Quote from: Fivestar4everMVP on September 03, 2023, 12:20:05 PM

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Quote from: Queentoshi on August 22, 2023, 02:49:38 PM

I came across this tweet, so the reference is the username. I thought it was a topic worth bringing up for discussion to see the choice that will be made by forum members. This topic is about solving problems as a service you render to make a living. Which of the problems will you prefer to solve as a service you render? the problems of the poor? or the problems of the rich? (support your choice with a reason)

I wasn't aware that the rich have so many problems at the moment that's why I would rather be focusing on the poor people. Poorer people are always struggling and there will be new chances every year to provide helpful service. The only issue is that there isn't a lot of money to be made from the customers. The path to success here is to provide services to a large group of people to become profitable. When focusing on the rich people it's the exact opposite, there will only be a small number of clients. Another issue is how are you going to reach your customers. Social media is great to reach poorer people and attract them to your services, but not the rich and wealthy people. I think that to build up a customer base of high net worth individuals you need to have a big network. Best to focus on the area where you already have connections today and don't have to start from scratch.

Both are good, but just to add on rich, it is only small people that kind of purchase or avail your product, but it is one time, big time. Just imagine those luxurious cars, watches, and many more that only rich people can afford, but still they are earning a big profit as long as it has a name on it. On the poor side, it takes time to accumulate that money, but still they will purchase from you. What's good about serving poor people is that you can help them, and that makes you fulfilled as you are doing business while helping them.

This is true, why cater to only the rich when you can cater to both parties and earn more? In businesses, especially if your goal is to get as much profit as you can, then it is simply better to just sell as much as you can to either rich or poor clients/customers. This is absolutely good advice for businesses that are just starting as you want to attract more customers/clients, and being picky with whom you will sell your product/service will not help your case. You want to be known out there, especially since you will have competitors that are trying to attract the same target clients/customers you have, therefore widen your scope and you will also expand the possibility of profit.
To be honest with you, serving poor people will make you richer than serving rich people as long as you are making money from the service you are providing or offering, like I said in my previous comment, poor people are always eager and ready to spend more money to have their problems solved than rich people.

Using the same car you mentioned as an example, a car dealer who specialises in selling only expensive cars that only Rich men can afford, might end up selling just two or three cars in a whole month because there are also other car dealers out there, he's not the only one doing the business, but the car dealer who specialises in selling both cheap and expensive cars, might end up selling 20 cheap cars in a month and two or three expensive cars in the same month , at the end of the day, if we calculate the profit of this two car dealers, we will discover that the car dealer who specialises in selling both expensive and cheap cars made more profit than the one that only sells expensive cars..

Like I mentioned before, as a business or as a person, nothing stops one from serving both the rich and the poor, I think it all depends on where you live, if you live in an area where only rich men stay, then you can serve only Rich men, but if you live in an area where both rich men and poor men are staying, nothing stops you from serving both.