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Episode-27- Internet Marketing Landmine Number Five

Today on Five Minutes with Jack we discuss have for many business people, especially part time or small time internet marketers not setting priority to daily tasks is over one of the biggest mistakes you can make.

Remember in Landmine One, we discussed making sure you always develop a plan for each project you choose to start. There is probably nothing more important then setting priority when it comes to the planning process. If you don’t set priority to each task make a list and rank the action items in order of importance you will never actually do your tasks in the right order.

Not setting priority will at a minimum make your projects take longer to complete, often it will result in skipping critical steps that will hurt your ROI (return of investment) and many times it is actually the death nail in killing projects that simply never get completed.

So how do you set priority? The process is simply a matter of first writing down all the steps you need to accomplish to finish the project, second being honest with yourself about which ones most need to be done first, third creating phases and assigning groups of tasks to each phase and finally identifying any sub tasks for each main task and prioritizing them.

  • http://www.jackspirko.com/members/cajonezzz/ Craig z

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    I don’t kno what to say bro. These webcasts are kicking my ass in such a good way.
    I can’t wait to show you guys what I’m about to turn loose on the web.
    I should really cut you in… couldn’t do it with out you. Period.
    thanks.

    cz

  • http://interestingtimesmagazine.com A.H.A.

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    When is the next episode coming out???? I am jonesing here…

  • http://www.countryconsultant.com/blogspot Dene Brock

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    I don’t have a good plan. I work hard, and sometimes I make huge progress- but I’m still missing the boat.

  • http://www.jackspirko.com/members/JackSpirko/ JackSpirko

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    Screw planning, I do long term planning in my head, short term plans are daily task lists no more than 5 items on the list at anyone time. Action is key, planning is used by most people as an excuse to avoid action anyway.

    The fact that you know you don’t have a good plan just means you are beginning to ask yourself tough questions and that fing rocks! Gut check time, no one can ever kick your ass more than you can yourself. This is a point where you start to adapt and do your best work ever or become uncomfortable as your own motivational speaker, I know what you will do though. One way or another you will blow it up big time, you have everything you need.

    I have seen a lot of talented people you are better than most. (keep in mind I worked for Fortune 500 companies) the only think you need to do is GIVE YOURSELF PERMISSION to be confident. It is your birthright you know, claim it!

  • http://www.jackspirko.com/members/cajonezzz/ Craig z

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    “Screw Plannin”… Okay, I just read “Rework” and got that drilled into me.
    but that kinda clashes with you talking about having a biz plan.
    Can you sort that out for me?

    I think the key for me was your line: “planning is used by most people as an excuse to avoid action”

    work for works sake is not progress, that’s for sure.

  • http://www.jackspirko.com/members/JackSpirko/ JackSpirko

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    There are two kinds of business plans,

    1. Active Plans (useful ones) these are task lists. Five items to act on today and 10-20 goals for the next 90 days. This plan is adjusted on the fly, you find a plug in that saves time you do it NOW, you adjust and reduce work and move on. This plan also has a mile high view, VERY BASIC of what your site is designed to become and the things you need to get that done. This is 1-2 pages and it is a living document.

    2. Investor Business Plans – This is what most people think of when you say business plan, this has an executive summary, demographics, spend planning, forecasts, etc. This document is 80% bullshit and 20% what an investor wants to see. Now Investor A wants something different from Investor B so you have to do it all. Since you want money you also have to jump a few hoops to convince said investor you have done your homework.

    This second type of plan is something I would ask you for if you wanted me to say pour 50K of MY money into your business. Biggest reason I or anyone else will ask for this is to make you go away because we know you don’t have one ;>)

    The other reason is we might actually GIVE YOU OUR MONEY with a stipulation that we get a big ass ROI if the business pays off. Since you may be going into a business segment I don’t understand the plan is more to teach me about the market and convince me you know what the F you are talking about before I part with my money as I am taking the financial risk vs. you taking the risk. Know people like me are always going to ask you why you are not putting in your money and why you are not putting in more no matter how much you are putting in. I will ask you so if you believe in this so much why not a second mortgage on your house. Not that I think you should but I am going to gut check you and this is a way to do that. Realize you are asking in this scenario for me to put my money in a place you are not putting your own.

    So if you are doing a one man show with a few websites you do type one, if you want venture capital you do type two. If you read rework though you know why venture capital and angle investors are not all they are cracked up to be. I hope that makes sense.

  • http://www.countryconsultant.com/ Dene Brock

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    I recognize that I don’t have confidence in myself.. I think it’s because I’m surrounded by friends in the I.T. business that are just so darn talented.. they can program circles around me and have a list of credentials that would make a recruiter scream like a little girl..

    My claim to fame is the ability to “figure things out”. I don’t think there’s a software package I’ve ever met that I couldn’t get my arms around in a short period of time (and I mean minutes to a couple of days). But working in IT left me cold because somehow all of the joy of the job got sucked out of it.. usually by evil project managers.

    I feel like I need to get centered. I’m floundering around between a number of projects without a true focus.

  • http://www.jackspirko.com/members/JackSpirko/ JackSpirko

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    @Dene, in your own words, “stop being an assclown and do shit you like”, those people around you may have a shitload of letters after their names. My business card used to say

    Jack Spriko
    RCDD, LAN, OSP, CCTT

    I have zero rights to any of those any more. The RCDD, OSP and LAN took a LOT OF STUDY and some exams that were tough, I am talking 70% first time failure rates. You have to do continuing education credits to keep them all current and I let them all go. I learned most people didn’t know what they meant, those that did really didn’t pay my bills!

    The people around you may be great coders but you are a great person with a lot of insight and you are REAL, people will like you if you show them who you are. You have things you LOVE, build everything around that. Stop giving a shit what anyone puts after their name and be YOU, that is enough. Dene and anyone else on this site you need to realize that there are 6.7 Billion people on this rock circling the sun and you need only 1000 people that REALLY LOVE WHAT you are doing to have a full time income.

    Read this even if you have before http://www.kk.org/thetechnium/archives/2008/03/1000_true_fans.php

    Then consider if a “true fan” will spend “one days salary a year on you” and you have 1000 of them, if you divide 1000/365 you get about 2.7.

    What does that mean? 1000 True Fans given the opportunity to spend money with you creates an annual salary for you that is about 2.7 time the average salary earned in the US.

    Math isn’t as useless as we feel it is as kids!

  • http://www.countryconsultant.com/ Dene Brock

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    LOL…I still half-expect to see that title on a spiral bound training manual some day.

    All joking aside.. I used to have some letters too.. and like you said, they go away if you don’t keep renewing them. But all those letters did was keep my boss happy (and gave me a small boost in salary for keeping them current). They didn’t change what I knew or my work performance or anything of the sort. All they did was show that I could be compliant and conform to the expectations of an employer.. which is not a bad thing, but it is a bit absurd when you think about it. I only mentioned my friends’ credentials because they ARE really talented people and I have a deep respect for their talents. I just don’t fit the mold – I tried to fit, but just wasn’t happy.

    Do shit I love.. but I love a lot of shit!… :) I’m definitely having a “come to Jesus” moment right now. I’m workin’ on it.. we’ll see what I hash out. Going out now to do required reading (1000 True Fans). Thanks Jack

  • http://www.countryconsultant.com/ Dene Brock

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    Okay.. so I finish reading the article.. (great article, btw) and I go out to my email to clean out all the junk I got today and see a newsletter entitled “Success With Jack”.. .and I thought… how did I miss a newsletter from Jack Spirko?? Well I didn’t, it was from another one of my favorite “Jack’s” named Jack Canfield. What quote slaps me right in the face?

    “As you begin to take action toward the fulfillment of your goals and dreams, you must realize that not every action will be perfect. Not every action will produce the desired result. Not every action will work. Making mistakes, getting it almost right, and experimenting to see what happens are all part of the process of eventually getting it right.”

    OK. I’m getting it.

  • http://www.jackspirko.com/members/ladieu/ ladieu

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    @dene – I’ve been reading problogger (http://fwd4.me/bYy)

    In it he talks about having lots of interests and passions. He found that a website with a broad focus was much less successful than maintaining a separate blog for each niche.

    Now I agree with him to a point if there is no relation. So for example I am passionate about home theater software and technologies, however if I also wanted a blog about homesteading, those really should be separate properties. Also I don’t have TONS to say about home theater, so if I did create such a blog I might only post to it once per month. If something happens with it, so be it.

    That worked for him, depending on how diverse your interests are it might be a decent strategy. Also I would recommend that book.

  • http://www.jackspirko.com/members/ladieu/ ladieu

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    @dene – us tech guys are over-rated… see my post here: http://www.jackspirko.com/groups/setting-up-a-podcast/ about “gettin’ er done cheap”

  • http://www.countryconsultant.com/ Dene Brock

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    @ladieu – thanks for the info, I’ll go out and read .. I am beginning to come to that conclusion as well.. a well defined niche is the way to go. I’ve been taking some time to step back and re-assess how I want to shape my current websites.. I don’t have it all figured out yet, but I’m getting there. I appreciate your help and input here .. keep it coming! :)