Author: Adam

My latest magazine column and why $1 is so important and ideas vs. opportunities

I was on the phone yesterday with an entrepreneur from Texas who has a great business idea. Or, so he thought.

He emailed me about 6 months ago and we’ve been corresponding back and forth. I always love hearing from my readers and passionate entrepreneurs and try to help whenever I can.

However, there is a very big difference between a great idea and a great business idea.

For example, a great idea is coming out with black and brown band-aids. Why not have band-aids that match black and brown people’s skin color too?! But that’s not a great business idea. Companies like Johnson & Johnson and P & G would eat your lunch.

They already have the distribution and the factory and the deep pockets to launch this product virtually over night. Creating a company that is going to produce brown and black band-aids is not a good business idea. But it’s a good idea.

So as we started talking I sensed his enthusiasm and was really excited for him. However, I asked him how he intends to make money.

“Well, I’m not sure,” he said. “I’ll figure that out later.”

Sorry but that’s wrong!

If you’re starting a business, especially as a younger entrepreneur, you need to focus on your revenue model. Please note: I’m not saying you shouldn’t focus on serving your customers/clients. I am obsessed with client service. But I’m able to make money by obsessively servicing my clients. I knew how that was going to happen from day 1.

I love his idea. It’s fantastic. I’m always interested in investing and helping very early stage companies with a great idea but you need to know how you’re going to make money. And before I’d ever invest in a company, I’d want to know that they’ve, at least, made $1.

The most important dollar you’re ever going to make is your very first dollar. You know someone is willing to (and wants to) pay for your product.

Unless you have extremely deep pockets you can’t afford to run a business that’s not generating revenue. Before you bet the entire farm on your business make some money. Crawl before you walk!

My latest magazine column for Millionaire Blueprints Teen is exactly about this. Check it out:
The PDF is attached here.

And to my man from Dallas, we’ll get there. But first we’re going to focus on crawling and we’ll be running in no time!

All of my people say Big Mac! “Big Mac!” The future of advertising is here…

The future of advertising is having your loyal customers create advertising for you.

Companies that are killing it in today’s economy embrace their customers. They realize without their customers they have no business. And they don’t act like monopolies.

They also cater relentlessly to their clients and customers.

They don’t create products and services and then find people to sell them to like the old days. No. They find people who have a problem or a pain that needs to be solved and create products and services for those people.

And just like successful businesses are changing how they go from concept to creation to marketing; they are changing how they market the products they created.

At least, the successful ones are.

Why? Because in our media-overwhelmed, hyper-cluttered world attention is hard to come by.

With more and more people watching less and less commercials, it’s very different (and difficult and extremely costly) to get the attention of people.

There are no longer just 3 major TV stations that everyone watches or 3 major magazines that everyone reads.

If you’re going to seek out attention (which is imperative as a company) you need to be attention worthy.

If you want people to stop what they’re doing to watch your TV commercial you need to make it worth their time. You also need to make sure you frame your message in the right way.

Who better than your customers to help you do that?

As I’m working on my new website, my clients have become invaluable resources. I’m constantly asking them questions. The number one question I ask them is, “What does MyBodyTutor do?”

The answers I get are astounding. Of course, I know what I do. But to hear it from your clients makes everything crystal clear. Involving my clients, my fans – the people, who are voting with their wallet, is the only way in my mind to create my messaging.

So, long blog post short, McDonald’s is doing something pretty cool. They are holding a contest to see who can create the best 30 second Big Mac chant. And the winner will have their chant and commercial on TV.

The 5 finalists have created some pretty amazing chants. My vote is Track 2. The other ones are a little too ‘rap-ish’ for TV and Track 2 is very Justin Timberlake-ish which is a great tie in to the whole ‘I’m loving it’ campaign they did with him. You’ll hear what I mean.

It’s like what Dorito’s has done for their Super Bowl commercials the past few years and it has been a huge hit.

So, all of people say: My…Body…Tutor!

“My…Body…Tutor!”

Warning: If you like reality TV you should read this!

And if you want to be a future reality TV star you must read this!

I admit it. I watch my share of reality TV. It’s mindless entertainment and sometimes that’s just what we need.

As we all know by now, reality TV isn’t really reality. It’s just using ‘real’ people to stage scenes, etc.

The intoxicating allure of it has created so many new ‘stars’ that aren’t even actors. They are just reality TV stars. Take, for example, ‘New York’ from the hit series, “I love New York.” She really is trying to make it as an actress in Hollywood now.

But the problem is no one cares about her acting abilities. People just care to watch her ‘reality’ and her search for love. Let’s look at Brooke Hogan. She is (or was) an aspiring pop star. On the reality show, “Hogan knows best” they showed her singing and working out and really trying to make it happen.

Again though, I don’t really care about her singing abilities. I’m more interested in seeing her ‘reality’ and because of this her singing career isn’t going anywhere; yet her reality show career seems to just be getting started. Some might say Joe Simpson is a genius for getting his kids their own reality shows.

After all, exposure is the name of the game. A lot of fun and exciting things can happen from exposure. But if you’re not exposing yourself to what you stand for, to what your business is and to what you’re trying to accomplish then I think you’re doomed.

Why take someone who has real talent (or at least the ability to sell lots of albums) like Jessica Simpson and turn her into a ‘Paris Hilton’ type? No one cares about Jessica Simpson’s singing career anymore.

Let’s take for example, Bethenny Frankel of “The real housewives of NYC.” Even though I have a huge crush on her, I’m not so sure this was the best move for her. She is an entrepreneur, “A celebrity natural food chef” as she likes to call herself and is trying to build a brand. She wants to ‘democratize health by making it accessible to everyone’.

I am all for that. However, the problem is I don’t really care about her business endeavors anymore (I watched her on Martha Stewart’s Apprentice). I care more about her relationship with her boyfriend. Are they together? Are they not together?

How about Bret Michaels who had his own show called “Rock of love”. I was never a Poison fan. And I’m sure he has plenty of new fans who’ve never heard a single song of his.

I certainly don’t care when he’s releasing his next album. All I know is that he made the saying, “Will you rock my world?” popular again and I’m curious to know if he’s still with Amber.

But then you have an enterprising woman like Patti Stranger who stars in her own reality show, “Millionaire Matchmaker.” I think this is a brilliant move. Her show is about her business. And her business is interesting enough that people want to watch her (and her clients) in action.

Even the “Making the band” series by Puff Daddy isn’t a terrible idea. However, when he’s on his 4th or 5th season (I can’t keep track of them anymore) you begin to question if he’s in the business of making ‘hot’ records or just ‘hot’ reality TV. There’s no authenticity behind his shows anymore (and that’s critical) but they are fun to watch.

And that serves a purpose too. But for him. Not for the aspiring singers or rappers. It’s his show. He’s the executive producer. He’s the one getting paid, regardless.

If you just want to be famous, for fame’s sake then by all means sign up for a show. But if you’re really trying to do something besides becoming famous, I’m not so sure it’s your best move unless your show is about your business. Otherwise, you’re branding yourself as a ‘reality TV star’ whether you realize it or not.

And B. Frankel hit me up if it didn’t workout with Jason. I’m sure you use Google Alerts – so I’m sure you’ll read this. Be the cougar you know you want to be.

We’ll take over the health and fitness world together. And we’ll have our own reality show about our businesses.

And then you can say, “GuruGilbert & MyBodyTutor” rocks MY world!

[Some comments over at BrazenCareerist.com too!]

My brilliant idea on how to solve the homeless problem (at least in NYC)!

I hate seeing homeless people. It makes me sad (and so grateful at the same time). And lately, I feel like I’m seeing them more and more.

So let’s solve the homeless problem (at least in NYC)!

One day, I hope to be in a position where I can make significant change with time and money. But for now, I have some ideas. So here is mine and it’s based on this great quote:

“God can only help those who want to be helped.”

1. We’ll have a group of volunteers that actually engages with the homeless. They won’t just give them food. That doesn’t solve the problem. “Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime.”

They will talk to them (if possible) and learn more about them. Most importantly, they’d learn if these people want to make a change and want to clean up their act and want help.

2. Once they decide they want help, they will be moved into a home; a gorgeous one with really nice amenities. I want to show them the possibilities this world has to offer. They will ONLY be allowed to stay in this home if they agree to detox. We must help them fight their addictions.

3. Once they complete their detox program and are completely sober – whether it takes several weeks or several months – (My main concern is that they are drug and alcohol free) they will begin a simple 1 week refresher class on life.

Most homeless people weren’t always homeless. So these people (once they are clean) will be able to learn and relearn how the real world works.

4. Since they are now drug and alcohol free (which is the biggest part of the problem) and a psychologist* has given them the thumbs up – they will be entered into our work program after completing our 1 week refresher class.

5. Our work program is simple. From 8 AM -6 PM (under close supervision to make sure they don’t fall back into bad habits) they will sit on the corner they used to sit on. This will give them a taste of how bad their life really was. And now that they’re sober, they’ll be able to appreciate how bad it really was.

6. Here’s where the big idea comes into play. Instead of holding a sign like the one above, the sign would have a company logo. Say for example, MyBodyTutor.com.

It would be a nice shiny sign with some indication on it that they are part of the ADG program (We’ll call it the Adam Drew Gilbert program for now).

7. Everyone loves an underdog and everyone loves to help people out. Especially, someone that is trying to get his/her act together. People appreciate that greatly.

Continue reading “My brilliant idea on how to solve the homeless problem (at least in NYC)!”

Book Review: Sway: The Irresistible Pull of Irrational Behavior (Plus win a copy!)

I was lucky enough to get a copy of Ori and Rom Brafman’s Sway which is on the New York Times Bestseller list. Why do perfectly rational people make irrational decisions?

Well, that’s exactly why I found this book so fascinating because it’s all about the hidden psychological influences that disrupt our ability to make good decisions which is so critical in life (and business).

Did you ever wonder why it’s so difficult to sell a plummeting stock or end a doomed relationship?

Why do we listen to advice just because it came from someone “important”? Why are we more likely to fall in love when there’s danger involved?

In Sway, all of these questions are answered and more.

This book reveals the many dynamic forces that influence our personal and business lives, including loss aversion (our tendency to go to great lengths to avoid perceived losses), the diagnosis bias (our inability to reevaluate our initial diagnosis of a person or situation), and the “chameleon effect” (our tendency to take on characteristics that have been assigned to us).

Sway introduces you to the Harvard Business School professor who convinced his students to pay more than $200 for a $20 bill, the head of airline safety whose disregard for his years of training led to the transformation of an entire industry, and the football coach who turned conventional strategy on its head to lead his team to victory.

You’ll also learn the curse of the NBA draft, discover why interviews are a terrible way to gauge future job performance, and go inside a session with the Supreme Court to see how the world’s most powerful justices avoid the dangers of group dynamics.

Should I buy this book Adam?

Yes! Without a question. It’s a really interesting and fun book and makes for a perfect beach or pool side read. If you like books like Blink and Freakonomics you’ll love this book!

How can I win a copy of this book?

Email me at GuruGilbert [at] yahoo [dot] com and tell me 3 reasons why you want this book. Last time I did a give away it was pretty cut and dry. But since this book is all about irrational decisions and why we make them, I figure this will be more fun. Please put ‘Book give away’ as the subject of the email. Deadline is midnight on Monday the 14th.

Go work your magic and I’ll post an update below as to who the winner is and there 3 reasons.

[Update: The winner is Gary from Chicago. The main reason why I chose him is because he told me recently that he ‘never, ever, reads blogs’ and he is also a client of mine. So I was quite surprised when I got an email from him. I’m sorry to all of you who emailed me some great answers and reasons. Gary’s answers were quite simple:

1. This is the first blog I have ever read. I must say I’ve become a regular reader of your blog and really enjoy it!

2. You, your company and your program rock. And as you know, I’ve referred over 10 people to your business.

3. I have never won anything before. So as you say, “Make it happen” for me!

How can I resist guys? I told you this was an irrational contest. The next one will be a lot more cut and dry. Promise.]

*The definition of a poodle (find out if you are one)

Last week, in a post, I wrote “I’ve met plenty of poodles* that can hardly talk about anything besides their bags, nails and dog.”

So here is my definition of a poodle. I can’t take credit for this term though. My wonderful mother coined this.

A poodle is: A girl (or guy) that believes that looking good is all they need to do. That is their contribution to society.

A poodle could care less about what’s going on in the world, her job (if she has one), her goals (wait, what are those?), how she earns money (Daddy!), how she pays for things (Oh, you mean, like, my credit card bill that my parents pay?), or anything else besides things that involve helping her (or him) to look good.

Now, let me clarify, there is nothing wrong with looking as good as you can. I’m all for it. In fact, that’s what I help people do. That is my biz. I help people feel and look as good as they can. Because when you feel good, you do good. But the doing good part is the key here.

Also, for some reason, these poodles believe that they are God’s gift to the world. They truly believe that because they are good looking they are better than other people. Fascinating. You do realize that you’re mostly born with your looks. Either you got ‘em or you don’t.

Well, that’s not entirely true. Make-up (and sometimes surgery) does work wonders.

But no big deal, if you don’t have looks. After all, they are just looks. For the most part, you didn’t do anything for them. (Doesn’t mean you shouldn’t try to look as good as you can or you shouldn’t try to have the best body you can.)

It’s what’s behind those eyes that really matter. Most of these poodles (male and female) have been spoiled silly their entire lives. So they are used to getting whatever it is they want; without working for it.

Which breeds confidence. Getting what you want by working for it (or, not working for it) is one sure way to increase your confidence. After all, that feels incredible. No wonder business moguls, actors and politicians sleep around. They feel like they are on top of the world.

And of course, confidence, and being comfortable in your own skin is by far the sexiest thing in the world. (Precisely why Melania said she is so attracted to The Donald!)

There’s nothing wrong with being born with a silver spoon in your mouth. It’s not your fault. It’s to your advantage, really. The problem with never working for anything though is that you’ve never strived for anything.

And that my friend, is really boring. People always say, “I wish I was a trust fund baby or the people who are given everything will never have to worry about money anyway, so what’s the difference?”

That’s a pretty pathetic way of looking at it. That means all you care about is money? I don’t believe life is about money. Life is about doing what you love. Life is about the journey. Life is about the pursuit. If you have enough courage to find what you love doing (along with some brains) you’ll wind up making a lot of money.

The hugely important difference between poodles and the rest of us are 4 things that can never be bought, no matter how much money your parents give you, that make all the difference in the world:

Strength. Depth. Character. And perspective.

Instead of being a perfect poodle (which is really boring) try being more like a lovable and interesting George!

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Related post by Christine Hassler with awesome comments: Cutting The Financial Cord

[Check out the conversation over at Brazen Careerist.com!]

Inelastic sports pricing and why movie theaters will always be around

As a diehard Michael Jordan fan, I still get the chills when I watch this intro. It reminds me of the good ol’ days when becoming a professional athlete, more so basketball player was still a career option.

Or so I thought.

The reason why companies like Stubhub and ticket brokers continue to make so much money is because of experiences like this.

Sure, I can watch the game on TV but it’s just not the same.

Same reason why movie theaters will always be around.

Many people go to movie theaters to see films on the opening night, where they will pay a large price to see a film that later will be available for free, or almost free, via rental or download.

Sooner or later you can find a free copy of whatever you want, but getting to see a copy the moment it is released by its creators (and actually being there) is priceless.

Like watching Jordan play.

The only business where it’s acceptable (actually, encouraged) to brag about how much money you make

I’m listening to 50 Cent’s “I get money” right now and it got me thinking. When can a rapper go from rapping about how he used to kill people and sell drugs to how much money he is making?

Rappers are typically limited to a few select topics. They are either rapping about how they used to kill people or how they will kill people (and maybe even you), how they pushed the highest quantity of drugs from wherever they’re from, how every girl on this planet wants them and how they don’t want them, or, how much money they make and how they spend it.

I find this very interesting because this is the only industry where the person/company selling goods can actually flaunt to their customers (who are affording them their lifestyle) how much money they’re making. And it doesn’t turn off the customer. Actually, I think the customers like it.

You’re certainly not going to see Howard Schultz (Starbucks) on MTV Cribs anytime soon showing off his ridiculous cars and houses. You’re not going to see Shelly Hwang and Young Lee, founders of the highly popular Pinkberry (still boggles my mind), flaunting their newfound fortunes, either.

In fact, if they were flaunting their money it would most likely turn you off from their company. I’m not saying that they shouldn’t enjoy the finer things in life, either. These people had big ideas and brilliant execution. They deserve their success. But they definitely shouldn’t have commercials promoting their products while deliberately showing off their Bentley’s and other ridiculous cars and houses.

However, for rappers, it’s part of the gig for some reason. It’s part of their image. Seeing 50 Cent get out of a Toyota Prius just wouldn’t do it.

I think a huge part of what rappers are selling is fantasy. And that’s what music does. It makes us dream. It inspires us. Hence, why I want to be a DJ.

But for some reason, rappers are all about the Benjamins. The hotter they are (in terms of popularity), the more money they make…and the more they’ll rap about how hot they are and how much money they make.

Are there any other industries where this is the case?

Of course there are. It’s just not so blatant.

Do you want your heart surgeon driving around in a ’88 Chevy? No. You want to see (if you do see) him driving around in his brand new SL 600. You want the best in the World.

It also works the other way.

Do you want to see your cleaning lady that you pay good money driving around in a yellow Ferrari?

Do you want your sweet and innocent insurance agent driving around in a nice car? Sure. But not too nice because then you’re going to wonder how he makes all of his money.

(Your commission!)

The 3 major questions we all have to answer in life

I’ve received a lot of email in the past few weeks about my post regarding marriage. My ‘does marriage serve any purpose these days’ post has 85 comments and counting. Obviously, it’s a topic we’re all interested in.

In fact, I’m fascinated by it. The number one question I got is, “Why are you writing about marriage?”

Here’s why:

Because I think it’s remarkable when someone finds the person that they want to spend the rest of their life with. I mean, it took me months and months just to find a web designer/developer I liked and that didn’t even work out. I can only imagine how one must feel when they find the person that they want to spend the rest of their life with.

And that is exactly why I don’t understand why marriage makes sense. However, one day, I truly hope to feel what you married folks do. But until then, I’ll keep it real.

Whenever I’m with a married couple, I often wonder if they are each other’s soul mates or if they settled? Did they really try to find the person that would make them the happiest they could possibly be? Did they try to find their best possible match?

As one reader said, “You need to choose your partner out of love and respect, rather than convenience and security.”

But some people are willing to fight for their happiness way more than others. Most people aren’t willing to risk comfort and security for excitement and thrills whether it’s for love or a career. I happen to believe that settling in any facet of your life is a sure way to be unhappy. That’s unforgivable.

Certainly, telling someone you think that they settled is not something for you to do. It’s their life and if they are happy then that’s all that matters. But how happy are they is what I’m really curious to know. Because as we know; happiness is relative.

There are 3 major questions we all have to answer in life:

How you spend your life, who you spend your life with and where you want to do the first two.

I’m going to leave the third question alone for a while because that’s highly influenced by who you choose to spend your life with. I think who you choose to marry obviously says a lot about you. Actually, it says everything about you (along with how you choose to spend your life). Sometimes, you may wonder what in the world does she/he see in that guy/girl?

Or, you may see a couple that is very unbalanced looks wise. One partner might be a lot more attractive than the other. But of course, looks aren’t everything. I’ve met plenty of poodles* that can hardly talk about anything besides their bags, nails and dog.

But then you always see the fat wealthy business men with their trophy wives. I once read an interview with Melania Trump, and they asked her if she would have married Donald Trump, if he wasn’t so rich. She replied, something along the lines of, “Would he have married me if I wasn’t so beautiful?”

As they say though, “A ten never marries a one.” Which is to say that you get what you are.

Love is blind, of course – but usually for a reason.

*Future blog post