The secret to achieving passive income, sales, and business success in any field.
I know it’s a big idea to comprehend that there is one single trick, one learning curve, to ensure success in all the fields out there.
At the end of the day, what’s boxing, the hotel industry, and a tech start-up have in common?
Each of them focuses on a different plan, not even their tax or VAT thresholds are the same, the number of employees is not similar and their target audiences are completely different kinds of people in general.
But if you watch closely at my last paragraph there is a common denominator in what I said:
How do you create a business plan?
Any successful business plan should, in a few words, provide a solution for a problem faced by a certain group of people or businesses.
This is how you choose the activity and niche and this is how you ensure the business is healthy and has a strong foundation.
It’s all about identifying the persona of the target audience and satisfying their needs.
Without a customer, your product or service will not be profitable or have success.
What do all have in common?
So what does everything have in common?
People! Customers who are also people! Or Business customers which are other businesses driven by people!
Everything in our life, in our society, is based on people, fulfilling their needs, offering them pleasure, connection, and fulfillment.
The consumerism principle is based on people, and social media and the influencers are so in demand and popular right now because they target people directly.
The hotel business are targeting people who go on holiday, they need to understand the needs of holiday goers in the area, and how to target relaxation and pleasure for those people so they feel satisfied.
The boxer is making money by having fans buy tickets to his fights, and buy his merch, so he needs to fulfill their need to feel like a family, to socialise with them, to fight the people they want him to fight, to offer them a sense of belonging.
The Tech Start-up has to provide a solution for a need, understand what the audience struggles with, and provide a product that will make their lives easier.
Any business you can think of is fundamentally doing one of these things:
- Helping people
- Providing a solution to a problem people have
- Makes people’s lives easier
Everyone, provides a value to someone, in order for that person to provide something of value to themselves.
Even if you are an employee, you are still targeting people!
You are essentially selling a product – yourself.
And you are selling this product to a customer – a company that needs your services, someone with your skills and experience.
Now, to be successful, you need to do a sale. You need the product you are building to be appealing to the customer.
You need to pass an interview, which is run by people, impress these people, and convince them of your skills.
If this sale is successful, you need to please the customer so they are happy with their choice of hiring you.
So you need to continue to please people, understand their expectations, meet or even exceed them.
In most cases, your job will be to work with people, in order to build something for other people.
How to ensure success long term?
Psychology plays a role in every business and you should learn to leverage it.
Let me present you with some examples:
- IKEA – The Swedish furniture company has its shops laid out in a path you have to follow until checkout. Even if you came for one item, you have to go through the whole path they laid out for you and see other products appealingly placed so it makes you notice them and want them.
- Supermarkets – Supermarkets are organised into shelves. And these shelves are psychologically thought of to have more expensive products at eye height and cheaper ones on the lower side so you spend more money.
- Airlines – When looking for flights, their prices are changing in relation to human behaviour. If they notice that in the last 3 days, a lot of people are interested in a certain destination and date, the prices will increase.
So in order to ensure success you need to understand psychology.
You need to identify needs, solutions, problems, what creates pleasure in others, and what they are interested in.
Here is my ultimate list of guidelines that I am constantly applying in my endeavours and I suggest you do the same:
- Listen – always be a good listener. This will make the other person feel appreciated, and that you are interested in them. And they will also pay attention to you afterward.
- Be genuinely interested – pay attention to what they say and do. It will tell you what they like and don’t like, what subjects to talk about when meeting them, and what value you can provide to them.
- Provide the right value – If you’ve done the previous steps and know what they value, you can provide that to them. This way, they will feel in debt to you and will provide value to you in the future.
- Smile – be a pleasant person. It goes a long way and especially if the other person interacted with not-so-pleasant people that day, they will go the extra mile to show their appreciation to you.
- Always vocalize appreciation – if you appreciate someone for a certain thing, tell them. Make it known to them that you like what they are doing. People like to feel good when people notice their efforts.
- Identify what they need – Pay attention to what they need and you will know how to get them on your side and what you can do for them so they do the same for you.
In conclusion, everything comes down to people. Everything we have that is not people, is created by people and psychologically targeting other people.
Even businesses, laws, or institutions, are not tangible and they don’t exist physically. They only exist in the collective mind by everyone agreeing on their existence.
Don’t be naive and understand that psychology is everywhere.
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