From $700 dollars start-up capital to a $1 million dollar business....

This is an interesting and unusual business....

About 30 months ago, John Drummond withdrew about $700 in savings to start an online business. That money covered his business license, logo design, and a bare-bones inventory.

NOW, 30 months later, he's made over $1 million dollars in sales. What's the business which enabled him to do this?

When you read this story, keep this in mind.... The incredible power that a NICHE MARKET can have online. That is the part which I believe is reproducible.

Click on the link below to read the story!

- Dien Rice


From $700 dollars to $1 million dollars in sales....

Hi Dien,

It seems that the latest craze in consumer products is alternate forms of human transport that appear to defy the laws of gravity. The Segway, Unicycles, only the imagination knows what's next...

Also, when someone starts out small in business and hits that magic $1 million in revenues threshold, it is looked upon as an unusual or momentous event. When is the media going to finally accept the fact that if the timing is right for a new or reintroduced consumer product, success in that business is virtually a foregone conclusion regardless of the initial monetary investment.

Timing, innovation, and delivery of the right marketing messages to the masses are the crucial elements that empower business success. Among other lesser "details" of course.

Questions for all who read this:

What new and innovative products or services can YOU introduce to the "News Starved Marketplace"?

What older products or services (probably introduced before their time) can you pull out of those old magazine or catalog ads, dust off, modernize and reintroduce via the internet and news media?

Enough rambling on my part. Put on your thinking caps people. We're ready for what you have to offer!!

Respectfully,

Paul

Hi Paul,

Here's my own personal "take" on this....

One of the areas where you find high-growth businesses are those which target "niches." I think this unicycle business was a really good example of this.... The great thing about it, too, is that you don't usually need much money to do it!

By a niche I mean a very specific market, perhaps of hobbyists or something like that. People with a very specific interest....

WHY this works, I believe, is because if a niche is small enough, the demand will be there, but there will be little or no competition. And the internet is the perfect way to target a niche market....

At first, I think you don't even need a web site (though having one would help). You could first let people know what you have to offer by posting in newsgroups, discussion groups (like this one), or various "clubs" etc. online which are about that niche.... The way to do this right is to take part in the discussion, and leave your details as a little "signature box" or "link" at the end of your post. (People in most groups are very sensitive to unsolicited advertising, so you have to spread the word about yourself in a sensitive and polite way....) Notice that's how John Drummond started, by posting on newsgroups devoted to unicycling!

You can also do this with ebooks, books, or newsletters.... You can write a book or newsletter on a niche topic. It will probably be much easier to sell than something which is competing with hundreds and hundreds of other info-products out there.... You may even have the whole area to yourself. Yet a small niche can still make a nice income.

Any other comments about targeting NICHE markets?

- Dien Rice

Hi Dien,

Very informative post.

I guess when you've been online as long as I have, you tend to take the basics of web marketing for granted.

BTW, I have some unused ad space I want to capitalize on. Know of any company similar to Doubleclick.com or 247media.com that can give me a decent CPA proposal?

Paul

Paul:

Why not adapt the OFFLINE methods to your site?

One of my clients offers "Partnership Opportunities" to those they think may want to "sponsor" (display ads) the things my client does.

Why not do the same? Offer "Partnership Opportunities" (the ability to display an ad on your site) for an exclusive period of time and for a fixed amount of money.

Instead of 3 cents per click - which sees you only making money if someone clicks - charge $X per month, fixed.

If you don't feel like 'pounding the pavement' to get your sponsor/partner, use leverage and have a commission-only salesman do it.

Michael Ross.


Learn How To Use Leverage In Your Business