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NOTABLE! Does your "get rich" internet guru only make $28K/yr?

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csalvato

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It takes like 30 seconds to fake an account summary...

Image%2525202019-06-24%252520at%2525206.00.35%252520PM.png
 
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csalvato

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In other words;

2 guys make the same annual income ($50K yearly)
person A does not spend a dime and only saves whereas person B over-leverage himself (million dollar house, cars, debt and more debt) according to expenditure-based GDP, person B should be wealthier because he has far more expenditure.

I might be a bit wrong in my understanding so correct me if I'm wrong. This is how I understood it.

Well, yes and no.

Your analogy is accurate, but overly simplistic, because macroeconomics doesn't look at individual people – it looks at large groups of people in aggregate.

The reason macroeconomists sometimes choose to look at expenditure is because the more you have, the more you can spend. So spending in aggregate is a good proxy for wealth and the access to spend that wealth.

This may or may not be "right". Sadly, economics is a soft science. There's not much we can do to prove which was is more "right" aside from philosophies and beliefs.
 

MJ DeMarco

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It takes like 30 seconds to fake an account summary...

Image%2525202019-06-24%252520at%2525206.00.35%252520PM.png

Didn't I already allude as much? It's a premiere bromarketing tactic. And I'm not even tech savvy.
 

csalvato

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MJ DeMarco" data-source="post: 789391" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">


Didn't I already allude as much? It's a premiere bromarketing tactic. And I'm not even tech savvy.

I think this ironic allusion was lost on a few:

boom

I was at my bank looking to see what my paycheck was worth (direct debit) and saw a receipt for a few grand shy of $1m. My heart sank a bit, total freedom

18 mega is FU money, cant even fathom the amount.

That 0.04% increase in your account is almost the median monthly income of a US household

most of the people just choose to live "safe" mediocre linear income lifestyle
and by "safe" I mean they are at their employer's mercy, one medical emergency or a recession from being homeless


My response was to help those folks by being more explicit.
 

Solais

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It's even cheaper than that because they don't need to lease a Lambo for an entire year. Maybe only for a week or two to do the filming...it's not like 99% of people are going to ask for verification that the Lambo in their shoddy YouTube marketing video belongs to them.

Don't even need $28K.
 

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This is great topic since I'm getting into this space in some level.

As obviously there are a lot of wankers who not done anything near what I did. Yet the marketing style of the lambo works at some level, but you are also then attracting that type of person. It can be a double edged sword.

They only equate success with a car, a boat, or a house.

I personally believe it should be marketed more subtle ala Frank Kern style. You show you in your daily life going about your business. Than the here I am in front of a Porsche.

View: https://www.youtube.com/watch?v=QFY7gZLiVbk


But selling say a course on the technical merits only will get ZERO sales. It's the end goal people are looking for, not some course on SEO.

People buy via emotions not logic. They want to achieve the financial freedom and look at you already have achieved it and equate I can do it too (like the 4 min mile)
 
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D

Deleted74396

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LOL I have wondered during this tough year how many $250 courses I'd be able to sell to my 10k Instagram followers with some fakery. It's not a desire of mine as I feel like many of those people are more showmen than entrepreneurs. I understand why people do it though, it seems like it's easy. If I launched a strong marketing plan with desirable imagery, alongside having 50+ one-on-one conversations a day with people who engage, I imagine at least 30 would sell. $7.5k+ isn't bad for a first launch.

BRB launching a course!
 

James Klymus

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I haven't been seeing the guru "standing in front of a lambo ads" as much on facebook these days but HOLY F THEY ARE ALL OVER INSTAGRAM.

If i'm going though stories, I kid you not 9/10 ads will be for amazon fba, shopify, MLM or some other guru standing in front of an exotic car. I don't even understand how so many of these gurus can exist all at once.

It's always the same exact ad format too, shows picture of todays revenue on their phone, stands in front of exotic car/house, invites you to some webinar.

I've definitely become jaded over the past few years with all of these guys popping up, but they were doing it decades ago on infomercials, and It will continue on because, for some reason, it works.
 
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Kevin88660

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My opinion is that too many young people have a too closed minded opinion on what a business they can do.

English speaking cyberspace
-personal trainer/consultant/guru
-social media marketer/advertiser
-ECommerce/drop shipping

In Singapore where I live, when young people talk about a business 70 percent of the time it is about opening a cafeteria/restaurant.

All these are business in the deep red sea, in my opinion. Thats one of the reason why so many guru/influencers struggle, trying to do the same thing as everyone else.

I think another factor in the difficulty of the coaching business Is that while you can learn ideas, concepts and strategies do not expect a step by step instruction guide. There wont be one because everyone has different background, resources, risk tolerance/personality, operating in a different location/market at a different time/era. Unfortunately there is too much lazy thinking among the consumers of such content and the so called gurus are just selling them the tool box to operate in the deep red sea business.
 

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Bump.
 

Kevin88660

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I think there are legitimate writers and journalist who specialize in writing and studying about entrepreneurship and business.

I love their face to face interviews with entrepreneurs where they asked very sharp and insightful questions. I know a few Chinese writers good in that.

In English version I only came across Charlie Rose. I don’t think he is specialized in business even. No doubt he is knowledgeable.

Even if you ask a multimillionaire who shapes his opinions too much according to his own circumstances and personal history, it could be of little relevance to you.
 

Jon L

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I love comparing the word choice of people that I know for a fact are self-made millionaires compared to those who claim to be.

Compare the language of:
The Road Less Stupid by Keith Cunningham. He's a guru, but he's also been there/done that/has the wisdom to prove it. In all the stuff I've read of his, I don't think he once talked about his car, house, jet or whatever. He was a man on a mission, and the mission is to help people become better businesspeople.

To:
any idiot self-help guru showing off his Lambo or bank account. (And its usually a 'guy.') If he is actually rich, I doubt he could help me become rich. He found, through a combination of unique skill set, timing and hard work, a way to make a lot of money. Could he teach other people, with other skill sets, how to make a lot of money? Doubtful. Could he do it again, in a different industry or a different time? Probably not.

Could Keith Cunningham turn just about any business into a success? Probably.
 

Christygruber124

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MJ DeMarco" data-source="post: 682141" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">
Like one of my brokerage accounts here?

View attachment 18729



I probably wouldn't have written the book in today's market. Too many fakers, too much noise, too much saturation.

I know this post is old but I’m glad you wrote the books you did when you did. I think your message is needed even more so.
 

P789

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I just saw this posted, almost word for word (the last paragraph had been cut) on a Facebook group I’m in. No attribution or even “Just saw this, and it’s a really good point.”
Aside from facebook, there is a reddit post containing the exact content from this thread, reported it.
 
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MJ DeMarco

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It was many years ago when I was a raw 20 yr old, but I still remember the anger and frustration I felt after being shamed by gurus and seminar hustlers because I couldn’t afford their big-ticket, high pressure upsell. I was guilted into believing that I “wasn’t serious about wealth” because I didn’t want to charge and max out my credit cards for a $4000 weekend seminar.

After 30 years I see nothing has changed.

This unnerving experience is part of what motivates me today. Hopefully I can make a small difference and save several from some ruinous financial decisions while also creating some baby-billionaires along the way.

Please feel free to share if you’ve been lectured and shamed that “you’re not serious about financial freedom” because you didn’t want to pony up 4 or 5 figures for some training program, seminar, or masterclass. Learning how to make a fortune shouldn’t cost a fortune. ~ MJ

Fortune.png
 

Esquire

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MJ DeMarco" data-source="post: 968459" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">
It was many years ago when I was a raw 20 yr old, but I still remember the anger and frustration I felt after being shamed by gurus and seminar hustlers because I couldn’t afford their big-ticket, high pressure upsell. I was guilted into believing that I “wasn’t serious about wealth” because I didn’t want to charge and max out my credit cards for a $4000 weekend seminar.

After 30 years I see nothing has changed.

This unnerving experience is part of what motivates me today. Hopefully I can make a small difference and save several from some ruinous financial decisions while also creating some baby-billionaires along the way.

Please feel free to share if you’ve been lectured and shamed that “you’re not serious about financial freedom” because you didn’t want to pony up 4 or 5 figures for some training program, seminar, or masterclass. Learning how to make a fortune shouldn’t cost a fortune. ~ MJ

View attachment 40358


I just got back from a sales and marketing conference where (just as expected) there were platform sellers pitching their five-figure coaching programs.

I don't mind them making their pitches. In fact ... in a way, I admire them if they can pull it off.

What's that ...? Some idiot just forked over HOW much to join your Platinum Coaching group ...?

Good for you. P.T. Barnum would be proud.

But I'm not drinking the Kool aide.

I've always felt that if the only thing your high ticket coaching problem does ... is teach you how to sell high ticket coaching programs ... it is nothing more than a pyramid scheme.

No different than any other pyramid scheme.

Selling "hope" to desperate people.

But with that said ... as long as you know what they are doing ... and aren't falling into the trap ... I enjoy watching the presentations and observing their techniques.

Those at the very top of their games have the sales process down cold.
 

WJK

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MJ DeMarco" data-source="post: 968459" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">
It was many years ago when I was a raw 20 yr old, but I still remember the anger and frustration I felt after being shamed by gurus and seminar hustlers because I couldn’t afford their big-ticket, high pressure upsell. I was guilted into believing that I “wasn’t serious about wealth” because I didn’t want to charge and max out my credit cards for a $4000 weekend seminar.

After 30 years I see nothing has changed.

This unnerving experience is part of what motivates me today. Hopefully I can make a small difference and save several from some ruinous financial decisions while also creating some baby-billionaires along the way.

Please feel free to share if you’ve been lectured and shamed that “you’re not serious about financial freedom” because you didn’t want to pony up 4 or 5 figures for some training program, seminar, or masterclass. Learning how to make a fortune shouldn’t cost a fortune. ~ MJ

View attachment 40358
It's a lot wider spread than just in the business sector.

Once upon a time, I took a professional class in a hotel conference room -- which was a common event for me. And in the next room, a weird religious group was doing a recruiting session. (I won't name it here) Their minions caught me on my break in the lobby making myself a cup of tea. They wanted thousands of dollars to teach me how to live and teach me the "wisdom of the ages". They had all the answers IF I just forked over the money and took their classes and programs. I explained to them that my library card was free, so I already had access to everything! I started asking them what great thinkers they were including in their program. It stopped them cold when I asked them specific questions about Greek and Chinese philosophers. They weren't impressed with my answers and they retreated quickly -- but I felt the same way about them.
 

thechosen1

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Tom Vu, my favorite!


It is not a way too small boat for all those people?

The way he reclines on the last take...please tell me this is an SNL sketch brother
[/QUOTE]
It cracks me up because making $12,000 in equity on a home purchase is completely possible and not at all uncommon, yet here he is saying these weird things with the boat and the girls and nothing makes sense. Lol
 
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OleksiyRybakov

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Would you rather listen to this story:

"Hi, I am Guru McGuruson, I have a net worth of 15 millions and I will teach you how to get a millionaire like me. Using my unique techniques I managed to grow from rags to riches without going to college! Buy my course for a discounted price of 3,000$ instead of 50,000$ and become just like me!"

or this:

"Hi, I am Guru McGuruson and I am a financial advisor. To be honest, I am not very rich, but I know how you can improve your finances! I managed to grow from 20 dollars a month to 8500 dollars a month and from a net worth of zero to over 100,000$ by moving to a different country, getting a bachelor's and master's degree for only 2,000 dollars over five years, changing jobs frequently, improving my IT skills and investing into real estate, stocks and crypto. Watch my videos on social media to get more free financial and IT advice and attend my PSM1, PSPO1, PSM2, ITIL, ISTQB or ISAQB preparation courses for up to 2,000$ each to get an annual gross salary of 90,000$ and more! Please don't worry if this course is too expensive for you since lots of companies are willing pay for this cost and the price for this course is also tax-deducible!"

How is it possible to prove the first advice? Creating fake websites and fake bank accounts is easy, especially if you know a foreign language and know how foreign banks look like. Just use some frontend development and you will become a "billionaire" with a fake bank account within minutes.

The second advice is not vague and gives clear instructions on what the advisor has done. Rags are not just a buzzword here but a clear number of 20 dollars per month. Meanwhile, the majority in first-world countries calls living on 300 dollars a month "frugalism". This guy is not demanding money for simple financial advice but teaches an actual skill. This guy does not only demand a price but shows you examples how to reduce your cost up to 0. Moreover, faking a business is easy. Faking a certificate in ISAQB might be easy but ISAQB provides a simple online tool based on blockchain so that everyone can easily double-check whether a certificate is real.

The most people, however, prefer the first approach because it sounds vague, simple and relatable. Tell people that they should maybe attend college and choose a good degree to elevate their entry level and they will back off. Tell people that they should improve their real-world experience to elevate their entry level even further and they will back off. Tell people that they should start their own business and they will back off. Tell people that you are not rich at all and people will back off like crazy. Even MJ is criticized for not being a billionaire. Also, learning and getting the experience to teach the skills described in the second approach might take 5+ years of college and 10+ years of practical experience. This is why financial advisors prefer to scam.
 

Martin Z

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Great points by y'all.

Like if you're really that wealthy, why are you selling courses?

Why doesn't Elon Musk sell a course on how he created Tesla(Martin Eberhard was the original founder, Musk was third I believe). Or Larry Ellison? Or LeBron James? Why don't they sell courses?

There's nothing wrong with selling courses. But from what I've seen is that a lot of these young guns(15-26 years old, older ones too) fall into this trap, fall prey for these sharks. Because they really are sharks who just want to suck the shit out of you, by subtly tricking you in showing a way that looks compelling to make decent money, when in reality they make the big chunk by selling courses on how to do certain things(running FB ads, IG, YouTube etc...).

Any of you who runs a social media agency? I see that stuff all the time.

Selling courses is a great fastlane model though.
 

OleksiyRybakov

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Great points by y'all.

Like if you're really that wealthy, why are you selling courses?

Why doesn't Elon Musk sell a course on how he created Tesla(Martin Eberhard was the original founder, Musk was third I believe). Or Larry Ellison? Or LeBron James? Why don't they sell courses?

There's nothing wrong with selling courses. But from what I've seen is that a lot of these young guns(15-26 years old, older ones too) fall into this trap, fall prey for these sharks. Because they really are sharks who just want to suck the shit out of you, by subtly tricking you in showing a way that looks compelling to make decent money, when in reality they make the big chunk by selling courses on how to do certain things(running FB ads, IG, YouTube etc...).

Any of you who runs a social media agency? I see that stuff all the time.

Selling courses is a great fastlane model though.
People that are wealthy teach courses or provide different forms of education in order to make other people better at something. They want to provide more value. Why do people sell it? Because lots of people believe that advice given for free is not worth listening.

Also, Steve Jobs has given lots of talks on what he achieved with Apple. Other great inventors did similar things and I am quite certain that they got paid for giving talks at conferences. Conference talks are often nothing else but education in a different format. What is the advantage of those conference talks with respect to classical courses? The advantage for the guru is that you don't have to spend time one-on-one but can coach millions of people simultaneously. The advantage for the audience is that they don't have to pay millions of dollars for a course by Elon Musk or Jeff Bezos.

Additionally, what is the problem with people getting lots of money for their education? If the education business is Fastlane, it is obvious that the Commandment of Entry has to be satisfied. And if it is hard to get to a certain position, it should also pay more. What hinders a customer become better than the teacher? The only important part is that the advisor provides some value skew.
 

OleksiyRybakov

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I am sorry for double-posting but I think that I finally understand why the gurus teaching how to get rich are selling their courses.

The reason is that selling courses on finance is an idea showing two interesting properties. First, you can sell a course for thousands of dollars and maybe even more. Second, you can sell financial courses to millions of people thanks to the social media. This means that selling courses is an opportunity that can not only satisfy CENTS, but also MCENTS where the letter "M" stands for magnitude.

While selling anything to millions will give you millions, selling anything at a higher price to millions will actually provide you billions. The most of the gurus fail to become a billionaire though because of the high competition. The high entry level is not so easy to accomplish and finding the need is also challenging. But if a guru manages to satisfy all the six commandments of MCENTS, selling their courses will actually make them a billionaire.

What do you think about this?
 

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I am sorry for double-posting but I think that I finally understand why the gurus teaching how to get rich are selling their courses.

The reason is that selling courses on finance is an idea showing two interesting properties. First, you can sell a course for thousands of dollars and maybe even more. Second, you can sell financial courses to millions of people thanks to the social media. This means that selling courses is an opportunity that can not only satisfy CENTS, but also MCENTS where the letter "M" stands for magnitude.

While selling anything to millions will give you millions, selling anything at a higher price to millions will actually provide you billions. The most of the gurus fail to become a billionaire though because of the high competition. The high entry level is not so easy to accomplish and finding the need is also challenging. But if a guru manages to satisfy all the six commandments of MCENTS, selling their courses will actually make them a billionaire.

What do you think about this?
Bingo.

Becoming rich is also a universal dream. And most people are looking for that magic ingredient or path that makes it both easy and instant. This is due in part to the fact that many think that those who gain wealth are "lucky" or they somehow cheated.

It can't be because they started a business and provided a necessary or desirable value/services. They sure couldn't have worked hard over long periods of time, making a lot of personal sacrifices. It couldn't have an element of delayed gratification.

That belief system makes people who are trying to cut corners a sucker for those selling their high-priced coaching programs or seminars. The information on how to be successful is out there for the taking. But, who wants to hear about working smart and hard over the long haul -- when you can grab your brass ring by taking a weekend class????
 

Martin Z

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I am sorry for double-posting but I think that I finally understand why the gurus teaching how to get rich are selling their courses.

The reason is that selling courses on finance is an idea showing two interesting properties. First, you can sell a course for thousands of dollars and maybe even more. Second, you can sell financial courses to millions of people thanks to the social media. This means that selling courses is an opportunity that can not only satisfy CENTS, but also MCENTS where the letter "M" stands for magnitude.

While selling anything to millions will give you millions, selling anything at a higher price to millions will actually provide you billions. The most of the gurus fail to become a billionaire though because of the high competition. The high entry level is not so easy to accomplish and finding the need is also challenging. But if a guru manages to satisfy all the six commandments of MCENTS, selling their courses will actually make them a billionaire.

What do you think about this?
You're right. There's a very big market for the "wanting to get rich" kind of people. People see the flash in the pants on the internet and go crazy for it. These guys who sell these courses are smart, they got to get their attention with the rewards.

It's very easy to replicate a course. All you need is to DM people who are interested in your story and pay bigger Instagram accounts to promote your course.

They all follow the same model.

It's a very profitable one, especially with social media.

This isn't necessarily related to the course business, but I talk to a good amount of pool/landscape contractors who make high 7-8 figures yearly, who have no idea how to run their social media for instance. You got two options; a) you can sell them a course at a much higher price compared to a standard business owner simply because of the magnitude of their jobs(building a pool costs roughly (45,000$-60,000$ on average, especially in Florida and California, which means they earn a lot more than your average business owners) and b) most of them don't want to watch a course like that, they would be happy to pay you a premium price(or a high ticket service as we call it in the internet world) ranging from 3,000$-10,000$ on a monthly basis just to help them with their social media, because most social media marketers are bad. You don't even need that many clients to make mid 5-6 figures monthly with these guys.

Or you can take a different path, you can run these get rich courses(for a much cheaper price, and teach them basic stuff you can read in 15 dollar books about investing their money), market them by promoting them to a bunch of Instagram accounts(these accounts got massive reach, meaning more targeted eyeballs on your content).

The course business is only going to get bigger and bigger. Why? Because people don't want to put in the work. They're so focused on the rewards and not the work aspect, which is the key to all of this.
 

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