August 27th, 2018 | By Tom Woods
I know I’m not alone in having insecurities.
I think mine started back in junior high. Those were extremely rough years for me. I had had my friends in elementary school, but when a bunch of elementary schools sent all their students to the junior high in sixth grade, I had to start fresh with a huge new batch of kids.
It didn’t go well.
I was one of the nerdy kids, and man did they let me know it.
I became skeptical of my ability to make friends, and even when I did, I wasn’t sure I really believed them. Did they really want me to join them for lunch, or did they just not know what else to say to me?
This kind of insecurity has haunted me for so many years and indeed so close to the present moment that I would be embarrassed to discuss it further.
And it has sometimes meant that for all my bluster, frankly I have cared quite a bit what my enemies have said about me.
Poor Michael Malice has even had to lecture me about this. Tom, how could you possibly care what an idiot like this thinks? Why does it matter to you?
Pretty much everyone who’s even slightly in the public eye is going to be misrepresented, or hated for irrational reasons. It is unreasonable to expect that I alone would be an exception to this rule.
My brain generally gets that. But the emotional side feels like I’m back in junior high again: I’m a decent kid, but people who don’t know me at all have already rendered their judgment.
It’s critical to get a handle on this kind of insecurity, because it’s going to distract you from what Ben Settle calls your Mission.
Only you can know and formulate your Mission. Your Mission is that thing that drives you, that place you want to be, that goal that your every action is aiming toward.
Anything, particularly something irrational like this, that distracts you from your Mission must be rooted out without mercy.
I as much as anyone need to take this advice.
But perhaps you do as well.
You’re on my list, so I know you have an interest in starting an online business of some sort, even if it’s just a website that earns you affiliate commissions.
What’s holding you back from fulfilling your Mission?
Is it a lack of confidence in yourself?
Is it a fear of opening a new chapter in your life?
Is it a fear of the unknown?
These are holding you back every bit as much as my own securities have held me back.
I’m matching you up with a couple of people about whom my folks have not had one unkind word. They are outstanding. And if you let them, they will help you overcome whatever is keeping you from carrying out your Mission.
Sara and Andrew are doing one more workshop with me tomorrow (Tuesday). We’ll cover some different information from what we hit on last week.
In general, we’ll be covering more specifics about how to build something online that you can be proud of, that you will enjoy working on, and whose model will not become obsolete by next week. We’ll also give ten examples of products that sell very well and bring in good commissions.
I’m even giving away $200 to each of five random attendees.
If your rational fears are getting in the way of your Mission, it’s time to assert yourself.
Step one: reserve your seat:
August 26th, 2018 | By Tom Woods
If you joined me for the workshop with Sara Young and Andrew Hansen last week, you got a taste of why my folks like them so much — they know everything there is to know, and they’re excellent teachers.
Want an online side hustle you can be proud of, that isn’t gimmicky, relies on no shady black-hat methods, and is based on principles that will serve you well the rest of your life?
Then join us this Tuesday.
We’re doing one more workshop together, and this time we’re focusing on ten example products that generate good affiliate revenue, to give you an idea of what works. We’ll also be using an invaluable software that helps identify profitable products out of the innumerable items on Amazon.
We’ll also be covering which markets it makes sense to go into, and which are nice if you just want an online hobby. (Much as I wish it were otherwise, “libertarianism” is not going to be a profitable niche for most people.)
Sara and Andrew have excellent reputations, and my listeners (including my own mother) swear by them.
Oh, and as last time, I’m giving away $200 to each of five people who attend (winners from last time aren’t eligible to win again).
Sign up right now:
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: https://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):
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)?
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: