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Take Advantage Of A Problem By Being The Solution

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If you’re like me, you use some of Google’s services and have no idea how half of them work. Adsense and broadcasted Google Hangouts are some of the services I have trouble with (I spent $15 to create a screen recorder for Google Hangouts so I can put those videos on YouTube). Chances are you are probably just like me or were just like me at one point. There are millions of people who have no idea how to use certain Google services or how certain features work. The worst part is that Google makes changes to many of its services every year. Someone who could host a Google Hangout in 2013 would have to relearn how to host a Google Hangout this year.

Let’s continue with my story of misfortune and hope that I am two for two. If you’re like me, you have watched videos or read articles on blogs to try to solve the problem. When seeing someone using the Google service that we cannot get to function, that person suddenly looks like one of those super humans chosen by the ancients or something cool like that.

While trying to find the fix for one of my Google services, I ended up reading 10 blog posts from the same blog dealing with this issue. I did not find the solution to the giant puzzle (trying to use a Google service that is not functioning properly). However, one blogger just got an extra visitor and 10 pageviews. Some people on YouTube got some extra views as well.

As these people get more visitors, pageviews, and views, their SEO increases, and they start to see traffic on the rise. What happened? These people knew the solution to a problem that millions of people have. Not all of these millions of people will get a solution from a single video, but as these people get more views for their videos about Google services, their other videos get viewed as well. In addition, their blogs also get more visitors and pageviews.

There are plenty of problems out there. If you are a solution to one of the problems that a large group of people have, numerous people will come to you to get the answer.

 

Mr. Wonderful’s Little Study For Getting A Deal On Shark Tank

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While browsing the web for a bit, I happened to stumble upon an article on Boston Magazine that had an interview with Kevin O’Leary. Most people know O’Leary as Mr. Wonderful, the guy who always sits in the middle seat on Shark Tank. During the interview, O’Leary was asked what would result in someone walking out of the tank with a deal. It turned out that O’Leary had been performing a little study about this. Here were his three findings:

  1. People who got the deal were able to articulate their opportunity in 90 seconds or less.
  2. People who got the deal were able to convince the sharks that they could execute.
  3. People who got the deal knew their numbers.

Whether we end up on Shark Tank (hard) or end up sitting in one of those five seats (much harder), we would be thinking about these three findings as a way to identify quality deals and make them happen. However, for those of us who do not get to go on Shark Tank, it is important to apply these three findings to our businesses.

With the rise of smartphones, multitasking has gone up. As multitasking goes up, attention spans go down. If you cannot convince someone in 90 seconds that you are important and that your product is good, you will lose that person’s attention. For many YouTube videos, most people stop watching after 10 seconds. The number of people who watch the entire YouTube video is minuscule compared to the number of people who actually viewed the video. This process works similar to a food chain where plants get the most energy (sunlight) and the animals on the top of the food chain get the least energy (because other animals got to use the energy from the plant first). In the beginning, everyone is eager to hear what you say. However, as you continue to talk, the energy level goes down. You need to “wow” the person you are talking to before their energy level hits zero.

After “wowing” someone, you have successfully talked the talk. Since the person’s energy level is higher, you want to keep that energy level high. In order to do that, you need to make sure that person sees you are a responsible person who walks the walk. Saying, “I will run 8 miles today,” and actually running the 8 miles are two different things. Metaphorically speaking, you want to be able to tell the person you are talking to that you will be able to run those 8 miles.

Now you have the person listening to you and absorbing everything that you say. The final part that seals the deal are your numbers. You could have a remarkable opportunity and be responsible, but it’s all fluff if you are getting 0 visitors on your blog, have no social media presence, and have a business going through financial decline. Not only do you need to have the numbers, but you need to have the numbers that click in the person’s mind. Since you gave a big boost to that person’s energy level, that person is able to show a greater appreciation towards your (good) numbers. The numbers offer tangible evidence in your ability to deliver what you say you will deliver.

Although getting on Shark Tank is very difficult, it is very easy to learn valuable lessons about business from the sharks themselves and while watching the show. What are your thoughts about Mr. Wonderful, his little study, and Shark Tank in general?

 

Yahoo! Could Have Been An Empire By Taking A Small Risk

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Yahoo! has spent a large sum of money on acquisitions. Yahoo! spent more than $100 million on many of the acquisitions. There were some acquisitions such as the acquisition of Tumblr in which Yahoo! spent over a billion dollars. Yahoo! even offered Mark Zuckerberg $1 billion back in 2006 to buy Facebook. Zuckerberg ended up saying no.

However, someone decided to offer his creation to Yahoo! in 1997 for $1 million. Although Yahoo! had spent hundreds of millions of dollars on other creations, this person decided that $1 million was a suitable price. Yahoo! did not acquire the creation for $1 million. Yahoo! rejected Larry Page’s creation…the one called Google. The funny thing is that Yahoo! acquired eGroups for half a billion dollars before getting the offer for Google. eGroups was created by Carl Page, Larry’s brother.

Yahoo! would have unquestionably dominated the web with Google by its side. Yahoo! would only have to compete against Bing for the leading search engine.

Too bad Yahoo! didn’t take the small risk. Now Google is worth well over $200 billion. To think that $1 million is all they would have needed to spend to own Google.

 

The Hardest Thing To Do

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Taking responsibility for a mistake. Sometimes, we do not know we made a mistake. At other times, it is obvious that we made a mistake. Eventually, we learn to admit that we made a mistake. However, admitting that we made a mistake is not the same as taking responsibility for that mistake.

Admitting that you did wrong is acknowledging that you are not perfect. This is the right step towards freeing yourself from the shackles of perfectionism. However, this is not the hardest thing to do.

John F. Kennedy admitted that he made a mistake. He also took responsibility for that mistake. The public loved him for the fact that he took responsibility for a big mistake he made. For the time he was alive, John F. Kennedy proved to be an effective and charismatic president. To this day, we remember him from his saying, “Ask not what your country can do for you. Ask what you can do for your country.”

It is a lot easier to point fingers and accuse others. Taking responsibility for something you did is the hardest thing to do. I am fully aware that there are other hard things to do such as going vegetarian–or the opposite: going from vegetarian to eating meat. However, the option to take responsibility commonly gets presented but rarely gets implemented.

The easier, safer, and ‘better’ option is to play the blame game or at least not take responsibility for a mistake. However, the people who take responsibility for their mistakes are the ones who win respect, and in John F. Kennedy’s case, taking responsibility for a big mistake won him nationwide respect.

 

Why Testimonials Are Important

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When first looking at the sales page, no one cares about the product. They only care about what people have said about products. After potential customers see numerous good reviews, then they start to buy in on the idea (and the product).

Testimonials act as proof that your product is elite. You don’t want people to guess about how good your product is. Amazon does not let people guess. All of their products can be reviewed based on a 1 to 5 star scale. The products with more 5 star are the products that get more sales. A lot of 5 star reviews reveals that the product is a must-have.

A description will not be enough to get people to buy your product. It is helpful, but in the end, the description is written by someone who wants you to buy their product. That’s where the testimonials come in. Real customers say what they like about the product, and that encourages potential customers to buy the product.

The products with the most sales are the ones with the most testimonials. Testimonials (also known as reviews on Amazon and many other places) tell people that what you have is extraordinary.

 

Quality Attention VS Attention

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There are two different kinds of attention. The first kind of attention is the one you get when people notice you. The second kind of attention is the one you get when people notice you and want to learn more about you. The first kind is just called attention while the second kind is called quality attention. If you are going to be noticed, you want to be noticed in a positive way.

Anyone can get attention. Getting quality attention is more challenging. In order to get quality attention, you need to be performing at a consistent basis and boosting your credibility. As you do these things, you will get more quality attention. People will read your About Me page, buy your products, subscribe to your blog, and follow you on every social network to have.

Quality attention creates quality buzz. Attention just creates buzz. If you want to be a leader in your niche, you need to have quality attention. There need to be people who buy your products and want to learn more about you. Anyone can get attention with some money and an ad space. Quality attention comes from being remarkable.