Go Find Rich People

David Wecker and Doug Hall of Brain Brew were asked how to find a market:

Amelia, it’s real simple. Go find rich people. The people with the most money are usually the best people to get a lot of money from. The first places she should investigate are the markets with the most money available.

You do that by looking at the numbers of potential customers and the kinds of budgets they have — preferably budgets that are already in place. It’s not impossible to create new budgets, but look first for money that’s already in place.

We’ve known plenty of intelligent people who made the mistake of trying to get money from people who don’t have any. If you see an industry that fits the services you offer, though, and it has budgets set aside for services like yours, that’s a market.

At the Eureka Ranch, one of us sells ideas to mega-corporations for ridiculous amounts of money. They may have $50 million to $100 million on the line for a new product or a brand in need of a jumpstart, so, for them, to pay hundreds of thousands of dollars for, say, 20 ideas — that’s cheap in the big picture.

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