C07 - Income Strategies

The top executives of a company and consultants gathered in the board room to discuss strategies to improve income. There was a glass of water on the table in the board room and only half of it was full. An optimistic marketing director exclaimed, "It's half full." A pessimistic human resources director complained, "It's half empty."

A management consultant conducted a quick mental survey, prepared a beautiful presentation on his notebook computer and thundered, "The glass has the capacity to double its present performance."

And he was immediately hired.

The consultant was not ignorant. He looked at the problem that was before him, with an uncommon attitude. That is the third way of looking at a problem. That's the perfect method to find out opportunities and make money.

The income opportunities are everywhere - above you, below you, left to you, right to you, in front of you, behind you, under your nose and under your feet. An atmosphere of opportunities is like air. So, we don't think of it. It's so natural that we ignore it. Your simple look with a different attitude towards these opportunities has the power to unlock the floodgates of prosperity.

An important step in our journey to the peak of prosperity is to identify opportunities. So, Ken has included more than fifty income strategies in this chapter. You will use these strategies to identify income opportunities or develop business concepts. The strategies may appear to be repetitive. However, each strategy is different.

All the strategies can be summarized in one single sentence. Become conscious. This is the basic principle behind these strategies. But, the basic principle is too broad to the understanding of our mind and we find it difficult to apply it to real life situations. So, these strategies have been developed and examples have been given. They try to give flexibility to your fixed, rigid and habitual way of looking at everything. When you work on these ideas, you will bend, stretch and pull your mind in all directions so that you will break your self-created limits.

Each strategy has been illustrated by an example from a common real life situation you are already familiar with.

Many of these strategies have been applied by millions of successful people in their lives to make money. For example, the strategies What People Want and What People Don't Want are the official strategies of the mighty General Motors. Every successful business in this world follows these two strategies consciously or unconsciously.

Some strategies are new to the world. Yet, they have the power to change your financial life from negative to positive. For example, 'Pitch darkness is an appearance of dense light' is a new idea. 'The worst problem is an appearance of the best opportunity' is a derivative of this new idea.

You can use these strategies in two ways. You can read them thoroughly now, understand and then proceed to the next chapters. As you go on, you will keep using these strategies to generate business ideas.

Or, you can read them once now to have a general idea and move on to next chapters. When you do the exercises in the later chapters to bring out your hidden skills, you will know the areas where you can shine. At that time, you can come back to this chapter and use these strategies to generate income ideas.

Either way, you will be a winner.

From this moment onwards start using a note book. Write down whatever idea that pops on your head. Don't dismiss anything as silly or throw away as useless. Nothing is silly or wasteful. Everything has a meaning.

First, let us generate as many ideas as possible. Then we will identify the most profitable and practical ideas from the pool of wonderful self-employment concepts using the ideas from other chapters.

These strategies are too general to come up with a specific idea now. In a later chapter, you will understand about your interests in detail. At that time, you will apply these general strategies on the areas of your interest and come up with specific business ideas.

Income Strategy #01
What People Want
This is a common and basic business principle. Almost all businesses make money with this strategy. Your product or service must give people what they want to have or help them get what they want to have. For example, when you want to open a cool drink shop, factors like location, ambience, parking and convenience are important but only secondary. The single most important factor is the need of the customers. If the people in your area are dying out of thirst, you have a great business. If not, the best location and magnificent ambience won't do any good to you.

People want to have money, happiness, security, friends, power, entertainment, food, clean water, peace, good health, welfare of their family, popularity and similar positive things. If your product or service can deliver them abundantly, you will be a winner.

If you are not be able to supply directly what they want. Then help them get it. For example, if you are a career consultant, you may not able to give work to freelancers. You can build a website that will link freelancers and employers and take referral or subscription fees from them.

Income Strategy #02
What People Don't Want
People don't want problems, losses and negative things in life. Find out what people don't want to have. Your product or service must remove from people what they don't want to have or help them get rid of what they don't want to have. For example, people don't want garbage in front of their house. If you can clear them or run a service to find out cleaners, you have a business.

People don't want debts, enemies, weakness, trouble, poverty, worries, disease, and similar negative things. If your product or service can eliminate them from your customer's life, you will be a winner. Many things break at home and people don't want them to happen. If you are a handyman, you can fix them. If you are not, you can run a network of handymen like electrician and plumber and help people.

Before starting any business, you must evaluate it against the above two strategies.

Income Strategy #03
Multiple Forms
Do you know that one content can be rendered into many forms and you can make money? Find out ways to create many forms with one content. It is easy to do and you can create many income streams quickly. Every business is a form that represents some content. If you see a successful business try to understand the content. Render it in different forms. You will start making money in no time.

For example, a book on fairy tales can be converted into a website, a software, an eBook, a game, a toy, a radio drama or a cartoon show. The game can be rendered into card game, board game or video game. The cartoon show can be rendered into television show, video tape, compact disc, flash show, streaming video and video on demand. The toy can be converted into plastic toy, metal toy, soft toy and action toy. You can create posters, screen savers, stickers, labels and tattoos. You can lease the theme for use on school bags, boxes, chocolate tins and pencils. You can create forms online, offline, with computer and without computer. There is no end to the possibilities of creation of forms from one content, in this case a simple fairy tale.

Income Strategy #04
Split Content
Splitting the basic content into two or more will give you profitable business ideas. Find out whether the master content can be split or divided without losing value. You can keep on dividing it into as many levels, both horizontally and vertically, as you like. We are not talking about creation of forms. Take the book form of the epic Mahabharata. It has hundreds of themes. All themes, like Savitri, Nala and Gita, are part of the grand epic. Even if you separate the story of Savitri from the main story, the story of Savitri is still a complete story on its own. Neither the main story nor the story of Savitri is affected by the split. You can split the content into as many levels as you like. Yet the form - in this case it is book - is the same. After splitting the main content, you can render each split content into as many forms as you like as described in strategy #3.

The creation of many forms and splitting of content are powerful strategies. You can create hundreds of income opportunities quickly and easily. The basic content can be anything that is useful. It can be a scientific idea, an epic or a spiritual book.

Income Strategy #05
Unlimited Benefits
By making small changes you will be able to give unlimited benefits instead of limited benefits to your customers in many situations. Find out ways to convert limited benefits into unlimited benefits and you will have a great business.

For example, a few years ago all internet service providers charged $25 a month for 50 hours, limited number of hours, of internet connection. Then a big company offered unlimited number of surfing hours for $40 a month. Though the monthly expenditure would go up by $15, 60% of the customers opted for the unlimited option and competitors lost 40% of their customers to this company.

Income Strategy #06
Limited Problems
Sometimes, it would be difficult to eliminate problems completely. Can you at least reduce the intensity or quantity of the problems? Find ways to convert unlimited problems into limited problems and you will have an income opportunity. For example, if there are houses near to rails, people suffer from noise pollution from noisy electric trains. The problem can not be eliminated fully. Trains must run whether the residents like it or not. You can't avoid it. Can you provide low cost noise-proof doors and windows that can filter the noise considerably?

Income Strategy #07
Opportunities Behind Opportunity
As everything is interconnected , if you see a business opportunity, investigate all business ideas connected with it, above it and behind it. You will end up with a series of high income opportunities. For example, when a school boy asks you to teach chess, find out whether you can teach chess to adults. Can you form a chess club? Can you sell chess gear? Can you teach other indoor games and outdoor games?

Income Strategy #08
Opportunity Behind Problem
If you see a problem, see it as an opportunity in disguise. Think what can solve the problem. Or cook up a positive idea from the problem. Every problem has a solution. Every solution is an income opportunity. For example, if there is severe water problem in your area, can you buy a water tanker on hire purchase and supply water and make money? If there is frequent power cuts in your area, can you sell inverters or generators and make money?
You son is weak in mathematics. You decide to teach him mathematics for an hour every evening. Instead of teaching him alone, can you teach other children also at the same time and earn tuition fees?

Income Strategy #09
Highest Opportunity
When you see a business opportunity, take it as the lowest level and find out the highest opportunity associated with it. Think whether you can do something about achieving the highest opportunity. Don't be discouraged by impossibility factor. Think wild. For example, if you see an opportunity to become a dealer in computer, think whether you can become a manufacturer of computer. If that is not possible, can you become at least a national level or state level wholesale distributor? All Amazons and Ganges spring up from small openings on the ground.

Income Strategy #10
Accept Opposite Idea
Do you know the opposite idea of any idea can also be true? If you can find out the opposite idea of a popular idea, you will have an income opportunity. For example, Smacking is the best method to discipline a child is a popular idea. We can discipline a child without smacking is an opposite idea. If you find out a method to achieve this idea, you can conduct seminars to educate mothers or camps to correct disobedient children and make money. You can write a book on the subject or create a training video.

Income Strategy #11
Cure Ignorance
Many people don't know that they are entitled to certain rights, benefits and privileges. If you can identify such common ignorance, you can make money by helping the ignorant people. For example, recent government policy requires all banks to give educational loans without security to good students for higher education. If you learn all the bank procedures and the rights of the students, you will find an income opportunity.

Income Strategy #12
Success From Success
If you see a successful business in your area, find out the reasons for success. Think whether you can start a similar business. Don't make any changes. Just replicate the successful business. For example, if someone sells agarbathis through internet successfully, using exactly the same methods, can you create a successful online agarbathi business? Distribution in many cases is not difficult because there are hundreds of dropshippers. They hold your stock in their warehouses and ship your product as and when required according to your directions to any part of the world for fees.

Income Strategy #13
Success From Failure
If you see a failed business in your area, find out the cause of failure. Think whether you can start a similar business and make it a success by removing the causes for the failure. For example, in the past, movies on Titanic were made twice at huge investment. Both were megaflops. James Cameroon thought the reason for failure was the focus on ship and the theme was mishap. So, he made his Titanic differently. His theme was romance. He focussed on Rose and Jack and the human side of their immortal love. The ship and the mishap was only a background and an event in their love story. His version of Titanic earned the highest collection ever in the movie industry.

Income Strategy #14
Overdeliver Benefits
People are happy to come back to you, if you give them more than they need for the same price. Find out ways to exceed the expectations of people by overdelivering benefits and advantages. This will create a great image about your business and it will be easy to sell other products to them. The satisfied customers will be a great sources of referrals.

For example, Simon bought a small book priced at $25 and was disappointed with it. He wrote a book of 760 pages, built a website and advertised to sell the eBook for $19. When his customers placed orders, he gave them the eBook and also two other useful eBooks that were not part of the deal. All the customers were happy with the unexpected useful bonus. In the first year of the business, Simon sold 2,000 copies.

In the second year, he introduced a new product and sent a circular to his past customers. All the 2,000 happy customers bought the new product within a week. He earned one year's income in one week. He exceeded their expectation the second time also by overdelivering two infoProducts and a small software.

This strategy is different from strategy #5. Here, you surprise your customer by overdelivery of benefits that is not a part of the deal.

Income Strategy #15
Underdeliver Problems
Some products bring disadvantages along with benefits. People are aware of the problems that they will face. Find out ways to exceed the expectations of people by underdelivering problems and disadvantages.

For example, People who buy eBook from Jack know that onscreen reading is pain. Yet, they buy it because it is useful. They receive the eBook in different formats like Acrobat and Word. They can use any format they like. They receive a coupon that they can use to get the entire eBook printed at a substantial discount from a printer who has shops all over the United States. The existing customers will buy whatever eBooks Jack publishes because they know Jack will underdeliver problems associated with eBooks.

This strategy is different from strategy #6. Here, you surprise your customer by underdelivery of problems that is not a part of the deal.

Income Strategy #16
Growth Sidekickers
A growth disturbs present equilibrium and balance of things. Actually, the growth is the result of such disturbances. There will be many problems wherever and whenever there is a growth. Study every growth carefully to find out income opportunities.

For example, growth in automobile market leads to air pollution and noise pollution. Can you provide a service or product to solve them and make money?

Growth in the number of mobile phone users creates bill collection problem for phone companies. Can you work as a collection agent?

Income Strategy #17
Other Sidekickers
Many things happen around us that we can not call growth. They may also offer opportunities. Natural disasters and man made catastrophes take place now and then, even though we don't want them to happen. Around each disaster there will be hundreds of income opportunities because whatever has been destroyed must be rebuilt.

For example, hundreds of small software and process outsourcing companies do not have business. Using their resources, can you do business in partnership?

Income Strategy #18
Reverse Action
For centuries, professionals and businesspersons have made small clients come to their place. Can you reverse it? Is it possible for you to go to or make a professional go to the customer's place and provide the required service?

For example, many patients need regular medical checkups for blood pressure and sugar. Can you tie up with a licensed nurse and visit the customer's house to provide this service on a regular basis?

Income Strategy #19
International Copycat
If a business concept is successful in another country, you can modify it to suit the local needs and introduce it in your country and make money.

For example, call taxi facility has been in existence in developed countries for decades. Only a few years ago it was introduced in Chennai. It has become successful and popular.

Income Strategy #20
Regional Copycat
Different regions have different business models. Think about introducing a successful business in one region to another region to make money. For example, Ken saw shared auto facility in a Kerala town in 1991. This business model was introduced in Chennai only four years ago and has become successful. An auto for single passenger is expensive. So, motorcycles are used in Goa. It can be introduced in other parts of the country to provide thousands of self-employment opportunities.

Income Strategy #21
Rural Copycat
Many business activities in rural areas are carried out without the cosmopolitan complexities. If you can combine such simplicity with a city business you will find an income opportunity. For example, because of lack of infrastructure and high cost of establishment, restaurants are run on pavements in villages. Customers would stand, hold dishes in hand and eat. A few years ago, the author's client started a similar handheld restaurant - Kaiyenthi Bhavan - in a posh area in Chennai. Immediately it was a hit and many rich people became regular customers. Now, there are many such restaurants in Chennai.

Income Strategy #22
City Copycat
If you eliminate the complexities and complications from a city business, you can start a profitable business in a small town or rural area. For example, internet cafe was introduced in Chennai seven years ago. After eliminating coffee, snacks, air conditioners and high end ambience, it was successfully introduced in small towns.

Internet browsing centers in cities and towns have expensive broadband connections. So, low cost dial up internet centers can be introduced in rural areas.

Income Strategy #23
Make It Available
People know that certain things are useful. However, they learn to live without them either because they can't do it or don't find someone who sell it. If you can identify such opportunities, you can make money. For example, business planning is an important activity. In our country, all companies prepare business plans to get loans or to meet legal requirements. Some big companies do it. Small companies never do it. You can prepare business plans using software like Palo Alto Business Plan Pro for fees.

Income Strategy #24
Decision Making
Whether it is a million dollar business or buying a new saree, decision making is always difficult. Can you run a service or create a product that can help people in making decision? If you create a workbook, software or website to do it, you will make money. You need to take input or data from clients, process the data and give advice to the clients on the different course of action. For example, there are shopping helpers in Auckland. If you ask them over telephone for guidance about a gift to your mother, they will ask you a few questions and based on your response they will give you a few ideas and also the places to buy. They will give you a number that will get you a big discount. The shopping helper will get commission from the shop based on the number that you used to get discount.

There are many intelligent websites that help you make a decision. The website will ask you a series of questions. Based on your response, they will tell you how to proceed.

Income Strategy #25
Atmosphere Of Country
Like human beings, every country has an atmosphere and plays a role in the world. If you can create a business idea that is in harmony with the atmosphere of the country where you live in, you can make money. For example, the entire world knows India has spiritual knowledge. If you create a software to teach about Indian spirituality or a product that will promote it, you can make money.

Income Strategy #26
National Resources
Every nation has unique skills, knowledge and talent. By the simple fact that you are a citizen of the nation and live in it, you can make money by using those national resources.

For example, India has huge population. The cost of labor is low. If you actively secure labor intensive work from developed countries and execute the order in India with Indian workforce, you will make money. Germany produces high quality medical instruments. If you live in Germany, you must think about all businesses connected with medical instruments.

Income Strategy #27
Hereditary Resources
We think our genes carry the physical attributes of our ancestors. It is quite possible that these genes carry our forefather's knowledge, talents and skills also. You can convert one of these skills into an income opportunity.

For example, if your father had a passion for stamp collection, you may be successful if you create a portal website on philately. Do your homework and jump on it. You will be surprised how easy and natural it is.

Income Strategy #28
Community Resources
In the old world, certain communities specialized in certain activities. Find out the type of activities your community members carried on in the past or still do. Have a chat with the elders in your community and discover multiple income opportunities. If you realize some members were actively involved in negative activities, find out the opposite positive aspects and concentrate on them. You will make money.

For example, if your community specialized in weaving for centuries, then prepare an exhaustive list of opportunities related with textiles.

Income Strategy #29
Personal Resources
If an activity you carry on is in harmony with your nature, interest, personality or character, it will be a great success. Your personal resources include your experience, education and hobbies.

For example, if you are a Lawyer but not in practice, you can still use your knowledge to run a business of automating legal documents creation process and make money. You can do it better than most others.

Income Strategy #30
Social Skills
Over time, we acquire many social skills because of our constant interaction with friends, relatives and other members of the society. These skills can be converted into a saleable product or service.

For example, if you know etiquettes including dining table skills like using the knife, fork and spoon, you can teach them to those who go abroad or to kids. You will be surprised to know how many people are willing to pay for your social skills. Ken wanted to teach his daughter these skills as she had forgotten them. He could not find anyone who could teach her the skills.

Income Strategy #31
Develop Similar Idea
Do you know ideas similar to a successful idea will also be successful? Find out a successful idea and think of its variations without deviating from the core concept. This will generate high income stream. This is different from exact replication of a successful idea. For example, your brother-in-law finds jobs for Indian doctors in the United States and makes money. Why don't you find jobs for nurses, lawyers and engineers? Or why don't you find jobs for doctors in Canada or the United Kingdom?

Income Strategy #32
Combine Similar Ideas
Do you know you can combine two similar ideas to create a new profitable business idea? Without deviating from the main concept, change the variables. You will have many new business opportunities based on the same business model. In the above case, you can decide to send nurses, instead of doctors, to the United Kingdom, instead of the United States. Or you can decide to send nurses and dentists to Australia and New Zealand. We don't want to send all professionals to all countries. Why? We can't do everything. We must find out our niche and stick to it.

Income Strategy #33
Reverse Idea
If you can reverse the main concept of a successful idea, you can generate income. We are not talking about opposites and contradictions. The differences are thin and subtle. But, you must know them.

For examples, Indian doctors want to go to the United States. Your friend helps them to get jobs. The doctors who have gone to the United States years ago, may like to come back to India. Help them and make money.

In this case, the opposite will be Indian doctors don't want to go to the United States. The doctors we want to help can not be categorized so because they are already in the United States. The contrary idea is the Indian doctors want to go to Canada. You can't say that one who goes to Canada does not want to go to the United States. The differences are thin.

Income Strategy #34
Combine Opposites
Every idea has an opposite idea. If you combine the opposites, you will have an income opportunity.

For example, old and new, far and near, small and big and fast and slow are opposites. The author has given examples for such ideas in the following pages.

Income Strategy #35
Old And New
Old things have certain advantages and new things have certain advantages. If you can combine an old system, method or product with a new system, method or product, you will find an income opportunity. New does not mean computer and internet only.

For example, Marwan Aridi combines Victorian Art with the software Adobe Illustrator and makes money. Can you combine Indian arts with Illustrator or Flash?

Finding brides and bridegrooms by exchanging birth and personal information through marriage brokers is an old custom in India. Website is a new technology. Someone has built a website where brides and bridegrooms can post their personal details and search for suitable match. The website makes money from subscription fees and advertisement.

Income Strategy #36
Computer And Man
Almost all software tools are fast, systematic, tireless and flawless in processing information. All manual activities are slow, tiresome, unorganized and prone to errors. Find out whether you can automate a manual process by combining it with computer. In this area, there are hundreds of opportunities. For example, if you start work at 9 AM in the morning, connect to internet, download emails, print all the emails and shut down the computer, you can do all these processes through an automation software. You don't even have to go to your office. You can make money by automating small offices. If you give thoughtful and careful attention to combining a manual process with a computer, you will generate dozens of income opportunities.

Income Strategy #37
High Tech And low Tech
There are many simple manual processes that can not be automated. However the problems related to the processes can be eliminated by technology. Can you think of such processes and make money? This strategy is different from the previous one. For example, in a big library in London, thousands of books were frequently kept in wrong cabinets. Finding books and organizing them are important but tedious activities. A small company creates a simple electronic chip and fixes it on books. Each book cabinet has a sensor. If wrong books are placed in wrong shelf, alarm will be raised. The user must place the right book at the right place.

Income Strategy #38
Near And Far
Distance is an obstacle for many businesses. If you can deliver the same benefits of a distant place from a place near to the customers, you will make money.

For example, PLAB is a professional entrance examination for doctors in London. Many of the candidates are from India, Sri Lanka and Pakistan. So, the PLAB organization conducts part of the exam in India without reducing the fees. The number of candidates have gone up considerably.

Many international universities offer their courses in India by having an affiliate here. You get the same certificate that you would get by staying and studying in overseas, by staying and studying locally.

Income Strategy #39
Customizing Services
If a product or service is standardized and aimed at mass market, try to find out whether you can offer customizing services and make money.

For example, an accounting software like EX is a standardized, mass marketed product. The software comes with facility for customizing forms. However, many businesspersons find it difficult to modify the software to suit their needs. Can you customize it?

Income Strategy #40
Standardization
If a product or service is sold on one-to-one basis, find out whether you can standardize it. If you do it, you can take it to mass market and make big money.

For example, tax preparation service is generally on individual basis. However, thousands of employees of many big corporations usually, have the same salary structure. Only the figures vary. Can you create an excel template or a small software to prepare tax statements?

Income Strategy #41
Cleanliness
While all businesses must ensure cleanliness, it is very important for certain businesses like restaurants and hotels. Can you make a business more profitable by increasing cleanliness or reducing dirt? If you can, you will make money.

Ten years ago, cleanliness could be found only in star hotels. Someone introduced it into middle class hotels in Chennai and took it to the extreme. People believe that this chain of hotels makes a profit of Rs.25 lakhs net cash profit, not sales, every day, not every month. Now many middle class hotels in Chennai try to imitate this cleanliness.

Income Strategy #42
Regularity
Can you introduce an element of regularity in the benefits that customer receive? If you can replace irregularity with regularity, you have an income opportunity.

For example, if your newspaper delivery boy is irregular or late in delivering newspapers and magazines, all the customers in your area to whom this boy delivers papers, would be unhappy. Can you employ three or four boys, train them up and run a successful newspaper delivery business?

Income Strategy #43
Freebie Money
Irrespective of social and financial status, people like to have freebies. Can you give people something free and make them buy a related product?

For example, a webmaster created a beautiful eBook on eCommerce and internet business. He gave the eBook for free, while other competitors charged $25 for a similar eBook. However, many people who started eCommerce business after reading his eBook, bought products like webhosting, authoring tool and search engine software he recommended in his eBook. The webmaster either manufactured the products or was a reseller of the products. Internet offers many opportunities to offer something free to the prospects and then sell something related to the freebies.

Income Strategy #44
Emotional Money
Emotions for family, community, language and country are powerful. If you can develop a product or service that appeals to their feelings and emotions, you will make money.

For example, when a certain community members organized a series of agitations and meetings to uphold their rights in Australia, an entrepreneur created toys, tapestries, pictures and gift articles based on their culture and made big money.

Income Strategy #45
Romantic Money
It is an evergreen subject. All are attracted by romance. If you can build some romantic factor into your product or service, you can make money. Romance is not just about physical attraction between opposite sex. Products that appeal directly to physical attraction will kill the opportunity. Your appeal to romantic factor must be elegant, refined and subtle.

For example, a website offered online dating service in 1998 and was able to bring in millions of visitors within a few months. They visited the site out of curiosity though 97% of them didn't use online dating services. However, the company made huge money by advertisement and selling romantic products. If the website said, 'Our research reveals that girls are fascinated by Venus Rolex wrist watches,' and placed a small ad for the Venus Rolex wrist watch, those who came out of curiosity immediately ordered the wrist watches for their wives and girl friends.

Income Strategy #46
Smaller Version
A big business serving thousands of customers with many branches and products can have a smaller version with target niche market and niche products. Take a big successful company in your area and find out ways to run it as a one person business.

For example, copy centers in cities have multiple copiers, scanners and printers to serve heavy crowd. In rural areas, you can have one three-in-one machine that serves as a copier, scanner and printer and carry on business without heavy investment.

Income Strategy #47
Bigger Version
Successful businesses in villages and towns are small because of low population. Cities have huge population and sophisticated scalable infrastructure. Think about creating bigger version of these businesses and taking them to cities. Small, unorganized flea markets are conducted in rural areas every week on a fixed day. Anyone from the village can come and sell and anyone can buy. You can organize bigger flea markets in cities. Flea markets are different from trade shows like computer fair.

Income Strategy #48
Status Symbol
Certain products and services are perceived to be the symbols of social status. If you can identify such products and services, you can make money.

Status symbol, fashion and peer pressure mean different things. Status symbol is relevant to a close circle of friends and relatives. Usually, the status symbol product is of high value. Utility value takes back seat.

What is a useful product to you can be a status symbol for others. For example, for a travelling consultant a notebook computer is a useful work tool. For a businessperson who doesn't know to use computer, a notebook computer is a pure status symbol.

Income Strategy #49
Peer Pressure
People buy many products or services just because their friends and neighbors have them. If you can identify such peer pressure products or services, you can make money. A product of peer pressure may or may not reflect fashion or status. For example, children buy PokeMon tattoos just because their classmates have them. Parents are made to buy PokeMon goodies. This product may or may not have any use. It may be of high or low value. For example, arranging dolls, icons and toys on a certain festival day is popular in India. Many people do it as a social custom. Some people do it on peer pressure.

Income Strategy #50
Fashion
Make a list of products that are influenced by fashion factor. Then find out the products that reflect the current fashion and deal in them to make money. Fashion covers a wide section of the society that includes known and unknown people. Wearing long shorts instead of dhotis is a fashion among youngsters. The way a movie star dresses in the latest movie creates a new fashion among her fans.

Income Strategy #51
Hobbies
All of us enjoy hobbies because we do those activities for fun. We do them on our own without compulsion as we have passion for them. Find out the ways to package your knowledge about your hobbies and sell it.

For example, if your hobby is collecting letters and signatures of famous people, your box would be full of such papers. You can open an eBay auction site to sell them. You can help others also to sell through you and make money.

Income Strategy #52
Sports
Satellite Television Channels and internet have created wide spread awareness about sports. If you are good in games, indoor or outdoor, you can teach them to children and adults. For example, an engineering student in Pondicherry teaches chess to primary school children in week ends and earns his educational expenses. Another student teaches table tennis in the mornings.

Income Strategy #53
Arts
Experts say there are sixty four types of arts. If you make permutations and combinations out of them, you will get hundreds of new forms of art. People know only a few common arts like classical dance. You can find out ways to teach other arts or to sell the arts after converting them into marketable forms. For example, doing many things at the same time like ashtavathanam is an art and a science. You can learn it in a few weeks and teach it to business persons and school children.

Income Strategy #54
Time
Time is our most precious resource. Can you think of ways to influence time factor in a business? You can combine time with other important resources to speed up processes. Or just teach time management skills.

For example, a young man in the United States learnt well to use ACT!, a time organizer. He wrote a manual for professionals on how to save time. Then, he created an audio book, Then, he started a time consulting firm. He conducts seminars on time management.

Income Strategy #55
Space
Can you save valuable space by providing a product or service? If you do, you will make money. For example, in offices, privacy to employees increases production. But, that needs more space, which means more expenses. Someone designed cubicle partitioning. It provided privacy, yet used the same space more intelligently.

Income Strategy #56
Franchise
A person with special knowledge or skills can standardize and document all the business processes, requirements and know-how and bundle it with the tools and resources required to run a successful business. Then, he can sell the package, or the franchise opportunity, to the franchisees. The franchisee gets trained by the seller and receives ongoing support. Every skill and knowledge can be converted into a franchise opportunity. In other words, it offers infinite number of opportunities in all fields.

For example, if you know a special technique to teach Mathematics to children, transferring the skills to the mothers will give you a mediocre income. Instead, if you create a franchise opportunity, people will buy it to make money through the franchise. You get a lump sum as franchise fees. The franchisee will do the marketing to promote his interests. Whenever he gets a client, he will sell your materials. This gives you an ongoing income. However, you must be able to give complete solution and excellent support.

Income Strategy #57
Important Days
For every country, certain days are important. It can be the independence day, birth day of a leader or a festival day. They are recurring short term opportunities. If your product relates to these days, you will make money year after year.

For example, sale of crackers for deepavali in India gives a short term income opportunity.

Income Strategy #58
Important Events
An event that is important to the country or world can generate income opportunities. However, these opportunities will not be long term opportunities. Can you provide a service or product that relates to that important event?

For example, if Olympics is held in your city, the number of income opportunities it will generate for you is mind boggling.

Income Strategy #59
Introduce Values
Certain values attract money and improve sales. Will it be possible for you to add a value to business ideas and create an income opportunity?

People do not respect certain types of businesses because the owners usually tell lies. If you introduce truthfulness as the basis of that business and let the world know the difference, you will make money.

Income Strategy #60
What People Want More
This is an extension of strategy #1. Most people want to have more of many things they already have. Find out what people want to have more. Your product or service must give people more of what they want to have or help them get more of what they want to have.

Most people have cable television. You need not be discouraged by the fact that every household already subscribes to your competitor. The customers want to have more channels and more entertainment even though they already have many channels and entertainment. If you can give them more channels, you can easily get into this highly competitive business and make money. The author hopes you understand the difference between Strategy #1 and this one.

Income Strategy #61
What People Want Less
This is an extension of strategy #2. Most people want to have less of many things they need. Find out what people want to have less. Your product or service must give people less of what they don't want to have or help them have less of what they don't want to have. For example, people need gas for cooking. They want to consume less because that saves money. If you can find a way to do this, you have an income opportunity. Two years ago, a street side entrepreneur sold Ken a handmade device that used a simple base metal interface and tungsten wires. It saved 40% of gas consumption. Ken paid Rs.150 and it worked for a long time. He promised four years but it worked only for two years. Still it was a bargain. The author hopes you understand the subtle difference between Strategy #2 and this one.

Income Strategy #62
Entertainment
Can you provide entertainment to other people? Television and movies are not the only way to provide entertainment. For example, a teenager in Calcutta knows simple tricks and performs magic shows in the kids' birthday parties. He charges Rs.250 per show and makes Rs.4,000 a month. For parents who organize birthday parties, Rs.250 is a small amount to keep their kids happy for two hours.

Income Strategy #63
Communication
Is it possible to create new ways of communication? Can you reduce the gap in the existing system of communication? If you can, you will find an income opportunity. For example, in some rural areas and towns most people don't have computers and internet. They can receive emails through your computers. When your customer gets emails either they will come and collect the emails or you will go and deliver them.

Income Strategy #64
Maintenance
Every machine needs maintenance periodically and repair work when they break down. Direct company maintenance is always expensive. Can you learn a machine well and offer maintenance services? For example, in India many professionals use pocket and notebook computers. However, when something goes wrong with notebook, they always find it difficult to find an engineer who can set it right.

Income Strategy #65
Syllogism
If A is B and B is C, then A is C. This is a basic technique in logic. Use this technique to find out business to sell products to people who are not direct users. There are many other techniques in logic. They are a bit complicated. So, the author has not included the other techniques here.

For example, mothers like kids. Kids like dolls. So, mothers like dolls. It may be true or not. However, in this situation most mothers will buy dolls.

Income Strategy #66
Cooperation
It is easier to market your product or service with help from others. Can you find out net working opportunities to make money? For example, bringing a lot of visitors to your website business is difficult. If you affiliate, that is network with other websites and pay them commission, it is very easy to make money.

Income Strategy #67
Discover
People are not aware of existence of many things in the world. If you can discover them, you can make money. To make money, you don't have to discover law of gravity. It's enough to discover simple things.

For example, a kiwi youth discovered hundreds of small pet rocks in a lovely beach. These pet rocks were of the shape of heart. No one was aware of them. He decorated them and sold as Valentine Day Gift.

Income Strategy #68
Invent
Can you invent something that has never existed? Your invention need not be as complex as a computer. Any existing product can be combined with another product to create new things. Introduction or addition of just one new element into an old product can create a new product or service.

For example, books are printed in bulk. If they are not sold within reasonable time, they become old. Paper color changes. A printer offered Print On Demand service and it immediately became a hit worldwide. He offers the same printing service but added one new element of printing only when required. You can order even three copies a week. He would print them and forward them to your readers directly. This service is a boon to self-publishing authors.

Income Strategy #69
Punctuality
Lack of punctuality is a common problem in most organizations. If you develop a product to solve this problem, you can make money. In a small internet company, the management did not know how their employees spent time on internet research. So, they wrote a small software to measure how much time the employees spent on each website. Within a month, productivity went up by 40% and connection bill came down by 27%.

Income Strategy #70
Combine Two Negatives
We don't like negative ideas. However, when you combine two negative ideas, positive results may emerge. We all know about antibiotics. A less dangerous substance eliminates more dangerous substance and helps human beings.

A Hollywood producer has combined two negative ideas and is creating the new movie Alien Vs. Predator. The dangerous creature in the movie Alien is a negative idea. The invisible specimen in the movie Predator is another negative idea. The less dangerous creature silences the more dangerous creature and saves the world.

Income Strategy #71
Movement
Sometimes, countries and states are swept by movements that can last for years. If your product is in harmony with that movement, you may make money.

For example, a few decades ago hippie movement swept over many countries. Any product that broke the social customs were appreciated by the hippies.

Income Strategy #72
Great Knowledge
Books or teachings of great people can have influence over the world and create terrestrial effects. Can you create a product or service that is in harmony with these teachings and knowledge?

For example, Roger Von Oech produces tools for creative thinking based on thoughts of great men like Heraclitus. You can create hundreds of more powerful books, products, games, toys, software, businesses and services based on the words of Indian Sages.

There are more than two hundred strategies. The author has given less than eighty.

Many of the strategies are extensions of a few basic strategies. For example, create a new business by introducing a value to an existing business is a basic strategy. Introduce cleanliness and improve punctuality are extensions.

Using the Treasure Miners from this book, discover your interests and seeds of skills. Apply the income strategies to your interests and skills. You will come up with many ideas. Use Reality Check list to validate your business ideas. Then work hard. You will make money and be prosperous.