I once had the good opportunity to speak with an 8-figure marketer at a conference. It was a great learning experience for me.
We talked mostly about making money as could be expected. In this blog, I want to share what he said about the truth of getting rich.
According to him, “People fail at making money because they focus on making money.”
Huh? I mean, I have often heard the phrase “follow the money”. So, is it wrong?
Well, not really.
In his words:
“Making money is art. If you want to make money, know where the money is and then don’t run at it. Instead, take your time and build the path to reach there first.”
Customers are like cats. And cats don’t like pushovers.
Don’t be one. Nobody likes to be sold. But everyone likes to buy.
He said, “Dating is a lot like selling. If you want it more, you are doing it wrong. What you should be doing is making the other person want it MORE.”
What you should be doing is meeting your potential customer where they are in their buyer’s journey and lead them slowly but surely towards the ultimate goal: conversion into a sale.
Remember though, the sale is the ultimate result but it is not what we seek.
We seek to help people in their desire to be better or alleviate their fear of something.
The idea is to give value, value and MORE VALUE. You must understand that even when you are selling something, you are essentially adding value to your customers’ lives.
As long as you keep on providing MORE value, you will be in business.
What most people forget is that money does not grow on trees. If you want to make money, you have to “earn” it.
And how do you earn it? By giving something in return.
It’s as simple as that.
Repeat this with me:
TOTAL VALUE = TOTAL MONEY
Before I explain the above formula, let’s answer this first.
What is Value?
Value is “anything” that a person wants.
For a homeless person, it could be a living facility. For a jobless person, it could be a business opportunity to make money online. For a teenager looking for entertainment, it could be video games (or p*rn). For a pregnant woman about to have a baby, it can be a book on parenting. Value is whatever your prospect wants in their life.
Value is the tangible outcome you promise to bring in their lives. Forget about need. Go chase WANTS.
The more value you generate, the more money you make.
How? By serving more new customers or providing additional value to your existing customers. Sometimes, both. For example, you can reach a million by selling $10 t-shirts to 100,000 people. Or, you can sell $1,000 service to 1,000 clients. The choice is yours.
I would always remember what that entrepreneur told me about the first step to making money. It’s to know your “Big W”. By that, he meant WHY I want to start a business.
He said, “We are programmed to be robots. Get good grades, get a good job, get married and have kids, and DIE. When you are breaking this pattern, you need to have a solid reason to do so. Otherwise, your whole being will revolt. The first person to sell is always yourself – on this new, exciting journey ahead of you.”
Here’s a nice video on how to get rich as an entrepreneur.