What You Need to Know Today: August 28

Good afternoon, Early Risers!

Here’s what you need to know

TECH

The secret to making products your customers love. A big mistake a lot of experts make when they’re selling products, especially information products, is they try to package everything they know into their product and market it as added value. The truth is, if you’re doing this, you’re not helping your customer. You’re only confusing and frustrating them more. Instead, what you need to do is listen to what your customer needs (ask what results they want to achieve) and give them that.

One product, that’s not an information product, but is a prime example of a business that listens to their customer’s needs is S’Well bottles. When S’Well first started, they only made bottles in one size. As the company started to grow, customers wanted different sized bottles – one big enough to hold a bottle of wine and one small enough for a kids lunch box. S’Well listened and gave their customers what they wanted. As a result, the business sold more water bottles and is growing. What S’Well didn’t do, was try to sell other eco-friendly products – something that’s near and dear to Sarah Krauss, CEO and founder – but not an urgent need for S’Well customers.

+ Another business that listens. Here’s the latest update Insta introduced.

Did you get an Apple invite? If you haven’t seen one of these yet, here’s the scoop: On September 9th, Apple will be hosting a press conference, in what we assume, will be the unveiling of the new iPhone. The invite says, “Hey Siri, gives us a hint.” Which is a big hint that Apple’s virtual assistant Siri will have some major updates.

+ Vine launches new music friendly features.

CAREER

How Elon Musk outsmarts everybody (stupid-simple strategy). When Musk and his team were trying to estimate how much the first SpaceX rockets would cost, they could have just looked at the products on the market. But his team didn’t settle for that analogy-based argument. Instead, they figured out what the necessary parts of a rocket were, and then found out how much the raw materials of those parts would cost (Business Insider). What Musk’s team found was they could make a rocket for much cheaper than they were told. Musk learned this approach to problem solving when he was in college. It also happens to be an ancient-thinking strategy anyone can learn.

This is not just another read on how to succeed. I should know. I spent years plowing through book after book on success, says Francesco Marconi. Marconi is like you and me. He’s a young, ambitious millennial, figuring out his path to success, while seeking out new ways to add value to the world. One of the projects Marconi is currently working on is called Frankly Speaking. It’s a diary-turned-professional playbook, about lessons Marconi is learning in real time. “I decided to take a stab at writing my own “success” story — a story that is still being written. Instead of a polished retrospective from the mountaintop.” Inc. magazine just did a feature on Marconi here. I’ll keep you updated as the story unfolds.

+ If you have any early-career success stories or lessons you’d like to share, email me: support@etrhelp.com. I’d love to hear them!

“That’s why they pay me the big bucks, guy.” Hah! Dan Kennedy said this to Eben Pagan – a guy who most people would consider ‘gets paid the big bucks’ (think: $10,000/person seminars). But it was Dan schooling Eben in this rare interview on Tuesday. Dan talks to Eben about the flow of money, specifically, two ways you can put yourself in the path of money; what “marketing” actually is (most people are clueless… I admit, I was even surprised by this). Take out a notepad and watch this.

LIFESTYLE

Read this before you go out to eat this weekend.

  • Surf and Turf…………………..$45.00
  • Salmon……………………………$28.00
  • Fish and Chips…………………$16.00

Suddenly that $16 fish and chips looks cheap. This is called “anchoring.” One of the many ways restaurants try to trick you into paying more.

Rich people avoid this (except for The Boss). After studying more than 1,200 of the world’s wealthiest people over the past 30 years, Steve Siebold, self-made millionaire and author of How Rich People Think, found one thought pattern rich people tend to avoid (except for Bruce Springsteen 😉

#NOWYOUKNOW
Elon Musk is a burner!

No, not that kind of burner. A Burning Man burner, says Entrepreneur. Here’s an eye-opening look at why the 1% love Burning Man.

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