The Best Business to Start if You Need Money Now
As we continue our recording studio makeover at Ray Edwards, International, I've been going through some past episodes, looking for those that stood out\u2026episodes worth a second listen.
The one I found for this week seemed oddly prophetic. It was released about a year before the pandemic began and actually seems even more appropriate in 2021.
Don't take my word for it\u2026listen, and hear for yourself.
Feature Presentation: \u201cThe Single Best Business to Start (If You Need Money Now)\u201dWhile thinking about this idea of the \u201cideal business\u201d, I ran across an article by John Forde at AWAI. I will link to the article in the show notes. (https://www.awai.com/2009/05/is-copywriting-the-worlds-best-business/)
Forde argued in that article that he has a set of objective criteria for what makes \u201cThe Ideal Business\u201d \u2026 and these reasons actually go back to an article written in the 1970's by financial guru Richard Russell.
Russell was the writer and publisher of \u201cThe Dow Theory Letters\u201d, starting in 1958. Russell died in 2015. But as of the date of his passing, the Dow Theory Letters was the longest-running service continuously written by one person in the business.
So no, he wasn\u2019t writing about copywriting as we know it. And yet \u2013 he was a master of the craft.
Anyway, with credit to John Forde and Richard Russell, here are the essential qualities of \u201cthe ideal business\u201d for anyone to start.
1. \u201cSells the World.\u201d
2. Enjoys Inelastic Demand\u201d
3. \u201cCannot Be Easily Copied\u201d
4. \u201cHas Low Labor and Overhead Costs\u201d
5. \u201cTakes in Cash Billings\u201d
6. \u201cIs Free of All Kinds of Regulation\u201d
7. \u201cIs Portable\u201d
8. \u201cSatisfies Intellectual Needs\u201d
9. \u201cLeaves You With Free Time\u201d
10. \u201cIs Not Limited By Personal Output\u201d
I have two more \u201creasons why\u201d to add to the list\u2026 (these are my own additions.)
11. \u201cEasily Profits Whether Markets Are Up or Down\u201d.
12. \u201cIs a Minimalist Business\u201d.
This episode of the Ray Edwards Show is made possible in part by The All-New Ray Edwards Enhanced Certified Direct Response Copywriter Program, where I help anyone who wants to make big money from their writing without getting a publisher or having a bestseller, and even if nobody knows who you are. Get my proven methods, systems, and even my endorsement \u2013 go to\xa0RayEdwards.com/CDRC2021
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