First off, thanks to all of those who voted in our first poll! There will be more topics forthcoming, so keep an eye out for them. As you may have guessed, there is a reason for each of these poll questions. Hopefully they will generate some good discussions.
Here is my take on the poll results: Surprise. When I was selecting the values, I honestly believed that more people would choose >$1,701,000. As burgeoning entrepreneurs, most of us have big dreams, and feel that we need big bankrolls to back them up. As it turns out, most of us are wise enough to realize that FREEDOM is far more valuable than money. Let's talk about the 2 most popular responses, ranging from $900,000 to $1,700,000 and discuss how easy it is to get there.
According to Internet World Stats, nearly 1.6 billion people around the world are currently on-line. This is a staggering total, and should help you realize just how easy it is to reach that $1.7 million target that most of us would happily retire with. Let's do some math. If you can develop a product to sell online that earns you $10 per sale, you would only need to sell 170,000 of these products to hit the high end of your target. There are a ton of products that you can develop with a $10 profit margin, whether it is a book, e-book, toy, software program, fitness plan, or something else.
That number drops even quicker if you can increase your profit margin to $15 or $20! In reality, your goal is much closer than you realized. By developing one effective sales web site (We will discuss this topic in a later post), creating a product of great value, and marketing it properly, you will be there in no time.
Just to wrap it up, the Google guys have made Billions with their website, so a couple million should be a breeze for you! Start brainstorming for product ideas, and check back shortly as we will talk about developing an effective sales web site for your idea.
Good Luck!
Here is my take on the poll results: Surprise. When I was selecting the values, I honestly believed that more people would choose >$1,701,000. As burgeoning entrepreneurs, most of us have big dreams, and feel that we need big bankrolls to back them up. As it turns out, most of us are wise enough to realize that FREEDOM is far more valuable than money. Let's talk about the 2 most popular responses, ranging from $900,000 to $1,700,000 and discuss how easy it is to get there.
According to Internet World Stats, nearly 1.6 billion people around the world are currently on-line. This is a staggering total, and should help you realize just how easy it is to reach that $1.7 million target that most of us would happily retire with. Let's do some math. If you can develop a product to sell online that earns you $10 per sale, you would only need to sell 170,000 of these products to hit the high end of your target. There are a ton of products that you can develop with a $10 profit margin, whether it is a book, e-book, toy, software program, fitness plan, or something else.
To sell 170,000 products, you would only need to sell to 0.01% of the 1.6 billion users currently surfing the web!
That number drops even quicker if you can increase your profit margin to $15 or $20! In reality, your goal is much closer than you realized. By developing one effective sales web site (We will discuss this topic in a later post), creating a product of great value, and marketing it properly, you will be there in no time.
Just to wrap it up, the Google guys have made Billions with their website, so a couple million should be a breeze for you! Start brainstorming for product ideas, and check back shortly as we will talk about developing an effective sales web site for your idea.
Good Luck!
Good Luck!
Michael A. Schrader
www.upwardlifestyle.com
