The Unpredictability Of Markets

Unpredictability of Markets

Thinking goes that if you’re the first in a market then you’re guaranteed success.

There’s no sense in opening a coffee shop two blocks from Starbucks or selling T-shirts from the back of your car when an average consumer passes 15 retail stores a day.

As I often like to say, if you think that, then you’ve thought wrong.

There are billions of markets. Small and large. There are neighborhood markets, city markets and, certainly, markets of one (you?). Markets are often unpredictable because if one has always purchased Starbucks, that doesn’t mean they will always purchase Starbucks. The story they want to hear (and tell themselves) tomorrow may be different from today.

They may be inspired by a friend to try something local for a change tomorrow and then you’ve got your shot. Now you have a consumer you never planned for, never thought you would have because you weren’t first in the market.

The stories and motivations people have change, and rapidly.

Likewise, the stories people tell one another are told at the fastest rate they’ve ever been told. Brand conversion is now often an invitation to brag about it, on social, to other friends, to coworkers. And suddenly, your market is looking bigger.

Until the story changes again. And it will.

 

Stay Positive & Will You Be Ready?

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Be Or Compete

Be Unreasonable

You can be irrational by picking up the phone on the first ring, showing up before anyone else, creating a product only a few are ready for, and using all your savings to pursue your dream.

Or… or you can compete with those who are.

 

Stay Positive & Which Will It Be?

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What’s Your Philosophy?

Business Philosophy

I toured a businesses establishment yesterday and listened to one of the founders tell the story of her and her husband’s business.

It went in this order: Date they pursued their dreams, how they got the funding, their philosophy for being in business and how they’re acting on that philosophy.

It was a short story. No longer than 5 minutes.

After, guests were going up to her complimenting her on the philosophy.

It made me wonder: How many loyalists did she just create?

It’s also worth noting that when she shared how she’s acting on the philosophy, she also shared how she has very little respect for other businesses that don’t hold a similar philosophy. She not only defined who the “insiders” were, but distinctly showcased who the “outsiders” were.

Have you?

 

Stay Positive & Own Your Philosophy

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Being Ready

Being Ready

One reason people reach success later than sooner is because they’re not ready when the opportunity strikes.

But, maybe it’s just that way of thinking.

People talk about luck and good timing like they are rare moments that we wait for.

I don’t believe either happen unprovoked.

You have to be taking some type of action to cause a response that works in your favor.

Sending an email asking about your potential for a promotion and receiving one back saying, “Let’s talk, I think we can make it happen” isn’t about good timing or fortune.

You’ve designed the opportunity since you had the idea of a promotion.

Being ready isn’t so much about getting the skills and then waiting for luck or coincidence; it’s about creating opportunities, putting yourself out there, and making remarkable moments happen.

We’ve been look at being ready wrong.

It’s no longer “Wait your turn.” It’s “Pick yourself.”

 

 

Stay Positive & Make Your Own Luck And Good Timing

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That Way

Asking Why

It doesn’t make much sense to continue doing what you’re doing without asking why you’re doing it that way.

For all you know (but are unaware of until now), you may be doing it that way because it was always done that way.

Red flag.

Or you may be doing it that way because you’re following the recipe given to you.

Red flag.

Or you may be doing it that way because you’re afraid of failure.

Red flag.

Each task you take upon yourself, can you sincerely answer why you’re doing it that way? Does answering the question make you care more? Does it make rational and emotional sense?

If it doesn’t…. Red flag.

 

Stay Positive & Go Ahead, Ask, Why Are You Doing It That Way?

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When Shit Hits The Fan

Self Worth

You can take responsibility without decreasing your self-worth.

You can take criticism without also taking it personally.

You can learn from the mistake and use that knowledge in the future.

 

Stay Positive & No One Is Forcing You To Feel Miserable

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