I’ve heard a lot over the last few months about the popularity of knitting and craft related hobbies. I’m not sure what the exact demographic is but my guess is that it appeals to females age 35 and up. One of my business acquaintances actually started this site and brought in $15,000 in sales in the first 15 days of launching the site.
Pretty amazing for such a simple, plain site, but it goes to show that if you market to the right target audience, growth will come quickly.
To further back up this point, I read an article today on the Freakonomics Blog (by the way: it’s a great book I will review soon) titled “Bank Cracks Down on Wily Yarn Merchant”. The point of the story is that yarnharlot.ca raised over $120,000 in less than 3 days causing their bank to shut them down due to suspicion of illegal activities. This causes me to ask the question… why aren’t we all in the knitting and crafts business? Looks like that’s where the money is. An important take-away from this post is that motivated entreprenuers can become successful in a niche if they market to the right audience.
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I’ll bite.
How do you make money giving away free books?
Steve,
It takes excellent marketing. The reference I made was to Dan Raine’s $15k challenge blog. He took about 15 days to create the backend site and build a mailing list; and then another 15 days of marketing. You can find it here: http://www.15kchallenge.com/blog. Good luck and keep me posted. Of course it’s much easier said than done.
Best,
John