How to Make Money

Lesson 38 of 40

Key Takeaways

 

How to Make Money

Lesson 38 of 40

Key Takeaways

 

Lesson Info

Key Takeaways

So final things I want to share these air key takeaways number one front load the work front load the work it's too easy to jump up create any book and put it online and then nothing happens that's the worst possible solution because you don't know if it's the e book that's the problem the idea or whatever do the work up front so that you know their words better than even they know it themselves to master the craft just like we talked about with our photographer friend spend the time you are good at sales you are good at writing you are good at these things you have to take the time to do it. I remember I used to look at have you guys ever seen what a process map is? It's like one of those mind bubble things and it shows you like customer service and then there's all these like satellites coming out of it and I saw these process maps for other people's businesses. They were like one hundred satellites. I was like, this is crazy there's no way I can do all these things, but over a few y...

ears I just took each one in turn and I started learning lee oh, well, if I do customer service, then we need to figure out how to handle refunds so now we have a refund thing it just gradually just the same as we would do any skill like learning how to study or learning how to be a photographer you don't wake up one day you're not ansel adams on day one you learn how to do it you know you learn about all these different things and finally if you do this right, if you get the process right, the rewards will come great analogy for people you know, there's a lot of guys, especially the twenty eight year old guys they're like I want this six pack it's like cool, you can get the six pack, but you can't just dream about having what you have to do is master the craft, get to the gym and really what you should be focusing on is what you can control get there three times a week and the rewards will come same thing is true for your online business find the idea that pace find the audience that wants it go through the process of creating remarkable material for them and once you launch your product prices amir triviality you've already done all the work they will be delighted to pay let's take any final questions we have yeah, so we have an email question in here and this user wants to know for how long are you nurturing your prospects by sending them e mails before you start selling them good question, there's a lot of there's a lot of different ways to do it, so we have certain segments of ours who are nurtured for they've been nurtured for over two months. We have people who start getting, ah sales campaign on, like day two in general, I'd like to say a good rule of thumb is send them four or five emails before you ever start talking about selling something, remember, you want them to like you and trust you so that it's not just all these dudes trying to sell me some e book. So you really should be focusing on getting them results first before you start talking about your product. Nobody cares about your product. Nobody cares about your e book. They care about their challenges, and so if you can show them that you understand them, they will read every e mail. You have questions in the room? Yeah, mike, yes. So let's say you get a hold of someone who thinks the perfect target and your target market and you're trying to uncover their hopes, fears and dreams. How do you really evoke that out of them? So I'd like to ask him questions like, I start off really broad, like, you know, hey, um, I'm thinking of creating something around this area what's your area, by the way uh okay all right I'm thinking of creating something around blah blah blah and I don't have anything to sell but I'm just trying to understand how you think about it so I'll start off by saying have you ever thought about blah blah, blah and of course they have that's why you're speaking to them because you qualified them how do you think about it? How does it fit into your day so if it's like I don't have energy it's like tell me when does the energy sort of go away and they'll say around eleven a m and then oh so what do you do? I drink coffee well why do you think that you don't have a lot of energy? Oh well, I don't I don't eat breakfast and then you also don't want to ask him a million questions like you're interrogating them you wanna offer something to like oh, you know, I also I didn't eat breakfast for a long time and I could feel my energy ab at ten thirty and so you're going back and forth and you really want to know what would it mean tohave energy? What would that mean? And it would mean that they you know they could come home and be with their family instead of sitting solan on the couch they could do this you you want to know the aspirational side we also want to know what the consequences of what they're currently doing so right now they come home from work they have they're not engaged at all they want to start all this stuff on the side but they don't have any energy blah blah blah so hopes dreams the aspirational site and then the consequences and fears like what would what would it mean if you were in the same place five years from now and notice I'm not like the tone is very important but in general you want to know positive as well as the negative other questions we'd won over here um this is kind of like a nitty gritty question like right at the very beginning when you're trying to determine who's on your email list how how do you start that how do you start to build an email list? Do you start with the people that you just know or do you ask people's permission to be on their list or do you ask people for referrals? I just want to know sort of how you used great great question so you don't remember we're going to start a very simple website that there a lot of templates out there on that site we're going to put one of those email boxes and email opt in form it says enter your name and email tto learn more so now you have somewhere where you can point them and now you can start with your friends who would be interested still look, I'm starting this thing about wedding preparations et cetera I thought you might be interested if you are here's what I'm gonna be offering go here just entering you know, that's it really it'll be nice to get ten your friends on there that's fine, but they're not gonna buy anything it's the people outside that you're going to be writing for that you're going to be creating some guests post etcetera, they're the ones who are super interested in motivated, they're reading every blawg out there they're gonna come and they're gonna opt in they're going to put their name and email and your software will handle all the confirmation. So all you need to do is draft an email every week or two and click send and it'll go right to them. We got a question here that's fine and I want to make a point here I've got, uh, go into a lot of this stuff in great great detail so you can sign up here it's free and you can actually see don't sign up and you're gonna learn a lot about starting a business you'll see a lot of my students who have done it there making tons you'll also see what does it mean to have an opt in box? What kind of emails actually you know are good what kind of e mails make you interested and you could kind of study that and see why am I doing it? You don't have to copy it but you can say like oh that's interesting ah that's an idea I'm gonna write that down I got a question here yeah, so I'm talking to a couple of folks a lot of different types of businesses I'm just curious how might you apply this kind of thinking to maybe a product business or you know my case like a brick and more of service totally product businesses are a little different but the thing you can focus on is the research so the research is all the same it's what your challenges what have you done before? What have you bought? You know how much why did it work? The product creation process is a little different if you're creating a book or video course it's different than a physical product the marketing is a little different the research is very, very similar. So that's something I would consider also there's a lot of physical products that have a massive email list um uh there's a great sight for physical products I want to point everybody too it's called sweat block dot com anyone who well okay, I'll just tell you so I moved to new york I'm a california guy I hate sweating I hate it like more than anything, so I'm sitting on the subway and I'm like, oh my god, like, there are guys in full suits and it's like a hundred degrees in the subway, and they're just there and I'm like in a t shirt and shorts, okay? And I'm dripping in sweat, so one day I go, like, how do you house to stop sweating? This is a classic thing people will do how to lose weight, how to stop sweating, how to get my body back, whatever so I start going down, you know, the grapevine I start searching all these things and I end up on this site called sweat blocked go home and I'm like, and it's like, you know, when you go to kfc and they give you these wet, moist towelettes, it's basically like that, but you put it on your body and your body's like wherever you put it, it stops sweating for like, two weeks. That was like, this's amazing! This is like some would say, this is crazy, I'm like, I got to get this, but of course what goes through my mind, I go through the classic skepticism I go, this can't be healthy right there, they have a thing about health, this is whatever certified, whatever um no, this is going to leave all these white stains or whatever boom here's how it works here's what the results are and then I don't believe it this is bullshit testimonial testimonial testimony it's one of the most sophisticated sites online it is deceptively simple you go and you're like oh, it just looks like some you know, some simple product a moist towelette this stuff no go look at the amazon reviews they link to their amazon there's like thousands of positive review this is a great example of a physical product or any kind of product that solves a very niche concern now actually the kind of like for me it was like I just hate sweating there's a lot of people would like a serious medical concern okay? They will do anything to find the answer to it and some of them will go to their doctor which I strongly recommend they do but some of them are just going around like what the hell? This is an amazing example of using direct response marketing they understood their market so well they understood things that, like they told me things that I didn't even know I needed to worry about I was like, oh my god, I need this product right now order so this is what happens when you are very, very sophisticated marketing that's a great example of a physical product

Class Description


"...I'm just starting to implement some of the things Ramit suggests. I have a long way to go but so far i've gone from making $40,000 to $64,000 within a few months and that was by using negotiation tactics during the interview process." CreativeLive Student

Take control of your personal finances, earn more money on the side, and land your dream job with a high salary with strategic advice from Ramit Sethi.

Ramit has taught over a million students how to better manage their finances and in How to Make Money with Ramit Sethi he shares his proven techniques for transforming your financial outlook. Ramit will show you how to reach your personal financial goals by teaching you how to spend, save, and invest your money. Ramit will also show you how to turn your passions into extra income on the side. Ramit will also discuss finding and landing your dream job (or gig) and negotiating your salary once you do.

If you are one of the countless individuals who needs a little extra help developing a more strategic approach to work and finance, this informative and inspiring class is for you.

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Reviews

AshPhoto
 

This course changed my life. After watching Ramit on Creative Live, I bought his book, then signed up for his newsletter, then bought several of his classes. You could say I am officially drinking the Ramit Kool-aid now, but I'll tell you why... His stuff works. You have to trust the system, but I've been able to create a rich life for myself by my definition of rich and I am so happy. It takes work, but I am so grateful I found Ramit in my 20s so I can truly enjoy my 30s over the next decade. Without this course, I would still be complaining that people don't want to hire me because my prices are too high and whining that I am not valued, when in reality, the problem was me. Thanks Ramit for always speaking the hard truths and giving people wake-up calls to get their act together and live the life they want... It's possible!

YKR
 

I have taken a few business classes for creatives online, but this is by far the most comprehensive, most practical course of all. Especially for someone like me who loves Ramit's work but has not made a decision to commit to his full courses, this is a great introduction for what he can offer. He pushes you to think outside the box and see all the possibilities that we can have in a very clear, logical way. If you are unsure which class to take to learn about business, this is all you need.