Five People Who Turned $1,000 into $1 Million

Most millionaires are self-made millionaires, but becoming one is something that still seems out of reach for most people.

In many cases, we dismiss the idea of building a million-dollar business because, well, you need a lot of money for that, right? You've got to spend money to make money, don't you?

As it turns out, you don't really have to spend that much.

Via www.businessinsider.com

Warren Buffett’s 4-Word Secret to Business Success


From Warren Buffett's annual shareholder letter, here's a gem:

“Buy commodities, sell brands” has long been a formula for business success. It has produced enormous and sustained profits for Coca-Cola since 1886 and Wrigley since 1891. On a smaller scale, we have enjoyed good fortune with this approach at See’s Candy since we purchased it 40 years ago.

It's that simple. Buy a cheap good, create a brand around it, sell it for more. Voila!

Via www.businessinsider.com

Innovation Excellence–Southwest Airlines Social Media Strategy

Social Media Takes People, but Not as Many as You Think

Southwest Airlines is huge online:

* 12 million monthly visits to its website

* 1 million Twitter followers

* 1.3 million Facebook likers

* 29,000 reviewers on its Travel Guide

So how many people does it take to handle that volume of activity?

Try five . . .

Via www.innovationexcellence.com

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