Business By Hormozi #5: The Secret to Earning More: Solve Rich People’s Problems

Success in business isn’t solely about working harder—it’s about working smarter by targeting the right audience. "The Secret to Earning More" is a compelling story that underscores the importance of solving high-stakes problems for clients who value quality over cost.

Two Friends, Two Strategies: The Secret to Earning More

Mark and Jason, best friends since college, embarked on their professional journeys with shared enthusiasm. Mark managed a small business offering affordable graphic design services, aiming to help a large number of small businesses. Jason, on the other hand, worked as a freelance consultant with luxury brands, addressing complex challenges for clients who could afford top-tier solutions.

Despite their hard work, Mark found himself trapped in a cycle of low-paying gigs. His pricing strategy, aimed at volume, meant working with numerous clients just to make ends meet. Meanwhile, Jason’s selective approach allowed him to earn five times more by solving problems for a clientele that valued efficiency and excellence.

A Moment of Truth

One evening, during a candid dinner conversation, Mark expressed his frustration. “I work all day, every day, and I’m barely getting ahead. You work with fewer clients and make way more. How is that fair?”

Jason’s response was both simple and profound:“It’s not about how hard you work, Mark. It’s about who you work for. You’re solving problems for people who don’t have much to spend. I’m solving problems for people who are willing to pay more because their problems cost them more.”

These words resonated deeply with Mark, making him realize that his struggle wasn’t due to a lack of effort—it was the market he was targeting.

The Shift: From Price to Value

Motivated to break free from the cycle of overwork and low pay, Mark made a decisive change. He rebranded his business and shifted his focus from offering inexpensive logos to delivering premium brand strategy packages aimed at high-end businesses. Mark began networking with successful entrepreneurs, refining his pitch, and positioning himself as a specialist for luxury clients.

The results were transformative. Within months, Mark secured his first luxury client—a project that paid more than what he had earned in three months before. By choosing to solve bigger problems for those who could afford them, he finally broke free from the constraints of competing on price.

Key Takeaways: Competing on Value

Mark and Jason’s journeys reveal a powerful truth: if you want to earn more, direct your skills toward solving substantial problems for clients who recognize and are willing to pay for true value. The lesson is clear:

👉 Focus on high-value problems. Instead of chasing quantity, invest your efforts in quality relationships that reward your expertise.

By shifting the focus from volume to value, you position yourself as an indispensable asset to a discerning clientele—a strategy that can elevate both your career and your income.

Final Thoughts

"The Secret to Earning More: Solve Rich People’s Problems" isn’t just about financial success; it’s about understanding the market dynamics and aligning your offerings with the needs of those who value excellence. Have you ever rethought your strategy and experienced a breakthrough? Share your thoughts and experiences in the comments below, and join the conversation on redefining success in today’s competitive world.