5 Wealth Lessons From Steve Pavlina


Steve Pavlina’s personal development blog, StevePavlina.com earns him $40,000 a month. Of course for a lot of us this amount is out of context in terms of revenue, but Pavlina tries to simplify the steps he take in his journey to become a millionaire.

1. It’s damned hard to earn a million dollars from scratch.
2. Self-interest is insufficient motivation.
3. Focus on providing value to others, and the money will follow.
4. Becoming a millionaire requires a significant identity shift.
5. Financial trolls must be shown no mercy.

Those of you who have been reading this blog know that I’m not a big fan of inspirational posts, but Steve manages to stimulate both your ambitious and your practical side to aim higher.

In my favorite part of this post he says that to make a certain amount of money, say 1 million dollars, you will have to provide something that is worth 1 million dollars in exchange. He says that providing digital content is easier and more profitable on the net.

This makes sense, providing value through digital content is more profitable than providing the same value through tangible items. This is because providing value through digital content is much cheaper than trying to sell a tangible product. Writing an article that will earn your reader $10 is more profitable than selling him a tangible product for $20.

5 Wealth Lessons From 20 Percent of a Millionaire

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Allen, that is exactly what we need to understand about the internet. That is why I chose to focus on the internet to create wealth as it is, in my opinion, the greatest opportunity for the average person to break away from their dead end jobs.

Don’t get me wrong, this “easy” money does come from skill, meaning it is work learning the methods, and it is time consuming if you don’t learn how to outsource, and it is challenging if your working from a shoestring budget.

The belief that wealth is created by your ability to think is what started my dream years ago.

Anyways, that was a great post Allen!

Thanks for your words J.R., I’m glad you got it what i meant right since sometimes i don’t explain myself as well.

Anyway, keep dropping by as I’m currently writing a mini-series on how to improve personal-business blogs. The first part should be published within the next 2 days :)

Allen

I agree with all of your points. However, one that must be remembered is the fact that the internet is not like old fashioned business where if you build it they will come. Sure, if you create a decent site, you’ll get nice google search results, but you still need to advertise, and draw people to your site on your own.

One of the sites in my ‘network’ is restaurantselector.com, and everyone tells me it’s a really great idea, and it’s not like I making no money on it, just not as much as I have put in. I feel that if everyone knew about it, it would be proftiable. The hard part is getting it out there that it exists.

Yup, money is hard to earn today in the internet scene. As I readed some history articles, in the past it was easier….

at this time: never stop link building, always keep an eye open for good backlinks. and build your audience!!

apexad: I can’t really agree with the point you presented. I’m not sure if you’ve read the post i linked to at the end of the post, but here’s why i think things work the other way around.

Bringing a visitor to your website is much more easier than bringing a buyer to your newly opened furniture store. Remember, it may be hard to kick off - But as you start to grow volume captures more importance, and where can you get so much volume without spending a dime if not the internet? there is no digg, reddit, stumbleupon or Fark offline, and even if there is, it’s going to cost you some bucks, lots of ‘em.

Regards,
Allen

[…] Allen H. of AlleNation wrote in his recent post: …providing value through digital content is more profitable than providing the same value through tangible items… […]

Well, I still think that a brick and mortar furniture store will get discovered by people that you did nothing to attempt to bring in. If you put up an internet site and tell nobody about it, there is virtually no way to get traffic to it, and that is what I meant.

Also, I read your post, but mostly skimmed Steve’s, his was a bit long ;) … maybe that attitude is why I am not an internet millionaire yet.

To continue… Yeah, it can be easier and cheaper to get more pure volume to your site on the internet. The thing is though, on the internet there is also alot more competition. Whereas if your the only brick and mortar furniture store in a huge area, and their is a high demand for furniture, they will come. Wheras on the internet you can put up the biggest sign on in the world by submitting your site to google, but inless you get link exchanges, and other advertising google will never rank you high.

I hope my point is coming out.

Also, I read your post, but mostly skimmed Steve’s, his was a bit long ;) … maybe that attitude is why I am not an internet millionaire yet.

It’s good that yourself-aware Mr., surely with that attitude you aren’t going no where =). Let me try to counter your point:

First, who said that submitting your site to Google is the biggest advertising sign on the internet? that is one of the very measly things you should do as an essential and not promotion. If you want to compare it with an offline business, submitting your site to Google is like unlocking your door on the opening day, advertising/promotion is way beyond submitting a site and waiting.

And trust me, to pull decent amounts of cash and traffic you will need a lot more than link exchanges. When i read what you’re saying I’m afraid you think i meant making money on the internet is easier than in real life. Well that’s not what i meant, but leveraging an online business to the higher levels is more possible the average man, unlike leveraging your furniture store, which may actually take most of your monthly profits.

Allen