More and more products can be produced and assembled by robotic assembly lines. Even services, such as those offered by CPAs and stock brokers, can now be performed by software tools or applications such as TurboTax or e-Trade. Recently, I read an article that said that with the threat of a monumental rise in the […]
The Robot/Application Arbitrage Read More »
Turning a hobby or a craft into a business often has a fatal flaw with scalability. Say you have a business that produces 100 units that you plan sell for $25 and it costs you $20 to produce it. As a small scale business, you are happy with a $5 profit on each piece since
How to Price Your Hobby and Craft Projects Read More »
The only parts that make it into the mainstream are parts that can be manufactured in the tens of thousands. These large batches then require complex distribution channels and warehousing of inventory that ties up precious capital. With small-scale 3D printers, laser cutters, and CNC machines, parts can be produced at the point of sale.
The Coming Cottage Manufacturing Revolution Read More »
The world of the entrepreneur has been blown wide open by 3D technology. If you have an object you need to reproduce, you can use a 3D scanner to replicate it. Don’t have one? No problem! Go to your public library or another location, such as a Makers Space. Don’t want to leave the house?
The New 3D World – Bits to Atoms Read More »
“The year was 1998 and eBay was little more than a glorified flea market with 6 million in sales,” recalls Meg Whitman when she became eBay’s CEO. Three years later eBay had $748 million in sales and 62 million registered users, becoming the envy of the dot-com world. Whitman attributes this growth to persistence and
The Meg Whitman School of Business Read More »
The questions you ask can produce different answers depending upon your viewpoint. Many centuries ago, there was a village in Europe that was hit by a strange plague. The plague caused the victim to fall into a deep coma that mimicked death. The coma was so deep that the doctors of the day couldn’t tell
Ask a Different Question to Get a New Viewpoint Read More »
Romance is one of four very powerful emotional appeals. Discover how using romance as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
Romance Is A Powerful Emotional Appeal To Get Attention Read More »
Recognition one of four very powerful emotional appeals. Discover how using recognition as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
Recognition Is A Powerful Emotional Appeal To Get Attention Read More »
Self-preservation is one of four very powerful emotional appeals. Discover how using self-preservation as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
Self-Preservation Is A Powerful Emotional Appeal To Get Attention Read More »
Money is one of four very powerful emotional appeals. Discover how using money as an emotional appeal will cause people to unconsciously stop what they are doing and pay attention to your marketing message.
Money Is A Powerful Emotional Appeal To Get Attention Read More »
There is really only one way to break a persons preoccupation (without physical contact) and that is to appeal to their emotions. Emotional appeals come in four irresistible flavors: money, self protection, recognition, and romance.
Make People Stop And Pay Attention With Emotional Appeals Read More »
As a company grows, things that worked when you were a startup might very well trigger your downfall. For example, what works in parenting a 2-year old will not work when they are a teenager. Moreover, what I say as a soccer coach to motivate my players during practice does not work during a game.
Time to Rethink Your Strategies Read More »
Most business ideas start small and grow as demand occurs. However, you can also unlock the potential of your idea by scaling it. When an idea is enlarged, it often exposes part of the idea that may affect you in ways unimaginable under traditional planning. As an example, imagine if you were baking two peach
Unlock Creativity by Scaling Ideas Read More »
The other day I went fishing and on my way home, I spotted a bunch of rafters floating on the Arkansas River. I got to thinking that sometimes it is harder to maintain your position when the world around you is moving. For the rafters to remain in one spot, it would take a considerable
Conserve Energy by Changing Your Position Read More »
Most people think that to earn more money you have to have an advanced degree. You may think that if you have a Bachelor’s degree, but aren’t making enough money, the answer is to go back to school and get your Master’s degree. Then you’ll earn more money, right? If you already have a Master’s
The Advanced Degree Read More »
Over the past three days, we discussed the first twelve principles to influence a sale from the book, “Rain Making Conversations,” written by Mike Schultz and John Doerr. Today, we will cover the last 4 principles. 13. Scarcity – “Buy it now! Only 2 left!” is a phrase we often hear. Scarcity is the most
Over the past two days, we discussed the first eight principles to influence a sale from the book, “Rain Making Conversations,” written by Mike Schultz and John Doerr. Today, we will cover the next 4 principles: 9. Stepping Stones – People are more interested in things they are familiar with. A good salesman takes the
Yesterday, we discussed the first four principles to influence a sale from the book, “Rain Making Conversations,” written by Mike Schultz and John Doerr. Today, we will cover the next 4 principles. 5. Emotional Journey – As we pointed out in the blog, “Stories to Create a Great First Impression,” a goods salesman is a
Have you ever wanted something so badly that you would do anything to get it? That feeling does not happen overnight; a sales process created that yearning inside you. In their book, “Rainmaking Conversations,” Mike Schultz and John Doerr list 16 ways to make your customers reach that level of desire. Over the next 4
4 Principles to Influence a Sale (Attention, Curiosity, Desire, & Envy) Read More »
Highly educated people like to associate with other highly educated people. Physically fit people like to associate with other fit people. People with a deep-seated belief in a particular faith associate with others of the same faith. It is human nature to be attracted to like-minded people. Like attracts like. However, the savvy entrepreneur with
Like Attracts Like, But Should It? Read More »
Nothing is more dangerous than an idea when it is the only one you have. When confronted with a problem, most people think, “What is the answer?” as if there is only one right answer. As the saying goes, “There is more than one way to skin a cat.” Creative minds look for more than
What Is the Answer? Read More »
If you are at the amusement park, preparing to get on a ride, and the operator says, “It will bring the kid in you out,” a set of expectations has been created. However, if an obstetrician says the same thing to a woman in labor, it means a completely different thing. Life is full of
Change Your Context Read More »
Jonathan Labed was 14 years old when he realized that there was a hazy line between perception and reality on the internet. It was 1999 and he was watching CNBC. He suddenly realized how after an analyst touted a particular company’s stock, the stock price would rise. Seemed simple enough so Jonathan, an internet savvy
The Raw Power of the Internet Makes Everyone Equal Read More »
Many of us have heard about the Mozart Effect that says that listening to Mozart improves your mathematical ability. Some say it is the rhythm of classical music at 60-70 beats per minute that stirs some primitive reaches of your brain to help you to make more sense of numbers. In reality, studies have shown
Can Music Make You Smarter? Read More »
The next and final environmental forces block is “Macroeconomic Forces.” This section is used to determine if your business model can adjust to macroeconomic shifts. This is where keeping up with current events is important. In addition to watching the world and local news programs each day, I use an internet news aggregator that searches
Macroeconomic Forces and the Business Model Canvas Read More »
The next environmental forces block is “Industry Forces” and this section is used to determine if your business model will have a competitive edge today and tomorrow. To understand industrial forces, you need to assess who your competitors are. A tool called Data Axle Formerly called Reference USA (available at many libraries) is a valuable
Industry Forces and the Business Model Canvas Read More »
The next environmental forces block is related to key trends. The “Key Trends” block is used to evaluate if your Business Model Canvas takes advantage of emerging market trends. Are there any new technologies on the horizon that may undercut your business model? Don’t just look at the advances in your industry that may affect
Key Trends and the Business Model Canvas Read More »
The first environmental forces block is related to the market forces of the customer segments in your Business Model Canvas. The purpose of the “Market Forces” block is to verify that your model is in line with the evolving needs of your chosen customer segment. When you are looking at market forces, you should start
Market Forces and the Business Model Canvas Read More »
When you have completed the 9 blocks of the Business Model Canvas, you may have a well thought out business model. However, will it stand up in the real world? In the real world, your business will compete for market share and fight for survival every day. For the most part, the 9 blocks that
Four Environmental Forces Affecting Your Business Model Canvas Design Read More »
With many baby boomer entrepreneurs in their 60s, many are contemplating their exit strategy. While many will consider selling their business or passing it on to their children, there is another way. While this strategy does not receive much attention, it represents a viable way to pass along the business and cash out at the
Exit Strategy for Successful Employer Based Companies Read More »
Facial recognition is something hardwired into everybody and has been honed through millions of years of human evolution as a way to survive. Prehistoric man had to pick out a face of predators from the background or detect if his prey was looking at him while hunting if he was going to survive. The ability
Detecting Facial Clues for Better Sales Read More »
Entrepreneurs by their nature are risk takers. With increased risk comes greater reward potential. However, society, in general, is moving towards less risk and less reward. As a society, we are willing to trade security in the form of Social Security in our old age and Affordable Health Care in exchange for the freedom to
Why We Need an Entrepreneurial Mindset Read More »
Networking events for me are not about selling, but about listening and gathering intelligence. Networking is about making a great first impression, meaning you have to stand out and be memorable. You will be viewed as a great conversationalist at networking events if you resist the urge to sell and get the other person to
How to Make a Good Impression at Network Events Read More »
The federal government killed the Industrial Revolution by squelching successful entrepreneurs such as JP Morgan, JD Rockefeller and Andrew Carnegie and spinning a story for its own political gain
How to Stop the American Industrial Revolution Read More »
JP Morgan Was an International Financier and A Titan of Industry Whose History Contains Many Valuable Lessons for Small Business Owners.
More Lessons from the International Financier JP Morgan Read More »
This is part 2 in the series on Andrew Carnegie. For the full text see Valuable Business Lessons from the Steel Baron Andrew Carnegie Knowing that steel would revolutionize the construction industry, Carnegie went to his mentor Thomas Scott to help him raise the capital needed to build his own steel plant. His steel plant
More Lessons from the Steel Baron Andrew Carnegie Read More »
JD Rockefeller Was an Oil Magnate and A Titan of Industry Whose History Contains Many Valuable Lessons for Small Business Owners.
More Lessons from the Oil Magnate JD Rockefeller Read More »
This is part 2 in the series on Cornelius Vanderbilt. For the full text see Valuable Business Lessons From The Shipping Tycoon Cornelius Vanderbilt With the emerging Industrial Revolution, Vanderbilt saw that the railroad business was the future and would soon replace much of the ferry business. He began a campaign to take over the
More Lessons from the Railroad Titan Cornelius Vanderbilt Read More »
Many clients I speak to are looking for a home run or flagship clients. Their logic is since it takes the effort to sign up a new customer, why not sign up a few large customers vs. many small customers? However, this is a misguided goal of building a healthy business. Ideally, you would like
Too Much of a Good Thing Read More »
When a business advances from stage 3 to stage 4, the business transformation is nearly complete. During stage 4, company decay can often begin to set in as the administration of the business is placed in the hands of a “guardian.” The primary motives of the business guardian are comfort and security. Unity towards a purpose
Stage 4: The Guardians of Business Read More »
For a business to advance from stage 2 to stage 3, the business undergoes a substantial shift from being on the offensive and growth-oriented to becoming more defensive and focused on process improvement through business segmentation. The business segmentation associated with stage 3 sets up the business for shared leadership and management by creating multiple
Stage 3: The Athletes and Performers of Business Read More »
For a business to advance from stage 1 to stage 2, the business requires that the role of the Oracle be supported or replaced by a business development person. I refer to this new leader as the “General.” In our McDonald’s example from a previous post, it was a guy by the name of Ray
Stage 2: The Generals of Business Read More »
Stage 1 encompasses the pre-start-up and early start-up period of a business. A company is started by a founder who is essentially the idea person behind the business. I refer to this person as the “oracle. In classical antiquity, an Oracle is a person who can see and predict the future. The Oracle of a
Stage 1: The Oracles of Business Read More »
As the federal government grows, it creates incredible drag in the economy. Federal agencies were initially enacted to protect the consumer from bad actors but has expanded its reach to protect the consumer from the consumer. Each time some undesirable event occurs, it creates an imperative to create yet another federal agency. Once created, these
Federal Government Overreach Read More »
There is a lot of information about the personal side of making a good first impression, such as how to dress, a firm handshake, and so on. However, too few people focus on what makes the encounter both memorable and shareable with others. Great stories use mental imagery and associations such as similes, metaphors, and analogies as well as emotional appeals to make them memorable.
How to Use Stories to Create a Great First Impression Read More »
Climate change has been blamed on our overuse of fossil fuels and pegged as the leading cause of the inevitable doom of our species. However, climate change in the form of ice ages and droughts has occurred many times during the period of mankind. Climate change has even led to some of our most important
Climate Change Spurs Innovation Read More »
The other day I went to visit my 4-year-old grandson in Arkansas. Stopping at a toy store, I noticed a brand I was very familiar with from my childhood: Tonka. When I was growing up, Tonka trucks were the gold standard of toy trucks and were made entirely of steel except for the wheels. They
One of the most confusing issues facing many newbie business people is related to the confusion and frustration related to taxes, vocabulary, and acronyms.
Business Confusion About Taxes, Vocabulary, and Acronyms Read More »
People leave the lights and T.V. on in hotel rooms all the time. There are no economic consequences for leaving them on like there are in your house so why not? Hotels sometimes leave messages on a card in the bathroom or on the nightstand to appeal to a person’s desire to be more environmentally
What is Choice Architecture Read More »
The Federal Debt as of Jan 2021 is nearing $28 trillion with another $1,9 trillion stimulus bill being considered. When I wrote this post initially in 2015 the federal debt was about to cross $18 trillion. What does a nearly $30 trillion debt have to do with me? It is not my debt. Someone else
A Strategy to Lower Income Taxes Read More »
The year was 1990. Microsoft just released its first successful version of the Windows Operating System. The TCP/IP protocol went global and the internet was now within reach of users with a personal computer in their home. Prodigy just went public and launched a marketing campaign with a war-chest worth nearly a billion dollars and
A Better Path to the Customer Read More »
Do you constantly search for techniques, tricks, and gimmicks to sell your product or service to your customers? If you are looking for techniques, tricks, and gimmicks, it will most likely not help because people hate to be sold something. However, they do love to buy. While it may seem like simple wordsmithing, the conceptual
The Secret to Better Sales Read More »
The other day I was in the hospital with my mother who had a pacemaker implanted. A very nice elderly woman came into the room and explained that she was a volunteer with the hospital. She wanted to offer my mom a small gift of a butterfly attached to a card with a simple saying.
The Gift of Cooperation Read More »
As I write this post, it’s about 7:00pm and I’m sitting on my back deck with a cocktail in hand, looking across a meadow punctuated with scrub oak clusters. I can see seven pronghorn lazily grazing. It is not mating season, but a large buck is not very happy with the presence of a small
Pronghorn Dogfight – Lessons for Small Business Read More »
The other day I had a client look at buying someone’s business. The seller was very anxious to close the deal quickly which was the first indication that there might be a problem. Looking at the finances for the prior three years, revenue and profits were definitely moving in the right direction and the buyer
Value of Due Diligence Read More »
Many successful entrepreneurs know that being successful is not about academic education. Instead, they know that being successful is about focus and persistence. Many successful entrepreneurs are high school and college dropouts. They quit school because they didn’t see the purpose of what they were learning. Many school curriculums are too narrow or too broad
Is Academic Education Overrated? Read More »
The other day I was asked if a person’s idea would make a good business. Unfortunately, I had to tell them that it would not be a good idea for them to pursue. While the idea might have been a novel and been a successful venture in the right hands, they didn’t have access to
Your Best Chance to Succeed in Small Business Read More »
We all know that schools exist to teach our kids. However, what they teach may not be what you think. The first schools in America were created in New England and primarily taught religion. However, while schools have evolved to teach reading, writing, math, and science, they still teach values to our children. Classrooms have
Public Schools Are Broken Read More »
I have a year and a half-year-old pedigree German Shepherd. He is a pretty good looking male with a great temperament towards people and other dogs. This temperament is rare among many German Shepherds because they are often good with people, but less so with other dogs. A friend and colleague of mine also have
Using Your Peripheral Vision to Spot Opportunities Read More »
Customer relationships can be either; face-to-face (like buying a car), phone (like Zappos), automated system (like Dell), or self-service (like WalMart).
Customer Relationships and Your Business Model Read More »
When we refer to channels in the Business Model Canvas, we are speaking about marketing channels or distribution channels. Here are 5 you should address: 1, Awareness 2, Evaluate 3, Purchase 4, Deliver 5, Customer Support
Channels and Your Business Model Read More »
The second step in creating your Business Model Canvas is to identify your value proposition. What is a value proposition? Simply put, a value proposition is a collection of products and services a business offers to meet the needs of its customers that helps to differentiate it from its competitors. For example, several manufacturers offer
Value Propositions and Your Business Model Read More »
“For whom are you creating value?” Sometimes that answer may be a bit complicated.
Customer Segment and Your Business Model Read More »
The Business Model Canvas is a strategic management and lean start-up template that a business can use when developing new or documenting existing business models. Basically, it is a visual representation that describes the nine critical elements of a firm’s product or service offerings.
The Business Model Canvas Series Read More »
Most people do not understand the nature of building wealth and share that misunderstanding with their children. The middle class teaches their kids to work for money and how to live within a budget. This linear and logical approach to money often seals their fate financially. By the time they reach high school, their belief
Wealth Is Largely the Result of Habit Read More »
It is human nature to avoid activities we do not like, even if they are necessary activities. We indulge in activities we like but know we are not nearly as productive. To overcome this tendency, sometimes we need to incorporate commitment devices to achieve our desired outcomes. While I know I have to make cold
Why You Need to Employ Commitment Devices Read More »
In thick markets, you have a lot of competition and limited differentiation while in thin markets you have limited or no completion based on product or service differentiation.
Thick Market vs. Thin Market – What You Need To Know Read More »
Since today is my 55th birthday I got to thinking about what I accomplished last year and what things I would like to put in place to accomplish in this coming year. I discovered that there are best times to start a new personal commitment to ensure higher success rates? Commitments that begin on dates
The Best Time to Start Something New Read More »
There are four questions that every product or service company needs to ask before it embarks on a new business or product line. 1. Do customers recognize they have a problem?2. If there was a solution to their problem, would they buy it?3. Would they buy it from us?4. Can we build it? When I
Four Questions Before You Start Something New Read More »
A fellow mentor who is an expert in retail once shared with me that opening a shoe store is one of the riskiest businesses to start and operate because there are so many bad assumptions you can make. In a typical main street brick-and-mortar shoe store, you have to select and stock the proper proportions
How to Learn Demand: Zappos Story Read More »
Leap of faith assumptions needs to be identified and tested early on so that the company can make better decisions instead of incurring significant expenses by going down the wrong path. Unfortunately, our government does not subscribe to testing assumptions before spending billions of dollars of taxpayer money. For example, take the main assumption that
The general narrative is that job satisfaction is tied directly to an employee’s earnings. In fact, many studies have shown that a person’s wage is not closely tied to a person’s job satisfaction levels at all. Growth, level of autonomousness, and connection to colleagues are considered to be the top three attributes of job satisfaction.
Money Does Not Equal Job Satisfaction Read More »
Did you know that studies show we are most creative in the first 2-3 hours in the morning? Most people think they need to respond to emails from customers and colleagues at the start of their day. However, by doing so they squander their most creative period of the day to a mundane task. My
Leverage Your Mind and Body Read More »
Sometimes managers get too comfortable with their jobs and build internal walls to control knowledge in the hopes of making them indispensable to the company. The result is the company begins to stagnate. To combat this thinking and spur innovation, Jorma Ollila, CEO of Nokia, implemented a job swap program. Nokia adopted an everyone-out-of-your-comfort-zone management
Never Get Too Comfortable Read More »
William Boeing never said “it can’t be done” Instead he believed that decisions should be based strictly on fact and not opinions
Business Lessons From William Boeing -Facts and Science Rule Read More »
Business Management Is Often Not Focused On The Right Elements Of Success. Sometimes You Have To Suspend Your Belief Systems To Reevaluate Your Business
Is Your Business Focused on the Right Things? Read More »
Want to Strike It Rich? History Shows That Chasing Gold—or the Next Big Startup—Rarely Pays Off. The Real Winners Weren’t the Prospectors, but the Main Street Businesses That Sold Them Tools, Food, and Shelter. Today, the Same Lesson Applies—While High-Risk Startups Get All the Attention, the Smart Money Is in Steady, Reliable Businesses That Support Them
Don’t Be a Gold Digger – Why You Need To Be Main St. Instead Read More »
New business owners often ask me how they can learn more about back-office functions and business costs. The answer I always give them is the same: trade associations. Trade associations exist to share best practices and industry-specific knowledge with their members. Because memberships in a trade association cost money, many startups defer joining them. In
Trade Associations Read More »
Many studies have been performed that look at the role peer pressure has on our decision making. People desperately want to fit in so much so that they often times will ignore their own opinion just to be part of the crowd. No one likes to be wrong, but it is far more acceptable to be wrong with a crowd than be wrong on your own.
How to Harness Peer Pressure for Effective Marketing Read More »
When I grew up in Massachusetts, I remember reading a story about Joe Kennedy. He would go up to owners of older drafty apartments in downtown Boston and make them a unique proposition. Many of the units were poorly insulated and cost a small fortune to heat in the winter. Joe would agree to insulate
Capturing Value in Nontraditional Ways Read More »
Fifty percent of Americans over 18 years of age drink coffee every day. That translates into 150 million daily coffee drinkers that consume 400 million cups per day. Not long ago, brewing a cup of coffee at home or at the office involved purchasing a coffee pot from one company and ground coffee from another
Keurig’s New Business and Economic Model Read More »
Many local ecosystems have initiatives and programs to foster innovation in their own community as a way to grow new technology or manufacturing companies. They do this in the hopes it will bring in new money as the primary employer grows to maturity. However, sometimes it is not the product that generates the revenue, but
New Product vs. New Economic Model Read More »
Primary & secondary employers are vital to local ecosystem, One brings new money in and the other keeps money local, However each is treated different,
Ecosystems: Primary vs. Secondary Employers – Why You Need to Know Read More »
Tandy Leather was a family owned business located in Texas. Dave Tandy was a partner in a leather heel and shoe repair business which was founded in 1919. Charles Tandy, the son of Dave, took over the business after World War II and changed the business’s focus to leather craft after seeing how leather crafts
4 Business Lessons from Charles Tandy – Not Enough White, Too Much Purple Read More »
Sometimes the best ideas come from just looking at another industry and applying their lessons to your business. For example, when Henry Ford visited a meat packing plant, he saw how a side of beef was placed on a trolley and as it traveled down a track, a line of butchers each performing a single
A Source of Innovation Read More »
Between a stimulus and our action is a period of time. Sometimes that time period is very small and an unthinking “reaction.” Other times it can be long and is a thoughtful “response.” A reaction lacks conscious intention while a response is more conscious and thoughtful. For example, if a bee stings your arm, the
Reaction vs. Response Read More »
When you think of obsession does the idea strike a negative chord in your mind? For many, being obsessed is something to be avoided. Not so with entrepreneurs, who view obsession as a game, they love to play. Personally, I’m always obsessed with something new. When I find something I enjoy I go all in
Obsession is Not a Dirty Word Read More »
My son just recently sold his house, which got me thinking about selling real estate and more specifically the role that having an open house plays in the sale. What do you think is the true purpose of an open house? If you said, “To sell my house,” then you might want to guess again.
Who Benefits Most From An Open House? Read More »
Our five primary senses all work together, so it is important in business sales and marketing to stimulate them all if at all possible. However, with respect to evoking memories, the often overlooked sense of smell is the most powerful sense. If a person is tested on the details of a movie they watched in
The Smell of Success Read More »
Are You Looking Into the Wrong End of the Telescope? That’s What It’s Like When You Focus More on Protecting Your Idea Than Sharing It. Innovation Thrives on Collaboration, Yet Too Many Inventors Get Stuck Getting Patents to Protect Their Ideas vs. Bringing Their Vision Into the World. A Great Idea Isn’t Valuable if No One Ever Sees It.
Don’t Flip the Telescope: Focus on Execution, Not Protection Read More »
Arthur Blank, one of the founders of Home Depot, wakes up every morning saying “Who will destroy me today if I don’t keep my eyes open.” Knowing that retailers can’t sit still or they’ll be eclipsed by the competition, Arthur Blank and Bernie Marcus started Home Depot after being laid off unexpectedly from Handy Dan
4 Business Lessons from Arthur Blank – Who Will Destroy Me Today? Read More »
Community leaders are always interested in creating a vibrant economy to provide prosperity for their citizens. Promoting entrepreneurship is often at the heart of any economic development initiative. However, entrepreneurship comes in many different flavors from technology start-ups to micro-enterprises. Moreover, small business enterprises run the gambit from high growth companies to more static main
Make Entrepreneurship Easier Read More »
Business people can learn a lot from human evolution. Of all the animals in the world, humans are by no means the strongest or even the fastest. We owe our survival to being the smartest. Our brains evolved to solve problems related to surviving in an ever-changing and often hostile outdoor environment, so as to
Evolution of the Brain Read More »
Most people think people become wealthy because they are lucky, had good fortune, or had some social advantage in life. They believe that everyone is their brother’s keeper and that the ones who are fortunate to have money should share it with the less fortunate. As I see it, we live in a free market
Think Like an Entrepreneur Read More »
Robert Woodruff turned a pharmacy elixir into one of America’s best-known consumer brands. Discover several business lessons from Coca-Cola.
Business Lessons from Robert Woodruff – Have a Coke and a Smile Read More »
Daisy Braxton was a single mom with five children when she lost her job. To make ends meet she worked several minimum wage jobs that didn’t offer healthcare. Soon, medical bills for her kids overwhelmed her, and she was forced to apply for welfare. Rather than begin a lifelong dependency on the government, she took
Welfare to Entrepreneur Read More »
The other day I was reading an article about a rise in STDs in teens. The source of the STD problem was rooted in the fact that teenagers were not buying the proper size of condoms. After all, who would want to go to a checkout counter with condoms – size small? Status and saving
Is Your Condom Too Big? Read More »
It was 10:00 pm on April 18th, 1775. Two riders left Boston, Massachusetts, to ride out to Lexington and Concord to alert the militia that the British troops were on their way to capture Samuel Adams and John Hancock. Who were these two midnight riders? My guess is you came up with Paul Revere as
Robert Kiyosaki said it best: “Most people are stuck between fear and greed, which makes them slaves to a job.” They live paycheck to paycheck and live in fear of losing their job and not being able to support their lifestyle. When they receive windfall income, such as a tax return or a raise, greed
How to Exit the Rat Race Read More »
Relative differences are rooted more firmly in our psychology then absolute differences. This is a way people respond irrationally that the savvy business person should understand and use to his advantage. Let’s look at an example. Since today is tax day, let’s say you are in the market to buy a copy of Turbotax. You
Relative Price Psychology Read More »
