How To Take Advantage Of Rich People

It’s impossible to squeeze water from a stone.

Therefore, it’s better to take advantage of rich people than poor people if you want to some day have the luxury of getting squeezed yourself.

Stay until the end of the post because there’s a revelation for all of you who feel that taking advantage of the rich is poor form.

Here are my four keys to making maximum profits:

1) BUILD A BRAND

When you sell a luxury good, you are selling an emotion. When you can adeptly sell an emotion, your profit margins soar. Therefore, one of the best ways to take advantage of rich people is to build a luxury brand.

"Hermes can sell a Grace Kelley handbag for $12,000 to some people because Hermes exudes luxury."



"Whereas, Fossil can only sell a similar handbag made with the same materials for $120 because nobody cares."

Building a luxury brand is important not only for selling goods at premium prices. Having a luxury brand is also vital for selling services for massive profit margins.

When you can put in your selling literature that your house was designed by “XYZ architect” and won “ABC award,” from known people, the value of your house goes up.

Everybody wants to be associated with a winner.

2) VALUE YOUR CLIENT'S TIME

The one thing rich people can’t buy is time, which is why rich people put a premium on vendors who are responsive, attentive, and forward thinking. The more time you can save a rich person, the more the rich person will pay for your services.

Excellent service is a godsend to rich people. All rich people want is to feel secure knowing the job is being handled by the best professional possible. The more you can minimize the rich person’s worries and headaches, the more you will get paid.

“Just get it done and don’t bother me until it’s done" is a common mindset by rich people and top managers. It sounds arrogant, but when you can afford to pay a premium, you want to be shielded as much as possible from the hassle.

3) CREATE RELATIVE VALUE

Even if you’re rich, however, you don’t want to feel like you’re getting ripped off.

Therefore, it’s important to highlight who else you’ve worked with to make your prospective client feel more at ease. Even if the rich person knows your price is outrageously high, he or she will feel better knowing that other rich people have paid a similarly outrageously high price as well.

There is comfort in numbers.

No matter how expensive the price you’re considering paying, there will always be an even more expensive price someone else has paid. Your strategy is to show the even more expensive job to make your client feel better about his less expensive job.

Always have a menu of higher price point options to make your "bread and butter price point" seem the most attractive.

4) GIVE MAXIMUM RESPECT

Whether you’re speaking to the janitor or the CEO, you must treat another with maximum respect.



Rich people are usually in positions of power or have been in positions of power for a very long time. Therefore, rich people are actually more sensitive when others don’t give them respect because they are so used to getting love.

Respect goes beyond being punctual and responsive. Maximum respect involves anticipating what problems or concerns the rich person has and addressing these problems before they even come up.

Maximum respect creates maximum trustworthiness. Once you have a rich person’s trust, you are well on your way to becoming a rich person yourself.

You’re Not Actually Taking Advantage Of The Rich

The reality is, you’re not taking advantage of rich people by charging a premium price if you follow the four things I’ve mentioned above.

If you have demand, you’re still providing more value than you’re charging since everything is rational. After all, rich people didn’t get rich by being stupid with their money.

It is extremely rare to come across someone who is EXCELLENT. Many people are disrespectful, lazy, apathetic, chronically late, and have low emotional intelligence.

When a rich person finds someone who is excellent, he will hold onto that someone for dear life and refer him to all his friends.

Don’t sell yourself short. I am absolutely certain the vast majority of us are not earning or charging what we are truly worth.

Find the maximum price the market is willing to bear and charge it. Your time is valuable. You will also discover that customers who pay a higher price are often better.

Through testing you will eventually discover whether your product is worth its price or not.

https://www.financialsamurai.com/

Moreeee

You made a lot of sense

This is lovely

This is a very important leason on Branding

Nice one.


Fp worthy.