14.1%

Wow, the last few weeks have been awesome and crazy.  The launch of the new company is going WELL above my initial expectations.  We are extremely busy with good work.  For this I am thankful, but it has made it extremely difficult for me to find time to post here at TAM.  You all know my girls are my number one priority, so they have been getting any free time that I can muster.

This quick post is important as Michigan released unemployment data and we hit a staggering 14.1% unemployment rate here in this once great state of opportunity.  This is sad and sobering.  Basically 15 out of every 100 people that I know in Michigan are unable to find work. 

The situation here in Michigan is simply out of control.  Big government and a burdensome tax system here in the Great Lakes state has left our economy decimated.  We seem to tax EVERYTHING…even in hard times.  There is hardly an incentive to innovate here anymore.  The emails that I’m receiving from you readers who are looking to start business show a common theme.  Most would be entrepreneurs are held up by fear of the tax system, or not understanding the legal issues of owning a business.  THESE THINGS SHOULD BE CLEAR AND EASY, THIS WOULD PROMOTE INNOVATION AND RISK TAKING MORE THAN ANYTHING!  Couple that with some strategic, easy to access investment dollars for GREAT business plans…and we could turn this thing around. 

I’m praying for my state, but the sad fact is that Jesus did not come to save us from bad business decisions.  We must deal with those here and now!

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Friends, I’ve been away quite a while and miss hearing from everyone.  I’ve been launching a new company over the past month or so, and life has been CRAZY busy.  I’ve been working later than normal, and have been having trouble sticking to my 5:30 AM blogging routine. 

Anyways, I think it is important to open up a discussion with all you smart folks about HOW AND WHY the US stock market has been on suck a tear over the past couple of months.  If you made some good decisions 3 or 4 months ago, your investments are probably up 50% or more!

IF you believe that the US stock market is a “leading indicator” for the US economy, this run in the market would lead you to the conclusion that we are heading out of “The Great Recession” post haste…THE TROUBLE I have with this theory is that our home values are still falling, so the US consumer is feeling a negative “wealth effect”…also stunting our growth is the fundamental shift from consumption to savings.  I believe that most sensible people are going to save more and keep real tabs on their spending habits. 

I also fear that mutual fund managers have been chasing returns, and this is artificially pushing up stock prices ahead of the actual earnings growth of these companies.  (I hope I’m wrong though and that good companies were just SOOOO oversold that we are getting back to fair value)

All this to be said, I’m loving the run up in stock market values, but I’m worried that the market is getting ahead of its self and banking on a sharp uptick in the overall US economies growth and consumer spending. 

Do you guys really think that is going to be the case, or are we looking at a major pullback soon?  Will $3.00 gas pull us back down?  As always, any and all feedback and ideas are appreciated.  There is SO much knowledge left in the comments of this blog!

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My work involves meeting all kinds of people who are at various stages of their business career. 

Many conversations lately have seemed to be more coaching than consultation based. 

I’m seeing a lot of fear in Michigan.  The worst part of fear is that 98% of it is just simply not real.  It is a bunch of crap that is floating around your head because of something your mother told you 10 years ago, or your lawyer told you last week, or whatever. 

There are MILLIONS of reasons to not try something new…just ask any lawyer!  I wonder how many great business ideas have been squashed by lawyers?  I would bet the number is staggering!  To talk to a lawyer, it is ALMOST IMPOSSIBLE to get ANYTHING done as thoroughly as it SHOULD BE DONE!  No one should every try ANYTHING NEW…THERE IS JUST TOO MUCH LIABILITY IN EVERYTHING! 

This would make business impossible, wouldn’t it!

BUT,we all know that great ideas to sproat into successful businesses.  Risk is real, no doubt…but it is often rewarded richly here in the real world. 

So I tip my hat to all of you out there who are blazing your own trail, in spite of the fear and negative talk!  Remember why you pay a lawyer, for advice on the law…not to tell you about all the millions of things that can (and will) go wrong in every business deal.  Move forward, and work hard.  You can deal with the inevitable when the inevitable shows up at your doorstep.  If you try to deal with EVERY POSSIBLE future scenario here in the present, you will NEVER get anything done, and your goals and dreams will die with the “negative possibilities” you are trying to avoid. 

Be street smart and stick with your gut!  This has never let me down!

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I was at a board meeting yesterday for my University’s Center for Entrepreneurship.  We discussed at length the real possibility that Michigan is going to see 17% or more unemployment rate over the next 12 months. 

The thought is that there are going to literally be hundreds of thousands of people looking for work, OR HAVING TO FIGURE OUT HOW TO MAKE A LIVING FOR THEMSELVES! 

i BELIEVE STRONGLY that most people have it inside themselves to operate a successful small business.  What they need is for someone to guide them through the aspects of business ownership that seem tough or mysterious…for example; setting up an LLC, getting a tax id number, state and local taxes, employment practices, obtaining a loan, etc. 

For the past 10 years I’ve been going through the business start-up process over and over again, and with much success.  I could probably get something going in my sleep.  That being said, I’m putting it out there that for all you “Almost Millionaires” who are looking to get a business started, I’m here to help! 

If you have a specific question about starting a business in Michigan, or anywhere in the US for that matter, send me an email thealmostmillionaire@gmail.com with your question.  I’ll do my best to answer it in a post, or we can dialog via e-mail.  I’m hoping I can offer some free advice (becuase it is always worth what you pay for it) that will make a difference if someones life!  And I’m hoping to fuel the entrepreneurial spirit that is waiting to be unleashed here in Michigan!

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I HATE IT when I suggest a product or service to a friend, and it COMPLETELY bombs for them!  This type of situation just sucks. 

I recently suggest to one of my very best friends that he call Quicken Loans to refinance his Adjustable Rate Mortgage to take advantage of today’s great deals on 30 year fixed rates…they are under 5%.  I had recently done business with Quicken loans, and had enjoyed a smooth and simple refinance. 

My buddys wife calls the company to find out if they will qualify.  The agent tells her that they will, and then in my buddys’ words…”pressures her to place a $750 “refundable” security deposit to cement their business relationship.”  His wife was told that Quicken was confident they could get the loan done for them…but if they couldn’t, their $750 deposit would be refunded in full. 

OF COURSE, Quicken is not able to get the loan done as they had thought…something about the home not appraising at the level they thought it would.  No Big Deal, Right?  Just send us our deposit back and we will try to make other arraignments.  THEY WOULD NOT GIVE THEM THEIR $750 BACK!  My buddy is MAD!  He has made it his personal mission to tell everyone he knows to avoid Quicken Loans like the plague…and I don’t blame him. 

I FEEL BAD about making the suggestion.  My experience was fine.  Maybe I had a better loan officer?  Maybe I met their “perfect customer” profile?  Either way, why are they charging $750 just to get a good faith estimate?  That seems shady, especially if there is ANY chance that you may not get that money back if you get a crappy appraiser for your home. 

Is anyone else out there having trouble with Mortgage Companies?  Let me know your experience, good or bad.  After I suggested QL to my buddy, I found this resource online…sounds like they are upsetting A LOT of customers these days.

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It seems like yesterday that I was reporting March numbers.  I’ve said this to you all before, but SLOW DOWN AND SOAK UP LIFE!  Time just goes by WAY too fast!  I hope all my friends are feeling as good about Spring as I am!  Yesterday I took my two oldest girls fishing.  We caught some bluegills and a perch…cleaned them up and had a mini fish fry.  They loved it!  One of those moments in life you wish didn’t have to end. 

Anyways…April was another decent month for TAM!  Earnings were good, but I also am enjoying some nice, steady traffic (I’m going to share traffic data too!)

Earnings breakdown for April 2009

Adsense: $141.88

CCM Income: $30.00

Hostgator Affiliate Sales: $0.00

Private Sales: $180.00

Kontera Income: $0.00

Total Online Earnings: $351.88

April 2009 Site/Traffic Stats

• 3930 Page Loads
• 1967 Unique Visitors
• 1451 First Time Visitors
• 516 Returning Visitors

Sorry about the bad screen shot, what do ya do! 

Well, traffic was up but income was down a little bit.  I’m still hopeful that blogs can make money, but I’m not convinced that I’m on the right path towards reaching my year end goals of $1000 per month in TAM blog income.  I need to offer some product, service, or information that will truly enhance someones life, in an immediate and measurable way.  That is going to be job #1 going forward.  Easier said than done though, I know!

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-A wise old saying:

“The intelligent man learns from his own experience; the wise man learns from the experience of others.”

I’ve spent the last week rereading this post and rethinking this old adage. It is one that I’ve tried to keep close to my heart as a business guy and entrepreneur. I think that the marginal success that I have enjoyed has been because I have always assumed that I possess intelligence (though my wife may often beg to differ). As I reflect on the good choices that I’ve made, they were most often not attempts to “re-invent” anything. Good stuff for me has happened when I tried hard to follow the wisdom and experience of others. (I don’t seem to be able to do this enough though, God gave me a sense of “do-it-yourselfism” that runs deep and needs to be constantly kept in check).

I guess I continue to look for balance in my life. It seems appropriate for an entrepreneur to have the guts to make things happen, but it also seems important to be able to step back and evaluate opportunities through the lens of wisdom.

The BEST TIME to work hard and lay the foundations for future success is when times are tough.  While everyone else is crying and complaining, I hope we can take the lead from others who have gone before us and seize the opportunity to do great things in life.  Now is the time to charge forward with your passions and take a risk.  DO YOUR HOMEWORK…THEN TRY SOMETHING NEW, DO SOMETHING BIG! 

YOU WILL NEVER REGRET IT!

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So I turn on the local news station tonight, and the first this I hear is something like this…”Jackson, MI makes it to #1 on Forbes list…but it is not for something they want to be recognized for.”

Jackson, MI is the hometown that I LOVE!  It was a hit to hear that Forbes.com has ranked my town as the #1 worst small city in the U.S. for Job Opportunities.  The following is from the wilx.com Fox News web site…

“It’s all subjective information,” says Jackson city councilman Dan Greer of the Forbes.com report.Yes, unemployment in Jackson is at 13.4 percent, but Greer says Jackson is adding jobs, from Brownfield projects to Smartzone facilities.

Many of you may be wondering why the heck I’m laying down roots and opening new businesses here in Jackson, MI?  Good question for sure!  I CHOOSE TO SNUB MY NOSE AT REPORTS LIKE THIS!  Jackson is a great city filled with hardworking and dedicated people.  My thought is that if we are laking job opportunities, we need to dig deep into the entrepreneurial spirit that built our country in the first place…and start creating OUR OWN NEW OPPORTUNITIES! 

I’m soon launching a private equity and capital services firm here in Jackson.  I’m bullish on Jackson Michigan!  We have got SO much good going for us.  We have a deep history of superior manufacturing and distribution.  With the right focus and smart local leadership, we will be able to parlay these skills to develop, assemble, and ship the technologies of tomorrow!  People will always have wants and needs!  We need to focus on serving those wants and needs, period!  That is what is going to put Jackson, and Michigan in general, back on the economic map! 

I’m making it my personal mission to bring Forbes.com to Jackson, MI in five years.  I want my town to be #1 on the Forbes list of Small American Towns with the Strongest Entrepreneurial Spirit!  Now that would be news worth reporting!

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Much thanks to you all for the great comments and feedback on my Blog Income Report.

I started blogging in Feb. 2008 on a Free Blogger Site with absolutly NO CLUE what I was doing.  As my friend at MoneyEnergy mentioned in one of her comments…it took like 6 months to get my first Adsense Check. 

While I still know very little about making money online, I am now making enough per month to cover a decent little car payment, and my site statistics are heading in the right direction every month.  That being said, I’ve got a couple of tips here that might save you some time if you are just starting out blogging.  If you post often enough, and follow a few good ideas, you should be able to get an adsense check or affiliate check within 2 months or so.

Tip #1 Forget Blogger, and go straight to a Hosted, Wordpress site with a theme that accents your content and is easy to use.  This was, BY FAR, the best thing that I did.  Hosting through HostGator.com is only $10 per month, and it is well worth the investment.  It gives your blog a much more porfessional feel than the basic blogger or wordpress.com package.

Tip #2  Invest in a good domain name!  Search GoDaddy.com for hours if you have to so you can buy a good online brandname to build your blog around.  I personally made a mistake on this one, as I probably could have done alot better than “The Almost Millionaire” as it is kind of long and most people don’t think or care about Almost Millionaires…but it has worked well, and made sense to me at the time.

Tip #3  Spend some time writing 4-7 of your BEST possible articles focused on what type of blog you are trying to develop, personal finance, SEO, marketing, private equity, investments…whatever.  Just focus your efforts on your best stuff within your chosen topic.

Tip #4  Spend about a two weeks finding blogs like yours.  Make meaningful comments to show your interest and support for those blogs.  Invest your time in developing friendships with those bloggers who are receptive to your comments and seem interested in interacting with you.  There are TONS of great bloggers who like to help newbies, but there are a lot of JERKS out there too, who will never support you or give you the time of day.  Focus on the friendly bloggers, and avoid those who show no interest in you…and don’t take it personally, there are just some guys who are so big they don’t have the time in the day to respond to comments and develop relationships.  FYI, a few guys who are great at developing online conversations are Sire from Wassupblog, Mitch from I’m Just Sharing, and Dave at Do You Dave Ramsey.  There are more, I wish I had time to name them all.

Tip #5  Invest your time and money in learning from others who have been successful at making money online and from blogging.  There is literally millions of pieces of good information out there that can help you learn how to do AdSense, or affiliate programs, or networking marketing.  I try to read something new every week as I try to figure out the endless possibilities that the Internet offers.

Tip #6  REPEAT STEPS #3, #4, AND #5 OVER AND OVER AGAIN.  Stick with it!  Worst case scenario, you will have all your thoughts online and organized, so you can easily write your autobiography when you are old, rich, and famous

I apologize to all of you who already know all this stuff, as I realize that most of you know WAY more than me about making money online.  I post this though, because this stuff would have seriously helped me when I started online, and I may not have wasted 6 months posting on blogger for my 3 visitors a day.  My hope is that all of you who read this blog will leave you #1 Tip for New Bloggers in the comments section.  That would be awesome!

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