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Friday, February 27, 2009

Sort out pie-in-the-sky from true money making ideas

Let's look at how you can bring your money making ideas to fruition. Ideas for making money are never out of favor. However, today, just about all of us are trying to brainstorm and come up with money making ideas to increase our income. The trick is to sort out the wishful thinking ideas from the effective strategies that produce results.
Although there's nothing wrong with dreaming, you want to be sure that there's substance and a market need associated with your dream. For example, let's say your dream is to have your own jeweler's shop, stocked with your own creations. The problem is, you're broke and lack the capital to fund your shop. This money making idea is not viable, given your resources. While you may be the finest jeweler around, it's not going to fly.
On the other hand, perhaps you've come up with a design for a product which no one else is marketing and for which there's a need. You may well have found a new market niche that could pay off handsomely. Such a money making idea can fulfill your dream and generate income. If you've done your homework, studied the demographics and believe you have the means or talent to successfully market your product, this idea is realistic.
When you're in the brainstorming phase, put all your skills on the table. If you have extensive knowledge on a certain topic, consider writing booklets on that topic, designed to be informative and educational. You write the booklet once, but can sell it over and over again. All the effort is up front.

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