How to profit from poor people

[DennisD]

Throwaway idea based on something I used to do....

We see a lot of threads like these:
https://www.thefastlaneforum.com/co...ss-vs-start-making-money-in-a-business.53012/

A LOT of these questions are being asked on this forum.
People on the edge of desperation looking for information and guidance,
looking for an easy win.

You know that for every SINGLE post we see here, there's hundreds of people searching daily.
There's a need for a product for these people.

I know what you're thinking:
"These people don't have any money to spend on a solution".
You're right... but a direct transaction isn't the only thing they have to offer of value.
They have friends, social media accounts, emails, phone numbers, and most importantly: TIME.

These people have more TIME than money, more TIME than common sense, more TIME than self respect.
They are OOZING time and attention.

So, how can you benefit from people who are cashpoor?
There are plenty of ways.

Create a step by step guide, call it "hobo marketing"... how to make a living when you have nothing and zero time. Make it a GREAT guide, full length, with plenty of examples...

Instead of charging money, you require them to do something else for you. Complete CPA offers, Share videos to their social media accounts for cheap views, pass out fliers around their neighborhood with photographic proof, or just sign onto an email list so you can market other 'freebie' things to them later.

If somebody does this, send me a PM. I'd like to check out your execution!

 

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[parkerscott]

The thing about the poor is that they dont have the drive to do something like this. They want instant gratification with little work. Thats why so many poor people play the lottery or have tons of kids to get government handouts.

You could turn them into wifi hotspots though.

 

[DennisD]

The thing about the poor is that they dont have the drive to do something like this. They want instant gratification with little work. Thats why so many poor people play the lottery or have tons of kids to get government handouts.

You could turn them into wifi hotspots though.

Well that's the thing, isn't it.
The lottery doesn't increase their life position.
It's statistically more likely to RUIN their life.

But they play it anyway,
for the hope. For the chance at an easy way to feel better.

Likewise..
They might not follow through if you gave them a plan to success...
but so what? Who cares?

You get your use out of them before they access the material,
and if they actually have the strength of will to follow through, they'll sing your praises.

The point isn't to invest in their future.... that's a losing game.
it's about figuring out a way to profit without them needing to spend any cash.

@AllenCrawley I realize this might be a conversation that may damage my future reputation as a content producer. Can you please move this thread to the speedway?

 

[Mattie]

1. You're assuming they have a computer or phone. Which not all of them do. If they do it is for a month.

2. Locally you assume they have transportation and interested in succeeding. Most of them don't have a g.e.d. or diploma.

3. There is generational poverty that is passed down generation to generation. They're fine with it, and will live that way their whole lives. It's what they know to survive. There is situation poverty where someone temporarily has fallen. These people will get back on their feet, but usually with the help of government, churches, and non-profits.

4. Their worries are getting $5 for gas to get to an interview or car period. Their worries is finding shelter, food, keeping their utilities on, using substances, drinking alcohol, and playing video games.

5. They're are worried about finding money to buy shampoo, soap, cleaning supplies, and getting their clothes washed. If they worry about that at all.

6. They're worried about being loved, and fighting with partners over cheating, and also drug deals gone bad. They're worried about selling themselves to get a ride for 15 minutes to get to a friends and exchanging favors.

7. They don't buy things necessarily. They barter to take showers and do laundry at the neighbors. They work together to fix cars, plumbing, heating, snow removal. They're always lending each other a helping hand. There always finding ways to get things free. Most of them hate reading books. This a waste of time for them in their negative state of mind.

8. While you would love to help them, the resistance to change is there for some of them. They really are not concerned about getting help outside of their friends or family. They have a problem with case workers, and parent mentors trying to tell them what to do. They're usually court ordered too A.A. or parenting skills classes.

There are dynamics to the poverty mindset. They're smart, they're con-artists, sly moves and sly words. They're just successful in poverty. Even some of them are great graffiti artists, street artists, musicians, and computer geeks.

9. The hardest part you have to accept in life is that some people are aware and choose to be homeless, and in poverty. That's right, some prefer to live on the street versus a shelter where they are given food, a bed, rules and Christianity.

10. What can you learn from them? If you go volunteer for a non-profit, or homeless shelter and you listen to these people's stories, the wisdom they have, and fortunately some of them are very wealthy regardless of what they look like, smell like, or physically appear to be. This is the thing I understand the Millionaire Mindset, I just will never forget those faces, stories, and the experience I've had working with them. The people that are wealthy also are the older ones that lived in the depression. There hoarders and save their money. Other one's have mental illness and were put on the street by mental health systems when they closed the institutions. They won't comply with AFC homes and rules.

It's not my place to judge them, because I know life happens. Working with rich people to at the same time at the end of their life, I see the difference between the love people have in poverty versus materialism and wealth that leaves the rich lonely. I will keep my self in proper perspective. People in poverty only have love and their relationships. Wealthy people have to be very balanced to maintain love, relationships, and money. Greed takes over in some situations.

11. So these are just a few of the obstacles when you target people in poverty to sell stuff. Even people that run these AFC homes to help them don't make a profit off the mentally ill or poor. The system doesn't work to get these people where they need to be. Most refuse the help at homeless shelters because most of them are run by Christians and don't want that shoved down their throat. Some go anyway to get job training, and apartment. The rules are tough, and some get kicked out. There is a high resistance to getting any kind of help.

 

[DennisD]

In the OP I linked to a thread where somebody was desperate for information. They had a computer, they had an internet connection, and were smart enough to sign up on a forum to ask for advice.

That's the audience I'm hinting at here. I'm more than familiar with the poverty problem in many areas and while it's a crying shame, I'm not about to start targeting the guy living under the bridge or the old chinese guy collecting cans.

Sent from my KFTHWI using Tapatalk

 

[Mattie]

Your target is situation poverty. Which may be because they're riding off neighbors wi-fi or library internet. They may have internet because they sell other things to keep it on, or sacrifice everything else to learn something to get out of poverty. Along with internet social support. The thing is you have to have creative ways to reach them and turn their perspective around. How creative are you and what do you use to change their mindset? How do you get them to have that Aha! moment?

You have to meet them where they are in the moment. Fast lane mentality is over their head. They're not ready for that.

 

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[Mattie]

http://finance.yahoo.com/blogs/dail...strap--yourself-out-of-poverty-172104522.html

 

[Nadia]

The thing about the poor is that they dont have the drive to do something like this. They want instant gratification with little work. Thats why so many poor people play the lottery or have tons of kids to get government handouts.

You could turn them into wifi hotspots though.

GOLD. GOLD. GOLD. LOVE

 

[Nadia]

I love the idea, don't get me wrong, but it is idealistic.

I love the comment of generational vs situational poverty. I have seen broke but NEVER poor. I've seen the second one after my business collapsed. It was a matter of time before I really sat myself down, found ways to make money and into the business I currently am in.

My Father ALWAYS said to me "Nadia, you will know a rich or poor man by his WORDS". As a little girl, I thought "Yeah, here is my dad again, leave me--I just want to watch TV!" But today in my mid-20's, I know why he said that to me when I was 7.

Poor people are lazy. I don't care what anyone says to me about that or challenges me. They are poor because they have limiting beliefs, I work with my clients on that bit and the fact is "wanting money is greedy" and all that nonsense that you hear from them.

If you had to profit of the poor (I am aware how morally incorrect that sounds), a pawnbroker is your BEST bet.

 

[IAmTheJeff]

Mattie, you're looking too far in to it. People that don't have money, and want to learn how to make money. The smart guy that has a job, but can't afford the $200 for Traffic Black Book. NOT the guy begging for change in front of 711.

 

[Mattie]

I've been trained by these people: http://www.goodsamministries.com/ The original Love incorporated. I don't think to deeply. I've had the experience of working with clients face to face. Along with other agencies in West Michigan that I had to do internships with to graduate. Like food pantries, homeless shelters, non-profit agencies, parent mentoring. Those populations are all side walk. Which most of their funds come from donors and fundraisers of wealthy people in the community.

Good Sam and Love inc. records people to make sure the system isn't abused. They help the people you're talking about that want to help themselves. If I've learned anything in life it is to have compassion, understanding, and empathize with people in their circumstances and situation. At the college I attended, every professor worked with these people through non-profits, mental health, and department of Human Services. They trained me well, and thankful for the education and experience.

It's easy to judge people. I't's easy to say their lazy under the extreme judgments, pressure, and stress to perform now by outside influences. The one thing they lack at first is awareness and mental toughness. It is something they gain with the right leader in front of them. If you don't believe people can change, it really stops you from being effective. They see right through you. That's where you lose the business.

 

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[Thriftypreneur]

Throwaway idea based on something I used to do....

We see a lot of threads like these:
https://www.thefastlaneforum.com/co...ss-vs-start-making-money-in-a-business.53012/

A LOT of these questions are being asked on this forum.
People on the edge of desperation looking for information and guidance,
looking for an easy win.

You know that for every SINGLE post we see here, there's hundreds of people searching daily.
There's a need for a product for these people.

I know what you're thinking:
"These people don't have any money to spend on a solution".
You're right... but a direct transaction isn't the only thing they have to offer of value.
They have friends, social media accounts, emails, phone numbers, and most importantly: TIME.

These people have more TIME than money, more TIME than common sense, more TIME than self respect.
They are OOZING time and attention.

So, how can you benefit from people who are cashpoor?
There are plenty of ways.

Create a step by step guide, call it "hobo marketing"... how to make a living when you have nothing and zero time. Make it a GREAT guide, full length, with plenty of examples...

Instead of charging money, you require them to do something else for you. Complete CPA offers, Share videos to their social media accounts for cheap views, pass out fliers around their neighborhood with photographic proof, or just sign onto an email list so you can market other 'freebie' things to them later.

If somebody does this, send me a PM. I'd like to check out your execution!

Isn't this what most of the Make Money Online marketers do? Maybe not action based like you're talking about, but writing courses for making a million with wordpress and get rich quick info products. Sounds like a WSO from Warrior Forum. Go take a look over there. There's some of the scammiest, over hyped, useless products ever constructed that target the market you're talking about.

 

[DennisD]

Isn't this what most of the Make Money Online marketers do? Maybe not action based like you're talking about, but writing courses for making a million with wordpress and get rich quick info products. Sounds like a WSO from Warrior Forum. Go take a look over there. There's some of the scammiest, over hyped, useless products ever constructed that target the market you're talking about.

As I was writing I thought that maybe my entire post came off like that....

But the message I was trying to convey is "okay, lets problem solve: How can we help people who dont have money, and still profit?"

The entrepreneur stuff was intended to be secondary... could be aimed at new parents, teenagers, job hunters, etc.... anybody with more time than cash.

Sent from my KFTHWI using Tapatalk

 

[IAmTheJeff]

"okay, lets problem solve: How can we help people who dont have money, and still profit?"

could be aimed at new parents, teenagers, job hunters, etc...

This is the stuff that makes billionaires. Rep$ for you!

 

[RogueInnovation]

why are you thinking this?

I'm curious as to if there is a more developed line of thought/motivation

Its not that I don't get excited by the idea, its that, it has to mature some, and pass the neglect test

If somebody does this, send me a PM. I'd like to check out your execution!

IOW, you plan to neglect it



I can understand that cuz... You think the payoff will be dingy work

I however don't think its that easy to just neglect it right away
Replace "make money from" with "understand the usefulness of people beyond money"
and I agree

I like that you think this, but, where to next?
Will you stay with the thought or let it slip, as everyone does?

Is it
a) just words
b) something to continue
c) a purpose to drive a solution?

 

[DennisD]

I like that you think this, but, where to next?
Will you stay with the thought or let it slip, as everyone does?
Is it
a) just words
b) something to continue
c) a purpose to drive a solution?

It's
d) a shiny object.

I can't abandon my existing business every time I think of a good idea.
But I will posts threads like this so the ideas can hopefully be put to use by somebody else in the meantime.

 

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[RogueInnovation]

d) sounds about right, its the same reason I don't
So crazy busy tryin to get a good thing goin

The question remains then, how do you make it dirty enough to work?

I can't abandon my existing business every time I think of a good idea.

But also in the same token, if we don't push our comfort zone, how can we say we gave it a fair chance?
Cuz we offload it to others?


I feel it is a tough road to walk down.

The question isn't if its a good idea, its how a person interprets it and gets it to work.

Its a brain bender...

 

[jon.a]

I get it.
Human capital. But, not the forced labor camp type.
"Goodwill Stores" is supposed to be doing this.

I've had similar thoughts but in an offline way.
Alas, we have labor laws to protect the needy from the greedy capitalist in the US.

 

[DennisD]

d) sounds about right, its the same reason I don't
So crazy busy tryin to get a good thing goin

The question remains then, how do you make it dirty enough to work?



But also in the same token, if we don't push our comfort zone, how can we say we gave it a fair chance?
Cuz we offload it to others?


I feel it is a tough road to walk down.

The question isn't if its a good idea, its how a person interprets it and gets it to work.

Its a brain bender...

In his podcast, @snowbank says at the top of every episode "The money as an entrepreneur is made by seeing opportunities other people can't."

• CouponMom.com emails weekly coupon combinations to get in-store items for 50-100% off... and sells adspace in the weekly emails.
• TheFrugalFilmmaker gives tips and tricks on how to build your own inexpensive film equipment, and used the social capital and exposure to croudfund his own indie movies (fans shared the campaign via social media as "payment")
• Cooking with jack shows inexpensive ways to make dinner, which he used to launch a smalltime hotsauce brand (his inexpensive hotsauce is a key ingredient in many dishes)
• My friend Justin is launching a plugin which gives away gifts in exchange for a youtube subscription.

Here's one of mine:

Back when I ran a mid-sized gaming website (got 15K hits/month) I was developing a plugin for the game.
It was a service that allowed server owners to reward their players with in-game items in exchange for completing CPA surveys.

These gamers had more time than money. They would gladly give their information, mailing address, emails, etc. to advertisers in exchange for a temporary competitive edge against their friends in-game.

The server owners were so interested, I raised 5 figures worth of preorders/investment for early access.

There are a billion-and-one ways this business model could be spun. I know that there are ways. I'm excited to see how OTHER PEOPLE will use this to their advantage.

 

[DennisD]

"Goodwill Stores" is supposed to be doing this.

"Goodwill" is an amazing example of a business with a creative business model. Something similar I once worked with:

When I worked at the ad agency, a client of ours was Bono's (RED).

(RED) was a FOR PROFIT company with a very interesting business model.
It was a BRAND that product owners knew raised product sales, because people got the warm/funny feeling inside.

Products would sell a specialized product with the (RED) brand on it. Musical artists would throw (RED) concerts.
For each (RED) product sold... a portion of the % would go to the Global Fund and (RED) would keep a portion, as well as partnered companies enjoying higher sales themselves.

Customers who purchased the item felt like they were doing something positive with their money. "I was going to buy new shoes anyways, at least this way a % of it went somewhere good". They also had the (RED) product/souvenirs that acted as some sort of social badge.

 

[RogueInnovation]

I like that, value is like pressure, releasing that pressure as money from your customers is not always the key strategy.

 

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[100k]

Are you currently selling to the poor?

I take it you're selling ebooks (i.e how to make $$$ or something like that) ?

May I know how much traffic you push to your offers and through what means (i.e seo/fb ads/ other) ?

 

[DennisD]

Are you currently selling to the poor?

I take it you're selling ebooks (i.e how to make $$$ or something like that) ?

May I know how much traffic you push to your offers and through what means (i.e seo/fb ads/ other) ?

I don't personally sell to the poor anymore.
My main commodity is B2B Video-Marketing services, software, assets, and information.

 

[Bowden]

I grew up poor as f*ck and I can tell you this from what I remember about it.

They worked HARD at the shitty local jobs and came home. Drank with neighbors.

They didn't have internet. No smartphones, none of that mess.

They don't want handouts. They work for what (little) that they have.

Now that the stereotype about them not wanting to work hard is out, what would do you to reach them?

 

[Aidan]

I grew up poor as f*ck and I can tell you this from what I remember about it.

They worked HARD at the shitty local jobs and came home. Drank with neighbors.

They didn't have internet. No smartphones, none of that mess.

They don't want handouts. They work for what (little) that they have.

Now that the stereotype about them not wanting to work hard is out, what would do you to reach them?

I wouldn't necessarily write it off as black and white; a stereotype. Back in my old City I knew a lot of poor people that just lived off of welfare, where many of them couldn't be bothered to do anything.

It really depends on location, opportunities, outside influence, etc. There are many factors playing into the life of the poor.

 

[chrischapman]

These people have more TIME than money, more TIME than common sense, more TIME than self respect.
They are OOZING time and attention.

absolutely. there are a lot of poor high school students (and primary school students I guess) that will waste their 'infinite' time to make a bit of money. they will spend an entire afternoon and evening looking on the internet for some genuine way to make money like by doing online surveys - usually they don't get paid and it's too much effort/too hard so they give up. but they would easily spend 5 hours doing easy stuff playing on the internet for $10 as long as they could get the money right away.

if you can find a way to get such time wasting people to waste their time making you money somehow, you'll be RICH...

 

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[ryanbleau]

Was raised in the ghetto by parents with no desire to do better. All of my brothers are small business people because of our upbringing. Worked in the ghetto for years and saw things that went contrary to common sense. I have Aspergers and don't play well with the sympathy card. The poor are there because they want to be. It's easier than working 40hours+ a week. They like instant gratification and spending money they don't know how to save. I have no problem giving them something to spend it on.

 

[minivanman]

What are you defining as 'poor'?

 

[Dami-B]

I love the idea, don't get me wrong, but it is idealistic.

I love the comment of generational vs situational poverty. I have seen broke but NEVER poor. I've seen the second one after my business collapsed. It was a matter of time before I really sat myself down, found ways to make money and into the business I currently am in.

My Father ALWAYS said to me "Nadia, you will know a rich or poor man by his WORDS". As a little girl, I thought "Yeah, here is my dad again, leave me--I just want to watch TV!" But today in my mid-20's, I know why he said that to me when I was 7.

Poor people are lazy. I don't care what anyone says to me about that or challenges me. They are poor because they have limiting beliefs, I work with my clients on that bit and the fact is "wanting money is greedy" and all that nonsense that you hear from them.

If you had to profit of the poor (I am aware how morally incorrect that sounds), a pawnbroker is your BEST bet.

Start a betting site

 

[ryanbleau]

My wife and I were discussing the poor culture and what business we could create that would thrive in that environment. I've had several good ideas but my morality wouldn't allow me to exploit the nature of urban culture and create a more unsafe environment. The reality of the poor market is they are fueled by cheap vices and in the moment experiences. If you tap into one or the other you can do well. That's why strip clubs and liquor stores do well in poor neighborhoods. Drug dealers are some of the best sales people you will ever meet. Figure out a way to make their lifestyle easier to maintain than it already is but tie it to a vice and you would have a winning product.