Thursday, February 02, 2023
Here’s one of my favorite principles: Try NOT to abuse your customers. And here's what that means: Being lazy about either creating good stuff for them or making sure you're finding good stuff for them.
When you have a customer base that trusts you, that is responsive to you, two things are true:
One, if you have any brains you will want to find a lot of things to sell to them, because generally their capacity to consume will exceed your capacity to provide. So you're in a constant race trying to find stuff to sell to them.
Second thing that is true is, you don't wanna sell them crap because you will quickly undo the entire relationship that you spend time building.
In our business, you cannot imagine how many economically good opportunities I have to use my mailing list to sell stuff that is not good. And the temptation has to be resisted because then it undoes the whole relationship.
So this is where the money is in a business. It's not in the hard goods, it's not the buildings and all of that. All that can be replaced. If it burns down, you can move it.
The guy that has the power in the marketplace is the person who has the customers. And as you do joint ventures, if you do them, you will find out that this is true.
A lot of people think the person with the product has the power.
No, no, no, no, no. Customers are hard.
The person that has influence with a customer base deserves the maximum amount of the money in most joint venture deals, and gets it in most joint venture deals. And if there is equity to be built in the business, that's where the equity is.
So treat your customers well, which is exactly what I teach repeatedly in my NO B.S. Letter. If you’re a member, start listening to the “Midas Touch” course to attract and keep customers inside your members area.
If you’re not a part of NO B.S. yet, let me give you my 3-part course “Midas Touch” which covers Marketing, Direct Marketing and Selling tactics and more for free as a gift for just trying the NO B.S. Letter today! Make sure the check it out.