Here is the inspirational business success story of how one man single-handedly turned old unwanted trash into $500k.
This story began way back when Peter Williams ,a 21 year old business student from Melbourne Australia, saw an opportunity that no-one else could recognize.
Back in 2002 the Melbourne Cricket Grounds Ponsford Stand was demolished to make way for a newer facility, this is when Peter approached the wrecking team and offered to take all the unwanted carpet off their hands for a small nominal fee.
It would have been extra work for the wrecking team to move the huge straps of carpet so they were happy to take Peter up on his offer.
Peter quickly began to cut out the MCG’s signature emblem into squares, he then neatly framed them into collector items!
He was able to extract and frame 900 squares in all!
Peter knew that the MCG was a part of Australia’s sporting history, he also knew that thousands of people had strong emotional connections to the MCG Ponsford Stand.
This inspirational business success story doesn’t end here, because you and I both know that it’s not enough to have an amazing product. You also need to let your target audience know about your amazing product.
The Story-Hungry Traffic Monster
Peter understood that he needed to tell Australian sport fans about his exploits so he went to the local newspaper. He leveraged their hunger for captivating stories into free advertising.
He shared his story and the next morning everyone in Melbourne knew:
- what he had (product description).
- how many he had (limited supply).
- and how much each one cost (pricing).
Each square initially sold for around $560 but after such a high demand, he strategically raised the price for each unit.
Last I checked, an MCG carpet square sells for about $1,250!
Lesson Learned From MCG Case-Study
First off, you realize that opportunity can be found anywhere.
side note: I’ve proven this myself with my printable business case study, you can learn more about that here.
Second, understand your target audience. Peter knew what the MCG represented to thousands of Cricket-loving Australians. He gave them the opportunity to own a piece of sport’s history.
Third, you need to take action! Great ideas are cheap, it’s essential that you test out your ideas if you want to succeed as an entrepreneur.
Fourth, having a great product is not enough. You need targeted traffic to know about what you have and where to get it. Peter understood what his niche audience read every morning so he found a way on it.
Ask yourself, where does your niche audience hang out?
More Digital & Less Physical Way To Profit Passively
Peter William’s case study is very inspiring but it failed to generate passive income. He had to package and send every frame his customer’s bought. I prefer a MORE digital approach. Check out how YOU can make a passive income online with Fusion:
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What Will Your Inspirational Business Success Story Be?
This is not only an encouraging entrepreneurial story, but it’s also a real life case study on how to find money-making opportunities.
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Do you think you can do what Peter did? Let me know in the comments section below.