FF #034: The Best Money-Making Advice I Ever Got
There are things in life you hear many times...
But for whatever reason it doesn't click until someone you respect tells you.
Such is the case with this piece of advice a mentor gave me 5 years ago.
If I had done this sooner, I'd have a few more bags of cash laying around and a few less white hairs.
I'm going to share the advice he gave me so you won't make the same mistake I did.
This conversation came up when I was still in the agency space doing lead gen/outbound prospecting as a service.
I was working with SaaS startups and while I was making good money... it was sooo much harder than it needed to be.
Like pushing a boulder up a steep mountain.
I asked my mentor what I could do better and he dropped a heater on me that I'll never forget.
Me: "I'm getting clients and kickin a$$ for them but it's a grind. The clients are demanding and expect miracles in unrealistic timelines. Should I change my service? Change my niche? What am I doing wrong?"
Him: "The problem isn't your service. It's the clients you choose to work with in your niche. If you want to make big money with the least amount of effort... you should work with people who have money and help them make more of it."
Me: "What about all the people on the lower end though? They need help more than the people who already have money, no?"
Him: "Yes. And you can help them... if you don't care about making money or your sanity."
Me: "Lol hmm so what are you saying I should do?"
Him: "I'm saying you should stop targeting start-ups and start targeting grown-ups. Clients who are already successful and just want to be more successful."
Me: "Will they work with a small fry like me?"
Him: "I've worked as an independent consultant for some of the biggest companies in the world. College kids get hired fresh out of school by multi-billion dollar companies and get $50,000/yr+ salaries. Why do you think they won't hire you if you have a service proven to work?"
Me: "You're right. So help people with money make more money. Got it sir."
As soon as I applied this advice I started getting paid higher fees and making more money while doing less work.
The clients became so much easier to get results for. And their expectations were more realistic.
Recently I applied this advice to my own offer again.
I considered launching a $50/mo membership for more beginner level folks.
But instead launched a $30,000 1:1 offer targeting the high-end and sold 4 spots in a couple weeks.
These clients are all doing $400,000 - $5,000,000 a year and are a breeze to help.
At $50/mo I'd need 2,400 members to match that. And it'd be far more difficult helping them because they would be newbies.
I still have beginner level offers and put content out to help them.
But most of my time and energy goes into helping people with money make even more money.
Something to chew on.
That's it for today's Friday Fire action section.
Hope you found this useful 🤙
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