When you select a product, your choice should be based upon your knowledge of how and to whom you’re going to sell it. You may have the greatest bargain in the world, but it will be of no value to you if you don’t know who’s going to buy it, or how you are going to get the word out about it.

The first rule to achievement of a fortune is to produce or buy your product for pennies and sell for dollars. So after preliminary market research to determine who will buy your product, the next question to answer is: How much will the majority of this market be willing to pay for your product?

For the sake of our discussion, let’s say that you’ve written a “How-To” manual on how to make $100,000 a year compiling and selling mailing lists. You check with a number of printers and get a production cost of $l.5O per book in lots of 1,000. You
figure that with sharp advertising, you can -sell a million of these books at $10 per copy, but that advertising will cost you $1.50 per book. Thus far, the basic cost of your book is $3 per copy.

Even though you will probably be the one selling most of your books, you must realize that it will take you an awfully long time to move out a million copies of this book. It will keep you busy 25 hours a day, 8 days a week to do it all by yourself. So the thing to do is recruit as many other people as you can to help do the selling. This means setting up a dealer distributor network.

So what’s next?
Well wait for my the second part tomorrow…