There is more than one way to skin a cat we hear yeah? Here, I’ll not only show you a little trick I learnt about making money. I mean, you wouldn’t just learn how to make a million naira, you’ld learn how to make anything you want to. More importantly, how to reach your financial goals.
Before I delve into that, I had thought to inform you that I would in Ibadan last Sunday where I trained a youth group on SUCEEDING BY DESIGN OF PURPOSE . So I thought to meet with as many people as I can on my list but heck! Fever was all over me. I’ll tell you more about the journey tomorrow.
Back to our discussion, let me show you how to make a Million naira the easy way. This method involves reverse-engineering the process of money making.
So if the target is 1M, there are basically 2ways to go about it.
1. Sell a product or service worth 1k to a thousand people.
2. Sell a product or service worth 100k to 10people. That simple.
While you may agree that there are other ways to hit 1M, this method focuses on two things. Creating a low end product and sell to a large number of people or create a high end product and sell to premium clients.
The questions then is what product are you creating?
Low or High end, it might matter much starting out. What matters is your ability to get the number of required buyers who would help you hit your financial goal.
From experience, I usually recommend getting 10% of your potential customers to buy. Usually, you would surpass that target which is good for business.
So if you want to sell a product of 100k to 10people, you need to market to a 100people. 10% of 100 is 10.
Often time, more than 10people would buy out of a population of 100 depending on some other factors. When you market this way, your financial goal becomes almost insignificant cause you’ll hit it and surpass is often.
Reverse engineer the process, find the number of people needed for you to hit your target and market to a 100% of that population.
Peace, Love and Cold Zobo.