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young entrepreneurs

Angel Ribo – Seeking a Higher Purpose: Scaling into International Markets and Educating Young Entrepreneurs (AoL 135)

When scaling a business, there’s many options that an owner or CEO can take.

A lot of times, especially for brick and mortar companies, one of the first things that they’ll consider is growing their company internationally.

However, if they don’t consider the culture they’re moving into, their effort is certainly going to have issues.

This is where today’s guest, Angel Ribo, comes in to help.

Having helped well over a thousand CEO’s during his career, he works on helping companies find ways to benefit the countries that they’re considering moving into.

On top of this, he also has a foundation geared towards poverty stricken kids in Latin America called Wisdom for Kids.

As you’ll hear in the conversation, teaching kids how to be entrepreneurs with the resources around them is a great way to help dilute the effect of poverty around the world.

Join Harrison and I as we talk with Angel about helping others find a higher purpose!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • What circumstances allowed Angel to learn 5 languages and have as much international exposure as he has over his career? 9:46
  • What memories does Angel have of his travels that he believes have helped him become who he is today? 12:49
  • When did he realize that entrepreneurship was going to be a major part of his life? 14:20
  • Did he have any inspiration in becoming an entrepreneur? 15:34
  • How did he realize what his superpower was? 17:52
  • What’s the main issues that CEOs have when they’re scaling their business to an international level? 19:20
  • How does he prep companies to work with diversity when it comes to international scaling? 26:48
  • What are some challenges that immigrants have when it comes to expand their career or become an entrepreneur? 29:51
  • What’s Wisdom for Kids? How much of a challenge is it to train underprivileged youth to be entrepreneurial? 32:46
  • Why is important for these kids to use their local resources? 36:14
  • What’s Angel looking forward to the rest of this year and next? 40:40
  • In the last several years, what is something Angel has become good at saying no to? 43:17
  • What advice does he hear adults giving children that he’d call bs on? 44:24
  • What does he do when he becomes overwhelmed or unfocused? 44:53
  • Secret to achieving personal freedom? 45:08

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Angel on 12 Minute Conversations with Engel Jones

Why Kids in Need should become Entrepreneurs

How to End Poverty in Latin America FAST

What are your 3 Biggest Fears or Limiting Beliefs?


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherSoundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

quality content

Creating Effective Quality Content

When it comes to marketing today, there’s a certain idea all digital marketers have to follow. We have to add value before we get the sale.

What does that mean?

Well, for most, it means that we have to educate our potential clients or customers about what it is that we do or make.

In fact, it can take up to 6 to 8 touches before a prospect becomes a buyer.

Typically, those touches take the form of “content”.

Content can take the form of videos, audio, or even text – like this blog. And it’s usually in the form of an educational format.

In this post, we’re going to look at a few places that we can find ideas for good content in 2018 and beyond.

 

Natural Content vs SEO Driven Content

When we’re thinking about creating content that attracts potential customers, we might be tempted to do a number of things. Most of these fall into three types.

Natural Content Creation

The first type is one where the focus is mainly on what our own individual customers or clients want. As a creative entrepreneur, this is something that seems a bit more natural.

The goal of creating this content is usually to retain and educate the clients, audience, or customers you already have.

 

SEO Driven Content Creation

The second type of content is content that is created specifically for what Google (or other search engines) suggest people are searching for.

Knowing this information allows us to create content specifically based on these search terms or “keywords”.

The end goal of this type of content creation to bring in more people into your sphere of influence.

If you’re not familiar with the term SEO, it simply is the acronym for Search Engine Optimization. The idea behind it is that If a particular site has good SEO, the site will rank hire in Google’s search results.

The goal is to appear on the first page of results.

At one point, it was much simpler to understand what would rank a website higher than another in Google. So much so, that if you understood the fairly rudimentary rules, you could start your own solopreneur business or small agency offering it as a service.

In fact, I remember back in 2010, there were several people in my social circle that worked for a couple of startup SEO companies here in Indianapolis.

Today, while SEO still exists and is still useful, it’s getting harder and harder to predict how Google ranks websites. They’re constantly changing what variables make our sites rank higher.

Some of those variables even include traffic on the site, authority of the site, and how quickly the site loads for individuals browsing the site.

 

Hybrid Content Creation

Ideally, since the SEO world has become so hard to predict, the best thing we should do is create content that not only has keywords in it, but also is made to educate your currently existing audience.

The main way to do this is to simply to find out what your audience is asking about, find out what keywords in Google are related to those questions, and then build content based on the results you find.

Doing good SEO work on your site is not the scope of this particular post. However, I have two recommendations for you if you have a WordPress based site.

 

  1. Make sure you have the Yoast SEO Plugin. I personally recommend the premium version because it has some kick butt features (including multiple keywords) and you only have to pay for it once. 
  2. Secondly, when you’re searching for keywords, you can use a free tool within Google Adwords called the Keyword Finder. When you’re searching, there are two columns that everyone should consider. The average monthly volume, and the competition.


Ideally, you want an Average Monthly Volume of 1k – 10k (number of searches a month). If you try anything higher than that, there’s a much higher chance your site won’t be seen in the front of the results. If you use anything less than that, you might be targeting a smaller group of people.

Once you find a keyword that hits that 1k – 10k search sweet spot, then you’ll want to check it’s competition. Ideally, you want a keyword that has low competition. However, from time to time you might have to use a keyword that is marked as a medium. I rarely use those that have high competition.

Here’s a visual of what I’m talking about:

quality content

How to Find Your Audience’s Questions

If you choose to go the natural or hybrid route, you’re creating your content with your audience in mind.

If that’s the case, there are a few places where you can get topic ideas from your audience – directly and indirectly.

  1. Ask them! You can send out a survey to your followers (whether it’s through Messenger, email, or whatever you prefer).
  2. Check out what’s being asked and discussed in Facebook groups or other online forums that are related to your topic. If you think you can go into further detail than what’s covered in the post, go for it. 
  3. See what other thought leaders in your industry are talking about. What are your favorite blogs, podcasts, speakers, and/or authors discussing? They probably have already done the research to find a good topic to discuss. Feel free to add your voice to the conversation!

 

Action Steps

When we’re having to create content on a regular basis for our audiences, we might draw a blank when we’re looking. Once you have an idea of what kind of content type you’re going to be creating (whether it’s natural, SEO focused, or a hybrid of the two), then you just need a spark of inspiration. If anything, this gives you a good excuse to check in with leaders of your industry!

 

self empowerment

Going North! – A Practical Guide in Bettering Yourself through Self Empowerment with Dom Brightmon (AoL 133)

Anyone that has had a significant amount of success in their lives have probably done a fair amount of listening to those who have had more experience.

When you’re thinking about sports, for example, there’s no team that has been successful without having coaches and a front office who perform well at their jobs.

Likewise, in business and in the self-help world, it’s good practice to take advice from people who have been where you’re wanting to go.

Today’s guest, is all about enabling people to get out of their own way and be more successful. He does this through his podcast, on stage, and through his book “Going North!”.

His name is Dominique Brightmon and in today’s conversation we chat about the importance of mentorship and all he’s learned as a 20-something entrepreneurial educator.

Enjoy!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • How has Dom’s past in the church set him up for success today? 10:49
  • Who are some of his mentors who have contributed to where he’s at today? 13:28
  • What inspired Dom to write his first book? 17:12
  • What’s the super power he has obtained from working at a library? 19:00
  • How can someone avoid being lost in a strictly Positive Mental Attitude mindset? 20:57
  • What are some of the things that Dom has learned as he’s been building his podcast? 23:26
  • What does he have planned for his 100 session of the Going North Podcast? 26:49
  • Has Dom had any memorable moments that come to mind during his first year of podcasting? 29:57
  • What kind of takeaways has he heard from his audience? 32:45
  • What does he want to accomplish the rest of the year? 34:14
  • Which are Dom’s 3 favorite influential podcasts to listen to? 37:32
  • Is there a recent plot twist he’s seen in day to day life? 38:24
  • What is one gift that he likes giving others? 41:30
  • Is there something that he thinks all high school students should know? 41:55
  • What’s the secret to achieving personal freedom? 42:29

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Dom on Fox 45 Morning News

Dom’s Presentation of the 5 E’s of Leadership

Dan Ally on becoming a Millionaire in 3 Years

Jim Rohn Seminar on Personal Development


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherSoundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

best places to invest in real estate

Kevin Bupp – Investing in Mobile Home Parks: Are They the Best Places to Invest in Real Estate? (AoL 124)

In this session, we’re continuing on with our education about the real estate investing (REI) world. Again, REI is something that a lot of us online folks are familiar with. Mainly because one of the most recommended books about passive income was written by Robert Kiyosaki. It’s no mystery that he made most of his income through REI.

As we’ll be reminded in today’s conversation, you can get started at any level. Ideally, you’d be able to put your own money to work for you just like Robert suggests. However, if you don’t have the resources, you can find opportunities for people who do.

These are a couple of the ideas that today’s guest, Kevin Bupp talks about.

Kevin has seen it all. Starting nearly 20 years ago, he went from single family homes to owning all kinds of property.

Today he focuses on one type in particular – mobile home parks (Or better yet, manufactured housing communities).

Why? Listen in to find out!

SPECIFICALLY, YOU’LL FIND OUT MORE ABOUT:

  • How’d Kevin first get into real estate investing? 10:03
  • How did he get started with his first property? 13:39
  • Should people new to real estate investing focus on wholesaling or buying to produce recurring revenue from the property? 14:44
  • Why did Kevin start investing in mobile home parks? 17:23
  • Where can someone do research to learn more about doing REI with mobile home parks? 20:53
  • How does Kevin alleviate the problem of tenants not paying on time in his parks? 27:48
  • What would Kevin of today tell himself back in 2000 to invest in if he only had $5000 to $10000 initially? 33:14
  • If someone wants to bring opportunity to someone like Kevin, what kind of property should they be on the look out for? 35:16
  • How can someone find those opportunities for established real estate investors? 36:51
  • Could someone develop their own mobile home park? Why might it be a good or bad idea? 38:42
  • Is there any trend in tiny home parks starting up? 41:15
  • How important is it for Kevin to give back to his community? 42:34
  • What’s Kevin looking forward to in the future? 44:53
  • Who are the 3 most influential people in his life? 46:06
  • One gift he likes giving others? 46:56
  • What’s Kevin looking forward to in the future? 47:15
  • How can someone be a difference maker in their community? 48:24

Right click here and save-as to download this episode to your computer.

 

ITEMS and PEOPLE MENTIONED IN THIS EPISODE:

SHOW NOTE EXTRAS:

Kevin on BiggerPockets

Interview on the REI Foundation Podcast

Kevin on Rod Khleif’s Show

A Taste of 72 Hours to Key West


Thanks for Listening!

Thanks so much for joining us again this week. Have some feedback you’d like to share? Leave a note in the comment section below!

If you enjoyed this episode, please share it using the social media buttons you see at the top of the post.

Also, please leave an honest review for The AoL Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and we read each and every one of them.

If you have any questions feel free to email them over via the email mentioned in the show or by our contact form.

And finally, don’t forget to subscribe to the show on CastboxiTunesStitcherSoundcloud, and/or Google Play Music. It’s absolutely free to do so.

A huge thank-you to you guys for joining us!

Cheers!

entrepreneurial process

4 Phases of the Mission Driven Entrepreneurial Process

When I restarted my own entrepreneurial process 3 years ago, I used Fizzle to help me design a roadmap of what I wanted New Inceptions to be.

Since then, I’ve realized that I was trying to build something that I couldn’t by myself. So, last summer, I started really putting an emphasis on meeting the right kinds of people to help things go bigger faster.

That’s about the time that I started doing more things locally and getting started with Amplify and C317.

Well, fast forward to today, and I have to say, there’s a lot of things I’ve learned along the way. And one of those things is that when you’re talking about scaling a business where you’re making a huge impact, you’re talking about a business that has gone through several stages to get where they’re at.

In this post, I want to share what those phases are so you have an idea of where you’re at.

 

Definition of the Entrepreneurial Process

Traditional Process

So there’s several entrepreneurial processes out there. One is the model that a lot of people know from academia or other traditional sources. It looks a little like this:

I’m not saying that this isn’t correct, but it’s not very functional. It “might” be functional if you’re in the tech entrepreneur space. But in reality, most entrepreneurs don’t focus on these topics today – especially not “Developing a business plan”!

 

Fizzle’s Three Phases

When I was in Fizzle, they had their own entrepreneurial process. It looks like this:

This is a much more practical model. And when you listen to Corbett, Chase, and Steph on their podcast, it does make a lot of sense in why they made it this way.

However, as I’ve been going back into studying other entrepreneurs out there, there seems to be an alternative path to the one above (which, I think is a great plan otherwise I wouldn’t be a proponent of theirs!).

This 4 phase path is one I wanted to share with you guys

The New Inceptions Roadmap

So, New Inceptions – what does that mean? When I first came up with it, I had recently seen the movie Inception. In the movie, we see this world where dreams happen in dreams. And if you’ve heard the podcast or talked to me in person, you might have heard that I feel that my job in life is to pull people out of mental prisons. Whether or not they put themselves there OR they’ve allowed others to put them there, they’re stuck.

So my 4 phase process includes one phase in where the focus is simply getting “unstuck”. I believe that this is is the most foundational phase and I see a lot of entrepreneurs skipping right over it as well as the next one. They start in phase 3, eventually find that they don’t like the work they’re doing or they’re simply not happy, and then have to start something again.

Our goal here is to prevent that from happening to you!

So, just to lay them out – here are the four stages:

  • Phase 1 – Set the Foundation
  • Phase 2 – Personal Mission Development
  • Phase 3 – Product and Service Development with First Customers (Start Becoming the Expert!)
  • Phase 4 – Optimization and Growth

 

Let’s take a little more of a look at them:

 

The 4 Phases of the Mission Driven Entrepreneurial Process

entrepreneurial process

Phase 1: Set the Foundation

You guys know that I’m also a huge fan of Dane Maxwell and Andy Drish’s The Foundation.

When I heard about it back in 2012, it blew me away. Up until that point, I had only really heard of the first process I presented here.

One of the things that The Foundation does a great deal of work in is helping people with their limiting beliefs.

It’s these same limiting beliefs that keep people stuck in their mental prisons.

So in this phase, a new entrepreneur should be essentially taking dumb action. Just getting a feel for what’s out there. What sounds interesting to them? What do they feel like they gravitate towards?

Another thing we need to look at is how do we communicate with ourselves and the world around us. Are we real when need to be with ourselves and others? If not, why not? Do we lump all people into one group or are we aware of the different personalities that are out there?

Also in this phase, we need to focus on moving a external locus of control to one that is a bit more internal.

This is all important stuff that needs to be thought about before we can dive into the next phase.

 

Phase 2: Create Your Personal Mission

In this phase, we’ll be looking at crafting your own personal mission.

This is a vital phase that many entrepreneurs skip over. However, time and time again, I’ve heard those from the top say they would have gotten to the top faster had they taken the time to understand what their work actually meant.

In particular, in this phase we’re looking at discovering our Passions, Purpose, and preferred Process (the 3 P’s) and how that relates to our overall mission. We’ll also be looking at all the options you could put your unique skill set towards.

And we also want to make sure we’re starting to develop our network. But we have to make sure we’re doing it strategically. There’s some key people that we need to be meeting if we want to do extraordinary things. We have to seek those folks out who have been there before.

 

Phase 3: Product and Service Development with First Customers (Start Becoming the Expert!)

Now that we’ve developed a understanding of who we are and the skills that we can bring to the market, it’s time that we actually see if someone would be willing to pay for what we can help them with.

Here’s the thing, though. It’s not about what we THINK we can help them with. It’s about what we KNOW we can help them with. And the only way to find out what we can help them with is by actually ASKING them.

Once you know what they want – how are you going to bring it to them? Are you going to get external funding or are you going to do a presale (hint: if you’re smart, you’ll do a presale before you ever lift a finger creating a service, course, SaaS, or even a physical product).

There’s a lot of moving parts in this phase. However, if you do them in the right sequence, it can be super fun.

 

Phase 4: Optimization and Growth

Once you have your first handful of customers, you’ll need to start thinking about your systems. No business became an empire without having a set way of doing things. The more automated you can make things, the more you can leverage your time… and your TEAM’s time.

So, yes. This is the stage where we start thinking about hiring people to help.

Also, if you haven’t made a website yet, then you’ll want to do that in this phase. Because when you’re marketing to the masses (regardless of how you do it), you have to give them something to go to that’s not controlled by third parties.

 

Action Steps

So, this is a lot to throw at you. And really, it depends on where you’re at in your journey. I’ve known people who were in phase 4 and ended up having to go back to phase 2 to recreate their career. In fact, the last two books I read were all about that – people who were at the “top of the world” came crashing down only to build a less stressful and much more enjoyable life.

So where are you at in your journey? Let me know where you’re starting from and I’ll help you get to the next level.

industry trends

Keeping Up with Industry Trends – Should Businesses be Overly Concerned about Being Trendy?

Many of us struggle with finding content to write about. Especially if we’ve been writing or making content for awhile. As you’ve guys have seen this year, I’ve been writing in this blog since 2010. Since then, I’ve written quite a bit.

I have to admit, there’s times where I wonder if I’m going over the same stuff over and over. And if I am, is it worth it to you guys to go over something I’ve might have talked about not too long ago?

For those of us who are regularly creating content, it’s easy to do this because it’s what we know.

However, there are times where we might feel that we’re not keeping up with the times. That perhaps we’re missing something on this or that social media. Or that, perhaps, social media is where we should be to put our message out there.

Is that really the case? Let’s look at this a bit closer.

 

It’s All About Your List

When it comes to having a successful online business (or any business for that matter) is having a list of people who like what you’re about and could be a potential customer.

So, it’d make sense that the longer your list is, the more income you could possibly make when you release a new product.

This is true. And in fact, that’s the real power of Facebook and other social media platforms. Businesses of any size can “rent” parts of Facebook’s list (their users) by paying for ads. Or, as an alternative, if you don’t have a budget to spend on ads, you can spend more time by making a Facebook group.The more activity you have in your group, the more Facebook will share your group with its users. The more users you have in your group, the more you’ll be able to market to them.

But there’s a catch. You’re still using Facebook’s list.

And really, you need to own your own list. And still to this day, as I said in a recent interview, the best way of doing that is owning your own website and building a list of emails.

 

If You’re Not Trendy Can You Still Be Successful?

Now at this point, you might be thinking about that old saying “What brought you here, won’t get you to there.” Meaning, can my bread and butter – whatever you’re good at – can it take you to the next level?

The short answer is that it can – but not the way you’re currently doing it. What you’re offering people or however your servicing them, it should stay the same. If you want to scale, the way to do that is by changing your process.

However, don’t mistake this for new products or new services. Sure, you can get new customers by offering new things that are more trendy. BUT, that’s not what attracted your original customers.

What do your original customers want and are they still getting it? Ask yourself how can you service them better?

 

McDonald’s Attempt to Stay Trendy

Let’s take McDonald’s for example.

McDonald’s has a process that we’re familiar with. Every store has the same process. If you watched the movie “The Founder”, you’ll know that what Ray Kroc did to make McDonald’s better wasn’t by just toying around with the menu, it was by how he was able to scale the company. He offered the same thing at every store and that brought them loyalty.

That model worked for decades – until people started realizing what they were eating and wanted to eat better.

Now, McDonald’s realized that people wanted healthier alternatives. So they started offering all kinds of different products to cater to the healthy consumer. Their menu got larger and larger until in 2013 or so, not only could you order your regular burger, but you could order a fairly large chicken wrap.

The problem is, though, that these healthier alternatives that McDonald’s was trying… they weren’t improving their revenue. In fact, I’m guessing they were losing money with this bloated menu. Because it wasn’t too long that they got a new CEO and the menu was scaled back to a more basic selection.

They decided to cater to WHO got them there in the first place.

And one of the biggest ways they did this was by expanding the times in which they offered breakfast food.

That said, here we are in 2018 and I’d pretty much say that McDonald’s menu is about the same as it was when I was growing up. That’s why they’re still in business – not because of all the healthy alternatives they were starting to offer.

 

Social Media is Designed to be Addictive

Something else I want to point out is that social media is designed to keep you interacting with it. When I was in Honduras in January, I didn’t have a reliable internet connection. So I had just enough time to get me off of Facebook. Sure, there was a couple of times a day where I connected, but for entertainment – I read. And in fact, I read a good book you’re probably all aware of by now (Meaningful Work).

Unfortunately, that hasn’t helped me be the best steward when it comes to the Junto Facebook group. I still think that people get more fulfillment out of working their personal mission – but at the same time, they need to be actually working on it. On one hand, I don’t want to be the reason they spend all their time on Facebook, on the other hand if I didn’t care about that, the group might be growing at a more steady rate.

So, right now to get back on the horse with the Junto, I’m going to schedule time for me to actually be present on there and post. Because really, I’ve just stopped using social media altogether recently. It’s a great feeling, but I need to make sure I’m connected and connecting still too. So yeah, be it a half an hour or an hour, I’ll create a little time in order to do stuff in the group and create buzz in other groups.

 

Action Steps

So trends. Sure, they can be useful in creating more customers. But if you’re already a successful entrepreneur, stay with what you know works. Identify who those raving fans are and figure out how you can serve them better.

Are trends something that you can ignore all together? Probably not. Carve out a day once a week or once a month where you can explore to see what’s popular out there – where you can experiment in growing your business. Not only will you see more opportunities this way, but you’ll also be helping yourself avoid burnout!

As usual, let me know what you think below. How do you utilize trends in your work?

supply vs demand

Supply Vs Demand: Equal Factors in Innovation?

Back when I was actually studying entrepreneurship in school… I studied a lot of theory based stuff. But hey, that’s what you do in school – study theory!

One of the things that really opened my eyes about how politics plays a role in the economy was learning about John Maynard Keynes and Friedrich August Hayek. They were two prominent economists of the Great Depression era with sharply contrasting views. The arguments they had in the 1930s are revived whenever we have a global financial crisis (or every 10 years).

Keynes suggests that more spending is the answer to reviving an economy, while Hayek believes that artificially pumping the gas on the economy yields worse busts. He believed that stimulus packages were nothing more interference in a naturally occuring rhythm. 

This year marks the 10 year anniversary of Stimulus Act of 2008. Recently, the Trump administration has been talking a bit about tariffs and trade wars. If any of it imposed, we might see some wild fluctuations in the stock market. So maybe it’s a good time to bring this subject up again?

On August 28th, 2011, I posted this piece about the Keynes and Hayek. If you look at the entrepreneurial space using both of their perspectives, then you can come out ahead regardless of what the government stimulates. Or, on a larger scale, you can see how companies like today’s Tesla create a market which other companies can support in the future. 


I have a chameleon personality by any definition of the phrase. Every source that hints to what my personality should be suggests that I have a gift in seeing the world in a balanced manner. Every personality test I’ve taken has jumped around with a result. When I took the Myers-Briggs test, one day I’d be an introvert – another day I’d test as an extrovert.

Heck, forget the sun sign of when I was born – the planets and moons were in alignment for me being a well balanced person too!

Missing out?

Funny enough, most people don’t have a chameleon personality. While mine is no means perfect (most of the time I’m too busy trying to please everyone!) most people are biased in one perspective or another and don’t consider the other side of the coin. The problem with this is that they’re probably missing opportunities.

Remember true intelligence can be defined by the ability to understand two conflicting points of view and make your own decision. So… QUESTION EVERYTHING!!

Case in point: I recently viewed a couple of videos regarding the current economy and two conflicting ways in how to solve it. Most people will see the problems in the economy from one perspective or another and thus the solution is as simple as doing what “is right” to one point of view.

Part 2:

 

Personally what I get from both of these videos and their perspectives is that demand (Keynes perspective) is just as important as innovation and providing the right supply (Hayek) to the economy. Without demand, income doesn’t exist. Without innovation and supply, then no one will buy anything because there’s nothing to buy. It’s a yin and yang sort of deal. Too much of one might give us results we don’t want. For examples, government subsidies have saved many farmers. However, because we’ve relied on it as much as we have, the soy and corn industries have a stranglehold on modern agriculture.

A More Practical Example

If you see both sides of the deal like what I’m talking about, you’ll realize that you can make your cake and eat it too.

One group of smart entrepreneurs are those that are marketing green technologies. Whether you believe Al Gore or not, there is a lot of interest in being green. Part of being green is producing Earth friendly fuels. So those that are building businesses in the green fuel sector are not only good for the environment, but they’re also smart in that they’re cashing in on a GREAT opportunity!!

Not only are they going the Keynes route by being supplemented by the government, but they’re also practicing a bit of the Hayek route in that cars with engines that can utilize the fuel will be created soon.


Action Steps

So now that you see these two perspectives, how can you use this knowledge in your own business? Is there a pool of money you can tap into before you start actual work? It doesn’t have to be government reliant. Maybe working with a nonprofit and doing their ads? (As an example, Google gives grants to nonprofits.)

Then, once that space is created, how might you be able to capitalize on it?