Posts Tagged ‘idea’

No Money – Just Think

April 6, 2010

The most common complaint I hear today is “Dan, I’d do something on my own but I don’t have any money”  Fortunately, many of the best ideas do not require buildings, leases, employees, or inventory.  And many can be started with very little, if any, capital.

Here are some recent hits:  

  • A hunter got an option on 400 isolated acres, then sold 40 hunting licenses for $5000 each.  He then completed the purchase free and clear and pocketed approximately $50,000.
  • An artifacts dealer arranged an exhibit for some rare Dead Sea Scroll pieces.  He had 30,000 people come through a minimally promoted showing in a small town.  Now he is opening in a major city, anticipating 50,000 viewers at $19 each.  You do the math.
  • A computer guy discovered the internal battery on his Apple computer needed to be replaced – at about $125.  He researched and found a small tool at Sears for $3.00 and the batteries in bulk for $2.00 each.  With these and a one-page explanation he created a repair kit for this common problem.  In a sixty day period he sold 700 kits at $24.95.
  • An artist received a comment that her paintings were so peaceful.  This comment triggered a thought that people going to dentist’s offices needed a peaceful surrounding.  She has been immensely successful by going to dentist’s conventions – likely the only artist there – and selling her paintings to dentists.
  • A high school student went to garage sales with his mother to buy Disney items.  He then placed them on eBay, netting approximately $3000 monthly in anticipation of beginning college.  Kinda beats the $8/hr job at McDonalds.
  • Another client wanted to be in the antique business but had no money.  He leased a warehouse, dividing it into 72 spaces for an antique mall.  In a 60-day period he rented 70 spaces, collecting first and last month’s rent.  With this $7000 he completed the lease, did some minimal renovations, and opened for business.  His rent is $1500 and he is collecting $3500.  In addition, he has two spaces for his own merchandise and receives a 10% commission on everyone’s sales.
  • One of our 48 Days coaches wanted to write a book.*  He got eleven other coaches to submit a chapter.  Then he had them pay $3500 each to get 500 copies for themselves (a 50% discount off retail).  He printed the books showing himself as the lead author – put a clean $30,000 in his pocket and continues to have the contributing authors purchase books from him.

*If you want to know more about how to turn your writing into income join us for the next Write to the Bank event here at the Sanctuary. 

I’m completing my list of 48 ideas you can start with less than $2500 – and make $30-40,000 part time.  Just finishing up with pictures and links. If you want to be featured send me your success story to askdan@48Days.com.

What’s your idea?  Keep in mind, ideas alone don’t put any money in your pocket – you must ACT!!

Spin a new idea

November 3, 2009

You’ve seen them on every corner – the sign spinners that seem to combine dance, rap, skateboarding and surfing.  And yes they do get your attention.  Max Durovic and Michael Kenny, now 25 and 26-year-olds, devised stunts with signs simply to stave off boredom in their simple sign-holding jobs.

We tend to think that any great idea needs to be complicated, using sophisticated technology, and requiring venture capital or at least a big bank loan.  Max and Michael now train others in the moves that are leading their company (Aarow Advertising) to a projected $5 million income this year.  Their 500 spinning employees earn at least $25 an hour, but a real virtuoso will command $70.  Justin Brown, Aarow’s director of training, says, “Sign spinning is a lot like ballroom dancing, except your partner has no life of its own.  Giving the sign its life and personality is a spinner’s true task.” 

Now think about the subtle difference between poverty and prosperity.  I’ve seen guys all over town here in Franklin, TN – guys with not much going on who are paid $7 an hour to stand on a corner with a sign.  Often you see them with the sign propped up while they listen to their iPod or read a book.  The thinking is likely – Hey I’m not paid much, I’ll just take it easy.  How much difference is there in education, age, work history or intelligence between a $7 an hour worker and a $70 an hour one?   That’s right – none of those things makes any difference.  But somewhere someone with a $7 an hour job saw an opportunity to be different – to stand out from the crowd.  And to potentially earn 10 times what they had been making. 

How many people now mowing yards, flipping hamburgers, filing papers, cashiering at Mapco, cleaning hotel rooms, changing oil, dispensing movie tickets, sweeping up popcorn, washing windows, directing construction traffic, or driving a mail route are one idea away from a big opportunity?   Where the chance to do it differently would give them 10 times their current income?

And now the last question:   Are you sitting on top of your opportunity?