Internet economy
I have not come across any good articles or special report on internet economy. Most probably, nobody has ever written on it.
Adam Smith is the Father of Economics. Karl Marx, a German sociologist and economist wrote two books, "The Communist Manifesto" and "Las Capitas". He did not complete writing his second book before he passed away. He best friend continued and finished Karl Marx's uncompleted job. John Maynaud Keynes wrote the book "The General Theory of Money, Interest and Unemployment". This classic book first published in 1937 lay the foundation for modern economics. In short, it is known as Keynesian economics.
The Communist Manifesto is not about communism although it was first used by the Russian leader, Starlin. The Communist Manifesto is about concepts in social cycle and economic cycle.
(When we say social economic, we are actually refering to the balance between these two opposing forces.) Karl Marx's second book "Las Capitas" is about capitalism. (Please, do not confuse capitalism with democracy)
John Maynaud Keynes' "General Theory of Money, Interest, and Unemployment" was written as a solution to the Great Depression of 1929. What happened during 1929? Basically it was a failure of the economic system. The interest rate of banks dropped to as low as minus quarter percent. This meant those with money had to pay the bank to look after their money. Most of the world's economy today rely on Keynesian economics as fundamentals.
The internet economy of 1998/1999 had some similarities. Who survived the 1929 Great Depression? Basically they were conservative long term organizations. Consevative means they do not borrow money. They are stable, cash rich and can pull through long periods of depression.
Who survived the internet bubble of 1998/1999? The answer is the same--those orgainzations or individuals which stick to these fundamentals.
Until today, internet economy is still the winning economy, way ahead of any other industry. The cake is growing bigger and bigger astronomically proportional to the speed of modem (Moore's law) rewarding organizations and individuals alike. Beneficiaries include Bill Gates, Googles, You Tube and so on.
If you want a piece of this cake, you have to use the right vehicle, right strategy, and be in the right place at the right time? As the saying goes, it is impossible to launch the rocket with your firecrackers. No doubt you can get pennies to survive day to day just with firecrackers!
Let me know what you think.
You are welcome to post any reasonable comment.
The Death of Internet Marketing
This is my review on Mike Filsaime's Special Report on 'The Death of Internet Marketing".
One internet marketer said that a year ago when he send out 50,000 emails through the mailing list, the click through rate (CTR) was about 6,000. Now, the response is expected to be around 600. It is as good as
dead.
Before you continue from here, I would like you to read my earlier article on "Internet Marketing versus
Internet Entrepreneurship."
Here I would like to point out that internet markeing is only a medium, agent or middlemen whatever you like to call it. They thrive on the
inefficiency of the legal and economic distribution system. As the system becomes more efficient, economic cake for the internet marketing industry becomes smaller resulting in lesser rewards for the players.
Therefore, the death of internet marketing is not a surprise. It is to be expected. The late Corey Rudl (Derek Gehl's boss who founded the world famous Internet Marketing Centre) once said that you can become
super, super rich if you can
predict the future. This is the futuristic household and hotel scenarios he predicted.
Middle men and internet marketers would be wiped out in future.
Locality is the name of the game. Every household would have everything available online. When we need any of these stuffs, we just key in the order in our computer and the goods would be delivered to our house. No middlemen, no need for internet marketing. A perfect system. And in any international hotels all known entertainment materials, videos, games and so on would be available free for all hotel guests.
In economic terms internet marketers have an unfair advantage and ought to be eliminated by the market system. Therefore it would be wise to appreciate that whatever you make as an internet marketer is only temporary. It is for this reason that I prefer to emphasise on internet
entrepreneurship. (Please read my short article on internet entrepreneurship again if you still have not read.)
Entrepreneurship is innovation, leadership, movers and shakers of society. The outcome is the rising standard of living of the world's population. Entrepreneurship would survive as long as capitalism survive. How long would capitalism survive? This is unknown. History has shown that capitalism is a man make social phenomena. Therefore it is not perpectual. At this stage please read my article on the "The Perfect Nature" to enhance your wisdom.
Posted by DR SOON copyright 2006
Internet marketer versus internet entrepreneur
Is internet marketing the same as internet entrepreneurship? Superficially they appear the same. In my opinion they are not. In fact they are miles apart.
I have seen so many poor performance as a consequence of
mismatch. Accountant with a
core value of accountant doing the job of a entrepreneur. This includes even graduates from Harvard MBA. Marshall Thuber was the first person to reveal this...what the top five universities in America don't teach you. He then went on to design a program called 'Money and You'. This program helps the graduates to close the
mismatch gap.
Examples of internet entrepreneurs are Bill Gates, Sergey Brin, Larry E Page, Jerry Yang, Michael Dell.
Examples of internet marketers are Alex Mandossian, Arman Morin, Yanik Silver, the late Corey Rudl, Derek Gehl.
Compare the two groups and see whether you can spot the essential differences. Think about it. Take a short break and read on for my answers.
Internet marketing is basically a
job. Therefore, internet marketer should get paid for the work done.
Internet entrepreneurship is
not a job. It is a
game with
win-lose scenario. This involves substantial risk. This is the reason that reward may be tremendous............if they keep winning... just like striking lotteries or casino jackpots everyday for many, many years to come!
However, the obstacle the entrepreneur has to overcome to reach his goal is always mammoth and insurmountable. New entrepreneur without mentor or with wrong mentor would almost always got into the game only to find out that he did not have an exit strategy.
Experienced entrepreneur solved this problem by using
vehicle? What is this vehicle? Take a short rest. Think about it and come back to review the answers. Read more.........
As an entrepreneur, if alone, we cannot build big businesses. We build an effective and efficient
team. It is this
team that build great business empires. An entrepreneur is the leader of this team. Therefore, leadership skill is the core value of all successful entrepreneur. Here are my comments on some of the leadership traits that were proven winners. Read them so that you understand what I mean by leadership skills.
- Bill Gates was interviewed by Larry King in American T.V. He was asked about how he became the richest man in the world.
- Bill Gate said, "it 's luck and timing. I'm in the right place at the right time. So many of my contemporaries were also in the right place at the right time. But the difference between them and me is that I have a vision whereas they do not.
- My comment is that Bill Gates see the importance of accumulating money in modern society and took steps to strategise a mechanism or recipe to amass wealth. Bill Gate knows how to implement his monetary vision.
- Robert Kuok, the richest man in Malaysia said, "tall tree attracts strong winds. I adapt like a chameleon."
- My comment is that,"keeping low profile, being humble, and adaptation" is another proven successful recipe of entrepreneurial leadership skill.
- Ananda Krishnan, another richest man in Malaysia became rich through his well selected businesses. None of his businesses give him problems that affect his attention span.
- My comment is 'selectivity' is the key. Know how to choose your business so that the problem area do not affect your attention span.
It is my sincere hope that newbies do not fall into an entrepreneurial trap. You should clarify whether you want to become an internet marketer or internet entrepreneur. Know your needs. Know how to apply what you learn in your own ways. You do not learn entrepreneurship from a marketer. Internet entrepreneurs do not give seminars. You have to learn it your own way.
Posted by DR SOON copyright 2006
An ancient wisdom ---- Know thyself
Know thyself is an ancient wisdom. It also means self awareness. It has survived thousands of years. I have observed over the years that religious individuals have less problems of self awareness. Their religious groups and their religious belief systems help them to connect to their
psyche, soul and spirit. In other words it is
wise to know ourselves. We grow up in a modern society. Our mind keeps pulling us away from reality. We tend to disconnect from our roots. In this environment of intellectual isolation we grow careless. Recklessness is damaging and dangerous. Are there any modern tools we can use to solve this problem?
How to know ourselves?. How to assess our self awareness?. 'Johari window' is a good tool to use. Some of you may know about it from management training or counselling courses. The term Johari comes from the names of two psychologists,
Joe Luft and
Harry
Ingham. They developed the instrument. To know ourself, we have to travel through the window. We will travel through the window modified by Mortein Feinberg. The four window panes are:
- How you see yourself
- How others see you
- Your idealized self-image
- The GAP
When self scooping through the window:
- Look for small details that our memory keep sending to the surface every time we think of the past.
- Examine the significant floaters that appear, disappear and disappear especially when we are about to sleep off or wake up.
- Look for the things that we consider insignificant but keep recurring.
- Hints like this are markers of our journey. Not easy to understand, but worth trying to understand.
These are the things that have shaped us. So, now, we know how to assess our self awareness.
Posted by DR SOON copyright 2006
