Comments on: How to get Rich in Three Steps http://stephenwoods.net/wordpress/2007/09/29/how-to-get-rich-in-three-steps/ Wherein I discuss whatever Tue, 02 Dec 2008 12:53:19 +0000 http://wordpress.org/?v=2.6.2 By: admin http://stephenwoods.net/wordpress/2007/09/29/how-to-get-rich-in-three-steps/#comment-13 admin Sun, 30 Sep 2007 02:39:56 +0000 http://stephenwoods.net/wordpress/2007/09/29/how-to-get-rich-in-three-steps/#comment-13 Good point. The product option is important too. I think I had that before and erased it. The trick to products is that the must be much less expensive to produce than they sell for. Its all about low marginal cost, which is why digital products, like software, are such a good way to get rich. Good point. The product option is important too. I think I had that before and erased it. The trick to products is that the must be much less expensive to produce than they sell for. Its all about low marginal cost, which is why digital products, like software, are such a good way to get rich.

]]> By: sfo http://stephenwoods.net/wordpress/2007/09/29/how-to-get-rich-in-three-steps/#comment-12 sfo Sun, 30 Sep 2007 01:40:01 +0000 http://stephenwoods.net/wordpress/2007/09/29/how-to-get-rich-in-three-steps/#comment-12 hmm... what about step 4? -Section IV- If all else fails, develop a product. Services are not scalable at a high enough rate of return (see also: "Do not practice a trade".) Instead you need a product that you can sell the shit out of. Sometimes it helps to advertise this product. Sometimes it helps to have late night infomercials. Either way you need to be able to sell several million copies of whatever the product is. Bonus points are given for selling a digital product because these items are very scalable. hmm… what about step 4?

-Section IV-
If all else fails, develop a product. Services are not scalable at a high enough rate of return (see also: “Do not practice a trade”.) Instead you need a product that you can sell the shit out of. Sometimes it helps to advertise this product. Sometimes it helps to have late night infomercials. Either way you need to be able to sell several million copies of whatever the product is. Bonus points are given for selling a digital product because these items are very scalable.

]]>