Sunday, March 05, 2006

Obstacles to becoming wealthy in publishing

Newsletter publishing is one of the top 10 millionaire occupations. Maybe it's because there is a big need for specialized information, coupled with the fact that publishing a newsletter is relatively easy.

The secret diagram above shows how publishing information is EVEN EASIER in today's Internet economy. The key is to figure out where your "weak link" is, and to remedy the situation as soon as possible.

Let's take a look at the following situations:
  1. Here, the person knows a lot, and can write decently well. But he/she doesn't master blogging techniques and related innovations, such as RSS.
  2. This person knows more about blogging, but unfortunately doesn't have good writing skills.
  3. Finally, this "well-rounded" person is about to make a lot of money, mainly because he/she apparently has no weak link.

A weak link is basically anything that acts as a bottleneck to your capacity to generate revenue.

In other words, a weak link (or a "master constraint") is anything that limits your ability to create value, or your ability to deliver value to millions of people.

The greatest (and perhaps most invisible) obstacle to one person becoming immensely wealthy, is his/her very self-concept.

This is why it is said that "the man who thinks that ten million dollars is a lot of money, is not the kind of man who can make that kind of money."