What The Mint Taught Me About Marketing

The Buck Stops Here: $1 Coins to Be Curtailed - WSJ.com:



'via Blog this'

Early this morning, I awoke to an e-mail from a friend, Ed. Ed wanted to know what I thought about the Mint stopping production of coin dollars. Of course, my friend was aware that as Superintendent of the United States Mint (Philadelphia), I was involved in the first production of the Susan B. Anthony coin dollar in 1979.

As I watched the coverage, I was transported back to the early discussion of smaller coin dollars in the late 70s.

I recalled going into my office many mornings and finding mail bags with drawings from elementary school children from across the country. Many teachers inspired their students to participate in government by sending their suggestions for who should appear on the front of the new coin. As always, the students were quite creative. Their suggestions ranged from historic individuals to pop culture icons, perhaps even their mother, father, teacher, themselves, or their new puppy. I recall that Elvis Presley was particularly popular. As there is essentially only one law limiting who can be on a coin...the person cannot be currently living...many of their suggestions were possible.

Of course the real decision required hearings in Washington where people appeared to present their opinions. There was a big battle about whether it should be the Statue of Liberty or Susan B Anthony. Then the battle shifted to what image of Susan B Anthony. Should it be her in her early life as in the case of most coins? Or should it be in her later life after the victories for which she is noted?

When the decision was made, we sighed as we came to the end of the debate. Then, the next morning, we awakened to remember that a coin has two sides...the debate was just half done.

Of course there were many decisions to be made before the official First Strike Ceremony in 1979. The next day after the first striking , the process of getting them to the Federal Reserve Banks began. Then  there was another "next day" involving getting the coins into local banks.That was followed by getting them into stores, followed by getting them into the hands of people. This was followed by the first person spending one thinking it was a quarter...followed by the first reporter warning people not to spend the coin dollar thinking it is a quarter.

That battle has raged for 32 years and the discussion is still the same. This leads to what the Mint taught me about marketing:

1. People make decisions on how they feel. The decision are about emotions. Then we select the facts that support our emotions.
2. Everyone has an opinion. For the most part, individual opinions don't matter. It is the collection of opinions that determines if there is a problem that needs to be solved.
3. The fact that there is a problem to be solved does not mean that everyone wants the same solution. Many people awaken in the morning wanting corn flakes. Some of them want Post Toasties and some of them want Kelloggs Corn Flakes.That is not duplication of effort or wasting resources. We call that free market.
4. Marketing is about finding a solution to a problem that enough people want and are willing to pay for, to make it profitable for the person providing the solution. We call that a niche.
5. Business is about serving the niche over and over. Success is in finding your niche.
6. Government has niches too. We call them special interest groups. Government has no way of making every niche or interest group happy by giving them what they want. Government tends to hold it's nose and select one solution that "fits all".
7. Aren't you glad that as an entrepreneur, all you have to do is find the right niche and serve the people in it well?
8. There is always a "next day" unless you fail.

Baby Boomer - You Don't Have to Learn Entrepreneurship Blindly Or Alone

A personal and educational introduction to Michael E. Gerber : ""

As an aspiring baby boomer entrepreneur, you want to convert your business idea into a reality. There is approximately an 80% failure rate of people trying to accomplish your same goal. Yet, renowned business adviser Michael E. Gerber says that no small business owner has to fail.

In this video, Gerber talks with small business coaches. He shares what coaches must understand to help small business owners bring the dream back to America...in fact to small business owners around the world. Here, you can get that advice straight from his mouth.

Gerber explains that small business owners fail for reasons other than what they think is the cause of that failure. As a baby boomer making a transition to an encore career, this is valuable information for you.

He begins with what it means to have a dream. He explains the process for converting your dream to reality and how to get clarity from the onset. If you want to understand what needs to be done...and then what needs to be done next, you want to watch this 29 minute video.

You will learn there is a road map to your journey. You will learn that there are people prepared to help you with the task of designing your baby boomer retirement business. You can increase your chances of success by looking for the people who can help you. You do not have to do it blindly or alone.

Shallie

Networking is about people not numbers

Recently I wrote a guest blog for Warren Cass, 'Networking is not a numbers game'. In a reply on Twitter, Roberta Ward summed it up quite neatly, "No, its a people game!".

In the article I wrote about how some people approach networking as a numbers game. Meeting as many different people as possible at different events. Or collecting the maximum number of connections or friends on social networking websites.

The people who really make networking work for them and their business build strong relationships with a smaller number of people. They don't need to go out and meet new people all the time. Their introductions to new people and opportunities come via this group.

Constantly meeting new people all the time leaves no time for relationship building. It's like starting from scratch every time or the Networking equivalent of Groundhog Day!

Good Networking!
Dave Clarke

 ps Visit the new home of the business networking blog for the latest posts

Aspiring Baby Boomer Entrepreneur - Are You Smarter Than An Old Walrus?

A number of my closest friends have received this video recently with the caption "My New Exercise Routine". And though my stomach could benefit from some sit ups, that is not what I am really talking about.

Much of what it takes to become a successful baby boomer entrepreneur involves behavior modification. You have to learn how to go from being an employee to being an owner. We often call that obtaining the entrepreneurial mindset. This is a new mental exercise routine.

Learning to make that change is a radical shift in your thinking and behavior. But if an old walrus can have his behavior shaped to accomplish new things, so can you.

Your task is to learn what behavior is required for success in the business of your choice. Then you must begin shaping that behavior a step at a time. That is the exact process the trainer used to teach an old Walrus to do sit ups. You can do it. You are smarter than an old walrus, aren't you?


Be sure to sign up for our mailing list in the upper right hand corner. I will share with you what you need to help you become a successful baby boomer entrepreneur.


Shallie

You Are Not Alone - Most U.S. workers want to be entrepreneurs - UPI.com

Most U.S. workers want to be entrepreneurs - UPI.com:

'via Blog this'

If you have a secret dream of quitting your job and becoming an entrepreneur, you are not alone. UPI reports that "Three-quarters of U.S. full-time and part-time employed adults say they want to leave their job and become an independent entrepreneur..."

Aspiring Baby Boomer Entrepreneurs seem to have an edge in the effort to have a balance in life. This balance is often described as having the ability to set one's hours, spend more time with friends and family, not have to deal with office politics and/or not have to endure a daily commute. You can take this advantage by retiring from your current job and starting a semi-retired life as a business owner. This is sometimes referred to as an "encore career".

For other aspiring baby boomer entrepreneurs, the solution may be in developing a part time business. In this case, you begin developing the business on the side until it can sustain your needs.

In either case, you must take action. You must take steps to make your version of the "American Dream" your American Reality. Smarter Small Business Blog is here to help you.