Who likes reality shows? I was never been a big fan of reality shows. I just don’t have the time (or patience) to watch (supposedly) mature adults argue and bicker over who wore what, who said what, or who lied to whom.
I understand these shows are EXTREMELY popular, but I refuse to get sucked into the madness. I said long ago that I’d NEVER watch reality shows because I thought they were all the same. Boy was I wrong.
I didn’t realize there were so many types of reality shows out there these days:
- House flippers
- Restaurant owners
- Outdoor adventures
- Health (emergency rooms, interventions)
- Show business (modeling, singing, etc.)
You name it, there’s a reality show for it, but as a business owner, I must admit that I have a new guilty pleasure: reality shows featuring millionaires and billionaires.
A Whole New World
To my pleasant surprise, there are quite a few shows that feature ultra rich individuals doing some pretty amazing things.
For example, there’s one show that features individuals buying private jets. One couple bought a jet for $4 MILLION dollars.
There’s a show that features private islands that are purchased for millions of dollars, and the exotic and exclusive vacation destinations of the super rich.
Another show features people buying mega yachts.
Then there’s the show that focuses on the buying habits of billionaires in general. It showcases homes selling for $30 million dollars, $200,000 cars, and everything that these people purchase, ranging from jewelry to rare sports memorabilia.
Now most people will scoff at these purchases and say they are just wasting their money. They could do things with their money like donate to various charities and try make the world a better place.
That is a valid observation and I’m sure many do give to various charities and causes, but there’s another point that we all should think about:
If these people like something, they will buy it. Not only that, they will spend extremely large sums of money to get it.
The question we business owners must ask ourselves is who are they buying from, and why can’t we sell OUR products to them?
One thing I noticed about each of these wealthy individuals is they put a premium on quality. They expect nothing but the best. They also want excellent service. If you can provide those two things, they will gladly pay over-the-top dollar.
No matter what we are selling or providing to our customers, it’s critical that we give our customers top quality and service. By doing this, we can charge a premium. And people will pay for it. No business owner wants a reputation as having cheap, products that are poor quality. You won’t sell many products, and you’ll be out of business sooner or later.
By charging higher prices, a person’s expectations will change, so it’s important we match those perceptions with reality. If I go to a fast food burger joint, I expect a certain type of quality and service. However, if I’m going to a high class restaurant, my expectations are drastically different.
When spending $4.00 for a value meal, I’m not expecting much more than warm fries and 2 ketchup packets. But if I’m spending $200? The service, food and decorum better be EXCELLENT.
How our customers perceive us and how we present ourselves is critical to our success. Change your mindset when it comes to your business. Your business is top of the line. You’re not like everyone else, you’re the cream of the crop! You’re not just selling a product, you’re selling an experience!
Don’t be afraid to charge top dollar for your goods and services because people will pay for them. Watch the shows listed above and you’ll see what I mean.
Change your mindset and think like a billionaire. What would you expect in quality and service? That’s exactly how you should approach your business. . Discover how to create the best products and establish a successful business today. Pick up a copy of my new book Readi Set Go! A Simple Guide to Establishing a Successful Small Business today on Amazon. Who knows: maybe one day your product will be featured on one of these reality shows!