Here is how Maslow's message can bring you wealth.
Today's message is the second lesson in a business and investing course that shows why colonial property, nostalgia and old time values have extra appeal in this day and age. This knowledge can help you improve your business and investing. I have started a new business, http://www.blueridgecrafts.com and this course shares philosophies on business investing and marketing and we examine the businesses to understand how these philosophies have been incorporated at http://www.blueridgecrafts.com/. So this course is not theory, but shows how a business is actually using them now. If you have not read Lesson #1 go to https://www.garyascott.com/archives/2003/10/7/918/
Yesterday we saw how economic eras affect business and investing. Now let's see how the nature of humanity in each of these areas affects who buys what. The nature of our upcoming economy and social structure will be as different as the Information Era was from the Industrial Era. This is because each industrial era is impacted by human nature. The way we as individuals react and the way society reacts as a whole alters with each era. This human reactionary path was described by Abraham Maslow in his “Needs Hierarchy” which states that humans move through six steps in life if given a chance to progress.
The first step in Maslow's “Needs Hierarchy” is to take care of one's physical needs, the second is to gain security. After these two levels the third step focuses on social needs before progressing to the fourth step of acknowledgement and finally to self realization.
Years later Maslow stated that there is perhaps a sixth step he called idealization or the need to find a purpose beyond oneself. Let's put this into day-to-day economic terms. A person first makes sure he or she has food, clothing and shelter. If these needs are not fulfilled, not much else matters. If a person is freezing and starving, he is not too concerned what model car you are driving if you stop and offer a ride. If they are hungry enough, they won't complain about the social aspect social impact of food you offer.
Once the belly is full, the body warm and the larder filled, a person begins to think about how to protect food supply and how to stay warm. When warm, full and secure we start to think about how we look, how we get along with others and how we fit into our society and family.
Then we want to excel, to be special and acknowledged, in our society or family. When we convince others that we are special we become driven to convince ourselves of this fact.
Finally, if we prove ourselves to ourselves, we reach a sixth level of having needs that goes beyond ourselves. Our upcoming society will be dramatically affected by this hierarchy of nature plus seven other facts:
#1: Industrialized society has seen a six times increase in wealth in the last century.
#2: Yet most of even the incredibly rich are still not satisfied.
#3: Even more regrettable most of the world hasn't enjoyed this increase in wealth.
#4: Most of the world has become cynical. Few people have confidence in governments, big business, or even the church.
#5: Modern communications allows most of the world, rich and poor, to see the discrepancies between the rich and poor.
#6: This gap is leading to greater and greater turmoil, hatred and war. #7: Modern technology allows the poor to more effectively stress their dissatisfaction.
This is leading to three trends.
Trend #1: People are looking to older values. This is why nostalgia sells so well. Harley Davidson has seen a boom in sales and every town has a Golden Oldies radio station. You can see how I have reflected this in my marketing at http://www.blueridgecrafts.com/ Go to this site http://www.blueridgecrafts.com/ and look at the home page. Here is what it says:
"Indigo crests unfold in a lavender dawn that pales into the infinite
horizons of morn. Pink rays of sunrise slide over a fading Chestnut barn as
craftsmen toil wholesome in the sweet embrace of mountain air. The clean
fragrance of wildflower floats on crystal creeks tumbling down ancient
hollows and tasting fresh on the tongue.
"This is the Blue Ridge, where things are built to last. These mountains
are islands forgotten in America's mad rush south and west. This is the
most ancient land mass on earth and old time values still reign. Men and
women work in friendly, honest labor with wood and cloth using the
traditions of our ancestors amidst the timeless forest and stone. Our
privilege is to bring the Blue Ridge to you through time honored, handmade
creations of skilled mountain craftspeople. One of a kind toys, quilts,
paintings, accessories, picture frames, clothing and artwork, are each
individually crafted by proficient, skilled hands and brought to you
through the Blue Ridge! Timeless value, personal service and real care is
our heritage up here and we have not forgotten. We bring you these old time
traditions in a modern world where you are not forgotten. We proudly share
the stories of our ancestors and humbly offer their gifts from the past for
our lifetimes and generations ahead." There will be a shift of attitude
from our brain to heart."
Shifts in technology and the nature of man make us look at the past with rose colored glasses. This affects business, and alters buying patterns. See how in tomorrow's lesson as we learn why there will be a shift of attitude from our brain to heart and what this will mean to business.