Merchants of Cool Marketing to Youth

-teenagers are one of the biggest markets

-teenagers run today's economy

-teenagers are given alot of 'guilt' money

-75% of kids have a tv in their room

-1/3rd have a computer which they spend atleast 2 hours on

-"if u dont recognize what they're thinking or feeling and put it into a message in which they will understand u will lose"

-teenagers = stuborn demographic

-teenagers respond to "cool", which keeps changing

-"cool hunting" is a search for a certain personality in a certain network

-many companies hire experts to "cool hunt"

-correspondants find trendsetting kids and they takes pictures and get their emails

-you can never find a solution, or solve the problem permanently

-turn the product into an icon.

AIDA

"get educated"
"Soar at sardis"
"3 S's for success"
"we accomplish"
"raise the bar"
Attention

• Great teachers
• Many opportunities
• Nice facilities
• Lots of school spirit

Interest

• Baseball Academy
• Hockey Academy
• Drumline
• Aprentiship
• Sports teams
• Clubs

Desire

• China Trip
• Europe Trip
• Project Help Mexico Trip

Action

Ray Kroc

-founder of Mcdonalds
-as a child was very ambitious. He also liked to sweep
-wouldnt take no for an answer. if he had an idea there was always a way to make his idea possible
-was a pitcher for his school baseball team
-alive during WWI
-joined the red cross ambulance crew thingy
-his father would not give him permission to marry until he was fully employed
-ray was a born salesman
-clean freak
-sold paper cups for 18 years.. his commisions provided a good life style... but it was affecting his relationship because he was so busy
-1939, became interested in the milkshake mixer
-at 37, he left his job at the papercup place and began to sell the "multi-mixer"
-after the war they closed their driveway and reinvented it. they made a larger store. it went from car service to self service. they changed their condement dispensers so each burger would be the same. they got larger grills and other appliances to speed things up. they went from 15 menu items to 9 menu items.
-after the changes sales went up by 33%
-less is more... do less but do it excellently and consistantly
-at 52 years old, he first heard about Mcdonalds... its interesting how he is still looking for new opportunities at the age where most are looking to retire.
-made sure that he set a statement for all his employees. was always setting an example
-after started up 18 stores, he was not financially successful so he bagan to rent real estate
-1961, he ended his 39 year marriage with ethal and went for jones. jone decided she couldnt leave her husband. he was heartbroken.
-a year later he met another woman. after 2 weeks of dating he married her.
-1958-1961, he opened over 200 new restaurants
-also owned a foundation for medical research and a baseball team.
-tried desperately to turn his baseball team around, who were a losing team
-his last shining moment: driving around in a convertable on his birthday at the beginning of a baseball game.
-Died of heart failure

Key Learning: it's important to set an example for your employees. For example, don't walk past garbage without picking it up.

Negociation

How did this guy negociate with the "sharks"? He was confident in his product and the future of his business. He has worked with VC so he knows what he is talking about. He has already doubled his sales from last year by 50% so it is quite believable . He was open to hearing the different offers that the sharks were offering, and negociating. He would not settle for much less than what he originally wanted. I believe that because he was so persistant and confident in his product, that he got such good offers.

Money from Nothing Assignment

Junked: took people's junk and sold it. profited $282
EggZemaEggs: took eggs and sold them. profited $15
BeginBoating: winterized boats for a profit of $120. Also made a video which has not sold yet.
Garage Sale Boys: took people's junk and sold it. profited $500.
RedLine: purchased parts for cheaper and then sold them for a higher price. profited $415.
Roses for a Cause: sold roses. profited $714.
Illuminight: installed christmas lights for people and took them down. profited $123
Gutter boys: cleaned out gutters and did other stuff. profited $350
Handbags: made handmade handbags which were customizable.profited $
Brandon's: delivered things or drove around. profited $280
Baked Food: make and try to sell food. no profit.

I don't have an opinion on who will be the most successful in our class. I believe Ben Kipper did well because he had already started his business a while ago so he already had a few clients and supplies unlike the rest of us who had only just started our companies and needed to spend time promoting, buying supplies, coming up with an idea and learning the necessary skills/what to do etc.

Petpeeves & Possible Solutions

1. Getting Stuck in Traffic
-There should be a team made up who focus specifically on clearing up traffic as fast as possible. A skytrain should be built from Chilliwack to Vancouver. That would cause less traffic on freeways and lower pollution.

2. Construction near Schools causing traffic
-Construction should during the hours when people are trying to get to and from school. For example, 7:30-8:30 and 2:30-3:30 there should be no construction!

3. People who form groups in the hallways
-They should go elsewhere.

4. Trying to find rides places
-There should be transit 24/7. Also, there should be a skytrain going from Chilliwack to Vancouver. That would mean less commuting and less pollution.

5. Trying to find a job
-there should just be 1 list of all places that are hiring which is constantly updated. It would make things a little bit easier.

Branding your Business

-"make sure when a customer walks into the Walt Disney store, it says what you want it to."
-"when you walk in what is it going to tell you?"
-"are they going to scream or whisper?"
- What is the retail store going to tell you?
1. What are your shelves going to say to your customers?
2. Powerful stores own 'Somatic markers'; some outstanding aspect stored in your customer's brain that is triggered every time they enter the store. What's yours?
3. Break with convention and reap the rewards. Like Job's stores, less seems to be more. Uncluttered works. Try it, you'll see it works.

Question: Start by identifying the qualities or characteristics that make you distinctive from your competitors or colleagues. What have you done lately - this week - to make yourself stand out? What would your colleagues or your customers say is your greatest and clearest strength? Your most noteworthy personal trait?

Answer: I have a fast learner. I can pick up most skills quickley and if it is more challenging then I still persevere.

Question: What do you want to be famous for?

Answer: I want to be famous for creating something amazing.

Seth Godin - Everything is broken

-people are willing to pay more for convenience or to solve symptoms rather than to fix their problems
-"no matter how broken something is, someone will disagree and think it isn't broken"
-“Finding new ways, more clever ways to interrupt people doesn't work,”
-“Selling to people who actually want to hear from you is more effective than interrupting strangers who don't,”
1. Not my job... someone who notices that something is broken but will refuse to fix it because it's 'not their job'.
2. Selfish Jerks
3. The World Changed
4. I didn't know
5. I'm Not a Fish - the person who designed the fish canal wasn't a fish so they didn't know what they are doing.
6. Contradictions
7. Broken on Purpose
-"they are broken on purpose so maybe other people will notice and like it and buy it"
-"the person who built this never used it and never put alot of thought into it - as a result it's a failure"

Seth Godin

-"you sell to the people that will listen and then you hope that they will tell their friends"
-"they got there by being remarkable, not by advertising"
-"1 person at a time, ideas spread"
1. design, That's what it is all about
 2. safe is risky, You will suceed better if you don't play it safe.
 3.Very good is boring and average. Be remarkable!
-"What you need to do is find out who does care and sell it to them"
-a bestselling author, entrepreneur and agent of change
-don't be boring!!

-example: the Purple Cow - it makes you get out of your car to look at it and then you text all your friends about it.

Home Depot

-grew up in a very poor family
-was determined to push himself to work hard until he reached his goals
-wanted to become a medical doctor but his family could not afford colledge
-instead was a pharmasist
-after graduating from pharmacy school, he partnered with two gentlemen and ventured into discounting, learning on the way to operate a business and how to merchandise
-he became Executive Vice President of Two Guys
-became CEO of Handy Dan where he got his knowledge of home improvement
-he and Arthur Blank were fired from that job
-started the Home Depot with Arthur Blank
-Arthur was the money guy, Bernie was the cheerleader
-Bernie knew how to motivate his employees
-Home Depot trained people to think for themselves and paid higher wages
-in the first year Home Depot lost $1 million
-all employees were trained to be courteous, helpful and knowledgeable, and customers came to love the attitude at this new type of home improvement store
-they found value in the product and repaid The Home Depot by returning to buy again and again
-buy the end of year 2 they profited $1 million
-Home Depot started to open more stores... they opened 4 more in Florida
-1996, Sales were up to $1 billion

characteristics

never stop learning
never give up
find out your strengths
never stop after failure
take risks
be passionite
perservere
creativity
know what you want
willing to fail
always take free advice
hardwork long road
dont do it for the money
be frugal
stick to your goals
dont procrastonate
learn from mistakes
use your network
use a ledger
do something you love

Robert Heriavec

-Hates lists of excuses
-Hates when people do not take initiative
-Loves the computer industry
-His dad worked in a factory
-"Who you are today is shaped by your experiences".
-raised by his aunt and uncle who were farmers
-"I don't understand people who don't have ambition."
-moved to toronto from crotia
-was very poor growing up
-"Don't ever complain. This country is a great place, you can be anything you want."
-"My favorite part of being wealthy is the sense of self being and the confidence."
-"I'm no more special or better. If I was able to do it then anyone can."


LEARNING:
I am going to work hard and try not to complain because my life is a lot better than many other people's lives. When I set goals, I am going to do my very best to reach them and accomplish what I want to.

Arlene Dickinson

-"You earn your way to money, you don't just get it given to you".
-was once a poor single mom
-born in south africa and moved to canada at a young age
-their car broke down so they had to use her mother's wedding ring to get to her destination
-grew up very poor
-all she really wanted was to have a wonderful family
-"Money is not the solution for everything. knowing who you are is the solution for everything."

Jim Treliving

-his dad was a barber
-he played hockey
-his dad bought his house in cash, he never had a mortgage or credit card
-by grade 11, he joined the rcmp
-for 9 years, he policed which taught him how to read people
-he traded in his badge to open in boston pizza in penticton
-he never had a day off at bp for 2 and a half years
-"I had too much pride to give up"
-George Melvel, an accountant, helped him on the financial side of his company
-"You need to jump at an opportunity when it comes to you."
-"Persistance works, hard work really works".
-"The harder I worked, the luckier I got."

Hedge Hog Concept

What is the Hedge Hog Concept? It refers to how the top managers in a company take care of, and lead, the business. The hedgehog concept states that there are two ways that a top-level leader can direct the company: as a hedgehog or as a fox.

If you are a fox, it means that you are always in a hurry to get ahead. You rush around from one great idea to the next, looking for the next big thing. You are easily distracted and you constantly are working out new schemes. You want to make your company a lot of money.

If you are a hedge hog then you move in a slower and more deliberate way. All decisions are considerated carefully - is it what's best for the company? You are open to new ideas and will tweak your plan and the company with small changes here and there but only if they will blend with the company. You take everything one step at a time and concentrate on what you do best.