After 38 expensive years of experience in the bloody battlefield of business, I’ve come to the conclusion that the “Speed Wealth Zone” does exist. I’ve proven that personally for myself and even more importantly my clients have experienced the same phenomenon.
And even better still, they can now do it at will, that is get in the “Speed Wealth Zone”.
It was the late great Earl Nightingale that eluded to the fact that sometime in an entrepreneur’s life, their ducks seem to line up, the planets do align and everything seems to “come together” and money flows in abundance.
Now they’re not his exact words, nowhere near it in fact but hopefully you get my drift.
Certainly from personal experience, it does happen but rarely is it repeated at will. Mostly, it happens by accident. Given that we can’t depend upon wealth being created “by accident”, I’ve gone into the trouble of identifying a bunch of “TRIGGERS” I’ll refer to here as “High Speed-Wealth” TRIGGERS that make getting into the “Money Zone” a repeatable process.
Here’s my list of triggers…
HIGH SPEED WEALTH TRIGGER #1 is
The Choice of Business Itself.
When it comes to creating “High Speed-Wealth”, not all businesses are equal. Certain businesses lend themselves better to that process. I would go as far as to say 80% of your success is your choice (selling out to your ultimate client) of vehicle when it comes to making money fast.
I’ve referred to this as driving a “jalopy” in business not a “racing car”.
Given I believe you should start, create and build a business with the intentions of a “Big Pay Day”, the only way you can achieve that is by careful consideration of the business itself.
Okay, I’ve told you what the problem is but I haven’t told you the solution have I? I’ll try not to be that aggravating.
HIGH SPEED WEALTH TRIGGER #2 is
Identify a “STARVING CROWD” (MARKET) in Pain with Money
Remember that the late great Gary Halbert line. It went something like this “If you can have anything you want to start a successful restaurant, what would it be?”
Mostly people respond with things like great food, a great location, lots of clients. Occasionally some smarty bum rightfully says “a great marketing system”. Others have said, they want to own McDonalds.
All of the above is valid but the one thing Gary Halbert says you must have is a “STARVING CROWD”. And of course he is 1000% right. Although I would add “with money”. After all, this is a business and there has to be an exchange of value (your money, my food) and profit isn’t a dirty word.
Another way to say this is “moving to where the money is”. I mean imagine, building a restaurant where there is no “STARVING CROWD” nearby. No sane person would do that, would they?
Unfortunately, most businesses are not built on this obvious sanity. Otherwise there’ll be a lot more successful ones. Business is more like a song and a prayer. Let’s build the thing and see if anyone comes.
So alright, let’s define “STARVING CROWD”.
Well one “STARVING CROWD” is the wealthy affluent. Generally, a baby boomer born between 1945 and 1965. That’s me in fact. This group controls about 25% of the wealth and spend that goes on in the marketplace. Which means, when you identify them as a “STARVING CROWD”, you’re selling to one in five households.
So that gives you a choice. Any smart business person, understands it’s better to be marketing to the one in five households than the four in five households. After all, you can spend less on your advertising and marketing, enter the conversation they’re having every day and make more money doing it than seeing you market as a gigantic mass of meat.
The days of “I’ll build it and they’ll buy it” are dead and gone forever. It should come as no surprise that one of the highest spending groups in society are gay men and women.
Think about it. Two incomes, no kids and they like nice stuff and have plenty of money to spend on it. I understand there’s even a casino in Las Vegas that only caters to this “STARVING CROWD”.
Couple of years ago on TV, I saw a company had sold about 8 Winnebagos in the first month or two of that year. Winnebagos are if you don’t know, a house on wheels and some of them get pretty flash.
Anyway, they interviewed a bunch of people but mostly baby boomers who had spent about $650,000 on a Winnebago. The price of course on a 4 bedroom, 2 bathroom home. More importantly, they described it as “the best thing they’d ever done”.
Frankly, 25 years ago you couldn’t have given away a Winnebago. Today they are selling like hot cakes to a “STARVING CROWD” willing to pay handsomely for the pleasure. I searched online and even found a Winnebago for $1.2million.
Why? Because someone’s buying it.
I even found a diamond encrusted gold mobile phone for a million bucks. Don’t think it made a better phone call. It’s about status. The wealthy affluent really care about status symbols.
I think the fastest growing group out there at the moment is over 80 years of age. There’s a new “STARVING CROWD” for someone probably health related and care related. You make the list.
This is not rocket science. It’s about identifying your “STARVING CROWD” in pain with money and solving that pain for them. Taking them from pain to pleasure, problem to solution.
You see, the government only controls about 18% of gross national spending. The rest is what you and I do, where we spend our money.
HIGH SPEED WEALTH TRIGGER #3 is
Create Compelling Marketing Messages
(For your STARVING CROWD with Money)
The good news about identifying all of the above is, it directly influences the message you craft to them. I’ve never seen a better way of crafting a great message than to follow this formula.
- Identify the Problem
- Aggravate the Problem
- Solve the Problem
- Proof that you can Solve the Problem
- Call to Action
Here’s an example. Let’s say you have ugly teeth and you can’t afford to have them fixed. The message could easily be “Do you hate it when you smile?”, “Have you become a recluse?”, “Too ashamed to go out in public?”, “Is it affecting your self-esteem and is it stopping you from being more successful at work?”
Okay that’s the “Identify the Problem” bit. Now let’s “Aggravate the Problem”.
“Well, if you don’t get your teeth fixed, you’ll never meet the love of your life to share your life with and you’ll be lonely and in pain.” Does that sound bad enough?
Alright, now we’ve got to “Solve the Problem”. Now remember I said the prospect had ugly teeth and he couldn’t afford to fix them. “Well, you can go on a holiday to Thailand and get your teeth fixed for a fraction of what you’d pay in Australia. And the person fixing your teeth was trained at Harvard dental school and he’s been doing this for 30 years.” Now that’s a pretty compelling proposition!
A holiday, teeth fixed for a fraction of the normal cost and we can trust the dental surgeon.
Now “Proof that you can Solve the Problem”. Well I’ve already instinctively done that when I revealed the surgeon’s qualifications above. After all, the first thought the prospect would have is “Who the hell am I going to let lose on my teeth?”. Then of course, I’d back this up with a pile of testimonials and case studies from Aussie past clients who have undertaken this process.
Then of course, by way of proof, I’d offer an outrageous guarantee. Something along the lines “If you don’t love your new head of teeth and love your smile, we will refund you every cent you spent and fix it for free to your satisfaction.” WOW! Think I’ll become a dentist.
Second thoughts, I’ll stick to my knitting.
Okay, the final one is “Call to Action”. Now this is where even a lot of copywriters fall to bits. This is where the rubber meets the road. The reason copywriters struggle is because they mastered copywriting first and never mastered marketing.
And marketing is where your “Call to Action” comes from. I even write my offer “Call to Action” first when I write copy.
Anyway, your “Call to Action” must be an offer that contains “SCARCITY” and “URGENCY”. Let’s be silly with this one just so you get my point.
“When you book and pay for your dental surgery in the next 7 days and if you’re one of the next 10 people to do so in May, We’ll fix your bottom teeth for free.” Or, “Bring a friend or family member and you can have two for the price of one.”
Now I’m being a bit silly here but please don’t miss out on the message. It’s way too important.
Now there you have it. The greatest marketing message formulas ever revealed. That formula has served me for decades and my clients for that matter in every media. Okay, I’ve gone on way too long. Daisy, my PA, calls it my “blog mode”. Anyway, watch out for a bunch more “High Speed-Wealth” TRIGGERS coming your way soon.
For the record, I’ve revealed 37 “High Speed Wealth” TRIGGERS at my Business School last week in Melbourne over 3 days to my high paying clients. If you like to find out how you can get a copy of those recordings, in fact at the same greatly discounted rate my members paid, then click on the link below but only available at that price for the next 7 days.