Gobala Krishnan – The New Millionaires â€“ A Review
Posted on 25th August, 2008
I imagine anyone who wants to learn about making money on the Internet and wonders if itâ€™s possible to do it for a living would have their interest peaked to find a book addressing this subject.
If you donâ€™t know this already, Gobala Krishnan – one of the most prolific Malaysian Internet marketers â€“ has released his first paperback book with a fascinating title: The New Millionaires: Work From Home Make Money Online Live Like a Millionaire.
The book should be available in book stores near you as you are reading this.
I got a complimentary copy from Gobala a couple of days ago and I initially flipped through it to see if there are new nuggets to pick up. This book is written by someone who has been there and done it, so of course I did expect to find something interesting.
While reading the first few chapters, I found myself scribbling down on sticky notes marking interesting paragraphs and then continued scribbling in my notepad. By the time I was finished, I had several pages filled with points that I wanted to pay attention to.
Making money on the Internet is a vast subject and your imagination is the only limit as to how you want to make money online. The book explains not only the How part but the
- Why (why should you do it)
- When (part-time of full time)
- What (what to do and what to avoid)
- Who (success stories of Malaysian Internet marketers)
The Who part fills about half of the book. Itâ€™s a compilation of interviews with 12 Malaysian Internet marketers making money from various methods from eBay and dropshipping to the well known Google AdSense and affiliate programs.
Whatâ€™s so valuable about this chapter is that, people are sharing their own experiences giving you some insights into things behind the scene. Youâ€™ll find valuable tips and tricks as well as pitfalls to avoid.
Be warned though, the variety of business ideas may overwhelm you especially if you are just testing the water. Most newbies make the mistake by thinking that they probably have to learn everything in this chapter in order to become successful.
As explained by Gobala in the book, the problem starts when someone starts researching into hundreds of different ways of making money online. First they read about eBay and they dream of becoming an eBay powerseller, then they came across this thing called blogging, and they want to become a successful blogger making tons of money from it. They spend all their time learning but still fail because they never really put what theyâ€™ve learned into practice.
Thereâ€™s one element that must absolutely present if you want to make money on the Internet â€“ that is to identify things that you are passionate about and these are things that should be the foundation of your online business. As they said, find your passion and the money will follow.
In any online endeavour, often times it begins with you making no money or little if any for a while and it would seem like throwing the towel is the only sensible option. Passion is what will keep you going during those trying times and this book talks about this early to help you start off on the right path.
That said, youâ€™ll also have to be realistic in that your business idea has to be feasible. No matter how passionate you are about it, thereâ€™s little point selling ice to the Eskimos for instance!
I find the discussion about How to grow exponentially on page 186 really inspiring. While they are not entirely new to me, theyâ€™ve definitely reminded me to pay attention to those things that Iâ€™ve been tossing in the back seat.
This includes things like not to put off the creation of new products, realise that residual income wonâ€™t last forever without constant â€œnudgingâ€ from you to keep things rolling and focus on things that bring the most return.
The book touches on other subjects including how Gobala made RM31,500 selling a 12 page ebook (an insightful chapter I must add), how exactly he makes money online, an introduction to keyword research, email marketing, understanding resell rights and so on.
While most people can draw something useful from this book, Iâ€™d have to be realistic here, reading this book alone wonâ€™t change your life unless you are able to extract useful ideas and apply them in your own online business endeavours. In a nutshell – you have to take action!
If I were to start a new online venture hereâ€™s what Iâ€™d do:
- Discover whatever I am passionate about at the moment
- Create a website, a product or a service
- Drive targeted traffic and continue to improve on the website, product or service
- Only then I’ll try to make money from it.
- Iâ€™ll focus on this particular venture before I move on to the next business idea.
You can read more about Gobalaâ€™s book here