Big Money? Get Rich Quick?

Attracted to impressive figures like making 6-figures in one week? Just hype? Or do you still desperately want to believe it’s possible? Here’s my take…

After reading several sales letters in the Internet Marketing arena, we are conditioned to listen to stories of what seems to be overnight success. Stories on how obscene amounts of money were made in a ridiculously short time span.

While it’s possible to achieve that kind of success, the problem is that many people get the illusion that it’s just as possible to get rich quick…

… Without doing any lick of hard work.

In Thinking Big, Donald Trump talks about how the media popularized young celebrities and amazing stories of overnight success, giving young people the subtle idea that they can do it too. They can get rich quick. They can get famous. And do them without working hard for it.

I haven’t met a single successful person who achieved his or her level of success without putting in hard work. Of course, the idea of working hard puts many people off already.

As in the case of making money from the Internet, it’s possible to make the big bucks but only if a solid business system is in place. It’s likened to building a pipe system. It is only when the system is in place, you can start drawing water from the well at the switch of the lever.

The Internet being no exception from offline in this area, it will take time to build a business until it’s solid and self-sustainable. Once your business model is in place and fully working, you too can draw your own wealth from the E-Commerce pie!

EdmundLoh.name is Now a Private Blog

This is a quick announcement to let you know that my Personal Homepage www.edmundloh.name is now set to password-protected. For my own reasons, private access to my Personal Blog is restricted to just selected and close friends.

However, my Internet Marketing blog (which you are seeing now) will continue to be open for public access.

Photos from the Weekend Workshop :-)

An Inspiration That Kept Me Alive

EDMUND: In 2003, I was in absolute deep shit. My parents were divorced. I quit high school prematurely in my final year. And after a turn of events I found myself wandering in the freezing streets of London.

Being in a totally different country and culture for the first time, I still bought myself the daily papers. And in spite of the bad news I kept reading about (not to mention the *ahem* nude pics I would always see on Page 3) one article stood out from the rest. And it quickly became my inspiration to strive for and create my own success, no matter my current circumstances at that time.

FAST FORWARD 6 years later: I was clearing my cupboard in my house in Johor Bahru and as I was going through my old collection and ‘memorabila’s from the past, a familiar piece of newspaper fell out of place. I unfolded it and… gosh, I was soooo sure my mom threw it away with the rest of the old stuff before!

I’m going to republish the newspaper article here; if you’re experiencing the bottom of your life right now - just as I was 6 years ago - I hope this newspaper article inspires you in many ways too, just as it did for me back then.

FROM HOMELESS ADDICT TO BANK MANAGER AT 23

This was what kept me going when I was freezing in London 6 years ago.

RAGS-TO-RICHES LAWRENCE GOES FROM DOSS TO BOSS
The Sun, Wednesday, May 14, 2003

A LAD who fled home to sleep rough has beaten a gambling addiction to become a top bank boss - aged just 23.

Lawrence Brown was 17 wen he quit A-levels and ran away to London to escape £1,500 debts he ran up by blowing £60 a week on slot-machines.

But he now earns £50,000 a year running one of Barclay’s main branches in London’s Charing Cross. He has TWO homes in the capital and his own cleaning firm. Lawrence left home in 1997, after writing his mum Dulcie James a note telling her he had gone to London to make a fresh start.

She begged on TV for him to return home to South Cerney, Glos. But, as he slept on streets and in hostels, he was too ashamed to call.

Last night he told The Sun how he hit rock bottom as he went without food for a week to pay for gambling.

“That’s when it hit home,” he said. “I realised I needed to be a responsible adult and move forward to concentrate on building up a career.”

His rags-to-riches climb from the gutter began when he landed a council flat and a shop assistant’s post at top London store Selfridges.

COURAGE

He then landed a junior job at Barclays before rising to branch manager - first in London’s Leicester Square and London’s Charing Cross.

He also runs recruitment for seven other Barclays branches. But he admits his mum was his greatest boost after he found the courage to get back in touch. He said: “I couldn’t have done it without her. She stuck by me in thick and thin.

“She’s more than a mum - she’s a friend and role model.”

Chef Dulcie, 45, who now advises parents of young addicts, said: “Lawrence wanted to be an accountant but lost his way.”

“He got in a hole financially and did not know how to face me, so ran away.

“But he has done exceptionally well and I’m very proud.”

A Barclays spokeswoman said the bank prides itself on “embracing people from all backgrounds”.

The Sun Says - Page Eight

Private Label Rights: How to Triple Your Profits like Offline Retailers Do

In the last blog post, I explained what Private Label Rights is in a nutshell. The practice of private labeling have been around since the start of the Industrial Age although the PLR concept is relatively new to Internet Marketing just some few years ago.

And even though private labeled products are often perceived to be inferior in offline businesses, some smart companies and retailers have successfully used Private Label Rights to skyrocket their annual sales and profits - up to as phenomenal as 300%!

In fact, a book entitled “The Private Label Strategy” have documented a detailed account on how retailers like Wal-Mart and TESCO do it with private label marketing.

(I’ve also discussed more about it in detail in my PLR Xtreme newsletter which you can subscribe to at http://plrxtreme.com/).

Did you know? Product brands are now competing for shelf spaces even with their own retailers! When you walk into chain retailers like TESCO and Giant, did you notice there are products with these brands on? You see, they have purchased the Private Label Rights to raw materials and ready-made goods to rebrand and sell as their own product.

So think about it:

(a) If the consumer buys a bottle of mineral water from another brand, the chain retailer earns a cut from it.

(b) But if the consumer buys the chain retailer’s brand, it keeps the entire sale!

This may not seem significant but when you factor in volume, it can become quite staggering. These big industry players have reported to bring in three times the annual sales and thus increase their profit margins too!

And how can you do the same for your Internet Business? If you are currently affiliating for other merchants and you have identified which products sell better, you can buy the Private Label Rights and create another “competitor product” to offer to your target buyers.

Again:

(a) If the buyer buys another merchant’s product through your affiliate link, you earn a commission.

(b) And if the buyer buys YOUR product which you have private labeled, you earn ALL of the sale!

Product creation doesn’t have to necessarily tough anymore, since you can just invest in private labeling your own digital products to sell. And giving your customers more choices means potentially more money you can make!