The quickest way to get rich

We’re just discussed why most people never make money-because they don’t have a USP. It makes sense, therefore, to say the quickest way to get rich is to create your own USP, no matter whether you’re an individual or huge multinational. In many cases, the reality is that most people don’t currently have one.

            Sometime a USP is obvious and quick to reveal itself. You may already be doing something unique and simply not letting your customers know about it. If this is the case, it’s just a simple matter of starting to tell them what you’re doing that will make you unique. At other times finding a USP can be a difficult, painful, and frustrating task. Eventually, finding a USP may require a whole change in strategy.

            Your starting point, however, is always with your customers. Go out and ask them. Get to know what their fears, frustrations, desire or concerns are with your company, your industry, or your product. Always do it face to face and do it yourself as much as possible.

            Once you think you have found your USP, remember to test it first. Try it in a limited number of ads or brochures and compare the sales or qury rates with your usual methods.

            This is important, because you may be off the mark several times before you hit the jackpot. And remember, if someone else in your market is offering the same thing, your USP is therefore not unique and it is not a USP.

            In developing your USP, you need to thoroughly understand the distinction that a USP is product-or service-specific. This means that a USP should usually apply to each product or service you offer.

            Becoming unique gives you the massive advantage of offering your product or service in a way that nobody else does. If your customers want what you are offering-which they should if you’re done the right research-you can almost always immediately raise your prices without fear, and this means an immediate rise in profits, too.

            The best way to explain this is to give you some examples to which you can relate. The following examples of great USPs are mostly retail-focused, but USPs are equally applicable to any business, large or small, in any industry or market segment.

            Plumbers Here’s an advertisement, you might find in your yellow pages.

Does this business give you a compelling reason to seek out Joe’s services? The obvious answer is no! Unfortunately, as you can see, this gentleman has not developed a USP. Perhaps he actually does do something unique in delivering his service, but from his ad, he is certainly keeping it a secret from us. If Joe was to get to understand his customers – their real fear, frustrations, desires, and concerns-he would quickly realize that people who have dealt with plumbers, or tradesmen in general, are mostly concerned and frustrated about their punctuality. So the question is: Why is Joe’s advertisement not addressing this frustration?

            This advertisement is from a plumber who has been through the exercise of talking with his customers. He now offers his services on the basis that “If we’re not there on time, you service call is on us.” This is his USP. This is what make him unique and helps him stand out from his competititors; he has made no secret of it by putting his unique offer in the headlines of his advertisements and on his shop window. You be the judge. If you needed a plumber today, which on would you call?

Building A Multimillion – Dollar Business Without Spending Even a Penny on Advertising

                For years, request by viewers of TV programs for transcripts of the shows were damned nuisance until  James Smith recognized the opportunity hidden in all that aggravation. Smith was an MIT dropout, operating a small typesetting business in Manhattan when he ordered a transcript of a MacNeil-Lehrer Report show and waited three weeks for it to arrive. To demonstrate that even his dinky company could do a better  job, he taped a MacNeil-Lehrer show, stayed up all night transcribing and typesetting it, and hand delivered the product to the show’s producers the next morning. He secured an exclusive contract to produce the show transcripts and fulfill the requests.

For TV producers, his oddball business, called Journal Graphics, offered a service that relieved them of problems. Smith said to the producers: You can flash the Journal Graphics address and phone number on the air, we’ll handle the requests, and if a particular transcript sells enough copies, we’ll even pay you a royalty. He quickly captured the transcript rights to most major talk shows and about one-third of all CNN’s programming.

Of course, most shows do not generate enough transcript requests to amount to much money. But, then, keep in mind that the costs of preparing a typical transcript for copying are less than $100, and copying cost are about two cents a page, about a buck for the average complete transcript copy. Journal Graphics lays a 300 percent or better markup on that, selling each transcript for $3 to $5. And the occasional blockbuster bestsellers make it all worthwhile. Phil Donabue’s April 8, 1993, show, featuring the “Recipe Detective’s” do-it-at-home versions of Reese’s Peanut Butter Cups, Kentucky Fried Chicken. And other famous food products sold 100,000 transcripts! Bill Moyers’s PBS interviews with Joseph Campbell about myths sold a respectable 20,000 transcripts.

It all adds up to over $3 million a year, with an advertising budget of zero. And the business is on a growth curve. In addition to the individual consumers interested in the Recipe Detective or the interviews with transvestite hookers who want to adopt children. Sally Jessy Raphael, law firms, newspapers, radio talk show producers and even government agencies want transcripts of all the Nightline programs, and they’ll pay extra for fast delivery via satellite, computer, or fax.

Where and How To Invest To Generate Constant Cash

The Investment Solutions: When and Where To Invest Your Income

You could have people ask questions like can I invest  N5,000 monthly and make N200,000 in less than one year; impossible? No, leave him alone. It is not impossible. The only thing is that it is either you redirect his vision from looking at the returns of N200,000 to his effort in regenerating the N5,000 or you pose the question, back to the owner like Sir, how can you increase the frequency or the rate at which you product this N5,000 from monthly to weekly or daily so that you can achieve this N200,000 you intend to hit in one year?

Analyzing  Your Return Capacity

Putting money in an investment without analyzing the return capacity is a crab method of making money; you will always return to base with nothing.

Investment effort is a responsible one. Where to invest money to get return is first in your ability and capacity to generate it. If you want big returns on investment (ROI) or high frequency profit (HFP), you must first develop a big pocket. Put differently, where can I put N5,000 monthly to generate N200,000 does not just end there, but how long will it take me to do that with the eagle mentality, thinking from the roof. Now your brain will be activated to work, as an investment mindset will be given birth to and analytic skill will thrust forth; this is how investors think.

Grading and Sizing Your Capacity to Invest

Those with very low investment  capacity and intelligence will end up with the lowest investment options open to them. There is nothing wrong with it, at least, you being able size yourself up, pending when you have acquired enough knowledge to do more, and you will hardly lose.