The Secret to Making the BIGGEST Profits

by tsx
6 replies
This is the topic that I am most interested in this forum. The topic is general, not just about the world of Internet Marketing.

I don't have all the answers, that is why I am here, but I am looking to share my experience and understanding of the topic, and hopefully others can do the same.

One of the issues that I have faced is that often my strategy has been to become the lowest cost provider. I have made good money mind you. In one summer as an undergrad I was making $300-$400 a day just from the local Craigslist, and had people come and literally demand that I take their money (free WSO on this under development). But I was still offering the cheapest price on Craigslist.

The same situation continues today. Although I know I have better products than my competitors, they routinely charge many times more than I do and the customers don't seem to notice. Am I missing something? Are they just better at advertising? Better at conversions?

I am tired of working harder and making less than others!

So here is the issue, what is the missing ingredient that I am missing?
#biggest #making #profits #secret
  • The missing ingredient, is the confidence you need to charge more than you currently are.
    Your habit of being the lowest cost provider will actually backfire on you,
    because most consumers believe that if your competitors are more expensive, then maybe they provide a better service. So raise your prices through the roof I say!!
    (ok, kidding, but seriously, don't be the discount provider on the block).
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  • Profile picture of the author dollar cashflow
    improve on your self image and go where the big customers areas association matters in the world of SUCCESS
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  • Profile picture of the author Malcolm Thomas
    Stay confident, continue to learn, and always be taking action. Be consistent and you can make as much as you hope to make. The sky is truly the limit.
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  • Profile picture of the author Stuart Walker
    You ever heard about the Joshua Bell story?

    He's a world renowned violin player who charges thousands of dollars for an hours show. The Washington Post ran an expirement where they had him busk in the Washington DC Metro Station one morning paying some of the finest classic music ever played. In that hour no one paid attention and he earned only $33. They looked at how it's possible he can go from earning thousands of dollars an hour to $33 per hour and concluded it's all about 'frame'.

    If you want to know more about 'frame' and how you can charge more then read this PDF from Sprout Social: http://www.quicksprout.com/files/moneyebook.pdf
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    • Profile picture of the author tsx
      Hilarious idea, I will check this out. We are having a problem with selling our SEO services. We are the highest ranked SEO website in the Vancouver, Canada area, but some people tend to go to lower priced services offered by "that guy" and they when their website rankings are totally messed up they come to us hoping to fix it. We looking to find ways to deal with this issue.

      Originally Posted by RockingLastsForever View Post

      You ever heard about the Joshua Bell story?

      He's a world renowned violin player who charges thousands of dollars for an hours show. The Washington Post ran an expirement where they had him busk in the Washington DC Metro Station one morning paying some of the finest classic music ever played. In that hour no one paid attention and he earned only $33. They looked at how it's possible he can go from earning thousands of dollars an hour to $33 per hour and concluded it's all about 'frame'.

      If you want to know more about 'frame' and how you can charge more then read this PDF from Sprout Social: http://www.quicksprout.com/files/moneyebook.pdf
      {{ DiscussionBoard.errors[8192995].message }}

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