If you really want to have the odds stacked in your favour, identify the areas of ‘highest probability’ and concentrate your efforts there!
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.
It’s not so much lateral thinking that will propel you towards success in business, as being able to recognise a successful business opportunity and model it. I would much rather be a wealthy copier than a broke original thinker.
High Probability Area of Opportunity #2
Be exclusive and have control of your product.
Massive wealth is most often linked to exclusive ownership. Simply, if someone else has control of your destiny, they 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.
High Probability Area Opportunity #3
Serve Serve Serve
This particularly equates to the Baby Boomers born 1945 – 1965. They represent the greatest single opportunity any one of us is ever going to be fortunate enough to encounter. They will earn more and spend more than any group of people in the history of mankind!
Most of the jobs being created in Australia today relate to service, and on closer inspection, service to the Baby Boomer. A great example of this is the explosion of home services (cleaners, ironing, gardeners, and handymen)
High Probability Area of Opportunity #4
Duplicate & Multiply. Find or create a system, a methodology that produces a profit, even a small one and duplicate, duplicate. I call it the ‘cookie cutter’ principle.
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.
High Probability Area of Opportunity #5
Profit from the Age of Information
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 gems, gold or oil. It is “specialist information”. People with lots of money will pay you well to ‘know what you know.’
High Probability Area of Opportunity #6
Define your message to market match and go direct to that niche.
A recent survey conducted of 100 mixed businesses, in relation to their use of direct marketing, revealed a meagre 18% using direct marketing, 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 and giving them generic names which people can use to simplify their ordering process. The end result is that McDonalds create a new advertising program with little or no disruption to business and they up-sell clients by increasing the sale.
You can take virtually any product or service, add other products or service, give it a title, then market it to your clients.
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. If you are in real estate sales, write a book, called “How to Buy a Home With Little or No Money Down and Sell it For Thousands More $$ Than You Paid For It.”
People would be pretty interested in that and, more importantly, so would the media. The secret is to be outrageous or make predictions. People love predictions, just look at the boom in the ‘horoscope’ industry.
My recommendation is that you combine as many of the “8 Best Ways to Still Make a Fortune in Australia from Scratch” as you can.
Committed to Multiplying Your Profits and Guilty of Conspiracy to Create Capitalism,