Quote:
Originally Posted by Duane Adolph
Phil Thanks for the link to this story. FASCINATING!
I had never heard of this guy before. He's brilliant. I like this quote about his first company he started fresh out of college...
Excerpt:
"The new company that Jones and Carr launched, Boston Technologies, pitched the Baby Bells a product that promised to handle 20 times the call volume of their existing systems, guaranteed 99.998% reliability, and would be delivered in three months at roughly the same cost. Bell Atlantic took them up on the offer. There was just one problem: Their product didn't exist. "Not yet," as Jones likes to say.
"You have to be completely nuts to be as young as we were and say, 'We're going to make a major change to the public telecom system,'" recalls Carr, 47, by phone from Mozambique, where he's making philanthropic investments. "I give Scott a lot of credit for bravery." Jones barely left the office for three months, sleeping under his desk - when he slept at all. But he delivered. In 1998, with revenues up to $105 million, Boston Technologies merged with Comverse and took its name."
How often have we seen businessmen selling something which doesn't exist yet?? Then making a fortune on it.
Thanks Phil my minds a blazin' with ideas from this one.
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Thanks Phil - I agree with Duane, it was fascinating!
And thanks too Duane for highlighting that - that little detail passed my notice. But I agree, it's very important!
You CAN sell a product BEFORE it exists. Why is that important?
Because it means you can start making money without much capital!
Many people say - "Oh, if only I had a little money - man, I'd use that to get rich!" But - there are people who manage to get started with little capital. (I just wrote a "SeedZine" issue on this, for those who are signed up to it.)
Thanks again Duane...
Cheers,
Dien