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LATEST TIPS FROM TOM

Admit It: You Love When I Share Emails From Crazy People

August 17th, 2018   |   By Tom Woods

I’ve shared some of them with you, on both of my email lists.

They’re rude, they’re bizarre, they’re off the wall.

One person said she would report me to the President of the United States because I had a private Facebook group that people have to pay to enter.

I’m sure that’ll be Trump’s #1 priority.

Now how about one from a normal person?

I received this last week:

“I will give you money every month till the day I die. The spirit of capitalism that you have awakened in me has taken me to over a million views on my guitar lessons, and I am a professional marketer to boot. I am also building a retail company with a friend that is seeing GREAT success because of the marketing classes you pointed me to.”

Two things to note:

(1) “Music teacher” isn’t exactly a field you expect wildly fantastic results from — and yet this guy, a longtime listener who takes my advice, is doing it.

(2) He points to marketing resources I’ve recommended as helping to accelerate his success.

What this means:

If you also want a revenue-generating site like this guy — and who doesn’t? — you’ll progress faster, and hate yourself less, if you learn from people who have been there and done that, than if you meander around endlessly on your own.

Most people meander.

And then fail.

Step one to not failing: read this free report by Sara Young and Andrew Hansen, which will introduce you to a whole new world, and will get you thinking in productive and exciting ways: http://www.happyearner.com/sarareport

However, don’t register for their Monday webinar, which they mention in there.

Register for the Tuesday one at the link below, where I’ll be on the call with you (and I’ll be giving away $200 to each of five random live attendees):
http://www.happyearner.com/learnfromsara

Can You Solve This Austrian Economics Puzzle?

August 15th, 2018   |   By Tom Woods

For background: the Austrian School of economics speaks of time preference: we prefer a good in the present to the same quantity of that good in the future.

Now here’s the puzzle.

(If it goes over your head, just skip to the end. But try.)

How does the existence of finite prices for land help demonstrate the existence of time preference?

I’ll give you a hint, in the form of a question:

Why aren’t land prices infinite? Land yields a return year after year in perpetuity, so why isn’t its price the sum of these returns, stretched out across its useful life (which in this case is infinity)?

OK, go think about it.

Here’s the answer.

Let’s say the land yields a $10,000 return every year, starting with its first yield tomorrow. You’d be willing to pay just about $10,000 for the yield in that time period. But would you pay $10,000 for its $10,000 yield a year from now?

No. You’d pay maybe $9000 or $9500, because a $10,000 yield a year from now involves waiting, and is therefore worth less to you.

What would you pay for a $10,000 yield coming two years from now? Maybe $8700?

So when you sum up all the yields, you’re adding smaller and smaller numbers for each succeeding year until you get so far out in time that you value the yield for that year at virtually zero, and the land price therefore settles on a finite number.

If you didn’t have time preference, you’d value all the time periods equally, at $10,000, so the price would be the infinite sum of those yields.

But you do have time preference, so land has a finite price.

Why this matters:

Suppose you have a website that earns $1000 per month. You may think that’s small potatoes. But you can often sell a site like that for 30X monthly earnings — which means you have a $30,000 asset on your hands.

No, it won’t be an infinite price — investors don’t value every succeeding month of revenue equally, as our puzzle reminded us — but it sure makes that $1K/mo site seem a lot nicer.

How to build a site like that, around a subject you love (so it’ll be like a fun hobby rather than drudgery)?

Like this:
http://www.happyearner.com/hobbysite

How a Master Troll Showed Veteran Speakers How It’s Done

July 31st, 2018   |   By Tom Woods

As you may have heard, the great Michael Malice was the “mystery speaker” at this year’s Mises University, the Mises Institute’s week-long summer program for students.

I’ve never seen anything like it.

First, he had Institute president Jeff Deist take a sealed envelope and remove the introduction letter inside, which he had never seen before, and which he was to read to the audience without any prior knowledge of what it contained.

That letter — which had the audience in stitches — then led to the three-minute introductory video Michael had created to build up to his appearance on stage.

The video was a cross between madness and genius.

I have never seen anyone make an entrance like that.

As he spoke, nobody was looking at the clock. He had the audience eating out of the palm of his hand. An extraordinary thing to observe.

Unfortunately, the talk will not be released to the public. (On my podcast at some point I’ll be announcing the next best thing.)

If you’re like most people, you’d be satisfied just to survive a public speaking gig. You wouldn’t be trying to wow people quite like that.

And same goes for your online business.

Someday you’ll have lots of bells and whistles. Right now you just want to earn a few affiliate commissions and get your share of the pie.

I hear you.

Here’s how to do it.

Watch this free course from an excellent teacher (my friend Charles Harper) on stuff that you wouldn’t be here if you didn’t want to learn.

Last chance to grab:
http://www.happyearner.com/whatyoumustknow

The Three Steps to Your Online Side Hustle

July 30th, 2018   |   By Tom Woods

No sweeping generalities here. Here, step by step, is what you as an aspiring online earner should do.

(One error: when I start discussing sites where you can find affiliate products, I say JVZoo specializes in affiliate marketing products, when I meant to say Internet marketing products.)

In the video I mention Aweber and Leadpages, as well as BenSettle.com.

The key tool you need is Builderall, since it has everything you’ll want under one roof: a website builder, an optin page builder, a mobile app builder, an email marketing service, a webinar platform, and a ton more. And all for less than what I pay every month for just my email service alone.

Also: you don’t have to try to get half a dozen separate platforms to integrate with each other.

During the brief launch period it’s available for about one steak dinner a month:
http://www.happyearner.com/builderall

A Simple Model for an Online Business: Here’s What to Do

July 26th, 2018   |   By Tom Woods

Today I have a free gift for you, and I strongly urge you to take me up on it.

It’s a 25-video series on the specific steps you need to take and areas you need to master in order to start an online business, even if you just want to earn a little affiliate income here and there.

From what I’ve seen, Charles Harper, your teacher, knows everything there is to know about online business and income generation. (He’s also a fan of the Mises Institute, so you know he’s a good guy.)

You will learn a lot from this. Definitely go get it (and remember, it costs nothing):

http://www.happyearner.com/whatyoumustknow

P.S. As if this free video series weren’t enough, Charles offers you the right to bundle these videos up and sell them as your own product, or integrate them into a more extensive product, or whatever else you’d like to do with them.

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    How to earn money as an affiliate By Tom Woods
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