I don’t usually open new thread on the forums… But I came across a few ideas that might make somebody here on DP a bit of extra cash, so I figured I would share them. So get this: I’m currently reading “How to think like a billionaire†by Donald Trump. Now, I disagree with many precepts in the book so I can’t call it very good… but finding English language business books as I backpack across northern Peru hasn’t exactly been easy. Even a book by The Donald is an absolute godsend at this point. Anyways, most of you probably know the guy made most of his cash in real estate and casinos and real estate investing serves as the core for the book. The first section, which is about how to think about real estate, is stuffed with ideas and strategies that struck me as easily applicable to Internet ventures. Here are two that struck me as the easiest to apply to making money online: Tip #1: Location, Location, Location A common adage in real estate, Trump trumpets this as a key to being a successful investor. It only makes sense after all. Selling igloos in Egypt probably wouldn’t work out so well. Dumping money into the wrong area is the quickest way to go for broke in the real estate game. How does this relate to your online business? Two words: market research. I started making money online by chasing pennies in a niche that was way too small and not all that interested in buying stuff. Sure, I made a few bucks but not nearly as much as so many other guys in the business. They aren’t any smarter … the difference is their efforts are in a better location. There’s much more profit in building out projects in niches of bigger, cash heavy markets than to try to scratch a living out of semi-interested tight wads. Of course keyword research is a part of doing your market research. Spending countless hours building article marketing campaigns around keywords that don’t convert is a fast way to get burned out. Not that I have any experience around that. There’s a reason certain keywords cost a fortune; they convert like crazy. It took me a long time to learn to think in terms of conversion rates, not CPC. You would be well served to do the same. Tip #2: Pick a location that’s close to your home The “guru’s†always say to go into a market that you have a passion for. But what do those bums know? At least that’s the way I thought before, unfortunately. My bank roll/G Stack/bank account would be much fatter today if I just to their advice out the gate. Instead I kept listening to my AM and building half-baked projects around whatever she said was a “hot nicheâ€. After a few weeks and the imminent burnout that’s guaranteed to follow, my bank account would be pretty much the same and I’d have yet another domain collecting dust. These days, I’m building sites around things I actually care about, but that also have a cash-spending market. Close to home, so to speak. My mentality these days is to build up cash flow and then to sell into other niches by outsourcing out the uninspiring work (i.e. content creation.) So, that’s it. I gotta Corona with my name on it, and this post is already much longer than my patented 3 word posts. Hope you can wring some cash out of it. Later – John G.
I have learnt from Donald Trump that being rich does always make you attractive looking or add style Whats with the huge hair combover thing - its like a mole on someones face you just stare at it and not listen to what they are saying. Would it kill him to respend some of his billions on some decent looking hair please LOL
Some people when they got too much money, retire. For example Bill Gates. And some people wanna become famous, like Donald Trump
You have missed the most important thing is having the initial capital is important thing. If you have both 2 criteria you mention, but you don't have the capital then it will also become useless.
LOL. Well, the combover seems to be working if his long list of wives is any indication. I've been thinking about breaking out the combover myself... apparently chicks dig it. Next article: What I learned from Donald Trump about getting girls.
TOTALLY agree. I could probably think of one great idea per day that will never see the light because I don't have $2 million to invest in the development fees for it.
He sure is great at his craft... and getting more rich everyday to boot! However I didn't know he'd once been bankrupt. When was this if you don't mind me asking?
Bill Gates isn't retired as such and Donald is a press hungry, self absorbed idiot, no matter how much money he has/had.