Path 15: My Kid Beat Up Your Honor Student.....

Resources on the Topic:

Any idea how much money that now famous phrase made for it's creator? Me neither, but I bet is was a LOT. Back in the day, witty one-liners and trendy images made thousands, if not millions for their creators. Some of the best examples that we all know:

-99% of all lawyers give the rest a bad name
-Hang up and Drive
-Keep honking, I'm Reloading
-Stupidity is not a crime, so you are free to go
-Cancer cures smoking

And this doesn't even include the Jesus fish, the Darwin Jesus fish with legs, the yellow smiley face, or the ribbons for a cause. Think about it, each year in the US, nearly 15 million new cars are sold, and a decent percentage of those cars will be bestowed with at least one bumper sticker before they end up in the junkyard (That average jumps to at least 8 or 9 in Kentucky!). Add in T-shirts and mugs, and those now famous lines quickly lead to a lot of product sales.

Back in the day, entering the bumper sticker, witty T-shirt, or clever mug game was a bit more difficult. It usually required a bulk order, sales through some sort of store, credit card processing, etc. But my friends, that has changed for the better.

Enter Cafepress.com. This website has made it easy. All you need are a one liner, a few minutes on their web site, and a little time marketing your ideas. They handle the rest, creating the product, sales, shipping, and credit card processing. They sell the product, you collect the profits. The beauty is that you can quickly and easily throw your lines on shirts, bumper stickers, mugs, and more. The possibilities are endless!

But before you run over and start cranking out "Buy American" stickers, let's talk a little bit about making your products a success. First, the idea is everything. As you can imagine, with the increased ease of this process, more and more people are entering this world, so you need to be even more creative.

If you want to make a career out of it, your best bet is to focus on current events. Remember the Somali Pirates? How about Octomom? Maybe the Swine Flu? Any idea how many people googled each of these things? Me neither, but I bet it was a LOT. And the beauty is that you can develop your idea and get it up on the web immediately! People googling these topics are likely to stumble upon your products, driving up your sales.

Next, let's talk about marketing your products. For starters, you want to develop a great web site. Cafepress allows you to upgrade your store for only $4.99/month. It is definitely worth it. If your site isn't professional, people won't be willing to give you their credit card information. Next, you need to spend some time working on SEO, or search engine optimization. Sites such as Graywolf's SEO Blog can provide you a ton of information on moving your site up the free search results. If you know you have a home run idea, consider using Google Adwords to advertise your site. You will pay per click, but it will really help drive traffic.

It really is that easy! You can have your products up and selling before the day is over. Good luck, and remember, Friends Don't Let Friends Work in a Cube!

Keys to Success:

Be Creative.
There is a ton of competition, so you need to be great.
Be Professional.
Would you give your credit card info to a random half-ass site?
Market it
. Ever heard of Billy Mays? Yeah, Oxyclean is good, but not THAT good.

Sidebar 4: Okay, Okay I'm Motivated, Now Where Do I Start?

As great as Upward Lifestyle is, it is only designed to serve as a launching point. Reading our articles should educate and inspire, but finally our goal is to help you find YOUR path. Once you have found it, you will need better guides to show you the way.

To help in this cause, I have put together a list of the best and brightest authors and the books that changed my life. If these books can't set you off on the right foot, then I am guessing you don't have a right foot......

Okay, here they are. No matter your flavor, you will find something for you. In addition, if you have some suggestions for me, please add them in the comment section below. I am ALWAYS looking for great new books to inspire and educate ME.

Thanks for looking!

Proceed to my recommendations.....

Sidebar 3: Poll Results, How Much Money Would You Need To Retire Right Now?

First off, thanks to all of those who voted in our first poll! There will be more topics forthcoming, so keep an eye out for them. As you may have guessed, there is a reason for each of these poll questions. Hopefully they will generate some good discussions.

Here is my take on the poll results: Surprise. When I was selecting the values, I honestly believed that more people would choose >$1,701,000. As burgeoning entrepreneurs, most of us have big dreams, and feel that we need big bankrolls to back them up. As it turns out, most of us are wise enough to realize that FREEDOM is far more valuable than money. Let's talk about the 2 most popular responses, ranging from $900,000 to $1,700,000 and discuss how easy it is to get there.

According to Internet World Stats, nearly 1.6 billion people around the world are currently on-line. This is a staggering total, and should help you realize just how easy it is to reach that $1.7 million target that most of us would happily retire with. Let's do some math. If you can develop a product to sell online that earns you $10 per sale, you would only need to sell 170,000 of these products to hit the high end of your target. There are a ton of products that you can develop with a $10 profit margin, whether it is a book, e-book, toy, software program, fitness plan, or something else.

To sell 170,000 products, you would only need to sell to 0.01% of the 1.6 billion users currently surfing the web!

That number drops even quicker if you can increase your profit margin to $15 or $20! In reality, your goal is much closer than you realized. By developing one effective sales web site (We will discuss this topic in a later post), creating a product of great value, and marketing it properly, you will be there in no time.

Just to wrap it up, the Google guys have made Billions with their website, so a couple million should be a breeze for you! Start brainstorming for product ideas, and check back shortly as we will talk about developing an effective sales web site for your idea.

Good Luck!

Motivation 7: Desperation

Argggggggggg matey! With all the Somali pirate talk lately, I thought this would be the perfect time to talk about one of the best motivations in the world, the same motivation driving these pirates. While it sounds glamorous, the pirate life is actually miserable. Putting your life on the line every day to steal from others gets old really quick, and there is only one reason they continue down this path. Desperation. The same reason crack dealers keep dealing, car thiefs keep stealing, and prostitutes keep hooking. When your options are limited, you do what it takes to survive.

The global economic situation has knocked the wind out of a lot of people and for all the horror stories we hear, it can be extremely valuable to look back at history and realize the number of businesses that were started during recessions, oftentimes by people who lost their jobs. Some examples, courtesy of InsideCRM.com:

Hyatt Hotels
Burger King
Ihop
Lexus Nexus
Microsoft
CNN
MTV
Trader Joe's
Wikipedia
General Electric
Sport's Illustrated
Hewlett Packard

While the businesses are all different, the concept was the same. They saw a niche that was available, and their founders took chances. Instead of mourning about his struggles at Harvard, Bill Gates founded Microsoft. Les Garland didn't settle for being an average DJ. He took his innovative concept of a VJ to the TV screen and gained thousand of followers by starting MTV.

You have a choice. Settle for your current situation, whatever it is, or take a gamble and start something new. One of the key lessons from the Medici Effect is that quantity of ideas directly correlates to quality of ideas. Thomas Edison is still the world leader in number of patents granted, so it is no surprise that he pulled out some amazing inventions such as the lightbulb. Don't fear failure, learn from it and come back stronger the next time.

So if your situation is not what you envisioned as a kid, get up and do something about it! Find your niche, perfect your art, and change the world!

Good Luck!

Path 14: Rush Limbaugh You Ain't. (Thank Goodness!)


Resources on the Topic:
podcasting-tools.com
Podcasting Bible
by Mitch Ratcliffe
How to Do Everything With Podcasting
by Shel Holz and Neville Hobson

All it takes is an opinion, a microphone, and a computer and the world of Podcasting can be yours. As of September 2008, more than 173 million Ipods have been sold worldwide. Behind every one of these Ipods is a listener begging for interesting material. When the music gets old, oftentimes these listeners wander into the world of the audio podcast. This is where you come in....

Much like blogging, the key to a successful podcast is picking a great topic. A topic that will not only excite you, but resonate with your listeners. The most successful topics fall into one of two categories, informational and controversial. To get some ideas, simply log onto Itunes and download a few popular Podcasts in both categories. This will help you understand what sells.

Informational podcasters were the pioneers, discussing topics such as finance, medicine, or sports. They educated and entertained listeners at the same time, and by doing so, built a loyal fan-base. The other primary group of podcasters rose to prominance using controversial topics such as politics and religion. People like Rush Limbaugh made a fortune for themselves by appealing to a narrow group of political radicals on the radio, and you can do the same on your podcast. Because the cost of entry is so low, you can pick a topic that may only appeal to a limited number of people, but hopefully those people will be passionate and dedicated to your cause.

After topic selection, the next step is setting up the equipment to record and edit your podcast. Programs such as Recordforall, Replay Radio, and Mixcraft are good pay programs, but for me, the best option is FREE! Wild Voice Studio is a completely free program that is a breeze to use. You will be up and Podcasting in no time. While this software makes things easy, you must spend some time with the editing. If your podcast doesn't sound professional, your listeners won't come back, period. A couple of key things that every podcast should have are a nice intro, a disclaimer, and some nice audio segways. These add to the professional appearance of your podcast.

Now that you have your first podcast edited and ready for the airwaves, the next step is uploading to Itunes. While there are other sites to find Podcasts, this is by far the most popular. Register your podcast, upload your content and then wait for the listeners to come. A couple of key tips for success: Choose your name wisely, develop a regular posting schedule (Usually 1 per week for starters), and develop a simple website to accompany your cast. Oftentimes you will want to refer your listeners to articles or clips. This leads to the final component of your podcast, MONETIZING IT!

Much like blogging, there are a few key ways to monetize your blog. If you're podcast is an information cast, you have two primary methods of making money. The first is selling products, either your own, or your affiliates. I discuss affiliate product sales in my blogging article, and I will talk more about creating your own product in a later post. For those that choose to speak about the controversial topics such as politics, your primary means of revenue will be advertising, both on your site and on your podcast. If you have ever listened to Rush Limbaugh, you know how ridiculously overwhelming the advertising is. Try not to overwhelm your audience with too many ads because unlike the radio, your listeners will simply fast forward past your ads if they are boring. Keep them sweet and simple.

So that's it. In no time, your podcast will be up and running. If the content is good enough, the listeners will come and the revenue will follow! So get up and start brainstorming those topics!

Good luck and happy podcasting!

Keys to Success:


Spend some time on topic selection.
If it isn't interesting or informational, no one will listen.
Make it professional.
Practice recording and editing to perfect your sound. There is a reason that Paul Harvey was a radio god. He perfected the voice and the delivery.
Make it fun.
If your listeners are falling asleep, it doesn't matter how good your material is.
Focus on listeners and content before you monetize.
If you overwhelm your listeners with ads before they are hooked, you will chase them away.

Motivation 6: The Quarter Life Crisis

I know, I know, it's supposed to be the midlife crisis, but you know that our generation hates to wait. For most of us, this sad realization sets in much sooner. It might be 25, it might be 30, it might be 60, but we all hit it.

We are raised on optimism. Optimism that hope, hard work, and ambition can take us anywhere we want to go. For me, it was the Boston Celtics, running the fast break with Larry Bird and winning games with last second three pointers. As it turns out, the court was traded for the cubicle and Larry Bird was replaced with the multi-purpose printer. When we reach this fork in the road, we have two choices. Read on and we will discuss them both.

First, we can take the path more commonly traveled. Buy a sports car (probably a cheap one because it's only a quarter life crisis!), settle into that cube, and give up on those dreams. Unfortunately, because this is the easy way, it tends to swallow most people.

But not those seeking the Upward Lifestyle....

Instead, WE take the narrow and difficult path. We pass on that cheap sports car now, knowing that with some dedication and hard work, we can opt for the Ferrari later. We use that cube as motivation to pursue our dreams. Look at that list of paths: blogging, flipping, inventing, or scalping. The true beauty of all of these paths is that THEY CAN BE STARTED IN YOUR SPARE TIME!

So stop reading this article, start looking through the paths on the right, buy a book or two that discuss your path and then

GET TO WORK!

Good Luck!

Path 13: Reinventing The Wheel

Resources on the Topic:

The Medici Effect by Franz Johannsen
Stand Alone, Inventor! by Robert G. Merrick
Thomasnet

How many times have you heard the expression "Don't reinvent the wheel"? If you are anything like me, you grew up with teacher after teacher forcing this expression down your throat. The concept was simple, if something has already been done, there is no need to redo it. My message to you, this saying is pure GARBAGE. In reality, many of the greatest inventions of our time have actually been more of a reinvention of great past innovations. One of the greatest means of building wealth is simply to take a past design and make it better.

For starters, let's look at that aforementioned wheel. Not only has it been reinvented multiple times, there are some breakthrough innovations in wheel design that are sitting right on the horizon.
Does that picture open your eyes at all? Just think about it! What started as a solid stone wheel eventually evolved into a solid wood wheel. From there the evolution continued as some inventor realized that the excess bulk of the solid wheel was not only heavy, but provided little extra strength. Thus, the invention of the spoked wheel. While this wheel was better, the next evolution was the great one. By adding a different material around the rim of the wheel, the ride quality was improved and the durability went to another level. Eventually, with the help of Charles Goodyear, the rubber tire was invented and evolved into the low profile, steel belted radial tire we know today. When wrapped around a lightweight, cast aluminum wheel, the resulting combination is good looking, durable, and provides great ride quality.

If that isn't enough to motivate you, check out the following posting on Autoblog. It is for a new concept, an 8 piece wheel that actually TURNS into a corner for you, simulating the effect of a motorcycle leaning into a corner. Isn't that amazing! That little stone wheel evolved into this amazing design.

So now that you are convinced, let's talk about the process. For most people, the difficult part is innovation. Most things that we use on a regular basis seem "ok" so we don't spend a lot of time thinking about improvements. In my opinion, the best path for finding innovation is to constantly read about other innovators. Magazines such as Popular Mechanics or Popular Science are great for providing this innovation. Not only will it keep you up to date on the latest tech, but it should inspire you to dream. Look for ideas that can be cross pollinated. In the example above, the advanced wheel concept was based on motorcycle technology. This is the key to great innovation. Try to create interesting hybrids between fields. For innovations in cars, look to animal communities. For innovations in architecture, look to tech gadgets. For innovations in business, look to tribal societies. Get the idea? For a more detailed discussion of these techniques, The Medici Effect is a great read.

The key to this concept is dream big. Don't think only of tech innovations. Rethink everything, food, drink, toothpaste, toilet paper, furniture, etc. For one final great example, let me present Give Bottled Water. This is not an innovation in terms of product, but rather the marketing method used. There are 4 different bottled water options available. While the water inside each bottle is the same, the difference lies in the label and purpose for each bottle. For each bottle purchased, a donation is made to a certain charity. Each of the 4 bottle styles represents a different cause, ranging from environmental to various diseases. This allows you to not only help a cause, but also portray a positive image. Brilliant, combining charity with bottled water. Who would have thought?

So let this be your kickoff. Dream big. Cross Pollinate. Be Creative. If you do, some great innovation is sure to come. When it does, you can look back on our previous discussion on inventions for methods to bring your ideas to life.

Good luck and Happy Innovating!

Keys to Success:

Be Creative. Enough Said
Always Be on the Lookout. You never know when that great innovation will strike.
Cross Pollinate
. The easiest innovations come from simply combining multiple fields.
Don't Be Afraid To Ask For Help
. Most of us have friends in a variety of fields. Use them as a resource.

Path 12: Bringing Down The House


Winner, Winner, Chicken Dinner. Those words, made famous by a Chinese dealer, are now synonymous with a BLACKJACK! Thanks to the movie 21, the secret world of the card counter has been revealed. It is a dark world, shrouded with an image of danger and adventure. In reality, the card counting world is a very boring place, where great mathematicians use their brains to earn a slight edge over the casinos. Let's talk about how it works.

In order to discuss card counting, we need to understand the game of blackjack. Blackjack is a game of you versus the dealer. The goal is to have cards with a total value that is closer to 21 than the dealer's cards, without going over. All face cards are worth 10, Aces are worth 1 or 11, and all other numeric cards are worth their face value (ie. a 7 is worth 7 points). At the outset of the game, the player is dealt two cards and the dealer is dealt two cards. In a typical game, the player's cards are dealt face up and the dealer's cards are dealt with one up and one down. At this point, you need to make a decision based on the limited information given to you. You know your total and you know a portion of the dealer's total. You have 4 choices, hit, stand, double down, or split. I am not going to go into the details of the game here, there are some great books for that, but I wanted to give a brief introduction.

So now on to the interesting concept, counting cards. In the game of blackjack, counting cards works for one specific reason: the game has a history. More simply, the cards that have already been played affect the cards still to come. This is the only game in the casino with this trait. Typically, the dealer will play with a 1, 2, 6, or 8 deck shoe. This means simply that the dealer will shuffle a certain number of decks, for now let's use 6, and draw cards from this pile until they have nearly reached the end. At this point, the dealer will reshuffle the entire stack and start again. With this in mind, you can understand that if you have played through 4 of the 6 decks and are yet to see any aces, you can easily predict that a lot of aces are yet to come.

This is the concept that makes card counting work. If you are able to track the cars that have been played, you can predict the cards yet to come and update your betting and playing strategies accordingly. The most popular card counting method is simply called the Hi-Lo system. It was made popular by the MIT blackjack team, and remains popular for its simplicity. In this system, all cards have a value of -1, 0, or 1. The breakdown is as follows:
2-6: 1 point
7-9: 0 points
10-A: -1 points
As the cards are dealt, a running count is kept in the players head. As the count moves positive, this means that there are more high cards than low cards left to be played, which is in the player's favor. At this point, you want to bet big! On the flip side, if the count moves negative, this is bad for the player so you will want to either leave the table or reduce your bet.

So why does this system work? Well it revolves around the basic strategy of the game of blackjack. You can find this basic strategy on many sites, including BlackJackInfo.com. Basic strategy revolves around the fact that odds favor a card with a value of 10 coming next (Because there are 4 cards with this value). Based on this, there is an optimal way to play each hand. If the count moves positive, there are more 10's in the deck, so the system holds up more often.

Now that you know the basics, you are probably wondering how you can make any money with this system. I have put together a simple 5 step program for preparing yourself for a great run at the casinos.

1) Practice and memorize basic strategy. This is essential. Study the strategy tables and then play a ton of blackjack. I prefer using old fashioned cards, but there are great programs for free on the PC or Iphone.

2) Practice counting. This is easy. Just buy 3 decks of cards, mix them up, and then flip them over one at a time while keeping the count. Continue flipping cards as quickly as you can while still maintaining the count. After you have gotten through all three decks, the count should equal zero. If not, you made a mistake. Keep practicing until this becomes second nature. It took me about a month of practicing 3-4 times per week to get really quick.

3) Build up a cash reserve. Even though counting cards will give you a slight edge, you still need a bankroll to protect against bad runs. My general rule of thumb is that your bankroll should be 200 times your minimum bet. So if you plan on playing at a $5 table, you want at least $1000 available to ensure you won't go bust early.

4) Prepare your betting strategy. At all times during your play, you will be keeping a running count. As you may have already guessed, this count needs to be adjusted to account for the number of decks of cards remaining. For example, a count of 16 is far more valuable with 1 deck remaining than it is with 4 decks remaining. So to account for this, simply divide your count by the number of decks remaining. This will give you the True Count. In the example above, if 4 decks are remaining and the running count is 16, the true count is 4. My betting strategy is to multiply my minimum bet by this true count. So again, if my minimum bet is $5 and the true count is 4, I would bet $20. It is easy to get greedy and exceed these limits, but I would highly recommend against it.

5) After you have completed the steps above, you are ready to head to the casino. Before you sit down, I would spend some time watching. Stand behind another player and keep the count, making sure that you're able to keep it even will all the distractions. Losing the count even once can cost you a small fortune.

That is it! If you complete the 5 steps above successfully, you are ready to take a seat. If all of this excites you, start practicing. If you have some success with the techniques above, then you may be ready to move on to more advanced counts or perhaps even team play. I won't discuss these topics here, but the resources below can tell you far more than you would ever want to know.

Finally, I need to dispel one of the largest rumors about card counting. IT IS NOT CHEATING! Many people believe you are cheating, when in fact you are simply using math to beat the game. Because of this, counting is not illegal, nor dangerous. I have spent a TON of time counting cards and have never been harassed for it. Unless you are sitting on the extremely high limit tables, the casino won't even notice. So don't let this stop you!

Hopefully I have convinced you to give it a shot. If nothing else, it is great mental exercise to keep your mind sharp.

Good luck and may the cards be with you!

Keys to Success:

Practice.
Counting and basic strategy need to be second nature before you even consider setting foot in a casino.
Patience.
It is easy to get overexcited on the first positive count and blow your whole stack. Realize that there is still luck, and even with a positive count, you can still lose in the short run.
Do your homework.
All casinos have variations on their game rules. For example, some houses pay 3:2 for blackjack and others only pay 6:5. It may not seem like much, but it really eats away at your profits. Find the optimal game before you take a seat. Some rules that you want to look for: Black jack pays 3:2, Surrender allowed, Dealer stands on soft 17.