Last updated on July 29th, 2021. Posted in Higher Ideal.
Listen, the only way revenue is created is when value is exchanged for it. Your target audience has a big, complex problem...and you have a solution in the form of a product or service you're offering. You've created something of value, and offer it in exchange for money -- poof! -- revenue!
Here are links and resources mentioned in today's video. Enjoy!
Now it's important to understand that any violation of this rule results in disaster. Here's an example of what I mean: Just before the 2008 financial crisis, people thought they could buy a house for nothing...and investors made money off those mortgage-backed bonds for nothing.
But eventually, the music stops, the party's over...and the whole ponzi scheme comes crashing down in pieces. You CANNOT violate this rule...not long term anyway. You HAVE to exchange something of value for money.
Trouble is, people always want something for nothing. Everyone wants a quick, easy, painless way to get amazing results. This makes it easy to spot when a market bubble is about to burst...it's when a whole bunch of people pile in, expecting to get huge value back for very little investment.
A whole buncha people jump in on what amounts to nothing much better than a Ponzi scheme, saying, "This time it's different!" And you know what? For a short while, lots of people are making money for nothing...because new greedy morons are coming into the market wanting the same thing.
Then what happens? The bottom falls out and the whole house of cards crashes in flames. And you can see it everywhere...Stock market, people pile in. Dot-Com bubble, everyone piles in. People piling into starting their own business...expecting a whole lot back for not much in.
But they're living in la-la land, thinking this is easy, and that this is how the world works. It isn't. They're violating the law of value exchange...where this kind of transaction can't go on forever. As soon as people realize they aren't getting any value for their money...
...the whole thing comes crashing down. Don't be deceived by "easy." Don't be tricked by "painless." Don't be fooled by "but this time it's different." Instead, go to work to provide real, honest value to the audience of people your online business serves.