For Serious Wealth Creators
Kangethe Copyright © 2003
Living the life of your dreams is about to become reality.
The principles are presented as a set of strategies. Clearly,
everyone will not use all strategies. However, the more of these
strategies you can bring into your life, the more successful you
will be in achieving your goals.
Strategy - 1 Choose The Right Business
Choosing the right business to be in is the single most important
wealth creating decision you are ever going to make.
Burn this simple statement into your brain and from now on let it
be the guiding principle whenever you are faced with evaluating a
new "business opportunity."
Your business choice has to match your skill set, it has to fall
within the limits of your capital resources and it must above all
else compliment your character and personality.
When you have this optimum set of circumstances then your business
will be a pleasure and not toil. This is a clear recipe for
enjoyment and success.
Characteristics Of "The Right Business"
- The business must
service a large market - Niche markets can also be very
profitable but require specialist products and customer
service. Unless you have access to such specialist products
and can deliver the specialist customer care it is best to
steer clear of highly targeted markets until you are more
confident in your business abilities.
- The business must
adapt and change with the market. However, beware faddish
businesses can be very difficult to operate because of the
rapid rate at which market perceptions change. Nevertheless
"The Right Business" must be able to predict, lead
and dance to the market tune.
- Capital outlay must
be minimal in order to maximize margins, cash flow and
What Business Fits
These Characteristics ?
A home based, direct response marketing business, dealing in
Information has all these characteristics and offers unparalleled
flexibility for the serious Wealth Creator.
If you take this a stage further and link this business to a
presence on the Internet then the opportunities to make serious
money increase almost exponentially.
What is Direct Response Marketing ?
Direct response marketing entails the targeting of a specific
market by use of direct mail shots.
These can be sent in paper copy by snail mail as in the offline
world of marketing lists or by e-mail as happens in the online
Now lets get specific and see how direct response fulfills the
characteristics of "The Right Business."
-> Large Market
Direct Response is a multi billion dollar industry and growing.
For a statistical analysis see http://www.sherpastore.com/store/page.cfm/1988.
The US leads the world as a market place, principally due to the
geographical spread of the country, the acceptance of direct
response marketing as a valid means of buying and selling
The UK is a very sophisticated direct marketers environment, where
many US trends manifest themselves as a result of the close
cultural, economic and political ties between the two countries.
Why Should You Start An Information Direct Marketing Business ?
- People like
Information. They seek it everywhere. On the TV, on radio at
the cinema, in newspapers, in books and reports and since the
mid 1990's increasingly on the Internet.
- The need for
Information seems insatiable - the more a person knows about a
particular subject, the more they want to know. It is also
true that the less someone knows about something which is of
some interest to them the more they will seek out information
to expand their knowledge.
- Advances in
technology in the computing and electronics worlds means it is
now unbelievably easy and cost effective to engage in the
Information provision business.
- People will pay
money for access to good, useful sources of information. They
have little time to do the required research themselves and
will pay someone else to distil the information they require
into usable forms.
- There are numerous
Information product types and it is more than likely you will
find one or more of the following financially
rewarding.E-zines (Internet name for Newsletters), audio
tapes, video tapes, CD, DVD, Live tele-conferences, workshops
A direct marketing business working with Information affords you
the opportunity to change with your market as quickly as it takes
to produce a new Information product.
This can literally range from a few hours for news, short shelf
life information products to a few days or weeks for longer
lasting Information items.
In some cases the changes you need to make to your products to
stay ahead of changing market trends may be as simple as title
changes and a few amended paragraphs in the content.
-> Low Capital Outlay
Many of your good ideas go by the wayside for one simple reason.
It costs too much to successfully float the idea, and then to
sustain it through the early years as it becomes established.
An Online direct response information product business can be
started for less than $300 per annum in the USA or £200 per annum
in the UK.
At the very minimum, you will require an Autoresponder service to
serialise your Information product. An autoresponder is an e-mail
service that sends out your information to your e-mail list at
For those with a little bit more cash a secure e-book publishing
tool will help safeguard your hard work against cyber theft. After
you have compiled your material, the last thing you want is for it
to be "stolen." Secure tools exist to help protect you
against cyber fraud and theft.
Finally, you will require some means for accepting payment for
your Information Product.
One of the truly remarkable things about this business is that all
these requirements can be achieved for the low capital outlay
It's all very well to be able to start your new business on a
shoestring, but adverse cash flow causes more startup businesses
to fail than failure to make a profit.
When it comes to money there is one golden rule - Your business
must generate more cash, than you pay out !! Long term survival is
more dependent on this "law" than it is on making
How then do you ensure that the business you started up on a
shoestring doesn't become a bottomless pit, swallowing up more
money than it generates ?
Information marketing via direct response offers you the perfect
Business setup to ensure a positive cashflow.
This is the one business in which you can test your product for
profitability using a subset of the large market you have
identified. If it proves successful you then roll it out to the
rest of the market.
If, however, the initial small scale, inexpensive test indicates
that the product is wrong, or the market is not ready then you
ditch the product and move onto something else.
The key message here is Test your product before you commit money
to the project.
I can hear you asking - And how exactly do I do that ?
The simplest way to conduct a test is to
- Identify a large,
- Using a sample from
that market ask what information products they would like or
- Generate your own
idea for an Information product and then write to a sample of
the market and solicit their views as to it's usefulness and
About the Author:
Kangethe has published various articles and e-zines showing
YOU exactly how you can turn your dreams into reality. This
article is the introduction to a series of over 50 wealth
creating strategies.visit www.simplyeasier.com
for more information.