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Low Overhead on Business, Information Capture and Your Ideal Client

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In this Issue:

Info Capture

The other night when I was out walking around after dinner. I came up with a few brilliant ideas I was going to share with you in this issue of my ezine. Only one problem! I didn’t remember 2 of the 3 brilliant ideas when I woke up the next morning.

Problem? Lack of information capture. You’ve had the experience of coming up with a great idea only to have forgotten that idea a few hours later? Of course you have, you’re human. Sometimes the idea resurfaces, but sometimes it DOESN’T!

I have no idea how the brain works, but I know this. If I don’t write down my “brilliant” ideas at the time I get them, I’m totally screwed. I’ll forget half of them.

The secret is a $3 solution. ALWAYS carry around a small notebook and a small pen wherever you go. I walk around with one of those stupid fanny packs where I keep my credit cards, glasses case, a business card holder AND my little notebook. This has been a lifesaver since I started doing it.

Think you’ll remember? Sometimes you will, but many times, you won’t.

Action Point:

Get a small notebook and pen to write down great ideas when they come up.

Ideal Client

If you do any coaching or consulting you probably have clients you LOVE and clients you avoid. Hate would be too strong a word to use for the others.

Here’s an example of one of my IDEAL clients. This individual listens and puts into practice (almost immediately) most everything I suggest. He pays me without my having to remind him that payments are due. He is easy to get along with and I enjoy spending time with him socially. He is always very respectful of my time but asks me questions when they come up. He is self-motivated and does not require me to “sit” on him to get things done.

You should compile of list of characteristics of YOUR ideal client. As soon as I did this, and started being much more selective, I started attracting just that type.

I now have my existing clients SCREEN people who want to get involved with me as a coach. I usually have 3 or 4 of them “interview” prospects. I usually accept about one in every 9 or 10. When I turn people down it’s either because I feel uncomfortable with them personally or professionally OR one of my existing clients that I trust tells me THEY feel uncomfortable with that individual.

The more selective you are with the kind of clients you accept, the better you’ll feel. You’ll live more of the kind of life you want to live.

BUT, what if money is tight? Get a J-O-B partime rather than take on people who don’t fit what you’re looking for. There is nothing more annoying or frustrating than working with people you don’t “click” with. Trust me, I’ve done it.

When I’ve made a mistake, I have to take FULL responsibility. You should as well. If you have clients that aren’t close to your IDEAL, then boot them. Find a way to work with people that you enjoy and have synergy with. If not, what’s it worth?

Action Point:

Define your ideal client profile. Only work with clients who fit the majority of those traits. Don’t let money cause you to make bad decisions in this area. Get a job to support yourself if you have to.

Low Overhead

If you don’t know me personally, you may not know that I’m one of the cheapest guys on the planet. Don’t get me wrong, for some things, the sky’s the limit. BUT for most things that I consider buying, I’m cheap. I don’t spend money on fancy restaurants. I’m an Indian food freak but my favorite place is VERY reasonably priced.

As anyone knows who has seen me, I don’t spend a lot of money on clothes. Why? Because that’s just not real important to me.

I live BELOW my means.

What happens as a result? I can do just about anything I want. If I REALLY want to do something, I can do it because I’ve stashed the cash.

Do you have to live like me? Absolutely not. All I can tell you is that it works for me.

I spend times on both the East Coast (NYC area) and the Las Vegas area. I’ll be trying to spend July and August in Europe next year (but NOT France) if the exchange rate improves.

When I’m not at my places, I rent them out to lower my overhead. I put all of my expensive and important stuff in a locked room and rent my places out when I’m not there.

Net result? My overhead is low enough that I can turn down business. To me, this is freedom. This is success. I am living the life I want. Not what I was told I should do, not what my friends do. What I want to do

The beauty of having and living this philosophy is simple. I can do business with people I like and avoid “deals” with people I think are shakey. And there are MANY big names out there I feel uncomfortable even being in the same room with. You can SMELL it’s all about the money for them. Why? I suspect there overhead is pretty high!

My Upcoming Events:

Please make it to the following events. They will be WELL worth your time.
Info Products Event for those in the UK/Europe
This event can show anyone in any field how to generate more press and publicity
This is my MOST popular event. It will show you how to build an information product empire
For anyone who is interested in giving their own seminars

Filed under: Ezine

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