Josh Moore

Social Media is something used by millions of people. However, it is sometimes better for both businesses and individuals to leave it.

Picture it like this. Generally, the typical individual inolved in business has:

1. A blog: To write their own content and information to help them show up in Google rankings.
2. Facebook: To talk to people they eliminated from their life a long time ago.
3. Twitter: To talk to the people they wish were their friends nowadays.
4. LinkedIn: To provide an online copy of their resume or business card details.
5. Youtube: To post videos of themselves.
6. Others: Forums, other sites, etc. which they find useful.

It is not scalable. At the start of 2008 I used Tim Ferriss' skills to eliminate most of my email. I still find that most people who do work with me (that actually pays) use email instead of social networks to get most work done. However, the number of junk email I receive has dropped. Instead, I now receive 'Junk Updates' on various accounts, most which distract me and can cause me to spend countless hours a week on the Internet doing things that are interesting but not productive.

As a result, I am in the process of doing an 80/20 analysis of my social networking. Basically, it seems to break down like this:

1. 80% of the clutter comes from facebook and twitter. Facebook takes about 60% of the time and provides less than 10% of the value, given the key people on it can contact me via phone. Twitter was taking about 20%+ of my time since I ended up reading other peoples links which got me distracted. I've unfollowed most people (might unfollow them all) and experiment with a one-sided tweetstream for some time.
2. My blog gives me 80% of the satisfaction (it is self-reflection time) and takes 15% of the time. Also gives me the best results for my name in Google. Linkedin takes about 5% of my time and provides a lot of value including helping me to get testimonials for this site, recoomendations for my current job and a number of other benefits. Thanks to Posterous, both of these can be managed from my email account, resulting in less distraction logging into other networks.

Rather than creating more clutter, the key is to create less volume but more quality. Everyone on social media should ask themselves 'Why bother?' and conduct an 80/20 analysis of their time used. Chances are, it may prove that a heavy portion of the time spent is just not worth it.

If you haven't seen the below video, it is a must for anyone actively involved in the social media space.

Think of it like this. If you spend an hour a week building a relationship with a person who is a follower, you will end up with a follower. However, if you spend an hour a week building a relationship with a leader, you will end up with a follower and their followers too. Better still, if you are spending an hour a week building a relationship with a leader of leaders, you end up with a leader, their leaders and their list of followers.

More than anything else, this is the one thing that makes THE difference between successful bloggers and everyday bloggers. It also is what makes the difference between leaders with a massive influence, and those without.

John Maxwell wrote about this in his book 'The 21 Irrefutable Laws of Leadership'. It is not a new notion.

The question for you is, what type of people are you investing time in? How could this one idea if implemented, change your results?

Randy Pausch, a lecturer at Carnegie Mellon was diagnosed with cancer (and has since passed). His book 'The Last Lecture' and the video of the lecture are both fantastic. However, today I just found another lecture he did prior to passing on time management.

Great reinforcement, plus a few new things. For those who want to have more time later, invest the hour and a quarter now by watching this video

***UPDATE***

Although Randy mentions that no one should need to take notes during this lecture, I did anyway. You can see my notes in the photo below.

• What do you enjoy?
• What have you been successful at?
• When do you feel you’re doing things naturally? What comes easy for you?
• What are you interested in? What grabs your attention on the news?
• What movies or books do you like?
• What makes you angry? What battles have you taken up?
• Which human needs are you most drawn to?
• What inspires you?
• What are the important lessons that God has taught you about your character? 
• What are your core convictions (that govern your actual behaviour) towards other people and relationships?

Photo courtesy of tarotastic

In my last post, I mentioned that there are skills an individual can develop that are essential to running a business that you can learn while working in employment. These skills can dramatically help one improve their chances of getting a pay raise, increasing personal brand awareness, skill development and more. I thought I would include a list of those that I consider to be important to develop:

• Google Suite skills: The day when Microsoft ran the world are coming to an end. I'm seeing more businesses turn to using the Google product suite to reduce costs and improve efficiency. Learning to setup Google Apps for your own website, as well as learning to manage documents, your calendar, email and more through Google Apps will help give you an advantage over your competition and co-workers in almost any small business position (particularly those in the tech space).
• Communication skills: These are the things you know well. Running accounts on twitter, facebook and LinkedIn with a professional appearance and clear communication skills will help give you benefits. Having strong networks is a must for those wanting to succeed in all aspects of life.
• Web skills: If your business is not online then chances are you won't be in business long. Developing brand you requires buying a domain name, learning to setup a blog and being able to keep it up to date with content that will benefit your professional portfolio. You don't need to know how to program code, but learning to write, manage content using a Content Management System (CMS) and learning the ins and outs of online asset management is valuable.
• Personal presentation: If you don't believe that a suit is still the best way to present yourself in almost every situation, simply try going to the pub two nights in a row (the first in normal clothes, the second in a suit). You will be amazed at the difference in the respect you command. Going that extra 10% with cuff links, pocket squares, ties, scarves, a quality wristwatch and great shoes will dramatically improve your success. For meetings, include a nice compendium and a quality pen will appear more professional then a Bic pen and a normal notepad.
• Promotional material: One thing social networking has taught me is that relationships are formed offline, while online supports them. Developing business cards, cover letters, resumes, etc. for your personal brand (linking back to your online activity of course) will assist you in tightening up the loose ends within your network... and with getting new and exciting positions.
• Education: Knowledge is essential to improving your odds. Statistics prove that the higher your education the higher your income. Stay at school as long as you can. Also, read as many books as possible. If you aren't doing this, your losing to someone who is.
• Work to learn: If you are in the early stages of your career, you should be working to learn vs working for money. I spent nearly two years managing a startup on really low pay to gain experiences, which will serve me the rest of my life. During the same time, my friends at uni were stacking shelves and killing brain cells. Now I earn more than them and have heaps of offers for positions post-study. It pays to sacrifice while you are young.
• Save: I surveyed my friends in my entrepreneurship degree (all Gen-Y individuals) and the decision is final: you can't rely on superannuation or others to fund your retirement. Instead of contributing to super, my friends and myself are building cash reserves that will allow us to capitalise on business and investing opportunities when the time comes. Developing the habit of saving is a crucial skill to develop as it helps you build a safety buffer in the event you become unemployed. It also teaches you to live on less, rather than buying everything you can.
• Mentors: Mentors can help provide connections, get you work and teach you knowledge it would take years to learn yourself. I have one main mentor that I catch up with monthly-quarterly, and then have areas specific mentors also. A mentor is good because they can provide advice but will also let you make mistakes if they feel they will help develop your character. Get one ASAP.
• Social: Learning to live life outdoors is important. Getting out to meet new people will help broaden your experiences and knowledge. As work takes up a lot of time, this is even more important to ensure you don't end up with 'tunnel vision'. Go out, try new things, meet people and have fun.

What other skills have you learned while working for someone that you have found to be valuable in business?

'Working for youself gives you a higher chance of success'

Have you ever heard comments like the one above before? Chances are you have. Most people always believe that the grass is greener on the other side and that leaving employment to start your own business is a much better option. Although this idea always tends to spark a sense of excitement within us, the truth is often overlooked: employment is better than you realise.

Think and Grow Rich by Napoleon Hill is a book that always comes highly recommended in the entrepreneurial community. The basic notion of the book is that 'You can achieve anything you believe is possible'. Many people use this book as an inspiration towards success and riches, often opting to start their own business and leaving traditional employment.

However, Napoleon Hill was never an advocate of leaving employment (at east not in the short term). In his earlier 1,600 page monstrosity 'The Law of Success' he wrote "It is no disgrace to serve in the capacity of employee. To the contrary, it often proves to be the most profitable side of an alliance since not all men are fitted to assume the responsibility of directing other men.'.

Just because you are working as an employee for someone else does not prevent you from learning skills required for success. There are a number of skills that can be mastered both as an employee and an individual. For example, take the habit of saving. According to billionaire Mark Cuban, saving is the best investment advice anyone can ever receive. I tend to agree and would take the advice of a billionaire before listening to the typical business owner. Savings is better than traditional investments because:

1. It teaches you to reduce costs and to find ways to save further (by buying in bulk, planning, etc.).
2. The returns are higher (buying in bulk or paying off debt does not incur tax).
3. It teaches you discipline.
4. It helps you to develop a positive habit.
5. It teaches you the importance of making sacrifices.

There are also a number of skills that can be developed by a person as an individual. Even as an employee, you are still required to market and sell your personal services, which can teach you skills such as personal branding, personal presentation, marketing skills (using documents such as a resume and cover letter, business cards, a website/blog, etc), negotiation, etc. Additionally, if you master the habit of learning to do more than you are paid for then you will likely increase your income, which will allow you to learn new skills in a better position, gain new insights and of course, save more money.

These skills may seem simple but they are the same skills required to succeed as a business owner. If you can reduce expenses within an organisation and then increase the value given to a client, you are able to increase profit levels. Learning this in your own personal life is the best place to start to master these skills.

One other benefit of learning these skills while working in employment is that you begin to build a capital base (thanks to your savings). Cash allows you to have the ability to invest in opportunities not normally open to others (such as the option to buy into an existing business or to pick up deals at affordable prices when everyone else needs to liquidate).

Napoleon Hill again saw the benefits of this when he stated 'There are opportunities on every corner, but they exist only for those who have ready money, or who can command money because they have formed the habit of saving...'. J.P. Morgan said he would rather loan a million dollars to a man of sound character that had formed the habit of saving money, than he would a thousand dollars to a man without character, who was a spendthrift.

I have a friend who is 28, debt free and has saved over $100,000. The opportunties this capital will make available to him in his 30's is exciting! If he had been working for himself he would have needed to reinvest this money back into his own business, which would have prevented him from preparing for other opportunities which may prove to be more worthwhile.

The next time you would be better of leaving employment to try it on your own, remember to way up the possibilities. Saving, learning at someone else's expense, developing marketing skills and habits are bound to open just as many (and possibly more) opportunities than you would find in self-employment.

Chances are if you were like me, you were lead to believe that doing a number of differnt things would make you a success. If you blogged, had a high number of followers, ran your own business, etc. then you must be living the dream right? WRONG!

My experience with business has been an emotional rollercoaster. At the moment I am back to working as an employee because my businesses were not generating enough income to sustain my lifestyle (which is a student lifestyle). This time twelve months ago, I was working only a few hours a week, was cruising along and had over $10,000 in the bank. Now I am back to square one. This is the entrepreneurial journey that most people don't talk about as people can't understand the situation and stress entrepreneurs face.

Luckily, I have been fortunate enough to see two posts shared this year which outline similar experiences both in business and self help.

The first is by Jon Sinn. Jon is a pick up artist who blogs over at Sinns of Attraction. A few months ago, he put up a post titled 'Why people fail at self help; Don't talk about it, be about it.' In it he discusses that most people read too much but don't take enough action to make a difference in their lives. As a result, they get addicted to self help, thinking the next book or program will save them rather than taking action on what they have already learned. I highly recommend anyone who is into self-improvement to read this post and to assess your situation.

The second is by Erica Douglass. Erica sold her business at the age of 26 for $1.1million and has since been blogging and working on some other businesses. One of her latest posts discusses the issues she has been facing. While she has been making what others would term 'good money'  it still only just covers her employee expenses in trying to develop her various businesses. She claims for all the hours she is putting in she is probably on less than minimum wage if calculated hourly. Additionally, she recently found out that the house she has been saving for cannot be purchased using 'dividend income' from her previous business. This, combined with over $70,000 worth of tax bills in the last 12 months has inspired her to write a terrific post about her struggles.

The more I learn about entrepreneurship (both through my degree and my experiences), the more I find this is the reality for most of them. Sure, they may appear to sit at home and do nothing while making boatloads of cash. In reality they put in more hours than most people and while making a lot their personal income from Net Profit is not usually as high as they could get in a salaried position. While building an asset they may appear to have money on paper, it is not realised until sold and converted into cash (hence the term 'asset rich, cash poor'). Kevin Rose, founder of Digg.com once said that although he was quoted to be worth millions he still had to save money to buy a couch for his apartment.

Others in employment face the same issue. They read and spend time learning how to get out, hoping the next insight will be the one that sets them on the path to freedom from employment. The reality is it is far better to act on a little knowledge and to learn along the way then it is to know everything at the outset.

If you want to buck the trend and try something new in your life then go for it. Just remember that the reality is that things usually look better than they seem. The grass appears greener on the other side.

Do you try and compare yourself to others?

If you are like me, chances are that you do. I've spent a long time comparing myself both to people who are more successful than myself and to people who have done nothing. After spending countless hours stressing about where I should be I have realised one thing:

IT DOESN'T MAKE A DIFFERENCE

Each of us lives an entirely different life. No one can walk in our shoes and live our life for us. If we want to make a change and to achieve the best we can, we have to take action.

Comparing doesn't help us to take action, it only causes us to become demoralised or to help demoralise others by putting them down. Some people even get to a point where they spend more time comparing themselves to others than they do making a change in their life.

For those of you who do like to compare things (like me) there is a solution. You can compare your current situation to the situation you were in 1-5 years ago. Chances are there is a big difference. If your situation is worse now it was 1-5 years ago, you know it is time to make changes.

Forget what others have done or are doing. They have had different opportunities in their lives that you have not had available to you.  Focus on the opportunities you have in front of you to make begin making a difference in your life. Take small steps today:

1. Put $25 in a savings account and add a little each week.
2. Spend a few hours a week reading books related to your job.
3. Start exercising ten minutes more a day than you did previously.
4. Do a little more of what you know you should be doing.

Make a small step that is better than what you are doing currently and watch your results improve. Comparing yourself to others will stagnate your growth. Comparing yourself to your past will help you get a true perspective on how you much progress you are making in your life.

Hey there,

So today at work I spent a few hours talking to five university students about to graduate. They are doing a work placement project for us which will be extra stuff they can add to their CV. As we got talking, I had a few pieces of advice for them to help improve both their CV and their ability to go from one position in a business to another much more easily. The main ones were:

1. If you don't feel your major (i.e. International Business) is worth much, just list that you have a Bachelor of Business on your resume (mention in the blurb underneath that you majored in International Business).
2. Focus on the key transferable skills you have developed rather than the specifics. For example: I learned how to use Content Management Systems by using Joomla, Wordpress, Blogger, Posterous, Dot Net Nuke and so on. The transferable skill is knowledge in using a CMS. The specifics are helpful but it is the general skills that are transferable, which allows you to learn much more rapidly.
3. Develop management skills by first managing your own projects, time, money, family and friends, etc. These are areas where you can experiment on a micro scale whiel still teaching you the same skills that are crucial to success in business.
4. Create a blog to improve writing skills. With an increasing number of positions being made available in professional services it is important to master writing skills as well as networking and online abilities.
5. Get on LinkedIn. It is where the professionals hang out. Facebook seems to have more friends and issues than opportunities to make money. Start building your network one business contact at a time. In the future years they will be of great importance to you and may help to open up a world of new opportunities for you.