I was looking up something on youtubeFor about $350 US from Amazon you can buy your own drone with camera and operate it by your phone. You can even play augmented reality games with. Just like being in the US military.. woooooh. This is scary.
I have been of the opinion for about 3 years that the troubles with the financial economy are terminal and none of the bailout nonsense is going to do anything apart from make it worse. I expect people in the UK and US to see there savings and investments being wiped out (after devaluation and collapse of the euro). Currently Australia is looking pretty good compared to elswhere however if (when) the banks fail I would expect that to cause either a bailout (therefore currency devaluation) or bank faliure here too.
A friend of mine from my finance club sent me the video below – its dynamite. When the BBC interviewed this bond trader they got what they didn’t expect!
Also on the subject of the ecionomy theres a new video by juice media out
If you want to know more about things finanical then you can find alot of stuff on The real Truth about money
Shadow stats is also a great place to dig into economic data if your interested
The crash course video course is also an excellent film that explains the basics of all things economic
Lifestyle business Lie
Recommended Media Stanford University Entrepreneurship Podcast Small Biz Pod Podcasts Five Minutes with Jack Podcasts Startups for the rest of us Podcast Lifestyle Business Podcast Automate my small business Podcast Smart Passive Income Blog / Podcasts
Recommended Books Lifestyle Business Podcast Crush it - Gary Vaynerchuck Various books by Seth Godin Four Hour Work Week
Recommended Applications O-desk - Outsourcing website 99designs Setup Design Competitions CoHuman - Team collaboration Mailchimp - Free email marketing Capsule - Free CRM pixlr - Free online photoshop Capsule - Free CRM
There are alot of people right now that want to leave thier job and start a “lifestyle business”. The term “Lifestyle Business” was first coined in the book The 4 hour work week. Tim Ferris is very smart and I read the book a few years ago and found it inspirational.
There is alot of useful stuff in there about how to be ultra efficient and get what you want from life. However some people get the idea that it is possible through being clever to build successful a business with little effort. There is alot of hype on the internet that supports this view (mainly from people selling ebooks and training courses on how to get rich on the internet).
Even Tim Ferris didn’t manage to build his first lifestyle business from scratch. He had a business where he spent 70- hours a week building up prior travelling the world and transforming the business into a “lifestyle business”. I have not heard from one credible entrepreneur that really is doing well that hasn’t had to put in alot of work in the startup phase (see recommended media above).
Pat from the excellent smart passive income blog is a good example of someone living that “lifestyle business” but even he admits in his most recent podcast that it took time and effort to setup things to where he is today.
So I guess the message in this post is if you want to build anything thats worth anything it will take time and effort (probably alot more than you expect). Hopefully you enjoy the ride but if you not prepared to put in the work you may as well give up and watch TV instead.
Information product Workshop
I facilitated a workshop at the Internet Marketing Business meetup events at St Kilda yesterday. I had no business cards and there were some pretty cluey people at the events so I pointed people this way If anyone was there and wants to catchup to discuss ideas etc contact me via contact page and we could maybe do lunch in the CBD or meet after work sometime.
All ideas that were thought up during the workshop are public domain and people are willing to give them a go if they want. I think I may have a go at one of them.
If anyones interested I did the slide pack in google presentation at it can be found below
Below are the ideas that came out of the workshop
Last week I went to watch Red Dog which is a lovely movie about a dog in WA in Mining country. I’d recommend it. It made me want to go out and see some mining in WA. Mining is questionably what is driving the AU economy’s boom at the moment. And although most mining companies are small about 1/4 of all the companies in the Australian stock exchange are in mining related. Australia pulls alot of stuff from the ground and is the worlds largest exporter of coal.
- Iron ore – Australia was the world’s third largest supplier in 2008 after China and Brazil, supplying 342 million metric tonnes.
- Nickel – Australia was the world’s second largest producer in 2006 after Russia.
- Gold – Australia is the second largest producer after China.
- Uranium – Australia is responsible for 16% of the world’s production and was the world’s third largest supplier in 2009 after Kazakhstan and Canada.
- Diamond – Australia has the third largest commercially-viable deposits after Russia and Botswana. Australia also boasts the richest diamantiferous pipe with production reaching peak levels of 42 metric tons (41 LT/46 ST) per year in the 1990s.
- Opal – Australia is the world’s largest producer of opal, being responsible for 95% of production.
- Zinc – Australia was second only to China in zinc production in 2008, producing just under 14% of world production.
- Coal – Australia is the world’s largest exporter of coal and fourth largest producer of coal behind China, USA and India.
- Oil shale
- Petroleum – Australia is the twenty-eighth largest producer of petroleum.
- Natural gas
- rare earths
But there is some dangers dangers in the big mines. Its pretty interesting