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

Making Your First Million
The other new technology you should be looking at is computerized 0055 and 1900
numbers to earn income while transmitting information. I noticed this week TV's
Gardening Australia promoting its magazine on the show, suggesting customers ring a
1900 number and leave their name and address to go in the draw to win 10 free
subscriptions. Given that the competition's Don Burke show gets 300,000 information
sheet inquiries a week, you would have to expect at least 30,000 callers to public
broadcaster ABC's show. At 50c a call (half goes to the promoter, half to the service
provider) they'd be looking at $7500 a week income for a total cost of less than $200, a
break-even point of 800 callers, and a promotional benefit to the magazine of many
thousands of dollars. 1900 numbers are also the basis of the new "Millionaire" game
shows on tv. So many hopefuls dial in, often hundreds of times each, hoping to get on the
show that it pays for itself many times over.
You can use your knowledge to become a consultant but to make serious money here you
need to enter into success-fee arrangements rather than payment by hourly rate. We see
this particularly in finance-broking or bringing together buyers and sellers. The
commodity is the same: information. You know a prospective buyer or seller. You
introduce them to their counterpart and charge a percentage of the transaction. Real estate
agents are a common form of this consultant. The key is to know more about the market
than either of the other two players. As a facilitator you need to understand the
psychology of the protagonists, oversell the buyer and undersell the seller to bring an
amicable conclusion and allow you to pocket from 1% to 25% of the transaction. Nice
work if you can get it.
Here's a consultancy business which comes to mind: From August 1, 1998 Australia's
largest telecoms carrier, Telstra initiated the Customer Service Guarantee. This was a
promise of excellent performance extorted by the Government in exchange for its
agreeing to Telstra's partial sale. In essence, it says if you have to wait for service we'll
pay you forty bucks a day for each day you have to wait. Sadly, and quite possibly,
predictably, with all the fuss over privatization and sub-contracting of services (It's your
fault! No it's your fault!) Telstra hasn't measured up. They pay if you know about your
entitlements and complain. At present, fewer than 2% of customers are aware of the
guarantee.
Can you see a business opportunity here? Find a way of locating the people due CSG
payments and find a way of getting it to them. We are talking in the hundreds of millions
of dollars by the way. As a consultant you could comfortably charge 25% as a success
fee. Of course you have to be quick. By the time this book is published, even on the
Internet, the window may well be closed. Some entrepreneur will have snaffled this one.
More than likely an ex-Telstra employee.
SiteSelling.com 70