In continuing from yesterday on my love of sayings, another one of my favorites is “sell to the classes, live with the masses, sell to the masses, live with the masses”.
The reason I like this one is so many people want to sell high end products (whether it’s designer clothes, expensive software, high end consulting) but when we look back at history, we can find so many examples of great wealth being created by catering to the masses.
Henry Ford didn’t invent the automobile, he found the way to make them affordable to the middle class.
Sam Walton didn’t sell high end clothing, he found the way to sell to low priced items to extremely large numbers while making a small profit from each sale.
Ray Croc didn’t invent the hamburger but he found the way to sell billions and billions world wide.
While there certainly are examples of people who cater to the high end buyer who have been very successful, it’s the mass producer who frequently ends up on top.
Making a small amount on a lot of sales can be much more profitable than trying to make a lot on a few sales.
Sometimes selling to the masses isn’t as “sexy” as the high end design things but if you are trying to run a business, shouldn’t profits be a big part of things? Just look around and you can see some opportunities that most of us take for granted. Just in the past few days I have spoken with successful people who are involved, or have been involved in the businesses of:
Close out clothing
Very few people grow up saying “I want to grow grass and sell it for a living”. Few people dream of being a used car salesmen. Most people take ATM machines for granted. Not many people in the apparel business hope to make their money buying and then selling close out clothing but each of these industries have been or currently are, very lucrative. Each are catering to the masses
Have a great day!