Financial Independence

33 Money making Lessons that are better than an MBA Degree

Actionable advice for anyone looking to make more money in business. 33 lessons from personal experience of managing a startup.

Wednesday, April 6, 2022·4 min read
33 Money making Lessons that are better than an MBA Degree
Share

Do you want to make more money? Do you have a business degree? If not, that's okay! You can still make a lot of money by learning from these 33 lessons. We've compiled a list of the most important lessons for entrepreneurs and small business owners who want to increase their revenue and make more money. These lessons are based on real-world experience and are often overlooked in an MBA Course, and they'll help you learn what it takes to be successful in business. So whether you're just starting out or you've been in business for a while, be sure to read through this list!

  1. People make decisions emotionally, then look for logical reasons to back up their choice.
  2. You can expect to earn an average of $36 for every $1 you spend on email marketing. However, this number may vary depending on how well you execute your email marketing plan.
  3. People are more likely to be interested in what your product can do for them, rather than in the product itself. In other words, focus on the benefits your product can provide, not on what it is. This will make it more appealing to potential buyers.
  4. Tell potential buyers what you're asking for your product, and then stop talking. Let them think about it.
  5. It is easier to sell an offer that solves a problem than one that fulfills a desire.
  6. No matter what business you are in, it is important to learn about psychology, cognitive bias, and body language.
  7. Offers with a solid guarantee will result in more sales than those without a guarantee.
  8. Memes are a powerful way to market something.
  9. Copywriting is a lot of research and a little writing.
  10. You should offer a service/product that meets demand, not try to create it.
  11. Pictures make testimonials more believable.
  12. You don't need a very expensive laptop, a very expensive logo, or a very expensive degree to start your own business.
  13. You can become wealthy by becoming more valuable, and then becoming scarcer.
  14. Your offer isn't "saturated" and the market isn't "flooded," it's just that your ad is boring.
  15. There is no such thing as an exorbitant price; there is only a lack of value.
  16. We respond to what we expect, rather than a general phrase. People are more inclined to believe specific words and figures instead of broad ones.
  17. The most efficient form of marketing is a satisfied consumer. 
  18. Listening is at the heart of sales.
  19. To make your material more engaging, use the words "you" and "your" in your content.
  20. Make use of headlines to capture attention and hooks to keep it.
  21. With good marketing, an average product can sell more than a great product with bad marketing.
  22. When stating your price on a sales call, say "It's an investment that will only be made once," instead of "The price is __."
  23. Charge a price that is higher than what most people are asking for their product. This will make your product more valuable to your clients.
  24. Trying to sell a good product in a bad market is a losing battle.
  25. If people have objections to buying your product, answer them on your landing page. This will help you increase the number of people who convert into customers.
  26. You don't want your sales pitch to last more than 2 minutes.
  27. Don't ever do anything that would ruin your good reputation just to make some money.
  28. To begin, accept many possibilities; however, to continue growing, learn how to say no.
  29. People are more likely to want something if they think other people want it too. If something is in short supply, people will want it more. If people feel like they need to hurry and make a decision, they'll be more likely to choose your thing. And if you can promise that there's no risk involved in choosing your thing, people will be much more likely to go for it.
  30. If people don't understand what you are selling, they will not buy it.
  31. Study talented fiction writers so you know how to write engaging stories. 
  32. Your story of how you went from being a complete beginner to an expert is one of your most powerful marketing assets. Zero to Hero.
  33. Give without expecting anything in return and you'll be rewarded handsomely in the end.

These points provide helpful and actionable advice for anyone looking to make more money in business. MBA programs are expensive and can take years to complete, but these lessons can be learned relatively quickly and will pay off in the long run. Implementing even just a few of these lessons will likely lead to more success than a traditional business degree. These lessons will give you the foundation you need to be a successful entrepreneur.

What other advice would you add to this list? Let us know in the comments below!

Share this article

Related

Keep reading

11+ Best Shop Business Ideas to Start in 2023

11+ Best Shop Business Ideas to Start in 2023

Are you looking for the best shop business ideas? Look no further! We've got you covered with the most profitable businesses to start today.

10 Money Challenges to Help You Achieve Your Financial Goals

10 Money Challenges to Help You Achieve Your Financial Goals

Want to achieve your financial goals? Check out these fun and easy money challenges that will help you get there!

10 Psychological Reasons For Overspending: The Psychology Behind compulsive spending

10 Psychological Reasons For Overspending: The Psychology Behind compulsive spending

Find out about the psychological reasons why you overspend and how to fix them. You'll be able to make better choices in life, improve health and finances, save money on unnecessary expenses, etc.

Financial Wellness: Tips to Improve Your Money Mindset

Financial Wellness: Tips to Improve Your Money Mindset

Improving your financial wellness can be as simple as making a few small changes to your money mindset. Follow these tips and you'll be on your way to a more prosperous future!

11+ Out Of The Box Ways To Make Money

11+ Out Of The Box Ways To Make Money

If you're looking for creative ways to make some extra cash, look no further! These out-of-the-box ideas will help you get started.

Want to Find a Career Coach? Here’s How

Want to Find a Career Coach? Here’s How

Unsure how to find the right career coach for you? This guide will walk you through the process and help you find the perfect fit.

No More Money Worries: 7+ Ways to Make Money From Your Property

No More Money Worries: 7+ Ways to Make Money From Your Property

Learn the basics of how to make money from your property with this guide - whether you're looking to rent out a room, run a short-term let, or get into property development.

How to Make More Money Online: Proven Strategies

How to Make More Money Online: Proven Strategies

Learn how you can make more money online by leveraging affiliate marketing, blogging and other passive income opportunities.

Loading more…
Explore by topic

Browse every topic that matters to your money