In this blog post, I will discuss 9 valuable lessons on making money that Mohammed, a YouTuber who has read over 75 books on money, shares with his audience. These lessons are based on his personal experiences and insights gained from extensive reading.
Whether you’re starting your entrepreneurial journey or looking for inspiration to boost your income, these lessons will provide you with valuable guidance. Let’s dive in!
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After He Read 75 Books on Money – Here Are 9 Principles You Need To Know!
Below I am sharing the 9 principles or lessons that Mohammed has shared after reading 75 books on the subject of money. These principles are really crucial to understand and implement if you really want to succeed in any online business or side hustle.
# 1 – Everything is Easy
This is the very first principle that Mohammad learned after reading 75 books on money. You need to engrave in your mind this concept that everything that you want to do or see others doing is Easy. This is especially important to overcome the false belief that many people have about themselves like they are not good enough or smart enough to do that certain thing that others are doing successfully.
Mohammad explains from his own examples that making videos, doing dropshipping, and making cold are also easy for him why? Because he thinks Everything for him is Easy. This is the mindset you need to have if you want to succeed in any area of life because perceiving and believing that things are before actually doing them is the biggest barrier to getting started.
In summary, the successful people you see in the world are not successful because they are smarter than you instead they believed that everything they do is Easy. For example, if Jeff Bezos would have thought that building Amazon is hard, would he be so successful today?
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# 2 – Acquire a Skill
In this second principle, Mohammed talks about the biggest misconception that people have today about making money. You need to keep in mind that to make money or to run any business online you need to have some skill. In other words, you can’t succeed online and even offline if you don’t have any skills.
He shares two of his best skills that anyone can learn over time. These skills include Copyrighting and Speaking. These two main skills can make you successful and you can start making a decent income online. Mohammed emphasized copyright because he believes copyrighting equals selling. Copywriting helps you make videos, create ads, write emails, create landing pages, write tweets, and much more.
Similarly, speaking is another very important skill that helps you convey your message effectively and engage your audience. Mohammed suggests dedicating at least 30-60 minutes every single day on learning and improving your skills.
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# 3 – Have a Strong Desire
This is the third principle that Mohammed learned from reading the best books on money. This is basically very similar to having a strong WHY. You need to have a very clear and strong reason behind what you want to achieve.
For example, if you want a hit a specific financial goal, then you need to have a powerful desire for that. As Mohammed shares his own story of having a strong desire to help retire his parents, that was basically the source of inspiration and fuel for online endeavors.
Having a strong desire to do and achieve something gives you the ability and perseverance that helps you continue moving in the face of adversity. Let’s say you have a tedious 9 to five job and you want to leave it, that’s you have started an online hustle. Now the intensity of your desire you will make stay up and work on your side hustle in the evenings and on the weekends.
On the other hand, if you doing something as a hobby or fun the odds of your success would be slim because you will find it difficult to actually sit and do the boring things that actually you forward.
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# 4 – Shift from “Making” to “Getting” Money
The fourth principle that Mohammed shared is the shift from a “making” money mentality to a “getting” money mentality. Because the truth is you can’t make money rather you get it from others or make others pay you. This mindset may seem very subtle but it is really important if you want to make money and achieve financial freedom.
Basically, this principle talks about changing your perspective on money, as the majority of people don’t understand that the money they want to have is already there. All you need to do is to identify the people who have your money.
And to get money from those people you can solve a problem for them and they will happily pay you for doing that. This is an ethical way of getting money from others, as you are providing something more valuable than the money.
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# 5 – Know Your Specific Person (Your Target Audience)
This is the fifth and very important principle that Mohammed shared with us. This principle is all about defining your target audience. This step allows you to know about the problems your potential customers are facing and come up with a solution to those problems.
In order to maximize your chances of success, you need to define a specific person or group of people. By doing so, you can really get to know their needs, preferences, and desires. Having this knowledge, you can then create products, services, or offers that truly speak to your specific person.
Now, here’s another thing you need to keep in mind when selecting your target audience that is their purchasing power. Even if you have an incredible product or service to offer, targeting people that don’t have enough money to pay you, the chances of your success would be very low. It’s important to choose a target audience that is not only interested in your product or offer but also has the means to spend what you’re offering.
Mohammed gives an interesting example to illustrate this point. He says, imagine you’re selling a relationship offer to someone like Jeff Bezos, who happens to be dealing with personal issues. The potential for high returns in such a case is huge because you’re targeting someone with significant financial resources. On the other hand, trying to sell the same offer to a young teenager with no purchasing power wouldn’t exactly be a smart move.
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# 6 – Sleep with Your Specific Person
Step number six, Mohammed mentions, is to “sleep with your person,” which essentially means getting to know your specific target audience on a deeper level. Understanding their hopes, desires, fears, and challenges is crucial for effective marketing and sales strategies. Let’s know this principle further…
To truly connect with your target audience, it’s crucial to have a comprehensive understanding of who they are as individuals. This is not limited to surface-level information like age, gender, or location. Rather you need to uncover their motivations, aspirations, and pain points.
By getting to know your specific person on a deeper level, you can identify what keeps them up at night, both figuratively and literally. You want to know their struggles, worries, and concerns that plague them and affect their well-being. By empathizing with their challenges, you can position your products or services as solutions that alleviate their pain points and improve their lives.
To really understand your target audience, it’s important to listen to them. Engage in conversations, ask them questions, and take note of their feedback. You can also use tools that track what people are saying on social media and analyze their online behavior. By gathering all of this information, you can get a complete picture of who your specific person is and what they need.
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# 7 – Find the BIGGEST Problem
The seventh principle that Mohammed learned after reading 75 books on money is, Finding the Biggest Problem that your ideal customers are facing. This is a really important step in getting money from others or making others pay you.
Your specific person or target audience might be facing a handful of problems, however, your job is to find the BIGGEST one. This is important because people are actively looking for solutions to their most urgent problems, and they are willing to pay a higher price for that as well.
By finding and solving the biggest problems, you can position yourself as a solution provider and create a compelling reason for people to invest in what you offer. This is how you can help them and get paid in return. This creates a win-win situation for both parties!
Mohammed also shares an effective strategy for identifying the most significant problems of your specific person. That is to reflect on your own journey and experiences. Look back at the problems you’ve successfully solved for yourself in the past.
By leveraging your personal insights, you can understand the desires and challenges your past self had. These reflections enable you to connect with others who share similar struggles and offer solutions that you know from personal experience can be transformative.
However, you need to keep in mind that you should also learn how to effectively communicate how your product or service can solve the most urgent or biggest problem that your target audience is facing. This is why you need to understand the 8th principle which is Sell Before You Build.
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# 8 – Sell Before You Build
In this 8th principle, Mohammed emphasizes the importance of selling before you actually build your product or service. This is important because you can’t spend months and months on something that your target audience may not buy!
So, you need to learn how to validate your idea, and not only that you also need to focus on how quickly you can provide a solution for your audience’s most urgent problems. Selling before building helps you determine if there is a demand and if your product or offer resonates with your target audience.
There are many advantages associated with selling before you build. The first one is it allows you to skip the lengthy process of creating the entire product, sales pages, promotional materials, and more. Secondly, you can test different ideas and concepts, and refine your offer based on real-time feedback from customers.
Thirdly, selling before building helps you avoid wasting time and effort on building something that may not have a market demand or may need significant modifications. Now let’s talk about how to implement this principle.
You can easily implement the “sell before you build” principle, by creating a compelling sales page or landing page that showcases your offer. You can Include captivating copy, testimonials (even if they are hypothetical at this stage), pricing information, and any other relevant details that will help potential customers understand the value and benefits they will receive.
Similarly, If you are planning to sell physical products through dropshipping, you can create product listings with appealing images, descriptions, and competitive prices. Once you receive orders, you can fulfill them by sourcing the products from suppliers or wholesalers.
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Remember, the key is to prioritize selling and validation before fully committing to the building process. By doing so, you can minimize risk, optimize your time and resources, and ensure that you are delivering products or services that resonate with your target audience.
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# 9 – Pick Your Biz Model (Delivery Method)
This final principle that Mohammed mentioned emphasizes the importance of understanding your target audience and their needs before choosing the delivery method for your product or service.
Instead of jumping straight into various business models like dropshipping, freelancing, or creating digital products, it’s important to identify your specific target market and think about how to address their problems effectively.
One effective way that can help you pick the right delivery method is knowing where your specific target audience hangs out, such as Twitter, YouTube, or TikTok, and then strategizing on how to reach and engage with them on those platforms.
This approach allows you to build a presence where your target audience already exists and increase the chances of connecting with them. The key point is to prioritize understanding your specific audience and their problems before choosing a business model or delivery method.
By doing so, you can develop a more tailored and effective solution, establish your presence where your audience hangs out, and increase your chances of success.
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In conclusion, Mohammed, a YouTuber with extensive knowledge of money-making strategies, shares nine valuable lessons after reading 75 books on Money. Firstly, he emphasizes the importance of adopting a mindset that perceives everything as easy, overcoming self-doubt and barriers. Secondly, acquiring valuable skills, such as copywriting and speaking, is crucial for financial success.
Additionally, Mohammed highlights the significance of having a strong desire and a clear reason behind one’s pursuits. Shifting from a “making” to a “getting” money mentality is another important lesson, understanding that money is obtained by providing solutions to others’ problems.
Furthermore, knowing and understanding the specific target audience enables individuals to create tailored products or services that resonate with their needs and preferences. Mohammed also stresses the importance of deepening the understanding of the target audience by uncovering their motivations and challenges. Identifying the biggest problem faced by the audience and offering effective solutions helps position individuals as valuable solution providers.
Moreover, selling before building allows individuals to validate ideas and refine their offerings based on real-time feedback. Lastly, choosing the appropriate delivery method by understanding the target audience’s needs and preferences increases the chances of success. Overall, these valuable lessons provide a roadmap for financial success, whether one is starting an entrepreneurial journey or seeking ways to boost their income.
In summary, Mohammed’s valuable lessons provide guidance for anyone looking to make money and achieve financial success. By adopting the right mindset, acquiring valuable skills, understanding the target audience, and providing effective solutions, individuals can increase their chances of reaching their financial goals. These lessons serve as a roadmap for success, whether one is starting their entrepreneurial journey or seeking inspiration to boost their income.