The Most Important Key to Success
- Do What You Love - You aren’t going to be successful at something you spend all day dreading. When I was excited about software engineering, I was good - perhaps even above average. When I got stuck on a project that didn’t interest me, I was honestly a poor software engineer.
Preparation and Planning
- Make a List of Short, Medium, and Long Term Goals - Each night before I go to sleep, I try to write down 5-10 things that I want to accomplish the next day. I make sure that at least 3-4 are things that I can complete that day and purge from my to-do list. I also make sure to add a couple of small parts of medium or long-term projects. Here’s an example. I’m looking to write an eBook. One day my goal was to create an outline of the book - 9-12 chapters and 3-5 things that I wanted to cover in each chapter. The next day one of my goals was to write at least one of those 3-5 things in one chapter. In 1-2 months, I’ll have my eBook written.
- Catalog Your Progress - I started this blog to keep me accountable. I can’t go out and buy a Ferrari on credit and then write about it here. Instead, I catalog my alternative income progress here. Each day, I think about how I’m going to grow that so that next month I don’t have to live up to my moniker.
Learn These Skills
- Sales / Marketing - Even if you don’t think you have a product to sell, you do… yourself. I’ve learned that sales and marketing are not easy skills to learn. You can’t shout “look at me!” or people will think you are obnoxious. You have to find people who might be genuinely interested in what you have to offer. I always find it best to be open and honest with what I have to sell. If the product is of value, you price it accordingly, and have the right buyer, it should sell itself. I’ve found that if you have to “sell” to hard, it’s probably going to be a sale you regret making.
- Public Speaking - I might be one of the most shy people on Earth. Talking to someone one-on-one often ties my stomach in knots. Imagine how I must feel about public speaking. I remember it was a required class in high school. I started off horrible, but by the end, I had earned an A. It’s really a case were practice means everything. I suggest an organization such as Toastmasters.
- Writing - Even if you are crafting a short e-mail, try to use proper grammar. You’d be surprised how many e-mails I receive where people make 6 mistakes in 6 sentences. Perhaps it shouldn’t, but poor writing skills on the first impression impacts my view of the person’s intelligence and/or professionalism - and not in a good way. A person who can write great commands my respect and my trust.
- Networking - Get out there and meet new people in your areas of interest. When you know a lot of people, opportunities multiply. To go back to my eBook example above, I found someone who already has a successful eBook. He’s in the process of getting it translated into an audio book now. He could definitely be a great resource for me to learn from. He’s newer to blogging and doesn’t have the number of readers that I have. I can probably give him a few tips and help him out. Now if I knew 100 people like this guy, I’d have a solution to almost every question I’d ever have at my fingertips.
- Read More and Faster - I have always been a very slow reader. I simply don’t scan text very well. Perhaps I’m afraid I’ll miss a critical word or something silly like that. This is one area that I’m going to work on in the new year. Much of my time is spent reading, you’d think I’d at least be good at it.
Take Action
- Help Someone with Something Everyday - This may sound like some kind of “Pay It Forward” hype. In some ways it is. I estimate that I’ve given guidance to around 50 or 100 bloggers who are just getting going that were looking for advice. Some of them became successful bloggers and some stopped blogging. The successful ones have returned the favor 100 times over or more. They link to my articles, they comment on my site, and fill me in with opportunities that I would have otherwise missed. This isn’t limited to blogging. If you mentor someone, you’ll be seen as a natural leader. I’ve always seen a strong correlation between leadership and success.
- Make Mistakes - When I just got out of college, I took a job with a top ten Internet company. It was a very high profile job as I managed the search engine myself. It was about 20% of this 2 billion dollar company’s traffic. The thought that I’d make a mistake scared me to death. I spent each day walking on eggshells until the day that I made a mistake. A strange thing happened. No one got upset with me, and we were able to recover pretty quickly. From that experience, I learned to always have a back-up plan. This allowed me to take some risks, experiment more, and eventually produce ideas that made the company millions. Just as importantly, I realized that I should tolerate other people’s mistakes.
- Surround Yourself with Like-Minded Individuals - There are studies that show an individual’s income will be somewhere around the average of your closest five friends. That formula works for me and my closest friends - or it did until I decided to build my career from websites. There are also studies that show your weight will reflect those who you hang around with. It makes sense if you think about it. If your circle of friends likes to bounce business ideas off each other while playing a game of pickup basketball, you’ll probably put yourself closer to the path of prosperity than if you tell fart jokes while eating Bon-Bons.
- Exercise - Whenever I work out, I am all pumped up with endorphins for hours. It feels like nothing can stop me - as if I could tackle a bear. Instead of tackling a bear, I focus that energy on my list of goals and churn through it like never before.
- Start a Website or Blog - It’s easy to talk the talk, but what matters is if you can walk the walk. A website or blog not only makes you accountable for the goals that you set, but can also help you network and gather useful information. For more inspiration read how personal finance blogging helped me.
Be More Productive
- Don’t Get Wrapped Up in Television - I love television. However, I try to watch shows that you don’t have to follow too closely. This way I can work while it’s on. You won’t see me watching a lot of Law and Order because it requires too much of my focus. However, having the Red Sox on the background doesn’t distract me from accomplishing what I’m trying to.
- Commute with Books on Tape (or Podcasts) - Most of the people I know have a 30-60 minute commute to work each day. You can listen to some morning talk show or a shock-jock DJ or you can learn some of the skills that I mentione above. I’m not saying that you should throw away all entertainment, but if you are looking to increase your productivity, utilizing this downtime is a great start.
- Declutter and Organize Your Home and Work Area - I used to waste a lot of time looking for stuff. The problem? I had stuff everywhere. I couldn’t find the stuff that I needed from the old stuff that was piled around it. It’s amazed me the number of things that I had around the home that I didn’t use. Finally I simply said “Stuff It!” and got rid of most of the stuff that I didn’t use and put other special stuff in a closet that I’ll probably ignore for another years. Just like in What About Bob, “baby steps…” I tell myself.
Think Your Way To Success
- Think Positively - I’m not going to get Stuart Smalley, Motivational Speaker on you, but making the conscious decision to focus on being financially successful is extremely helpful. Bringing finances to front of my mind, instead of the back has made a huge difference in my finances.
- Don’t Hate Money - Lose the thinking that money is the root of all evil. Start thinking about it as a key to freedom to do whatever interests you. Think of it as a way to help friends, family, and charities important to you. Think about how you could use money to make the world a better place.
- Appreciate What You Have - Schedule a day just appreciate yourself. Appreciate the things that you do have. The fact that you are reading this likely means that you are much better off than others in the world.
- Be In A Good Mood - One of my favorite lines from Say Anything is when Lloyd Dobler (played by John Cusack) says to his sister, “Why can’t you be in a good mood? How hard is it to decide to be in a good mood and be in a good mood once in a while?”
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Posted by Lazy Man on January 6, 2009 in
Productivity
By this time I hope you have shaken off what’s left of that New Year’s hangover. It’s time to assess the damage to your bar. Your vodka and rum supplies are running a little low, right? You’re just going to go out and replace it with Smirnoff? That’s what everyone does. This year, why not do something a little different, be a little bolder? With that in mind here is how I stock my bar with some lesser known, high-value, high-quality liquors on a budget.
Basic Liquor Tips
- Know when to break out the good liquor - If your boss is coming over, don’t offer him Beringer White Zinfindel or Mad Dog 20/20. Stick to bottles that are made of glass, not plastic. Save the cheap stuff for you and your buddies.
- Go frugal when mixing - A mixer like cranberry juice will mask much of the taste of hard liquors. Why pay a premium price when you aren’t getting premium taste?
- Fill older premium bottles with cheaper liquor - It’s with my tongue in my check that I offer this “tip.” This is definitely a controversial practice and probably one that won’t win you a lot of friends. However, I would venture that most people can’t tell the difference between a good and a great liquor - the bottle and reputation seems to play a large role in people’s judgment. I’ve never tried this (it makes me uncomfortable thinking about this deception), but from a frugality standpoint alone it almost makes sense.
Vodka
Best Vodka
Vodka is probably the most-consumed hard liquor in the United States. It seems to mix well with anything. This should be a staple of your bar. When hosting a party, it’s wise to have an extra bottle on hand and it will surely go the fastest.
- Best Value Cheap Vodka: Popov Vodka - Why Popov? It’s made by the people, Diageo, that make Smirnoff and Ketel One. It isn’t the same quality as those brands, but it’s not turpentine like some other cheap vodkas out there. I can often find a sale for 1.75 liters for $9.99 at the local drug store.
- Best Value Premium Vodka: Tito’s Vodka - Who’s vodka?!?! Chances are you’ve never heard of Tito’s. I have only found one bar near me that carries it (and that’s only because the owner is from Texas where it’s from). You may think that Tito’s would make a better tequila, but just trust me on this one. It’s by far the best vodka that I’ve ever tasted - and I haven’t found someone who disagrees with me on that point yet (though the sample size is a small 5 people). Don’t use Tito’s for mixing, grab the Popov for that. Instead savor it on the rocks or chilled from the freezer. Most places sell it for less than $30 for 1.75 liters. This is one rare instance where get quality without having to pay for the fancy bottle.
Gin
Best Gin
Gin is my favorite of the hard alcohols. For some reason it seems to be underrated. When I go to a bar, the majority of gin choices are martinis. Not that there’s anything wrong with that, but there’s more choice out there than martinis. Maybe it’s because “the kids” are all drinking vodka and rum. Gin has a place at the front of my liquor cabinet though - even before the vodka.
- Best Value Cheap Gin: Gordon’s - This is a solid gin for mixing. Fits well in a Tom Collins. The price is right and you won’t breathe fire after drinking it.
- Best Value Premium Gin: Tanqueray Ten - Some may prefer Bombay Sapphire. It was my favorite until I tried Tanqueray Ten. I haven’t gone back. Like Tito’s Vodka above, don’t let me catch you mixing this. It’s hard to call this a value (often a little over $30 a liter), but there are worse values for your gin dollar out there. The bottle also can be turned into a cheap, stylish soap dispenser for a kitchen.
Rum
Best Rum
When Money Magazine decides to buy out Lazy Man, I’ll move down to Aruba. Of the million different rums in the Caribbean, I’ll be happy to spend $10 on a bottle of Aruba’s Palmeira Rum - a great rum that is impossible to find in the United States. Even with my Money Magazine millions, I’ll still kick it frugal style and keep it real. (Note: spend some of the millions learning some of the cool slang.)
- Best Value Cheap Rum: Barcardi’s Gold - This is more of a mid-range pick - I can’t recommend anything in plastic value unless it’s under $10… and you like headaches. Barcardi’s Gold is good for the price.
- Best Value Premium Rum: Mount Gay Extra Old - A typical third-grader may get a chuckle from the name, but this drink is no laughing matter. The difference between this and most other rums is huge. On a side note, I’ve had the good fortune to tour the Mount Gay distillery facility. I want to make a special mention here to Captain Morgan’s Private Stock - it’s in the same class with Mount Gay Extra Old and similarly priced. It was almost a coin flip between the two.
Tequila
Best Value Tequila
I’ve always been against tequila - can’t stand the stuff. You are in luck though, because one of my friends (owner of this
collectible bottle online store) is a tequila connoisseur. I spent 10 minutes chatting with him (no tequila was consumed by either party during the chat) and learned that some $300 tequila’s aren’t as good as $100 ones in his opinion. I’m at a loss that people would pay so much for something that I find wretched, but everyone’s different (and I’m more different than most ;-)).
- Best Value Cheap Tequila: Jose Cuervo Silver 1800 - If you have a budget of $20 or under, Jose Cuervo is the way to go.
- Best Value Mid-Range Tequila: Tres Generaciones Silver Tequila - This is my friend’s standard says that this is the best value for a $30 Tequila. This is his pick for the frugal pick when you are entertaining to make a big impression. He also gave Cabo Wabo Silver a mention which is in similar price range.
- Best Value Premium Tequila: Casa Noble Silver - For around $50 bottle you can get the value of some much higher priced tequila’s. Which brings us to…
- Best Value Ultra-Premium Tequila: Casa Noble Anejo - At $100 a bottle, I really have trouble mentioning on it a website that tries to extoll the virtue of being frugal. On the other hand, my friend points out that this is better than some $300 bottles of tequila such as the best Gran Patron. In that context, I supposed you are saving yourself $200. Ugh, I can’t even convince myself, so I might as well give up.
Bourbon, Scotch, Whiskey?
I’m not a big drinker of any of the above. I’ve had Knob Creek and Maker’s Mark - those aren’t bad. If forced to choose, I would probably go with Crown Royal. Other than those brands, I don’t have a lot to add. You can help me out with value drinks in these categories by commenting below.
Rounding Out Your Bar
You can’t just get buy with a few liquors and call it a day. Here’s a brief summary of other things that you might consider when you stock your bar.
- Other Liquors - there are few other liquors that you’d want to add to round out your bar. I’d personally grab amaretto, triple sec, schnapps, Irish creme liqueur, coffee liquor (like Kahlua). Most of these you can buy in brand name or generic - not a lot of choice after that. When it comes to amaretto, I think you have to decide if your budget can fit Disaronno. If you are one for Disaronno on the rocks, it’s probably a wise investment. If you are going to mix it, I’d save my money and go generic.
- Champagne / Sparking Wine: Prosecco - This lesser known alcohol is made differently than champagne and is often a good quality for much less.
- Wine - save money on wine to stretch your wine dollar the furthest. Look cool and impress your friends with this electric wine opener
- Beer - save money on beer is to make it yourself.
- Mixers - Don’t forget the mixers. These are cheap parts that make up a quality bar. Grenadine, lime juice, tonic water, and club soda, are all good choices. You should also have orange juice, cranberry juice, and some soda around the home.
What are your hidden gems? Let me know in the comments below…
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Posted by Lazy Man on January 5, 2009 in
Spending
I’m looking to get tickets to the reunion of one of my favorite shows… MTV’s The State at San Francisco’s Sketchfest. This is the first reunion in 12 years for the comedy group. The bad news is that I found out about it after the tickets were already sold out. I’ve been keeping an eye on Craigslist (very popular in San Francisco) as well as Twitter for possible tickets. I’m starting to use their Facebook, but I think everyone is going to be there.
If anyone can connect me with two tickets for $150 (total), I’ll send them a $30 Ebay Gift Card or Amazon Gift Card (receiver’s choice).
Some other thoughts that I have this week:
- Adopting a Dog is Difficult - My wife and I are looking into adopting a dog. We thought we’d go to the animal shelter for an hour on Saturday and learn how it works. It turned out to be a 5 hour round trip, including a two-hour wait to see a counselor. I understand that they want to match up dogs with the right people, but the process is more invasive than applying for a job. Considering that there are about 20 animal shelters around me, I’m not sure we are going to have the energy to work with more than one of them.
- Fage Greek Yogurt - We picked up some of this yogurt at Costco at a price of $7 for 32 ounces. At that price, you’d expect it to be good. It’s better than good, it’s tremendous. It’s almost like sour cream, but with no fat and 20 grams of protein per 8oz. The problem that I have is that at a $1.75 a serving it’s fairly expensive. We’ve looked at how to make our own Greek yogurt, but it’s not as good nor does it have 20 grams of protein per serving. If anyone has a place to pick up Fage (or similar brand) Greek Yogurt cheaply, let me know. We are going to give Trader Joe’s a shot to see if they have a good price.
- Let’s Make a Deal - One of my guilty pleasures is catching the old-school Let’s Make a Deal on weekends on Game Show Network. I’m probably just weird, but seeing people win Oldsmobiles and kitchen appliances that would be considered extremely ugly today is entertaining. The costumes are nice touch as well.
Onto the Links…
Money Writers:
More Financial Posts:
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Posted by Lazy Man on January 4, 2009 in
Links
If I had to take a rough guess, I’d say there are over 250 active personal finance bloggers. I’d define “active” as writing somewhere around 150 articles a year. Some quick math tells me that’s nearly 40,000 articles. Even if I wasn’t Lazy, reading 40,000 articles can really be a chore. How do you trim it down to a more manageable size? One way is to just do what you are doing now, ready this website. Oh wait, you wanted to read good personal finance posts. Well I can help with that too.
Money Smart Life and Green Panda’s Treehouse asked many personal finance bloggers to submit their best posts of 2008. The results were quite different. Green Panda’s 2008 Best Personal Finance compilation is nicely categorized so you can dig into the specific area you are interested in. Money Smart Life’s Best Money Post of the Year compilation isn’t categorized, but has a little information from the author why it’s noteworthy.
There’s some good nuggets of information hiding in there. Please feel free to share the “best of the best” that you come across in the comments.
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Posted by Lazy Man on January 2, 2009 in
Links
While most blogs are probably planning their New Year’s Resolutions, I’m taking action. I just voted to support Uncrunch America campaign in Change.org’s Solving the Credit Crisis From the Bottom Up. That’s quite a mouthful (or is it ten-fingersful since I’m typing?). Allow me to explain a bit.
Obtaining credit is getting more and more difficult in this country. For so long, it was really easy to get credit - too easy. We found that out all too well with the sub-prime mess. In an attempt to right the wrongs, lenders have over-corrected… they are requiring pristine credit scores to lend. “Once bitten, twice shy” isn’t just a Great White song to them. Uncrunch America has a plan to solve that.
Uncrunch America is looking to get people to lend to other people. If you think this sounds like peer-to-peer lending, you are right, Lending Club is one of Uncrunch America’s partners. It’s not just Lending Club though. Supporters also include Credit Karma (of which I should note has a great credit blog) and popular online budgeting tool, Geezeo - two companies that I’ve talked with extensively in the past. Throw in On Deck Capital lending to small businesses and a public relations firm and you’ve got an organization with some clout.
However, some clout isn’t always enough. This is where Change.org comes in. This nonpartisan group is simply trying to create a platform where the people can vote on ideas of change. The Top 10 ideas will be presented to Barach Obama on Inauguration Day, January 20, 2009. After that Change.org supports an organization (in this it would probably be Uncrunch America) in getting the idea implemented. The details of all this are a little fuzzy to me, but you can read the FAQ here.
So if you think that this idea for helping make credit available should get Barack Obama’s attention, please vote for Solving the Credit Crisis From the Bottom up at Change.org. I would stress that this is the last day for round one (I just heard about the campaign myself), so you may have to put down your champagne for a minute or two. However, it’s close to reaching round two, and if it does votes there will be appreciated as well. Sadly, you do have register for the site, but the sign-up form is 4 input boxes and took me about 45 seconds of my time. I figure it’s the least I can do to give the idea a shot.
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Posted by Lazy Man on December 31, 2008 in
Credit, P2P Lending
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