BUSINESS CARDS – If you have a business to consumer (B2C) business, you can use tools like SimplyAnalytics (often available at public libraries) to identify the ideal market demographic, known as a Groups and Types in SimplyAnalyticsSimplyAnalytics, for your product or service. Within the text of each “Type”, the segment is a description of the […]
3 Marketing Ideas to Create Brand Awareness For Under $10 Read More »
Brand awareness often is not directly responsible for making sales, but aids in the conversion rates of more direct marketing and sales efforts. The brand’s message has to be constantly repeated to cross the divide from the unconscious mind to the conscious mind before it becomes effective. Therefore, brand awareness is a constant effort. It
5 Free Marketing Ideas to Create Brand Awareness Read More »
Struggling to Turn Your Marketing Efforts Into Actual Sales? The Secret Lies in Balancing Brand Marketing and Direct Marketing Strategies—Planting the Right Seeds Before Expecting a Harvest. Discover How to Build Awareness, Earn Trust, and Drive Immediate Conversions in a Way That Ensures Long-Term Business Success.
Planting Seeds vs. Harvesting Sales: Understanding Brand Marketing vs. Direct Marketing Read More »
Many Government-Issued Licenses Still Exist Long After Their Original Purpose Has Faded. Are You Guilty of Doing the Same in Your Business? Let’s Explore the Parallels.
Are You Running Your Business on Outdated Rules? Here’s How to Reevaluate Read More »
When you have a company that sells Business to Consumer (B2C), canvassing a neighborhood in the early stages of the business when you have more time then money can often be an effective way to gain customers. When ringing a stranger’s doorbell, it is best to start out with a few non-business questions/statements to build
How to Canvass a Neighborhood Read More »
Discover How A Simple Sequence Of Roadside Signs Can Create A Lasting Marketing Impact. Learn Why This Old-School Strategy Still Works In Today’s Digital Age.
Roadside Advertising Secrets: How Sequential Signs Still Win Attention Today Read More »
Some businesses have made their mark using outdoor or billboard advertising. Anyone traveling across the country on I-80 will remember passing billboards promoting Little America’s “50 Cent Cones – 15 Miles”, or billboards promoting Wall Drug on I-90: “Free Ice Water, Wall Drug”. Billboards can be a very effective way to build brand awareness or
Make The Most Of Outdoor Advertising Read More »
Every Customer, Regardless of Your Industry, Wants the Same Nine Things. Learn How to Recognize and Deliver What Truly Matters to Your Customers—Before Your Competitors Do.
The 9 Things Every Customer Really Wants (And How You Can Deliver) Read More »
Each month I sit on a panel at the US Air Force Academy where soldiers, sailors, and airmen are preparing for life as civilians. Around the room are flip chart pages that list the things these separating officers and enlisted folks want from their future employment. Always near the top of the list is job
Rise of the Micro Business Read More »
If you are a savvy entrepreneur, you don’t go into anything cold. With the Internet and a plethora of other resources, you can warm up any call quickly, and not waste your time or your potential client. Doing your homework first is one of the best ways to get an advantage over your competition. If
There’s No Such Thing as a Cold Call Read More »
Social Security is a major component of payroll in any business. Social Security is essentially a federally administered fixed annuity. A fixed annuity is a readily available commercial insurance product where a person makes periodic deposits in return for fixed future payouts. With a fixed annuity the issuer (the insurance company or the government) assumes
Do We Need Social Security? Read More »
Longhorn Cattle were introduced to the Americas by the Spanish between the 16th and 18th centuries. The cattle industry back then was primarily a small-scale industry. Beef was not very popular, so cattle were raised primarily for the value of their hides. Because there was no refrigeration, any cattle used for beef had to be
What We Can Learn From The Texas Cattle Industry Read More »
We know that people are motivated by status and not money, and often buy high-status luxury items like cars, watches, or electronics to flaunt their status. However, studies have also shown that people buy pricey goods when they are experiencing a bout of low self-esteem in an effort to make themselves feel better and relieve
Feeling Blue? – Buy Something Read More »
My grandparents legally immigrated to the US from Germany after WWI. With an identified sponsor and a trade, the path to legal immigration was open to them. Today this is not the case, so what is different today? The answer is robust social welfare programs paid for by citizens, who often make more than new
Illegal Immigration is Good Read More »
That got me thinking about the role licensing plays in business. A common belief is that state licensing is necessary to protect the public from bad actors. The reality could not be further from the truth. Can you imagine a group of people getting together and spending their time and money to create a petition
Is Licensing Really Necessary? Read More »
I recently read an article about Uber Taxi that got me thinking about the role the government plays in creating monopolies. For those not familiar, taxis are licensed and are given a medallion to prove they are licensed. Uber Taxi is a ride-sharing mobile application where any car owner can list their location and make
Monopolies Require Government Assistance Read More »
Most Decisions Have Tangible and Intangible Impacts. Savvy Entrepreneurs Know That Success Depends on Weighing Both—Not Just What You Can Easily Measure.
Tangible vs. Intangible Measures Read More »
Retirement accounts qualify for special tax treatment by the IRS. A common retirement account is a 401k, where pretax dollars from you, which are often matched by your employer, are deposited into an account and allowed to grow tax-deferred. These funds are designed to create income during retirement and are subject to premature distribution penalties
Using a 401k Loan to Fund Your Business Read More »
By transferring a traditional IRA into a self-directed IRA, the IRA owner can invest in private businesses and in real estate as well as traditional sources
Using a Self-Directed IRA to Fund Your Business Read More »
Many would-be entrepreneurs have money tied up in retirement plans like IRAs or 401ks that could be used to fund their businesses. Many simply believe they can’t access these funds until they reach the age of 59.5 without being subject to a premature distribution penalty. That being said, there are a few ways that you
Retirement Account Funds New Business Read More »
Wealth can be defined as a measure of one’s assets in the form of cash and equivalents as well as the market value of ones physical and intangible assets. These assets are accumulated during one’s lifetime with after-tax income. Therefore, the current use of graduated income tax rates, which applies to ones earned income, interest
Graduated Income Tax Accelerates Wealth Divide Read More »
Excessive Company Profit Is Not Inherently Unfair. The Profits from Success Business Ventures Offset the High Number of Business Failures. If High Profit Was Not Possible Nobody Would Invest. Moreover, When A Business Sees Success, It Is Often Fleeting and Requiring Investors to Demand a Return-To-Exit.
Why Entrepreneurs Need High Profits Read More »
Discover How Local Economic Developers Are Giving Small Businesses Access to Powerful Benchmarking Tools Like SizeUp. See How Your Business Measures Up Today.
How to Benchmark Your Business Like a Pro With This Free SBA Tool Read More »
Income tax is paid on a company’s Net Profit which is the amount that is left over after you subtract your COGS, business operating expenses and allocations.
Business Income Tax – What You Need To Know Read More »
I think we would all agree that making a profit is the incentive to take risk through investments. Moreover, it takes investments to stimulate innovation. But innovation creates productivity gains, which in turn eat into profit. For example, a tractor that costs as much as the labor cost for 150 workers, but which can do
Who Really Benefits Most From Business Investments? Read More »
Sometimes we need to know when to quit, but sometimes we need to hang on to obtain our dreams. There are several times when a business’s prospects might look pretty grim. At these times, if the owner was offered a fraction of the money they had invested in the business, they would gladly take it
Knowing When to Hang On Read More »
Let’s face it. Many business ventures will ultimately fail. Unfortunately, there are no signposts along the way that says “Exit now or face financial ruin”. Entrepreneurs often hang on, ignoring the signals that their business is doomed based on pride, or sometimes they just can’t see the forest for the trees. I have often heard
Knowing When to Quit Read More »
The sustainability of your business revenue is important to understand if you want to keep your business solvent.
Not All Business Revenue Is The Same Read More »
In the news, you often see that the US accuses China of being a currency manipulator by artificially keeping their currency low. If their currency were allowed to rise, goods produced in China would get more expensive in the US and we would buy less of them. Higher prices would mean that Americans would have
How to Leverage China’s Currency Manipulation to Your Advantage Read More »
A trade deficient or a trade surplus unto themselves are not necessarily bad things. A trade deficit simply means that you buy more from your trading partner than he buys from you. The opposite is true with a trade surplus. You have a trade deficit with Wal-Mart, but a trade surplus with your employer. If
Understanding the Trade Deficit for American Business Read More »
Most Debt Gets a Bad Rap, but Not All Debt Is Created Equal. Learn How Entrepreneurs Use Strategic Borrowing to Fuel Growth While Avoiding Costly Pitfalls.
Why Some Debt Makes You Rich and Other Debt Keeps You Broke Read More »
Labor is a major component cost of any product or service. The lower the labor costs, either the wider the margin or the cheaper the price of the product or service. Cheap labor can be had by either opening our borders to immigrants who are willing to work for less, or by outsourcing. I contend
Immigration vs. Offshoring? Read More »
The rule of 72 is a simple tool to calculate how long it takes to double your money. Your money will double in value if the product of multiplying the interest rate by time equals 72. The formula is Interest x Time = 72. So given a 10% annual investment rate it will take 7.2
The Rule of 72 for Doubling Your Investment Read More »
Working More Hours Won’t Make You Rich—But Understanding How to Leverage Free Cash Might. Learn Why Investing, Not Hustling, Is the True Wealth Strategy.
Why Working Harder Won’t Make You Rich (And What Actually Will) Read More »
State lottery games take in about twice as much money if they pay out to the winners in a single lump sum vs. a series of 29 annual payments. Furthermore, the overall odds of winning are not very good: 1 in 259 million for Mega Millions, to quote their website. However, when the jackpot gets
The Lure of Big Money Read More »
Let’s explore an extreme scenario. If you could get all the labor you need to run your business for free how much of it should you buy? I would say “use all the free labor you could get” since with no labor costs your company and more importantly its owners can earn a higher return
Is Offshoring Work to India and China Really a Bad Thing? Read More »
Investments made in your own business or in the stock market have investment risks that can be broken down into seven distinct types of risk.
The Seven Types of Macro-Environmental Risk Read More »
Taxing the rich reduces the relative incentives and encourages more coasters. In school, smarter people should not get a harder test simply by the virtue that they work harder than the slackers that do not study. We should reward people for risking their personal capital to start a business that creates employment. Rewarding lucky risk
Is Taxing The Rich Sound Economic Policy? Read More »
3 types of Investment risk. Greater risk = great rewards. Range = Inventory, least risk/reward, thru production equipment, to innovation most risk/reward.
Understanding the Investment Risk Continuum Read More »
Harness The Power Of Extremes To Spark Motivation In Yourself, Your Team, Or Your Customers. Discover Why The Middle Of The Pack Is Often The Dead Zone For Growth.
Harnessing the Power of Extremes: Why the Middle is a Motivation Dead Zone Read More »
As a hunter, I appreciate a buck with a large set of antlers. However, it is not the absolute size of his rack that makes him able to defend his does from his adversaries, but his relative size to the other bucks. As the saying goes, “You do not need to run faster than the
Absolute vs. Relative Values Read More »
Understanding the True Motivator Behind Human Behavior Can Revolutionize How You Lead, Market, and Sell. This Post Explores Why Status—Not Salary—Is the Real Carrot and How You Can Use That Insight to Connect More Powerfully With Others.
Why Status, Not Money, Is the Real Driver of Human Motivation Read More »
Economies grow through incentives or the lack of disincentives for business investment. In pro-business countries like the US, the cost to lay off an employee can range from two weeks to six months of the person’s salary. In pro-labor countries, like many in the Europe Union, the cost to lay off an employee can exceed
Pro-Labor or Pro-Business? Read More »
When I hear politicians say that we need to bring more offshore manufacturing jobs back to the US, to me it is like saying that we need to move more employment back to the farms. Often the dialog related to manufacturing jobs includes references to more skilled jobs with higher wages. There is one very
Manufacturing is Not The Answer Read More »
People at the top of the wage scale are mostly employed in “thought” oriented jobs. The productivity of thought oriented jobs has been increasing at a greater pace than the productivity of workers at the bottom of the wage scale, who are mostly employed in “manual labor” oriented jobs. With increasing productivity comes larger margins,
Why the Rich Get Richer Read More »
Often a company will spend months or even years developing a new product. The labor and material used to develop a new product or offering is considered Research and Development (R&D). R&D is often considered an expense to the company. Expenses are deducted from Revenue in the year they are incurred and help to reduce the
Should you Amortize or Expense your R&D? Read More »
People don’t buy a radar detector until after they get a speeding ticket, and they don’t buy life insurance until after a bad doctor visit or the sudden death of a friend. Let’s face it: people fear change. They avoid action until an external event, like getting a speeding ticket or a bad report from
How To Make A Customer Viable So They Will Buy From You Read More »
Robert Kiyosaki, the author of Rich Dad Poor Dad, uses a model he calls the Cash Flow Quadrant to explain different ways income is generated. The last quadrant is Investor. As an investor, it is all about having your money work for you. As an investor, you can spread your investment money around to achieve
Investor – Cash Flow Quadrant Read More »
Robert Kiyosaki, the author of Rich Dad Poor Dad, uses a model he calls the Cash Flow Quadrant to explain different ways income is generated. Being a business owner is different from being self-employed in that as a business owner you hire employees to do the work. That is not to say that the business
Business Owner -Cash Flow Quadrant Read More »
Robert Kiyosaki, the author of Rich Dad Poor Dad, uses a model he calls the Cash Flow Quadrant to explain different ways income is generated. When you are self-employed, you own a job. The government also refers to this group as non-employer businesses, where the owner is the only employee. When you are self-employed you
Self-Employed -Cash Flow Quadrant Read More »
Robert Kiyosaki, the author of Rich Dad Poor Dad, uses a model he calls the Cash Flow Quadrant to explain different ways income is generated. When you are an employee you know you will get a paycheck as long as you continue to work for the business, even if the business is not profitable. Earning
Employee -Cash Flow Quadrant Read More »
Most business owners appeal directly to their customers, but sometimes an indirect approach may work better. Since I make my home in Colorado, where recreational marijuana is now legal and high capacity magazines are not illegal, I can see how politicians use these indirect means to drive their people to the polls. For example, in
Indirect Marketing Efforts Read More »
The owner, or the person that invests in a new business, gets paid out of the business’ profits. An employee gets a guaranteed wage paid by the owner/investor. Therefore, the employee cares about getting a paycheck, while the owner cares about the ongoing success of the business and profits. We own a few income properties
Owner vs. Employee Mentality Read More »
Regardless of whether you are selling a product or selling your business it is important to make sure you understand what the customer is buying. An early mentor of mine by the name of Ron Muns had a business that developed software to track a company’s assets. After sales began to ramp up to unexpected
Know What The Customer is Buying Read More »
Small Businesses Often Undervalue Their Role When Partnering With Larger Companies. Learn How a Simple Hotdog Vendor Can Teach Us to Rethink Our Negotiation Power.
Many people, and many businesses for that matter, really do not understand the difference between an asset and a liability. When asked what is your biggest asset most people will say their house. An asset is essentially something that helps put money in your pocket and a liability is something that takes the money out.
One Person’s Liability is Another Person’s Asset Read More »
Just Because You Hear Something Repeated Often Doesn’t Make It True. Learn Why Critical Thinking Is a Superpower in Business and How to Start Using It Today.
Why Smart Entrepreneurs Question What Everyone Else Accepts as Truth Read More »
Three-quarters of all firms in the United States are categorized as “non-employers”. Non-employers are business that provides work for only a single or part-time owner. While small businesses which employ many people are usually started in response to marketplace opportunities, non-employer business is often started as occupational decisions. They can be a way to deal
How to Leverage a Turning Tide Read More »
Being totally committed and all in on the success of a business can be the difference between having a successful business and quitting before the business has had a chance to takes off. A few years ago I planted a garden for the first time in several years. The first few weeks were brutal. I
Are You Committed? Read More »
Successful Entrepreneurs Choose The “Best Path” To Their Goal, Not The Easiest Or Shortest Path And Are Willing To Sacrifice Much To Obtain It.
Do You Have What It Takes To Be a Successful Entrepreneur? Read More »
A wise man once told me: “If you have a successful business, you will need more money.” He also said: “If you have an unsuccessful business, you will need more money.” The undisputed leading cause of business failure is that businesses just run out of money before they become profitable. Access to capital is, therefore, the
Do You Have Access To Capital? Read More »
It Is The Knowledge You Gain In All Facets Of Business That Will Ultimately Help You Achieve Business Success.
Take Baby Steps To Avoid Business Failure Read More »
Sales opportunities exist in a declining market. When consumers cut back they look for savings. Try to repackage or reprice offerings to take advantage
How to Make Money in a Declining Market Read More »
Each customer is different in terms of their needs and ability to pay. There is no rule that says that every customer needs to pay the same price for the same product or service. Working on a government contract has more overhead than working on a commercial account. As such, the billing rate we used
Pricing Strategies – Pricing by Customer Read More »
Sometimes you have a new product or service category with little or no competition and are free to charge whatever you want for early adopters. When I had an Invisible Fencing franchise the sum of direct costs for a self-install kit was about $100 in parts and another $100 to cover the parent company’s national
Pricing Strategies – Pricing by Available Options Read More »
Small business owners often live and die by controlling their cash flow. Having a customer pay for products and services as they use them may not provide sufficient cash flow to your business. Getting the customer to prepay for products or services can be the difference between surviving and dying. Smart tools and gift cards
Pricing Strategies – Pricing for Cash Flow Read More »
Limited availability or scarcity is a powerful tool to create the premium pricing. There is only one Super Bowl per year with only a fixed number of seats. Tickets prices rise to meet demand. Furthermore, there are only so many ads spots during the Super Bowl. Here again, prices rise to balance out demand. The
Pricing Strategies – Pricing by Limitation/Availability/Scarcity Read More »
Contrary to popular belief, people are really not motivated by money. They are in fact motivated by status. More money simply gives folks the ability to buy more status symbols, which they can use to flaunt their status. That being said, most people equate a higher price with greater status. We all know that a
Pricing Strategies – Pricing by Status Factor Read More »
Within a few hours after the September 11th attacks, you could not find patriotic items like flags anywhere. Even before the day was out there were secondary markets set up selling flags and other patriotic items for more than ten times their price before the attack. Many store owners were not collecting the price premium.
Pricing Strategies -Pricing by External Factors Read More »
If a customer has to go to some effort and expense to join a club they often develop a sense of loyalty. Sam’s Club and Costco restrict shoppers unless they have a membership, which they get customers to purchase up front. Good Sam’s (a camping membership) allows members to get discounts at participating campgrounds while
Pricing Strategies – Pricing For Loyalty (Membership) Read More »
Customer acquisition costs represent a significant indirect expense. Once you acquire a new customer you should implement strategies to keep them coming back again and again. When you fly you often have a choice of airlines that fly the same route. To encourage repeat business many carriers offer frequent flier miles that equate to perks,
Pricing Strategies – Pricing For Loyalty (Repeat Business) Read More »
If you are not pricing your service based on the time of day you are leaving money on the table. Many businesses have peak demands at various times of the day. Popular restaurants are generally full between 5:30pm and 7:00pm for the dinner rush. Many restaurants have early bird specials to drive customer traffic for
Pricing Strategies – Pricing by The Time Of Day Read More »
Anyone that has ever shopped for the best airline ticket prices and is flexible on their travel dates knows that flights are cheaper on Tuesday through Thursday and higher on Monday and Friday. Since most business people travel on Mondays and Fridays demand for these seats is high, driving up per seat prices. Since flights
Pricing Strategies – Pricing by The Day Of The Week Read More »
Businesses that have inventory often have a seasonality to their sales. Holding unsold inventory for a year to wait for the next peak season ties up valuable capital. Savvy business owners mark up prices when demand is high and steeply discount merchandise at the end of the season to convert surplus inventory into cash. For
Pricing Strategies-Pricing by Season Read More »
It is my experience that no two people pay the same price when they book an airline ticket. The list price for an airline seat varies depending on the number of seats already sold and the closeness of the purchase date to the departure date. If an airline fears that a flight will have too
Pricing Strategies – Pricing by Units Available Read More »
As a way to obtain new customers you can offer your product or services at a price that is less than your direct cost. Cell phone companies offer new phones for less than the actual cost of the phone in exchange for an extended contract. Razors are often sold at a loss based on the
Pricing Strategies – Loss Leader Read More »
Once you know the minimum price you can accept to meet or exceed your breakeven, you are ready to price your products or services to achieve strategic business objectives. Pricing your product or service properly is one of the most overlooked marketing strategies you can employ to achieve the business results you desire. Over the
Pricing Strategies – Volume Discount Read More »
New disruptive inventions don’t only affect manufacturers like our button manufacturer in yesterday’s post. Sometimes technology affects service businesses as well. Let’s consider the safety razor and the impact it had on the barber industry. While Jean-Jacques Perret invented the safety razor in France during the latter part of the 18th century, the invention reached
How Disruptive Technology Can Affect Your Business Read More »
Several years ago I attended a presentation by Daniel Burris, the author of the book “Techno-Trends.” The opening line of a presentation that still resonates in my head to this day is “The future is already invented”. After a long pause to allow the line to sink in, Mr. Burris began talking about technology life
Is Your Business On A Path To Extinction? Read More »
Many new business owners make several formation errors during and after the registration process that can come back and bite them later. 1, One common formation error is that the registering agent fails to include an entity identifier in the name, such as LLC or Inc. 2, Once registered, many LLCs fail to produce an operating
Seven Common Business Formation Errors Read More »
A business associate of mine once used to charge $5,000 per day for his consulting services. I asked him once how he came to that rate and he said he heard someone was charging $4,000 per day and he wanted to be sure he was the most expensive option available. At the time he billed
Harness the Power of Expectations and Price Read More »
In behavioral economics, we never want to lose our options. We often keep our doors open even if we never have any intention to go back through them. It is our often irrational fear that once we close the door we’ll have the need to get back that prevents us from moving forward in a constructive way.
Harness the Power of Keeping Options Open and Fear of Loss Read More »
As a rule, faced with two similar options and one dissimilar option, behavioral economics says that most people will discard the dissimilar option and choose between the similar options based on our hardwired need to compare two like things. Furthermore, behavioral economics shows us that by contemplating a number, which in fact can be quite
Harness Our Need to Compare and Decoy Prices Read More »
Remember when Blu-ray and HD DVD were competing for head to head and it became clear that Blu-ray was going to emerge as the standard? Savvy retailers, knowing that buyers respond in irrational ways to the word “Free”, began to offer HD DVD players that sold in the neighborhood of $400 a piece with “Five
Harness the Power of Free Read More »
Discover How Behavioral Economics Can Help Small Business Owners Make Smarter Marketing Choices and Boost Profit Margins by Understanding Buyer Psychology.
Why Small Business Owners Should Master Behavioral Economics Read More »
Staying Tuned in to News Events and Policy Changes Can Give Small Business Owners a Powerful Edge. Learn How to Spot and Seize These Golden Moments.
How External Events Spark Sales Opportunities for Small Businesses Read More »
How Often Do We Buy Things We Never Intended To—Just Because We Tried a Free Sample? Learn How the Power of “Free” Can Boost Sales and Change Buying Habits.
How Free Samples Turn Browsers Into Buyers Read More »
Coming up with a great idea is the easy part. It is the execution of bringing your idea to market that is the hard part. I have run into many clients who have a great idea, around which they want to build a business. When I mention that they can license the product to a
Being an Inventor Does Not Make You an Entrepreneur Read More »
Americans are fixated on how much they make. People use their salary as a report card of sorts to compare their success to others. The problem is that income is often a poor measurement of success since it is decoupled from a person’s standard of living. It is not how much money you make, but
Salary vs. Standard of Living Read More »
I often encounter businesses that at their core are pure services businesses, but which also sell products as part of their offerings. For example, consider a small part-time mobile oil change business. They are primarily in the service business of changing a person’s oil. However, their service includes the sale of motor oil. I’m often
Sales Tax Workarounds for Service Oriented Businesses Read More »
Understanding How Value Creation Ties Into Wages Is Essential for Both Employees and Employers. Discover Why Raises Should Reflect Contribution—Not Just Tenure.
Wages and Worth: Helping Your Team Understand Value Creation Read More »
On a recent trip to visit our son, we went to dinner at a nice restaurant. When the meal was served my son’s Chicken Alfredo contained a rather large bone, on which he nearly choked. When the owner was summoned to the table he began to explain that it was not possible for the bone
Social Media Can Make Or Break You Read More »
When I worked in a corporate job I worked very hard and often had to put in extra hours to complete projects. However, when I left the office, I pretty much-left work behind. I had the time to coach soccer, go on vacations, and, overall, remain engaged in all aspects of the family. Family time
Business Ownership Changes the Entire Family Read More »
Task discounting is the phenomenon whereby people assign more value to near-term or simple tasks than they do to future or complex tasks, even if these tasks hold more value. Have you ever really stepped outside your business and challenged yourself to answer a simple question: Why do I do the tasks I do? If
Are You Guilty of “Task Discounting”? Read More »
Each generation has their own unique attitudes and behaviors that set them apart. Gen YBorn 1977-1994 (17 Years)Population size 71 million (4.2 million births per year) Gen Y’s are the children of the Baby Boomers. They lived their formative years with technology and grew up watching cable TV and playing on the Internet. As a
Gen Y Attitude and Behaviors Read More »
Each generation has their own unique attitudes and behaviors that set them apart. Gen XBorn 1966-1976 (10 Years)Population 41 million (4.1 million births per year). Members of Gen X were left alone to fend for themselves. Most were dropped off at daycare as very young children. When they reached school age they returned home to
Gen X Attitudes and Behaviors Read More »
Each generation has their own unique attitudes and behaviors that set them apart. Late Boomers –Born 1956-1965 (9 Years)Population size – 49 million (5.4 million births per year). Late Boomers lived their formative years with Watergate, which shaped their general mistrust of government. The oil embargo and other economic struggles squelched their optimism about the
Late Boomers Attitudes and Behaviors Read More »
Each generation has their own unique attitudes and behaviors that set them apart. Early BoomersBorn 1946-1954 (8 Years)Population size – 33 million (4.1 million births per year). Early Boomers lived their formative years with Vietnam and witnessed the assassinations of John F. Kennedy and Martin Luther King. They lived through the Civil Rights movement and
Early Boomers Attitudes and Behaviors Read More »
For our Everest expedition, the previous few years had offered a better than average weather pattern during the month of May, which is when most expeditions plan to reach the summit. The guides became complacent and assumed that May of 1996 would hold the same good weather pattern. They should have made their decisions based
The “Recency Bias” Read More »
The guides of the Everest expeditions often boasted that they could guide anyone with average fitness to the top of Mt. Everest. They were so confident that they ignored the 2:00 return to base rule and paid the ultimate price. In a poll taken of teen drivers, 93% indicated that they were better than average
The “Overconfidence Bias” Read More »
