create value 300x188 - Millionaire Rule # 8:  Create Value And Know How To Sell It



Creating value and knowing how to sell is an important millionaire rule. Doing one without the other is pointless. As an entrepreneur, there is no more important product or service than to sell your own ideas. With all the technology and information available today, how do you do that? Think like your customer. Make an effort to understand the way that your customer processes ideas. In other words, think like your customer.



Entrepreneur, Matt Wegrzyn, knew how to create value and how to sell it. He knew there was a need for domain names so he was able to buy and sell domain names beginning at a young age. Some of his best deals sold for over six figures. Anything can happen with a great idea, creativity, and hard work. Matt is living proof.

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Keep It Simple


Customers do not want complicated ideas to wrap their head around. Your first impression makes all the difference. Whether or not your idea is simple or complex, begin with a simple presentation, and fill in the details later. Do NOT make assumptions about your customers based on your own behavior or habits.


Think and learn about the people you want to reach. If you are not operating on the same wavelength as your customer, your marketing efforts will seem like they are coming from another planet. It will not resonate with your intended audience.


A young college student, from the UK, realized there was no online retailer for eyeglasses and quickly filled that need for customers and became a millionaire. He used his student loans as capital and brought in $4 million the first year, in what he calls a “recession-proof” business. He took a simple need and fulfilled it for his customers. His idea solved a problem. He focused on a way to improve his customer’s lives.  He realized the joy and peace that they received by using what he had to offer. That excitement drove his passion to succeed.


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Know Your Ideal Customer


Where are these people? What newsletters or publications do they read? Where do they go for information? What social networks do they use? Ask questions. Survey people through your email address. Pick up the phone or invite them to an event or meal. Anticipate your customer’s needs and serve them before they realize they need you. In other words, be there before the sale.


A good example of this can be seen on Shark Tank when Maddie Bradshaw, along with her mom and younger sister, started designing locker decorations using soft drink bottle tops because she couldn’t find anything she liked on the market. By the time she was 16 years old, she lassoed three of the sharks to invest in her business and earned $1.6 million the first year.


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Know Your Roadblocks


Customers will bring up all sorts of roadblocks that you need to be aware of before presenting your ideas. For example, time, price, and changes that need to be mad or any difficulties, for that matter, must be addressed. Know how your customer thinks. Let’s face it – customers do NOT want to be sold. Instead, they want you to offer or provide them with a solution.


Babak Farahi did just that in Walnut Creek California. Babak and his friends in high school craved excitement and found it by listening to the radio scanner for their area. The minute they would hear about a fire or traffic accident, they would rush to the scene, take pictures and film footage before promptly selling it to the news stations that had arrived too late. This hobby turned into quite the business.


After graduating high school, Babak started a video production company specializing in custom video editing but he also saw potential in taping new shows and would sell the videotapes to those people who had appeared on the show or network. In 1996, he created Multivision, Inc. and now gathers all sorts of information from thousands of stations worldwide and creates tools such as digital clips, DVDs, and transcripts so clients so they can watch, monitor and analyze the information. Barak was only 23 when he formed Multivision and works hard to keep his employees happy.


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Make It Easy For Your Customer To Say, “Yes”


When a customer realizes that your idea, product or service improves their life or situation, the value will exceed the cost. Make it easy for the customer to say yes. It always easier to say yes, then it does to say no. When you ask the question, know the answer is yes before you ask it. When you see things through the eyes of your customer, everything changes for the better. That is when you get to rock their world. Ok – at least change their world.


Joseph Semprevivo has determined the change the world through his sugar-free and fat-free cookies known as Joseph’s Lite Cookies. Life as a diabetic can be hard, especially for a 12-year old son with some help from his father, they created a sugar-free ice cream that was served at his parent’s restaurant. This led to a re-branding of the restaurant to a Sandwich and Ice-Cream Shop in New Mexico. After stocking 197 grocery stores with their products, it eventually led to offering a variety of cookies, cakes, brownies, peanut butter and pancake syrup.


The company is now in 37 countries and will be in 125,000 U.S. stores very soon.


His original intention was to help other diabetics, but his line has many followers including nutrition and health enthusiasts, those dealing with hypoglycemia and cancer who must eliminate sugar from their diet. Quality and taste set them apart but his goal has always been to help people lead healthy lives.



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Sell Yourself


Many people in sales focus on selling their company, their product or service but spend little time, if any, on selling themselves. However, you are a huge part of the package. In today’s competitive market, you must position yourself as the go-to person that will solve their problem or issue. A lack of self-sealing can limit the degree to which customers will trust you. Today, customers look past the logo, product or service and want to know what YOU can offer. Sell yourself.



Quick TIP: Know your customer, create value and sell yourself.



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