Inequality of information.
Find a place where you know something that many undervalue. Having this inequality of information can give you your first piece of leverage.
Look in obscure places.
We’re often fascinated with the shiny things in the internet industry. Many overlook the obscure and unsexy. Don’t make that mistake. If your goal has primarily monetary motivations, look at the unsexy.
Surround yourself with smart people.
Smart people who are successful usually got there by doing the same and have an innate desire to help those do the same.
Information products.
E-Books, screencasts, And anything that can teach others to be good at something is a very lucrative business. Look at guys like Peepcode… they’re killing it. There are also things like
Parrot Secrets, which make $400k a year.
Bonus points if the information helps a person make money (directly or indirectly) or improves their self image. Fyi, this doesn’t mean sell snake oil ebooks. That may get you a somewhere in the 5 figures, but word will spread that you're shit.
Get as many distribution channels as possible.
There is some weird sense that if you build something they will just come. That a few “like”+retweet buttons and emails to editor@techcrunch.com will make your traffic explode + grow consistently. It won’t. Get as many distribution channels as possible. Each one by itself may not be large, but if you have many it starts to add up. It also diversifies your risk. If you’re a 100% SEO play, you’re playing a dangerous dangerous game. You’re fully dependent upon someone else’s rules. If Google bans you, you will be done. You could easily replace the SEO example with: App store, FaceBook, etc.
Be an unrelenting machine.
Brick walls are there to show you how bad you want something. Commit to your goals and do not waver from them a one bit regardless of what else is there. I took this approach to losing weight and fitness. I have not missed a single 5k run in over a year. It did not matter if I had not slept for two days, traveling across the country, or whatever else. If your goals is to become a millionaire, you need to be an unrelenting machine that does not let emotions make you give up / stop. You either get it done with 100% commitment or you don’t. Be a machine.
Get out and be social.
Even if you’re an introvert, being around people will give you energy.
Say no more than you say yes.
I bet almost every web entrepreneur has encountered this: You demo your product / explain what you’re doing and someone suggests that you do “X feature/idea”. X is a really good idea and maybe even fits in with what you’re doing, but it would take you SO FAR off the path you’re on. If you implemented X it would take a ton of time and morph what you’re doing. It’s also really really hard to say no when it comes from someone well respected like a VC or famous entrepreneur. I mean how the fuck could they be wrong? Hell, they might even write me a check if I do what they say!!!!! Don’t fall for that trap. Instead write the feedback down somewhere as one single data point to consider amongst others. If that same piece of feedback keeps coming up AND it fits within the guidelines of your vision, then you should consider it more seriously. Weight suggestions from paying customers a bit more, since their vote is weighted by dollars.
Be so good they can't ignore you.
I first heard this quote from Marc Andreessen, but he stole it from Steve Martin. Just be so good with what you do that you can’t be ignored. You can surely get away with a boring product with no soul, but being so good you can’t ignore is much more powerful.
Look for those who are comfortable.
Who is comfortable in a certain industry? Go in and knock them off their hammock so they spill their mojitos all over themselves. This can also be considered stagnation. Industries often mature and people get comfortable keeping the status quo. Stagnation is the mid-life crisis for a former trend. This is usually a good point to come in with something.
