One of the two books that Tobias Lutke (founder of Spotify) says one of the two books that taught him the skills to build a billion-dollar net worth is Influence: The Psychology of Persuasion by Robert Cialdini. So let’s unpack that a little together.
Episode #888 April 28, 2023
Hi, this is Dan Miller – and yes you’re listening to the 48 Days Radio show – where each week we take 48 minutes to dive into real-life questions about finding your passion, deciding what kind of life you want to live – and then finding or creating work that allows you to show up every day, excited to be able to do something that is meaningful, fulfilling – and profitable. This is where normal, indecision and ambiguity come to die. Welcome to the 48 Days Radio Show.
Thank you for being a listener of this podcast. I love hearing from you and being allowed to think through the questions we all have about finding or creating work that matters, for people who care.
These are the five elements that will help you become a millionaire or even a billionaire.
Reciprocation: Why Charlie Brown could get a cookie anytime he wanted to
This refers to the human need to return the favor. A study in a Southern California Candy Shop found that receiving a free piece of candy as they entered made the recipients 42% more likely to make a purchase, even if they didn’t like the candy they were given.
Giving gifts will increase your success big time.
The author also refers to the idea that after someone says no to a higher-priced item, they will often say yes then to a lower-priced item. This is a lesson learned from Dennis the Menace,
Liking: How a common car salesman became extremely wealthy
This refers to the old adage that we do business with people we like. The author talked to a gentleman who handled malpractice suits about why some doctors get sued more than others. The attorney said that it comes down to the doctor/patient relationship. People just don’t sue doctors they like.
The author tells a story about a car salesman in Detroit who became wealthy selling more than 5 cars and trucks sold every day he worked. He offered people a fair price and someone that they liked. Every month, he sent every one of his customers a holiday greeting card that said, “I like you.”
Authority: Why admitting you made a mistake can elevate the trust others have in you
This plays a major role in business. You can increase your authority by how you dress and how you present yourself, even on a Zoom call. A lot of people compromise their authority by not paying attention to how they come across to other people.
One reason to increase your authority is to actually admit your mistakes. It makes you more relatable. You don’t have to perfect to be seen as having authority. You just have to be real.
Social Proof: One simple phrase that will increase your sales
Almost all species like to imitate each other. If people see other people doing something, they think they should be doing it as well.
Listing a menu item as “Most Popular” increases sales more than any other note on a menu.
Consistency: Why asking people for help makes them want to help you more
This refers to the human need to save face in front of others.
What one of our Eagles Alan Thomas does in his Weight Loss Program is asking people to consistently post the number on their scale on social media. The desire to save face motivates them to stay on track.
This looks at the emotional side of business, as opposed to the logical side.
Quote:
[click_to_tweet tweet=”“Who will be better because of what I do today?” Craig Lindvahl @48daysteam” quote=”“Who will be better because of what I do today?” Craig Lindvahl “]
Resource:
Alan’s weight loss program –transformmyfuture.com/48Days/
Action Steps:
Reciprocation: Giving something away will increase your success
Liking: Be a person that other people like – be pleasing, kind and compassionate
Authority: Dress and act like someone others will respect
Social Proof: Do something that others want to talk about – in a good way
Consistency: Be comfortable asking others for help – it will deepen your relationships
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