Mastering the art of profiting from your ideas involves more than just inventing concepts. As Dr. Terri Levine puts it, “The act of inventing ideas means nothing if you are not actively spreading those ideas to the world.” Once you’ve identified a profitable concept, the key lies in actively working on it and showing up in your market.
Actively showing up in your market helps you build a unique position, shielding you from the constant pressures of price comparison and emphasizing the distinctive value that only you can offer.
In today’s episode, Dr. Terri Levine unveils the secrets to breaking free from the constant struggle of price comparisons. Drawing from the movie ‘The Social Network,’ she discusses her perspective on leveraging ideas for success.
She outlines the steps to profit from your ideas and shares a compelling case study showcasing the effectiveness of actively sharing your ideas with the world.
Tune in for valuable insights!
Key Highlights From The Episode:
[00:45] Today’s focus; How to stop price comparison
[01:44] Dr. Terri Levine’s review of ‘The Social Network’ movie
[02:44] The art of profiting from your ideas
[03:27] Steps to profit from your ideas
[03:32] #1 Humility
[03:56] #2 Actively share your ideas with the world
[04:38] A case study highlighting the effectiveness of actively sharing your ideas with the world
Golden Nuggets:
- Good movies offer new details and perspectives upon rewatching. [01:29]
- “Inventing new ideas means nothing if you are not actively spreading those ideas to the world.” ~Dr. Terri Levine [03:02]
- Actively sharing your ideas with the world puts you in front of your market and reminds them of your presence. [04:25]
- Actively showing up in your market helps you build a unique position for yourself in the market. [06:16]
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Full Transcript:
Hi, there, welcome back to Digital Marketing for Coaches & Consultants. I’m your host, Dr. Terri Levine. Pardon the voice, just getting through COVID once again. Today, I’m going to talk to you about how to stop price comparison so that you stand out and actually build your own universe. A couple of weeks ago, I rewatched the movie ‘The Social Network.’ I don’t know if you’ve watched it before. I think this is my third or fourth re-watch. And the reason I decided to rewatch it was because I recently heard a podcast. On a podcast, the host had made a few interesting observations about production of the movie. And I was kind of curious, I decided to see if the podcaster was right.
Most importantly, what I really wanted was a refresher on how Mark Zuckerberg built meta into an incredible universe. And that’s actually, in my view, the beauty of really good movies because, as you rewatch them, you could pick up a new detail, a new observation, a lesson, an insight, you can shift your perspective a little. To me, that’s the purpose of a good movie and rewatching them. Well, on this particular rewatch, I was struck again by what might be, or, to me, the most famous quote in the entire movie. And it’s at a point in the story where the Winklevoss brothers are suing Zuckerberg for stealing the IP of Facebook.
And they’re all gathered in the boardroom, there’s a bunch of lawyers in there. I don’t remember exactly what their brothers said, they just kept claiming that they had invented Facebook. And finally, Zuckerberg snaps back at them and this is what he says, “If you guys were the inventors of Facebook, you would have invented Facebook.” Now, here’s where it gets interesting. I vividly remember watching this movie when it first came out, I think it was 2010. And, at that time, I had a lot of friends trying to convince me that Zuck is a bad person, he stole Facebook from these poor guys.
Well, I actually understood what Zuck was trying to say. He’s reminding the Winklevoss’ of a simple step that many self-proclaimed gurus tend to overlook when it comes to the art of profiting from their guru ideas. Like I said, the step is very simple. It’s so simple, in fact, you might laugh at how simple it is, or that I even have to discuss it on a podcast. So, here it is. The act of coming up with or inventing ideas actually means nothing if you’re not actively spreading those ideas to the world. All these self-proclaimed gurus, let’s face it, we all know people like this.
They’re bitter souls who are either too lazy, or they have too much of an ego to do the real work. And their so-called brilliant ideas don’t get shared with the world. So, if you want to profit from your ideas, I think the very first step is to take a big drink of humility. I’ve been there. Understand the mere fact that having an idea doesn’t mean anything because, chances are, there’s at least one other person who’s hungrier than you, faster to act, more disciplined, more willing to win, and has the exact same idea swarming around their head. So, get off your invisible pedestal and admit that on the jump, I have.
Step number two is to actively share your ideas with the world. And when I say actively, I mean every single day. If someone is, say, a king or a queen, they don’t take the day off. No, they sit on their throne to remind the kingdom that they’re the king, or they’re the queen because the king or the queen knows as soon as he or she is gone, some other punk is gonna come on in, sit on the throne and declare themselves the king or the queen. Well, the same goes for your ideas. This is why I typically email and I post on social media daily. I want to be in front of my market so they always know that I’m here for them.
I want to remind them of my presence. So, let me wrap things up with an example that’s probably closer to your world. A couple of months back, I was having a conversation with a fairly big creator. I’m going to call her Sue, it’s not her real name. Anyway, Sue was expressing to me how upset she was because she got burnt out with social media, and she took, I think, about a three to six-month break from posting regularly. While she was away, another smaller creator not only tripled her following, she also stole, sort of speak, one of her ideas. You see, before Sue took a break, everyone associated Sue’s brand with a very particular productivity tip.
I’m just gonna call it something else or you’ll know who she is. Let’s just say it was called shower spray, it’s not that. If I told you to tip, we’d have kind of a raging war on social media. So, while she was gone, another creator — we’ll call this creator Sara — started posting every day about this particular productivity tip. And, as a result, Sara, not Sue, is known as the, insert unnamed productivity tip, gal. If I told you what the tip was, there’s a 99% chance you’d think of Sara and not Sue. Now, for the record, and it is a fact, Sarah did not have any bad intentions. She wasn’t there for Sue’s positioning.
I know both gals, I know neither of them have bad intentions. I just know that to be true. However, she started to show up every day and remind her audience of how useful this tip is. And, as a side effect of showing up every day, she built a unique position for herself in the market with that one productivity tip. So, it’s a hugely important point, I hope you really take this very seriously. One of the multiple reasons why I email my list daily, and I encourage all creators to, and why I post so frequently is because while you’re off getting a foot rub, or something, I get there in your audience’s inbox drawing them closer and closer and pulling them into my universe.
So, consider this lovingly sent to you, yet it’s a cautionary tale that it is time to spread your ideas daily. Daily. If you think you have the next Facebook, well, you better get building it because, if you’re just thinking about it, it’s not going to do anything for you. Got a big idea? Let’s hear it. Do me a favor, share the show. We’d love your five-star reviews, and make sure that you’ve subscribed. And I’ll see you next time here at Digital Marketing for Coaches & Consultants. Bye now.
