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Dream Big.
Set realistic and specific short-term and long-term goals. Invest
in knowledge. Take Action. Stay Focused. Finish what you start.
Wash… rinse…repeat.
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Michael
Filsaime
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Brought
to you in partnership with Rod Beckwith - http://mrjv.com
Highest Education: Two-year college
Year Started Business: 2003
Type Of Business: Internet marketing
Target Market: "I market to affiliate marketers and Website
owners looking to get traffic to their websites and affiliate programs."
Number Of Employees: Seven
Best Month (Gross Revenues): $115,000
Hours Worked Per Week During Startup: 60
Hours Worded Per Week Now: 40
Favorite Business Magazines: Inc. and Fortune
Favorite Business Books Or Authors:
- Rich Dad, Poor Dad, by Robert Kiosaki - "It opened up
my mind and helped me to understand leverage and not thinking in a linear
fashion."
- The 7 Habits of Highly Effective People, by Stephen R. Covey
- "This was one of the first books I read when I started my business
and it help me to frame my work ethics."
- Influence: The Psychology of Persuasion, by Robert Cialdini
- "This book is a must read for any person in direct marketing."
Relaxes By: Sleeping, surfing the Web, and driving
Keeps In Shape By: Playing racquetball and martial arts
Favorite Part Of The Job: "Launching a product. There is
nothing like the launch day of a new product. It is the fruition of all
your hard work. It’s not about the money, rather the rush you get
seeing it all come together. Without a doubt, those are my most exciting
days."
Least Favorite Part Of The Job: "E-mail. It seems to slow
me down very much. Like being in the ocean, it is like treading water
and it is needed to survive. But I prefer to swim forward, and it is hard
to do that when I am locked on my inbox for one to two hours per day."
Companies Admired:
- EBay and PayPal. – "Here is a company that has taken the
word 'auction' and branded it to their own name, and they found a way
to bring the world together in a way I do not seeing being knocked off
for a long, long time."
- Microsoft – "Despite what many people think about them,
I still think they are pioneers in this game and a great case study
from their beginning 30 years ago and what they will continue to do."
- Toyota Motor Co. – "They seem to never make mistakes and
have an understanding of the American and global needs of drivers that
is years ahead of the other auto makers, and it shows in their success."
Favorite Quotes:
- Luck is what happens when preparation meets opportunity. –
Seneca (Roman philosopher, 1st Century AD)
- Everything should be made as simple as possible, but not one bit
simpler. – Albert Einstein
- An investment in knowledge always pays the best interest. –
Benjamin Franklin
The Person Who Most Influenced His Life: "My Father. From
the day I was born, my father always told me that there was nothing I
could not do if I only applied myself. He never poisoned my mind with
negative thoughts and would wake me up when he got home from work (at
11PM) when I was a kid and talk to me about business and understanding
how people think. Over the years, I look back and realize how much I learned
from him that I could never get in school. My dad is a true intellect
and one of the most charming people most folks ever get the chance to
meet. Even today, he is one of the people that helps me to open my mind
to think bigger. I love him very much."
Heroes: "My dad is my real hero. See above. Also, my grandfather.
If he is half the man my father tells me, they could make a movie about
his life. I did not know him well—he died when I was young—but
the stories my father told me about him has inspired me to always do the
right thing."
Special Business Achievements/Honors: "Before I started my
online business, I ran the fourth largest Hyundai dealership in the U.S.
and was also a manager for the ninth largest Toyota dealer in the U.S.
We were part of the second largest privately held auto group in the country,
and we understood that a process was key to our success. Everything had
a process, and we implemented a management-driven system that made it
impossible for anyone to compete in our region. We focused on value and
customer satisfaction/loyalty. We also had an incredible training program
and regimen. For over nine months, I was fully responsible for the training
of the entire sales staff for all 13 of our top stores."
Months Before Achieving A Profit: "I was in the red for about
5 months, as I was paying for a lot of information so that I could accelerate
my learning curve. Then in month six I made my first $5,000 and never
looked back."
Books/Tapes/Reports Authored: "I have several and the best
way to get them is to go to http://mikefilsaime.com/mysites.htm."
Contact Mike At: (631) 868-0247 or mmikefilsaime@gmail.com
GETTING STARTED TIPS:
I'm starting a home business next month. I
have a maximum of $3,000 in start-up capital. Where should I invest it?
I would recommend starting online for its low cost. I would go to www.marketingtips.com
and buy a course for $197 to $297 on marketing online, and then start
to create an online business. I would also suggest spending about $997
on a course by John Reese called Traffic Secrets at www.TrafficSecrets.com.
The rest of the money should be used for advertising strategies as outlined
in the courses.
I've just started a home business. My spouse
has given me six months to make it work. Any advice?
First see above. Then understand that you should never buy a product that
you do not need at that point in time. It will only distract you. Once
you put your business plan into motion, only buy products that you need
when you cannot go further in your business without them. This will help
you to stay focused. Set your goals for your completion dates of your
projects and take the next step and keep moving. Always focus on building
a list of people who come to your sites and leverage that to promote and
cross sell other products.
They say it takes money to make money. Should
I try to get a small business loan for my startup capital or just try
to get by with my own limited finances?
I recommend a book called Credit Millionaire at mikefilsaime.com/Recommends/Credit-Millionaire.
This book will help you to understand why it is always good to understand
the power of leveraging money from what you can borrow. In summary, YES.
Borrow what is needed to help you achieve your goals only after you have
set out a game plan. If you do not need to borrow money to do so, then
of course it is not needed. Again, I recommend reading that book to understand
how do it and limit any exposure and come out winning in the end.
TECHNOLOGY & TOOLS:
How quickly do you adopt new technology for
your business?
As soon as I learn about it. If it can help my business in the short and
long term, it gets implemented as soon as we can.
Do you use a fax machine with a dedicated
line?
Yes. I have a dedicated line for my fax and it is not an efax. It is always
on so I can get faxes on demand.
How do you use e-mail in your business?
Only for personal use. I would recommend anyone have five to six e-mail
accounts. As Stephen R. Covey says, Begin with the end in mind. Make sure
you set your business up now with the right structure so when it becomes
a real business, it does not become a "JOB." So make sure your
infrastructure support is ready for when you make $1 million per year.
Make sure your have e-mail accounts for:
- Billing, product purchases paid subscriptions (aka... billing@mydomain.com)
- Good Newsletters (Newsletter@mydomain.com)
- Affiliate Programs (Aff@yourdomain.com)
- Personal and JV (bus@yourdomain.com)
- Junk Squeeze Pages (pass@yourdomain.com)
- Non Business (yournameonly@yourdoamin.com)
If you use one e-mail for all, you will start to hate life and there
is NO TURNING BACK! Use outlook to sort these to folders. For support,
use a help desk. You can get a great one at www.Perldesk.com.
How do you utilize the Internet?
I use the Internet to monetize and run virtually every aspect of my business
and say in touch with my prospects and customers. I also think it is the
best place to do market research and get information. It is also the best
way to test marketing ideas almost instantly with the help of Google Adwords.
How many of your own Websites do you have?
I have over 25 profitable Websites and over 100 domain names for future
products and hidden niches. I use my Websites to build my e-mail list
and sell my products and services. I also use a blog to share information
and build relationships with my visitors and subscribers.
Do you use autoresponders?
Yes, I use Prosender.com. It is my own private label of the Internet’s
best service called Aweber. I take the opportunity to capture a name and
e-mail address from every visitor who comes across any one of my Websites.
I then maintain a relationship with them through a newsletter. For many
of my sites, I have prewritten e-mails that go out in sequence to cross
sell and further build relationships.
If you use a toll-free number, what is its
primary use?
Right now I use it just for testimonials. Soon I will be adding one for
another taking orders and customer support.
If you use voicemail, what is your primary
use for it?
Right now it is just for my JV partners to reach me and to direct my customers
to my online help desk.
Describe your computer system and how you
use computers in your business.
I have five dedicated servers at KIOSK.WS to run my sites. I use three
laptops, so I can go anywhere and have access to the Internet. I have
a Verizon account that has national wireless broadband, so I can get access
on the beach or any place I travel. I use every form of media from fax,
scanner, digital cameras, digital video, laser printers, color ink jet
printers, Webcams, headsets for my PC, and a phone. I have PC conference
tools for my members to meet, I have teleconference lines, and Yahoo Instant
Messenger. I use AOL as well for my personal account.
What software do you consider in the "must-have"
category?
For me I need MS Frontpage, Google Gmail, IpSwitch FTP Software, audiogenerator.com,
Internet Explorer, MS Outlook, Camtasia Onscreen Video, ScreenPrint V3.2,
MS Office, PowerPoint, and RoboForm.com.
What other technology do you use in your business?
I use AITelephone.com to do my conference calls. I find them to be very
affordable and a big part of my business.
Name up to five personal favorite business
URL's our readers can benefit from:
Of all the technology you use, rank the top
three.
- Broadband access and Verizon National Broadband Access. It is crucial
to my online business to have high speed access anywhere I travel in
the U.S.
- Dedicated Severs – It allows me to grow my business at my own
speed, and it also allows me to maintain a great relationship with my
Web host.
- Paypal.com – I think they are one of the easiest ways to get
in business online and start taking orders. My business would not be
the same without them.
MARKETING/ADVERTISING:
How do you market on the Internet?
I use mostly viral marketing strategies to get visitors to my sites. My
main call to action is an opt in for name and e-mail, and I offer products
usually only after I obtain that.
Approximately what percentage of your sales
originate from Internet marketing?
About 95%.
How do you market via broadcast advertising?
I use Voiceshot.com
to send phone broadcasts. It is a great company and you can get all the
details at their site. I also do e-mail broadcasts thru Prosender.com.
Approximately what percentage of your sales
originate from broadcast advertising?
Phone – 3%.
e-mail – 50%.
What other kinds of marketing do you utilize?
Google Adwords pay-per-click.
Do you recommend using a toll-free number
in advertising?
Yes. With anything, I think you need to test but I think toll-free numbers
have proven to be very successful in two-step direct marketing.
Where do you market?
Nationally and internationally.
THE HOME OFFICE:
How should someone set up his/her home office
to maximize its effectiveness?
With a PC and laptop with all the peripherals I stated above. It should
be set up in a comfortable work place with no distractions, such as a
spare bedroom or office in the basement. It should be a relaxing place
to be and have everything you need all in one place.
What, if any, ground rules have you established
for yourself and family in order to operate a successful home business?
Have fun and make it easy as possible and profitable. Sacrifice profits
for automation and lifestyle when possible.
What are some of the advantages to working
at home? What are some of the disadvantages?
I worked at home for one year and then I just got a new office six miles
from home. It is great to be home and I would never have left. But I just
outgrew my office and needed to expand to become more organized. I set
up my office just like it would be at home. I have a TV, VCD/DVD, Stereo
with CD, refrigerator, microwave, coffee maker, fax and phone, a couch
and coffee table. I want it to be a place I love to be at so I can have
fun while I work. I think the real advantage is working for yourself.
You can do what you want, when you want.
MANAGEMENT STYLE:
What part(s) of your work do you farm out?
Support, programming, site design.
What part(s) do you feel should never be farmed
out?
I think you should farm out ANYTHING that is not your strong point. Focus
on what you do best and outsource the rest to better quality and affordable
people. I consider myself the project manager. I outsource as much as
possible so I can move faster.
Do you encourage or discourage partnerships?
I discourage partnerships in business. I have had a few and they slow
me down and infringe on my creativity. I think you should integrate your
marketing and have joint venture partners, but I feel you should maintain
control of your business whenever possible.
Do you encourage or discourage hiring family
members?
Neither. As long as the person is the right person for the job, I think
it can work out.
When legal issues arise, what’s your
usual response?
I turn it over to my attorney instantly. She is on retainer, and I make
sure I get the best advice as soon as possible.
MONEY & INVESTING:
What are the advantages of earning a lot of
money. What are some disadvantages?
The advantages are obvious: financial freedom and independence. The best
part about having money is you no longer worry about money. The rest of
life seems to stay the same. But not worrying about money takes a lot
of stress out of life and relationships. The worst part—there is
none as long as you make sure to understand how to protect your money
and not get into tax problems.
Best general tax advice?
Get a good accountant that understands your business. Talk to other successful
people in your niche or filed and find out who they use and if they recommend
them and why.
Best general investment advice?
Invest 10% of your profits each month. Get a financial planner to find
out what is best for you based on your age and risk factors and what you
ultimately want. Real estate is one of the best places if done right.
You're in business already, and you've just
received a windfall of $20,000. What would you do with it?
Blow it on a new BMW...just kidding. The answer is different for everyone.
If would invest it either in my business if needed or in my personal investments.
Maybe buy something special for people I care about. Donate some of it
to my favorite charity also makes me feel good.
THE ROAD AHEAD:
In five years I'll be...
Doing what I love to do, whatever that is at that time. For now, I see
myself enjoying life and having someone else run my business for me. I
want to travel the world. I will to still be a big part of my business,
and I hope it to see it grow to a multi-million dollar business I can
take public.
In 10 years I'll be...
Retired and consulting while I travel.
POWERFUL IDEAS:
What was the motivating factor that drove
you to start your own business?
I started it for fun and challenge for a better life. When my boss found
out, I was forced to make a choice. I chose my business and never looked
back.
How role, if any, did your family play when
you were getting your business off the ground?
They were all very supportive. They were a bit nervous, and so was I,
but they backed me 100%.
What motivates you now to continue building
your business?
I think it is human nature to always strive to be better than the previous
day. I like to meet people, and it inspires me to keep creating new projects.
What’s the best thing about being self-employed?
The travel. I have been all over the world since I started my own business.
I enjoy the freedom. I also enjoy doing whatever I want to do whenever
I want. It is a great way to reward yourself.
How often do you read books and/or listen
to or watch tapes for improving your business skills or knowledge?
Daily. I was never like that until I started my business. I now have become
an information junkie, and I enjoy learning and implementing successful
strategies from other successful people.
The most underrated activity in business is…
Relationships (not joint ventures) with other successful people.
The most overrated activity in business is…
Joint venture strategies.
What was the biggest obstacle you had to face
when you were launching your own business? What’s your biggest obstacle
now?
Working two jobs. It was hard to work and manage the auto dealership and
grow my business at the same time. Now, it is finding time to manage everything
I try to do. So I just keep it all in perspective and realize; tomorrow
is another day.
If you had to start your business all over
again, what would you do differently?
I would not have used a server-based e-mail software. I would have gone
to a third party, and I would have used Aweber.com or Prosender.com from
the beginning.
What was your worst business decision?
Trying to develop seven sites at one time. Six never got done, and it
cost me thousands. It is better to focus on priorities and move one step
at a time. I was not ready to manage that at the time and I could not
get quality people to help me to finish. I thought I could do it in spite
of all that.
What was your best business decision?
I paid $80,000 for a Website when everyone I spoke to told me I was crazy.
I paid it off with its own profits in five months, and I make my investment
back in net profits every four months just from that site.
What do you consider to be the main keys
of your success?
Passion, fearless goal setting, and taking action. You have to love what
you do and cannot be afraid to chase your dreams.
What's your success philosophy?
Study the successful people and do what they do.
What about you has changed the most since
finding success in business?
I have less stress in my life and I sleep and eat better. I am more giving
that I ever dreamed I could be, and I take the time to enjoy the small
things in life that I never knew existed, such as riding a bike near the
beach with a good friend.
What is the legacy you hope to leave?
I just want to have something to pass on to my children. I want to leave
them with what my father has tried to do teach me—you can do anything
you want if you put your mind to it. But you have to really want it and
be able to sacrifice what is needed to get there...a little bit of work.
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