Information Marketing Delusional Thinking
I grew up in the Philippines and went to high school there. For some reason we seem to have a lot of reunions. More than any other group of people I’ve ever seen. I like this and it’s a lot of fun. Recently, I got an email from someone who was setting up a reunion here in Vegas. Some of his comments reminded me of how some information marketing folks think.
He was asking me about my audio equipment. Since I do a lot of seminars here in Las Vegas I have a bunch of equipment that I own and keep here. My audio (and video) equipment is easily capable of working with groups of up to 500 people.
Given that most of the reunion groups I’ve worked with are always trying to SAVE money, I volunteered to let them use my equipment. After a few back and forth emails, it became clear that the person I was dealing with was WAY too optimistic in terms of his registration projections. He told me that they needed equipment that was capable of amplifying sound for a group of 750.
Given that the BIGGEST reunion my school had ever had was 650 people, I was perplexed.
Information marketers do this kind of stuff all the time. They make unrealistic projections about sales, registration and a large host of other things. I like to call this DELUSIONAL THINKING. Optimism is quite another thing. With optimism, your chances of achieving your results are POSSIBLE. Delusional thinking is where people conjure up numbers that are impossible.
This kind of thinking can hurt you in numerous ways!
1. Your preparation and planning will result in spending money that makes NO sense.
2. Partners in your venture will be disappointed.
3. You will be less apt to go ahead with future ventures.
So if you’re with me that delusional thinking isn’t a good thing, then what to do?
I suggest that you use RATIONAL THINKING when making projections and decisions. Sure, I’d love to have 750 people show up for one of my events. But, until my book is out and on the New York Times best seller list for a few months straight, it probably won’t happen.
I just checked the reunion website for the situation I alluded to earlier. They are about 6 weeks away from the event. They have a list of people who are “definitely attending.” That list now has 26 people confirmed. A tad less than the 750 people projected.
THIS is DELUSIONAL thinking. You need to look at past events to determine future results. Sure, there may be some differences, but keep yourself in the ballpark with RATIONAL thinking.
This holds true with virtually anything in the area of info products.