Greg's Right FIT #397

Quick notes to help you grow your business in less time with less effort. . . sometime next week. 

In this issue: 

- Thoughts on Ego
- Being Human
- Random Stuff

Thoughts on Ego

• There are times to lead with ego and one is when they begin with "why are you the best person for. . .?"
• Years ago, I created an alter ego, Mad Gringo, and he spouted off random bar-room advice from time to time. One useful bit: No one accidentally becomes a jerk. 
• A mentor told me today's solutions often come back as tomorrow's problems. Good advice. Manage today with the future in mind, don't feed your ego by giving fast answers to people's problems.
• A favorite book about ego is "Father Joe." Some great ego check passages like, "What you must ask yourself. . . is this: do you do the work you've chosen with joy and gratitude? Do you do it conscientiously? Do you do it for others first and yourself second?"

Being Human - Market ego

"I am suggesting there is a home for creatives in between poverty and stardom. Somewhere lower than stratospheric bestsellerdom, but higher than the obscurity of the long tail." – Kevin Kelly

A recent book recommendation is Kevin Kelly's "Excellent Advice for Living." His name sounded familiar, and it turns out he is credited with one of my favorite marketing ideas, 1,000 true fans. 

The idea changed a bit since I stumbled on it while trying to grow my ill-fated apparel brand, but its core point is with 1,000 true fans a creative can make a nice living. They may be solidly in the niche end of a "long tail" market, but if all the true fans buy everything the creator produces, it can be a satisfying living. In 2008 we were all just learning how the internet makes it possible to find 1,000 true fans.

The challenge with this idea in real life is the ego. As with many things, once 1,000 true fans are found, the market notices someone else has 2,500 true fans and wants that. Once it gets there it sees another brand with 5,000 true fans and thinks about how much easier life would be if its market was that size. 

Humans are wired to want more. It's unnatural to sit still and be satisfied. Probably because deep in our DNA the ancient plainsman inside us says, "Don't get eaten! Keep going!" It's no wonder we see markets the same way. 

There's no greater point to make other than recognizing that it happens. When I am asked to help with growth one of my first questions is why, even if the answer seems obvious, like in the case of a startup. It's a great thought exercise, but in the end, sometimes we just want more. 

Random Stuff

“If you must play, decide upon three things at the start:
the rules of the game, the stakes, and the quitting time."
– Chinese Proverb

Did you buy a lottery ticket when the prize reached $1.5BN? Some time ago I heard a debate about the ethics of lotteries and their benefit to society. I don't remember many of the details, but an economist pointed out that for many people, $1 has no real value, but a thousand stacks of a million dollars is life changing. Someone is going to win, even with impossible odds.

I thought about this as I read a headline about pro golfer Phil Mickelson gambling as much as $1BN over time. That seems extreme, but I figure he must win a lot. Or maybe he gets a real charge from the build up, and winning/losing don't matter so much. Hard for me to say because I've not been bitten by the gambling bug. 

In the early days of my wedded bliss we were cash strapped. One of my friends wanted to go to the casinos, but I didn't have any cash, so I politely declined. He has a bit of gambler in him and needed company, so he gave me $20 to come along. I put it in a slot machine and in the first few spins won something like $150. It was very exciting. I gave him his $20 back, then proceeded to lose most of my newfound wealth. When I was down to my last $40 or so, my friend and I grabbed steaks and beers. My treat. This was the early 1990s. $40 went a long way. I came with nothing, left with nothing. It was fun. 

When I returned to our tiny apartment and recounted the story of my adventure, my lovely bride just stood there, holding a fussing baby, staring, like she was confused. So I told the story again, a little louder, in greater detail. Adding more drama.

"You won $100, and spent it," she said, turning around and heading back to our only other room.

Message delivered, message received. 

So maybe I have been bitten by the gambling bug before, but I'm vaccinated. Or something like that.