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Aug 01 2013

How to Find an Extra $10,000

So we wrote another book!

How to Find an Extra 10000First, a little background for y’all. Earlier this year, we whipped up a site called “10KaYear,” with the goal of sharing money-saving and money-earning tips, big and small, that can help put an extra $10,000 in your pockets each year.

Well, thanks to gremlins, hackers, and whatnot, the site disappeared. But the content didn’t. So we decided to “bookify” it. (That’s a word.)

How to Find an Extra $10,000: A Stealth Guide to More Money, Better Health, and Living the Lifestyle You’ve Imagined

Okay, the title is a mouthful – but that’s what happens in this Google, Amazon, Keyword-friendly world we live in. And yes, we did just link to the book on Amazon.

We took our posts from10KaYear, refreshed some of the content, and broke it down into four categories:

  • Basics
  • Personal Finance
  • Saving & Investing
  • Unconventional Methods

It’s written in the snappy style you’ve come to expect from these “pages” on the Area 224 site, and it’s not just a little old e-book whipped up overnight – word count is in the five figures! Your investment is $7.00 (different price in places like the UK, Germany, and Brazil). I think it’s actually less in Canada.

We think you’ll enjoy it – and, if you’re an Amazon Prime member, you can borrow the book for free. Cool, eh?

Written by Dave · Categorized: Books · Tagged: $10, 000, 10KaYear, ten grand

Dec 06 2012

Sharpening Your Focus in the Final Month

NOW WHAT? It’s December…in addition to shopping and sending cards and all that…you have goals and you need to achieve them.

Mural in Brazil
2013: Art? Travel? Something else? What’s on the list?

Less than a few weeks left in 2012 and, no matter what your goals are, staying focused is of the utmost importance.

How can you do that – especially in the wild, crazy social media world we’re in? Good question – and here are a few ways to stay sharp.

1. Visit the Right Kinds of Sites

Yeah, it’s easy to get pulled into discussions about things like the Fiscal Cliff. And then you start looking at the news coverage and believing that things are heading to heck in a handbasket…making it tough to, as CNBC says, “Rise Above.”

No matter your goals – new clients, a new job, or just finishing the year on a positive note – it’s important to avoid the time suck that can be the wrong kinds of websites.

We love using a 10-minute rule on surfing. Set a timer, surf with specific reading in mind, then move on.

Sites we recommend for this sort of thing:

Danny Brown is one of our favorites, and he has launched something cool called “Help Me Be Inspired.”

If you are studying the Social Media and Digital space, check out V3IM and the inimitable Shelly Kramer.

Communications and PR professionals just starting out can learn from industry veterans like the team at SpinSucks or Culpwrit (where they have a great post on your Personal Brand).

There’s a theme to these: they’re all tremendously positive sites – they’re not starting fights, rather helping to lift everyone up through real-world advice.

 2. Don’t Be Afraid of Something New…

This isn’t about signing up for clients that will drive you crazy, or taking the job that you HAVE to take because, well, you HAVE to take it.

It IS about broadening your horizons just a bit.

Is there a project you can sign up for – even if that means you have to spend an extra hour a day learning Excel, or Photoshop?

Is there a side gig you should consider – because your downtime isn’t productive?

And, should you learn a new language – not because you have to, but because…you want to see if you can?

NOTE TO SELF: You have that Pimsleur Russian thing sitting over there. Fire it up.

3. 2013 Planning AND 2012 Finishing

Time to level-set, too. Some things won’t happen this year – but that doesn’t mean that they cannot happen next year.

Maybe the plan was to write a book – but there’s no way you can finish it now. That’s okay…just get it slotted in for 2013. BUT make sure you revisit the plan for this book-writing.

If the plan was to focus on money, you can visit sites like New Frugality and get tips.

Whatever you’ll miss the goal on for this year, do ask yourself if it’s important for next year. If it is, plan it.

 Stay positive and sharpen your focus for the balance of the year. You’ll be glad you did! 

 By the Way…

If you’re up to learning something new – and that something is Digital Marketing – take a look at this top-notch class from 312 Digital. Use the code “Area224” and you’ll save $100.

Written by Dave · Categorized: Books, Personal Brand, Perspective · Tagged: Focus

Jun 07 2012

I’m on a Break…from Marketing Books

Decide to embrace your inner polymath? That’s okay.

Business Model Generation
Not a Marketing Book

With summer rapidly upon us, maybe it’s time to start talking about books that AREN’T about marketing. Or social media.

I’m not saying you shouldn’t check out some of the higher profile marketing books out there – but, to be honest, they are starting to all blend together. Unless you’ve got some unique spin to add to the marketing campaign of the future, at some point it’s time to broaden your horizons.

So, Dave, What DO You Recommend?

Funny – if there’s one thing this site has been known for, it’s a healthy dose of counter-intuitive thinking. Zig when other zag. Things like that. Alas, some tips for your summer reading:

1. Rediscover the Magazine

In the early part of the 90s, I was a subscriber to The Economist. I let my subscription expire…then felt something missing and re-upped. But, to be direct, to understand the workings of modern business AND get a healthy dose of counter-intuitive thinking, there’s no magazine right now that does the trick better than…Bloomberg BusinessWeek.

When Bloomberg bought the property in 2010 and rescued it from the precipice of bankruptcy, they refreshed the design (it’s slick) and the editorial went up a couple notches, IMHO. The writing is rock solid. You’ll learn something new every week.

Oh, and even though I’m a “flip through the pages” kinda guy – the website is great and there’s an iPad version of the magazine.

A tip from a wise person I worked with ages ago: score inexpensive trial subscriptions to something you’re sorta interested in – this will broaden your horizons. So if you KINDA think you want to be a Surfer someday, there’s a magazine for that. (It’s called…Surfer.)

2. Anything Michael Lewis

Moneyball? It was a book before it was a movie. I have a copy sitting here, and I’ve re-read it a couple times.

I’m a baseball guy – sorta, not one of those “Sabermetricians” that Lewis talks about in the book, but a fan from way back when. But this isn’t a baseball book – it’s about thinking differently about how you approach business, decision making, and life. Really. Even if you don’t care to watch the movie, read the book.

Or Boomerang – that’s a great read, too, and will put the whole Euro Mess into perspective.

Lewis is really cool because, well, he’s a polymath. And he has a great writing style.

3. Ask People Who Run Businesses What THEY Read

This is one of my favorite tricks – and I’m not talking about asking bloggers to recommend other bloggers’ blogs.

Smart people have suggested books to me such as Business Model Generation (photo above, worth checking out, thank me later) and Aftershock (which will scare the crap out of you). Neither are marketing books.

4. Pick Up an Almanac or an Atlas

I dig reference books. But, in this “look it up on Wikipedia” world we live in, the need for an Almanac isn’t there. Or is it?

Ditto the Atlas – why would you look through an actual book when you can just go to Google Maps?

Well, think what you want about these beauts – they’re dinosaurs and people don’t need them – they can spark creativity.

Maybe I’ll return to marketing books one of these days, but my plan is to read lots of other stuff this summer. What about you?

Written by Dave · Categorized: Books · Tagged: business books, Business Model Generation, marketing books

May 29 2012

Social Media Real Estate

Does your Real Estate Agent use Social Media? Should you care?

Real Estate Yelp Sign
Image is modified based on original, Creative Commons work of ThinkPanama

An article in the Sunday Chicago Tribune made me want to throw up on my shoes.

Here’s a link to to the article, which was entitled “Home Tweet Home: Agents turn to social media“.

It’s not a bad article – IF you’re someone who is in the business of selling the real estate industry on having more agents and brokers using social media tools – and using their mobile phone, too.

But it’s not a great article – because the takeaway is all wrong. From the headline, you’re going to guess that you should be using Twitter if you’re a real estate agent who wants to sell more houses. NO. That shouldn’t be the takeaway…

So, we’re first going to talk about some of the things we disagree with if you’re using social media for real estate. THEN we’re going to give you a brand new takeaway. Here goes:

1. It’s Not All About the Numbers

Here’s a quote from the article:

“Gregg Slapak, a real estate broker with Exit Realty Redefined in Wheaton, has close to 5,000 Facebook friends — the maximum for the social networking site. On his recent birthday, more than 1,100 well-wishers from all over the world sent him greetings.”

Awesome. Gregg is popular and he’s so busy on his birthday that he can’t possibly respond to every well-wisher.

And does this make you want to buy a house from this guy?

Gregg goes on to say that “70 percent of his clients find him today using their computers.”

I’m not picking on Gregg here – have never met him, and maybe he is darn good at his job. But let’s continue…

2. The misnomer is that it’s a “tech-only” business

The article went on to say that the new generation of buyers want to text message with their real estate agent. They want instantaneous communication. They’re using social platforms first and foremost – a fact I won’t argue with. But here’s where the article’s premise – that you have to be “social” first – goes off the rails:

“Terri McAuley, a broker with Koenig & Strey Real Living in Chicago, estimates that 75 percent of her new clients have never met her in person.”

Maybe I’m missing something here – buy those shopping for a home haven’t met their broker in person?

I’m left with a very shallow opinion of both sides of this equation: the agent will take any business they can find without so much as a handshake – and the buyer would rather see that there’s a Facebook presence or that the broker can use a mobile phone to send a text message. ACK.

More:

3. Google and Yelp. Google and Yelp.

I can’t stress these two things enough – but they are afterthoughts in this article:

Remember our example above, Ms McAuley:

“…Instead, they rely on Yelp reviews or Google searches to find her.”

As well they should. As well they should.

I’m going to go out on a limb here and say that, if you are a real estate agent or broker, focus on Google and Yelp FIRST.

These should not be afterthoughts in your “social media strategy” – actually, they are the table stakes in your marketing – which is on- and off-line these days. You could spend hours learning how to do this right – and you SHOULD.

Because if someone finds you on Google or Yelp and reads up on you and decides that they don’t want to work with you because you DON’T HAVE 5000 FACEBOOK FRIENDS…you didn’t want to work with them anyway.

4. When Your Agent Has a Social Media Consulting Business – BEWARE!

This is a serious pet peeve of mine: the agent or broker should be working for you – and real estate should be their one and only profession.

You’ll find some dynamite speakers out there in real estate land – but the second someone crosses over from “agent” to “social media consultant” – you are no longer their focus. That sucks for you if you’re their client.

Real Estate Professionals: What Are You Leading With?

When we “wrote the book” on Social Media for Real Estate a couple years ago (and then rewrote the book again), we knew that a lot of this stuff would change. That’s why we focused on things like “knowing your target market” and “going where the buyers are.”

This doesn’t change; but the overarching theme of our work – then and now – is that you need to “be the kind of agent you would want to work with.”

Information is everywhere: and maybe you can find out more than enough about Gregg and Terri to decide that they’re the person you want to work with for your next real estate transaction.

AND, maybe it IS important to you to create a kicking Twitter presence and a dynamite list of Facebook friends.

AND…leading with the real you – Hey, Authenticity!!! – is never a bad thing to do. But here’s the thing, and here’s your takeaway from this article:

Location, Location, Location – Where is it?

This is the thing you should be leading with, real estate professional. We said it in the book, we’ll say it again, and here’s where you should build your online strategy:

Take a Look at Your Last 10 Transactions

There’s a theme there. Right?

If you found all ten people you sold homes to from Facebook, that’s great. Keep at it.

If all ten people found YOU through a Google search, maybe that’s where you should be spending your time.

Better yet – if all ten found you through a common thread, like a work or school group, or a club, or your referral network – isn’t that the thing to cultivate even more?

 

Written by Dave · Categorized: Books, ROI, SEO

May 17 2012

The Death of Logic

Three things, interwoven, suggesting that Logic has died.

As Alan Alda once said, the world is running “like a car with square wheels.” Allow us then to mash together three separate occurrences – as evidence in our case to declare Logic clinically dead. Here goes:

Exhibit A: Fired by State Farm

State Farm fired us: my household was told that our homeowner’s policy was not going to be renewed. It was, at the end, an “underwriting” decision – but it was handled in the worst possible way, and it is a cautionary tale for businesses that want to fashion themselves as a “Social Business.”

And this is the first thing that tells me Logic is Dead.

First: The Background

My own relationship with State Farm goes back to when I was covered on my parents’ Auto policy. Since I got my license at the age of 16, and I’m now…well, let’s just say we have recently crossed the quarter-century mark in our business relationship.

When I moved to Chicago, in 1993, I took my policy with me and found a local agent to insure my 1993 Nissan Sentra. Then, we switched agents – but stayed with State Farm – when my wife and I got married. In 1995.

The cold, calculating letter

“Dear Policyholder(s):

“Thank you for allowing State Farm to provide your insurance under this policy. We are sorry that we cannot continue this insurance. Therefore, your policy will not be renewed…

“This insurance coverage is no longer acceptable to State Farm Fire and Casualty Company because of your overall claim activity. Our records show the following loss(es):”

What follows? One claim paid out in 1998. Before we even had homeowner’s insurance. Five claims filed that weren’t paid out, but at total of $561.25 paid on this policy.

What does THIS have to do with dying Logic?

Logic would tell you that, if someone has a long history with a company, the lifetime customer value of that customer trumps one $561.25 claim filed 13 1/2 years ago.

Logic would also tell you that, if someone has paid an estimated $40,000 in lifetime premiums, you may not want them to take their business elsewhere. OR, if they are a risk, you want to keep them – but jack their rates up.

The cold calculation of an underwriter about number of claims filed could have been countered by one look at some sort of CRM data. 17 years with the same agent. Number of policies (2) with the company. Even profitability or lifetime customer value.

I would have respected their decision had they told me that, in light of all the above about my loyal patronage, I was not going to be a profitable long-term client. That did not factor into the decision.

The reality here is this: we are in a “check the box” world – that’s a given, and you’ll see another example in Exhibit B. But in order to really thrive in this Logic-Free world, businesses are going to need to start asking the right Binary Questions before they check the boxes.

The Binary Business
This is the cover logo for the book. Stay tuned.

[You’ll hear much more about Binary Questions in the weeks to come; as Dave from Area 224 is working on a book called “The Binary Business.”]

Here’s a for instance:

“Does this client’s long-term history make him or her a profitable client?”

OR

“Does the client’s total amount of claims paid equal a percentage of his premium that is above our acceptable risk threshold?”

These are both Binary Questions – you can answer either YES or NO. A 1 or a 0. Those are your choices. But the way the questions are phrased on the front-end makes for profitable business decisions on the back-end.

More, in Exhibit B.

Exhibit B: GM Pulls Its Facebook Advertising (Right Before Facebook’s IPO)

First of all, I want to be fair – and, quoting a somewhat wise person I used to work with, “Everyone’s an Armchair Marketer.” It’s easy to say that GM is making the wrong decision from wherever you are: maybe you don’t see them engaging on Facebook like other auto brands (hint: Ford). Maybe you think they should be spending their money making better cars (like Ford). Maybe you think Facebook advertising doesn’t work (which is in stark contrast to, uh, Ford).

But the higher your profile, the higher profile your decisions become: add in the ultra-high profile of Facebook right before its IPO, and you get a headline that writes itself:

General Motors Pulls Facebook Ads Right Before Facebook IPO

Lovely. If you’re GM, you have abandoned all logic and made a decision right when it would make the most negative news for you. (You also don’t score any “social business” points either.)

Binary Question:

Will making the about a $10 Million “savings” in ad spend be done at the most inopportune time that the damage to the brand will offset the savings?

I’m reminded of another little Binary Question that was actually quite big in the annals of the auto industry in the US…

Did you take bailout money?

If you don’t think THIS question is being asked time and time again by people looking for a car, think twice.

GM does deserve a little credit here – as they did say that the reason for their moving their ad spend off of Facebook is that “it isn’t helping them sell cars.” And we can surmise that this was a numbers-based decision of some sort.

Or was it?

Are there television ads? Radio ads? Newspaper ads? Are those selling cars?

Once again, the right binary questions – ones with yes or no answers – can make all the difference.

Do we need to maintain a presence on Facebook because those are the “table stakes” that will help us compete?

OR

Do we have something else up our sleeves that will be a more calculated marketing spend that will help us sell cars?

I want to think that GM is doing some of those SAT-style questions, like: “If Sally spends 10 million dollars in advertising but doesn’t measure the ROI of the advertising, how much is she wasting?”

Hang tight, here comes Exhibit C. Also from the automotive world.

Exhibit C: The Air Bag Light

We drive a Hyundai in Dave’s house. (Not IN Dave’s house, as that would be illogical.) We enjoy our Hyundai, but we don’t get warm fuzzies. It has been reliable, it’s a fine machine, etc., etc.

We took it in yesterday for a routine oil change AND to have them look at the “Air Bag” light. (Take a look over there.)

Hyundai Air Bag Light
Shouldn't be on...

It shouldn’t be on, and we want to know why it’s on. Leading us to the following exchange with the service person.

Service: “In order to find out whether the Air Bag light is covered under warranty, I’m going to need to charge you $120 to look at it.”

Me: “What?”

Service: “We need to know whether or not it’s covered, so we have to have an electrician look at it. The minimum service charge is $120. If it’s covered under warranty, you won’t have to pay the $120.”

Me: “No. Just the oil change.”

[Time passes. Oil Change complete. Time to pay for the oil change.]

Service: “The Air Bag light is probably covered under warranty. $120 is a standard charge. You can ask other service stations. I don’t want you to be upset.”

Me: “I’m not upset. I just want to know why I would be charged $120 to figure out whether or not it’s covered under warranty.”

I left upset.

Here’s the thing; and, again, this appears to be a rather binary question, or a series of binary questions:

Is the Air Bag light broken? (Yes or no.)

Is the Air Bag itself broken?

Is whatever is broken covered under warranty?

Even better – how bout offering to pull up my warranty information? You should have it right there. On your computer. Thanks.

Critical thinking. Snap judgments. Taking a step back and figuring out “if A, then B, A is bad, B is bad, let’s not do A.”

These are the types of logical decisions that aren’t happening at very rudimentary levels. And it’s symptomatic of a larger problem in business – in “Social Business” – that we’re all going to have to head off at the pass, lest we see some major trouble.

The Takeaway: Logic is Dead. And the “Social Business” might die, too.

In each case, logical thinking went by the wayside. In its place – old thinking. Formulae. “That’s not how we (used to) do it.”

In Timothy Ferriss’ brilliant “The 4-Hour Workweek,” he talks about a time he empowered his customer service team to take care of any problem that doesn’t cost him more than $200 to solve.

Where’s THAT thinking in these scenarios?

I’m not saying that you should put a dollar value on every big or little decision – what I am saying is that Mr. Ferriss’ focus on asking a very binary question – is this worth my time? – came about from first valuing his time and then thinking that his time had an actual dollar value, that dollar value was at least $200 an hour, and it made more sense to spend the money and use his time another way.

And the root cause here may be the Social Business Conundrum: How do you do what’s right, what makes sense, what’s logical, what you would want the other person to do (being “social” as in…the opposite of “anti-social”), when you have so many gosh darn polices and rules and crazy illogical thinking driving the organization you work for?

State Farm’s agent could have picked up the phone, called us, and tipped us off that corporate was trying to cancel our policy and they were going to fight it. They didn’t.

General Motors could have called Facebook Headquarters, said that they really want to work with them to maximize the money they spend on the platform, and they want to figure out how to do it better, faster, smarter. They didn’t.

Hyundai’s service guy could have said “hey, let’s see what your warranty does cover before we scare you away with mumbo jumbo about gambling your $120.” He didn’t.

Logic is Dead. Social Business: Dying with it.

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Written by Dave · Categorized: Binary Business, Books · Tagged: GM, hyundai, state farm

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