www.themillionairedropout.com

Business Start-Up Show 18th November 2016

£100 Start Up Ideas & Business Tips by Vince Stanzione

3 minute background

Started first business aged 11, computer games on tape. First real £100 business was car phones.

Mail Order Business Model

Don’t make lack of resources an excuse

Its not a lack of resources that is stopping you its lack of resourcefulness. If you want it badly enough you will find a way.

Just DO IT! – Don’t wait for everything to be perfect – it never will be

People find it hard to deal with big numbers – tasks – break it down

Turning 1p into over 1 millionStep 1 find 1pStep 2 1p-2pStep 3 2p-4pStep 4 4p-8pStep 5 8p-16pStep 6 16p-32pStep 7 32p-64pStep 8 64p-£1.28pStep 9 £1.28-£2.56Step 10 £2.56-£5.12 (Call it £5 to make it easier.)Step 11 £5-£10Step 12 £10-£20Step 13 £20-£40Step 14 £40-£80

Start small but think BIG – how can you scale up your business?

People find it hard to deal with big numbers – tasks – break it down

Step 15 £80-£160Step 16 £160-£320Step 17 £320-£640Step 18 £640-£1,280Step 19 £1,280-£2,560Step 20 £2,560-£5,120 (Call it £5,000 to make it easier.)Step 21 £5,000-£10,000Step 22 £10,000-£20,000Step 23 £20,000-£40,000Step 24 £40,000-£80,000Step 25 £80.000-£160,000Step 26 £160,000-£320,000Step 27 £320,000-£640,000Step 28 £640,000-£1,280,000

Start small but think BIG – how can you scale up your business?Vince Stanzione C 2016

Don’t be afraid to ASK

Steve Jobs aged 12 called Bill Hewlett and asked for some spare parts. Hewlett gave Jobs the parts and a summer job.Search youtube “jobs on failure”

The Power of Asking – Don’t be afraid to ASK and don’t be afraid to fail

The Luck Factor – Increase your luck

In Millionaire Dropout I talk about “Luck” and the studies done by Professor Richard Wiseman

Ideas are worthlessIdeas?“We’ve had ’em since Eve mated Adam, but take it from me Execution’s the key.”Felix Dennis – How to be Rich

An average idea with good execution beats a brilliant idea with poor execution

Your don’t have to be First or the Only one

No shame in being 3rd,4th,5th

“Vince its already been done….”If no one has done something - that is worrying. Pioneers get arrows in their back. Why do you see fast food outlets all next to each other?

3. Be Market Driven, Not Product Driven

Find out what the market wants and who you can sell to before creating or buying products. I explain exactly how to do this in my book and how to test ideas with little or no money.

Find out what people are buying – Give them what they want – WIIFM

People buy what they ________ not what they ________

Never Sell P______ always sell C____

The Mind of the Buyer

Getting paid by the Hour – is a bad deal Don’t trade your time for money

Let’s say you earn £100 an hour and you work 10 hours a day, 5 days a week, £5000 – but you have just capped yourself. If you own a product or are being paid a royalty how much can you make in the same week? – I make money while I sleep. 24 hours a day 365 days a year someone worldwide is buying my

product without me having any involvement – Interested in doing the same?

Be an IP (intellectual property) Owner not a Worker

Examples of Intellectual Property (IP) that you can own

Books, EBooks, Newsletters, sales letters, Templates, Websites, Video Files, Audio Files, DVDs, CDs, Domain Names, Patents & Trade Marks, Logos, Photos, Graphics and software are just a few examples

Owning IP

Passive Incomes

High Margin Products – Low Development Costs

We don’t want to go into competition with Tesco or Wal-Mart – we are not interested in low margins or price wars

We want high margin products

Sell High Margin Products

Realise that Marketing Is the KeyNo enquiries means no orders. No orders means no money.No money means no business. No business means you’re out on the street!—Vince Stanzione

The reality is that marketing makes or breaks you. You must advertise, use press releases, direct mail, the internet and any other method that will effectively spread the word about your product or service.

Marketing & Sales should be your main focus – outsource the rest

How To Increase Your Sales Using Magic Words – The Power Of Copy-Writing

Writing an ad, sales e-mail, sales letter, or website is called copywriting.

Get the words right, and you’ll make a profit. Get them wrong, and you’ll fail miserably.

If you’re selling online, via eBay, Amazon, or Clickbank, you’ll have to write sales copy for their pages, too. When you list a video on YouTube, you also need a good title and compelling text.

Spend some time to learn and sharping up your copywriting skills

Put Customers First – Repeat Business

Realise that a one-off sale/order will not make you rich. It’s repeat business that counts.

Build up a relationship with customers. Be a friend, not a salesman

Earning Money

Improving Health

How To Make Money As… Be a – Avoid work and effort – Quick, Easy, Simple

Look Good – Feel Great – Weight loss – Grey £ over 50’s

Everyone is so “busy” these days

Feel Special, Wanted and Liked. Improving social status (social media)

What People are Buying – What Are they interested in?

Saving Time

Being Appreciated

Improving Appearance

Avoid Losing Money

People want to be fashionable

After making money most will be fearful of losing it. Security and comfort in old age

Relationships

Sports, travel, writing, painting, surfing, Hobbies

What People are Buying – What Are they interested in?

Attracting the opposite SexLeisure time – niche interests

Grey or Sliver pound now accounts for £320billion of consumer spending, £100billion more than nine years earlier. Over 50s accounted for 41 per cent of overall consumer spending

Selling to the over 50’s – BIG MONEY

The over 50s account for over half of UK household expenditure on health, recreation and culture, alcoholic beverages, restaurants and hotels. BIG travel spenders

Media continue to focus on 21 to 34 age group yet they have less money to spend

Over 50s account for 76% of UKs financial wealth

Who's spending most on Apple products?

Male 65+ are Apples biggest spenders

Kim Kardashian created a business of cleaning out her celebrity friends' closets and selling the goods on eBay, while taking a cut of the profit. Kardashian went by the eBay username "kimsaprincess," an account she started all the way back in 2002.You could start an Ebay business on a shoestring doing the same and run it on the side.

Before she was famous – BIG EBAY Seller

Buying & Selling on Ebay – Looking for under priced items and reselling

You Don’t Have to Know it AllYou can outsource most tasks, license products, buy resale rights, have someone else write a book for you, or research a product.Thanks to the global marketplace and sites like fiverr.com, elance.com, guru.com, almost any task can be outsourced at a reasonable price.

You can have a multi-national business with no staff thanks to outsourcing

Standing on the shoulders of giants

We do not need to compete with the giants, we should stand on their shoulders

Taken from a letter by Sir Isaac Newton to Robert Hooke, in which he describes how his work was built on the knowledge of those that had gone before him. “If I have seen further, it is by standing on the shoulders of giants.”

You can use platforms like WordPress, Youtube and Blogger to get your message out. You can sell your product on Amazon or Ebay and leverage on the back of their traffic. You can use pay per click adverts on Google, LinkedIn and Bing. You can use templates our outsource tasks using sites like fiverr.com

Use the 80/20 rule to get more done

80/20 rule can be used in all areas of your life

The Pareto principle (also known as the 80/20 rule, the law of the vital few, or the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes

80% of your business will come from 20% of your customers

Be Ready for ChangeOne thing in business is certain, and that is that there’s nothing certain in business! Things change, often very quickly. Today’s big seller is tomorrow’s totally unfashionable item (ask Blackberry). Keep your eyes open, watch out for new trends and markets.

Don’t be afraid of change - a small business can react quickly and profit from change

Start Your Own BusinessWhether it’s part-time to begin with, acting as an agent, or consulting to a few customers alongside your existing job, start your own business and be proud about what you do. You are not going to get rich working for someone else.

You don’t have to go all in…

Don’t Quit, Believe in YourselfStress, problems, new challenges, frustration, and let downs are part of everyday business life. If you hide away in a corner whenever something goes wrong, you won’t survive in business long. You’ll get knocked down. It happens and it’s acceptable.

The question is, do you keep bouncing back up again? You must bounce back, learn from your mistakes, and keep going. Stay on the ground for too long, and that’s where you’ll be forever. Get up, fight back, and you’ll be a winner.Everything is possible, and if you want something badly enough, you’ll get it.

Keep Moving Forward

www.themillionairedropout.com

Business Start-Up Show 18th November 2016

Available in print, kindle, ibooks and audio format