Chapter 3 of “The Iceberg Effect” is all about how newbie Affiliate marketers should be clear exactly why they are putting all their efforts and a lot of their money into trying to become successful marketers. Dean suggests that a simple question is asked about why someone is doing the work involved, and the answer is followed up by the single word question “Why”. The ultimate answer is arrived at after 6 or 7 “Whys” and that answer should remain in the forefront of the marketers mind whenever he or she is working on their business.
Now here’s a summary of Chapter 4 – “Life By Design”.
Later in this blog post, I am going to say something quite controversial, but in the meantime, I’ll summarize what Dean has written. Dean explains that, in the early days of running his Affiliate marketing business, he had little to no idea of what he needed to make in profit, not just income, to ensure that the whole procedure was viable.
He suggests that what he should have done, and what all newbie marketers should do, is to work out, as accurately as possible, how much money they would need to make every month to enable them to lead their DREAM life. Dean again provides some mainly blank pages at the end of the Chapter so that the reader can document their figures.
Dean suggests that the reader should go into great detail to ensure that the monthly cost calculations are as accurate as possible, going as far as looking up prices on the Internet, rather then simply taking a stab in the dark. All day-to-day costs should be included in the calculation, including for the following areas of life:
- LOCATION. Where do you want to live. What country, what state, rural, urban, or by the sea.
- HOME. One or more, house or apartment, large or small, rent or buy etc.
- UTILITY BILLS.
- VEHICLES. Not forgetting running costs.
- VACATIONS. Where, how many a year, how long, what type and class of travel.
- RECREATION and ENTERTAINMENT.
Etc,
Items covering more than a month or sporadic costs, for example vacations, should be divided down to give a monthly total. To this total add, say, 30% to provide for taxes and so a fully costed figure of the required monthly PROFIT (not income) is arrived at to enable the wannabe affiliate marketer, and his or her dependents to live his, her or their DREAM lives.
Now here’s the controversial bit. It’s clear that I am summarizing Dean’s book, “The Iceberg Effect” in an effort to convince you to pay the nominal P & H charge to acquire the book. I am doing that because I truly believe that it is a tremendously helpful resource for all wannabe Affiliate marketers. However, in my opinion, Dean has included Chapter 4 “Life By Design” too early in the book. It really should come much later in the book, or even as the basis for a follow-up publication.
At the early stages of a marketers “journey”, he or she, if they are still in employment, should only be thinking, “How much money do I need to make on a regular basis, so that I can quit my day job and become a full-time Internet Marketer, working from home”. There’s no way that anybody could make the level of income that would result from Dean’s suggested exercise while still going out every day to unrelated work. Only after someone has successfully supported him or herself and their dependents for a reasonable period of time, relying totally on Internet based income, should they start dreaming about anything more than a basic lifestyle.
That’s my opinion. Do you agree with me that Dean has included this Chapter too early in his book, or do you think that I am not being enthusiastic enough? I’d be interested in reading your response.
Cheers
Phil
I’m not sure it matters, to be honest. We have to face the truth of all the costs involved in business and day by day expenses bravely! The sooner these are faced and figured out , the faster we can move forward!
I agree Kate, but at this early stage, the newbie should be concentrating on the costs he or she would need to cover to be able to quit their day job, not the costs they would need to cover to lead their dream life.