This thread is inspired by a conversation I had few days back with one of my previous students.
He asked my opinion about an expensive product which consisted of some 'business in a box' kind of products, some software and a lot of ebooks with MRR.
Since he already had a lot on his plate, plus he hadn't finished what he promised he would, in one of our mentoring sessions. I asked him this.
"Whatsup with the stuff you were supposed to have finished this week?"
*stuff being the task previously decided of course
His reply was something along the lines of
" Oh yea, I'm working on it... I just got busy because xxxx happened and then I got stuck in xxxx, but once I'm done with xxxx, I will definitely get the stuff done and let you know. But what about this awesome [insert expensive product here] I want you opinion about?
You see where I'm going with this yet?
I know a lot of newbies who do the same thing. They buy, and buy and keep on buying the awesome product which looks like the answer to all their troubles. Financial troubles at least.
I don't know who coined the term 'shiny object syndrome' but I think its perfect in this example.
Also, I think it was Bryan Kumar who said and I'm paraphrasing here " The money you make online is directly proportional to amount of paypal/payment buttons you've got out there"
So how will this save you a lot of money in 2011 and will probably make you a lot of $$ too?
Simple. Here is what I teach my students to help them making buying decisions when they see a product.
Buying new products/courses/tools is awesome if it helps you take you business to the next level BUT here is a simply rule I personally follow when I buy a new product.
I ask myself these questions.
Will this help me IMMEDIATELY?
Does it fit in with what I'm doing right now?
Will it sidetrack me from my current plan of action or will it actually help me with it? enhance my results? help with what I'm working on right now?
You see I've saved anywhere between $5-10k in 2010 by following this simple rule alone.
I realize this is getting a little too long and I wouldn't want to bore you so here is the conclusion.
This came from one of my early mentors, Randy Smith. He always had this little blurb in his emails saying
"Only buy stuff that is going to help you immediately, not stuff that might someday."
This will save you a lot of $$ that you'd have wasted - think all the stuff that is sitting on your hard drive right now that you haven't touched, or used.
And it will help you make a lot of money in 2011 by helping you buy only quality stuff, it will help you focus on what you are working on at the moment automatically increasing productivity and delivering much better results.
This is to your success in 2011.