Category: Blog

Dr. Dre From Compton to Selling a 3.25 Billion Company

This posting will provide anyone wanting to start earning passive income as an entrepreneur the encouragement that anything is possible! Learn how someone growing up on the mean streets of Compton was able to move from becoming a successful entertainer, to becoming an entrepreneur that will soon be selling his business for 3.2 Billion Dollars!

It’s all about finding a unique need or desire in the market, and then providing that need or desire no matter what it takes—that the true soul of an entrepreneur

It’s amazing what people can do, no matter what situations they have endured.

Some believe that they can’t succeed because they:

  • Don’t have enough capital to start their dream
  • Didn’t grow up with parents that cared for them
  • Don’t know the right people to network with to start their business

 Dre

However, this is simply not true. If you have a desire to change the world through innovation and are willing to preserver no matter how hard it may be, you can achieve whatever you put your mind to.

And that is exactly what Dr. Dre did—a man that grew up in Compton, California—an area well known for being one of the worst places in the United States for crime and violence. In fact, after Dr. Dre completed his freshman year in Compton High School, his mother quickly transferred him to another school because of the bad influence it had on his academics and life.

However, Dr. Dre never did excel in school, so not having a good education doesn’t mean you can’t become a great entrepreneur. However, Dr. Dre found a secret that helps entrepreneurs climb to new levels—and that is building relationships.

Desiring to become a successful DJ and Hip-hop artist, Dr. Dre began socializing and building relationships with individuals that could influence his ambitions. Eventually he climbed the charts, becoming a well-known hip-hop artist, especially when he partnered up with Snoop Dog and cofounded Death Row Records.

From Entertainer to Entrepreneur

Dre 2

In 2008, Dr. Dre cofounded Beats Electronics, LLC, which produces audio products and equipment. They currently hold the highest market share for headphones that cost over $100—with an estimated 73% of the market share. These headsets are cleverly marketed as “Beat’s by Dr. Dre,” using the entertainer’s popularity to label the product.

This is downright amazing considering someone that grew up in the toughest areas of the United States during his childhood, had divorced parents, and even had a child at the young age of 16.

Apple is Ready to Set a Deal

Apple has been highly interested in buying Beats Electronics out—and they are about to break a deal to purchase the company at an estimated 3.2 Billion! With Dr. Dre owning as much as 25% of the company, his share would be estimated at around 800 million dollars!

You Can Live Your Dream Regardless of Your Situation

Dre 3Here is the real deal, becoming an entrepreneur has nothing to do about how you grew up, what kind of education you had, or whatever your current position is right now.

Remember I am from the Bronx, NY and had nothing but dreams when I was young and that has never stoped me!

If you have a dream to start your own business, then do it.

If you feel like you have a product or service you can offer, then do whatever it takes to show it to the world.

Don’t ever believe your limitations will keep you down, you can always achieve what you set your mind, heart, and soul towards.

DONG NGUYENIn a matter of weeks, the addictive iOS application Flappy Bird has been the talk-of-the-town and has created a lot of untoward reactions from players due to its easy but devastating gameplay.

How did Flappy Bird architect Dong Nguyen ever make it through fame and fortune and why did he deny himself of that phase by pulling the plug on one of the most controversial games ever played in the account of smartphones?

Exploring Dong Nguyen’s Life

Pumped up with his childhood Nintendo gaming days and gifted with a tactful mind, Nguyen intended to provide smartphone holders around the world something that would not need intense thinking and mind-blowing effects to conquer. Amidst the popularity of the game, Dong Nguyen remained hushed. He was not known until he suddenly shut down Flappy Bird and provided vague messages to the public.

28-year-old programmer Dong Nguyen who lives in Hanoi decided last April 2013 to create a mobile game that offers a simple but unique and challenging fix. Alas, May 2013 paved the introduction and popularization of a game that no one saw coming.

The Game that Was

Flappy Bird ended as soon as it started. During the hype of the game, Nguyen sent out an unprecedentedflappy bird game over announcement of shutting down the game amidst its worldwide success. This unexpected unplugging of the game caused massive hysteria especially for those who are just getting used to the game and are actually enjoying it.

When the game was initially launched, it spurred a series of repetitive feedbacks from gamers and users alike regarding its design and undeniably easy gameplay. Some would say it looked exactly like Mario Bros. World minus the familiar protagonists and its antagonists. Come to think about it, the atmosphere of the once popular game known to many as Flappy Bird is quite similar to that of Mario Bros., a game that was popularized by Nintendo and has widely entertained all walks of life especially kids who lived in the 1990s.

Regardless of its undeniable and questionable similarity, the game was accepted with open arms and maintained its ranks as one of the most played smartphone applications from May of 2013 until the early 2014. Unfortunately, the game’s presence only lasted until January of 2014 when Nguyen announced through Twitter about his dismay of Flappy Bird’s popularity and his struggle with the game.

Why so popular?

If you were used to games that require a higher form of mental ability, you would find Nguyen’s creation a no-brainer. Actually, the game was ecstatically easy and at the same time, exasperatingly difficult. This made the game more in-demand since competition on who would get the highest score has become the new trend.

Flappy Bird has given them that challenge and masked it in a deceiving and obnoxious twist. The game is so overwhelming that you wouldn’t know why you are playing it in the first place but you still keep trying solely because you know that it’s quite a stupid game that you know you can easily conquer. Yet you keep on failing again and again and again. 

The Gameplay

flappy birdThe game only has one rule – to keep on flapping. However, as soon as you hit that play button, you see your bird tumbling down and find yourself starting the game over again. This action will be repetitive in a couple of tries. That is how the game will present itself to you especially if you are not well-versed enough to navigate through the unlimited pipelines.

Initially, a cartoon-like bird will appear. Then you just have to tap to flap. You have to keep on flapping – flap up, flap down, flap through. The moment you hit that pipe, game’s over. The moment you hit the ground, game’s over. There won’t be any three lives to continue where you’ve ended. Done.

Simple yet sadistically incorrect, why? You only have one life. You don’t get resurrected on the same place where you got splattered. You have to start from the very beginning.

Flappy Bird provided no cheats and no walkthroughs which made the game more enticing and challenging. Strategies are not necessary and you don’t have to use some sort of code to unlock mysteries behind every level. Money is not a requirement; you don’t have to purchase items and create characters and archives. All you need to do is start the game, keep that funny-looking bird flying through the pipes without smashing against them and eventually brag about how far you’ve reached in terms of scoring.

Saying Goodbye

In sheer disbelief, Nguyen tweeted on February 9 that he is going to take down Flappy Bird for no definite reason. He just concluded that he “can no longer take it anymore”, for whatever that may mean.

Where’s Ngunyen?

During the existence of Flappy Bird mania, its developer remained invisible. He seldom tweets and doesn’t make a huge fuss about his story. He refused interviews and media exposures. Alongside the achievement was a continuous thread of sarcasms and doubts whether or not he was a fraud for duplicating a game’s success and putting a lame application instead.

Following the Demise

It has been two weeks since the termination of Flappy Bird, Dong Nguyen hid from the masses and has remained shy from confrontation. He left his parents’ house and fled to one of his friends’ apartment. In an interview conducted by David Kushner of rollingstone.com, Nguyen admitted that he “couldn’t predict the success of Flappy Bird” that when it reached peak, the feedback was too overwhelming, he did not expect the overrating remarks made by anyone who has encountered the game.

Success Out of the Blue

On a business perspective, Flappy Bird is considered a goldmine. According to sole developer Dong Nguyen, his creation was meant for ­offline entertainment and was made out of passion and not for profit. By February, Nguyen is earning approximately $50,000 on a daily basis. Talk about being rich super fast in a short period of time.

However, this success has caused a lot of stress and inconceivable pressure on Nguyen. He was receiving hate messages and stories from beguiled moms about their children being so hooked up with the game, it affected their relationship and the way they interacted with each other. Rumors have spread regarding suicide attempts and a huge company suing him. Flappy Bird, according to majority of critics and gaming websites, was a complete rip off.

Insights from Nguyen

Alas, after trying to break free from the media, Dong Nguyen finally broke his silence and instigated several interviews to “clear things up”. Nguyen corrected that his imitation of Super Mario Bros. was his way of paying homage to an epic game that he grew up playing. In numerous meetings, Nguyen has stated several reasons why his creation has received this much from what appears to be too little. Based on his statements, Nguyen shared secrets on his success.

  1. The primary reason why his game has become viral is due to its simplicity and the opportunity for player competition.
  2. Competition is mainly designed for offline use and is not meant for an online approach. These days, online games have flooded the mainstream that it compromised the main reason why people played games in the first place.
  3. Flappy bird is made with only one setting, activity and gameplay mechanism which is why it’s very easy to learn and play since it requires only skill.
  4. “Pay to win” is something that made players cringe.
  5. “Crowded” games are easily forgotten by people.
  6. Competition is always a crowd pleaser.
  7. Nguyen’s game is purposely created for people who are always on-the-go and has less time to unwind. He wants the game to move forward just by “tapping”.
  8. Nguyen created something that’s easy to overcome but is hard to master.

Handling the Abyss

Come to think about it, Dong Nguyen is just like any other newbie entrepreneur. Though he has reiterated in numerous ways that his intention for the creation of his games is not for profit, Nguyen still started off as an entrepreneur trying to make it to the business world.

If you were Nguyen, how would you have handled the stress and pressure that your newly found business has contributed to your life?

First, you need to accept the fact that when you produce something that might cause a massive impact on relaxconsumers, there would be drawbacks pertaining to what you created and you must have the courage to face these drawbacks otherwise, you would be caught up in your own hysteria with no way out but to let go.

Next, you need a support system. This means that you need the help of your family and friends in times of major outbursts and setbacks. The presence of these important people in your life is a necessity. Without them, you would be left overwhelmed in either success or failure.

Third, you must always have plan B, C and you can even reach until plan Z. Just in case plan A doesn’t work, you can always turn to other strategies to carry out your business. You must not give up on the first sign of distress. New businesses tend to be shaky at first. Dong Nguyen has created several other games before he created a legendary bird that will beat all other birds.

Lastly, if all else fails, turn to experts. Ask for advice. Don’t just shut down everything and leave it behind. Manage your weaknesses in a healthy manner. If it would help, give yourself time and space to think about other solutions to your problems.

Most importantly, don’t lose yourself. Whether you win it or lose it, the most important thing to remember is that you must not allow work stress and pressure to get the best of you. Remember that you are the master of your own fate.

 

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Marketing Requires Useful ContentTraditional Marketing is rapidly becoming a thing of the past. With a flick of the DVR potential customers can skip television advertising. They hang up on telemarketers, no longer feeling sorry for the “poor person” on the other end of the line. They often ignore magazine advertising. They have become so adept at online surfing they can digest the information while ignoring, dismissing and simply not seeing banners and buttons which just makes the irrelevant. They’ve had to. A famous study by research firm Yankelovich found the average person is exposed to about 5,000 ads or offers per day. Buyers have tuned out marketing. In fact, as marketers attempt to regain their loss of influence on the consumer market, they become bolder with their online banners, which not only doesn’t attract, but can actually turn-off potential customers who quickly label it as spam. Company information presented by the company isn’t seen as trustworthy or valuable.
 
There has to be a better way.
I help businesses find ways to grow their income by expanding their product offering switch passive income strategies. Today we are going to talk about the use of content marketing to create valuable online products that serve as effective marketing strategies to reach today’s savvy customers.
 
What if customers looked forward to getting your marketing instead of getting rid of it without barely a glance? What if they spent quality time with your print, email, website or other marketing media? What if your marketing content built relationships with your online and face-to-face customers where they trust the integrity of your products and services?
 
Content marketing is a marketing technique that builds customer loyalty and profitable customer action by creating and distributing relevant and valuable content to a clearly defined and understood target audience. Content marketing is an ongoing process that is best integrated into an overall marketing strategy. It focuses on owning media, not renting it. Businesses own media when they make the decision to create and publish their own content to build brand awareness or reinforcement, create lead conversion and nurturing and customer conversion. Business rent media when they buy advertising space.
 
Amazingly enough, content marketing focuses on communicating with customers and prospects without selling. It doesn’t interrupt. It doesn’t pitch products or services. It makes buyer more intelligent. It gives customers quality information they can use to solve their problems. When businesses deliver consistent, ongoing valuable information to buyers they build relationships and are rewarded with business and loyalty.
 
And it works. According to Roper Public Affairs, 80% of business decision makers prefer to get company information in a series of articles rather than an advertisement. Seventy percent say content marketing makes them feel closer to the sponsoring company. Sixty percent say that company content helps them make better product decisions. Businesses that are successful in developing timely, relevant, non-promotional content reach potential buyers both directly and indirectly through word of mouth.
 
Targeted, relevant content, like remarkable products, induces conversations and incites sharing. It provides retention throughout the buying cycle. Thoughts leaders like Seth Godin have concluded that content marketing is “all the marketing that’s left.”
 
Content marketing includes such activities as:

  • Social Media
  • Article posting
  • In-person events
  • Blogs
  • Case Studies
  • White Papers
  • Webinars
  • Videos
  • Print Newsletters
  • Podcasts
  • eBooks, etc.
  • Published books

 
Content marketing isn’t new. It’s been around since Jell-O first published a cookbook using its products in the recipes.We see it today as companies such as Microsoft or John Deere send out non-advertising information to it’s customers.It’s being used by some of the largest organizations in the world as well as small businesses and one-person shops around the globe.
 
Regardless of your overall marketing strategy, quality content should be included in all facets of your marketing process:
 

  • Social Media Marketing
  • SEO (Search engines reward businesses that publish quality, consistent content)
  • Public Relations (Successful PR strategies address issues readers care about and not their business)
  • PPC only happens when there is great content behind it
  • Inbound marketing (quality content drives inbound traffic and leads)

 
How content marketing should fit into your marketing plan depends on your business today and where you want to take it tomorrow. Here are some questions to consider when deciding how to proceed:
 

  • What is the need? How big of a need is it? Is there a big enough audience to justify the time and effort?
  • Who are our critical group of buyers? What do they really need and how would they want to receive it?
  • What do you hope to accomplish with content marketing?
  • What is your differentiating value?
  • Why is this more important than other things we are spending time on?
  • What does the customers’ buying cycle look like?
  • What content would need to be created based on the engagement cycle?
  • What is the customer context? What is the reality for our customers?
  • Who else is doing this? If no one, why hasn’t it been done?
  • What will our brand ultimately achieve?
  • What do we already have that tells our story? What is good about what we have? What must change to be able to tell our story more effectively?
  • What is the tone, velocity and structure that will best tell our story?
  • How will you measure success?

 
Content marketing is most effective when it’s written for a specific reader. This reader could be a business personal (someone you make up who looks like your typical targeted customer), a prospect facing a particular challenge or an active lead that meets certain criteria. Without a clear audience in mind, the marketer can’t create a communication product that will educate, entertain or inspire the right consumer.
 
But wait…..once content is created, especially if it’s in the form of an eBook, book, article or white paper, it can also be sold on sites such as Amazon.com. At first glance, online marketplaces like Amazon and eBay seem to be a match made in heaven with mutual benefit for both parties. This could provide another source of income and quite frankly dramatically increase exposure to more buyers for the business’s products and services. The marketplace gains and expanded product range to offer it’s customers without having to increase inventory.
 
On closer investigation, the mutual benefits remain, but there may be some considerations you should make before taking the plunge. There are advantages and disadvantages to this, but again, it depends on what you want to accomplish. It may be a pot of gold for some retailers and a bust for others. There are a lot of variables to consider, including the type of products you sell, the intensity of competition in your category, your current margins, marketplace fees and restrictions, etc.
 
Upside of Selling to Amazon
 
Increased product exposure and potential sales due to the large scale of their online presence is the AMAZONmain draw of selling on marketplaces such as Amazon. Amazon alone draws nearly 85 million unique monthly visitors. That’s tough to ignore. Many businesses see a dramatic increase in sales when they join Amazon Marketplace.
 
Customer Acquisition is also a big draw. With excellent service and fulfillment, you get a chance at repeat business, especially if you are selling products in a category that encourages frequent, repeated purchases such as hobby supplies.
 
Marketplace infrastructures provide not only visibility but checkout and fulfillment support that creates a seamless experience for buyers.
 
Downside of Selling to Amazon
 
It depends on what you want your business to be. Utilizing Amazon Marketplace can bring in income, but for the most part that will reach a ceiling. Keep in mind that Amazon’s strategy is to provide selection, price and convenience for its customers. Other merchants fit into this strategy only so far as they help Amazon offer a wide selection of products. In essence you are seen by Amazon as an Affiliate – a source for new customers. When a new customer finds you on Amazon, you have created a customer for Amazon. Once that customer is obtained, Amazon’s model is to sell the full range of its products, not yours. There is no personal relationship with the customer.
 
Profitability in eCommerce depends on repeat purchases and in selling more than one product to customers. In Amazon, you lose your brand. The traffic isn’t coming to your site; it’s going to Amazon’s site. You have no opportunity to upsell the visitor.
 
Amazon has the customer relationship, not you. Amazon is a master at building and maintaining customer relationships to get its customers to come back and buy more of its products (not necessarily yours). The relationship with the customer belongs to Amazon, not you. The customer mindshare belongs to Amazon. In fact, if you use Fulfillment by Amazon where Amazon has the shipping, you know nothing about the customer at all. They own the data and the customer relationships.
 
The search engines within Amazon may make your books hard to find. In its search engines, Amazon caters to its own traffic first as well as uncommon books. Yours may appear so far down the line that no one sees it anyway. Sometimes only a Google search will bring your clients back to the right place on Amazon’s site.
 
The common use of automatic pricing and the fact that Amazon always displays books “lowest price first,” often means that even if you list a copy at the “best price,” within a few hours or days your price may be undercut. Consequently, you will need to reduce your price as well to stay in competition.
 
Amazon will compete with you. They count on merchants to provide low volume specialty items it doesn’t want to hold in stock, but which allows it to hold maximum selection. If your product line starts selling well, you’ve just told Amazon which item to stock next. Merchants help Amazon identify new niches and categories to enter which can be profitable.
 
Finally, Amazon isn’t cheap and doesn’t work for low-margin products. You’ll pay subscription fees plus per-transaction fees based on a share of your revenue. Then if Amazon decides to stock your product category, you will not be able to compete on either price or service.
 
Summary
 
Content marketing needs to be part of your marketing strategy in some way. Traditional marketing strategies are quickly becoming obsolete and establishing relationship and loyalty through quality content sharing is already proving to be the best approach to break through customer roadblocks. How significant a part and the best strategy to use depend on your product and services and your customers. What are they like? What information do they need? What is the best way to get them that information?
 
Once quality marketing products are made, such as books, eBooks, newsletters, videos, training materials, white papers, etc. the question is whether it might also be advantageous to see those products in the marketplace such as Amazon.com rather through your own website. Again, this depends on what you want to accomplish. Just remember, although Amazon can provide a means for significant income that you might never reach through your own marketing channels, it may not be the best strategy for your business. You are merely the supplier to Amazon. It isn’t building your business in a sustainable way.