Have you ever wondered how certain people make millions every year
Have you ever wondered how certain people make millions every year leveraging the power of the Internet? Does it frustrate you that everyone seemingly has access to the same information, tools, and technology, but only a select few fully realize the benefits of the Internet’s extraordinary
reach and massive profit potential?
1- Millions of dollars are spent annually
On video tutorials, webinars, membership sites, workshops, books, and seminars that promise to explain how to best market products and services online and via mobile. Yet, seldom do these materials deliver the specific, step-by-step answers needed to exponentially grow one’s business.
There are more than 2
billion Internet users worldwide and over 5 billion mobile device users with both audiences increasing daily. This means a staggering number of potential customers exist for your products and services.
It has never been easier to launch or improve an Internet-based business without spending significant capital to do so than right now. It would be nice if all you needed to do to profit online was create
an attractive website,
offer products for sale, and set sail on your luxury vessel “Yacht Com” as cash accumulated in your Swiss bank account. Unfortunately, it’s not that easy.
3- xii | INTERNET PROPHETS
So, how do you take advantage of all the Internet offers to become best use of your time, energy, and resources? To lay the groundwork for answering these potentially life-altering questions, let’s begin with a look back at 1993. Dial-Up Days In 1993, my colleagues and I were sitting around a rectangular table
- end up king of computer communications: CompuServe or America
- wine, champagne, spirits, and gift baskets through a network of licensed
- wine, champagne, spirits, and gift baskets through a network of licensed proponent.
Even though it took roughly a minute to download a picture of a single bottle of wine that was no bigger than 1” x 2”, I was confident nothing would stand in the way of CompuServe dominating the online game. My friends were pro-AOL.
Led by Craig Goldwyn, founder of the Beverage Tasting Institute who would subsequently manage
4- AOL’s Food and Drink channel for nine years, they were huge fans of AOL
’s growing platform and proud of their affiliation with the company. After numerous visits to Columbus,
Ohio to meet with the CompuServe team and hear directly from CEO Bob Massey, I was
sure Craig was delusional. It would be far from the last time I was wrong.
5- The Entrepreneur Within
As a lifetime entrepreneur, my DNA is wired to try to turn a quarter I was older, I waited tables, pumped gas, stuffed envelopes, and even sold speakers out of a van. In my late teens, I made exceptional money as a headline
DJ (under the name Mr. Bold) and built a significant following. This led to my opening and running a nightclub called The Funky Pickle!
6- I then went on to build four multimillion-dollar
Companies in four different industries: catalog, real Together with my mom, we steadily built it into a profitable company. Just as we were pioneers during the dial-up days, we didn’t sit idly by as the Internet took over.
In 1995 we launched one of the web’s first fully functional eCommerce sites, In 1998, we acquired Liquor.com and Bourbon.com for $7,500 from a smart young man who was squatting on the domains. Liquor estate, dot com, and personal
Together with my mom, we steadily built it into a profitable company. Just as we were pioneers during the dial-up days, we didn’t sit idly by as the Internet took over. In 1995 we launched one of the web’s first fully
7- At the time, dot com companies with
little more than outlines were being bankrolled. I remember thinking, “If companies with just ideas on a napkin can raise millions,
shouldn’t a company with a high value domain that’s already grossing millions be able to raise capital to achieve additional millions?” (I was a bit obsessed with the word millions back then.)
8- INTERNET PROPHETS
Blinded by the dot com light, we brought in investment bankers to take us to the promised land. These signed on the dotted line and turned the reigns over to those more “capable.” This was Mistake #1. As fate would have it, the S-1 was filed in early March of 2000. On March 10, the stock market collapse
NASDAQ intraday trading peaked at 5,132.52 and closed at 5,048.62. On October 4, 2002, the NASDAQ closed at 1,139.90.
Needless to say, we were unsuccessful in our attempt to raise public funds. Further, it became increasingly apparent our lettered saviors had no clue how to run a business. It didn’t help that the company was based in
Chicago and they were in New York. This was Mistake #2.
Six months later I quit and walked away from everything, including the domains. After nine years busting my tail to create a viable enterprise, my net proceeds totaled exactly…zero. highly paid advisors quickly convinced my mother and me to:
to decide how to break the news to my wife. I also analyzed my family’s financial position...which wasn’t pretty.
Mom and I had continually reinvested our profits into the business and, as our family’s primary breadwinner, we sat on the verge of bankruptcy. Drawing in my breath, I climbed what seemed like an endless flight of stairs to enter the second-