Program the Internet to generate wealth for yourself
My specialty as an entrepreneur is KNOWLEDGE + INTERNET.
The breakthrough came to me when I realized that the famous "CEO" equation that Ram Charan describes (brilliantly) in his book What the CEO wants you to know, or R = MV, could be applied to Knowledge and Internet.
M refers to profit margin, while V refers to velocity (or sales / assets).
M is something that most professionals understand: your employer pays you a salary, but charges the client a price that is ABOVE your labor cost, and that's how companies make money.
The problem that you have, as an employee, is that although your salary is relatively secure and stable (although this is less and less the case), you do not have VELOCITY.
You can only sell your services to ONE employer, usually.
So that is the ceiling that is imposed on you, as you work within the "corporate" employment system.
Free agents, on the other hand, can offer their services to MORE than one employer or client.
Entrepreneurs go further: they hire people to deliver the services. They have basically taken themselves out of the equation.
This is when they get a chance to truly play the "CEO" game.
Okay, now that you have the background info in mind (and don't worry if you have to re-read the above many times, it is a bit technical), we can go back to the breakthrough that is turning me into a millionaire.
Rather than offer a service, I offer KNOWLEDGE (which can be delivered really, really fast, in any format -- audio, video, DVD, etc.).
And since I know how to program the INTERNET, that takes care of the velocity aspect.
In short, R = MV becomes R = Knowledge X Internet!!
Oh, R stands for Return on Assets.
The model that I use to license my specialized business knowledge to licensees, is not different from Edward de Bono's licensing program, where he offers training to trainers who then use his proprietary creativity workshops to teach and train their own clients.
What does this have to do with you?
The success secret here is 1. to move from offering a service, to offering specialized and valuable knowledge that people would pay for, and 2. to program the Internet to work for you, even when you are sleeping.
An example of "programming the Internet" is http://www.sureforms.net/connectivity.form, where I collect data from prospects in order to generate a report, free of charge, which nevertheless sells my expertise and products.
By the way, a big mistake that many entrepreneurs make is to spend thousands of dollars on a website that offers ABSOLUTELY NO VALUE to visitors!
It took me only 20 minutes to create the above form, which will enable me to create a customized report to help prospects. They are then much more likely to buy from me (if my report is good, that is).
In chess parlance (and I was a champion in my days!), this move is what is called "sacrificing one's rook to capture the opponent's king."
(to be continued)
The breakthrough came to me when I realized that the famous "CEO" equation that Ram Charan describes (brilliantly) in his book What the CEO wants you to know, or R = MV, could be applied to Knowledge and Internet.
M refers to profit margin, while V refers to velocity (or sales / assets).
M is something that most professionals understand: your employer pays you a salary, but charges the client a price that is ABOVE your labor cost, and that's how companies make money.
The problem that you have, as an employee, is that although your salary is relatively secure and stable (although this is less and less the case), you do not have VELOCITY.
You can only sell your services to ONE employer, usually.
So that is the ceiling that is imposed on you, as you work within the "corporate" employment system.
Free agents, on the other hand, can offer their services to MORE than one employer or client.
Entrepreneurs go further: they hire people to deliver the services. They have basically taken themselves out of the equation.
This is when they get a chance to truly play the "CEO" game.
Okay, now that you have the background info in mind (and don't worry if you have to re-read the above many times, it is a bit technical), we can go back to the breakthrough that is turning me into a millionaire.
Rather than offer a service, I offer KNOWLEDGE (which can be delivered really, really fast, in any format -- audio, video, DVD, etc.).
And since I know how to program the INTERNET, that takes care of the velocity aspect.
In short, R = MV becomes R = Knowledge X Internet!!
Oh, R stands for Return on Assets.
The model that I use to license my specialized business knowledge to licensees, is not different from Edward de Bono's licensing program, where he offers training to trainers who then use his proprietary creativity workshops to teach and train their own clients.
What does this have to do with you?
The success secret here is 1. to move from offering a service, to offering specialized and valuable knowledge that people would pay for, and 2. to program the Internet to work for you, even when you are sleeping.
An example of "programming the Internet" is http://www.sureforms.net/connectivity.form, where I collect data from prospects in order to generate a report, free of charge, which nevertheless sells my expertise and products.
By the way, a big mistake that many entrepreneurs make is to spend thousands of dollars on a website that offers ABSOLUTELY NO VALUE to visitors!
It took me only 20 minutes to create the above form, which will enable me to create a customized report to help prospects. They are then much more likely to buy from me (if my report is good, that is).
In chess parlance (and I was a champion in my days!), this move is what is called "sacrificing one's rook to capture the opponent's king."
(to be continued)
posted by Super Peter at 4:14 PM
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