Tuesday, March 29, 2011

Necessity is the Mother of all Inventions

An ordinary kid born in England facing the same challenges that a lot of students out there in UK and here in USA face and most likely other parts of the world as well, The rising cost of education.  I am talking about Alex Tew, who was about to enroll in to his Business Management course when he realised that the cost of going to school would put him into debt for at least 10 years.  Under tremendous amount of stress, Alex tried very hard to figure out how could pay for his education.  And he achieved his Yahoo or Bing moment.  He came up with a ONE PAGE website idea called Million Dollar Page.   A very simplistic marketing idea.  Basically he decided to make a web page of 1000 x 1000 pixels (1 Million) and sell 1 pixel for $1, on only one page.  He put this idea to work sometime in mid 2005.  Initially nobody signed up so he sold few pixels to his family and friends then word spread out so he got few advertisers, when he got some money out of these in few weeks he did a press release, BBC and then a Boom happen.  Soon Alex became a marketing Genius.  Advertisers started signing up left and right and withing few months of launch he was able to reach his target goal of 1M pixels netting him over $1Million.  In the end the demand was so high that he sold the last pixels on Ebay and was able to get about $35k, Yes.  Simply Amazing.  An ordinary Kid struggling to pay for his school came up with the most amazing idea on the Internet and made $1M in less than 6 months.  He is far from ordinary, The Genius was within him, he just had to bring it out. There are many lessons to be learnt from this.  
1) Never Give up
2) Try Harder
3) Reach out to family and friends
4) Network
5) Stress can bring out the best in us
6) It doesn't take millions or thousands of dollars in funding to start a successful business.
7) You don't have to be an Ivy league student to be successful
8) Yes, world class products are important but it is the marketing that makes them a world class success.  Apple :)
9) Think Outside the Box
10) Take that first step, Take Risks.

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