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How To Become a Millionaire In Three Years

jasonlbaptiste.com

11–20 of 79 posts

Re: How To Become a Millionaire In Three Years

#14

Thanks for editing your comment and posting it. It's much nicer to read. And... > Raise Revenue, Not Funding Thank you, thank you, thank you. > Look For Something That Is Required Or Subsidized By Law I'd like to add that you should be careful about something that requires you to need constant permission from a third party. The iPhone market is a good example. While I'm not suggesting that you shouldn't develop for t…

VERY good point. I call this the "fallacy of control" ...

Basically, don't forget who controls the product/service/platform you're trying to build for or sell. The prime example of this is Pandora's epic journey through the annals of the music industry. Brilliant idea, brilliant execution, but almost didn't make it because they didn't actually have any control over the product they were selling (other peoples' music).

I've seen lots of companies start and fail trying to do similar things -- music, movies, TV shows, etc. So many ideas can be so simple ... "we'll create this awesome service that lets you pick your song and XYZ"

Or, more simply put: Be in control of your own supply chain.

Re: How To Become a Millionaire In Three Years

#16

Are you in fact a millionaire?

Yeah, I wasn't sure exactly how to ask this without sounding snarky, but I do think it's a valid point. If you're not, or if you are but didn't make it in three years, I still think the info you offer is valuable, but it doesn't come from the same well of experience as someone who has done it.

Re: How To Become a Millionaire In Three Years

#20
post #14

Thanks for editing your comment and posting it. It's much nicer to read. And... > Raise Revenue, Not Funding Thank you, thank you, thank you. > Look For Something That Is Required Or Subsidized By Law I'd like to add that you should be careful about something that requires you to need constant permission from a third party. The iPhone market is a good example. While I'm not suggesting that you shouldn't develop for t…

VERY good point. I call this the "fallacy of control" ... Basically, don't forget who controls the product/service/platform you're trying to build for or sell. The prime example of this is Pandora's epic journey through the annals of the music industry. Brilliant idea, brilliant execution, but almost didn't make it because they didn't actually have any control over the product they were selling (other peoples' music)…

> Fallacy of Control

I like this. I'm going to steal it for my own personal use in later conversations, where I will forget to credit it to you, Mr/Mrs NLH.

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