I’m starting a new business. And I want you to be my partner.
Check that, I want you to run the entire thing – what was I thinking?
I’ve come up with a business model that may seem crazy, but I know it will work.
Here’s how your new business will operate:
First, you will “invite” candidates for your services to “apply” to you, paying an application fee of, say 75 or 100 bucks.
Then, you (and a panel of anonymous experts) will “evaluate” the candidate, to tell him or her whether they qualify. Sadly, only about 10% meet your standards, even though they drop thousands on test prep. and other consultants to make them more attractive to you.
Worried? Don’t be – the good news is that you have tens of thousands of applicants for only 2,500 spots!
If the stars align and you decide that a candidate IS a good fit for your services, you then inform him, on an eagerly awaited, pre-determined day, that they have earned the privilege of paying you $250,000!
You brace yourself for their shock and outrage…
Instead, they are DELIGHTED!
A funny thing happens next – your new customers go out and buy items with your logo: sweatshirts, stickers for their cars, pennants for their walls and other indicia that they’ve “bought in” to your business and joined an exclusive club (cult?).
In other words, they’re advertising your business for free! Actually, they’re paying YOU to advertise your product!
One more thing – don’t worry about what you’re actually providing as a service. You’ll be pleased by the complete absence of any rigorous analysis by your prospects about the measurable quality of your product.
Why? They assume that you must be top notch because you are sooooo selective about who you accept as customers!
Otherwise, why would your business be in such demand?
I think you figured out what I’m talking about.
If you see the absurdity of this, but feel trapped and don’t know where to turn, this will help.
– Andy Lockwood
P.S. Parents of juniors and sophomores need this advice.