Thursday, June 28, 2007

IMPORTANT: Every cashflow begins with...

Before I reveal the powerful insight, let me ask you a question:

Do you think a woman would jump into bed with a guy before talking to him? Would she "give herself away" without first going on a few dates (or at least ONE date) with him?

Women are not "easy." Well, okay, some women are easy and I've known a few, but I really can't talk about it here because I'm too afraid my Mom would stumble upon this blog!

Anyways, my point is that business is the same. People have to trust you before they can do business with you.

Concretely, this means -- okay, here's the insight so please prepare your mind so that you can memorize this powerful insight for life!

This means "Every cashflow begins with a conversation."

A variation could be: "Every cashflow begins with a conversation among friends."

You can apply this insight to Linkedin in order to advance your career or build your business.

Basically, it means that you should START conversations with as many of your connections as possible.

A great way to start a conversation is to participate in the Linkedin Questions & Answers board.

That's where there's a chance people might reveal more information about themselves and, therefore, where you can start a friendly conversation based on common issues, interests, goals, opinions, etc.

The higher your salary or the higher the price for your professional services, the MORE you need to start a business relationship with a sincere, friendly and respectful conversation.

The tone and the quality of prose of people on Linkedin Q&A also reveal their rank and their career stage. More on this later.

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The ultimate Linkedin strategy!

Okay, folks, I just had my second cup of coffee so here's an amazing caffeine-induced insight:

"The ultimate Linkedin strategy is to tell the world everything you need and everything you got."

This simple strategy will enable you to get the MAXIMUM out of Linkedin. However, "simple strategy" doesn't mean "easy strategy."

To know what you really need in your career or business, requires much self-knowledge and mastery of the business reality you are operating in. To know what you have that is or could be useful to others, also requires much self-knowledge and a solid understanding of your professional or business experience.

I've looked at many Linkedin profiles, and I've yet to find one where the person actually stated what he/she needed to get from Linkedin connections, or what he/she could concretely offer to his/her connections.

Ultimately, Linkedin is like a radio broadcasting station: it's not very valuable if you don't know what you can offer people, and if you don't know what you need from other people.

Sunday, June 24, 2007

How to make money with your knowledge

The following is a series of steps to go through if you want to make money by selling your knowledge.
  1. You must have valuable, practical knowledge. Often, it comes from books, professional experience, hobbies, etc.
  2. You must write down on a piece of paper the "table of contents" of your knowledge. For instance, if you're a marketing professional, you might write a table of content as follows: a) How to segment a market for maximum effectiveness, b) How to design and run a direct marketing program, c) How to recruit a sales force and train / motivate them
  3. You must then develop the Table of Contents into an actual document (white paper, ebook, technical article, executive brief, etc.) that you can send to people who are interested in buying your knowledge. This document can be five pages long, or 200 pages. Quality matters more than quantity.
  4. You must clearly describe the kind of person who would buy your knowledge, in terms of age, educational level, industry, profession, stage of career, benefit sought, etc.
  5. You must develop a strategy to reach the market described in #4.
  6. You must develop and implement a direct marketing campaign to offer your knowledge (in audio, video or text format) to the target market described in #4 and reached through #5.
  7. You must create a Payloadz account so that you can upload your document and enable buyers to conveniently buy your knowledge product online.

How to make money with Linkedin

There are only two steps to making money with Linkedin:
  1. Create a document (audio, video or text) that contains valuable information or practical knowledge. Price it (ex. $10)
  2. Offer it to all your Linkedin connections (or to the ones that you know will appreciate the information or knowledge).
Of course, you can offer your document FREE of charge. Even so, you can make money from it. Here's how:
  1. One of your connections has been looking for a consultant like you, but has ALSO been approached by your competitor. However, upon reading your document, he feels more confident about your expertise and reliability than he does about your competitor.
  2. As a result, he hires you for a project at a fee of $3,000.