Tag Archives: wealth

Youth Priorities

June 20, 2013 by

Back in my day, all the cool kids wore alligators on their shirts.

It was an essential indicator of class status. You simply had to have the little Izod Lacoste symbol. No other animal would do. Every kid knew they needed at least one “alligator shirt” to even be on the fringes of fashion acceptance. I remember kids saving their allowances just to have that one, precious shirt. And scoffing at anyone who wore a fake. Really.

The ’80s were all about wealth and status. What you had, what you owned, where you lived—it all defined pecking order in the Teendom. There was even a popular movie, Wall Street, where the main character’s key line was “Greed is good.”

It was so accepted back then, but I think many teens today would be horrified at how much emphasis society once placed on the accumulation of “stuff.” While there will always be some level of status related to wealth, today’s teens see things much differently than we once did.

For them, it’s all about experiences. Experiences they can talk about and share on their social networks.

Marketers know this. Archrival, based in Lincoln, is a leader in youth marketing. Their clients include Red Bull®, Zappos®, and Adidas®. When they build campaigns geared toward teens and young adults, they know that, to be successful, they need to create an opportunity for an experience—hopefully interactive, fun, and visual. And most importantly? Something the participant can share online.

This generation grew up with the entire world at their fingertips. In just a few clicks, they see what all of their friends are doing, but they also learn about the needs in their communities. They can download an app that lets them donate $5 to help hungry children in another part of the world. You will not find a more hard-working group of volunteers than a group of young adults passionate about a cause. Many are introduced to volunteer work through community service requirements, where they can develop a lifelong interest in philanthropy—in time, talent, and finances.

Many young people want to do things that make a difference, especially in helping others. They want to be part of the solution. They want to share pictures and talk about it on their social networks. And, quite frankly, it benefits their online identity, which is extremely important to this group—especially those aware that college recruiters and employers will be looking at their profiles.

It’s easy for parents to forget how committed their children can be. But it can change how we connect with our teens. My own teen expert, my 15-year-old son, agrees. “People want to have interesting stuff to share online,” he says. “That’s what they want to spend their money on, too.” Yeah, it’s nice to have the branded shirt, but it’s also okay to shop at the thrift store if it means more money to spend toward a great trip or even just a fun night out with friends.

Good parenting information to have tucked away if you are trying to “market” something to your teen. Sell them on the experience and the great photos they can share on their Facebook, Twitter, or Reddit accounts. And hey, maybe they’ll let you come along, too.

Is Our Liberty to Succeed or Fail in Jeopardy?

May 25, 2013 by

It’s an issue that affects small businesses—the push for more and more sharing with others who don’t have as much as you do. This trend can be seen in many business practices, too. For example, the sales commission question below:

“Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety.” This Benjamin Franklin quote, with its many derivations, points toward a simple fact that, for one to expect a government to guarantee something, a part of one’s liberty will be the price.

The questions is: How much of your liberty will you gladly trade for an increased level of governmental protection? In other words, is it the responsibility of government to feed you, house you, educate you, care for you, etc…if you are sick, unwilling, or incapable?

Most of us feel that it is the obligation of government to provide us with some of these needs and desires. Others feel that government should do that and much more.

This is the age-old contest between those rowing the boat and those along for the ride. The sales adage says 80 percent of the sales are made by 20 percent of the sales force. In school, grades tend to follow a bell curve with a few students getting excellent marks while most are average, and a few bring up the rear. Should the sales staff getting 80 percent of the sales get the same commission as the rest of the team? Should the top students share their grades with those less fortunate, thus everyone getting a grade of C? What level of “sharing” do you consider fair?

What if you were a doctor who endured many years of school with considerable effort and expense? Economic justice would dictate that the doctor’s earnings be shared with those who were not capable, for whatever reason—even laziness—to achieve the same degree of earning capability. Would you be willing to have the government decide how much of a doctor’s income gets redistributed? If so, what incentive would current medical students (or anyone considering entering into a lengthy and expensive effort) have to continue becoming a doctor only to have their efforts taken away?

To the consternation of so many, life isn’t fair. Is it the role of government to make life fair? This exact precept was explored throughout the 20th century. The direct result of these experiments offered two class societies: the ruling elite and everyone else. Sadly, the ‘everyone else’ class was considered expendable by those ruling. China squandered the lives of over 60 million in an effort to purchase world power status. The average Chinese existed and died on a daily caloric intake smaller than that of the slaves of Auschwitz. Russia bartered the lives of their bread basket Kulaks by the millions in exchange for the materials of industrialization. No, the only way a government can enforce equality is by reducing the living standard of the ‘everyone else’ class.

As America celebrates the 4th of July, a time for quiet contemplation of the uniqueness of this American experiment is due. All throughout history, tyranny is the norm. The liberty Americans have is truly unique. The thread that holds this together is the Constitution. I contend that the freedoms across the globe are there only so long as Americans remain free. Free to succeed, free to fail, free to risk their all in the pursuit of personal happiness. If Americans lose that desire for liberty, the rest of the world will lose as well.

Any views and/or opinions present in “The Know-It-All” columns are solely those of the author and do not necessarily represent those of B2B Omaha Magazine or their parent company and/or their affiliates.