DON’T MISTAKE YOUR VOCATION
The safest plan, and the one most sure of success for the young man starting in life, is to select the vocation which is most congenial to his tastes. Parents and guardians are often quite too negligent in regard to this. It very common for a father to say, for example: “I have five boys. I will make Billy a clergyman; John a lawyer; Tom a doctor, and Dick a farmer.” He then goes into town and looks about to see what he will do with Sammy. He returns home and says “Sammy, I see watch-making is a nice genteel business; I think I will make you a goldsmith.” He does this, regardless of Sam’s natural inclinations, or genius.
We are all, no doubt, born for a wise purpose. There is as much diversity in our brains as in our countenances. Some are born natural mechanics, while some have great aversion to machinery. Let a dozen boys of ten years get together, and you will soon observe two or three are “whittling” out some ingenious device; working with locks or complicated machinery. When they were but five years old, their father could find no toy to please them like a puzzle. They are natural mechanics; but the other eight or nine boys have different aptitudes. I belong to the latter class; I never had the slightest love for mechanism; on the contrary, I have a sort of abhorrence for complicated machinery. I never had ingenuity enough to whittle a cider tap so it would not leak. I never could make a pen that I could write with, or understand the principle of a steam engine. If a man was to take such a boy as I was, and attempt to make a watchmaker of him, the boy might, after an apprenticeship of five or seven years, be able to take apart and put together a watch; but all through life he would be working up hill and seizing every excuse for leaving his work and idling away his time. Watch making is repulsive to him.
Unless a man enters upon the vocation intended for him by nature, and best suited to his peculiar genius, he cannot succeed. Continue reading
The Golden Rules of Acquiring Wealth
In the United States where there is more land than people, it is not at all difficult for persons in good health to make money. In this comparatively new field there are so many avenues of success open, so many vocations which are not crowded, that any person of either sex who is willing, at least for the time being, to engage in any respectable occupation that offers, may find lucrative employment.
Those who really desire to attain independence, have only to set their minds upon it, and adopt the proper means, as they do in regard to any other object which they wish to accomplish, and the thing is easily done. But however easy it may be found to make money, I have no doubt many of my hearers will agree it is the most difficult thing in the world to keep it. The road to wealth is, as Dr. Franklin truly says, “as plain as the road to the mill.” It consists simply in expending less than we earn; that seems to be a very simple problem. Mr. Micawber, one of those happy creations of the genial Dickens, puts the case in a strong light when he says that to have annual income of twenty pounds per annum, and spend twenty pounds and sixpence, is to be the most miserable of men; whereas, to have an income of only twenty pounds, and spend but nineteen pounds and sixpence is to be the happiest of mortals. Many of my readers may say, “we understand this: this is economy, and we know economy is wealth; we know we can’t eat our cake and keep it also.” Yet perhaps more cases of failure arise from mistakes on this point than almost any other. The fact is, many people think they understand economy when they really do not. Continue reading
In Closing: What Is Your Ideal Profit Strategy?
When it comes to developing your ideal profit strategy, there are several things you can learn from the basic Profit Funnel. Let’s take a look at those elementary principles:
You Have to Start at the Beginning
Getting your foot in the door with a new customer is your top priority. We all know that they sales cycle can take a long time in some cases. But if you are going with a product or service that is relatively inexpensive and can be identified immediately with a need, then you can shorten than cycle a great deal.
Don’t worry about making a huge profit off that first sale. Just get the sale and make sure the product works right. Your reputation and your future opportunities with that client rest on providing them with a quality product as a price they are happy with.
It is for that reason that these entry-level efforts are so important. Sure, the big profit is not there, although you may end up with a nice amount of profit if you are able to move a product or service in bulk.
But make sure you see this as laying a foundation for things to come and not just the beginning and the end of your efforts with this customer. If you handle the situation right, you will soon be in a position to make a great deal more inroads with this customer.
Once in the Door, Look for New Opportunities Continue reading
High Ticket Product Ideas
No suite of products or services is complete without some “diamond” level of offerings that are of interest to your customers.
While these may not appeal to more than a core group of your client base, the fact that you enjoy such a strong relationship based on the performance of your low ticket and mid ticket offerings will help them to trust you with these high ticket products as well.
When you think in terms of high ticket products and services, an average of $297.00 to $997.00 is a nice average range. Of course, there is nothing with going for high ticket products that are $1,000.00 or more, depending on how they relate to your other products and the demographics of your client base.
Here are some ideas for high ticket offerings that may be a great fit with your business model.
Coaching / Mentoring
Mid Ticket Product Ideas
Having established yourself with some of your low ticket offerings, you will want to investigate the potential for up-selling your client by creating interest in your mid ticket products and services.
For the purposes of the discussion, you may want to think of mid ticket items as being priced in the $37.00 to $67.00 range per unit.
There are plenty of methods you can use to promote your mid ticket offerings. Here are some examples of methods that have proven track records of generating interest among existing clientele as well as garnering some attention from new customers as well.