Making Money is so Easy It's - S.I.L.L.Y.

by Rick Raddatz - Date: 2007-02-16 - Word Count: 632 Share This!

When you become successful in business, people always want to know how you did it. That's how entrepreneurs who are willing to share what they've learned in building their businesses become gurus.

If you want to be a guru, it's not enough that you are willing to discuss the secrets of your success. You have to be able to communicate your ideas in a way that makes sense and is easy to remember. Acronyms are a great tool for boiling down the core principles that contributed to your success, making them understandable and unforgettable. An acronym can capture your entire wisdom and knowledge in one small word.

For example, Joe Polish, a marketing guru who has helped thousands of people in the carpet cleaning business, created the acronym "E.L.F." He asks people, "Do you have an E.L.F. business - a business that's Easy, Lucrative and Fun?" Now that's a great acronym!

With this in mind, I started thinking about the things that have been central to my success and came up with five core principles. When I wrote them down, the acronym that emerged was S.I.L.L.Y. - it was not intentional, honest it wasn't, but that's what came out. It was one of those Ouija Board moments, and it happens to be true. If you do it right, making money is so easy it's S.I.L.L.Y.

Strategy is first. If you're just starting a business, the best way to develop a strategy is to find a good mentor, attend seminars, or work with a mastermind group, bouncing your ideas off people you respect until the right strategy emerges.

Implementation is equally crucial. A lot of people fall down on this step, and they don't even realize it. They may have a sound strategy, but even a great strategy is worthless if you can't put it in place. Dan Kennedy often talks about how important it is to take action. That is what implementation is: taking action. But whatever you call it, implementation is essential for your success.

Leverage, the first L in our S.I.L.L.Y acronym, is the key to making money. I got this from my years at Microsoft. All of their successful investments leverage their other investments. At Xiosoft, I try to make sure that my new products leverage the same marketplace, the same customer base, and the same needs of customers I already reach so they can work together. If you're not maximally leveraged within the realms of risk, you're not earning as much as you possibly can.

L is also Lifestyle, and it's probably the most important goal of all. Unfortunately, many people devote so much time to their business (especially if they don't have the right strategy) that they don't end up with the lifestyle they always imagined for themselves. After a couple of years of investing time and energy in my business, I can now choose how much I want to work and how much I can be with my family. Lifestyle should be the ultimate goal, but a lot of people fail to acknowledge this fact. Instead, they end up with a lifestyle that is neither satisfying nor happy.

Y, finally, is for Yes. (OK, this may be a bit of a stretch, but stay with me.) It's important to focus on "yes" because there are a lot of "no" people in the world who can't wait to tell you everything that's wrong with your idea. They'll say your idea doesn't work, your plan is faulty, or that you can't afford it. Of course, you need to welcome these "no" ideas and acknowledge them so that you can appropriately manage your risk, but in the end, you have to say "yes." You have to say, "It can be done," and then you have to make it happen.

Sound S.I.L.L.Y.? Well, it is. Try it and see for yourself.

Related Tags: web video, silly, marketing tools, internet-marketing, rick raddatz, xiosoft, web audio

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