#thriveorsurvive.
No one goes to the Olympics for silver.
Thoughts? Concerns?
Questions? Think I’m wrong?
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Need ideas?
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Let’s chat.
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Tony@changeinadvance.com
@changeinadvance
http://www.changeinadvance.com
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Innovation is the new Procrastination.
Yup. You read that right. I had a busy day and I stumbled upon some true greatness.
In business as in life you have to make moves. You have to make decisions fast when necessary and be prudent always. Gutsy moves are useful as well- but innovation trumps almost anything.
-By innovating you create a wealth stream that you weren’t expecting as people weren’t doing what you are. And this also gives you an advantage as you get there first. Now you may not be first per say but your innovation will be. The man who invented the paper clip got one hundred thousand dollars ($100,000.00).
The man who improved upon it got five hundred thousand ($500,000.00). So as we can see from this true story the money and success can be found through innovation.
-By innovating you create a solution that wasn’t there. You create an answer that people are looking for. An answer that is needed. I saw an auto show and they needed a piece of body trim for some Eleanor Mustang remakes. They went nuts! This small oversight now needed molds to be fabricated, specs, die-cast metal molds and then approval and manufacturing time. One of the major players said why don’t we put a piece of sheet metal on that we can cut right now? And we can also make it optional so as to appeal to a broader market and raise more money in sales. Genius right?! He solved the problem, made more sales appeal, and made a marketing move possible all with a piece of metal! This guy didn’t look at the problem. He looked at the solution needed and innovated in real world time. Profits grew at a minimum of cost. Sales could increase easily now as well. At every point in his choice/idea there was innovation that solved problems and created wealth. Sounds ideal doesn’t it?
-One more example to paint the picture:
So my parents bought a new pool for the backyard and needed help getting the assembly completed. And as the male heir I rise to the occasion as I think all sons should ( ladies you can too, just speaking for my gender). In the final leg of assembly I notice a cove was created by pre-cut foam pieces to give the edge a shape. I was amazed by this, and here’s why:
– pool cover: pre-cut for clients is a seventy dollar add on ($70.00). Even at a thirty dollar ($30.00) cost per set there is still a forty dollar ($40.00) profit per set. This means that for every thousand (1000) sets ,they make more money than on pools by a small margin of cost. They can even outsource this task and reduce cost by ten percent and still win. Also they don’t have to sell more pools to increase profits. The added cove is desirable as well as cost efficient which will mean that for a majority of sales they increase profit margins every time. This is an example of pure innovation. It shows how we can not only survive but thrive as businessmen (Hint, hint- #thriveorsurvive). Remember this one cove set costs them pennies but makes seventy thousand dollars ($70,000.00) given the earlier example. So innovation doesn’t just save time or money. It makes you money when properly applied.
-Small ticket item making big profits.
Just to rehash- small ticket items are pure profit. When you convert a if to a yes you win and when you can add on even one dollar you are even better off.
-Labor can be subcontracted.
Yup, that’s right. You don’t have to lack infrastructure to subcontract. I’d its easier and lower cost than get it done asap. Time waits for no man so tap into your network and utilize resources.
“A hunch is creativity trying to tell you something.” Frank Capra
#thriveorsurvive.
Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Changeinadvance@gmail.com
@changeinadvance
Or simply reply to this article.
#thriveorsurvive
Innovation is the new Procrastination.
Yup. You read that right. I had a busy day and I stumbled upon some true greatness.
In business as in life you have to make moves. You have to make decisions fast when necessary and be prudent always. Gutsy moves are useful as well- but innovation trumps almost anything.
-By innovating you create a wealth stream that you weren’t expecting as people weren’t doing what you are. And this also gives you an advantage as you get there first. Now you may not be first per say but your innovation will be. The man who invented the paper clip got one hundred thousand dollars ($100,000.00).
The man who improved upon it got five hundred thousand ($500,000.00). So as we can see from this true story the money and success can be found through innovation.
-By innovating you create a solution that wasn’t there. You create an answer that people are looking for. An answer that is needed. I saw an auto show and they needed a piece of body trim for some Eleanor Mustang remakes. They went nuts! This small oversight now needed molds to be fabricated, specs, die-cast metal molds and then approval and manufacturing time. One of the major players said why don’t we put a piece of sheet metal on that we can cut right now? And we can also make it optional so as to appeal to a broader market and raise more money in sales. Genius right?! He solved the problem, made more sales appeal, and made a marketing move possible all with a piece of metal! This guy didn’t look at the problem. He looked at the solution needed and innovated in real world time. Profits grew at a minimum of cost. Sales could increase easily now as well. At every point in his choice/idea there was innovation that solved problems and created wealth. Sounds ideal doesn’t it?
-One more example to paint the picture:
So my parents bought a new pool for the backyard and needed help getting the assembly completed. And as the male heir I rise to the occasion as I think all sons should ( ladies you can too, just speaking for my gender). In the final leg of assembly I notice a cove was created by pre-cut foam pieces to give the edge a shape. I was amazed by this, and here’s why:
– pool cover: pre-cut for clients is a seventy dollar add on ($70.00). Even at a thirty dollar ($30.00) cost per set there is still a forty dollar ($40.00) profit per set. This means that for every thousand (1000) sets ,they make more money than on pools by a small margin of cost. They can even outsource this task and reduce cost by ten percent and still win. Also they don’t have to sell more pools to increase profits. The added cove is desirable as well as cost efficient which will mean that for a majority of sales they increase profit margins every time. This is an example of pure innovation. It shows how we can not only survive but thrive as businessmen (Hint, hint- #thriveorsurvive). Remember this one cove set costs them pennies but makes seventy thousand dollars ($70,000.00) given the earlier example. So innovation doesn’t just save time or money. It makes you money when properly applied.
-Small ticket item making big profits.
Just to rehash- small ticket items are pure profit. When you convert a if to a yes you win and when you can add on even one dollar you are even better off.
-Labor can be subcontracted.
Yup, that’s right. You don’t have to lack infrastructure to subcontract. I’d its easier and lower cost than get it done asap. Time waits for no man so tap into your network and utilize resources.
“A hunch is creativity trying to tell you something.” Frank Capra
#thriveorsurvive.
Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Changeinadvance@gmail.com
@changeinadvance
Or simply reply to this article.
Procrastinate it helps.
No seriously. Waste more time. Sounds nuts? Let’s examine that for a second.
Do you still pay bills and balance your check book at the dinner table? With paper pencil and the proverbial checkbook? Are you still using stamps? So every month you waste time, about two hours being the well trained quasi accountant. Its 2012 people. Most banks have free auto pay. This let’s you preset or arrange your bill payments as your income is received.
So you save time.
You same money on stamps.
You save money on overdraft fees and late payments.
Sounds like a win win because it is. Time is now returned to you and cash flow.
Going to the gym five times a week?
Working on that hard earned, super cut physique? Congrats. And you’re losing if you spend two to three hours daily doing so. Your body needs focused precise methodical steps. It doesn’t need long hours. After you pass a certain time threshold your body enters what I like to call the cortisol arena and you essentially help yourself create fat and or keep it. (More info on this? See wiki. You know you wiki). So to recap you work so hard to be Adonis you become the cow. Nice. Wouldn’t properly ordered and executed workouts that systematically build on your earlier efforts work better? Of course. So let’s leave the old school and hit books. You can do more in seventy minutes than you can in two hours. Breakout the stop watch and check the net. Or simply pay a trainer for five sessions. Learn the routine the right way because time is money.
Enjoying that history channel? CNN, you’re so informed. MMA. You’re the tough guy, I concede. Diy- nice! You’re building a Gazebo! And in the twenty hours you spend watching these shows could make you better. If you spent those twenty hours working at Kmart you could use those funds to make a dent in your school loans. Lowered debt and saved interest payments means you are debt free faster and breathing easy. Or maybe you take that meager check and apply it to the mortgage to be applied to the principal. Now you have dented your debt burden using the same strategy that is employed against you simply in reverse. One hundred dollars a month will take five to eight years off your mortgage. FACT. Ready for that retiremnet sooner now I bet.
So don’t watch the diy guy who built his business. Mind yours. That basement apartment idea he shows, cool. But in this economy it goes to the kids who are the recession victims as they will have student loans and low to no employment.
Don’t watch him build dream homes. Build your dream life. Cutting these simple steps out means you have upwards of forty hours a month to get your business off the ground. Work. And then build a future with no bosses. No meager forced ERISA 401ks. Build a dream that you own. That is your way. That feeds minds or whole towns.
Only step left is to commit.
Are you with me?
#thriveorsurvive
Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat.
Need a way to make money in your spare time?
I can help.
Changeinadvance@gmail.com
@changeinadvance
Or simply reply to this article.
Changeinadvance 