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The 2 Secrets of How to Make Money

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The Methods to Making Money

2 Secrets to Make Money

Let me be clear. You can make money by talking to every person you run into and pitching them your business. Just by sheer numbers, that will work, eventually. However, if you know these 2 secrets of how to make money, it is a formula, that, if followed over a period of time, you will make money, and lots of it.

Who Doesn’t Know the Methods of Making Money?

I have been saying this and saying this but few seem to listen so I will be very, very clear in this post on how to make money. The value you put into the marketplace will dictate if you should be making more money or not. In this realm of online and or network marketing, those that put out more value, simply make more money. After I describe what value is and how to gauge it, I have a quick exercise for you at the bottom of this post. (Exercise #3)

Secret #1 – Who is Your Target Market or Perfect Person?

Yesterday I spoke on sales and marketing at an event where each attendee paid $1,500 per person to get better at sales and marketing. When I asked this question, not one person in the audience could answer it directly. In ALL of your marketing, you should have a target that your marketing speaks to, and if you don’t, that means you are trying to talk to everybody and if you try to talk to everybody you will attract NOBODY. How can you possibly build a business where you don’t clearly know who you are trying to attract? In your pursuit of money, this is a critical step. Know exactly, the more specific the better, who you WANT to work with and write all your marketing to that perfect prospect. See exercise #1 for help with identifying your perfect person.

Secret #2 – Solve Their Problems

You may have heard me talk about value in the marketplace. Well, what is it exactly? I see value in the marketplace as solving the problem(s) of your perfect person. After identifying who your target market is, choose to create content, widgets, videos, audios, solutions to help them solve their problems. This makes you more VALUABLE because you have given them value. This can be done with events, webinars, blogs, articles, etc. Some target markets have a lot of pain that you can talk to, others may be as simple as how to market their product. Every niche and market has problems, you have to be willing to attempt to solve them. In exercise #2 I give you a way to help you with solving your target markets problems.

Methods of Making MoneyExercise #1 – Determine Your Target Market/Perfect Person

Who do you really like to work with? Who do you resonate with and are able to talk with easily? If you had a magic wand and could build a team of one specific type, who would that be? Answer these questions with your best answer and then dig deeper: What books do they read? What are their interests? What do they watch on TV? What events do they attend? Try to think about a specific person not just a group. The person will be similar to the group.

Exercise #2 – What Are Their Problems or Desires?

What does your perfect person struggle with? What do they need help with? What are their fears? What training might they be interested in? What would make their lives easier? What unfulfilled desires might they have?

OK, did you do both exercises? The above two exercises should dictate your future marketing. I cannot stress how important this is. Some people paid a lot of money to hear how to do this from me yesterday, I encourage you to spend time on these two exercises. Perhaps exercise number 3 will help..

Exercise #3 – Why am I not making more money?

This is the question I get all the time. Ray, I am working my butt off, doing lots of stuff but not making any money, why not? Here is the question to determine if you even should be making more money. How many problems did you solve of your target market last week? The week before? The week before that? Most people only contribute carbon monoxide to the marketplace and they wonder why they are not rich. If you switch your focus of wondering why to let me solve the problems of my target audience, you WILL be making more money.

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Ray Higdon
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41 Comments
  1. Makes total sense to me Ray. I know I have a few things I need to tweak to reach my perfect person still. This philosophy goes back to even the Jim Rohn days when he taught that you get paid based on the value you bring to the marketplace. Thanks for reminding us about this and taking it a step further in figuring out our perfect person to market to…

    You rock!

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    Ray Higdon Reply:

    Thanks bro, you da man

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  2. It sounds so simple (and it really is). I personally heard this same things before but it never sank in. I listened and said “yeah, yeah I got it” and then went back to doing the same things such as talking to everybody.

    It takes a little bit of work to figure out who exactly you want to work with and what their particular problems are. Everyone out there has their own way that they became successful, but I think it’s up to each of us to find our own way.

    Duplicating exactly what someone else has done is like trying to solve that same problem that is already solved by another. Like trying to reinvent the wheel.

    Thanks for another home run!!

    [Reply]

    Ray Higdon Reply:

    Most of us have heard it before, but most did not do the exercises! Thanks bro!

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  3. Great post. I loved the fact that you left it open ended. Did not detail how you would market to the target customer/market as that will vary. I also love the way you synthesize ideas and make the sound new. I read a siimilar idea in a book by the late John Kalench, but your post opened my eyes to many possibilities.

    Keep up the good work!

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    Ray Higdon Reply:

    It is in almost any decent marketing book, nothing new for sure, just hope the exercises get some people in action!

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  4. Awesome post! A winner indeed and a game changer as well.
    Thanks Ray

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    Ray Higdon Reply:

    Thanks Tony!

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  5. Powerful simple post as many of yours are Ray.
    I think I’ll make a post out of my answers to number one and two.
    You’ve slapped me across the head and I luv it (at least it’s not my wife this time)…haha…Since there is a ton to think about answering those two concerns.
    So I’ll implement the IBM moto which is “think” and tweek my marketing with the answers.
    Thanks for sharing Ray.

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    Ray Higdon Reply:

    Haha, rock on bro!

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  6. Very good points Ray, I know we have to make it about them. And we have to like you mentioned find out who we are the most comfortable working with and not letting just anyone into our business. When I first started I had a tendency towards just sponsoring anyone and everyone that would join me. Now I work with who I want, and who it’s RIGHT for!

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    Ray Higdon Reply:

    Yeah man!

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  7. Your customer avatar. Great subject. Obviously you didnt freeze up here in the heartland sure you appreciate being back in Florida that much more.

    Thanks for sharing.

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    Ray Higdon Reply:

    Haha, thanks Dan!

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  8. Great post Ray, I used to teach this to my graphic design students, and then after they defined the target, it was all in the presentation. BAM!

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    Ray Higdon Reply:

    Nice, very cool Val

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  9. Great post Ray. I’ve heard this perfect prospect called an Avatar. Write it down and give him or her a name like Bill or Susan. Then when you write, you are writing to Bill or Susan. It actually makes writing easier since after a while you know Bill and Susan very well and know how to talk to them.

    Thanks again for the great info.

    Hale

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    Ray Higdon Reply:

    Well said Hale!

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  10. Ray, I think we are often wasting our time, energy, and resources when we are not specifically targeting the audience we wish to help.

    I appreciate your leadership and enthusiasm for your work!

    Brandi

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    Ray Higdon Reply:

    Thanks Brandi, you are awesome!

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  11. Awesome Post Ray! Everytime I read an Excersize my eyes opened and I slapped my forehead saying: “That’s it” I love the Vibe i get when you write! Thanks Ray so much VALUE here! Keep it coming! :)

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    Ray Higdon Reply:

    Thanks so much Andy!

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  12. Hey Ray could you make it any more simpler lol . This is definitely a great post that we all need to see again over and over and over again.

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    Ray Higdon Reply:

    Thanks Sherman!

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  13. Excellent post as usual. So tell us Ray, who is YOUR Avatar? Target customer?

    Here is my experience in my two markets (insurance / Numis):

    For my insurance, it is the 35-55 year olds whose parents are already in retirement. I found it easier to sell insurance to those people when I asked them if their PARENTS had life insurance, considering they may be on the cusp of benefitting from that. By offering to help them with their retired parents (providing value in their area of concern), they suddenly realize they need to address this issue themselves.

    I will admit though, for Numis, I have not quite pinned this down – or should I say, I keep vasillating depending on the day.

    Initially I was just telling family and friends – we all know that doesn’t work, or work well.

    Then I tried talking to those out of work; funny, I found so many of them were quite content doing nothing and getting thier unemployment checks and food stamps. What it DID point out to me that TIME AND HAVING THE FREEDOM TO HAVE LOTS OF IT TO DO WHAT YOU WANT was premium and that is why those people preferred to pick up that unemployment check and government cash assistance than go back to WORK for a paltry paycheck. They were preferred getting the paltry check from the goverment and having TIME. I stopped wasting my time with this group.

    Currently, I am going after those like myself who have an entrepreneurial mindset. So far, I feel as if I am the planting seeds phase of my harvest to come, so I am willing to wait patiently to see if this pays off. In my case, I found you because (a) I was already buying gold and silver and found it was the ONLY investment category that I did not lose on in the recession(b) as an entrepreneur I looked for an opportunity in this industry. Not sure if there are many of me out there, but I am looking for myself. So my avatar that I am seeking are people like me.

    I have come to decide that running multiple tasks / businesses is like having sextuplets. If a woman gives birth to ONE baby, it is the biggest it can be. The moment she has twins or more, the babies individually get smaller. Similarly, my divided attentions are like dividing my energies between many babies.

    My husband travels all week every week so I am kinda chained to the house with my two young kids, and my daughter’s kids – I don’t get out of the house much -which is a BIG problem for me. When I do get out, it seems insurance takes that energy.

    Thanks for this post and for the thoughts it got my mind working on.

    Anyway, I plant seeds as I go, I follow you and David and do what I can, and keep a tickle file for what I will get around to as soon as time permits. That being said, I am working hard at website SEO to deliver what my inability to get out and develop personal relationships can.

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    Ray Higdon Reply:

    Because I create content daily, my target is pretty easy to figure out, what do you think? =)

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    Trudy Beerman Reply:

    Well honestly Ray, I think your net is pretty widely cast. You clearly have a specific angle toward those already in MLM and you speak directly to them in their language.

    Then you have an angle to those inclined to entrepreneurship but lacking in the skills to get the results – and you educate specifically to that need.

    Then you also cast a generic net to those who need an income but may not have considered entrepreneurship for their second or supplemental income. You speak to those too. So when I read your many blogs, the message may or may not be relevant to me personally, but may be relevant to help a team member, or relevant to a potential prospect.

    So if I were to answer the question I asked of you, who is your Avatar, the answer would be – that you have at least 3 and you approach each with the relevance to that market.

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    Ray Higdon Reply:

    Very good. When I first started out I didn’t have as wide a net, as you grow a list and following, you can add marketing lines and expand

    Chris Medlock Reply:

    I’m just going to throw this out there.

    Ray’s Avatar could be new, struggling or inexperienced entrepreneurs that are open or searching for a way to increase their earning potential without interfering with what they are currently doing.

    Sounds like his opening recruiting line.

    Sounds like a great pick up line too! lol!!!!

  14. Great post Ray lots of good information for all marketers thanks for sharing!

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  15. As always you’re top notch Ray! Makes a lot of sense that you have to be providing solutions to others and sometimes your business might not be the solution for them, but the value you bring to the table is. So important to stay positive and that’s what you’ll attract. Thanks for sharing the goods Ray! You Rock!

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  16. Great post Ray, concentrate on solving problems and the rest will take care of itself.

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  17. Great Post. As network marketers our time is valuable, and this post makes it clear what NOT to waste time on! We are problem solvers … this is our job. :)

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    Ray Higdon Reply:

    Absolutely Margaret!

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  18. Hi Ray,

    Again thanks for the post. This imformatlion is going to help alot of people. Sometimes people concentrate so much on how to present their business/product/service that they forget to target the right people.
    Thanka gain,
    Norman McCulloch

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  19. Great post, Ray. It really resonated with me when you mentioned the importance of having a target audience. It’s so true that if you go about targeting everybody that has a pulse, you will attract nobody.

    Don’t waste your time trying to figure out a solution if someone else already has the key to solve the problem. Just find someone who has money and match & model them. Find out how they did it and emulate them.

    Thanks for sharing!

    [Reply]

  20. I agree that it is important to pick a target market. I think Network Marketers fail to do this because so many think that its all about numbers so the key is to expose their opporunity to as many people as possible. This strategy works but requires alot of time and effort. Plus since you will always get more people this way who are not interested you must also be prepared to experience alot of rejection.

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  21. Great Man !
    Love your posts and now I understand how I can make more money – just solving more problems !!

    Looks realy cool !!

    [Reply]

  22. Hey Ray,

    I would have to totally agree with you on this – targeting a specific market and solving their problem would have to be the best form of value that anyone could provide to the market place.

    Some great exercises and a well written post!

    Billee Brady

    [Reply]

  23. Great,Thanks!

    [Reply]

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