Amanda Steinberg asks Ramit Sethi, founder of I Will Teach You to Be Rich, about creating a profitable customer base.
Why don’t more people start businesses?
Most people spend their time on fake business work, like creating a website, getting on Twitter, and buying business cards. The most effective way to get paying customers is to truly understand who your customer is and what they want—even more than they understand themselves.
Tell me about the violinist who made $80,000.
Jackie was a violin instructor in the Midwest. She wasn’t sure who her real clients were or how to find them—she just tried to get whomever she could. I taught her how to get inside the mind of her clients (think ethnic mothers) and understand that they didn’t just want little Timmy to get good at violin—they wanted Timmy to get into Harvard.
Once she deeply understood what these moms wanted, Jackie was able to reposition her business, change her pricing, and earn $80,000 in eight weeks.
Incredible. How did she get clear about what these moms wanted?
Many of us assume what other people want, but we rarely take the time to ask them. Jackie ran several surveys and used a technique called “asking without selling,” which made moms more comfortable answering questions. I teach this technique to thousands of people every month.
To learn how to get into the heads of your clients—and how it helped me earn more than $100,000—click here.