At the Mercy of Gurus—or In Control of your Online Income?

Our inner psychology tells us to be obedient to authority figures, even when obeying leads to our own downfall. Ignore them, be creative, and find new, high-value markets where you can tap into the new gold rush.


The Power of Authority

Our faith in authority figures leads to our falling into money traps. Studies have shown we are strongly inclined to follow the instructions of someone who looks like an expert. We will even substitute our judgement for those with the symbols of authority. Research into obedience to authority shows that we underestimate the extent to which the appearance of authority will influence us. (Social Psychology, 1999).

While the old scientific tests were mainly done with people in doctor’s coats, this influence also applies to political leaders, financial experts, or any authority figure, even celebrities with no financial standing. Do the gurus of internet marketing also come to mind?

So what can we do about it? How do we detach ourselves from this strong influence and work to our own goals?  One way, that I mentioned in my book How to Control Your Financial Destiny, is to forget the herd’s sentiment and make your own decisions contrary to the crowd.

Contrary investing means you would invest when people are most fearful of investing (and thus get the lower prices), and withdraw and seek other markets when the herd is caught up in buying frenzy.

Contrary marketing would thus mean you are creating some unusual types of content, or using unusual mediums, that enriches the lives of others. I write about niche marketing for authors on here a lot.

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The Introvert’s Guide to Marketing for Authors

In this golden age of the personal publisher, introverts must play to their strengths. If you’ve ever read the book ‘Quiet: the power of introverts in a world that can’t stop talking’, then you’ll understand exactly what I’m saying. We introverts need to speak up, but in our own quiet way.

Are you good at asking questions, but self-conscious about video?  Then try Podcasting.

Podcast to a Larger Presence

Podcasting is the ‘slow burn’ way to attract a fan base. You own the podcast, so you also own the advertising that can be infused in a short grab inside the show.

Keep in mind that shows seem better with two people, so invite a specialist you know to talk about a topic within your new genre range.

To determine which category your tribe might seek, see Blogtalkradio.com (the live talk radio and podcast platform) and iTunes categories for category ideas.

If you have a WordPress or Blogger site, then it’s a six-step process to get your RSS feed (linking the files) to connect to Apple iTunes. First you’ll need to find a place to host your podcasts and apply post tags, categories, etc. Apple Podcasts Connect has a podcasting guide and best practices.

You’ll also need a good quality USB microphone (e.g. Nessie Blue), come up with a Podcast logo – which you can make on Canva for free – and plan how often you’ll produce an episode. It’s best to plan ahead a few podcast shows, and launch the first three all at once.

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