So here it is…my first real podcast. I probably broke ever rule in podcast etiquette hehe but here goes!
This podcast is actually based on a guest post I wrote, Every One Promotes, a few months ago at Glenn Danker’s blog.
I already know how much I suck at speaking and it juices me to know I can at least improve!:)
One of the better books I’ve read on money: Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
Until reading this book I had never heard of a money blueprint and didn’t know what it was. Eker uses the money blueprint as a metaphor for your subconscious programming towards money. Take for example these people who can loose billions one day and gain it back the next. And then consider people who win the lottery, and months later they’re back where they started…broke. Is it that not everyone can make the kind of money to build wealth? Do billionaires have skills that millionaires don’t and do millionaires have skills that the middle-class don’t? Eker takes the responsibility off of skills and onto behaviors and attitudes. The fact is we all have a set level in our money blueprint. For some it’s $2400 per month for others it’s $2400 per day! We all act consistent with our money blueprint. If your money blueprint is $50,000 a year you’ll probably end up working a job making around $50,000, get a degree that only gets you a job working for that much and work extra or lesser hours to fit that figure.
How do you find out what your Money Blueprint is…look at your bank account, look at your yearly income, how about your net worth. The symptoms, job..income..debt…net worth..etc, will tell you a lot about your blueprint.
What does the thermostat in your house do? When it gets too cold the heat kicks on, when it’s too warm it shuts the heat off. Lets say you set the thermostat to 22 deg, when the room temperature is say 18 deg the heat will kick on until it’s 22 deg. If it’s a very hot day, the furnis wont come on. Thing is, the same type of mechanism works with your financial thermostat. If, for example, your financial thermostat was always set to having $900 left over at the end of every month. One month you get a bonus, or sell a car, or inherit some money. Now your brain says, “WOW I’ve got extra money, lets buy a new widescreen/car/pool/shed” You will probably spend until you have around $900 in you account…why? Because somewhere deep down you’re working hard to stay at that level. You could say, “well they’re just bad with money” true but not true. Lots of people are bad with money, but somehow they seem to divert to the same level they’ve been set to. Why is it that Doug gets promoted to a higher paying job, making almost twice as much as before, but eventually moves back to his old job using excuses like “it’s too much work/too much of a pain/really hard to adjust to” His brain is really saying “It’s WAY too hot in here, turn off the heat”.
So what happens when Average Joe makes too much money, say he inherits $50,000? He tends to party and get contentious, until he runs out of money or hits his set level once again. What if Rich Jack had only $50,000? He’d feel broke! He wouldn’t spend a cent until he worked himself back up to his level(maybe in the millions)! Is the difference skills? NO! The difference is that Average Joe has a $3000 a month standard and Rich Jack has a $100,000 a month standard.
We don’t monitor our thermostat consciously. Most of our behaviors and choices are made subconsciously.
“People’s regular behaviors make or break them” – T. Harv Eker
You change your Financial Thermostat by recognizing how your childhood beliefs about money have shaped your life and then decide to set new standards for your life. If you grew up in a regular family you probably heard your parents, teachers, friends, neighbors bash rich people. You read in the paper and heard on the news about rich people who were thieves or extortionists. If you decided to grow up as a honest person, and you had mixed feelings about the rich, you’d avoid ever getting rich. RIGHT? On top of that we all have heard these cliches, basically mantras for poor people: “you can’t be spiritual and rich”, “if I had a million dollars I’d give it all away”, “If I had a million dollars I’d buy a private jet”, “they’re a bunch of rich snobs”, “But I’d be bored if I didn’t work(aka I’ve worked paycheck to paycheck so long I don’t know how to do anything else)”, “If I can’t buy a limo why should they?”, “If God gave me a million dollars I’d buy five Ferrari’s”(in that case I hope God doesn’t give money to you.) I have news for you, 98% of everything you’ve heard about money is total and complete bullshit! Do this if you want to be rich: Stop listing to people who have no money and go find millionaires and hang out with them, listen to what they have to say about money.
If you haven’t read Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth
I was reading some comments on YouTube that was posted in response to a Brian Tracy video. These people didn’t understand how they could use Brian Tracy’s teachings in their employee jobs. Someone said, “Doesn’t this stuff only work if you’re a boss?” The answer is simple, YES.
Until you’re your own boss or work on percentage increasing your productivity won’t matter a whole lot. All these tapes and CDs and seminars and books on wealth, money, productivity, self development, leadership and marketing are directed at people who have seen the potential of working for themselves. The majority of self made millionaires are entrepreneurs who own a business or make money based on results. If they don’t run their own business they work on commissions. There of course rare cases where you hear of a story of the multi-millionaire firefighters who saved 10% of what they earned and invested it over the period of 20-30 years. And of course you can use leadership principles in any position, whether you’re a janitor or a CEO.
No one’s to say you can never be an employee and be a millionaire. It is possible, but always consider the glass ceiling on your income as an employee. It’s the truth that working for time instead of results will guarantee you almost never become rich, unless you make sure you charge very well for your time. In Alberta anyone making more than 40K a year working at a job will pay so much in taxes that the first 3 months of the year is spent paying taxes. People making 80K a year pay almost half their yearly income in taxes(just slightly exaggerating) and make around just as much as a person earning 40K or less, in yearly income. Is this how the rich are taxed? No…rich people understand that there are legal loop holes around taxes. Rich people understand that business are taxed differently.
Entrepreneurs have a set of priceless tools, it’s called leveraging OPM(Other people’s money) and OPT(Other people’s time). It’s called working smarter and harder instead of working harder with the same level of thinking. It’s having 2400 hours(team of 100 people) a day instead of just 24(individual). Entrepreneurs understand synergy of teams: 1 person + 1 person = mind power of 3 individuals, 2 people + 2 people = mind power of 10, 5 people + 5 people = mind power of 20.
Entrepreneurs are “creatives” who create their own world of income. Employee’s are “straight salary or nothing.”
David King is a 20 year old blogger, and Social Media Junkie. David is quick to say that he’s not an overnight success, by any stretch. Early in his childhood years he showed an interest in business and later on moved out on his own as a salesman. Sales wasn’t one of his passions, and he eventually quit. He had to get a job as a meter reader to pay bills and get by. Eventually David got sick of working a dead end job and decided to go after his dream, to be an Internet marketer. David now writes a blog and has built quite a following on Twitter, Facebook and his newsletter. David is now a full-time coach and has two Online products. I was impressed at what David was doing (and at his age) so I decided to catch an interview with him and share it with my blog readers…
David, welcome to my blog and I want to thank you for taking this interview and sharing a few things about yourself. You’re quite well respected in the Online business world and I know your time is important. First off, would you tell us a little bit about yourself, where you’re from, what you do, how long you’ve been in the Online marketing industry etc?
Thanks so much for having me! I appreciate that you would interview me and share this info with your readers! I am from grand rapids Michigan originally which isn’t known for much… Floyd Mayweather and Amway come from Grand rapids and that’s about it! I moved to Detroit area with a marketing company and in that company I sold door-to-door and business-to-business on 100% commission at the age of 18. It was an experience to move out on my own and the first job was 100% commission so it was pretty stressful and I needed to learn how to sell in order to eat! I quit that job because it wasn’t for me and I wanted to pursue Online marketing. I then worked as a meter reader for about a year while I started blogging at what is now http://Davidbeking.com and I started building up a following in social media along with my newsletter. I have since quit my job as a meter reader at DTE and am now working full-time from home and have 2 info-products at http://trafficod.com and http://twitterinfluence.com and I teach people how to build their social brand Online. I first learned about Internet marketing when I was about 13 years old, I got a course from Corey Rudl and was excited that “I could make money online” and since then I have been learning and trying new things Online. Now it’s full-time with coaching, both info products and affiliate marketing.
WOW, You’re been very proactive! I’m very impressed at anyone who has the guts to knock door to door in the first place. I think it’s great that you didn’t stay as a meter reader, because as you know, lots of people fall and never get up.
I read on your blog that you’ve been scammed a few times and have been ripped off here and there. I think it’s almost inevitable if you’re in business long enough. I also notice your drive to never give up. What motivates you day by day to continue on and not give up when life pushes you down?
I’m motivated by living life once (That I know of)! If you don’t go after what you want you may never get too! and I do not want to look back and say “I should have at least tried that” failing is inevitable and those who have failed most have the biggest successes so I look at failure as a sign that I’m almost there. 
That’s the same way I look at failure as well. To me failure is a opportunity to develop my sense of humor, perfect my skills and to “get experience”.
What are the different types of Online and offline business systems have you tried and which ones have you found to be the best, in your opinion?
I have tried a lot, I do internet marketing with my own products, affiliate marketing, MLM, Adsense, cash gifting, and more. To be honest I don’t remember everything! there has been so much! I like info-marketing, affiliate marketing and MLM the most. I like to create my own business over being an affiliate or middleman because I’m a passionate entrepreneur that likes every step of the business building process.
Growing up, what type of people did you surround yourself with? How did you get interested in business and marketing at a young age?
Good question, growing up I hung around a couple friends in my neighborhood and generally people that I just got along with! I surrounded myself with people who I thought were cool (at that time) lol. I got interested in business and marketing at a young age because I wanted more then I had growing up. I grew up in a lower-middle class family and “money was always tight” so I wanted “Money to always be free” So naturally I was drawn to be an entrepreneur and make money on my own terms instead of having a boss.
What is the reason for started blogging? I myself am not very good at writing or grammar, I often spend a lot of time with the spell checker. The reason why I continue to blog is because I feel that whether I’m an English major or not, I hope that the communication is prime and shows through and that I can teach something. You seem to have a lot of passion and it shows through your writing and other media you use. What exactly is the purpose of your blog?
I started blogging because I want to be a bestselling author and speaker! So I figured the blog would be the best way to get practice and build up a follower base so that when i do release a book, products or have seminars I can mail and blog about it so that I can have more opportunities to speak and teach what I love teaching and doing!
I’m curious to hear what you think about other forms of media other than Online and social media. Does mass media still have a place? Can it still be used effectively in certain cases? How is social media different and how have you used it to promote your business?
Media still has it’s place, Social media is just the new form of media that a lot of people are jumping in and testing. Mass media still has it’s place because big brands have been branding through them for decades and all of that branding pays off! it’s commitment and consistency to their brand. When I think of tissue I think of Kleenex and when I think of soda I think coke. I think media will always have some place but I think Online is growing and Offline media is slowly shrinking. Social media is great for me in my business because i can interact with people through Twitter, FaceBook, LinkedIn and other social sites and help them out, give them advice and that’s how I can get people to become paid coaching clients or product buyers or want to partner with me.
You have a live show every week. Does this make you stand out in any way and what are the benefits of the show as opposed to blogging or social networking?
I had a live show every week but have been busy lately and am looking for a new laptop! The live show is awesome because it’s a great way to connect with the people you already connected with in social media on another level. I love it because anyone can blog or write about business and sound extremely intelligent but when you’re live on the spot and it’s all off the top of your head that really proves it. Being live is exciting for me because I love speaking and it’s also good practice and a great way to deliver value to continue to build my brand in this competitive Internet business/marketing space.
Who are a few people that inspire you at the moment and who inspiring you in the very beginning? Any books, CDs, speakers in particular on social media? Any pure business books? How about self-development?
There are so many people that inspire me I couldn’t even begin to list them all here. I love inspirational/motivational speakers like Tony Robbins, Les Brown, Brian Tracy, Zig Ziglar and so many more! great authors like John C. Maxwell, T Harv Eker, Robert G Allen, Robert Kiyosaki and so many more! there are a lot of people in business that I look up to! I would say that anyone who does what they want to instead of what they’re supposed to do in business is inspiring! I look up to a lot of people that are innovating business as we know it. The one’s who change the game and are forming new ways of doing business and are on the cutting edge.
In your opinion what are a few reasons people fail(other than give up) to build a successful Online business? Do they enter Internet marketing with the impression that it’s easy or there’s a quick buck to be made? What are a few reasons that you’ve witnessed, would you share them?
People fail because they never get started. One of my friends Justin Brooke has some profound words about that… he said: “I started growing my business when I stopped buying courses and started buying traffic.” People need to use CANI and FAFT and be resilient in their business. Know what you want, take action and go for it then don’t quit until you get there! Be a bulldog.
I haven’t had a chance to take a look at Twitter Influence yet. Would you tell us a little about the material? Who is it for, why did you get it out there and what’s it all about?
Twitter influence is all about growing a business, brand and presence on Twitter that has influence to drive traffic and build your network. The reason I created the course was because I love twitter and there is so much power in it for your business if you learn how to utilize it efficiently and that’s what I teach people how to do. The course is for people who want to use twitter to grow their business to a new level, It’s for people who want to use twitter to network and get free advice and make new friends. The course is what I use daily to grow my network, drive website traffic and make new friends. I also have gotten several free gifts from friends on Twitter!
Please give us some direction on how to get started on Twitter and using social media. What’s the first step? I’m already on Twitter obviously but I’d like to hear it from a pro
There are 3 basic steps on Twitter and on any other social media site to be effective in your networking and marketing. The first step is setup and optimization. Setting up your picture, background and description on twitter is that and in FaceBook it’s the same. If you can share your picture and what you do and who you are do it! A lot of people setup their accounts halfway and they are not nearly as effective. The second step is finding your target market, find the groups communities where your ideal consumer would hang out! the third step is to interact and connect. Follow them on twitter, add them on FaceBook and introduce yourself and start a conversation, it’s as simple as that! finding your target market and getting to know them are repeatable steps that you want to do over and over and over to continue building your brand and presence Online to ultimately grow your business (and make a few friends in the process)! My suggestion is to interact as often as you can. Keep building the relationships with your current network and continue to grow your network. It all gets better and better! your site gets more traffic and your network grows and opportunities come from all of this!
Thanks for the opportunity Clinton! My site is http://Davidbeking.com and on Twitter I’m at http://twitter.com/davidbeking if any of your readers want to connect with me!
We share life experiences and discuss developing leadership skills, discovering better methods of growth in business, goal setting, personal growth and self-education. We also talk about lifestyle and making money.
