Making Your First Million.pdf - Association of Net Entrepreneurs and ...

Making Your First Million
I'm not proposing you go into the movies or the entertainment business as I've done both
to my shame and financial detriment. I'm suggesting you look at the principles involved
in the dissemination of information and entertainment. One of the projects Adam took on
in Russia was to establish an English language "Dolly" magazine entitled "Djevushka".
We had looked at the costs and potential demand and rewards and it made highway
robbery look anemic. The project withered for lack of resources before one issue was
produced, but on return to Australia, Adam began producing suburban throwaway
newspapers. These were small circulation 24 page parochial papers with 45% editorial
written by elderly unpaid local busybodies and the remainder made up of local
advertising. A two-man team, Adam producing the A3 tabloid on a Mac, John selling the
ads. $15,000 a month profit. Hmmm. Incidentally, while Adam has tired of sitting in
front of a computer and is now working on a drilling rig, John has sold the papers and
gone on to produce home pages on the web, a very profitable exercise.
Knowledge is power. Information is money. The market endlessly segments to make
room for good ideas. No matter what we're selling, it all comes down to information. The
lawyer sells his knowledge. The retailer sells his knowledge of where to buy the best
products. Consider the sale of information itself as a business. Graeme Mann compiles
databases. Useful information on schools, hospitals, libraries, government departments.
Information you couldn't acquire elsewhere in one source such as fax number, email
address, contact person etc. He collates it, puts it together into usable form, and sells it. I
know this because I bought a list from him. $600. I have no idea how long it took Graeme
to collate his databases, how much effort went into it, or how many sales he makes. What
I can tell you is the raw cost in making a sale to me once he'd amortized his costs was
zero. The information was shipped to me by email.
Graeme's information may have had a limited demand. But there is information which
has enormous demand: where to buy cheaply, how to do anything, save money, make
money, beat aging, etc. You have already paid the cost of finding out this information
yourself, so why not sell it to others? One of the most successful publishing ventures of
this century has been the Lonely Planet guides to backpacking around the world. These
books have become the bible for cheap and cheerful travel and have made their hippie
backpacking owners fabulously wealthy. Who'd a'thought it? You are unique. The
knowledge, experience and information you possess is unique. It is entirely possible your
knowledge would be of immense value to a vast number of people on this planet.
My wife has written a small booklet in her specialist medical area. It took 3 weeks
writing to commit a lifetime's experience to paper. It sells for $10. To date it has sold
over 50,000 copies in Australia and a similar number overseas. It will continue to sell for
many years to come. It won't make her rich but it will provide a small income for many
years. All for 3 weeks extra effort.
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