Codie Sanchez breaks down three tiers of services that wealthy people pay for: time-saving concierge work, luxury travel planning, and risk-reduction services like cybersecurity. The top tier commands six-figure contracts because the rich will pay anything to solve expensive problems they hate, making it the fastest path to real wealth.
Chapters
Which businesses actually make more people rich? The data shows us it's not the flashy ones. It's actually the last tier where millionaires are quietly built, and it is by selling to this type of person, rich people. Let's start with the bottom tier, C tier, time-saving businesses, high-end assistance and concierge services. Typically they charge $75 to $150 an hour, usually on retainers. 10 clients paying $2K a month, that's $20,000 a month, and with 60 to 80% margins. Nice little lifestyle business, but it caps out. Then we've got B-tier experiences. This is like luxury travel planners. They charge $15,000 to $50,000 depending on how crazy these trips are per trip. So 200 trips at $10,000 to $25,000, well, we're talking about millions of dollars in revenue. Also good margins. Here's the problem. It's discretionary. When budgets tighten, trips get canceled. And also you got to be able to get to the top dogs. Top-tier risk reduction. This is where the real money is. Cybersecurity is now a $200 billion global market growing over 10% a year. Large companies routinely pay $100,000 to $250,000 per client per year. And these have really strong margin businesses. Now, here's the difference. Nobody cancels security in a recession. Breaches cost millions. Regulators don't care about your vacation. So that's why these guys are doing billions while luxury travel planning is a tiny niche. Now, one's harder to get into than the other, but here's the play. Pick one expensive problem rich people hate dealing with. Start with one client, master their world, then productize it and raise prices. Because the wealthy don't pay for your effort. They pay for your certainty. And that's actually how you get rich. You sell things for rich people.