of that account. So, always give prior warning to the bank, Paypal or other merchant facility you're using that you're about to do a product launch which could have a major impact on your bank account balance. It's about prior preparation and keeping your merchant facility informed.

The other aspect of this whole sudden wealth phenomena which is highly possible with online marketing is making sure you have a wealth mindset. This man I referred to above came from a family who always lived from week to week financially and had the mindset of "working hard for a basic living". What some successful marketers don't realize is that their childhood programs from family about what's right and what's wrong could well result in them losing or being prevented from accessing their new found wealth. They have a subconscious mindset that won't support massive wealth. Their subconscious programs will find a way to sabotage any great wealth that comes to them.

The programs running in their subconscious mind from family expectations is such that they will be prohibited from keeping or sustaining this new wealth. We listened to a brilliant marketer recently who was making multi millions of dollars online with only 2 people working for him. Out of the blue the IRS knocked on his door demanding access to all his equipment, records, etc because they believed he was engaging in illegal behavior. There was no definitive explanation from the IRS regarding their accusations, but they were able to make this man's life a living hell for several years such that he lost everything he had built for himself and his family. One day they simply dropped the whole injunction against him with a warning they "would be watching him". He has since made new wealth for himself online, but he lives in a private hell in his mind of what could happen to him again one day.

The important words in my last sentence were "he lives in a private hell in his mind". What the man doesn't realize is that hell was there before the IRS arrived on his doorstep. Somewhere in his subconscious mind was a mindset of being unworthy of holding and keeping multi millions of dollars. He thinks that the attack came from outside of himself, but quantum physicists and mind researchers are now telling us that whatever shows up in our lives is simply there as a result of the sum total of our thoughts leading up to this moment in our life. What most of us don't realize is that 95% of our life is being run by our subconscious mind on auto pilot. We have subconscious beliefs or programs that run our lives for us. To get more understanding of the power of your mindset read this article by Dr Bruce Lipton... http://whatisthemind.blogspot.com.au/2013/05/the-power-of-mind-dr-bruce-lipton.html

So, before you launch into your new career of making money online, cover your bases - keep your merchant account informed of your activities, and do some work on your mindset. There are many techniques available - PSYCH-K, EFT, NLP and so on. Any modality that changes subconscious programs will be advantageous, because it is these hidden areas of your mind that could sabotage your best efforts somewhere down the track.