Saturday, 04 February 2012
Success Stories | Successful Entrepreneur
Stories of How these Entrepreneurs Became Successful
Reading genuine success stories about entrepreneurs who have made a significant financial difference (positive) to their lives out of their
ideas is not only entertaining but extremely inspirational as well.
Often these ideas turn out to be so simple, but very lucrative, and are classified in the "why didn't I think of that?" type of idea.
Although having said that, I suspect that many of us have had an ostensibly good opportunity at some stage of our lives
that we have not taken advantage of, so even with a truly brilliant idea staring us in the face, the entrepreneur in us needs
to take action and turn it into a life changing business.
Million Dollar Success Story
Alex Tew was a 21 year old, college bound student who needed to raise cash rather swiftly to pay for his upcoming college fees.
Not wanting to be laden with debt or give up on a college education, which was due to start in a month from then (2005),
he sat down to a short brainstorming session on how to raise money to pay his college fees.
He started jotting down notes of how to raise cash quickly and then to get the creative ball rolling he wrote down on his notepad
and decided that $1,000,000 should do the trick & keep him from becoming a broke student.
So after a few hours of jotting down random notes, he tumbled to his answer -
"Sell one million pixels of advertising space on a website for $1 each"
This simple idea worked famously well and had many people muttering "Why didn't I think of that?"
Turning the Idea into a Million Dollars
As Alex had had some web design experience, it was an easy process for him to quickly purchase an appropriate domain name as well as
invest in a cheap web hosting package to host his website, MillionDollarHomepage.com, which he had live on the internet in a couple of days.
The concept was simply to sell pixels at a dollar each in blocks of 10 x 10 pixels as 1 pixel would be too small for an image to be
displayed properly.
So space was sold at a minimum purchase price of $100 for a 10 x 10 block and the website was to stay online for a minimum of 5 years -
in other words the purchase price was to be a one off payment for your ad to remain on the site for ever (or 5 year min).
So far so good but Tew needed the online world to know about this for it to take off he used the proceeds once he'd sold 1,000 pixels
to write and send out press releases to the local media near his hometown of Cricklade, England.
With a few quirky headlines these press releases had the desired effect as not only did the UK media quickly take the bait,
but what proved to be his best marketing allies, was that bloggers, online forums and chat rooms also began to embrace the story and broadcast it.
It wasn't long before Alex's story spread to other countries and in just 5 months Alex reached his goal of selling a $1 million worth of pixels.
Interestingly the last 1,000 pixels fetched $38,000 on eBay which put him well over the million dollar mark.
In conclusion, if you ever get that idea or opportunity that your gut tells you could make a difference, don't tell the next successful entreprenuer
you meet that he is lucky when you have opted for the safe, comfort zone option.
Niche Marketing Is Where the Real Money Is
To give your new business idea a decent chance of allowing your business to churn out some real money,
you should really base it on a niche market.
If you don't you may find that the competition is just too strong, even for a good idea, and you will find
yourself cutting prices and so on just to pick up some of the scarps.
So if you can discover a profitable niche that hasn't been worked to death you could be in the pound seats
and your business be able to generate a sustainable recession proof income for years to come.
So get started by reading about this proven
Niche Marketing Formula That Made $173,000 From A Website Selling Birdcages here »
