Millionaire digital entrepreneur Stuart Ross spent some time on the beautiful island of Mauritius in the Indian Ocean where he shot a video about, “What the ’New Rich’ know that other people don’t”. He talks about the 3 main principles that the ’new Rich’ use and implement to create a life where it’s not just about the money. But it’s more about the lifestyle of earning more, working less and enjoying life.
What The New Rich Know
What the New Rich know: Give Value First
One of the first principles that the new rich implement and understand is so important is to ‘give value first’. This is the #1 Rule of the ‘new rich’. It is now easier to do this in the new digital economy than it has ever been in the history of marketing.
Let’s give a few examples. In Stuart’s role as entrepreneur and co-founder of Six Figure Mentors (SFM) & Digital Experts Academy (DEA) he’s been told numerous times that “it’s a numbers game” and “make sure you’re always closing” (ABC).
There’s been many times he’s been to Sales Meetings in former jobs and it’s all about ‘sell, sell, sell’. Stuart has worked for some amazing companies and their training has given him some grounding in marketing. This is especially true in ‘people skills’ which is very important online and off line.
However, the idea of trying to sell all the time is incorrect and flawed. Stuart gives a prime example of this which any can relate to who has ever sat on a beach.
While in Mauritius he was relaxing on the beach and a guy approached him and tried to sell him a watch. Stuart was not interested and said, “No thank you” politely. The guy moved onto the next person but also got a “No”. This happened frequently and he kept walking up the beach approaching more potential customers.
This watch seller must have to deal with a lot of rejection before he gets a sale. His philosophy seems to be that it’s a ‘numbers game’. The more people he can speak then there greater likelihood that he’ll get a sale and the more money he’ll make.
What the ’New Rich’ know is that this a very broken business model.This applies whether you’re in real estate, recruitment or retail sales.
The off line business model is still to this day very much about ‘sell, sell, sell’. Well, online that just does not work in the long-term and in the off line world things are going to have to change if a business wants to be successful.
The businesses that do not adapt will run into trouble. The ’New Rich’ are aware of this and what they understand is that by ‘giving first’ you are able to form and create relationships. The well known way of phrasing this is, ‘know, like and trust’.
So, let’s give an example. Say that guy that was trying to sell watches was walking up the beach and approached Stuart and said, “Hello sir. I want to offer you a free cocktail drink of your choice.”
Stuart, and I think most people, would accept the free drink. Immediately this would enable the watch seller a ‘way-in’ and enable him to strike up a relationship with potential customers.
The beach where Stuart was consisted of mostly people pretty affluent people and most people would just buy something out of goodwill. Stuart talks a lot about this in his trainings and terms this the ‘goodwill bank’.
This method would give the watch seller on the beach a much better chance of making a sale as he had built up some sort of relationship with the holidaymakers. Instead of being rejected every 30 seconds as he approached each deck chair, the chances are is that he would improve his conversion rates.
Online this is something that can be done in order to form a ‘way-in’ and a relationship with potential clients. So the way to do it online is to give first. That could be things like giving a free report, a free report brochure, a free video series.
Give something that is informative and educational around a product that you are promoting. It could be free videos and it doesn’t even have to be professionally done in a studio.
In fact Stuart is creating less videos in the studio because he thinks they do not work as well. He believes that an audience likes to see ‘real people’.
What you’ll find is that by giving first, whether that be downloadable reports or videos, you are immediately creating that opportunity to form a relationship and gain trust with your potential customers. This is one of the most important things that the ’New Rich’ know and understand.
Businesses that do not adapt to this strategy are going to struggle more and more. We are in a world today that’s very different from that of 20 years ago.
People who want to buy a holiday or any product or service, will go online and carry out research and conduct due diligence. People do not just want to be sold. They want to make an informed decision.
Stuart’s advice to traditional business owners is to make sure that potential customers can find you online. Get a website. Start looking immediately at what you can give first rather than just trying to pitch your products and services.
What can you do to educate potential customers. What can you do to provide more value around what you are offering.
The amazing thing about this new digital economy is that reports, brochures and videos are easily downloadable. You do the work once they can be downloaded or streamed online once, a few times or hundreds of times. It does not cost any extra regardless of how many times they are watched or downloaded.
The watch seller on the beach by comparison would have to get a load of cocktails and have to work hard and sweat walking up and down the beach offering free drinks just to give that value first. So there is no excuse not to ‘give first’ when you’re online.
So, that is something the ’New Rich’ know so well – always be giving first. It will also make you feel so much better about your business that you are offering such great value. You’ll form the better relationships and you’ll attract the best customers.
The best customers expect to be ‘given to’ first. It’s the ice-breaker. It’s the ‘way-in’ to form that relationship. Give value first.
What The New Rich Know: Distribution Channels
Also “what the ’New Rich’ know” and understand is the importance of distribution. Again let’s take the guy trying to sell watches on the beach as an example. He’s walking up and down the beach.
That’s his distribution channel. That particular beach is about 1.5 miles long. he walks up the length of the beach and then turns around and tries again. His small distribution channel is the same. The potential customers are the same.
Think of a retail store. It’s a shop in a static location with the same passers by. What the ’New Rich’ know is that you’ve got to get online to open up your distribution channel. Stuart has a global audience for his business the Six Figure Mentors (SFM) & Digital Experts Academy (DEA). There is no reason why you could not have a global audience.
As Stuart did, you could shoot a video in Mauritius, or anywhere on the globe, and it could be watched by anybody around on the world. The way you do this is by investing in your marketing education and learning new skill sets.
One of the mistakes that people make is that they go and learn online marketing but forget about the first rule we have been discussing so far – giving value first. And as much as they know about how to open up a Facebook account and create ads online and all they are doing is the same as everybody else is doing… just selling, selling, selling
Selling should be secondary to giving first. You create value first and then you learn to distribute that value through all of the mediums now available like Facebook and other forms of social media.
It’s amazing what can be created in such a short period of time by understanding those 2 principles the ’New Rich’ understand – value and distribution. Invest in how to distribute your message, your value, your content, blogs, etc. and watch what happens.
The third important principle the ’New Rich’ understand is the value of information. This is the ‘information age’. Information marketing is one of the best business models to be in.
Even if your main business is not information you can normally start to incorporate information marketing into your business model. It will help you scale your business and it may even help you get out of your existing business.
Well, why information marketing. Because it’s the most profitable and the most valuable thing you can offer to the world today. People are looking for information all of the time.
Let’s look at an off line example. It costs 1 or 2 cents to buy a piece of paper. Now let’s say that piece of paper had the winning lottery numbers on it for next week. Fold it up and put it in an envelope.
How much would that now be worth to you if you were guaranteed to win a $2 million jackpot next week. It would probably be worth up to $2 million.
If it was guaranteed that those numbers on the paper would win the jackpot most people would do everything and raise as much money as possible to get that information and find out what those winning numbers are.
The point being made is that it only cost 1 or 2 cents to provide the $2 million jackpot winning numbers on the piece of paper. Now this is an extreme example but you’ve got to try and grasp that it didn’t cost much to distribute that information yet that information can be worth up to $2 million to the individual who purchased it.
Let’s bring it a bit closer to reality. What about some common problems that people want to solve, like quit smoking, improve their lifestyle, earn more money, get healthier and fitter. Now start to think about how that information can be provided in this new information age.
It can be provided through downloads, eBooks, PDF’s, through video streaming and online membership sites. It can be provided off line through the likes of workshops. You can find the customers for the workshops by first providing value online.
Suppose you are great at helping people lose weight. You can help people lose 12 pounds in 12 weeks in a healthy way. Think about the amount of people who would be interested in purchasing that product from you. And suppose you had the knowledge to show people how to keep that weight off for the rest of their lives.
You could now sell an eBook on this topic for $40. Think about how many you could sell a day – 1, 10, 100’s, 1000.
As long as people could find the product through your distribution channels, you could create a good relationship with your potential customers/customers by providing value to them. It’s not going to cost you anything for people to download the eBook. They can download it and get immense value from it and get them on the course to losing weight.
You can also have a membership site that provided videos that showed people how to take their exercise regime to the next level and keep that weight off and really feel confident about their body and good about their health.
You could also offer a 3 Day Workshop Seminar where customers could come along and learn all about new cooking recipes, new diet plans and the best methods to travel without diverging from their diet.
Just imagine being able to provide that kind of information where someone can now live a healthy lifestyle for the rest of their life. What do you think the value is to individuals who care about their health?
People who care about their health would spend $1000’s to be able to achieve the healthiest versions of themselves. Information is not the same value to everybody. Some people will see the value and some will not.
Some people will spend money on information and some won’t. But you should target and concentrate on the people who are willing, motivated and want to improve their lives. These type of people are prepared to go out and find the information to achieve their goals.
Another example could be that you are an affiliate of Stuart’s with Six Figure Mentors (SFM) & Digital Experts Academy (DEA). You would have information that enables people to never have to work a job again. To never have to be commuting to a job. To be able to go where they want to, when they want.
To be able to work less hours. To be able to work from home. To be able to do the school-run every day rather than having to rely on someone else doing it for them.
How life-changing is that information. Well, that’s a real life example of what Six Figure Mentors (SFM) & Digital Experts Academy (DEA) are able to provide. SFM & DEA can provide free reports talking about how to get into business online. This provides immense value.
SFM & DEA provide videos educating people about getting onto the right path to start creating the lifestyle they want. They have membership sites and provide workshops where students spend $1000’s to attend. These are 3 day workshop/seminars where experts show students what it takes to create a lifestyle by design.
What would that be worth to you? What would it be worth to learn from people who can give you the skills and information to live a ‘lifestyle by design’. No job, no commuting, no trading time for money and be able to write your own pay check. You would be able to then scale that pay check by having an internet business and work from wherever you happen to be in the world.
I hope you agree that’s a phenomenal business model. It’s a ‘win-win’ situation. People that have that kind of information can make money by sharing their expertise on how to get healthy, how to loose weight, how to get fit, how to design your lifestyle and how to build a successful business on the internet. This kind of information is absolutely life-changing.
Why is it a ‘win, win’ situation. Think of the outcome for both parties. The information marketer selling the products will be able to create a business they love, provide value to the world and are passionate about what they do. This could be you!
The customers are getting the information that’s going to change their lives for ever. They’re getting information that will enable them to really create lifestyle around their choosing. You can not put a price on that.
The reason why it’s so beneficial to get into information marketing and why it’s one of the best business models to be in, is that it’s a true ‘win, win’ situation.
People sell high ticket items like luxury watches online. Having a nice watch is great, but how much does it really impact your life. When is the last time you spent money on a high-ticket item and it completely transformed your life.
Information is lasting and offers more value to society than anything else. What can be provided is education, information that really gives people the control and do what they want with that information and completely change their lives.
So to recap. The principles are:
1. Give value first
2. Tap into the distribution channel of the world-wide-web
3. Provide information in the new digital economy
Promote Products That Give Great Value
What makes it even easier to get into this type of business model is that you don’t have to own your own products or services. You can be an affiliate. As an affiliate your main responsibility for the distribution of the products and services and the learning of the marketing strategies to distribute those products and services.
To be really successful as an affiliate you should market something you are passionate about – something you believe will help more people and change more lives. In this way it becomes easier.
For example, imagine going to the most amazing restaurant in the world and it’s located in your local town. Later at a friends barbecue you are asked to recommend a good place to eat. You would then point them in the direction of the amazing local restaurant you had been to earlier.
That is basically referral marketing. Recommending something you can’t help but talk about because of the amazing experience you’ve had with it.
In this digital economy you can get paid for making referrals. It’s important you go out there and find and only promote products that you’ve experienced for yourself and ones that you feel completely passionate about.
Imagine if you went to a crappy restaurant and the food was disgusting. Suppose the owners of the restaurant said that they would pay you $100 for very customer you referred to them.
How good would you feel about recommending friends, family or anyone to that crappy restaurant even though you would get paid for it. Would you be comfortable making a referral.
This is a big mistake a lot people make online. They go out and promote a lot of crappy products that they don’t been believe in, just because they think it’s going to be the quickest way to make money.
The best long-term strategy for building a sustainable business is to focus on providing value and finding and promoting products and services you feel amazing about. Those that you know are going to help people and change their lives for the better.
You can do this by writing glowing reports, producing blog posts, creating ads and doing reviews. You will get paid each and every time a person that you’ve referred makes a purchase of the products or services you promoted. This is the best way to get started online – as an affiliate marketer.
If you want to know more about affiliate marketing and would like some genuine products and services to promote that give amazing value and would be life-changing to those who use them – check out the Six figure Mentors (SFM). There are plenty of affiliate partners and an exclusive private community providing great support.
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