This is relevant to where this thread is going:
http://www.youtube.com/watch?v=RTveImPn0...re=related
"If you want success, stop PUSHING for it and start PULLING.
This in response to Pitt's point about networks, which I may admittedly not have elaborated on enough.
MJ Demarco, author The Millionaire Fastlane (highly recommended) says that he built his website, limos.com, and then he had venture capitalists lining up at his door AFTER he built it.
If he had approached them with an idea, they wouldn't have done squat.
I am in the same situation. I have a list of leads that I know, based on market inefficiencies, that would demand our product. This list of leads has been compiled from a network I've built within and outside of academia/industry, and through my partner's vast international experience in the field.
We know that there is a strong need in this niche market for this particular product, the barriers to entry are very high, and launching it will be cost effective.
However, we won't make a dime until we actually have executed on the many thousands of steps required for us to begin pulling in cash flow.
Once we've toiled and worked insanely hard to get our product suite up, then yes, the value proposition is immediately clear and there will be something tangible to sell.
Due to the network we have built up, we IMMEDIATELY will have access to people who trust us and will lock into long term contracts. Do you understand how the contacts/networks help?
It's not like some rich Chinese guy is handing me 100K a month just because I speak Mandarin and am buddies with his son. It doesn't work that way.
However, once everything is in place, having the right people in place to help you out or advise you, or even buy from you, or acquire your company, is priceless.
---
http://www.youtube.com/watch?v=RTveImPn0...re=related
"If you want success, stop PUSHING for it and start PULLING.
This in response to Pitt's point about networks, which I may admittedly not have elaborated on enough.
MJ Demarco, author The Millionaire Fastlane (highly recommended) says that he built his website, limos.com, and then he had venture capitalists lining up at his door AFTER he built it.
If he had approached them with an idea, they wouldn't have done squat.
I am in the same situation. I have a list of leads that I know, based on market inefficiencies, that would demand our product. This list of leads has been compiled from a network I've built within and outside of academia/industry, and through my partner's vast international experience in the field.
We know that there is a strong need in this niche market for this particular product, the barriers to entry are very high, and launching it will be cost effective.
However, we won't make a dime until we actually have executed on the many thousands of steps required for us to begin pulling in cash flow.
Once we've toiled and worked insanely hard to get our product suite up, then yes, the value proposition is immediately clear and there will be something tangible to sell.
Due to the network we have built up, we IMMEDIATELY will have access to people who trust us and will lock into long term contracts. Do you understand how the contacts/networks help?
It's not like some rich Chinese guy is handing me 100K a month just because I speak Mandarin and am buddies with his son. It doesn't work that way.
However, once everything is in place, having the right people in place to help you out or advise you, or even buy from you, or acquire your company, is priceless.
---