REMEMBER the RULE: 98% of all buys are made emotionally and vindicated logically!
The fact is that sometimes the higher the price the more emotional the decision is because much more is at stake! But not 1 in a 1000 will ever admit it. Our market for used, OP and rare books is the 98% of the people who make decisions emotionally. We don’t worry about the other 2%. The likelihood is much more in our favor.
To prove all this to yourself, begin noticing your own buying habits. Notice your feelings as you begin making a purchase decision of any kind.
Even as mundane a thing as window cleaner is, I find myself reading the labels and examining the look and ‘feel’ of the container it’s in. A feeling like, “this one is better” comes over me. Something I read or experienced made me desire that specific one. Most of the time I do not even consider it. I merely go on to buy it. My conclusion is altogether supported by what I felt I desired. My rational justification for the buy I made works something like this: This is a window cleanser that works extraordinary (how do I know that?) and works better (how do I know that, also?), so I can forget the job I detest, and go do something other that’s more entertaining.
Investors and traders in stocks and commodities are infamous for making determinations that come to 1000s or 100s of thousands of bucks supported by small-scale, emotionally charged and unauthentic information! Book collectors do the same thing.
It’s amazing to me that individual investors would take ten, fifteen or hundreds of thousands of dollars in stocks based on a cursory knowledge of those companies operations, management capability, strategy for gaining market share, marketing plans or any number of factors that affect the company’s long term potential.
I have contacted many investors who’d investigate every conceivable way to save 30 cents on their favorite brand of biscuits at the local grocery store and buy 50 thousand dollars worth of stock in a company supported by a individual bullish news article! Even those investors I knew that would never dream of entering into a business deal without the proper due diligence would buy thousands of dollars worth of stocks on tips, rumors and broker recommendations alone!
Got the idea? This section is so important that if there is anything you didn’t understand the first time through, please read it again. The bottom line is this: People buy things because they w-a-n-t them. Not since they require them!
© 2010, Work At Home Covert Opps!. All rights reserved.
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