Why profits are better than wages

Dan explores some fundamental questions: what is the difference between residual income and linear income in both providing security and motivation?

This is a tough issue.  We are in a culture that has taught us to expect wages for our time.  The person who makes $10/hr wants $12 and so on.  The attorney who makes $100/hr wants to work his/her way up to $200.  Whatever the level, we’re talking about wages, or linear income.  Is your income linear or residual?  Here’s how you can tell.  Just ask yourself this question:  “How many times do you get paid for every hour you work?”  If you answered, “Only once,” then your income is linear – you are making wages.  Salaries offer linear income. Doctors … Read More

Homeless but Classy

Boston artist Kenji Kayayama has started creating high-quality, hand painted signs to replace makeshift cardboard posters typically used by homeless people.  Their original art is used and they are given an opportunity to tell their story.   It seems many of the homeless are trying to find their voice as much as they are trying to solicit for money. Can you imagine the frustration in being homeless?  Not only is there the need to find food and a place to sleep but it often is the ultimate in feeling like a failure. What do you think is the most helpful … Read More

Help us with a name and win this beautiful eagle

Give us a great name and you could be the proud owner of this bronze eagle replica.  Read on….   Do we serve best from a full cup or an empty cup?  People often spiritualize having nothing – that somehow living in poverty is more Godly than having plenty. And yet we know a pure heart and an empty bank account can’t feed the hungry or build a school in Uganda. I recently did a 5 minute video to demonstrate the different ways we may view having “enough.”  I hope you find it stimulating and inspiring. Giving from a full … Read More

Get it out the door now!

Four years ago Steve told me he was writing a small e-book on creative ways to buy a car.  I saw him last week at a seminar and asked him about that book.  He very excitedly told me he was still working on it but hoped to have it out this year.  This Year???   How could it take 4 years to create a 40-page book on buying a car?  I guess he’s still getting it “right.” But that’s a trap I see many people fall into.  They spend so much time getting their idea or product or service perfected … Read More

What’s so special about events at the Sanctuary?

48Days.net member Jack Warren from Illinois posted a forum question, wondering what it is about attending events at the Sanctuary that make them so special.  A reasonable question – isn’t it just one more time of sitting in a seat hearing new and helpful information?  This week we’ll have another gang here for Coaching with Excellence and spots are being filled quickly for another Innovate coming up May 22-23. Let’s just take a quick look at the things that may make a visit to the Sanctuary different from any training event you’ve ever attended.  Here are a few things people … Read More

Fishing for minnows or whales?

I just returned from the Social Media Marketing World conference in San Diego.  Over 80 workshops on using Facebook, LinkedIn, Twitter, Pinterest, Instagram, StumbleUpon, podcasting, blogging, Google+ and YouTube for exploding any company’s growth. But now I’ve been pondering the information.  Where should I spend the most time and effort?  If I look at my customers in a pyramid like this and know that time and resources are limited, where are those resources best spent? Think about your own business.  Whatever product or service you have, you could classify your customers in the same fashion.  It seems that most of … Read More

How can I grow my client base – and make money?

Here’s a question that relates to any online business – whether you’re a coach, a fitness trainer, an artist, a musician, an organic gardener or a fudge maker. Nate from Missouri asks: “How can I grow my client base? I started an online business in February of 2013. It is an affordable way for people to get a Fitness Program and Trainer via the web. I started this because I lost 64lbs and battle with my own disability, Stargardt’s Disease. I am a Trainer and use all this to help people. But I am struggling, as my budget is low … Read More

PhDs on Food Stamps

Okay – here’s some sobering statistics.  For years I’ve been talking about the limited value of many academic degrees.  In the second presidential debate back in October, Governor Romney said 50% of last year’s college graduating class were either unemployed or seriously underemployed.  Know any MBAs who are delivering pizzas? Yeah, so do I. On The Dave Ramsey Show it’s consistently student loan debt that tops the list of crippling factors for people struggling to get by. The real question employers want to know is – what are your marketable skills?  How can you help our company get ahead?  They … Read More

Tomato Sale – Today Only

Here’s a great little story – and also, a great marketing twist you can use in your own business. A grocer put up a sign that read “Tomatoes, 25¢ ea.–three for a dollar.” All day long, customers came in exclaiming: “Don’t be ridiculous! I should get four for a dollar!” Meekly the grocer capitulated and packaged four tomatoes. The hardware store owner next door had been watching this happen again and again and finally asked the grocer, “Aren’t you going to fix the mistake on your sign?” “What mistake?” the grocer asked. “Before I put up that sign no one … Read More

How much should you charge for your services?

How do you price your services to profit and stay in business?  In our Coaching With Excellence conferences we spend a significant amount of time addressing how to price our coaching.  And it always opens up some interesting conversations. If Joanne and I are in the mood for fish here where we live in Franklin, Tennessee we can go to Captain D’s, Red Lobster or Bonefish Grill. Chances are they buy their fish, vegetables and drinks from the same suppliers.  But we are going to pay $10, $20 or $40 for that fish dinner.  Why the difference when we know … Read More