If you understand that one is many, you will make money. One great content or product can be rendered into many profitable forms or products. You don't have to be a professional to create many from one to make money.
A few years ago, Peter Lynch wrote an excellent book on stock market with the title 'One up on Wall Street'. After reading this book, John told me, "Had I read this book last year, I would not have lost Rs.1,00,000 in stock market. My hard earned money has gone with the wind."
"Every event, big or small, good or bad, comes to us only to make us more conscious and more prosperous. It has no other purpose. If you understand the hidden meaning of that event and learn the lesson, you will make progress," I told John. "Ken, it's easy for you to talk philosophy when it's the other person that has lost money," John said with a smile and continued, "Please tell me how my losing money is an opportunity. I have already learnt my lesson: One should never invest in stock market because it is a dignified casino."
"That is not the lesson you were supposed to learn. Without the investment of small investors, formation of big companies and big industries would be impossible. Investors would never invest in big companies, if encashment of their investment when they need money is difficult. Stock market offers this liquidity and does a great service to us. The attitude with which you invest in stock market is the key to your success," I told John.
"Then what is the correct lesson? I am interested only in money. You believe that I can make progress through my loss. Do you have any insider information? Do you have any secret tips about a hot stock? I can take loan on my Life Insurance policy and invest the money in it," John was in a hurry to make money. "I don't have any hot tips. John, you lost one lakh in stock market. You represent thousands of investors who lose money in stock market. If you acquire some knowledge about solving your individual problem, that knowledge will certainly be useful to others also," I told John.
"I am neither a Chartered Accountant nor an investment consultant. How can I advise others?" John asked me. "Just now you said that the book by Peter Lynch was great. You can use it as a source for making money by solving others' problems," I told John. "Oh, my God! Do you want me to copy this book and sell it to others?" John was shocked.
If you understand that one is many, you will make money. One great content or product can be rendered into many profitable forms or products. You don't have to be a professional to create many from one to make money.
A few years ago, Peter Lynch wrote an excellent book on stock market with the title 'One up on Wall Street'. After reading this book, John told me, "Had I read this book last year, I would not have lost Rs.1,00,000 in stock market. My hard earned money has gone with the wind."
"Every event, big or small, good or bad, comes to us only to make us more conscious and more prosperous. It has no other purpose. If you understand the hidden meaning of that event and learn the lesson, you will make progress," I told John. "Ken, it's easy for you to talk philosophy when it's the other person that has lost money," John said with a smile and continued, "Please tell me how my losing money is an opportunity. I have already learnt my lesson: One should never invest in stock market because it is a dignified casino."
"That is not the lesson you were supposed to learn. Without the investment of small investors, formation of big companies and big industries would be impossible. Investors would never invest in big companies, if encashment of their investment when they need money is difficult. Stock market offers this liquidity and does a great service to us. The attitude with which you invest in stock market is the key to your success," I told John.
"Then what is the correct lesson? I am interested only in money. You believe that I can make progress through my loss. Do you have any insider information? Do you have any secret tips about a hot stock? I can take loan on my Life Insurance policy and invest the money in it," John was in a hurry to make money. "I don't have any hot tips. John, you lost one lakh in stock market. You represent thousands of investors who lose money in stock market. If you acquire some knowledge about solving your individual problem, that knowledge will certainly be useful to others also," I told John.
"I am neither a Chartered Accountant nor an investment consultant. How can I advise others?" John asked me. "Just now you said that the book by Peter Lynch was great. You can use it as a source for making money by solving others' problems," I told John. "Oh, my God! Do you want me to copy this book and sell it to others?" John was shocked.
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"You should never do that disgraceful act. The book gives you some useful knowledge. You can convert that knowledge into other usable forms of your own and sell your products to make money." I told John. "Do you think I can do that? Can you explain the idea to me in detail?" John asked.
"Gold is a precious metal. You can covert gold into plates, biscuits, coins, rings, bracelets, .necklaces and chains. Whatever is the form, gold remains as gold. It does not lose its market value. In fact, the value of gold goes up when you convert it into a jewel and add a few diamonds to it. Every productive idea, thought, product or service is gold. If you apply your mind on this gold and create new useful forms, you can make money," I explained to John. "What you say makes sense," said John.
"Thousands of years ago, epics were composed, kept in memory and passed on to a few dozen disciples orally. When palm leaves came into existence, the epics reached hundreds of people. Then paper books carried the immortal epics to millions of people. Now, the same epics are on internet and billions of people have access to them. The content is the same. But the form that carried the content evolved. Each step in evolution enabled the epics to reach more people. Now, we are in a digital world. With a right form, we can reach billions of people in minutes and earn high income. If you can convert a product, any product, into a digital product, you don't have to worry about money for the rest of your life," I told John.
"Is there a way to find out such opportunities?" John asked me. "There is an easy way. Anyone can do it. Find out the hot selling books, gadgets or products. Render the knowledge of the book or the purpose of the product into a computer related product. You will make money in a short time." I told John.
"Where can I get information about the hot selling products?" John asked me. "You can visit websites like Amazon.com for such information. Go through the list of top 100 best sellers in books, electronics, software and other categories. You will be flooded with ideas." I said to John.
"Can you give me some real life examples?" John asked me. "Harry Potter is a hot selling book. This book has been converted into many different forms such as movie, game and cartoon. All these forms are hot products. Everyone can find out opportunities at one's own level." I told John.
"Tell me something about my loss," John said. "John, I have a wonderful idea. This book has 300 pages. However, there are only 30 ideas. Each idea has been explained in 10 pages. Many people would not like to read 300 pages even if this book is solid gold. Why don't you take out the frills and give just the essence of the knowledge in some usable form?" I asked John.
After a few minutes of thought John said, "I know how to use spreadsheet software such as Microsoft Excel. I can create a simple excel worksheet in the form of a checklist. The checklist will consist of ideas and advice similar to the ones in the book. If the investor clicks on just 30 items and he will get an assessment about the stock. The investor can get the essence of the knowledge without actually reading the thick book." "Brilliant! Wonderful! Do it immediately. But, make sure that you don't break copyright and intellectual property law," I told John.
Within a few months, John created a beautiful workbook. Some of his knowledgeable friends helped him wherever he faced technical problems. Though I would price it at Rs.2,000 a copy, John was not so confident and priced it at Rs.300 a copy. He gave complimentary copies to the stock brokers and the staff in their office. They liked the useful workbook and recommended it to their clients. If you don't know anything about stock market, you would not be able to understand the power of a word from a stock broker.
In the following months, John sold 500 copies at Rs.300 a copy for cash. His investment? Zero. His profit? Rs.1,50,000. He has again started to invest the new money in stock market. I don't know whether he uses his own checklist to evaluate his investments.