Money and Ideas
You know what? I was talking to a friend on Yahoo Instant Messenger (YIM) the other day. Let’s just call him Sam. I started the conversion. I just wanted to know about he’s doing with his book that he’s selling online.
Unlike many of us who has ebooks, Sam is actually selling physical books. He wrote a book about how to raise the fund to get married. And he’s selling it online. He actually went to the printer and printed his first 800 copies a few months back.
And recently when I was on YIM, I asked him how has it been. And he said, “I am about to order my second print now. I am down to 15 copies now.”
WOW … that was something. I always knew that physical products would hold more perceived value when sold online. And this guy did it.
But suddenly idea struck … !!
I asked him, “Have you ordered you second prints?”
“No”
“Great - I have a few ideas”
“What?”
“You’ve proven yourself with the 800 copies. Now is the time to make even more…”
“How?”
“Have you ever thought of selling advertising in your book? Your target are those who are getting married, right? Go ask wedding planners, make-up artists, photographers, caterers if they want to advertise in your book. And you’ll definitely cover your printing cost.”
“Errr …”
“Just give them a call and ask. If you are not going to do it, let me do it. Sell me the rights?”
“Errr …”
“$500?”
“No …”
“$800?”
“No …”
“$1000?”
“No … not selling. I will do it!”
Of course I was squeezing it when I offered to buy the resale rights. I don’t mind spending $1000 for the rights. I can easily get back my investment by selling the ad spaces in the books.
But he didn’t want to sell. So it’s he’s call. Maybe he was thinking about the competition that he’ll get from me. And maybe the fear that I’ll make more money with his book than he can.
It’s OK … but I think it motivated him to do something more.
I learn a few things myself here.
One - ideas come when you expand your mind and go out and meet people. Talk to people and see how others are doing. Many ideas may come your way when you think about how you can improve other people’s business. And at the same time, you can use those ideas for yourself too.
Two - Money don’t come from ideas. A good idea is one thing, acting on it is another. When you have a good idea, act on it fast. Because if you don’t, others will.
After that chat, other ideas started pouring in. Last year I wrote an ebook that I never published. And I think this is a great time to let that ebook out. And I may just sell ad spaces in them. If you are my subscriber, then you’ll may hear about this in the near future.
