Business effects part 1 – IKEA [episode 67]

May 14, 2024

header graphic Business effects part 1 - IKEA [episode 67]

Listen to Business effects part 1 – IKEA on: Apple Podcasts | Spotify | Google Podcasts 

Today’s episode is part one of a four-part series looking at successful businesses and how we can implement their techniques into our own strategies. Today I cover “The IKEA effect” that’s rooted in psychology. This effect suggests that people feel a sense of pride and achievement from successfully completing the assembly of a product leading them to value the end product more highly than if they had not put any effort into its creation.

In this episode, Business effects part 1 – IKEA, I cover:

  • Three different categories + examples of ways you can implement The IKEA effect into your business
  • How to make your customers feel like a shareholder in your product or brand
  • How this strengthens your customers’ connection and loyalty

Hello, and welcome back to another episode. This is part one of a four part series looking at successful businesses and the techniques that they have used to become successful, and learning how we can apply that into our businesses. So today, I’m gonna dive into IKEA and the IKEA effect.
But before I do that, I wanna remind you that tickets for the Profit Maven Summit are for sale. There are only 100 tickets available, and a lot of those have already been claimed. So if you want to come and experience an in-person event like no other happening on October 2nd and 3rd, grab your ticket now.
It’ll be linked down in the show notes. Now, I want to walk you through a few people that I have been able to meet because of in-person events, and how they’ve been able to impact my business and the different opportunities that I’ve been able to have because of in-person events, and the people that I’ve been able to meet at these in-person events. So the first person, and this is not an all-inclusive list.
These are just a few that I wrote down really quickly before I recorded this episode. So there’s a bunch more people that I’ve been able to connect with that have been absolutely amazing, but one of the people is Dan Clark. Now, Dan Clark is one of the top 10 most motivational speakers in the world.
He’s spoken to over 4 million people on six different continents, and he is absolutely amazing. And guess what? I have his phone number, because I took the time to go to an in-person event, and I actually had the opportunity to speak on stage with him, but I spent the time networking with him after he was done, and just getting to know him, and he gave me his phone number, and he’s helping me to improve my speaking skills.
And yes, he is one of the top 10 most motivational speakers in the world, and I have his phone number, and it’s just one of those kind of awestruck moments where you’re like, oh my gosh, I can’t believe this is happening. It would have never, ever happened if I had not attended that in-person event. And so that is one of the people.

Now the other person is Ellen Yin. So she is the Cubicle to CEO host. So that’s her podcast, but she is also the owner of Cubicle to CEO.
And I was on her podcast as well as featured in her email. Her podcast has over, I think it has over a million downloads and her email subscriber list, I think she has over 30,000 email subscribers. And so that was a huge opportunity for my business to be able to reach more people through her podcast.
And I’ve also had other opportunities with her and because of her and the connections that I’ve had with her and I was able to meet her at an in-person event as well. And the other person that came to my mind before I hopped on this episode was Chrissy Chin. And so I was able to speak in her community on her podcast and I was even mentioned in her book.

I even had the opportunity to write, I think it’s called like a foreword, but like, you know when you turn the like cover of the book over and there’s a whole bunch of different people that give like, kind of like not necessarily reviews on the book, but also reviews on the book. I was able to be one of those people for her book, which is really, really cool. So those are just four of the people that came to my mind, very top of my mind as I was writing out who I have been able to meet because of in-person events.
And again, the list could go on and on and on. I have several people that I’ve met at in-person events that I have been able to bring on to this podcast. So many different opportunities because of in-person events.

[see apple podcast for continuation of transcript of episode]

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