How to make more money when you have a small number of customers

Most marketers spend their time trying to figure out how to attract a bigger number of leads. But there’s a better strategy that can product better and bigger profits, while attracting a smaller number of potential customers. In this edition of MOBE Daily, we’ll look at how it’s possible to make more money with less customers. To keep up with the latest in this crazy entrepreneurial journey, connect with me [here.](41475b/ct0_0/1?sid=TV2%3AJ5aA2I2Ax) [MOBE DAILY](41475b/ct1_0/1?sid=TV2%3AJ5aA2I2Ax) [] [START YOUR BUSINESS](41475b/ct2_0/1?sid=TV2%3AJ5aA2I2Ax) [] [SCALE YOUR BUSINESS](41475b/ct3_0/1?sid=TV2%3AJ5aA2I2Ax) [] [GROW YOUR WEALTH](41475b/ct4_0/1?sid=TV2%3AJ5aA2I2Ax) [] MOBE Daily #235 "No matter what your product is, you are ultimately in the education business. Your customers need to be constantly educated about the many advantages of doing business with you, trained to use your products more effectively, and taught how to make never-ending improvement in their lives." ~ Robert G. Allen Hey, This photo to the right was taken last night around 10pm... it's the entrance structure building here on Serenity Island, and it just got completed - the day before guests arrive for our first Diamond Mastermind here (they actually arrive in 28 minutes). [Keep up with the latest on instagram](41475b/ct5_0/1?sid=TV2%3AJ5aA2I2Ax) We started renovating this resort to get it ready for the masterminds in January - so we had 5 months. Ideally, we needed 7. There was a lot to in a very short amount of time. One of the things we will stress to the clients coming (who are mainly attending to launch their marketing brands and create video marketing assets) is that imperfect fast action beats slow perfect action, every day of the week. Always remember that. The entrepreneurs who have the greatest success are often just much more willing to execute fast and not have everything be perfect. They get immediate feedback from the marketplace, and improve from there. ========= Here’s a marketing joke: “What’s the quickest way to become a millionaire? Just get a million people give you a dollar!” It’s a joke because, barring some kind of freak crowdfunding fluke, actually getting a million people to give you a dollar would cost you well over a million dollars. However, it's actually easier to get small groups of people to give you much more than a dollar. It's easier to get 10,000 people to give you $100 each. In the same way, it's easier to make a few $5,000 sales than to make thousands of $50 sales. In reality, you can make more money selling big-ticket items to smaller numbers of people. It’s one of the reasons we built our own high-ticket product line around this model. It's all about target marketing – serving niche markets. The more targeted the niche, the more money you can make, within certain limits, of course. The goal with your marketing is to find the right target marketplace of potential customers who are most likely to want the types of products and services you offer. How do you attract the right kinds of prospects who will spend the most money with you? When you're throwing your fishnet out there, you want to attract the right kinds of fish, the ones who are most likely to buy your product from you. You don't want to cast your net too wide, because then you're wasting your money getting leads you can't convert. Your goal is to get the largest number of the highest-qualified leads for the products and services you sell. The emphasis here is on the word "qualified." You may end up with smaller numbers of people in your net, but they're more likely to buy from you. Quantity does not mean quality! There's no problem generating huge numbers of leads if you really want them, but if you don't make an effort to trim that number down to the highest quality leads, you're shooting yourself in the foot. You’ll waste good money chasing bad leads. If you can't convert your leads, you're not making any money. One way to make sure your leads are qualified is to charge money on some kind of introductory offer. A lead that pays is a much better prospective customer than a free lead, or someone who merely opted into your sales funnel. That's a good model that can be directly applied to just about any business. People vote with their wallets, and that's one of the ways they qualify themselves. A paid prospect pays attention. Think about your own experience being a customer, or potential customer. If you’ve paid money to someone, you pay attention when they call, send you an email, or drop a letter in the mail. Contrast that to the way it feels when you get a cold call in the middle of dinner. If you want to attract customers who are willing to spend lots of their money with you, you must give up the idea that you need millions of customers who give you small amounts of money. Instead, think about attracting a smaller group of better customers who are willing to spend premium money for the premium products and services you offer them. That is the secret you can use to make more money from fewer people. [] [] [MOBE Daily#235-1](41475b/ct6_0/1?sid=TV2%3AJ5aA2I2Ax) [] Your Attitude is Your Altitude Your attitude either draws people to you or repels them from you. Attitude plays a bigger part in your success than you may even realize. If there's something about your surroundings that you don't like – whether it's the people you are surrounded with, your financial situation or your lifestyle – there's a good chance that your attitude is to blame. In [this video](41475b/ct6_1/1?sid=TV2%3AJ5aA2I2Ax), filmed at the [Real Estate Investing Summit](41475b/ct7_0/1?sid=TV2%3AJ5aA2I2Ax) during the [Titanium Mastermind](41475b/ct8_0/1?sid=TV2%3AJ5aA2I2Ax) in the Dominican Republic, Roger Salam talks about the importance of attitude. [] [] [MOBE Daily#235-2](41475b/ct9_0/1?sid=TV2%3AJ5aA2I2Ax) [] Why Trust is Key in Marketing In marketing, you have to get people to know, like and trust you before they will buy anything from you. If you asked a total stranger to marry you, it's very unlikely they'll say yes. For the same reason, you can't expect people to buy from you if they don't trust you yet. In [this video](41475b/ct9_1/1?sid=TV2%3AJ5aA2I2Ax), filmed at the [Super Charge Summit](41475b/ct10_0/1?sid=TV2%3AJ5aA2I2Ax) in London, Carolina Millan talks about how she wins over her customers' trust before making a sale. [] [] Are You An Existing MOBE Client? Want To Win A Free Holiday On My Private Island In Fiji? [Get all the details here.](41475b/ct11_0/1?sid=TV2%3AJ5aA2I2Ax) [] [] [MOBE Daily#235-3](41475b/ct12_0/1?sid=TV2%3AJ5aA2I2Ax) [] 3 Tips for Harmonious Business Partnerships A good, harmonious business partnership happens when you have a team of people who share the same vision but bring different and complementary skills to the table. Business partnerships can also turn ugly. What if you and your partners have different ideas about where to take the business? You must take care when bringing on a new partner, so that the partnership will stay harmonious into the future. In [this video](41475b/ct12_1/1?sid=TV2%3AJ5aA2I2Ax), filmed at a Bonus day during the [Titanium Mastermind](41475b/ct8_1/1?sid=TV2%3AJ5aA2I2Ax) in the Bahamas, Drew Innes introduces 3 tips for harmonious business partnerships. [] Talk soon! 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