The Secret of Making Money
One of the best talks about entrepreneurship and business models i’ve ever heard.
Key thoughts:
- Charge money (WHO would have thought of that!!!)
- Provide great service (if you order shoes at 10pm and they are delivered the next morning, you’ll use this service again –> Zappos)
- Be a decent italian restaurant. You don’t need to be the best freaking restaurant on the planet! –> it’s enough to attract a few thousand customers; you don’t neet to attract 7 billion!
- Forget the billion dollar bullshit. The startup community is being brainwashed through repeated broadcasting of the stories of Facebook, YouTube, Twitter etc. It’s better to have 1m than -10k on your bank account. Going for the billion is pretty much suicide for first time entrepreneurs. You can worry about the billion once you have the million (and maybe you’ll realize that the million is all you need).
- The B2B market is easier than the B2C market –> Adress Fortune 5.000.000 instead of Fortune 500
- Use the ideas of the 4 Hour Work Week. Forget 14 hour days. It’s impossible to be productive for 14 hours straight. Most people aren’t even really productive for 3 hours a day. Why not only work 4 days a week for 8 hours a day?
- Take it easy! Stop hurrying! You can’t build a company over night. It takes years - and that’s completely okay, because there is ENOUGH time - stop thinking the window of opportunities is open for only a few months! There are ALWAYS enough opportunities, even if you sell SHOES!
(via Zimtkorn)
Categories: Entrepreneurship, Life in General, Videos
March 4th, 2009 at 14:26
Great advice, especially the last one - take it easy (and work hard) is my favourite
March 15th, 2009 at 17:37
indeed some very good points in here.
I like the emphasis on the incremental, the calculating backwards (i.e., a million revenues equals charging 2000 people below ~40 usd per month for a year)
a bit along the lines of this post of tim ferriss which is one of my favorites from his in general inspirational blog
http://www.fourhourworkweek.com/blog/2007/10/25/weapons-of-mass-distractions-and-the-art-of-letting-bad-things-happen/
March 18th, 2009 at 14:39
one addition:
here´s the link to (the free online version) of the “getting real” book to set up online business by the same guy
http://gettingreal.37signals.com/toc.php
March 19th, 2009 at 13:59
The secrete of making money is good article.Use the ideas of the 4 Hour Work Week.
Take it easy! Stop hurrying! good ideas. all are good implenting is left thank u for ur advice
April 13th, 2009 at 02:44
Thats a great write. Thats exactly where im sitting at the moment.
I know its coming though :)
April 29th, 2009 at 21:38
I think the only secret of making money online is hard work and the willing to keep going when you are not making money and when times get though.
May 16th, 2009 at 22:49
Thanx Remo for posting this video,
great advice with lot´s of humor “having a price is very cool for getting profit” :-)… indeed !
May 22nd, 2009 at 20:19
We all are guilty of the closing window of opportunity. I am finding out that putting it out there and then improving on it has a lot of merit. I used to delay launching projects until I thought they were perfect. Perfection is a journey and sometimes being good is enough.
June 3rd, 2009 at 17:02
Thanx Remo for posting this video.
June 4th, 2009 at 12:06
Take it easy! Stop hurrying! good ideas. all are good implenting is left thank u for ur advice
June 5th, 2009 at 00:58
I know its coming though :)
June 7th, 2009 at 17:41
remo thanks. good site.
June 7th, 2009 at 18:36
It is so nicely when is talked about the secret of making money.I think that everyone likes this topic.Thanks for the great post.
June 10th, 2009 at 02:36
I think everything is about planning. If you can define what, when and how and your responses have consistency, you’re headed towards getting your goals.
June 10th, 2009 at 08:01
Thats a great write. Thats exactly where im sitting at the moment.
I know its coming though :)
June 23rd, 2009 at 16:05
what a great article Remo..
Thank you for give me an enlightment within my search…
Keep posting yah…
June 27th, 2009 at 22:56
Some smart remarks, there. You can be very busy, busy, busy and on the fast track to failure at the same time.
Nowadays I tend to let an idea ferment in the back of my mind for a good while, before implementing it. It’s saved me a lot of work and making mistakes.
August 31st, 2009 at 13:29
I like the emphasis on the incremental, the calculating backwards (i.e., a million revenues equals charging 2000 people below ~40 usd per month for a year)
September 8th, 2009 at 11:45
Thanks for sharing this video Remo. It includes some clues about how the money can be earn easier! ;)
September 10th, 2009 at 08:13
Thats a great write. Thats exactly where im sitting at the moment.
I know its coming though :)
October 6th, 2009 at 21:38
Hi,
Well I think that makinng money now ith the age of the internet it is easiest than never before, because you have got a millions of people online and you can share sell or get funny within minutes! Thats didnt exist only 15 years ago! So, I think that we are lucky. Four hour work week. Thats an amazing book. I start reading it few days ago and there is a lot in this book. Thanks everybody. Regards from Spain
October 11th, 2009 at 13:19
Thanx Remo for posting this video.
October 16th, 2009 at 16:20
” You can worry about the billion once you have the million (and maybe you’ll realize that the million is all you need). ” I like this.
Your article seems to be an eye opener to all web savy out there.
December 5th, 2009 at 14:52
I like the emphasis on the incremental, the calculating backwards (i.e., a million revenues equals charging 2000 people below ~40 usd per month for a year)