How to create a service people will PAY for - TGIM #5

Hey everyone, today I want to talk about how do you create a product or service that people will pay you for. So in my mastermind group, one of my members this morning asked a question. She's a writer and she's trying to figure out from the other people in the group, what kind of writing services do you need? Would you ever hire? Not that she's trying to sell herself, just trying to figure out where the demand is. What do people need? Do you need blog posts? Do you need social media posts? Do you need, do you need landing page copy? Do you need ghostwriting? What do you need in your business? So she just has an understanding of the market. And so my answer today will help her, but also help anybody who is trying to figure out how do you create a product or service that people will pay you money for. And I've got 3 tips that I want to share today. So the first is remember that the amount of money that you make will depend on the value that you're providing. And it's not so much the actual value often, it's more the perceived value. What do people actually think the value is that you're providing? And the bigger the pain is, the easier it is to get a yes, and the more immediate you're going to get that yes. The faster they're going to write that check to you because they perceive this huge pain. If they don't feel like it's a big pain or big need, it's going to be a lot harder to then try to convince them. That they could use your services, and often I find way better to move on. And so you may find a lot of people saying, hey, I need social media help, or hey, I need blog posting help, or hey, I need you to help me with this ghostwriting project. But do they really need it desperately? That's where you're going to get people making fast decisions and paying you a lot of money. So, you know, maybe only 1 in 100 people are writing back and saying, yeah, I need help writing blog posts, but maybe that 1 person is working at a company and is about to get fired if he doesn't improve the performance of his blog, and he's going to have you come in and help him, right? Like, that's a pretty big situation and one where you're going to get a quick yes, make lots of money with it. And so always remember that the money you make is going to come from the perceived value, from the pain that they're feeling. Number 2 is anything closer to the sale. Is also going to result in a faster yes and more dollars. It's a little bit sad, but people are very short-sighted and they want to see immediate results. And something like landing page copy, if a company has invested in a landing page, right? They've invested in that marketing strategy. You're not convincing them they need landing pages. They've already gone down that path and they have a landing page and it's performing, maybe underperforming, they want to try to optimize it, and you come in and help on the copy, that is easy for somebody to understand. How do I translate content into money, right? I'm selling whatever product I have, I'm selling my shoe, right? And by you coming in and testing that copy, I can quickly figure out if you're making me more money or not, right? It's something that brands and companies and entrepreneurs will place a more immediate dollar value on and say yes quickly because they've already seen results with the landing page and you're really close to a sale. Where the further away you are from the sales process, the harder it is to get a yes. So for example, social media, you know, social media is a lot newer. Not many companies are making lots of money yet on social media. It's more of a branding exercise, a customer service, customer relations. Get to know your audience, build an audience, where it's not sell, sell, sell, sell, sell, where the point of a landing page is to sell. And so because you're further removed from the sales process, it's a lot harder to sell social media copy than landing page copy, right? And again, it's a little sad because it's important. Like, writing good posts on social media is super important. There's some companies that do it well, most businesses don't. And they just don't value it. And so you could be out pitching it to them, it could be falling on deaf ears because they don't see how it's going to generate more money for them. If they can't see that clearly, then it's hard for you to sell that to them and change their mindset. And again, better move on to somebody else. So again, closer you are to the sale, the easier it is to get a yes and the more money you're going to make. The third point is though, this is the curveball. I almost don't care about points 1 and 2. The reason is I would focus, I would go all in on what I'm great at, right? I would do, think about what you excel at, think about the type of copy you love writing, the types of clients that you love working with, and go all in on that because the market is huge, right? There's tons of writers, therefore there's tons of competition for you, but the demand, the market for writing is also huge, right? Ginormous. Lots of people need writing, and so the challenge is if you don't stand out from everybody else, you're going to be lumped into, oh, this is just another writer, and you're going to get beaten down on your price point. Where what you want to do is be the clear choice for a certain group of customers, and everybody else can ignore you, laugh at you, whatever. They're not interested in you, that's great. You want them to self-identify that they're not a potential client. So it's getting dead simple clear on the types of people you want to work with and the types of projects that you want to work on and be the expert at that. So an example that I shared in a recent video, I guess not even recently, a long time ago that somebody brought up recently was a photographer. If you're a photographer, that's great, but there's tons of photographers. So combine your passions. And if you are a photographer that loves bowling, for example, You could be the number one bowling photographer. There's a market for that. People who want the best bowling pictures, and because you understand how bowlers work and you're a bowling fan yourself, you're going to take amazing pictures. So it's combining your passions. Now, somebody who wants a corporate headshot is going to find that, "I don't want to work with this guy because he's a bowler, right? He takes bowling shots. What does he know about corporate headshots?" And that's fantastic because The CEO corporate headshot guy is not going to be an ideal fit client for you anyway. So instead of trying to be everything to all people, segment it down. So if you're looking at writing, who are the types of people that you want to work with? And then go all in on those people, have an appeal to them that makes immediate sense, where if I hit your website, if I look at your social media, if I look at your videos, I'm immediately drawn to your message, or I'm not. Like, I self-eliminate super quick and you're not going to be in my pile of writers. And what it does is allow you to stand out, separate yourself, charge a higher price, and you get to work with more ideal clients, have more fun, get more referrals, feel more satisfaction because the projects that you're working on are having an impact and you're working with clients that you like. I'm going on a bit of a rant there, but yeah, I think you should go all in on that. It makes sense logically, the first two points, but Focus on where you excel, focus on what you love, and you're gonna see much better results. Believe. Thanks for the question.