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Archives

May 26, 2008

Cashing in on Old Ideas... Using Predictable Behaviors to Get
What You Want... Stop Peeking Over the Fence... Calling in
Sick... and More.

 

** Cashing in on Old Ideas
By Adrian Newman, Founder of e-Wealth Daily

The other day, my wife and I decided to get a babysitter and have a night out. We had a nice dinner and then decided to go to the movies. We decided to see "Iron Man" because my wife is a big Robert Downey Jr. fan.

Of course, with any movie theater experience, you have to sit through the endless amounts of movie trailers. However, the one thing I noticed about the trailers is that they all featured old ideas that were being re-branded as the big summer action-blockbuster movies. "Iron Man" itself is a re-hashing of an old comic book. But the trailers included "Speed Racer," "The Chronicles of Narnia" and "Indiana Jones" all of which are old ideas making a comeback.


When I got home, I went online to check up on some of the other expected blockbuster titles for this summer, and this is what I found: "Sex and the City," "The Incredible Hulk," "Get Smart," "The Dark Night (Batman)," "The X-Files 2" and a number of other sequels or redo's.

Then I started thinking about the last few summers (the bread and butter season for Hollywood) and realized that, in terms of brand new, never-seen-or-thought-of-before ideas, the folks in Hollywood have been running a little thin. In fact, it looked like all the top moneymakers were either sequels or new renditions of old television shows, comic books or, in some cases, movies.

Obviously, this isn't because all the writers in Hollywood are lazy or running out of ideas -- they're responsible for a multi-billion-dollar industry. They recycle ideas because they know what sells. Heck, even when movies aren't sequels or remakes they still follow general plot guidelines and structure, making one action movie hard to distinguish from the next.

When you're trying to think of a new business or a way to add some growth to your existing business, start looking at what already exists around you as a source of inspiration. Sure, making your own personal additions or alterations is encouraged because it will be hard to market a carbon-copy successfully, but taking ideas and building on them is an age-old technique that is used by some of the biggest companies out there.

Look at the Big Mac, the Whopper and a Wendy's Hamburger...really not that different, are they? They're all hamburgers! The same thing can be said across a number of industries, where each competing company has their own version of the same thing. The key is finding what consumers like, and then offering your version of it.

Sometimes stimulating your business could be as simple as re- branding your existing product as something more current and useful. Doing this may soon prove you didn't need a new product at all, just a different spin on it!

 


** Using Predictable Behaviors to Get What You Want
By Doug D'Anna, the "Hundred-Million-Dollar Man"

If you watch closely, you'll begin to see how predictable people are, and you may just be able to use their responses to get what you want.

By testing human responses to marketing efforts, I know that people will do a swan dive to the words "free," "sale," and "50% off." It's become human nature to want to get things at a discount. But that's not the only thing that's built into predictable behavior.

There's also the cultural reactivity that you and every one else experiences as you pass through different stages of your maturity. By simply understanding a person's cultural idealism -- and the pictures they paint in their own minds -- you will be able to better understand and anticipate their reactions.

Along with cultural reactivity, however, comes moral reactivity. This is where your moral or religious education has formulated your belief system. Your morals gradually form as you mature. Over time, they strengthen, shift or maybe even break apart entirely. But they are one of the strongest cornerstones of your conviction.

Just think, wars are fought over moral boundaries, and human lives are laid on the line because of them. Suffice it to say, the ability to not only understand, but also accept someone else's moral stance can go a long way towards establishing a successful relationship with them.

Most people also experience emotion reactivity, which is an instinctive response to situations, one we are all born with. This might be what some people refer to as "a genetic predisposition," but it, too, matures with time and experience. Some people are just wired to be hot-headed, indolent, or over-emotional. Hopefully, with age, their responses become more appropriate, but sometimes they don't.

The key to getting what you want is to understand how a person will react in a given situation. You can start by identifying some of the predictable behaviors they may have in common with the rest of their community. However, it is important to remember that every person is different and that you are not limiting your conversation based on predicted behaviors they may not have.

 


** Stop Peeking Over the Fence
By John Hurd, Chief Wealth Researcher

Growing up, we received advice from people almost every single day. Our grade school teachers imparted advice about how to line up properly and how to act during a presentation. Our parents imparted advice on how to eat in front of guests and how to act like civilized beings in public.

Sure, many of us may have forgotten most of that advice, although hopefully we all still remember the rules of etiquette. While I continually get confused about which fork is for my salad, there are other pieces of advice that I'll never forget.

There is one piece of advice that I may never forget. It comes from my grandfather, who would listen to my seemingly endless stories anytime I would visit with him.

One day, I was particularly upset after a math test and began spilling the beans about how long I'd studied and how I thought I knew all I had to know. I then said that I at least expected to do better than one particular classmate I always competed against.

Well, my grandfather stopped my story right there and told me something I have never been able to forget.

He said, ''Now, I understand that you're upset that you didn't do as well as you had hoped. But, if you keep peeking over the fence at what the neighbors are doing, you'll never get any better at what you do.''

It took me some time to figure out what he meant by this, but once I did, I was forever thankful for this advice.

You see, while you may be struggling to reach your goals and achieve your dreams, it can be tempting to compare yourself to the successes or failures of other people constantly.

This constant comparison to other people is what he meant by ''peeking over the fence.'' He was a man who had his own goals and only compared his progress to where he was before and to where he wanted to be. He didn't let needless competition interfere with his path to his own goals.

While peeking over the fence may show you that your neighbor has a nicer car or a greener lawn, you won't be able to tell just how he has gotten those things. He could be knee-deep in debt, barely making ends meet, just to own these fancy material things.

While it may be difficult to resist the temptation to take a peek at how well other people are doing, I urge you to resist as much as you can. Your goals are a personal thing and you should keep your focus on them, and not on what someone else is doing.

 


** Calling in Sick
By Michael Newman, Self-made Millionaire

For the last week, I?ve been aboard a Mediterranean cruise, taking in the sights and making stops in a number of European countries. The south of France, Spain, Portugal, Italy and Greece were all beautiful destinations that I was able to observe, taking part in unique cultural experiences while leaving all my work and worries behind. However, all is not perfect. As I'm getting ready to embark on my journey home, I've fallen slightly ill.

Although my illness is nothing serious, it does make for some headaches and important decisions to be made. You see, I'm scheduled to arrive back at home on Wednesday morning, and am expected at a meeting on Friday afternoon. I can likely count on a bit of jetlag upon my return, which will likely kick this little bout of the flu I'm suffering up a notch.

Of course, I've attended meetings when I've felt a little under the weather before, but, in this case, I think I may have to reschedule my appointment. There are a couple of factors that I've taken into consideration while arriving at my decision to reschedule, and I'd like to share them with you. The reason I'd like to share them with you is because, oftentimes, we'll go ahead and work when we're not feeling particularly up to task. Sometimes we have to; there may be pressing deadlines, opportunities to capitalize on or we just want to make a good impression. However, there are other times when taking a step back from the job to recover may be the right choice.

The reasons I want to reschedule my meetings this time are quite simple: first off, I just don't feel like I'll be able to perform at the level I expect from myself. This will be due to the fact that I'm tired and my brain just won't be firing on all cylinders. Also, if I have to disrupt my rhythm every five minutes to blow my nose, I'll never be able to ride my train of thought in a continuous manner.

The next reason that I think it's a good idea to postpone is that if I come back and jump right into my work, I may risk being sick for longer, which will have further negative effects on what I will produce. If I take a couple of days to rest up and rebuild my health, I can give 100% when I recover. On the other hand, if I start putting in long, stressful hours, I will greatly impede my recovery and possibly turn a three-day bout of flu into a two-week battle.

Finally, if I go into a meeting as a coughing, sniffling and hacking mess, I risk getting my colleagues sick as well. They may take this as a lack of respect for their own well-being, rather than look at me as a trooper.

Sometimes, making the decision to stay home and rest for a couple of days when you're not feeling 100% is more beneficial than going into work. It gives you the chance to recover speedily and make your job easier in the long run.

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