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Great Bigg Ideas are Born Bad

By Bigg Success Staff
10-01-08

Growth

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Cavas Gobhai has consulted with some of the world’s largest companies. He helps them implement bigg ideas. Over the years, he has noticed something about ideas that succeed bigg. Here’s a quote from The Wall Street Journal:

"Big ideas don't get built incrementally. You back into big good ideas from big bad ideas."

Most good ideas may look a bit odd at birth. They may sound crazy or outrageous at first. But these bigg bad ideas are the seed for break-through ideas that help you succeed bigg.

We became familiar with Gobhai’s work through the book, The Predators’ Ball, written by Connie Bruck. One of his most famous clients, Drexel Burnham, ultimately failed for reasons that aren’t relevant to our discussion. However, during the time Gobhai consulted with them, they went from being a no-name firm to become one of the most formidable investment houses on Wall Street. 

While Gobhai’s techniques are largely geared for companies, we can also use these ideas in our personal lives. Here are nine steps to find your great bigg ideas:

#1 – Schedule time

If you don’t plan time for creative thinking, the odds are that it won’t get done. Dedicate a block of time at least every quarter to creative thinking. In a short time, you’ll see what a valuable investment this is.

#2 – Create the right environment

Some people think most creatively in absolute silence. Others work best with some noise. Whatever works for you works! Just make sure you place yourself in an environment where you can be most productive as you seek bigg bad ideas.

#3 – Accept spontaneity

While it’s important to dedicate time, it’s also crucial to develop a system to record your bigg bad ideas as they occur – on your commute, in the shower. Make sure you archive your bigg bad idea, whenever or wherever it pops into your mind.

#4 – Focus on challenges and opportunities

What’s the biggest challenge you face right now? What’s the biggest opportunity you have right now? Your opportunity may come from your own challenge or somebody else’s. By concentrating your energy on your biggest issues, you’ll move ahead further and faster.

#5 – Suspend reality

When you find yourself coming up with all of the reasons why something won’t work, suspend reality for a bit. Picture yourself free from all constraints – time, money, and your own self-imposed limitations.

Think about why it could be done and how you would do it. Don’t reject any idea out of the gate; remember that your great bigg idea will come from a bigg bad idea. In fact, allow yourself to think of it the opposite way – the more outrageous the idea seems at first, the better!

#6 – Use images

This is another Gobhai technique. Use pictures, drawings, metaphors, animals or anything else you can think of to bring your ideas to life. By visualizing your idea, you come to a deeper level of understanding. You may realize that your image isn’t right; there’s a better analogy. Fantastic! You might be moving from the bigg bad idea to the great bigg one!

In The Predators’ Ball, Bruck discusses a Drexel session with Gobhai. One of the Drexel employees suggested that most of their competitors operated like a pride of lions. These companies had a definite pecking order among their employees. As the group discussed this, they realized their model should be a wolf pack, where everybody would feast together. 

#7 – Form a Master Mind Alliance

Here’s the bad news – you don’t have all of the world’s best ideas. The good news is that you can align yourself with others to discover more great bigg ideas.

Napoleon Hill, in his great book, Think & Grow Rich, defined “master mind” as:
“Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”

Find people who skills and goals are complementary with yours. Play off of your different strengths to discover ways you can mutually succeed bigg.

#8 – Review all your ideas

At regular intervals, but no less than once a week, sit down and review your inventory of bigg bad ideas. Upon further reflection, you’ll be able to categorize your bigg bad ideas in three ways:

  • truly just bad ideas that won’t go anywhere. You can ditch these.
  • bigg bad ideas that don’t solve your most immediate challenges and opportunities. You’ll want to archive these ideas for future use.
  • bigg bad ideas that you can implement now. You’ll develop these further and act upon them.

#9 – Reduce your idea to buzzwords

For that last category of ideas, reduce your great bigg idea to buzzwords – a word or phrase that you can easily call upon. These words should excite you to act now. You’ve turned a bigg bad idea into a great bigg idea!

Hear today’s lesson and laugh on The Bigg Success Show

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5 Steps to Make an Unhappy Customer Happy Again

love We’ve all heard the basic rules of customer service. But they deserve repeating before we discuss how to resolve a customer complaint.

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Rule #1: The customer is always right.

Rule #2: If the customer is ever wrong, reread Rule #1.

These two rules are sufficient most of the time. However, sometimes we must realize:

Rule #3: The customer may not always reasonable.

You must know your boundaries in dealing with an unreasonable customer. If you’re a leader, you must communicate these boundaries to your people so they are effective when customers complain.

5 steps to make an unhappy customer happy again

Step #1 – Let the customer vent.
Before you can attempt to resolve the situation, you must understand it. Find out exactly what is troubling your customer. 

Step #2 – Listen attentively.
While this is really part of Step #1, it is so important that it bears special emphasis. Pay attention to what your customer is and isn’t saying. What are his or her specific objections?

#3 – Restate the complaint or complaints.
Wait until he or she has completely “unloaded”. Then, repeat back to your customer the complaints he or she has registered.

You may say, “Please let me make sure I completely understand your concerns.”  Then restate the complaint.

Step #4 – Assure them.

This is not to say that you agree with him or her. It simply lets your customer know that you recognize how they feel.  There is a difference!    You may say things like:

* “I can understand why you might feel that way.”
* “I can see your point.”
* “I can appreciate that.”

#5 – Find out what they want.

Everything has led to this point.  Simply ask the customer this question: “What would you like me to do?”

If you have handled yourself correctly up to now, you will find they will usually ask for less than you would expect.  If so, give it to them! If not, offer them a reasonable option to resolve the issue. 

Let them decide how they can be happy again.  It will be rare when you can’t find a good solution that makes both of you happy.

Complaints are an opportunity

Good things can come from a customer complaint. You can learn how to improve your procedures.

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georgeI once owned a carpet cleaning business. I remember a customer complained because we didn’t get the furniture put back exactly where she had it. We had a chair misplaced by about an eighth of an inch. From that day on, we asked every customer to look at the room before we left to make sure we had everything in the right place. Our customers were thrilled at this simple change in process!

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Remember this, if a customer is unhappy, they’ll usually do one of two things:

Take their business elsewhere or complain. Which do you prefer?

Research shows that customers, who have had problems resolved to their satisfaction, produce three times the revenue of a customer without a problem. On top of that, they are much more likely to recommend you to their friends and family.

Sounds like a good reason to try to make unhappy customers happy again!
 

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Want more tips to help you be a BIGG success?
Subscribe to the Bigg Success Weekly – it’s FREE!

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Next time, we’ll discuss what you have to do BEFORE you hire an employee. Until then, here’s to your bigg success!

 

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3 Strategies Small Businesses Can Use to Gain an Advantage in Bad Times

A recent study by Intuit, the software giant behind QuickBooks, Quicken, and TurboTax, found that three-fourths of small business owners expect to grow this year, in spite of all the talk about a recession, corporate layoffs, and consumers cutting back.

Now, it’s probably safe to say that small business owners are a relatively optimistic group. Part of their optimism, though, comes from that fact that two-thirds of the people surveyed said they had survived a recession before. They’ve done it by putting their customers first and focusing on their finances.

georgeWhen I first started studying entrepreneurship, my perception was that large companies created the jobs. Our colleges train us to work in bigg business. It’s true that large companies tend to hire a lot of people during boom times, as do small companies. But during tough economic times, large companies cut back. Interestingly, small companies tend to pretty much hold their own.

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marylynn If you’re keeping an eye on the news, you see that a lot of large companies are cutting marketing and even customer service. They’re cutting jobs and even entire departments. They’re streamlining.

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As numerous studies have shown, the net effect of this is that, over the course of the business cycle, almost all new jobs come from small businesses.

Opportunities created by large businesses for small businesses in bad times

As large companies make cuts, astute small businesses can gain an advantage by using any or all of the following three strategies:

#1 – Turn bigg companies into your customers.
They’re reviewing their operations. If what they cut is what you do – it’s your service – market to them! They may still need that service in some capacity … take advantage of it!

#2 – Recruit their talent
A lot of the people they’re laying off are very talented. These are people that you may have never been able to get before. Recruit that talent. Provide them with a nice place to fall.

They may look for something more stable or some place where they feel more of a sense of ownership. Your business could be the answer they’re looking for!

#3 – Go after the large company’s small customers.
With the cuts they’re making, they have few resources to take care of their customers. It’s the old 80/20 rule – they’re likely to super-serve the 20% of their customers that constitute 80% of their sales. Then they may cut back on service for all the rest.

Go after these customers that are facing reduced service. They may be a small account to a large company, but they may be one of your biggest customers!

 

 

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I Want to Start a Home-Based Business. How Do I Make Sure It's Legitimate?

With tough times, people are looking for ways to either save a little or make a little more money. We’ve been getting more questions about part-time and/or home-based business opportunities. Specifically, we’re being asked how to tell if they’re legitimate.

One of the first things to look at is what they’re promising you. Specifically …

Do they make earnings claims?

george "Many offers will tout how much you can make. Legitimate operators will do one of two things: they won’t make any claim at all, or … they will tell you both the number and percentage of people who actually earn what they’re claiming. In my experience, they’re more likely to not make any claim at all."

Some real world examples

marylynn "I did a search for “home based business opportunities.” I saw six on my screen without scrolling down. Of those six, five made an earnings claim. I saw claims like “$250 thousand or more at home”, “$500 to $8,000 per month”, and $30 to $150 thousand in 12 months”. Then I looked at the most regulated business opportunities – franchises. I typed in “franchise opportunities”. One out of the four franchise opportunities made an earnings claim and it was also one of the home-based business opportunities!"

biz_ad

We’re not saying that being a franchise automatically makes it a legitimate opportunity. Nor are we saying that just because it’s not a franchise means it’s a scam. But from these examples, you do see differences in behaviors of companies that are more regulated and those that are not.

Do they stand behind their own claims?

marylynn "I went to the site of one of the home-based business opportunities. This was the one that claimed you could make $250 thousand. I scrolled way, way, down to the bottom of the page and clicked on the tiny, little link that said 'Earnings Disclaimer'."

george "Mary-Lynn printed it out. It was in ALL CAPS. Unlike the small font used for the Earnings Disclaimer, this was in 13.5 point type. They’re covering their you-know-what."

Here are some highlights …

“ANY EARNINGS OR INCOME STATEMENTS,  OR EARNINGS OR INCOME EXAMPLES, ARE ONLY ESTIMATES OF WHAT WE THINK YOU COULD EARN.”

“ANY AND ALL CLAIMS OR REPRESENTATIONS, AS TO INCOME EARNINGS … ARE NOT TO BE CONSIDERED AS AVERAGE EARNINGS. TESTIMONIALS ARE NOT REPRESENTATIVE.”

And our favorite part …

“WE DO NOT GUARANTEE OR IMPLY THAT YOU WILL … GET RICH, THAT YOU WILL DO AS WELL, OR MAKE ANY MONEY AT ALL. THERE IS NO ASSURANCE YOU'LL DO AS WELL.  IF YOU RELY UPON OUR FIGURES; YOU MUST ACCEPT THE RISK OF NOT DOING AS WELL.”

So they make a claim and then they disclaim their claim!
When you see this, exclaim your skepticism!

We’re NOT (sorry, we got used to seeing ALL CAPS) saying this particular example is a scam, but you would definitely want more information before proceeding.

The thing about earnings claims, at least here in the U.S., is they are required by law to disclose both the number of people and the percentage of people who are earning any amount they quote you.

So don’t be afraid to ask for documented proof of any claim. Then check out our article that describes 403 your next steps are when investigating a business opportunity].

 

Related posts

74]

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(Image from eggheadmarketing.com)

BIGG Success Logo boxed

I Want to Start a Home-Based Business. How Do I Make Sure It’s Legitimate?

With tough times, people are looking for ways to either save a little or make a little more money. We’ve been getting more questions about part-time and/or home-based business opportunities. Specifically, we’re being asked how to tell if they’re legitimate.

One of the first things to look at is what they’re promising you. Specifically …

Do they make earnings claims?

george "Many offers will tout how much you can make. Legitimate operators will do one of two things: they won’t make any claim at all, or … they will tell you both the number and percentage of people who actually earn what they’re claiming. In my experience, they’re more likely to not make any claim at all."

Some real world examples

marylynn "I did a search for “home based business opportunities.” I saw six on my screen without scrolling down. Of those six, five made an earnings claim. I saw claims like “$250 thousand or more at home”, “$500 to $8,000 per month”, and $30 to $150 thousand in 12 months”. Then I looked at the most regulated business opportunities – franchises. I typed in “franchise opportunities”. One out of the four franchise opportunities made an earnings claim and it was also one of the home-based business opportunities!"

biz_ad

We’re not saying that being a franchise automatically makes it a legitimate opportunity. Nor are we saying that just because it’s not a franchise means it’s a scam. But from these examples, you do see differences in behaviors of companies that are more regulated and those that are not.

Do they stand behind their own claims?

marylynn "I went to the site of one of the home-based business opportunities. This was the one that claimed you could make $250 thousand. I scrolled way, way, down to the bottom of the page and clicked on the tiny, little link that said 'Earnings Disclaimer'."

george "Mary-Lynn printed it out. It was in ALL CAPS. Unlike the small font used for the Earnings Disclaimer, this was in 13.5 point type. They’re covering their you-know-what."

Here are some highlights …

“ANY EARNINGS OR INCOME STATEMENTS,  OR EARNINGS OR INCOME EXAMPLES, ARE ONLY ESTIMATES OF WHAT WE THINK YOU COULD EARN.”

“ANY AND ALL CLAIMS OR REPRESENTATIONS, AS TO INCOME EARNINGS … ARE NOT TO BE CONSIDERED AS AVERAGE EARNINGS. TESTIMONIALS ARE NOT REPRESENTATIVE.”

And our favorite part …

“WE DO NOT GUARANTEE OR IMPLY THAT YOU WILL … GET RICH, THAT YOU WILL DO AS WELL, OR MAKE ANY MONEY AT ALL. THERE IS NO ASSURANCE YOU'LL DO AS WELL.  IF YOU RELY UPON OUR FIGURES; YOU MUST ACCEPT THE RISK OF NOT DOING AS WELL.”

So they make a claim and then they disclaim their claim!
When you see this, exclaim your skepticism!

We’re NOT (sorry, we got used to seeing ALL CAPS) saying this particular example is a scam, but you would definitely want more information before proceeding.

The thing about earnings claims, at least here in the U.S., is they are required by law to disclose both the number of people and the percentage of people who are earning any amount they quote you.

So don’t be afraid to ask for documented proof of any claim. Then check out our article that describes 403 your next steps are when investigating a business opportunity].

 

Related posts

74]

129]  

(Image from eggheadmarketing.com)