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Daniel Priestley

๐Ÿ‘ค Speaker
4387 total appearances

Appearances Over Time

Podcast Appearances

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

A 31-year-old who's in a new relationship and it's honeymoon period sees little value in you. And a 52-year-old billionaire who's about to go through a divorce that will cost $40 million in capital destruction and $8 million in fees sees an extremely high value in a marriage therapist, couples therapist, if they can fix the thing.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

A 31-year-old who's in a new relationship and it's honeymoon period sees little value in you. And a 52-year-old billionaire who's about to go through a divorce that will cost $40 million in capital destruction and $8 million in fees sees an extremely high value in a marriage therapist, couples therapist, if they can fix the thing.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

A 31-year-old who's in a new relationship and it's honeymoon period sees little value in you. And a 52-year-old billionaire who's about to go through a divorce that will cost $40 million in capital destruction and $8 million in fees sees an extremely high value in a marriage therapist, couples therapist, if they can fix the thing.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So when a billionaire has trouble with their marriage, they go to Esther Perel, they pay quarter of a million bucks and they want serious dedicated service and she's exclusive for that market and she's positioned herself for the market. So in every single audience, there's three categories within the audience. So there is what's called the mass market. They're just interested in price shopping.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So when a billionaire has trouble with their marriage, they go to Esther Perel, they pay quarter of a million bucks and they want serious dedicated service and she's exclusive for that market and she's positioned herself for the market. So in every single audience, there's three categories within the audience. So there is what's called the mass market. They're just interested in price shopping.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So when a billionaire has trouble with their marriage, they go to Esther Perel, they pay quarter of a million bucks and they want serious dedicated service and she's exclusive for that market and she's positioned herself for the market. So in every single audience, there's three categories within the audience. So there is what's called the mass market. They're just interested in price shopping.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

There's the niche market or niche market, which is interested in passion, community, story, experience. So they're interested in value, whatever that constitutes for them. They'll pay more for value. And then there's the luxury market. And the luxury market is the ultra high end. They're interested in pedigree, exclusivity, those kind of things.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

There's the niche market or niche market, which is interested in passion, community, story, experience. So they're interested in value, whatever that constitutes for them. They'll pay more for value. And then there's the luxury market. And the luxury market is the ultra high end. They're interested in pedigree, exclusivity, those kind of things.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

There's the niche market or niche market, which is interested in passion, community, story, experience. So they're interested in value, whatever that constitutes for them. They'll pay more for value. And then there's the luxury market. And the luxury market is the ultra high end. They're interested in pedigree, exclusivity, those kind of things.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So one of the best ways to push prices up is to become exclusive for either a niche or a luxury market. Mm-hmm. As far as spending power goes, inside an audience, 1% of people have 15% of the budget. 9% of people have 45% of the budget and 90% of the people have 40% of the budget. So the top 10% have 60% and the bottom 90% have 40%.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So one of the best ways to push prices up is to become exclusive for either a niche or a luxury market. Mm-hmm. As far as spending power goes, inside an audience, 1% of people have 15% of the budget. 9% of people have 45% of the budget and 90% of the people have 40% of the budget. So the top 10% have 60% and the bottom 90% have 40%.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So one of the best ways to push prices up is to become exclusive for either a niche or a luxury market. Mm-hmm. As far as spending power goes, inside an audience, 1% of people have 15% of the budget. 9% of people have 45% of the budget and 90% of the people have 40% of the budget. So the top 10% have 60% and the bottom 90% have 40%.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So basically what most businesses do is they target the mass market because there's lots of them, but they don't realize that the 90% of people only have 40% of the budget and it's the top 10% who've got all the money. So if you can reposition yourself as a key person of influence for these passionate people up here and be exclusive for them, you're going to end up earning a lot more money.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So basically what most businesses do is they target the mass market because there's lots of them, but they don't realize that the 90% of people only have 40% of the budget and it's the top 10% who've got all the money. So if you can reposition yourself as a key person of influence for these passionate people up here and be exclusive for them, you're going to end up earning a lot more money.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

So basically what most businesses do is they target the mass market because there's lots of them, but they don't realize that the 90% of people only have 40% of the budget and it's the top 10% who've got all the money. So if you can reposition yourself as a key person of influence for these passionate people up here and be exclusive for them, you're going to end up earning a lot more money.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

It's a great problem to have. A lot of people don't believe that's a problem, but it's so a problem. Like, I've experienced it. You've experienced it. I mean, yeah. So... The best way is to create free content that's for everybody so that if you're priced out of the market for someone, you can just recommend something for free.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

It's a great problem to have. A lot of people don't believe that's a problem, but it's so a problem. Like, I've experienced it. You've experienced it. I mean, yeah. So... The best way is to create free content that's for everybody so that if you're priced out of the market for someone, you can just recommend something for free.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

It's a great problem to have. A lot of people don't believe that's a problem, but it's so a problem. Like, I've experienced it. You've experienced it. I mean, yeah. So... The best way is to create free content that's for everybody so that if you're priced out of the market for someone, you can just recommend something for free.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

No entry. So like someone says, hey, Chris, I really need your help with X, Y, and Z. And you say, let me send you through the episode that talks about that. Look, I'm really sorry. I can't. I'm spread too thin. Um, and I've, I've always used that terminology. I'm, I'm really sorry. I'm just spread too thin right now. Um, and that's kind of like a people kind of acknowledge, okay, fair enough.

Modern Wisdom
#946 - Daniel Priestley - $0 To $1M: The New Rules For Building A Thriving Business

No entry. So like someone says, hey, Chris, I really need your help with X, Y, and Z. And you say, let me send you through the episode that talks about that. Look, I'm really sorry. I can't. I'm spread too thin. Um, and I've, I've always used that terminology. I'm, I'm really sorry. I'm just spread too thin right now. Um, and that's kind of like a people kind of acknowledge, okay, fair enough.