“Most profitable business ideas are simple: they focus on creating systems that can be multiplied and duplicated without massive costs. A few of the many critical concepts presented in this book are: premium pricing, exclusivity, niche marketing, up-selling, cross-selling, and franchising. You’ll also learn how to become a recognized expert in your field, market products directly to the public, profit from selling information, and build salable assets,” — Personalmba.com
While I was in prison camp, I was looking for a way to make money with my ideas and my bunky (roommate) referred the above book to me. The book talks about how to take your ideas to the next level and get paid to do so. “It’s one thing to want to do a project, but another to get paid from it,” my bunky told me.
The author, Dan Kennedy says that the best way to make money from your ideas is to create a membership option. This would allow people to come back regularly and it would bring in a steady income. Also, it’s best to make the value of the product worth more than the money the customer is required to pay. For example, one of the ideas that I came up with from reading this book was to charge $5.99 for some DVDs and maybe a second book. It’s combined is worth would be $25.00, but I would sell it for $9.99.
I had another idea to start a news service that’s worth $15 a month but I’ll charge them $7.50, assuming the $7.50 will cover the business expenses. I also created an idea where I could use articles on the news site for a magazine and a podcast. However, those ideas haven’t taken place yet.
For anyone who looking to generate ideas for a business, I highly recommend this book. As always, if you have any other ideas, let’s talk about them in the comment section.