The story of money is not a straight line

Apr.27, 2012 by

By Seth Godin | A must read – Camilo

 

Everyone tells themself a different story about money, but there’s no doubt at all that the story we tell ourselves changes our behavior.

Consider this curve of how people react in situations that cost money.

A musician is standing on a street corner playing real good for free. Most people walk on by (3). That same musician playing at a bar with a $5 cover gets a bit more attention. Put him into a concert hall at $40 and suddenly it’s an event.

Pay someone minimum wage or a low intern stipend (4) and they treat the work like a job. Don’t expect that worker to put in extra effort or conquer her fear–the message is that her effort was bought and paid for and wasn’t worth very much to the boss… and so she reciprocates in kind. The same sort of thing can happen in a class that’s easy to get into and that doesn’t cost much–a Learning Annex sort of thing. Easy to start, cheap to try–not much effort as a result.

It’s interesting to me to see what happens to people who pay a lot or get paid well (2,5). The kids at Harvard Law School, for example, or a third-year associate at a law firm. Here, we see all nighters, heroic, career-risking efforts and all sorts of personal investment. And yet as we extend the curve to situations where the rules of rational money are suspended, something happens–people get fearful again. Don’t look to Oprah or JK Rowling or the Donald to bet it all–the huge amount of money they could earn (or could pay) to play at the next level (1 & 6) isn’t enough to get them out of their comfort zone. Money ceases to be a motivator for everyone at some point.

Most interesting of all is the long black line at zero (3). The curve goes wild here, like dividing by zero. At zero, at the place where no money changes hands, we see volunteer labor and free exchange. In these situations, sometimes we see extraordinary effort, the stuff that wins Nobel prizes. Just about every great, brave or beautiful thing in our culture was created by someone who didn’t do it for money. We see the local volunteer putting in insane hours even though no one is watching. We hear the magical song or read the amazing poem that no one got paid to write. And sometimes, though, we see very little, just a trolling comment or a half-hearted bit of commentary. Remove money from the story and we’re in a whole new category. The most vivid way to think about this is the difference between a mutually-agreed upon romantic date and one in which money changes hands.

All worth thinking about when you consider how much to charge for a gig, what tuition ought to be, what motivates job creators or whether or not a form of art disappears when the business model for that art goes away.

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What is actually happening to You!

Mar.22, 2012 by

Great posting by Seth Godin. One of the key areas of success in my opinion is how much time you devote to what you do best and what you are good at. If you only spend little time doing something, how can you achieve something important? Here something that will make you think and I hope something that makes you change.

Clearing the decks

SwissMiss points to a great infographic about how professional photographers actually spend their time.

Part of the magic (and the risk) of the internet is that if you want to, you can use your access to tools, markets and media to go even further in the direction of the chart on the right. You can become your own booker, accountant, publicist and more. Hey, it’s free! You get to keep all the money!

Of course, it also means you don’t get to spend very much time at all doing what you set out to do in the first place, which is shoot pictures, or write music or coach or whatever it was.

The other thing you can do is find the guts and resources to move even more to the left. Hire other people (at huge expense) to do all those things you certainly could do on your own, so you can actually do the work you were born to do.

One thing to consider: finding and retaining a great salesperson is more difficult than you might think, since a great salesperson might very well contribute even more value than you do.

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Technology Today for Mortgage Brokers, Realtors, Real Estate Investors

Mar.21, 2012 by

Amazing technology available today.
Faster than Google Earth…

http://showmystreet.com/

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Peter Diamandis: Abundance is our future | Video on TED.com

Mar.14, 2012 by

TED Talks Onstage at TED2012, Peter Diamandis makes a case for optimism — that we’ll invent, innovate and create ways to solve the challenges that loom over us. “I’m not saying we don’t have our set of problems; we surely do. But ultimately, we knock them down.

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Books I have read that I recommend….

Mar.11, 2012 by

Recommended Books:

The Ultimate Sales Machine, Chet Holmes
The E-Myth, Michael Gerber
The 5 Love Languages, Dr. Chapman
Emotional Intelligence, Daniel Goleman
The 4 Agreements, Dr. Miguel Ruiz
Banker to the Poor, Muhammad Yunus
Creating a World Without Poverty, Muhammad Yunus
7 Habits of Effective People, Stephen Covey
Made to Stick, Chip and Dan Heath
The Fall of Advertising and the Rise of PR, Al and Laura Ries

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Life Lessons

Mar.02, 2012 by

Tip #1   You need to learn your life lessons

Tip #2   There is no mistakes, only lessons to learn

Tip #3   A lesson is repeated until it is learned

Tip #4   If you do not learn the easy lessons they become harder

Tip #5   Pain is the way the universe brings attention to you so you learn your lessons

Tip #6   You will know when you have learned your lessons when your actions change

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Banks Market Share of the Mortgage Market

Feb.25, 2012 by

Here The Bank’s share of the Mortgage Market in Canada

Rank Lender Mortgage Book Market Share 12 Mo Chg
1 RBC $186.3 billion 17.08% +32bps
2 TD Bank $157.0 billion 14.40% +87bps
3 CIBC $148.7 billion 13.64% -9bps
4 Scotiabank $145.7 billion 13.36% -15bps
5 Desjardins $81.3 billion 7.46% +5bps
6 BMO $71.2 billion 6.53% -38bps
7 First National $40.8 billion 3.74% +27bps
8 ING Direct $30.2 billion 2.77% +3bps
9 National Bank $29.3 billion 2.69% +22bps
10 HSBC $19.7 billion 1.81% -12bps

Source:  Canadian Mortgage Trends & McVay and Associates

Total Market is about $1.1 Trillion dollars.

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Watching the News vs Watching Inside You

Feb.14, 2012 by

I love always to reflect about tested principles.  What I mean is when you watch the News is all about the gossip of today, what tragedy has happened in the last 24 hours and it my humble view, it leaves you empty, fearful and has no real benefit to you.

On the other hand, I love tested principles, that last over time, like this one from the Dalai Lama:

 

To help us bring benefit to others through our words and actions, it is useful to cultivate an attitude of sympathetic joy in others’ achievements and good fortune. This attitude is a powerful antidote against envy, which is not only a source of unnecessary suffering on the individual level but also an obstacle to our ability to reach out and engage with others.

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The New and Old Reality of Marketing – Horizontal Marketing

Feb.09, 2012 by

Horizontal marketing isn’t a new idea

by Seth Godin

But it is the new reality for just about every organization.

Vertical marketing means the marketer (the one with money) is in charge. Vertical marketing starts at the top and involves running ads, sending out direct mail and pushing hype through the media. Your money, your plans, your control. It might not work, but generally the worst outcome is that you will be ignored and need to spend more money.

Horizonal marketing, on the other hand, means creating a remarkable product and story and setting it up to spread from person to person. It’s out of your control, because all the interactions are by passionate outsiders, not paid agents.

Most marketers instinctually want control. We reach for the budget and the ad and the press release and most of all, the powerful media middleman. We buy SuperBowl ads or shmooze the reporter.

Horizontal marketing, though, requires giving up control. We spend all of our time and money on a great story and a great service and a remarkable offering. The rest is up to the market itself. You can’t control this, and you can no longer ignore it either.

Go to: Horizontal Marketing

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