Announcing! An Easy Guide to The Eight Best Ways to Still Make a Fortune From Scratch in Australia Today

Throughout my business life, I have made it my goal to learn from my own experiences and from those of other entrepreneurs. And my consultancy has afforded me myriad opportunities to learn from the successes and ‘learning experiences’ of my clients.

I believe that the highs, lows, challenges and triumphs can eventually lead us to find a better path to success. And it is from such experience that I have identified what I consider to be the eight crucial areas which should be focused on, in business, in order to attain that success. Collectively these “Eight Areas of “High Probability”, will stack the odds in your favour.

I recommend you adapt your business and ideas to fit these categories and bring together as many of them as you possibly can, in your business.

My mail order company incorporates seven of the eight areas. See if you know which ‘Law’ does not apply. And so to these eight areas:

High Probability Area of Opportunity #1

Own and develop an extraordinary business.

It is my opinion that the best way to make a fortune is to own a business and the type of business you choose will determine the speed with which you achieve your goal.

However, there is one area where I differ from most when it comes to owning a business and that is – I believe you will never make anywhere near as much money owning a business as you will selling a business.

People with lots of money will happily pay you if you have the skill and knowledge to create “money making machines.”

Obviously there are quite literally thousands of different types of businesses to choose from and a multitude of ways to market your product or service. What I want to stress is that its not so much lateral thinking that will propel you toward your desired outcome in business, as being able to recognise a successful business when you see one …

…one that you can copy or incorporate into another industry!

You see, something that works well for one business can usually be adapted very successfully and without the risk that comes with being “the first.” And as I’ve said many times before, I would rather be a wealthy copier than a broke original thinker.

Wouldn’t you?

If you carefully evaluate your chief objectives for bringing a product to market or building a business, you need not be a pioneer. Money made by pioneering is no more valuable than money made through reliable, predictable means. A dollar is a dollar.

If you are familiar with my publication “How to Turn an Ordinary Business into an Extraordinary Business” – the 9 Indisputable Laws of Speed Wealth”, you may recall my suggestion that you take a fresh look at the businesses you pass every day. Some of them will inevitably be limping along, making the proprietor no more than $20,000 per annum, certainly no more than $60,000 per annum.

Take a second look. Among these will be a “gem.” Someone will have found a way of turning an ordinary business into an extraordinary one.

And this may surprise you …

… More self made millionaires have accumulated their wealth through these “ordinary” businesses than through any other vehicle.

An example may be the local menswear store. Every time you go into the store, he is quietly working away in his daily routine. But there is more to this business than meets the eye. What is not so obvious is that the proprietor actually owns his shop freehold, or perhaps even the whole shopping centre. He has a pension fund sheltering a chunk of his earnings from the tax man and has done for the last 10 years. His store also has a number of other ‘profit centres’, namely he refers clients to dry cleaners and suit hire companies, for a commission.

He has a special buying agreement with suppliers, which provides him with a ‘kick-back’ based on purchases. And he markets his own label allowing him to make extra profit. He sells his own label to selected menswear stores …and … over the years, he has quietly been getting rich.

I have bought many ordinary businesses over the span of my working life, and transformed them into extraordinary businesses. One of these was a Lunch Bar that I bought in Perth’s busiest industrial area. Industrial areas are renowned for having a Lunch Bar on every corner – very, very competitive and extremely hard work. Long hours, little pay and debilitating burn-out!

This one was turning over $5,000 per week when I bought it. Within 20 months, I sold out, with a weekly turnover of $18,000 and for $225,000 more than I had paid for it.

For those in the know $18,000 per week turnover constitutes no ordinary lunch bar!

I did say that burn-out was a big problem with lunch bars. Well that was not the case for me. During the final year that I owned that business I would arrive at work at 9.30am and by 2pm I had gone home. I made sure I was there during the critical hours of trade, but no more. This is absolutely contrary to the accepted lot of the lunch bar operator.

It was simply an ordinary business producing an extraordinary result.

I have only recently met a fellow who has a system for buying and selling stocks and shares. This system involves a computer programme which takes the guesswork out of share trading. Of course this sort of programme has not been available before and people have relied upon word of mouth and the advice of their broker (who often have a different agenda from theirs.)

The exciting truth is that you can take just about any “ordinary business”, serve and satisfy the customers to a greater degree than they’re used to, add some clever profit centres to the core business, manage the finances smartly – and that business will make someone very rich.

High Probability Area of Opportunity #2.

Be exclusive and have control of your product.

Massive wealth is most often linked to exclusive ownership of a particular product or service. Simply, if someone else has control of your destiny, if someone else can change the economics of your business, alter your marketing rights, impede your creativity, sell the parent company or otherwise unexpectedly interfere in your business, you don’t really own your own business.

One of the inside secrets to making millions of $$ is doing everything possible to minimise the circumstances beyond your control. So always look for ways you can minimise the effect of outside influence on your business. In other words, be in control of your own destiny. At least that way, if you fail, you know who to blame.

If you are in business or about to go into business, I strongly advise that you consider the information in this section carefully. Maybe you should sell out before the unforeseen happens. Of course if you’re buying a business, you will be confronted, through advertising, business opportunities, trade shows and other sources, with a multitude of chances to distribute or market other people’s business products and services, distributorships, franchises and so on.

Look you can make money that way, but it’s difficult to get rich that way.

But beware!

Just when you think you have all bases covered, the unexpected can happen.

A case in point: A friend of mine named Kelly, who now owns a company called Hose Masters had then (and still has) a fleet of vans on the road, fitting fuel and hydraulic hoses to large plant machinery.

Back in 1994, Kelly’s business was paraded before 369 successful business people as the perfect example of someone who had total control over his industry. You see, he had created his own exclusive “language”, by colour coding all the hose piping on a very large portion of the market place.

This he did free of charge for his customers, as a service. Of course what it really did was ensure they called his company because –

(A) No other company had any knowledge of the application of the code.

(B) It simplified the ordering and replacement system for the clients.

This is due to the enormous cost of closing down and restarting this sort of equipment. So, he also date coded the hoses and was then in a position to advise his clients when they required servicing and replacement.

Sounds pretty fool proof. Surely he was now safe from any outsider who might seek to take his market share.

Unfortunately, Kelly did not produce the hose himself. In fact, the name of the manufacturer was displayed along the side of his company van. And guess what his suppliers decided to do when they saw what a fantastic system Kelly had created. That’s right – take it for themselves. They approached the van owners and virtually over night, halved Kelly’s fleet.

As I said, this happened just three months after Kelly’s business had been lauded as a wonderful example of creating “Exclusivity.”

By the way this story does have a happy ending. Kelly quickly acquired an over seas supplier (German I think) at a better price than the one he’d been receiving, which enabled him to compete with the opposition, manufacturers included.

He also changed his marketing strategy and last I heard was continuing to grow his business substantially.

The moral of the story is when you think you have exclusivity, (monopoly) make sure you are right … don’t allow anyone to slip under your guard.

High Probability Area Opportunity #3

Serve Serve Serve

This particularly equates to the Baby Boomers born 1945 – 1965. They as you may be aware, from my “How to Turn an Ordinary Business into an Extraordinary Business – the 9 Indisputable Laws of Speed Wealth”, represent the greatest single opportunity any one of us is ever going to be fortunate enough to encounter.

The Baby Boomers will earn more and spend more than any group of people in the history of mankind! And it is all going to happen in the next 15 to 20 years. Yes a Boom for business, or more importantly, for those businesses that understand and take advantage of the wants, needs, desires and frustrations of this massive group.

You see nothing can stop this juggernaut because economics are nothing more than the result of what we, as consumers, do. And when you consider that consumers account for 67% of gross national product and government controls only about 20% – who really is in control?

Most of the jobs being created in Australia today relate to service, on closer inspection, service to the Baby Boomer. These individuals lack one thing and one thing only. Time! And they are prepared to pay you handsomely for yours.

Do for them what they do not have the time to do for themselves!

… And a fortune will be yours.

A great example of this is the explosion of home services (cleaners, ironing, gardeners, and handymen) include home deliveries in this group too. If you can deliver your product or service to their door … better still.

High Probability Area of Opportunity #4

Duplicate & Multiply – Another of the “9 Indisputable Laws of Speed Wealth”.

The notion of this is simple. Find or create a system, a methodology that produces a profit, even a small one and duplicate, duplicate, duplicate. I call it the ‘cookie cutter’ principle and this is the very principle that is responsible for the creation of more self made millionaires than anything else.

When you have a business that works in one place, there is almost always another dozen, hundreds or even thousands of places where it will work. Once there was only one McDonalds, one Subway, one Target, and one Woolworths … even one BP Garage. So follow the principle of the “9 Indisputable Laws of Speed Wealth” and then duplicate like mad and when everything is going according to plan, you can sell out for millions of $$$!

Jani King have applied several of my opportunities together, namely Serve & Duplicate. If you don’t already know of them, they are a franchise chain of home cleaning services and they originated in America. But from where I sit they don’t stack up, for me or for you. Why? Because they are not exclusive. There is a tonne of competition in their market and even worse, if they fail for any one reason, then you (as a franchisee) go down with them.

The more of the “High Probability Areas of Opportunity” you can bring together, the better . . . most particularly don’t omit #2. – “Be Exclusive and Have Control.”

High Probability Area of Opportunity #5

Profit from the Age of Information

As I have repeatedly stated in my information products, we are living in a very unusual time in history. Most likely in your parent’s time, it was the Industrial Revolution, which determined the pursuits of one’s working life.

Today, of course, it’s the Age of Information. The most valuable commodity of our time is not real estate, nor precious stones, gold or oil. It is “specialist information”. People with lots of money will pay you well to ‘know what you know.’

There are several secrets to this formula and they are, valuing what you know and charging accordingly, the ability to access (inexpensively) large numbers of people who will pay you for what you know, having a method of taking them to a sale and finally, developing your information products into the right format, that is the one your market wants. Eg; newsletters, manuals, audio cassettes, video cassettes, diskettes and CD Roms.) Or a combination of some or all of the above.

“How To” information products are abundant in the United States, yet here the ground swell is just beginning. Opportunity is knocking on your door. Look around you, though and you will see people profiting from selling ‘what they know’ or ‘know how to do.’

Look in the Business Partnerships and you will see advertisements saying “How to Make Money With Your Computer”, “How to Make Money in the Mail Order Business”. “How to Sell Your House, Car or Boat for More Money”, “How to Make 500% More Money With Your Garage Sales”, “How to Make Money With Your Camera”, “How to Make Money as a Freelance Writer”.

Home study courses are often featured prominently. All these “How To’s” and many more I haven’t listed are small entrepreneurs and companies of various sizes and they are silently and efficiently, making hundreds of thousands of $$ and in some cases, millions of $$.

What do you know “how to” do? Well, maybe it’s “How to Turn Your Garden Into an Award Winning Showpiece”, “Brew Beer in Your Garage” “Lose Weight Quickly”, “Make Incredible Muffins”, “Get Paid for Travelling the World as a Freelance Journalist.”

Put your thinking caps on, the opportunities are endless. Virtually everyone I know knows how to do something very well, but does not place any real value on their area of expertise because you can’t touch it or see it. I know for a fact, that a company called News Syndicate turns over millions of $$$ by adapting information products to Home Study Courses and they started it all with only one product.

Here is a gem of an idea that will grow any business and literally flood your business with enthusiastic buyers.

Create a free report! A car dealership could produce – “17 Ways to Avoid Buying a Lemon” or “The Little Known Secrets of How to Save Thousands of Dollars and Still Get the Car You Want”. A Financial Planner could produce “How to Retire on $100,000 Per Year and Protect Your Hard Earned Money from the Tax Dept.” Do you understand what I’m saying? Create a free report for your clients. One that deals with the most relevant issues when dealing with you.

High Probability Area of Opportunity #6

Go Direct.

I personally own a Mail Order business (Direct Marketing) and on a day to day basis, it is literally handled completely by one person. The process being receiving, processing and packaging orders. This particular business was started with zero investment in stock or in premises. It simply runs from a home office and turns over anywhere between $10,000 to $25,000 weekly.

The business was started with one ad in a weekly newspaper, which returned us 203 orders. At $39.95 per order, that’s $8109.85 before stock had even been bought or the ad was paid for.

My point is that I don’t know too many businesses where this sort of opportunity is available.

Direct marketing is one of the fastest growing categories of business. Bypassing all the traditional complexity and costs of manufacturers’ representatives or sales forces; wholesalers and other middlemen, retail stores and brand identity, image building advertising, more and more companies are going directly to the consumers themselves or moving their products and services through established direct marketers.

How do you go direct? With ads or direct mail campaigns or TV or radio commercials that bring the end user directly in contact with the manufacturer or publisher, with you, usually via a 1 800 number or through the mail.

Products that were never sold this way in past years are finding new success in direct marketing ¾ furniture, security systems, computers, food, and even cars.

Services, such as long distance telephone and flower delivery, are now sold this way too. Today if you want to send someone flowers, you don’t walk or drive to the nearest florist shop; you simply pick up the phone and call a toll free number.

If you aren’t already applying some form of direct marketing to your business, or if you haven’t accumulated a list of names and addresses, you are failing in the most fundamental way to take advantage of the full potential of your business, take heed of this. Today 29^th August 1998 an “Innovations” catalogue turned up in my daily newspaper. Every day items, which are readily available at any shopping centre, are sold through this catalogue.

If you’re not careful, someone will do the same with yours.

A recent survey was conducted of 100 mixed businesses, in relation to their use of direct marketing. Here is the astonishing result. Only 18% even use direct marketing at all, yet 90% of that 18% described it as the most effective sales and marketing method they had.

High Probability Area of Opportunity #7.

Create Widgets by Creative & Clever Combinations

McDonald’s have made a fortune doing just this. Creating combinations of products (Meal combinations) and giving them generic names which people can use to simplify their ordering process and in some cases get a small discount as incentive. The end result is that McDonalds create a new advertising program with little or no disruption to business and they up-sell their clients by increasing the sale.

This is a little known strategy used by millionaires, that very few businesses exploit. Even those that do so barely understand the purpose and methodology behind it.

You can take virtually any product or service, add other products or service (they don’t even have to be your products or services, do a joint venture with someone who would normally sell it to your clients) give it a title and then market it to your clients.

I do this with my mail order business every day. . . “Buy this and you get this and this and this … and if you order within the next 10 days, I will also give you this, which represents a saving of that, but you must be quick, otherwise you will miss out.”

See how you can build a ‘story’ from nothing by creating a widget. This process adds perceived value in the minds of the consumer and guess what the number one motivator is of the Baby Boomers. (You remember this powerful group – the one with the largest spending, largest earning capacity of all time) The number one motivator is – Perceived Added Value!

Give these people more than they would normally consider necessary . . . and you will get to fill your suitcases with money!

Just this last year we took a video, packaged it with an audiotape and have sold 8,000 of this combination (widget) at $40 plus postage, handling and insurance. That is one product alone. And, I might add, the distributors of this product would have been lucky to have sold 100 videos in the whole of the previous year, themselves.

Recently, I have coached a very successful home building company. Their biggest problem was that their display home had been in the market for some time and by industry standards, was ‘old.’ But due to circumstances, their new centres were not completed or open to the public, yet. Sales were dropping and the reps were complaining – and rightfully so.

So with the cooperation of the very astute owner of the company, we created a widget. We added a free roller door, stainless steel appliances, instead of the usual baked enamel and a free dishwasher. Total value was $3,800… for free! We also reduced the size and price of the house by $7,000 and made it more affordable.

When we marketed this ‘widget’ to the market place, it resulted in “the busiest weekend through the display centres that I can remember” … those are not my words but those of one of the company reps at our regular Monday morning sales meetings.

So consider for yourself how you can create widgets in your business. How you can turn nothing into something.

High Probability Area of Opportunity #8

Become Famous because fame and fortune do go together.

The best way to become famous, for the average individual, is to be provocative and predictive. In other words, if you are a real estate sales person, do some research and write a book, calling it “How to Buy a Home With Little or No Money Down and Sell it For Thousands More $$ Than You Paid For It.” Or “Give Me $100 and Before the End of the Day I Will Own an Investment Property That I Can Sell For a Profit”.

People would be pretty interested in that and, more importantly, so would the media. How about “How To Meet the Love of Your Life in 90 Days Or Less”. Do you think any of the lonely people out there might like to read that? And what about the media? They would have a field day. And you would sell a truckload.

The secret is to be outrageous or make predictions. People love predictions. That’s why there is such a boom in the ‘horoscope’ industry.

If you’re a financial adviser, create a free report – “The 9 Best Ways to Retire on a Budget of $75,000 Per Year Spending Money” or “The 9 Best Ways to Invest Your Money So You Can Retire at 55 & Never Have to Worry About Money Again”.

Do you get my drift? Very few business people have any concept of this type of marketing and unfortunately, never get to take advantage of it. Simply, the media needs “newsworthy” information to broadcast, to attract listeners and readers.

They can and will make you famous if you give them what they want and the beauty of it is that you can do it with little or no money!

Recently I appeared at a seminar on the Gold Coast. The topic of my first presentation was “Boom Businesses of the New Millennium – What’s Hot, What’s Not.”

This presentation and the product we have produced under that title is predictive and provocative and judging by the standing ovation I received, appreciated greatly. I own the master rights to my section of the seminar and this product is now available for purchase plus I will include in it, some added value products, of course.

So how can you be provocative because fame and fortune do go together … like a horse and carriage.

Epilogue

So there you have it. My recommendation is that you read this report again and again and then combine as many of the “8 Best Ways to Still Make a Fortune in Australia from Scratch” as you can. When you analyse my mail order business, I have utilised:

# 1. Ordinary Business made Extraordinary

#2. Exclusivity – I own or have written most of my products.

#3. Serve Serve – We provide a very high level of service to, predominantly, the baby boomers.

#5. We sell and develop Information products.

#6 It is a Direct Market and Mail Order company.

#7. We are continually combining products to create widgets for the market place.

#8. Last week I did my first press release with roaring success and in August I spoke to 150 hungry business entrepreneurs at a seminar on the Gold Coast.

Good Luck! – or perhaps I should say Good Planning!

Apr200517

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