Years ago when I was first getting started with building online businesses, I came across a little book you may have heard of titled The 4 Hour Work Week by Tim Ferris. In it, Ferris wrote something that played a pivotal role in my decision to stop selling physical products and to start selling information-based products.
Here's what he wrote:
“…there is one class of product that meets all of our criteria, has a manufacturing lead time of less than a week in small quantities, and often permits not just an 8–10 x markup, but a 20–50 x markup. No, not heroin or slave labor. Too much bribing and human interaction required. Information. Information products are low-cost, fast to manufacture, and time-consuming for competitors to duplicate.” (from the The 4 Hour Work-Week)
Years later, I still think about that whenever I get an idea about building a physical product — why would I want to build and ship any-thing when I could build + ship valuable information? After all, inspiring + instructing people with my knowledge and expertise has not only given me money (over six figures annually), but it’s also given my life Meaning and allowed me to develop Mastery level success practicing my skills in conjunction with what I love to do: which is to inspire as many people around the world I can to become better Leaders, Marketers, and Change-makers.
So what about you?
Check out the video below, where I talk about the 3Ms to a fulfilling personal + professional lifestyle. You'll learn exactly what they are, and how to implement them within your life.
All successful entrepreneurs and business leaders know that there are three ways in which you can get paid for what you do:
The goal is to integrate all three into your life… The overlapping of these 3Ms is what scientists + positive psychologists refer to as “a life worth living”.
Take some time to answer the questions below to find out if you’ve discovered + cultivated these 3Ms within your own life (you can download the action guide below).
TIPS, TOOLS, + RESOURCES