If you're an info-addict, no need to sit there with an embarrassed look on your face like this pup - help is on the way

Hey You,

It’s Lewis aka Nerd #2.

Why is it that the suggestion of “Hot, Fresh, and Sexy” information about getting rid of pain and moving toward pleasure gets your blood racing and the “Old Steady Betsy” tried, true, and proven answers leave you deflated and disinterested? 

I think it’s the universe’s perverse sense of humor.

It’s little test to see what head you’re acting from – the reptilian part at the tip top of your spine… or the one that sparks the gift of reasoning in your frontal lobes that separates us from our chimp cousins.

I’ve got a book recommendation for you today. It’s “The Pledge: Your master plan  for an abundant life” by Michael Masterson. Just in case you don’t know or don’t remember how 500th degree black belt this guy is when it comes to making money, here’s a quick peek into why you should perk your ears up when he talks…

Michael Masterson has developed a loyal following of more than 450,000 subscribers with Early To Rise, and e-newsletter published by Agora, Inc. Throughout his remarkably successful business career, Masterson has been involved in two businesses that grew beyond $100 million (one of which has grown to nearly $300 million), tow more that exceeded $50 million, and several that surpassed the $10 million mark.

Michael has built a vast part of his fortune selling life transforming solutions to problems and he’s been able to do this because he ignores the naked promise of the quickie – the fleeting bliss info-addicts only experience when they hit “Add To Cart” and instead opts for the extended multi-orgasmic pleasure that comes from following two simple rules.

Here’s the section of his book where he talks about what he does to avoid this temptation so that he gets to be rich, happy and satisfied instead of broke, bitter, and frustrated… 

Giving Up Your Information Addiction

I hadn’t seen Dave in almost 20 years.

He was my dentist when we moved to Boca Raton in the early 1980’s. He continued to take care of Kay and the kids after we moved to Del Rey beach 10 years later but I opted for dental care closer to home.

Dave contacted me when he discovered that I was the man behind the “Michael Masterson” pen name.

He’d been receiving Early To Rise for a while and liking it. One day he went to the website and saw my photo. “I know that guy,” he thought. So he got my email address from Kay. “How about lunch?” he wrote, “I’ve got a bunch of things I need to ask you.”

Several weeks later we were eating chopped chicken salads at City Oyster on Atlantic Avenue. Dave seemed nervous. It was as if he were intimidated by the Michael Masterson persona.I did my best to assure him that I was the same person who used to wince in pain when he cleaned my teeth.

We talked a bit about family news but it was clear that he had something else on his mind. On his mind was a decision he was trying to make. Should he spend $100,000 dollars on the highest level of an internet marketing program he’d been looking at.

“I’ve been studying their stuff,” he told me, “it’s really good. But I’m not sure it makes sense for me to invest that kind of money.”

“A hundred grand is a lot of money,” I said. I felt like Sam Spade talking to Gutman about the price of the Maltese Falcon.

“But you get an awful lot for your money,” Dave explained. “They do all the technical stuff for you, which I’m not very good at. All I’d have to do is come up with the ideas.”

“Well,” I said, practicing my best Sam Spade drawl, “What ideas do you have?”

In fact, Dave didn’t have a single one.

“All I know is that I’m in the wrong business,” he said. “I took this self test online and I found out that I’m in the worst business in the world for me.”

At nearly 50 years of age, Dave had just concluded that his career had been a waste.

“I wanted to be a dentist since I was eight years old,” he told me. “If I’da known then what a bad business it was for me, I woulda done something else.”

“Like what?” I asked.

“Like what you do,” he said smiling but he looked serious.

“Look,” I told him, “My business is a great business, but I don’t think that you should conclude that your life has been wasted simply because you took some pop quiz that was probably designed to sell you something.”

“But it was right!” he insisted. “It proved something I’d always known but was afraid to admit. The waitress filled our drinks. We ate in silence for awhile.

“So what I’m thinking is that since I’m not into the technical stuff, this internet marketing program would be very good for me,” he said.

“How much time have you invested in learning about internet marketing?” I asked.

“About 3 years.” he answered.

“And how many information products on the subject have you bought in that 3 year period?” I asked.

Dave laughed, “I can’t even count that high,” he said.

“How much money have you spent?”

“Tens of thousands, probably more.”

“And yet, you haven’t actually started an internet marketing business.” I said.

He nodded, then rattled off the names of every internet marketing program he’d bought. All the ones that I knew and dozens of others I never heard of.

“That’s a lot of buying,” I told him.

“Tell me about it,” He said.

“Information is not knowledge.” Albert Einstein

Dave explained that when he reads an advertising promotion pitching a new internet marketing product, he is “totally taken in by it,” even though he realizes that he’s just reading a sales pitch.

“But even though I know I being seduced by professional wordsmiths, I can’t stop myself from buying.”

“I hear you,” I said. “You are an information junkie.”

“You think?”

“I do.”

“What about you?” he said. “I read that you read a lot of informational books, about one every week.”

“I do,” I said. “But I’m not an information junkie. I’m an information user.”

“So what’s the difference?”

I explained that the difference was huge. An information junkie is addicted to the process of buying information. Although he may delude himself into thinking otherwise, he has no intention of ever using the information he buys.

An information user is very practical about his purchases. He buys information for very specific and pragmatic purposes. He uses the information he buys to achieve specific goals… to start or grow a business, to learn a new language, to improve his negotiating skills.

An information junkie is happiest at the moment he is buying the information. His enthusiasm soon wanes however. Within hours or days of receiving it, the information junkie is onto other things.

The new product goes up on the shelf with the old products. He’s excited about the next new one.

An information user makes progress. See him reading a book about nutrition and there’s a very good chance that if he likes the book, that his eating habits will change in the immediate future.

The information junkie in contrast may have 26 books about nutrition in his living room. He may have even read them all, while he was lying on the couch eating potato chips.

An information user is someone who consumes information to profit from it. If he invests $100 dollars in learning about some subject, he expects to see a substantial return on that investment. Perhaps a $1,000 dollars of value – material or spiritual.

An information junkie consumes information like drugs or candy bars. It gives him an immediate rush and then nothing afterward. That’s why he needs to buy more.

The information user has long-term expectations when it comes to knowledge. He believes the knowledge he acquires now will compound over time as he learns more and is in a better position to leverage what he’s learned to a greater benefit.

The information junkie is in it for the here and now. He doesn’t believe in saving. He’s always on to the next hot thing.

What about you? Are you an information junkie? Take this test and see…

1. In the past year I’ve purchased more than twelve books that I haven’t read…

“Yes’” equals 2 points.

2. In the past year I’ve purchased only information products that I have used… “Yes” equals 1 point.

Between one to three $100 dollar information products that I haven’t used. “Yes” equals 2 points.

Between three to five $100 dollar information products that I haven’t used, “Yes” equals 3 points.

More than 5 $100 dollar information products that I haven’t used, “Yes” equals 5 points.

3. In the past year I’ve purchased at least one $1,000 dollar information product that I didn’t use…

“Yes” equals 5 points.

4. I am most excited about the information that I buy when…

I’m ordering it… “Yes” equals 3 points.

When I receive it… “Yes” equals 2 points.

When I begin using it… “Yes” equals 1 point.

5. When I read a book, I feel compelled to read it from cover to cover…

“Yes” equals 2 points.

6. I generally take notes when I read something…

“Yes” equals 1 point.

“No” equals 2 points.

Well, how did you score?

If you scored 8 or above, you are indeed an information junkie.

You might think the good people at ETR would like that since they are in the business of selling information. But they don’t. The people at ETR know that their business will grow stronger if they develop a customer base of information users rather than junkies.

That’s because information users benefit from the knowledge they buy. This means that they are more discriminating which favors ETR products since they are some of the best in the business. They buy more products in the long run and they request fewer refunds.

If you are an information junkie, don’t despair. You can convert yourself into an information user simply by following two rules…

Rule One: When you buy an information product, set specific deadlines for consuming it and implementing what you learned.

For instance, set a goal that you will take one of it’s recommended actions within 24 hours of receiving the product. Then resolve to take at least one more recommended action each week there after.

Rule Two: Don’t buy another product until you’ve made some progress with the one you previously purchased.

That’s all there is to it.

Obey these two rules and you’ll not only break your addiction, you will radically improve your life.

==========================

Michael Masterson Exits Stage Left

==========================

He’s good, eh.

I’ve been a fan of his for 6 or 7 years now. I’ve yet to be disappointed when reading, listening to what spills out of him.

Like Early To Rise, a portion of my income comes from people who like to consume information but I like you whether or not you’re an info-junkie or not. Why? Because I fully embrace Pareto’s Principle aka the 80/20 rule.

Yeah, it’d be nice if everyone who bought our notes, consulting, products and used the hell out of everything and got awesome results as a result of doing so. But lusting after this fairy tale in the face of reality will only lead the info-marketer into a depression because the fact of the matter is, 80-85% of people who buy information won’t use it.  

Yep, even your customers who are “different”.

Why? Because You take any population and here’s what you’re gonna find – 1% are kicking ass and taking names and they’ve got all the money. 4% have a little of it. 15% are doing OK. And 80% are clueless and broke.

It’s the same in any field, any population, all the hotel owners, or all the restaurant owners, or all the football team owners in the NFL or all the anything, doesn’t make any difference.

Doesn’t change.

Nothing over centuries has changed this and nothing will. The place to get the consistent money is from the 5%. Not from the 95%.

You are FAR better off dealing with the 5%’er’s than the 95%’er’s.

You can fight this, or you can accept it and counter it by realizing how incredibly valuable to get in front of other people’s lists of buyers so that you can migrate their top 5%’er’s over to your list.

(Using Eben Pagan’s process for doing this would be in your best interest)

At max, only 15-20% of your list is going to consist of the most valuable customers who give you your best success stories, the most money over the years, and behave themselves.

Your income level is going to be determined by how large or small that 15-20% is in your business.  This is why your marketing is a non-stop and never ending process.

Another thing I learned from Michael is that the way he helped Agora Financial start raking in jillions of dollars and turned them into a info-publishing powerhouse was by getting them to focus more of their marketing efforts on new customer acquisition than their house list.

Your house list is valuable but only to the extent that it keeps growing (especially that top 5%) and this only happens when you get in front of people who’ve never handed you money before but are highly likely to do so.

So follow both pieces of Michael’s and Eben’s advice, on kicking your info junkie status, and on pumping new blood into the pipeline and you’ll be sitting pretty.

Talk soon,

Lewis LaLanne aka Note Taking Nerd #2 

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