From $1 to $1,000
"The intellectual distance from $0 to $1 is greater than from $1 to 1,000."
This success secret could make you rich, but you've got to believe it.
What the statement above -- an insight that came to me a few days ago -- means is that it takes much more ingenuity and intellectual discipline and intelligence and effort to create knowledge worth $1, than it takes to market that knowledge to 1,000 people who will each pay you $1.
Example: If you were to stop someone on the street, and ask him to pay you $1 for a piece of valuable knowledge that you can give him, right there and right then, would he give you a dollar?
If so, why? If not, why not?
If you can sell him a piece of knowledge you have, then all you have to do is find 1,000 people like him and repeat your selling process (your pitch). What you would have, then, is simply a marketing problem. (That is, going from $1 to $1,000).
However, if you cannot sell your knowledge to ANYONE for $1, then you would have a product development problem. (That is, going from $0 to $1).
Most people do NOT get rich either because they don't know how to go from $0 to $1, or how to go from $1 to $1,000.
To go from $0 to $1, you have to seriously observe what kinds of questions people have, and how you can help them with your knowledge. Yahoo! Answers is a good place to start (http://answers.yahoo.com).
To go from $1 to $1,000 (or even $10,000, for that matter) is just a matter of studying marketing and especially new technologies such as blogging or RSS, which enable you to distribute your knowledge to a limitless audience worldwide.
This success secret could make you rich, but you've got to believe it.
What the statement above -- an insight that came to me a few days ago -- means is that it takes much more ingenuity and intellectual discipline and intelligence and effort to create knowledge worth $1, than it takes to market that knowledge to 1,000 people who will each pay you $1.
Example: If you were to stop someone on the street, and ask him to pay you $1 for a piece of valuable knowledge that you can give him, right there and right then, would he give you a dollar?
If so, why? If not, why not?
If you can sell him a piece of knowledge you have, then all you have to do is find 1,000 people like him and repeat your selling process (your pitch). What you would have, then, is simply a marketing problem. (That is, going from $1 to $1,000).
However, if you cannot sell your knowledge to ANYONE for $1, then you would have a product development problem. (That is, going from $0 to $1).
Most people do NOT get rich either because they don't know how to go from $0 to $1, or how to go from $1 to $1,000.
To go from $0 to $1, you have to seriously observe what kinds of questions people have, and how you can help them with your knowledge. Yahoo! Answers is a good place to start (http://answers.yahoo.com).
To go from $1 to $1,000 (or even $10,000, for that matter) is just a matter of studying marketing and especially new technologies such as blogging or RSS, which enable you to distribute your knowledge to a limitless audience worldwide.
posted by Super Peter at 11:57 AM
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