Why we are so susceptible to buying into the promise of get rich quick.

In Jason Zweig’s book, Your Money and Your Brain , he writes: “Your investing brain comes equipped with a biological mechanism that is more aroused when you anticipate a profit than when you actually get one”.

I think he is right. And I think this applies to all aspects of our lives.

As solopreneurs we are often more excited on the day we pick up a big new client or project than we are on the day we receive the check for the work.

It is the anticipation that gets us excited.

Marketers who are trying to sell you their latest get rich quick scheme understand this.

This is why they tell stories about how they were dead broke until they discovered some amazing, secret system. And now they live in a mansion and drive a Porsche.

As readers we are susceptible to those stories, because our brains get all fired up in anticipation of the same story playing out in our own lives. We imagine how wonderful it would be. We picture our perfect future lives.

No wonder so many people who buy these packages and systems never even open the box of materials when it arrives. They didn’t pay for the system itself, they paid for the high they got from anticipating a better life.

If Jason Zweig is correct, then we have to remain constantly vigilant. A part of our brain is working against us.

If we get such a high out of the anticipation of profit, then our judgement in many areas of business can adversely influenced.

We’re in danger of making bad choices, time and time again.

But if you remain aware of this hard-wired weakness, you can avoid becoming addicted to these multiple, transitory highs, and focus instead on your longer-term goals.

It is the solo professionals who stay tightly focused on their long-term goals who actually end up with the mansions and Porsches.

Comments

[Freelance Copywriter Richard Pelletier]

Hi Nick,
You are onto something. Used to be that scientists thought dopamine in the brain was triggered by reward. Turns out dpamine is triggered by, guess what, anticipation of reward. Anticipation sends dopamine levels through the roof. In testing situations, using animals (hate that) it was determined that even getting the reward only 50% of the time sent the D levels sky high. Your argument is spot on.
Cheers, Nick
Richard

[François Hubert]

I knew you had a Porsche!

[Phil]

Yes, that's insightful. Anticipation is often the best part of any experience.

It's fair to say that "Get Rich Quick" pitches deliver what the buyer really wants, a quick psychological high.

It's also fair to say that "Get Rich Quick" pitches are an assault upon fellow vendors in the net business industry.

To a significant degree, the whole industry has been branded as an untrustworthy cheapo gimmick based enterprise by these get rich quick promotions.

But the industry does seem to be maturing, the tide slowly turning.

It's entertaining to observe some of those who led the Get Rich Quick fad now trying to reposition themselves as pioneers of integrity.

[Michel Fortin]

Beautifully said.

Problem is, questionable markerters know this all too well, unfortunately, and use it in an abusive or predatory way.

What better time is there to sell the "high" than when we're hit with a recession? When jobs and opportunities and clients are scarcer, and people are vulnerable, depressed, and looking for a little "pick me up."

The drug analogy is perfect.

And the final paragraph is dead on.