30 July, 2009

How to make a Million Dollars.

So you've been patiently reading along, waiting for the day when I tell you step by step how you make a lot of money in less than a year, preferably more than a million dollars, right?

Ok, I will. First, know that this is not the only way to do it, and I have about a hundred other ideas that are every bit as likely to make a lot of money on any given day. This is just ONE way to do it so you know I'm not full of crap.

If you've read any of my prior blogs in preparation for the Race to 2010 and you actually filled out any of the Baselines then you should already have a good idea or two of what skills or knowledge base you may have that others might find interesting. That's your starting point, right there.

The trick is to find a way to share that knowledge or skill with others, this way you can share it over and over again, getting paid each time for the benefit of your talents or expertise.

You can give courses, you can make a DVD/CD-ROM, write a book, develop a website - whatever fits your personality, skills and budget. Then you sell that product to the people who'll use it (and pay for it!)

Simple, right? So why isn't everyone who does that kind of thing filthy rich?

Usually it's a combination of not knowing how to sell their product, where to sell it, or what kind of product is needed by the consumer. Basically it's inexperience in running a business, not in your product itself.

Here's one example:

A carpenter who lost his job building houses in the current economy could write up a book full of step by step instructions on how to make things - bird houses, composters, shelves, armoires, furniture, dining room tables, cabinetry - whatever floats your boat. Then have them published by an on-demand publisher who will charge by the book. You find them online and go for one that gives you the most tools and lowest priced copies for the most minimal investment on your part. You should be able to find it for $50 or less.

Set up a demonstration booth just about anywhere the public passes by that you can legally set one up. Hopefully where you think a lot of potential customers would be likely to be. Have copies of your books and sign up sheets for your courses available for sale and start raking in the dough. You should be able to sell 10-50 copies a day in a reasonable location while demonstrating, plus sell the demo products and sell another 5-20 training class fees per day as well.
If you make $25 profit per book and another $25 per class and another $200 in demo product sales, then you're looking at approx $1450 per day, $7250 per week, $350k per year. Or better.

If your book sells well online or you get a sponsorship to do your demos in home reno stores across the country then you can expect that number to climb quickly.

If you can put together a second book you could add another $700-$1250 per day right there, and you'd be heading up closer to the $700k mark very quickly.

See where I'm going here?

Virtually any area of knowledge or talent or skill can be reproduced and sold. It's how you manage the selling and the quality and value of the product that makes you the money.

I can help you figure out your product, help you design a serious marketing and sales strategy to make it profitable, and help get you launched on your way to making some serious cash - but you have to take the first few steps.

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