Find Gold in the Mines.

Find Gold in the Mines.

How do most people discover gold? They then pick up shiny rocks after examining the ground. They run to the second one they see a few feet away. Then there’s one by that boulder over there. Yes, you understand: I’m literally bringing the analogy of “low hanging fruit” back to basics. Therefore, picking it up from the ground yields little gold for most people. But if you’re smart, you’ll do some research, figure out where gold is most likely to be found geologically, and then work hard to dig for it. Plant your own orchard and purchase a ladder to reach every branch for fruit.)

You can dig deep into your very own private… well, gold mine when you mine for gold. You stay away from the other people who are digging in the mud for money. However, once you locate and follow the gold vein, everything is yours. Even if you spend more money on specialized equipment and hire geologists to operate sorting machines and swing picks, the profits from finding the right vein will far outweigh the costs.

So, what am I saying about increasing profits in your company? To begin, you must determine the ideal customer base for your service. You could also identify a group and develop a product or service for that group.

You’ll do both if you’re smart. Your “likely spot to dig for gold” is that group. After that, you need to get in touch with this group and start offering them goods and services at prices that make the most money for you. Take note of me clearly: I do not advocate charging high prices for low-quality or mediocre services. In order to offer them the best possible solutions to their problems, you charge a high price.

Let’s return to the imaginary rug cleaner. Theoretically, any individual with rugs is a potential client. Joe, the proprietor of Joe’s Rug Cleaning, takes a look around and notices that the other cleaners in his city typically charge $50 per room. According to conventional “wisdom,” he must charge less to attract customers.

This indicates that Joe will still earn less than the worst hacker who charges $50 per room despite having more experience and providing superior service overall. Joe, on the other hand, is aware that there are dozens of small businesses competing for customers’ business by offering the lowest possible prices on carpets.

Joe conducts his research in the manner of a geologist looking for likely locations. He inquires about the installation location of each and every high-end carpet supplier in the area. Joe finds out that wealthy residents of the Bounty Bay neighborhood have a tendency to buy more expensive carpets. They value quality and anticipate maintaining impeccable carpets and homes. Joe is a mystery.

He writes a pamphlet about the care and cleaning of expensive carpets and rugs rather than immediately promoting his expensive carpet cleaning services. By receiving endorsements from local carpet and rug dealers as well as builders of high-end custom homes, he establishes himself as the local recognized expert in the maintenance of high-quality threaded flooring. He now distributes his literature to everyone in Bounty Bay. Joe hears a ringing in his phone! When he is looking for work in Bounty Bay, he always makes sure to ask his satisfied clients if he can use their names to contact their neighbors and friends.

He has discovered a gold seam and is beginning to mine it. He provides a one-month guarantee in addition to his premium service. He will come back free of charge to clean the carpet again if it becomes stained for any reason within the next thirty days.

When Joe talks to a few potential customers, he discovers that they have made a purchase of hardwood flooring. Joe educates himself on hardwood floor care and offers to clean them as well so that he doesn’t lose them as customers. He has discovered a complementary service that he can provide to his selected group.

Joe can suggest cleaning once a year, but what else can he do? What about offering his customers eco-friendly floor cleaning products? What about making those floor cleaning products available for purchase by individuals who have not hired him to clean their carpets? What about including a line of general household cleaning products that are kind to the environment in his product line?

Joe is currently charging four times what his “competitors” are charging for each room before he starts selling his cleaning products. Additionally, Joe is a well-known expert in the cleaning of high-end flooring, so his customers are pleased to have him on staff. Joe is now getting calls from people who want to pay for his services rather than going door to door to sell them. If you can identify your target audience and establish yourself as the recognized expert in your field, all of this can happen for you. The next step is to locate your likely location and mine it.