✔SUBSCRIBE✔ It’s important to know how to make money in a recession so that you can ensure that your income remains stable. HNW customers tend to make much better clients than the average person for the following reasons:
It requires the same amount of effort to target a wealthy client as it does an average client. For both HNW customers and those with an average income, you have to put in the same degree of effort. Targeting wealthier clients gives you a better result for the same amount of work.
Secondly, affluent clients can always afford your services. The average client may not always have enough money, but with wealthy clients you never have to guess. This is the answer to how to make money in a recession.
Third, wealthy clients understand and pay for value. HNW customers will provide payment commensurate with your added value. Average clients don’t understand superior value because they aren’t used to a high-value experience. If you don’t fly first-class all the time, you won’t appreciate it.
Fourth, wealthy clients are loyal. They’ll stick with you forever (if you’re reliable) because they require a lot from their service providers. They expect to receive a specific experience and they don’t want to have to find a new person that can meet their particular requirements.
Lastly, wealthy clients invest in relationships. They’re often guarded about revealing personal information. They do a lot of research before hiring someone and when they do, they place a lot of importance in the relationship. Build a relationship that will last.
If you want to know how to make money in a recession, look to the affluent community. With their money and their desire for trust, they’ll offer a reliable source of sales.
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