Have you been wondering what steps to take to start making money? Then, dive into this article on how to make money.
Money making is a skill. This is why people continue to make money as soon as they master the art.
Taking the following steps will help you to start making money as soon as possible.
1. Identify your strong reason
Why do you want to make money? Providing strong reasons for your desire to make money is so important. Your “why” is as, if not more important than the “what” when it comes to exploring the subject of how to make money.
It might generally be to “live a good life” for some people.
For others, it might be to be able to fund a life goal. For yet others, it might be to experience a luxurious lifestyle.
What is it for you?
Take a sheet of paper and write down as many reasons as possible. When you are done, ask yourself what will happen if your “reasons” were to be undermined. In other words, identify what the consequences of not being able to make money will be for you.
This can be a very strong motivating factor for you to want to learn more about how to make money.
2. Identify your sellable talents/passion and polish them
Everyone has at least a talent that is sellable. What is yours? You need to identify that if you have not. It might be singing, writing, cleaning, and so on. It does not have to be a fantastic talent. But as long as it is a talent and can somehow solve a problem or meet a need for someone, it is sellable.
For some people, talent may not be the most dominant sellable thing they have. It might be a passion. What do you have passion for? Will it make people’s lives better without breaking the law?
Talent or passion is not enough.
You need to polish that talent. Or that passion.
You may be wondering “Hey, how do I polish my talent?”
You can do that by converting the passion/talent to skill.
How do you do that?
Through training. You can pay to attend a training seminar or workshop somewhere. You can also find videos on YouTube on the subject matter and learn something. Polishing your passion/talent is a lifelong venture. So, don’t wait until you are “perfect”.
Get set to start making money with the passion/talent as soon as you can.
3. Identify your market
Your market is easily identified when you carry out a research from the premise of solving a problem or meeting a need. So ask yourself “who are those that have the problem I am trying to solve with my passion or talent?”
That is your market!
The next thing you have to do is to find a way to know which geographical area of your city most of them are concentrated.
It is worthy of note that you also consider the buying power of the various segments of people in your market.
After identifying your market, the next thing you must do is to determine pricing.
4. Create what people like
When you identify your market, the next step is to create something people like. Things that people like have various characteristics. The most important of these characteristics is that it solves a problem and/or meets a need.
But don’t get carried away!
It does not have to be fancy at all!
For instance, if cleaning is your thing, then create a cleaning service delivery that people cannot resist. A friend of mine created a cleaning business targeted at busy, rich women who are based in Ikoyi, Victoria Island, Victoria Garden City and other parts of Lagos Island, who do not want stay-in maids. The business is doing well and he has relocated to the island because of that.
5. Create an entry plan
An entry plan is simply the method with which you have determined to make your sellable talent available to the market you have identified. For me, for many years now, my entry plan is pretty much easy. It is: create a website that attracts and encourage customers to buy, launch a marketing strategy and start selling to make money.
Hopefully, that makes sense to you???
You don’t have to use my entry method. My friend whom I mentioned above simply created fliers and distributed them in areas he can find his target market. Eventually, after my constant pressure on him, he created a website for the business.
You can come up with whatever you find comfortable. But ensure it is something that works.
6. Market like your life depends on it
Many people create businesses and “hope” people will buy from them. Hope will not help you if you really want to make loads of money in a market that is saturated with competitors. Identify 100 ways you can market your business and explore them all. Imagine a method brings a customer your way once every month! That’s 100 customers!!!!
Won’t you like that?
Use online market sites. Employ the use of emails. Use blog posts. Post your products and services on Facebook Groups. Create fliers and spread them around the locality of your target customers. Get interviewed by a local radio or television show host. Get a podcast to interview you. Contribute an article to the local newspaper. Advertise on church bulletins. Send bulk SMS if you can.
Market and put word out there as though that is the main thing to do. The customers will definitely respond!
7. Serve your customers
When the customer responds to your marketing and brings money to you, ensure they are well served. Ensure they enjoy great customer service.
Customer service means that you help your customer in such a way that they feel absolutely satisfied.
Think about it! Don’t you agree?
Unfortunately, many people have little or no practical experience of how to actually treat a customer. Service your customer as though that is the only customer you have. A wise man said, “bulk treatment equals bulk failure”. Never treat your customers “in bulk”.
Excellent customer service is individualistic.
So, that is it! If you want to make money by creating a business, the above is a guide for you. Making money as an employee requires other sets of rules and guideline. Do you want me to create an article on that too? Which of the points above mean more to you. Leave a comment for me below.