10x Your Profit. 10x Your Prices. 10x Your Business. [Here’s how]

Summary

• People pay more when they associate your brand with something valuable. This can lead to a 100x differential in return on investment.
• Over the last 40 months, I grew from 0 to 8 million subscribers and built a portfolio generating over $250 million a year by following six steps in brand building.
• Step 1: Understand branding. Branding is about creating associations between your business and positive things that people already know and like.
• Step 2: Understand why branding matters. Branding lets you get more customers at a lower cost, and they buy more frequently and at higher prices.
• Step 3: Identify your target audience. Choose a growing audience with money to spend, that is easy to find, and has a problem you can solve.
• Step 4: Find out what your target audience likes. This helps you create content and solutions that appeal to them directly.
• Step 5: Advertise your solutions. Associate yourself with the solutions to your audience’s problems through various forms of content and advertising.
• Step 6: Keep your promises. Deliver on what you say your product or service will do, ensuring your customers have a positive experience.
• Brand building is like gardening—consistent effort is required to maintain order and remove anything that doesn't fit the brand.
• Making positive associations repeatedly is like reinforcing memory pathways, eventually making your brand synonymous with those positive attributes.
• Brand success is built over time by consistently delivering quality and value, which turns customers into advocates for your brand.

Video

How To Take Action

Here's the game plan:

Step 1: Understand Branding
A good way of doing this is to create clear associations between your business and things people already like. For example, if you run a gym, link it to feelings of health and fitness. This helps people see your brand positively.

Step 2: Know Why Branding Matters
Branding helps you get more customers who are willing to pay more and buy frequently. Always remember, strong brands print money because people trust them and feel connected.

Step 3: Identify Your Target Audience
Focus on a group that's growing, has money, is easy to find, and needs what you offer. Let’s say you’re an accountant; targeting health clinics that are booming due to the aging population can be a smart move. It’s specific, growing, and easy to locate.

Step 4: Find Out What Your Target Audience Likes
Knowing what they want helps you create content they love. For instance, if you’re focusing on health clinics, understand they want to increase profits, get more clients, and retain staff. Your content should provide solutions to these needs.

Step 5: Advertise Your Solutions
Make sure to associate yourself with what they like. Start small with social media posts, blogs, or videos addressing their problems. Provide tips on profit growth, client acquisition, or efficient clinic management. Consistently show up with useful information.

Step 6: Keep Your Promises
Deliver on what you promise. If you say you’ll help clinics grow profits, make sure your accounting services do just that. This will turn your clients into brand advocates, sharing their positive experiences with others.

Finally, remember that brand building takes time and consistency. It’s like gardening. Keep planting, nurturing, and pulling out the weeds. Be deliberate about what you associate with your brand and keep delivering top-notch value. This will pay off massively over time.