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The Secrets Used To Make Millions From Social Media

Selling or reselling products that you can make or buy for 10% of the sale price is the way to go. My favorite is items that you can buy for $10 or less and sell for $100 or less. My businesses like that have a 90% gross margin.

The only thing better than that is information based products such as what Tai Lopez sells. The cost of those “courses” is near $0 and when he sells them for $67 then about $1 is cost for the servers and the rest is all profit. Of course, you have to invest a lot into marketing those information and education based products too. Tai spends over $2M a month on advertising.

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“I, Pencil” is an essay by Leonard Read. The full title is “I, Pencil: My Family Tree as Told to Leonard E. Read” and it was first published in the December 1958 issue of The Freeman. It was reprinted in The Freeman in May 1996 and as a pamphlet entitled “I… Pencil” in May 1998. In the reprint, Milton Friedman wrote the introduction and Donald J. Boudreaux wrote the afterword. Friedman (the 1976 winner of the Nobel Prize in Economics) used the essay in his 1980 PBS television show Free to Choose and the accompanying book of the same name. In the 2008 50th Anniversary Edition, the introduction is written by Lawrence W. Reed and Friedman wrote the afterword.

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