How To Lead A Rich Life (Revised And Updated For A Poor Economy) (p. 72)

• Discuss your group's general happiness in this time of economic flux. Do people believe they are 'less happy' than they were 1999? What contributes to his, besides money?
• Andrew Oswald has spent 10 years trying to quantify happiness. Do people in your group believe this is a worthwhile endeavor? See if they'll participate in an exercise where they have to quantify the value of the five things in their life that make them the happiest (i.e. if you took one of these things away, how much money would it take for you reach that same plane of happiness?). Discuss the intangible ramifications of putting a dollar figure on emotional products (marriage, divorce). For succesful, business-oriented people, is there any concensus on what money can't buy?
• Keller and Berry say the 'Influentials' are struggling to differentiate between wealth and success. Pin down the voting, eating and buying habits of your group members as best you can. Take the most common answers and label these people 'Influentials.' Find out how they define money and success, and how they reconcile the two. What do other people in the group look for in success, and how do they compare to the Influentials?

Which Price Is Right? (p. 92)

• Not only is price structure tough to understand, as Charles Fishman found out, but it's also irritating to consumers to not understand what they are being charged for and why. Do a personal price analysis on cars, groceries and TVs. Have the people in your group compare what they pay now to what they paid ten years ago, 20 years ago. What industries have remained stable? Any analytical reasons why (cheaper parts, better trade agreements)? What products do you think have hit consumers the hardest in the wallet and why?
• Talk about what you think the perfect airfare to New York (or Chicago) 'should' cost. Then compare airfares of the last time people in your group flew to those places. What is the high/low range? Try to figure out what contributed to the different prices -- type of ticket, airline, when ticket was purchased, etc. Plot the results on graphs with price as one axis and the different variables as the other. See if you can pinpoint the who/what/when of the perfect time to buy that ticket. Discuss other bargain airfare tactics that users may have.

Would You Like A Mortgage With Your Mocha?

ING Direct is changing the way people do banking by adding a full cafe to their locations. There has been a rise of 'combo' businesses in recent years -- banks in supermarkets, Internet cafes, all-purpose oil change stations. Map out the chores that you are rushed to do in your free time (exercise, grocery shop, see friends, take kids to doctor, etc.) and look for potential 'combo' businesses you wouldn't mind seeing in the future. If possible, bring in a representative of the two (or more) industries you'd like to see co-exist in one location and discuss potential strategies with them at COF meeting.

Daniel Richards contributed this month's Next Steps.

March 2003 Connexus | Flash Points | Next Steps