All It Takes is ONE Idea To Become A Millionaire
by Mike Litman
We already talked before about how your biggest asset is IMAGINATION. We also looked at an example of how that works in the REAL world.
Microsoft was started all from an idea that Bill Gates had. That idea made him the richest man alive. But, Bill Gates still worked VERY hard to build Microsoft into a company that made him so wealthy.
Let's look at another example of this that reveals how it only takes ONE idea for you to become extremely rich. This example also comes from my interview with Mark Victor Hansen. (You HAVE heard of the 'Chicken Soup for the Soul' books, right?)
(The following is an excerpt from my interview with multi-millionaire and best-selling author, Mark Victor Hansen.)
Mike Litman: Who is Authur Fry and what's the power to people listening today?
Mark Victor Hansen: I teach a whole seminar called, "38 Ways to Make a Million A Year With Paper Businesses". It's about IDEAS, intellectual property businesses. Whether it's games, franchises, books, tapes, videos.
Arthur Fry is the king of intrapreneurship. He found out 3M had a glue that didn't take ink off the paper. He saw the value of it when they didn't. He got 1% into perpetuity. All of us have ideas and you need to sell them to a big company like 3M that has taken 88,000 ideas and turned them into money.
But his makes the most money, the little yellow 'Post It' stickies, the notes. They make $100 million a year and he gets $1 million in his mailbox. He doesn't care how they market it, sell it, color it, cut it. What happens is that, he's got 29 other intrapreneurial ideas. In other words as an entrepreneur, you take the risk, which is fun. But, it's more important to do intrapreneurial ideas.
I've got a lot of them myself so it just works. Companies will execute them for you and you just get a check in the mail every month.
-- Mike Litman
Mike Litman is the author of the #1 Best-Selling book, Conversations With Millionaires. In the book 9 Millionaires share their strategies for becoming wealthy.
A Motivation Community
- Conversations With Millionaires
By Mike Litman