In a State of Financial Flux
There’s so much financial flux going on. I see many of you looking for opportunities in this changing economic world, which is why I’m focusing this show on how to make money quickly – the legitimate way.
People Scamming Others in Times of Crisis
Because we’re in times of crisis and uncertainty. Unscrupulous people are attempting to scam those who are looking for a way out. One morning, I woke up to find out that we had scammers stealing my Instagram photos and trying to pretend to be me. They even attempted to scam people out of money.
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Steps to Take to Create Income
Step number one: Find a problem to solve.
This crisis is terrible. No one wants to see human suffering, and millions of people out of work. However, where there’s a crisis, you’ll find significant opportunities as situations create a multitude of problems.
If you’re able to find the solution to some of those problems, you’re going to make money. For example, if you are a teacher who can help parents homeschool their kids or provide tutoring, you are sitting on a gold mine right now! Many parents are looking for help with implementing lesson plans for their kids.
Do you teach investing? I have a few colleagues who teach how to invest in the stock market. They’re making more money than ever during this period. Back in March, the second most Googled word after Coronavirus was investing!
Business coaches are taking off right now because so many people want to start online businesses. Whether they are assisting with marketing, sales, or they need help pivoting. One of my mentors made a million dollars in a month on online classes!
Dealing with Objections from Potential Clients
No matter what vertical of business you choose to dive into, you have to deal with specific objections. One big question I hear is, “How do I sell in a time of crisis?” With a high uncertainty level, it can be harder to convince a potential customer to spend money on your service.
Sell at High Ticket Prices
I would go for high ticket items because it’s going to be easier to sell. If you solve a bigger problem, it’s going to cost them a hell of a lot more money, or you can charge a hell of a lot more money.
Reach Out to Your Network
Once you have a business plan in place, start reaching out to everyone you know. If you’re starting out in your new business, you will have to put more effort into getting your business off the ground. Email and message people on social networks, letting them know you are offering your services or product and the problem that you’re going to solve for them.
Start using LinkedIn sales navigator. Insulate your sales, for those of you who are ready for that. And then finally, sell the fucking thing.
Variables Stopping You From Making Money
The most significant barrier that keeps people from making money quickly is that they think the product or service they are offering needs to be absolutely perfect before launch. It’s complete bullshit number one because it’s never going to be perfect. Number two, frankly, clients don’t give a shit about your perfectionism. They just need to know that you can solve a problem.
Get the solution out into the world quickly! People who have big problems are willing to pay a lot of money for someone to solve them. Let that someone be you!
Your Homework to Make Money
I’m going to start giving homework on these podcast episodes. I want you to think about the big problems being created right now? With everything we have going on, what kind of work experience and toolset do I have that can help others solve their problems? Create a set of solutions to three issues that you’re seeing. Get creative, start brainstorming, and work through your list of ideas.
Once you’ve made a list of solutions, make sure to check out our class, How to Start a Coaching Business in 2020.