Uncovering The Hidden Asset $$$ in Yourself and Your Business…
The reality is most people and businesses have accumulated assets, often well hidden from common view. The trick of course is recognising their value. I’ll give you some examples:
Platinum Members Daryl and Andrew Grant’s difficulty in having a child and their subsequent solution, 2 healthy children, has proved to be a VERY healthy hidden $$$ asset. In this case, something they know that lots of other couples who aspire to have children desperately want to know.
You see, what first appeared to be a heart-breaking issue has ultimately become an information product that others who are suffering the same consequence are more than happy to pay for their knowledge.
Another Platinum Member comes to mind… Dr Chen Tay. Chen’s a chiropractor who understood very early in the piece that there was no money in chiropractic, all the money was in the marketing of the chiropractic. And as it turns out his marketing system which breaks all the rules (norms) performed by his industry when it comes to getting, keeping and servicing a client have proven very valuable to his peers… because now they pay him for his system.
Another Platinum Member Wayne Pickstone runs a very successful wellness practice providing all number of services. Again, Wayne has developed a system for what he does and now teaches other practitioners how to do the same via seminars and product sales. Wayne has turned what he knows into an information business that other practioners pay him handsomely for.
Years ago I had a printer come and ask if he could “Do my printing for me?” My reply was, “How much are you prepared to pay to do my printing?” Of course, he was astonished by this comment. When he recovered, I explained. It went something like this… “I spend roughly $600,000 a year on printing. How much would you pay me if I guaranteed you all my work, all the $600,000 worth of printing for next year? What part of the $600,000 will you pay me in advance to do what I’d be doing anyway?” My offer of course came with a small caveat that satisfied his concerns, and that was “I’ll guarantee I’ll do at least $600,000 worth of printing with you next year, and if I don’t I’ll refund some part of your money pro rata based on what I do spend.”
After recovering from the initial shock and stating that he usually just offers to do people’s printing at a better price, improved quality or simply comparable price and/or quality, but on this occasion he asked me how much I’d want. I replied “$30,000 up front.” Ultimately he said he needed to get back to me, and here’s what he said when he did… “I’ll pay you $20,000 for 2 years.” Obviously it worked. $20,000 up front is akin to making money out of thin air from a process, in this case, printing, that I’d do anyway. Ultimately, I didn’t do the deal. You see, money isn’t everything, I’m a loyal so and so. But it was great fun.
Anyway, what hidden assets $$$ can you explore in your business and turn into wealth? What do you know, what do you do that people would pay you for that you’ve never considered?
Best regards
Mal
