In this Chapter we learned Four Important Axioms:
Axiom Number Twenty-Five – DETERMINE WHAT TO SELL BASED ON THE ANTICIPATED AMOUNT OF GENERATED PROFIT
Keep yourself focused on the amount of PROFIT you want to generate and make sure that your ideas are CONSISTENT with that PROFIT.
Axiom Number Twenty-Six – YOU DREAM BIG, YOU THINK BIG!
In order to achieve Dreams that have a sizeable price tag, you need to THINK BIG in terms of the INFORMATION, PRODUCT, OR SERVICE that you will provide so Your Business can in fact GENERATE THE DESIRED AMOUNT OF PROFIT.
Axiom Number Twenty-Seven – IF YOU CAN’T REACH YOUR POTENTIAL CUSTOMER, YOU WILL NEVER HAVE A CUSTOMER!
Make sure that you have a SOUND PLAN for REACHING your TARGET MARKET. There is NOTHING WORSE than have a GREAT PRODUCT or SERVICE and NOBODY to SELL IT TO!
Axiom Number Twenty-Eight – YOU ARE LIMITED ONLY BY YOUR IMAGINATION
Identifying a Reachable Market and creating or matching a useful, wanted, or needed Offer for that Market takes Imagination, Ingenuity and Creativity. From the inventor of the Paper Clip, to Ray Kroc recognizing that one small Hamburger Stand could be a Gold Mine, LET YOUR IMAGINATION GO!
In this Chapter, we explored WHAT TO SELL as it relates to the GENERATION OF PROFIT.
There’s no end to the CREATION of new INFORMATION, PRODUCTS, or SERVICES, and there is also no end to the creation of NEW WAYS of MERCHANDISING, and offering EXISTING INFORMATION, PRODUCTS or SERVICES in a FRESH WAY.
We reviewed 4 Different Scenarios, one of which may form the basis of the Foundation for what will be Your Business Plan.
- A UNIQUE INFORMATION PRODUCT
- A UNIQUE PRODUCT
- A DROP SHIPPED PRODUCT
- A HANDLED PRODUCT
We discussed the advantages and disadvantages of each Scenario as well as how the FOUNDATION OF YOUR BUSINESS PLAN is such a CRITICALLY IMPORTANT factor of Your Success.
The factors that we discussed are:
- The type of item, INFORMATION, or PRODUCT,
- The SIZE of the Market,
- The REACHABILITY of the Market,
- The PRICE of the item,
- The amount of GROSS PROFIT of the item,
- The amount of COMPLIMENTARY products that can be offered,
- The average PRICE of those products, and
- The average PERCENTAGE the Affiliate Programs are offering to you in return for generating Affiliate Sales.
And we pointed out that:
THE SINGLE MOST SUCCESSFUL RESULT WILL OCCUR IF YOU CAN FIND A SIZEABLE, REACHABLE MARKET FOR INFORMATION, A PRODUCT OR A SERVICE, AND THEN YOU CAN PROVIDE THAT, AS WELL AS RELATED INFORMATION, PRODUCTS OR SERVICES THROUGH AFFILIATE OFFERINGS.
In the coming Chapters, we learn EXACTLY how to do this!