Tag Archive: study

A View that Leads to Bigg Success

watchBigg success is life on your own terms. Our focus today is growth, one of the five elements of bigg success.

We tend to avoid information that’s not consistent with our beliefs. There’s been a long-running debate between psychologists:

Do people actively avoid contradictory information or is it a more natural process? For example, it may be that we don’t hear opposing views because we hang out with people like us.

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Some new research [PDF] (led by a psychology professor at the best school in the world, the University of Illinois) has answered that question.

If you seek opposing views, you’re in the minority

The research confirms that people do avoid ideas that disagree with their own. They did this study to “see … to what extent people are willing to seek out the truth versus just stay comfortable with what they know.”

The researchers found that two-thirds of us choose information that supports what we already think. However, the more interesting part of their research to us was this:

They found that two types of people are more likely to listen to alternative points-of-view:

People who are confident in their own beliefs

We were out with a friend right after we read this research. The timing was perfect. She’s very politically active – politics is one area the researchers cited that we’re particularly reluctant to consider the other side.

Our friend told us that she no longer subscribed to a certain magazine. She said that she found she always disagreed with their point-of-view. After further discussion, it was clear that she’s not confident in her opinions.

If she had confidence in her opinions, it wouldn’t bother her to read the other side. In fact, by reading the other side, she might gain confidence in her positions. Or she might change her mind, but be more confident in her new opinion.

The best way to confirm your opinion is to continually test it against all the information available. Talk with people who hold counter opinions. Read everything you can. Try to balance opinions on all sides of an issue before arriving at a conclusion.

Even then, continue testing that opinion with any new evidence you find, both pro and con. Then you’ll have confidence in your opinions.

People who have to defend their ideas in public

It’s interesting that the researchers cite the much-maligned politicians here. Politicians constantly have to defend their point-of-view.

They serve as an example to us. Don’t keep your opinions to yourself; defend them.

We should point out two things here:

  • You have to be careful discussing certain subjects with certain people.
  • We’ve talked about things here in very black-and-white terms. Obviously, many if not most issues are full of grey. That’s what makes for interesting discussion!

When you do discuss your ideas, you will hear other points-of-view that you can synthesize with your own. Your ideas will sharpen and grow. So will your confidence in what you believe.

That’s bigg success … as long as you agree with us!

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Thanks for reading our post today. Please join us next time when we’ll discuss what we can learn from cats about communication. Until then, here’s to your bigg success!

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Direct link to The Bigg Success Show audio file:
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A Costly Cost Cutting Measure

cutting_costs.jpgBigg Success is life on your own terms. Today, we’ll focus on one of the five elements of bigg success – money.

We’re all looking for more ways to save money. That’s understandable. However, we need to think about not just survival, but “surthrival.”

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icon for podpress  Hear Geoge & Mary-Lynn discuss today's topic on The Bigg Success Show! Click the purple player to listen while you read: Play Now | Play in Popup | Download

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Many business owners and managers, small and large, are cutting back on their advertising. This cost-cutting practice can be very costly in the long run.

Could not advertising cost you $1.5 million?

A McGraw-Hill study, about the recession in the early 1980s, found that companies that maintained or increased their advertising had sales 256% higher three years after the recession ended.

Think about that … two companies, each with a million dollars in sales go into a recession. The company that holds tight on its advertising, or perhaps even increases it, will do over $2.5 million within a few years after the recession ends if the second company, the one that cut its advertising, treads water.

Signaling the end of your business

A recent study by Ad-ology found that 56% of the people surveyed thought that retail stores that cut back on advertising must be struggling.

In other words, your advertising sends a “signal” to both your existing and potential customers. Just like a company cutting back on its dividend, you’re telling the public you don’t expect your future to be bright when you cut back on advertising.

The signal is so strong that 15% of the people surveyed thought it meant that the firm who cut back on its advertising wouldn’t be in business much longer.

The time – money trade-off

One of the other elements of bigg success is time. If you’re a regular here you’ve heard it before, but it bears repeating:

If you don’t have money, you have to spend time. It’s part of the price of bigg success.

So if you really feel the need to cut back on how much money you spend on advertising, it will pay to spend more time promoting your business.

That means networking

Depending on your business, you may primarily build relationships offline or online. However, you will probably be well-served to do both. Integration is one of the keys to success in business today.

If you have employees with down time, make good use of it. Tell them that you want to keep spreading the word so you all surthrive.

What you ask them to do will also depend upon your business. You may have them put out door knob hangers or give away free samples of your product. Perhaps they can make some phone calls or send e-mails to your list of customers.

Where to place your focus

We stated it subtly in that last sentence. We should emphasize it – focus on your existing customers to get the best return on your investment (of money and time).

Research has shown that it costs between five to eight times as much to get a new customer as it takes to keep an existing one. So, at the very least, make sure you’re communicating with your existing customers at least four to six 6 times a year.

Find out what their problems are. Find a solution – even if you can’t solve it directly, help them find the answer to build your relationship.

The most cost-effective way to grow your business

Building relationships with your best customers is the most cost-effective way to grow your business. When you can “wow” your customers, they will …

  • buy more
  • buy more often
  • tell others

Segment & tailor

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marylynnWhile we’re talking about your existing customers, can you segment them into smaller groups so you can tailor your communications more precisely?

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georgeI used to own a heating and cooling service company. We got our technicians to note the age of the furnace or air conditioner when they were in our customer’s home or business. Then we wrote a letter specifically to this group. We generated over $300 of sales for every letter we mailed!

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This highlights another point we alluded to earlier – get your staff involved. Help them understand how it not only makes their jobs more secure, it also means you continue to grow as a company so there will be more opportunities for everybody. That’s bigg success!

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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Thanks so much for reading our post today. Please join us next time when we discuss what the underlying meaning of “I don’t have enough time.” Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00411-060809.mp3

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(Image in today's post from hisks)

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