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Early Retirement

Early Retirement, Lifestyle, Small Business

Perennial Seller, Part 1

Have you ever wondered why Gone with the Wind and The Wizard of Oz continue to thrill audiences nearly a century later while the box office leader three years ago over Christmas weekend can’t be sold by Wal-Mart for less than a dollar from the remainder bin? Why does The Shawshank Redemption still perform well after more than two decades?

Closer to home, why do some personal finance blogs find a massive and growing audience while others languish? Mr. Money Mustache publishes a few times a month and still generates 5 million pageviews or more per month. What characteristics do perennial sellers have? More important, can we replicate their success?

Last week one of my all-time favorite authors, Ryan Holiday, published Perennial Seller: The Art of Making and Marketing Work that Lasts answering the above questions. Holiday has ample experience to draw from in his work with companies such as Google and cultural icons like Tim Ferris.

You can reinvent the wheel or you can learn from the best. Perennial Seller breaks the process of creating long-term success into four parts: The Creative Process, Positioning, Marketing and Platform. We will touch on each of these before we end with a real world example from our personal finance (PF) community.





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How Milking Cows Taught Me to Respect Women

It all went wrong before I ever started. Mrs. Accountant and the junior accountants (I have daughters so I guess they are junettes) carpooled with me to take care of a variety of errands in town. When the family gathers in a confined place the situation turns strange very fast as I start with crazy talk.

For the record I consider myself a bit of a comedian. Not in any professional sense, but I fashion myself as a funny guy. Give me an espresso or two, wait fifteen minutes and watch the fun begin. Once on a roll it is hard to stop the train.

The clan sees me writing a blog so a lot of blog writing is going on around the house. Before long I was coming up with what I considered powerhouse titles to posts when the title of this post popped into my head. Groans echoed around the cabin of the car. I stood my ground. It was funny and I knew it. (It was also clickbait and I knew that too!)

The girls of the household don’t always hold my level of humor in high esteem. It hurts. My feelings are tender. The lack of enthusiasm for my blog title only encouraged me to step up the game a level. I started to flesh out the details of the obvious humor piece. The jokes came fast and furious while I skirted around the implication of the title.

No matter how hard I milked the situation I was cowed. My udderly fantastic jokes fell on deaf ears! How could that be?




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I Preempt Our Regular Programming (Can We Talk?)

Sitting in a darkened room at 2 a.m. searching for words to type seems like an adventure for Don Quixote. Will anyone read the post? Will it matter? All questions, and doubts, every blogger faces daily.

Of course we can take solace in our traffic statistics. Numbers keep stair-stepping higher, salving our fragile egos. But each step higher is followed by a slight reduction in traffic before finding a floor, waiting for the next exposure sending traffic another notch higher creating more doubts.

Then we have revenue streams. Young blogs building traffic to acceptable levels see modest income. The heart flutters with delight when a batch of good news arrives. People are “buying” into my ideas. Readers become fans and start their Amazon shopping from the blog and consider affiliates listed or shared as part of a post. A surprise upswing causes the heart to sink when the follow-through is weak.

The comments offer consolation.  Each comment reminds me a reader is engaged. Of all the things a reader can do to remind the blogger he is not alone in the darkened room at 2 a.m. is to comment. The message at least got through far enough to encourage an intelligent response.




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Change Nothing

Imagine you had a time machine. You could go back in time and change anything you wanted. A past mistake could be erased, a missed opportunity taken, a relationship saved. If I had such a time machine I would change nothing. I would leave everything exactly as it happened, including all the regrets.

A popular attitude suggests many people would go back in time and kill Adolf Hitler before he committed his crimes against humanity. I wouldn’t. I would let the approximately 60 million people died; I would allow the gas chambers to continue.

Why would I pass a chance to save all those people? Am I really that cold? No, I am not that cold, but I do know everything happens for a reason. If Hitler didn’t do what he did more than a billion people could have died and the human race sent back to the Stone Age.

Imagine a time machine existed allowing anyone to go back and kill Hitler before the nightmare began. Imagine someone bumped off little Adolf when he was a wee tyke. How would human history have evolved differently.

Well, for one, scientists would not have been motivated to split the atom quite so soon. But make no mistake, scientists were getting close to discovering the mystery of splitting the atom. The atomic bomb wasn’t concocted out of thin air when the desire for a big BOOM was needed. No, human knowledge was getting close.

Without Hitler, Germany might have kept her scientists. Germany might have invented the bomb in the 1950s or 1960s without the impetus of war. The United States and other nations would have soon followed.




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How Actively Managed Funds Legally Lie about Performance

Past performance is no guarantee of future performance.

I’m going to start an investment company. Actually, I’m going to start a whole bunch of’em. Anyone interested in throwing in with the Wealthy Accountant? Read on if you think I am a good investment risk.

As an accountant I don’t want to leave anything to chance. People invest in firms with proven track records that exceed the norms. Therefore, my investment company will start several investments with only my money at risk. Several different strategies will be used to see which ones outperform. Underperformers will be closed without any investor money put at risk.

Before you start shedding tears for me, know I only invested a token amount into each fund. My loses were small and so were the gains. I just needed to know which ideas worked best.

Only the winners will be offered to the public. That means you, kind reader. Only the finest for those reading my blog.

Once the deadbeats are eliminated I can provide paperwork showing the wonderful returns on the winning investments. In fact, every investor from now on will see investments returns that include the numbers when the investment was really small and unavailable to the public.

Since the early, and unavailable to you, outperformance carries the same weight as the future returns when the fund is larger, the investment might have lost money overall and still claim a positive long-term return to investors. In other words, results are not weighted.

Oh, but the Wealthy Accountant knows future returns eventually catch up to a guy. So, I will close funds that take’er on the chin. Nobody wants to see that kind of thing in this investment company. Only survivors get to live on around here. For the laggards: OFF WITH THEIR HEADS!




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Why You Need to Go to the Office

Many accountants will not work with doctors. Doctors as a group can be difficult in the best of times, demanding an instant response to their every whim. I disagree completely.

My firm has serviced accounts for doctors nearly from day one. The value doctors provide society is vital and I have always felt they deserve extra latitude. The stress level doctors face daily supersedes anything I deal with. If I make a mistake, money is at risk; when a doctor makes a decision, lives are at risk.

My personality meshed well with the mindset doctors have. As a result, I have been a value added service to my doctor clients. Many hair-raising situations were resolved successfully because I understood the doctor’s situation and was able to integrate their issue into the problem solving formulas of my firm. It also allowed my doctor clients to get very rich.





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You, Inc.

Whether you like it or not You are a brand. Everything you say and do either adds or subtracts from your brand. Ignore You and your brand starts to turn stale.

You, Inc. is your brand. It will take you wherever you want to go. But do you know what You, Inc. is all about?

It is simple to see You, Inc. in action when compared to a business. Take this blog for example. I can speak at conferences or just attend to build contacts. Guest blogging brings more visibility to my work. Or I can spend money to promote my brand. How I act and interact with people around me reflect on my brand. Treat the brand well and it will take good care of me; ignore it or treat it badly and the brand will kamikaze faster than you can snap your fingers.

Building You, Inc. takes time and effort; destroying You, Inc. can happen fast. Your income and net worth are directly related to the brand of You, Inc.  Arming yourself with knowledge is the surest way to supercharge your brand. But knowledge is not enough. Knowledge without action is worthless. Creating a large net worth in a relatively short time is possible. Increasing income to retire debt and grow investments is the only road to financial independence.




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Recommended Reading

Call it a weakness.

You can’t sit down with Bill Gates for more than 10 minutes before he starts telling you about a recent book he read. If you’re not lucky enough to chew the fat with Bill you can get an update on his reading recommendations anytime you want on his blog: Gates Notes.

Ryan Holiday actually has a free subscription service to inform his followers monthly of great books he has read and recommends. Over the years I have found many inspiring and mentally stimulating books from Holiday’s list.

Books are the foundation of knowledge. I read a lot because you will be hard pressed to find a successful individual who doesn’t read on a regular basis and because it is fun. Books have a special feel. Some people enjoy Kindle versions; I still prefer holding a book in my hands. I might get my news digitally, but when I dive deep into a subject I want paper in my hands even if I have to lug it through an airport. It’s just me.

Outside family, books have provided my greatest pleasures in life. I have traveled the world and through time; I have seen great societies and dined with the greatest minds of history. I did it all through the eyes of those who were there. Books have given me all that and more. You are free as long as you can crack a book and disappear into another realm.




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