A Story I Read Today That Changed My Life

On 24th January 1948, a man called James Marshall accidentally discovered gold at a mill in California. The news immediately attracted plenty of attention and within the next 12 months, some 300,000 gold-seekers flocked to California to get their fair share of gold.

At the height of the gold frenzy, a man called Samuel Brannan was widely known to be the First Gold Rush Millionaire.

Did he find gold worth one million dollars?
No.

Here's what he did:
He cleverly bought up all the picks, shovels and pans he could find, then ran down the streets of San Francisco shouting "Gold! Gold on the American River!"

He paid 20 cents each for the pans, then sold them for $15 apiece. In nine weeks, he made $36,000 which is $370,000 in current times.

What can we learn from this story?

Basically this: when there is huge demand for a product, the greatest opportunity lies in providing tools and services to meet that demand.

It's such an important business concept that it's worth repeating.
"when there is huge demand for a product, the greatest opportunity lies in providing tools and services to meet that demand."
The California Gold Rush had 300,000 flock to California in 12 months in search for Gold but the man who provided tools and services to meet that need became its first millionaire.

The Gold Rush is over but here comes the next great opportunity.

Steem Based Dollar is the Gold Rush of the 21st Century. It is big business and here's a golden opportunity to make real passive income from it - STEEMIT!

Thank you for reading. All the best - @olisa.

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