i love this..Selling high ticket to the super rich

RyanLima

11 years ago

Thats a pretty cool Gold Plated Lambo. Nothing like a car that wont depreciate in value

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Steve B

11 years ago

Agreed, and David talks about being creative and building a brand.

Anyone in IM can be creative and build a brand.

Can anyone follow in David's footsteps? Yes and no.

He is a special entrepreneur and has skills that probably one in a million possess.

And . . .

His father created the business that David took over. Most of us don't have that head start!

Steve

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Viktor Vedmak

11 years ago

Originally Posted by Steve B

His father created the business that David took over. Most of us don't have that head start!

I agree.

Very few people make it really big starting out totally from scratch, without pre-existing finances and connections.

One billion sounds like a lot, but Lamborghini's I was looking at seemed to be 500k+ each, so that is really not all that many sales.

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Dash Evra

11 years ago

Originally Posted by Viktor Vedmak

I agree.

Very few people make it really big starting out totally from scratch, without pre-existing finances and connections.

One billion sounds like a lot, but Lamborghini's I was looking at seemed to be 500k+ each, so that is really not all that many sales.

The number of item he sold doesn't matter. What matter is how much profit he makes per year and the connections he makes.

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Viktor Vedmak 11 years ago

Originally Posted by Dash Evra

The number of item he sold doesn't matter. What matter is how much profit he makes per year and the connections he makes.

If you have enough money to invest as Venture Capitalist you cover both profit and connections.

This guys profit is directly related to what his father left him and under saturated demand for one brand of vehicle. If he is barely selling 2000 units (edit: in SEVEN YEARS!), then he is not much of a salesman.

Person able to sell 5 times that much of a different product might be able to scale their business up, eventually surpassing "1 billion in sales". Selling couple cars a year that are already overpriced leaves very little room for growth. This specific 26 year old is neither an inspiration nor motivation, just privileged kid no different from Bill Gates kids.

Plus, credit this particular kid got is for all sales every single one of his employees got. I believe in giving credit where credit is due, but there is no need to give credit to some random rich kid.

Edit: In comparison heres who does deserve credit for making it, although he was privileged to begin with: Mark Zuckerberg! He can take credit for changing way people behave online. That is type of thing that not only made him rich, but that will have his name in history books for long, long time.
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ronrule

11 years ago

The location helps too... Miami is one of those places where you can get away with having a Lamborghini as your daily driver. Exotic cars are as almost as common down there as Corvettes are throughout the rest of Florida.

I used to know a guy who ran an exotic rental company down there - he had a bunch of regular customers who would rent by the week, then bring it back and swap it for another one. This would go on for months. He didn't ask any questions.

That said ... riding Daddy's coat tails and then using the Internet to build some name recognition is hardly the stuff of legends. I think his greatest accomplishment is continuing to do well with it, instead of running it into the ground like most legacy transfers.

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WillR

11 years ago

Originally Posted by ronrule

That said ... riding Daddy's coat tails and then using the Internet to build some name recognition is hardly the stuff of legends. I think his greatest accomplishment is continuing to do well with it, instead of running it into the ground like most legacy transfers.

I've never understood why people say that whenever someone is successful with a business that has been inherited or passed down to them.

I bet you that guy has worked his ass off way harder than 99% of people in this forum and deserves every bit of success he has achieved. You don't keep growing a business by inheriting something and sitting on your thumbs.

He deserves just as much praise as if he had built the whole thing from the ground up. Keeping a successful business going is often MUCH MUCH harder than creating a successful business at the beginning.

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ronrule

11 years ago

Originally Posted by WillR

I've never understood why people say that whenever someone is successful with a business that has been inherited or passed down to them.

I bet you that guy has worked his ass off way harder than 99% of people in this forum and deserves every bit of success he has achieved. You don't keep growing a business by inheriting something and sitting on your thumbs.

He deserves just as much praise as if he had built the whole thing from the ground up. Keeping a successful business going is often MUCH MUCH harder than creating a successful business at the beginning.

I'm all for giving credit where it's due, plenty of young guys start successful businesses. It's just that in this case the client base was established and the ground work was already laid, that took place years before he was old enough to be involved. Revenues are higher among all exotic dealers right now, primarily because the cars are more expensive than they were when his Dad was running things. Selling the exact same number of cars would yield a 35%-50% revenue increase alone. If he thinks a couple of Facebook posts and a mirrachrome lambo have anything to do with revenue jump, I have a bridge to sell him.

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keith88

11 years ago

Originally Posted by trader909

see I.M isn't all about selling $7 reports to broke people!

He's sold more than $1 billion of cars over the past seven years. He's the nation's largest dealer of new and used Lamborghini supercars. He's been the nation's largest Audi deal for three years running. And he's only 26.
Meet Brett David, the boy wonder of supercar sales.

As the CEO of Prestige Imports in Miami, David oversees one of the fastest-growing dealerships in the country. And while most dealers rely on tacky TV spots and newspaper ads, David has taken a different route. He relies on social media, the Internet, celebrity clients and highly unusual marketing tools, including a gold-plated Lamborghini.

Lamborghini's boy wonder of sales - Yahoo Finance

Damn I just saw this on the Lives of the Super Rich on Cnbc

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CDaeda

11 years ago

Miami is known for drug dealer money for a long time now? They buy cars and also put people in boxes on the side of the road.

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DubDubDubDot 11 years ago

Originally Posted by CDaeda

Miami is known for drug dealer money for a long time now? They buy cars and also put people in boxes on the side of the road.

Miami is indeed full of drug money. There's a lot of people there with money that you know probably shouldn't have money.

There's a fair amount of scammers there also. Though moreso up in Boca Raton the poor man's Miami. I'm cautious of anyone who lives in either city in terms of those who do business online. The culture there is one where they think they can get away with anything.
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trader909

11 years ago

Don't many I.M. gurus live in Miami - Florida?

The number of item he sold doesn't matter. What matter is how much profit he makes per year and the connections he makes.

hmmm...so best to sell 500 $7 reports than 4 $500,000 items?

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Dash Evra 11 years ago

Originally Posted by trader909

hmmm...so best to sell 500 $7 reports than 4 $500,000 items?

No, I am saying the exact opposite.
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Alexa Smith

Banned 11 years ago

Originally Posted by trader909

hmmm...so best to sell 500 $7 reports than 4 $500,000 items?

Those figures don't quite compare, do they?

There are actually circumstances - and perhaps especially in online marketing - where selling a far higher number of lower-cost items can be preferable, in the long run, to selling a far lower number of higher-cost items.

You're looking at an extreme case, above, but if you compare - for example - selling 10,000 $17 products with selling 17 $10,000 products, I strongly prefer the first, because although they both produce the same income, in the first case I have a buyers' list of 10,000 names rather than one of 17 names and over the next 5-10 years that's probably going to be worth FAR more to me. "Just saying".

Nice car, but it won't drive over the speed-bumps in my street ...

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Lucian Lada

11 years ago

Originally Posted by Alexa Smith

You're looking at an extreme case, above, but if you compare - for example - selling 10,000 $17 products with selling 17 $10,000 products, I strongly prefer the first, because although they both produce the same income, in the first case I have a buyers' list of 10,000 names rather than one of 17 names and over the next 5-10 years that's probably going to be worth FAR more to me. "Just saying".

Interesting concept. I was actually thinking about something similar some time ago: If I had 2 products at different price points, solving the same problem, but the higher-priced one turned out to be more profitable to promote on the short-run, I would be interested in seeing how things turned out after promoting another 2 or 3 products to the resulting list of buyers of each product, provided the number of buyers gained from the cheaper product was considerably higher.

It would be an interesting test.

Originally Posted by Alexa Smith

Nice car, but it won't drive over the speed-bumps in my street ...

Nice car, but it won't drive anywhere in my country... :rolleyes:

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Ghoster

11 years ago

This is inspirational. I like his emphasis on social media. That's so essential these days. Social proof is gold.

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tpw

11 years ago

The problem with imitating the example mentioned in the OP is that few of us have the resources to become an authorized Lamborghini dealership.

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xohaibx 11 years ago

It's ALL about getting out of your comfort zone and doing things you never did. There are numerous such examples where entrepreneurs took a HUGE leap of faith and became successful.

Opportunities are everywhere - as long as you're ready to think/dream/want big. But that's not enough, you also have to be ready to take the required risks to reach where you want. Do you think this guy hit a homerun right away? I'm pretty damn sure he's had his own share of failures.

The problem isn't that we're not trying hard enough - the problem is that we're scared of the unknown. We're so used to roadmaps and proven formulas that paving our own path seems downright scary when it shouldn't be.

As long as you keep thinking in a limited fashion and stay away from failures, you will never grow - regardless of what business you are in. If you want to make big things happen then you need to treat every action of yours as an experiment so that you can learn from the results, tweak your strategy and get closer to success. Remember, the more rapid action you take, the more comfortable you become with taking risks, which ultimately leads to solid opportunities like these that you didn't know exist.
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DubDubDubDot 11 years ago

Originally Posted by tpw

The problem with imitating the example mentioned in the OP is that few of us have the resources to become an authorized Lamborghini dealership.

The primary difference between low end and high end product sales (aside from the product itself) is customer service. It has to be flawless. The buyer is king and you are a worthless servant. Your life revolves around them. You will wipe their butt for them.

"I don't know"
"I'll try."
"No."

It's all completely unacceptable.

If you go into it with that mindset and you streamline everything to be perfect and you make sure they understand it's going to be perfect, you've got a shot.

Compare that to selling to the lower classes. In many ways the buyer looks up at the seller. It's completely the other way around with high ticket sales.
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- Alexa Smith Banned 11 years ago
  
  Originally Posted by tpw
  
  The problem with imitating the example mentioned in the OP is that few of us have the resources to become an authorized Lamborghini dealership.
  
  Indeed, but this guy inherited one when he was young, when his father died suddenly and unexpectedly. Still, he seems to have done well with it, and probably knows what he's doing?
  
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XponentSYS 11 years ago

Originally Posted by tpw

The problem with imitating the example mentioned in the OP is that few of us have the resources to become an authorized Lamborghini dealership.

Bill, true. However, one could SELL for an established dealer. I've done that before.... Helped broker a deal on a Bently in 2005 and that resulted in a nice kick back to me.

My mentor, Dan Kennedy talks a lot about what he calls "mass affluent"marketing and though it's a different ball game than selling "information" (of which I'm also a fan) there's huge pay days to be had.
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ronrule

11 years ago

Also, who the hell other than a pop star would buy a gold plated Lamborghini? Talk about tacky...

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JohnMcCabe 11 years ago

I don't know who else would buy a gold plated Lambo, but I can think of a few guru wannabes that might rent one long enough to take a few photos and maybe shoot some video...

On another note, it highlights why I target affluent markets - that's where the money is, and they don't have to choose between my offer and the light bill.
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Rod Cortez 11 years ago

I lent Brett my car for a week. I kinda miss it; mostly because I left my favorite iPod in there......

RoD

Originally Posted by ronrule

Also, who the hell other than a pop star would buy a gold plated Lamborghini? Talk about tacky...
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mrgoe

11 years ago

I`d buy it in a second if I had the cash right now

anyhow I might start my own lambo dealership, seems to be working great

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trader909

11 years ago

you can only sell high ticket to relatively rich or big business...80%+ are living "paycheck to paycheck"

On another note, it highlights why I target affluent markets - that's where the money is, and they don't have to choose between my offer and the light bill.

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JohnMcCabe 11 years ago

Originally Posted by trader909

you can only sell high ticket to relatively rich or big business...80%+ are living "paycheck to paycheck"

Which is why I only try to sell big-ticket items to the relatively rich.
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gordonlds

11 years ago

I don't think many are in the position to be able to sell such high priced items. The overheads would be considerable. The benefit of starting an online business is that the overheads are so low; you don't need an office, staff, vehicles and all the other cash draining expenses that go with an offline business.

The other thing to remember is that the $7 product is really an introduction to your sales funnel it lets you differentiate buyers from freebie seekers and market to them accordingly.

As always provide value to your subscribers and they will continue to buy from you.

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i love this..Selling high ticket to the super rich

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