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The Only Purpose of Business
~~~~~~~~~~~~~~~~~~~~~~~~~~~~

The only purpose of business is to produce Lifestyle.
I use the equation:

   - LS = T * $ * H2

     T  = Spare Time
     $  = Surplus Cash
     H2 = Health & Happiness

Business may create other side effects like giving
you personal satisfaction or bettering people's lives.
These are just side effects.

You test to see if you have a real business by way
of the "Maui Question":

   If you take a year off in Maui what's your
   business like when you return?

If the answer is, "I'm making more money than when
I left!", then you have a real business. Any other
answer and:

   "You don't have a business, it has you."

Meaning, you're are an employee of your business.
You're working for your business, rather than your
business working for you.


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Your Personal Lifestyle Equation
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Once you understand the real purpose of business you're
task is to determine:

   1) How much time you're willing to invest monthly.

   2) For how much money.

   3) And for how long is your time investment required
      before your business goes on full automatic.

I recommend you start with the following target parameters:

   Money = 3x your monthly expenses

           1x for expenses
           1x for investments
           1x for rest and relaxation

   Time  = 4 hours/week


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Your Market Selection
~~~~~~~~~~~~~~~~~~~~~

Next look at your list of affinities and consider their
associated Markets. Identify all the Markets with the
following characteristics:

   1) People in this Market are able to pay a price
      point which is in alignment with your personal
      Lifestyle Equation. In other words, if your
      target is $25,000/month and your product price
      point gives $10 profit/sale you have to make
      2500 sales/month to achieve your money target.
      If market supports price points which allow you
      to make $5000 profit/sale you only have to make
      5 sales/month.

   2) People in your Market are easy to reach, meaning
      their "Wired". They use the Internet (Web and Email)
      on a regular basis.

   3) People are currently joining your Market and
      preferable joining fast.

   4) There's lots of buzz in different media about items
      of interest to your Market.

   5) You're excited about investing time with people in
      your Market on a daily basis for 2-5 years.

   6) You're excited talking about topics related to your
      Market for 2-5 years.


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
$1,000,000 Market Research on a Shoestring Budget
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Once you have a Market set of interest. Pull up the
following Website:

   http://inventory.overture.com

This site will tell you how many searches were done
on a given keyword or phrase in the last 30 days.

Input keywords and phrases related to each Market
in your list. Pick the Market with the greatest
number of searches.

For each search you do, add up the counts and
multiple by 3 for a ballpark amount of related
daily sales. For example, with "Raw Food" daily
ballpark sales are around $50K/day.

Contrast this with "Internet Marketing" which
comes out to around $1.5M/day.

This formula was derived from a variety of data
across several industries. It's highly unscientific
and it's great for a 30 second comparisons.


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Market & Topic Selection
~~~~~~~~~~~~~~~~~~~~~~~~

Now pick the Market you desire to serve and a Topic
you'll loosing organize your Internet Marketing Flow
around.


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Internet Marketing Flow Simplified
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Once you have your Market and Topic selected, you'll
use this formula implement your Internet Marketing Flow.

   1) Build/Expand your Customer List.

   2) Email your Customer List with unique, valuable
      information related to your Market and your Topic.

   3) Do steps #1 and #2 until your business is ready
      to go on automatic.

A simple way to start this process is to visit Amazon.com
and sign up for their Associate (Affiliate) Program. The
link is on the left at the bottom of their home page.

Take all the people in your email address book an add
them to a group or list in your email program.

Identify three books related to your Topic on Amazon
and use the Build-A-Link Associates tool to build
quick links for people to buy these books.

Then cut an paste these three quick links into an email.
Write a review for each of the three books. Then send an
email to your list/group of people in your address book.
Be sure and select 'CBC:' when you input the name of the
list/group you're sending to, so email addresses are kept
confidential.

Your email is best served to be conversational, as you'd
write a personal email. You can take several possible
approaches to the format of your email:

   1) I just read these books and thought you might be
      interested in them.

   2) I'm doing homework assignment for an Internet Marketing
      workshop and I have to generate at least $1 of Internet
      Income by next Saturday.

The first approach is very neutral. The second approach will
tend to create much more interest and many people may call you
up and ask for details of what you're doing.

Use whichever approach you desire *and* email me a copy of
what you're sending out to your list and I'll give you my
thoughts about your message. When you're sending a message
to me for review email:

   To: david@davidfavor.com
   Subject: First message review