I learned a very important lesson yesterday... Monetizing....
Monetizing in simple terms is how to make money.... Either u have an idea or a specific skill or any object; n u have to make money from it...
A very popular example for this would be google. Before google, there were a lot of search engines, but searches were done as free services. Then google came and it taught the world that money can be made simply from conducting searches.
Monetizing is one of the most impostant skill one should have, if he wants to be a successful entrepreneur. Enterprise needs money to survive, like humans need food and water. A lot of people have ideas, very good one infact. The world is full of intelligent people, but very few know how to monetize them.
Let me give another example of excellent monetizing. An IIM grad started a firm in ahmedabad. They went from house to house and collected left over food. The food was then distributed to poor people at the price of Rs.1 per person. What an idea to do social service and save waste at the same time, one would think.... But the firm is not just doing social work, it is also making money in the process. Now one would think, how much can one earn by collecting one-one rupee.
The firm's been doing this work from 4 years. Can u imagine what was the turnover of the firm for this year? It ran into crores.... Who would have thought that!!!
Surely monetizing is a very important thing. Atleast for me, it's the first thing in my to do list.
