This week in the Argent Place® Review, we provide you with the top five lessons learned from the media. There are millions of articles posted every day, and some of them can teach us some great ideas to build upon the ideas we would like to turn into real wealth. We have decided to dig a little deeper into the surfaces that these articles present to provide you with a few thoughts they can help you to reach the milestones you have set.
Protect Your Brand and Protect Your Wealth
In an Inc.article, Peter Gasca wrote “A Lesson in Rebranding From Monica Lewinsky.” While the article was eye catching, it also makes you think about why a brand is important. As the article stated, Monica Lewinsky was only an infamous White House intern who now makes her money from her public image. In Ms Lewinsky’s case, the bad press and media is what ultimately created her mark; however, and even though it took more than ten years to happen, she has put in the work to change her brand with over 73,000 twitter followers. This will ultimately lead to more public speaking engagements and she may gain respect and wealth as a public figure.
In this case, the Monica Lewinsky brand is her name and her person, which are protected by tort law; however, this concept is very similar for businesses. Creating a brand takes a lot of work, and if you do not protect it with a national trademark, you may leave open the opportunity for another company in a different geographical area to use your same name.
Follow Your Dreams and the Law
Stephanie Vozza wrote this awesome article, “4 Habits of People Who Follow Their Dreams” for Fast Company and explained some pretty valid and important habits of people who follow their dream. I’d like to add another habit at the top of the list: “Use The Rules of Business to Commercialize Their Dreams.” In a perfect world, we dream up awesome ideas, we create companies to exploit the ideas, and we make a lot of money by satisfying customer demand. The article refers to “nay-sayers,” those are people who want to stop that process short, who think your ideas are too risky or not worth pursuing. But the lessons from this article tell us not to listen to the nay-sayers, don’t let rejection stop us, and make our own opportunities. All of that starts with taking the very first step to start that company and work on your ideas. With all due respect to celebrities and lottery winners of the world, people who have ideas but don’t follow their dreams by taking the steps to form a business that turns those ideas into products and services don’t make a lasting impact on society.
Crowdfunding is Still A Great Option To Build Capital
Since crowdfunding started, the media has had many mixed reviews on whether this concept will really take off. Well, it is, at least in the metropolitan DC area. The Washington Business Journal recently posted that D.C is No. 1 When it Comes to Crowdfunding. The District of Columbia has also recently undergone major re-building and has enticed business owners and entrepreneurs from around the globe to do business in the District. It seems that many have learned from the political fund-raisers that crowdfunding is the way to go and they have had much success with it. Learn from the best and consider this option when you’re thinking about obtaining capital for your business.
People Care About How You Say GoodBye
Forbes staff writer Susan Adams wrote an article “89 ways To Sign Off an e-mail” as a follow-up to an earlier article she wrote that gave only 57 ways. The earlier article received 750,000 views over the span of a year. The follow-up article was written on October 8th and it already has over 43,000 views. It’s crazy to think that so many people care about how you say goodbye or sign off on your e-mails. So when you think about your signature, which can also be thought of as your “mark,” remember that your brand is being impacted and this small feature can have a pretty big impact on your overall brand (and wealth). Also note that #57 Legal Disclaimers made it to the list. Be sure to consult your attorney to see if it is important to add this to your oh so important sign off.
Fundamentals are Often Forgotten
Many people think that wealth is created from mysterious philosophies or habits, but as the best sports coaches often emphasize, the value is in the fundamentals. You can have all of the fancy footwork that entertains a crowd, but if you miss the basics, nothing else matters. Meiko Patton, contributing writer for Entrepreneur magazine, wrote a fantastic article, 21 Ways to Achieve Wealth and Success, but missed the fundamentals! Wealth and success is built by following the roadmaps that have been laid out for centuries. Register your business, protect your ideas, pay your taxes on time, and drive your product or service through those amazing ideas that made you want to start your business in the beginning. The secret to business success isn’t in the special sauce, it’s in the fundamentals…like a really good steak with a side of mashed potatoes and asparagus.