How to turn that crazy idea into money
'In which Charlie meets a metaphysician... and
reveals two ways you can turn that great idea of
yours into a second income.'
Hi,
I got a fascinating email today from a guy who's found a
way of trading the markets.
He's plunged himself into the world of technical
analysis. This is where you study historical patterns in
the markets... and use them to predict where a stock is
headed.
"There is a 'metaphysical' essence to this," he writes.
"The pattern I've found is common in many stock charts
whose price level is preparing to rise."
So basically, he spots a buy signal on his charts and
leaps in for the kill.
He goes on...
"And I know... because for many years I used to be a
metaphysician!"
Brilliant. I can now count metaphysicians among my
super-smart readership.
The reason this metaphysician was writing to me was
because he had developed his own system. But he
wanted to know how to take it further.
It's a good point...
How do you go from having a private idea that works on
a personal level... to publishing it on a larger scale so
that you can also make a second income from telling
other people?
You might find my answer useful... whether you're into
trading systems, betting systems, Ebay trading, or
anything that makes money, really.
In fact, if you've got a good idea that works...
***************************************
Here are 3 ways to turn an idea into MONEY
***************************************
There are three basic ways to turn your money- making
system into a second income.
**** ROUTE # 1
You write down in roughly 15,000 - 25,000 words how
you developed your system, and how someone else
can follow it, step-by-step.
Show evidence of where and how you've made money
in the past. And include all your secrets, strategies,
shortcuts, charts, phone numbers, etc.
Don't worry about your writing skills. You don't have to
be Shakespeare. Just get the facts and figures down. A
publisher can clean it up and do the rest for you.
(If that's too daunting, hold on. In a moment I'll also
show you how to get someone ELSE to write it for you.)
You now approach a mail order publisher. Give them a
brief idea of the system and see if they're interested.
You must fully convince them that your system works or
they won't risk going ahead.
Then offer to do a deal where they can help edit, print
and push your manual to their customers as a one-off
product or part-work. In return they'll take a chunk of the
profits.
Be mindful that while they'll help sell it, you may need to
offer regular mail support too.
You can sell this for as little as £37 or as much as
£1,500, depending on the quality, detail, effectiveness,
and levels of support you can offer.
**** ROUTE #2
If you don't want to disclose your secret trading
methodology... but want people to benefit from your
idea all the same, here's a second option.
Instead of learning your system themselves, they can
follow your tips.
In this case, you develop a service where people sign
up and get a brief manual explaining the basics of your
system, but NOT the specific methodology.
You must then text/email your customers on a daily
basis with recommendations. You need to be on hand
at all times to answer queries, give sell orders and
basically manage their portfolio.
Beware.
This is VERY stressful and complicated and not for the
faint hearted. Essentially, you have to tell people when
to buy and when to sell, month after month.
Your reputation is on the line. And if things go wrong,
you get a lot of angry people asking for refunds.
Again, to do this, you must go to a reputable publisher
and pitch for a joint venture. In this case, you'd have to
slap a huge price on it (from £500 to £5,000!) because
it's a LOT of work.
You may also need to limit the intake to, say, 500
customers only. Otherwise your head will explode.
**** ROUTE # 3
Or, of course, if you want to be really independent, you
can miss out the middleman entirely!
In this case you need to write and produce a 'how to'
manual yourself, just as described in ROUTE # 1.
If this is too daunting, here's a tip: go to
http://www.elance.com.
Now you won't need to write a thing. Because this is a
website where people pitch for professional writers to
create their articles, books and website content for
them.
The writers then bid for the job and get paid to get the
copy back to you on brief and on time.
If you're going it alone, you will also need to create a
powerful sales promotion. As you no doubt know, by
now, it's "hard-sell" long copy that works.
So if you're confident as a copywriter, go for it. Or you'll
need to pay a professional.
After this, you'll still need to sort the printing, stocking,
and mailing of your manual. And remember, if you do
this independently, you've got to make sure you have a
payment system to receive money.
Perhaps think of creating an e-book instead, which
saves a lot of that administrative hassle.
Another tip. If you want to get a professional service to
create a website and payment facility for your product,
go to:
http://www.mrsite.com
or
http://www.123reg.co.uk
For a small payment these companies will sort it all out
for you. Even if you're a complete technophobe like me.
***********************
Now you're self published!
***********************
Once you have a completed manual, and an online
sales page, with payment facility, you can offer it to
people who are happy enough to sell it on commission
Again, this is why you must convince - or even SHOW -
publishers that your product really works.
Dodgy outfits may take it on, but you could have a
bumpy ride and a short career!
For my money, the best UK publishers you can go to
are Agora Lifestyles Ltd, Fleet Street Publications,
Canonbury Publishing, Oxfordshire Press and
Streetwise Publishing.
I think joint ventures are the best way for a novice to go.
But you MUST have your product and potential market
sorted first before anyone will take it seriously enough
to progress further.
Hope this helps.
By the way, if you're into trading systems, check out the
left hand side of my site for the best and worst of the
current crop.
Later Alligator,
Charlie Wright
NOTE FROM CHARLIE: I'm not actually here this
weekend. I'm away on vital, important biz opp
business. This in no way involved me going to
Amsterdam on someone's stag weekend. It's
nothing to do with that. It's IMPORTANT biz opp
business. That's all I'm saying. In the meantime,
here's a classic from the ancient archives...
revealing 3 ways to turn an idea into money.
Today's Adventure in the Biz Opp Jungle
How to turn that crazy idea into money