Don’t Tell Me How To Run My Business!

by BIG Mike Banned 23 replies
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#main internet marketing discussion forum #big mike #business #don’t #purchase #risk #roi #run #vendor
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  • Profile picture of the author Chipt
    Hey, BIG mike -

    My "Non-Comment" on your "Non-Rant" here is to Rock On BIG guy!

    Too many people act 'mindless' too often and let others drive their business instead of having the determination, diligence, and guts to invest the time and resources to do it themselves.

    Just my Non-Comment on your Non-Rant -



    Chip Tarver
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    • Profile picture of the author Keith Boisvert
      Great post. When I owned my offline business Iused to get 'pushed" by vendors alot.

      They of course would have this "great" deal if I bough X amount of their product. Being a large vendor and not wanting to lose them, I did buy the first time. Impulse I guess, fear mostly.

      I got a great deal alright. In the retail business I was in, if I made 30% I was lucky. This "deal" allowed me to make 45%. However, there were things I didn't think about...
      • Initial excess money tied up while I was waiting to sell these
      • More ad dollars to promote the exceess inventory
      • cash flow interruption
      I struggled for 2 months trying to dump this product, so I could the cash back into my "cash flow". By the time was done, the extra 15% I made ended up being 3%, because of advertising, floor/warehouse space, and I tossed in a few % because of stress.

      So yes, only YOU know your business. And if YOU don't, you should. Whether offline or on, you should know what you make, where you make it, cost of doing business on a monthly basis, average cash flow, cost to implement or launch a new product, etc.

      Once again, great post BigMike

      ~Keith
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      • Profile picture of the author Andyhenry
        Hi Mike,

        I am on the same wavelength as you with this.

        I see this so often when people IMers offline - you can tell right away by the language people use where their perspective is. Too often it's in the IM details and they think they're being creative but in fact they just have a limited perspective and don't realise that IM is just one medium for leveraging resources to support your business.

        It reminds me of when I was learning electronics years ago. The first things we learned were the basic elements that went into how a resistor, transistor etc were created (silicon doping etc.) and then we learned how to design a basic amplifier, and you felt great that you now understood how amplifiers worked and could design one.

        It was only a year later that when you came to actually build an amplifier you were told "well the theory you learned was basically right but it was to convey the understanding - in reality you can't build one like that, it wouldn't work", and you were then told about thermal runaway and other factors which meant you would actually have other things to consider before actually building a good amplifier.

        Lots of people take in a bunch of IM information and then think they understand how to build a successful business - but they don't realise that in the real world, many of the things they believe to be 'best practice, are just not sensible or even advisable.

        Quite often when I go to seminars for IM I see someone talking about their 'model' and I see many aspects that I think "I wonder if they've considered ......." and when I talk to them - yes they had (of course) and there are good reasons why they've ended up with the model they have (because it works).

        You're right Mike - You are the only person who knows what is best for you and your business. There's a lot of value in learning from others and getting input, but usually when you know what you're doing and people approach you thinking you're leaving money on the table - it's just a reflection of the fact that their ego is bigger than they realise and they didn't take the time to check out what your perspective was.

        Andy
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        • Profile picture of the author sparrow
          Business has been running for centuries well before us. Tried and proven methods have worked and always will work.

          So I have to agree with you every person needs to look at what works for them.

          Many times I see new people missing the basics, like list building in this business etc...

          But after you have your basics down its a matter of fine tuning what is working for you, chasing the next greatest thing is B.S. unless it adds directly to the bottom line.

          What I am seeing is people abandoning their core business in favor of a new model without actually testing of even thinking period, sad many times diamonds are in your own back yard.

          So Mike yoooou are so right

          Ed
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          • Profile picture of the author grumpyjacksa
            In a local TV series this VERY TRUE expression came up regularly.......

            Some people think they're so @#$%^ smart, and actually they're not as @#$%^ smart as they think they are . ( The guy saying that came across as a not-too-bright character )

            That's why i said it before and i'll say it again : If you haven't been there, you can't talk.

            and that goes for anything in life.

            if i want to climb a mountain, i'll only accept advice from someone who has done it. no-one else is qualified to prepare me for what might happen.

            so........

            if the "pusher" is a qualified business analyst, he would be able to see why you do things the way you do. and any advice given, would make sense to you.

            am i right ?

            or am i right ?
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    • Profile picture of the author Corwinnx
      Big Mike,

      I had a similiar situation happen to me the other night. An 'inebriated' acquaintance asked to see an example of my copywriting. I let him see one of my smaller 'niche' websites. Not a lot of traffic, but the traffic it does get has good conversions. This is a particularly small niche site that I have and it's target is the 'down home, country folk type.'

      Remember now, that what he asked to see was an example of my 'copywriting'. But within two seconds of looking at the site, he had decided that my graphics looked canned and insisted that I just 'justify left center' the entire page.

      He then proceeded to tell me that I made it too easy for people to give me their information and told me that I needed to get rid of the pop up opt-in.

      Told me my site looked like a geocities site.

      His final, unrequested, critique was to tell me that he saw sales letters like this all the time and he chose to go elsewhere because they all look alike.

      Of course, as he gave his opinions, I responded appropriately with my reasons for my layout and design:

      Centered,- give the person too many choices and they wont make a decision at all. The confused mind doesn't buy.

      Canned graphics- this particular niche site needs to convince it's target that even a simple lil ole' geocities site can help them better their lives.

      I made it too easy for people to submit information???!!! Oh the horror... Well there's a lesson for Listbuilding class 101, make it difficult for people to opt-in, cause that's that'll really convince them that your easy plan to change their lives is just perfect for them, (does that read as though it's dripping with the sarcasm I'm actually feeling as I type this?)

      Finally, it looks the same as all the other ones? Gee, could that be because


      IT WORKS???

      What a concept.

      This guy is 22 years old, is a locksmith, claims he owns the company, makes a whole 35k a year and graduated college at 18 with two degrees, one in engineering and one in education.

      Notice that those degrees are not in marketing or business, if the degrees are even real, which I doubt.

      Of course, I had to snicker at the 35K per year. I don't make even that much with IM yet, but my offline biz makes me about 150K a year, so I tend to know a bit about business and marketing. shh... dont' tell anyone, but I have some experience with finance too. And oh yeah, he was quite proud that he was making 35K per year at 22. I told him if he wanted to impress, he'd need to be a millionaire by 30.

      Although the conversation started off about copywriting, not once was the copy ever mentioned.

      When he continued to repeatedly tell me , 'no no no, you need to listen' I pointed out that I have listened to people who are experienced in my field, Mike Filsaime, John Reese, Frank Kern.... he replied with 'all people I've never heard of.' Nothing further Your Honor...

      So, Big Mike, I guess you and I both should stop associating with intoxicated people, LOL. Sorry if I hijacked your thread.

      -Marcus
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      • Profile picture of the author BIG Mike
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        • Profile picture of the author Bev Clement
          Mike did anyone tell you that you're a spoilsport :p

          Do you mean we can't say to you no more drinking beer, ouzo, sitting on the beach eating wonderful Greek food is the way to run a a business.

          Now I have to think up a new game plan for you.
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          • Profile picture of the author Chipt
            I still think that "Until you've walked a day in my moccasins" adage is useful today...

            Chip
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            • Profile picture of the author BIG Mike
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              • Profile picture of the author Chipt
                Originally Posted by BIG Mike View Post

                In all seriousness, that's dead on brother!

                You know, another thing that makes me laugh (and spit beer all over my keyboard) is when someone comes out of nowhere and says, "You're not making any money" or, "You don't know how to run a business." That cracks me up.

                They're more than welcome to walk even half a mile in my sandals to see what my life is really like.


                Hey, BIG Mike -

                Thank you for your comment...

                There are so many posers around hiding behind their big monitors, fancy keyboards, and anonymous BS... so...

                One sure way I judge people is simply by listening to them...

                The bozos always set themselves on fire with their BS and rhetoric [gosh that also sounds a lot like politics...] ... And one thing I have known for decades that has NEVER failed me one single time...

                "Those with the most to hide speak the loudest."

                [That keeps the attention off them and on 'the accused' - and the posing continues till the poser is backed into the proverbial corner with indisputable facts... and then they usually slobber all over themselves. ]

                Just my 2 Lincolns -

                Chip
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                Improve your online success permanently right now. Joint Venture Masters tell you the real insider info. Save $450 right now by checking out my *limited time* FCS WSO and change your JV success in a radical way permanently at http://www.warriorforum.com/forum/to...OPIC_ID=264511... and for less than $20 you can really save up to half your gasoline costs at www.CutYourGasCostsNow.com.

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          • Profile picture of the author BIG Mike
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            • Profile picture of the author Bev Clement
              I was being kind to you and not letting on about all your secrets :p

              It is terrible the things you have to do for the sake of business in Greece but someone has to do it, and Hong Kong is a little too far away

              Originally Posted by BIG Mike View Post

              Firstly, that's sitting on the topless beach and hey, someone has to do it.

              You've no idea the sacrifices I make here - it's not easy sitting at the beach all day drinking beer and ouzo, eating Gyros and staring at the scenery all without an Internet connection

              So I sacrifice myself for the greater good of the Warrior Forum!
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              • Profile picture of the author John Taylor
                Mike,

                Thanks for the recognition.

                The online environment offers the ability to make
                instant purchases and to gain immediate access
                to products and services. That's fine from the
                point of view of the consumer.

                However, we are business people, we should be
                making informed purchasing decisions and not
                looking for instant gratification.

                John
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                • Profile picture of the author Corwinnx
                  John,
                  Thanks for the reminder... the little snit also tried to tell me that he was trying to give me the view of the 'educated consumer.'

                  I responeded that I wasn't targeting the pompous, arrogant I-know-everything about life at the ripe old age of 22 crowd.

                  His response: So you're trying to rip people off.

                  Will someone please tell Wal-Mart that the next time a person of low intelligence buys something in their store, that they've just ripped him off because he wasn't an 'educated consumer.'


                  And I woke up in such a good mood today after having completed a book in one day yesterday. My record time, and I did it all by me onesy too.

                  -Marcus
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                  • Profile picture of the author HeySal
                    Thanks for saying that Mike. I get worn out on people that think I can run my website for rockhounds just like any other IM market. When I say "that doesn't work for my crowd" that is what I mean, leave it alone. You don't know my crowd until you get out your damned rock pick and get into the dirt with them. If I don't see you out there digging, you don't have anything to say to me. If I'm going to listen to suggestions about my marketing - it's going to be from my site members. I consider them much more in tune to what they want than some IM wannabe who can't even see that you place on google page one for a bugillion keywords before telling you they can do better for you (whatcha gonna do, bring em to my livingroom?)

                    You kind of nailed on the head why I stay out of the IM niches - too many people who can spit out crap from too many ebooks, but seem to be able to apply or understand nothing.
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                • Profile picture of the author JayXtreme
                  Mike...

                  But you really are leaving money on the table if you don't JV wit me

                  Great post Mike... really good stuff

                  Jay
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                  Bare Murkage.........

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                  • Profile picture of the author Corwinnx
                    John McCabe,

                    Prostitution may be the worlds oldest profession, but sales is and always will be it's most profitable one.

                    And dude, I'm serious about that fish.. maybe we need a weekend bone fishing mastermind session in Islamorada.... And I think October is Mahi season down there isn't it?

                    -Marcus
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                    • Profile picture of the author Steven Wagenheim
                      Mike, your post gave me the biggest chuckle of my day LOL.

                      Here you are saying that nobody should tell you how to run your business and
                      for months people like you, John Taylor, Andy Henry and others have been
                      telling me that I work too hard and that my business model was not efficient.

                      And the ironic thing is, eventually I realize that you ALL WERE RIGHT.

                      I am now in the middle of drastically changing how I run my business and
                      will have my first membership site up by the first of the New Year, if not
                      sooner.

                      So Mike, no offense, but sometimes people DO know better and SHOULD
                      tell you how to run your business.

                      Had I not listened to you and John and Andy and others, I'd be slaving
                      away 14 hours a day for the rest of my life and kicking myself inside my
                      coffin for doing it.

                      Now I have to stop typing because I can't stop laughing.

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                      • Profile picture of the author BIG Mike
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                        • Profile picture of the author Steven Wagenheim
                          Originally Posted by BIG Mike View Post

                          LOL Steven - but that word I put in red is what makes the dirfference. You didn't run right out and start making changes left and right just because we told you. As I recall, you fought us tooth and nail on the suggestions, LOL.

                          And I'm willing to bet you're not just making any arbitrary changes now are you? I'd bet John Taylor's PhD. that you've looked at this carefully. :p
                          So true...we can so be our own worst enemies when we are stubborn and
                          resist change.

                          I should have looked at this carefully a lot quicker than I did.

                          But I wouldn't go around betting John Taylor's PhD if I were you. He just
                          might still need it someday if the Internet falls into a black hole
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                          • Profile picture of the author myob
                            I make it my business to tell others how they should run their business. We call it "best practices".

                            Just because you have an IM business on the internet doesn't mean you can ignore standard business practices. We saw this happen in the 1980's with the dotcom bust. People lost millions because they had inflated expectations of internet marketing. And many still do.
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                            • Profile picture of the author MizzCindy
                              Yeah, baby! This is a priceless bit of guidance, BIG Mike. Thanks for posting. There's a wealth of information here.

                              Here's a note for others - I've taken the liberty of pulling several words/phrases out of Mike's initial post. If you don't know what these things are/or if you do not understand their role in your business, then STOP WHAT YOU ARE DOING! Go do some research right now!

                              Here's the list (a business education for free, from BIG Mike):
                              - earnings
                              - cash flow
                              - implement
                              - test
                              - track
                              - ROI
                              - cost of implementation
                              - budgeting
                              - business plan
                              - goals
                              - cost
                              - debt
                              - skill level
                              - timing
                              - workload
                              - risk

                              The above list includes just some of the basics necessary to build a solid business. I truly hope people walk away understanding how important they are!

                              Thanks, again, BIG Mike for the non-rant and the business education!
                              Cindy
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                            • Profile picture of the author BIG Mike
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                              • Profile picture of the author myob
                                Originally Posted by BIG Mike View Post

                                - following best practices is the ideal way to fly.
                                Sometimes people forget. Thanks for the reminder and a GREAT post!
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      • Profile picture of the author JohnMcCabe
        Originally Posted by Corwinnx View Post


        This guy is 22 years old, is a locksmith, claims he owns the company, makes a whole 35k a year and graduated college at 18 with two degrees, one in engineering and one in education.

        -Marcus
        Hi, Marcus...

        I don't have the degree in education, but I do have one in engineering.

        One of the big reasons I made the switch to sales and marketing was the fact that, at least in the company I worked for at the time, the top sales guys drove much nicer cars and lived in nicer homes in better neighborhoods than us engineers.

        The clincher came when the company moved its manufacturing, and engineering staff, to Juarez, Mexico. I was replaced by a very nice Mexican fellow who was thrilled to be making $7/hr (late 80's). Strangely enough, they kept the sales and marketing guys through the whole transition...

        Mike, you're spot on.

        That post could save some folks a few credits' worth of tuition at B-school. Opaaaa!
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  • Profile picture of the author ibringjoy
    What a great non-rant!

    There are valuable lessons here. Plus, the way you spelled it out makes me feel less guilty about telling vendors "NO" when I don't think it is the right thing for me. They have a way of making you feel that you must be wrong, even if you are sure that "NO" is right!

    Kathryn
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    • Originally Posted by ibringjoy View Post

      What a great non-rant!

      There are valuable lessons here. Plus, the way you spelled it out makes me feel less guilty about telling vendors "NO" when I don't think it is the right thing for me. They have a way of making you feel that you must be wrong, even if you are sure that "NO" is right!

      Kathryn
      Exactly. I think there's a good lesson to be learned here. Vendors are in it for themselves; they do not have the information to make good business decisions for me.
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