February 23, 2007

The Templeton Plan – Notes from the Book

Posted in Uncategorized at 1:23 pm by John Roney

Sir John Templeton is one of the most successful investors the world has ever seen. I am reading this book for the second time in more depth because I believe studying what a successful person has written will help me become more successful as well.

 

John Templeton is a billionaire and so it seems good to read what he has written, especially when you can buy such a book for $7. How is that for value: the advice of a billionaire for $7?

 

That’s one of the reasons reading is so important. You can discover lessons that successful people have taken years or even lifetimes to learn and they distill it into a book for you to read and learn from and apply in your life.

 

Introduction to The Templeton Plan

“John Marks Templeton, regarded by Wall Street as one of the world’s wisest investors, is the founder of the Templeton mutual fund group, which now manages more than $6 billion owned by more than 500,000 public investors. He started his investment career on a borrowed $10,000 and thus is a living embarrassment to the efficient market theory, which holds that you cannot start from nothing and end up with a large fortune in a single lifetime.”

Talk about providing value—500,000 investors trust their money to the Templeton fund. That is massive value to massive value. The first thing this makes me think is that helping people grow the money they have is a valuable skill to have, and also, a service that many people need.

  • Templeton believes that successful investing is a product of a person’s overall relationship to life and to the universe. He believes that God created the universe and is continuously creating the universe. While many people hold that financial success is separate from religious belief, that there is a conflict between the two, John believes with conviction that the two are related. He contends that the most successful people are often the most religiously motivated.
  • At the Templeton group, all of the directors’ and shareholders’ meetings open with prayer. But they don’t pray for specific investments. Templeton says, “What we do is pray for wisdom. We pray that the decisions we make today will be wise decisions and that our talks about different stocks will be wise talks.
  • If you had put $10,000 into the first Templeton fund in 1954, your investment would have grow to more than $800,000 by 1987 with all dividends reinvested. That’s the combined power of compound interest and wise decision making. Wow.

    “Backed by our beliefs,” he says, “we’re not so uptight and on edge as those who are in the business merely to make money. We start each day by setting our minds on the important things and praying. All our transactions are influenced by that.”

Business by Christian Principles

“There are businesses that apply the un-Christian principle. They ignore the human factor. They lack the wholehearted desire to offer better service and higher quality at lower prices. More often than not, those businesses fail. In general, people who take advantage in their dealings will get a bad reputation and before long others will not want to deal with them.”

The purpose of The Templeton Plan is to reveal the vital connections between the belief in religious principles and belief in oneself that will enable you to become a successful and happy person.

For each of the following lessons, keep three questions in mind to ask yourself:

  1. What do these ideas really mean?
  2. How do they apply to my own life?
  3. How can I use their meaning in achieving success?

There is no reason that this plan which worked for John Templeton and many others will not work for you. Put it to the test.

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February 22, 2007

Great Internet Marketing Call w/ Stu McLaren

Posted in Uncategorized at 9:43 pm by John Roney

Stu McLaren, founder of the Idea Incubator seminar – www.IdeaSeminar.com, just gave a great training call on traffic generation, one of the fundamental skills to all internet marketing success. Here are some notes I took from the call.

I attended Stu’s Idea Incubator a year ago February when I was an intern for Alex Mandossian. I’ve told Stu a couple times now that his event remains in my memory as one of the three best events I have ever attended out of just over a dozen different marketing seminars. The words to describe Stu’s event are these: small, yet quality audience (about 100), A+ speakers, and an intimate environment that fosters both time with speakers as well as JV’s with other attendees.

Stu, like most people, was all over the place when he first started marketing online. This is the time when we are usually spending more than we’re making and wondering what to do next.

The Marketing Puzzle

The goal is to focus down on three major areas:

  1. Generating Traffic – If you don’t know how to generate traffic, it doesn’t matter how good your product or copy is because no one will ever see it or buy it.
  2. Converting Traffic – Once you get that traffic to your site, how do you convert them from a suspect to prospect to customer to raving-fan.
  3. Back-End Marketing – This is where the profit really ads on. If you do not have a back-end built, you are missing the bulk of your potential revenue. This is also where the long-term profits are.

Generating Traffic

  1. Writing and Publishing Articles (Article Distribution) – This allows people to sample your work while giving you an opportunity to gain back-links to your site. The benefit of the back-links are many, but two of which are search-engine rankings and potential traffic sources. You can even hire someone to write articles for you if you don’t want to take the time to do it yourself. Make sure that your articles have good keywords specific to what you do, or to a product that you have. When you include your website in your signature file The key here is to write and publish and distribute on a regular basis. This will maximize the value of the strategy and increase the number of links that are coming back to you.
    1. Use your bio box wisely. Include a link to an audio or special report or video that will help you build your list, and drive that traffic back to an opt-in page.
  2. Affiliate Programs – The power here is that you an leverage an entire army of commission-only salespeople. You will only pay them a commission if they bring you a sale.
    1. Maintain consistent communication with your affiliates.
    2. Provide them content, tools and resources to make them effective at promoting you.
    3. Make it easy for them to promote what you offer so they can get the word out to their lists.
  3. Online Press Releases – Press releases are similar to article writing.
    1. Use good, targeted keywords.
    2. Make it newsworthy.
  4. Pay-Per-Click Advertising – It is very easy to get traffic this way, but it is easy to lose money fast if you do it wrong.
    1. Think about what kinds of searches your prospects would be doing and do your research. What would the consumer be typing into the search engine if they were looking for what you offer?
    2. www.KeywordElitePro.com – provides information and research on your competitions PPC ads. Use this tool to find out what is working in your market—study the ads they continue to run, because those are probably working if they continue to run them consistently.
  5. Banner advertisement – You have to know where to purchase the right kinds of banners. If you can get a banner at the right place, in front of the right number and right targeted audience, it can do well for you.
    1. Ryan Deiss will be talking about banner ads at Stu’s event.
  6. SEO (Search Engine Optimization) – this takes time and is not a recommended strategy for beginners
  7. Link Exchanges – You are basically contacting site owners who have traffic related to what you do and asking them to put up a link to your site.
    1. There are strategies to minimize the work, but it can also be done manually.
  8. Forum Posting – This is similar to writing articles in a way because you are writing content, getting it out there, and having a signature people may find with a link back to your website.
    1. Be sure to incorporate relevant keywords to your product or service
  9. Video Submissions – Using video to generate traffic is working extremely well for those who are using it properly.
    1. Can also become viral with the right video and the right message
  10. Viral Marketing – this will happen when people have an incentive, whether financial or simply because the message is so good.
  11. Article Trading – this is something that very few people are utilizing
    1. Find people with a newsletter relevant to what you do and offer to put your article in their newsletter or autoresponder in exchange for their article going in your newsletter, for example.
    2. To go the extra mile, you can include that other person’s affiliate link for your product and when a sale is made, you send them a check.
  12. Podcasting – allows you to get your marketing message into the market while you bond with potential future clients.
    1. Good for targeting female audiences especially
  13. Blogging – a great, social way to generate traffic, especially for search engine friendliness
    1. Make sure that when you are posting, you include targeted keywords also.
    2. Like article writing, consistency here is a key. The more often the better.
    3. This is one of the best strategies for beginners just getting started because of its low cost and ease of start up.
  14. Joint-Ventures – This is how most of the marketers I have ever met have grown their businesses once they were up and running.

Converting the Traffic You’ve Created

  1. Copywriting – good copywriting is a huge key. If you have traffic, but can’t convert it, the traffic is practically useless.
    1. Words are the keys to copywriting. Pay attention to all the little details about what compels people to take action.
    2. Copywriting is one of the most profitable skills you can learn as a marketer – it is the core of communicating your message.
    3. Testing is very important to do with your copy in order to maximize your results.
    4. Ray Edwards will be speaking at Stu’s event. I know Ray personally and he is not only a top-notch copywriter, but also a good man of character to get to know.
  2. Incorporate Audio & Video in your web pages for maximum impact of your site’s personality and message.
    1. Alex Mandossian is a great example of how to effectively use audio.
    2. Make sure you include video testimonials if you have them on your website. This is good social proof for others to see and believe.
    3. Video can also be used to demonstrate products. In fact, video plus good copy is probably the best way known right now to convert traffic.
  3. Understanding Your Customers & Clientele – just ask yourself, what would motivate me to take an action?
    1. See things from your customers point of view

Back-End Marketing

This is the marketing funnel in action. Marketing is a numbers game. You will bring in many people at lower-priced products and fewer people as you graduate your clients to higher-priced products.

  • Seminars
  • Coaching
  • Consulting
  • Boot Camps
  • Courses

The key here is to continue to deliver value to people. Give them more of what they want and they will continue to buy from you. Your goal is to create raving-fan or evangelistic customers. Alex Mandossian will be giving his Stick Strategy Secrets presentation at Stu’s event.

  1. Deliver Unexpected Bonuses after they order
  2. Focus on long-term success by incorporating Stick Strategies
  3. Include a One-Time Offer or Upsell offer
    1. Make sure the offer is similar to what they are already buying

In Conclusion

Take a look at Stu McLaren’s website at www.IdeaSeminar.com and sign up to receive the rest of the preview calls leading up to his seminar.

-John W. Roney

Two New Sites Launched

Posted in Uncategorized at 12:18 am by John Roney

I have recently published two new sites online: www.authortips.com and www.SponsorAMissionary.com. Here is a little info on each one:

www.AuthorTips.com is designed to hold a collection of resources, tips, strategies, and ideas for authors, grown out of my experiences working for Morgan James Publishing as well as my experiences working with dozens of authors. I love sharing ideas and I’ve been sitting on too many ideas since leaving publishing. It feels like they are just starting to wither away (like a muscle that’s not used), so rather than let that decay happen, I hope to share as many ideas for authors as I can recall.

www.SponsorAMissionary.com is designed to capture and hold some ideas I have for creating a non-profit organization called Sponsor a Missionary, the objective of which is to support and equip overseas missionaries as they do the work of the Lord. Lord will, this blog will eventually turn into a more comprehensive website as the organization grows to include multimedia, a donation tool, as well as all the necessary legal requirements for operating a non-profit organization.

I welcome anyone to visit the sites and comment on the material, as well as add comments of your own. I think in some cases a blog should be called a digital mastermind because that is truly what they can be. Please contribute your own ideas, suggestions, criticisms and comments in the spirit of serving others.

In faithful service,

John W. Roney III

February 15, 2007

New Career, New Direction

Posted in Uncategorized at 9:16 am by John Roney

I would be willing to guess that there are not many times in a person’s career where they will leave doing work that they like to pursue a direction they feel called to go in.  But this is what the Lord has had in store for me recently.

My career path has not been very long so far (only about 4  years), but it has been interesting. Allow me to share just a bit of where I’ve been and the amazing things that the Lord has been doing in my life in the recent months.

Let’s start by jumping back to the first yearout of high-school where the story begins. I was working for a retail electronics store as I kept getting the entrepreneurial bug bites. I had been bitten earlier on with paper routes in middle school, and lawn care business in high school, but now the bug was biting again.

I decided to leave working at the retail job after I found a network marketing company, PrePaid Legal. I didn’t want to build the business, but I had met and hired my first coach–a gentleman who taught me how to buy legal leads and sell the legal service plans. I had just been approved for a platinum mastercard with a $9,000 limit and so I moved to Naples, Florida (to get away from family, pursuing what I thought was some ideal vision of striking it out on my own). I charged an expensive apartment on the card and started making some prepaid legal plan sales. I was making a couple thousand a month, but was spending more time at the beach than I was working.

To make the long-story short, my dad was in trouble with his place in Virginia and I invited him to move in with me. He was going through medical challenges and in the 3 months he lived with me, we went to the emergency room a total of 13 times. I wound up taking a job at the local county government to get back on track and it was about that time I started working with my first business mentor, Jeff Mills.

Jeff helped me earn some money to get through the tough times and six months later we started into the home-business travel opportunity, Coastal Vacations, together. I earned just over $185k in a year and a half with that opportunity because I had invested extensive time in getting trained by a top trainer in mlm, Dani Johnson. Dani had helped me learn to talk with people, and Jeff had showed me how to market online. This combination led to the six-figure income (but I sure wish I knew where that money went and how I ended up in more debt than when I started).

I sold my coastal business after I started interning for Alex Mandossian. For 8 months, Alex sent me around the country to the different seminars he was speaking at. Truly, it was an amazing opportunity to serve people along the way. Plus, one of the greatest gifts was the people that I met–very successful people, too numerous to mention here. But recently, a friend of mine gave me an assignment to write down the people I knew in business, how I knew them, and what they do. I did the exercise and found I knew about 150 people, several of whom are millionaires in business and many more earn excellent incomes on and off the internet.

After working with Alex I went to work with David Hancock and Morgan James Publishing. It was a fun time, although rocky at times. I received my first two speaking engagements with Morgan James and had the privilege of coaching many authors, plus meeting some of the names in the publishing industry. I’m not sure why this is significant, but I put about 11,000 on my car in 3 months for the sake of a short publishing career. I had planned to publish multiple books, build informations products in the publishing area, and work with authors for the rest of my life. But, the great news is that it’s all for God’s glory and He had other plans for me.

The same weekend that I met Alex Mandossian, which was October 2005, I also met Stephen Pierce. I stayed in touch with Stephen and his wife Alicia over the next year and a half, just building our relationship little-by-little. About the time events started winding down the publishing career, I was talking with Alicia about potential serving opportunities with them in Asia (where they do a lot of speaking work). I kept getting the feeling that the Lord was sending me in this direction.

It might have been a number of reasons, but one was that I have always dreamed of sponsoring missionaries overseas, but especially to India. My middle school Sunday school teacher and his family want to be full-time missionaries to India and I want God to use me to help send them. I’ve had, for many years now, the vision to make money, invest and grow it wisely and build an organization that sponsors missionaries, helps them build communities and churches and make an impact in people’s lives overseas. Now it seems that I might have an opportunity in the future to go to Asia and India and serve in person with the Pierce’s, which is a dream come true for me. : )

For now, Alicia made me responsible for their Japanese coaching program and a couple of product launch opportunities as well. I know this is all a blessing for me and I see God displaying His glory all over the place. My prayer is to continue being trusted with opportunities to serve and that I finish well and do a good job, always giving Him the glory, for the blessings He continues to send into my life. I am not sure where the path will lead, but fortunately I’ve been learning that I don’t have to. I leave that to the Lord and put my full trust in Him, learning to be content with whatever level of success He knows is best.

-In faithful service,

John W. Roney

January 26, 2007

Notes on “The Millionaire Next Door” (Chapter 3 & 4)

Posted in Uncategorized at 10:29 pm by John Roney

Time, Energy, and Money

They allocate their time, energy, and money efficiently, in ways conducive to building wealth.

Millionaires indicated on our survey “business owners” with “some college,” “four-year college graduate,” or “no college.” Warning: Parents should not suggest that their children drop out of college and start a business. Most business fail within a few years of their conception. Only a small minority of business owners ever earns a six-figure income. But those who do tend to accumulate more wealth than others in the same cohort. Those who spend their time in school get started later with wealth building. Most experts on wealth agree that the earlier one starts investing one’s income, the greater the opportunity to accumulate wealth.

“There is an inverse relationship between the time spent purchasing luxury items such as cars and clothes and the time sent planning one’s financial future.”

(It is encouraging that something like options trading exists as a way to help build wealth, by increasing income and also increasing return at the same time. I don’t think that will be talked about in this book though.)

Financial Goals

Many high income producing wealth builders have the following goals:

  1. To become wealthy by the time they retire.
  2. To increase their wealth.
  3. To become wealthy through capital appreciation.
  4. To build their capital while conserving the value of their assets.

Time Allocation

  1. They spend a lot of time planning my financial future.
  2. They have sufficient time to manager their investments properly.
  3. When it comes to the allocation of their time, they place the management of their own assets before their other activities.

 

Chapter 4: You Aren’t What You Drive

They believe that financial independence is more important than displaying high social status.

  1. “Money should never change one’s values…. Making money is only a report card. It’s a way to tell how well you’re doing.”
  2. Only one in five leased their cars. The rest bought used cars most of the time.
  3. “Its much easier in America to earn a lot than it is to accumulate wealth.”

January 23, 2007

Posted in Uncategorized at 10:21 am by John Roney

Sometimes God calls us to wait in neutral… to wait while he is lining up events and circumstances and people. This is where patience and trust come in most handy, yet are also most difficult.

January 22, 2007

Ten Smart Questions to Ask About A Market

Posted in Uncategorized at 11:46 am by John Roney

By Dan Kennedy:

1. What keeps them awake at night? What’s really bothering them so bad at night they can’t sleep?
2. What are they scared of?
3. Who are they mad at?
4. What are their top-3 daily frustrations?
5. What trends are occurring in their businesses or their lives?
6. What do they secretly want?
7. Is there a built in bias to the way they make decisions?
8. Do they have their own language?
9. Who else is selling something similar to them?
10. How well are they doing with it and in what format?

The Daily Regiment

Posted in Uncategorized at 12:39 am by John Roney

Just listening to some Dan Kennedy material right now and he is talking about how he got so good at writing (at least one of the reasons) and it seems it is about his daily regiment: start the day off with an hour or two of writing before the day gets busy.

That’s an incredible idea. You start your day off with the most important things first. I’ve heard this idea with the ‘write for the trash can’ approach to writing where you simply roll out of bed, pick up the notepad and starting to write.

I’ve heard of other daily regiments also. Tony Robbins has his hour of power where he starts the day with breathing, exercise, gratitude, visualization and focus for the day. This I have found very effective in the past, but shame on me for not continuing.

January 21, 2007

Posted in Uncategorized at 5:08 pm by John Roney

“Attempt great things for God; expect great things from God.” William Carey

All Glory is Fading

Posted in Uncategorized at 5:01 pm by John Roney

I was thinking about some co-authored books that I had the potential to write and produce, books which would help give me more credibility and an expert status for the topic’s I’d write about, and being okay with not pursuing them. These books made sense as part of the plan when I was working in the publishing business, but truly, they don’t necessarily help me accomplish my end outcomes, mainly to build wealth and sponsor missionaries (and to build an organization of some kind that will hold cash-flow producing assets, the profits of which would be designated to advance God’s kingdom).

This morning in church, (mcleanbible.org) Lon Solomon, describing a vacation over New Years said, “One morning I thought I would just get up and take a walk–it was a beautiful morning, and so it was just me and the Lord Jesus walking on the beach together and I love to walk right on the edge of the water where the waves wash up just around your feet. And as I was doing that I noticed something very interesting. I noticed that the water would roll up every few seconds and wash away the footprints that I had just made in the sand as I walked along.

“And it occured to me that this is the way life is–that as human beings, that our footprints are only temporary… that the only person who leaves footprints in the sand of this world, footprints that the world can’t wash away, is the Lord Jesus himself. It reminded me of a scene from the great movie Patton that I had always wanted to use in a sermon but was never able to figure out how… and so I’m going to use it today. Watch the scene and see if you can recognize the connection I made.

“For over a thousand years, Roman conquerors returning from a war enjoyed the honor of a triumph–a tumultuous parade. In the procession came trumpeters and musicians and strange animals from the conquered territories, together with carts laden with treasure and captured armaments. The conqueror rode in a triumphal charriot, the days prisoners walking in chains before him. Sometimes his children, robed in white, rode with him in the charriot. A slave stood behind the conqueror holding a golden crown and whispering in his ear a warning that all glory is fleeting.”

“…that only what’s done for Christ will last.” -Lon Solomon

I think this is all very true, and all very relevant especially at this time in my life. My focus tends to shift to the long-term focus for my life, which is serving the Lord by serving people and by doing what I can to help advance His kingdom. And that’s it. Books and courses and doing all the things that lead to building my own name don’t really matter when I keep those outcomes in mind. And you know what, that feels really, really good. : )

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