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  • February 24, 2015
  • By Sean
  • Comments Off on Chemical engineer turned neuroscientist left Corporate America management and sold multiple businesses | Roger Dooley
  • in Hidden Profit Path Podcasts, Roger Dooley

Chemical engineer turned neuroscientist left Corporate America management and sold multiple businesses | Roger Dooley

Roger Dooley

Chemical engineer turned neuroscientist left Corporate America management and sold multiple businesses, even one he calls a mistake


Roger Dooley

Listen-Podcast-Here

Most Popular to Share on Google+ and LinkedIN:

1)

On business partners

"Keep your eye on the ball and your interests because occasionally I preserved a situation longer than I should have simply because it was convenient or the money was okay.”
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2)

Biggest mistake

"Assuming that because you're successful in one domain that that will directly translate into success in another field. The good part of the story is that we did do a successful magazine. The mistake was thinking that because we knew something about direct marketing of computer products that we could turn that into the successful direct marketing of a magazine. We spent a lot of money that probably wasn't productive.”
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3)

Contrarian

"Conventional wisdom says if you're building a website you need to monetize it from the get-go and make sure you have a business there. With a few of my successful websites we actually waited quite a while to monetize.”
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4)

Harmful conventional wisdom

"Believing that there are best practices for most things. Business owners are looking for that 'best way'. You can't always assume there is a best way.”
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Why Listen to Roger Dooley:

In the audio, Roger shares:

-- The biggest mistake in thinking entrepreneurs make after being successful

-- Why intelligence doesn't always lead to successful strategy and the pitfall to be wary of

-- One industry where waiting to monetize makes the most sense

-- An example where giving away 10,000 physical products led to a massively successful business and earned media

Roger Dooley is an author, international keynote speaker, and consultant.  His recent book is Brainfluence: 100 Ways to Persuade and Convince Consumers with Neuromarketing  (Wiley), and he writes the popular blog Neuromarketing as well as Brainy Marketing at Forbes.com.  He is the founder of Dooley Direct, a marketing consultancy, and co-founded College Confidential, the leading college-bound website.  The latter business was acquired by Hobsons, a unit of UK-based DMGT, where Dooley served as VP Digital Marketing and continues in a consulting role.

He got his degree in chemical engineering not Neuroscience.

Like the roughly 83% of people with college degrees, Roger does not use his field of study in his current occupation. He minored in psychology and always had a fascination for it.

Early, he first pursued a normal engineering career and worked his way up to product management and project management. His corporate career finally took off when he reached a senior strategy position in a Fortune 1,000 company. At that point, he decided to chuck it all and start his own entrepreneurial journey.

He and a business partner started a business at the very early stages of the computer industry selling aftermarket software and hardware.

Some Shareables from Roger in this episode…

If he started over

"If I could go back to my origin in business I'd probably start in digital marketing sooner. We got our start in the paper catalog business. This was pre-Internet. Early on, I would have bought a bunch of really cool domains. Cars.com and some of the other really cool ones were already taken. But there were still a lot out there that today we'd look at as being very valuable."

On business partners

"Keep your eye on the ball and your interests because occasionally I preserved a situation longer than I should have simply because it was convenient or the money was okay. Inevitably, once you realize this isn't what you want to be doing or it's not the direction you want to be heading in for the next five years, you make a clean break. Start in a preferred direction because you'll be a lot better off for it."

Biggest mistake

"Assuming that because you're successful in one domain that that will directly translate into success in another field. In the home computer market in the early days, the best monetized in that space were the publications. We wanted to enter this market but instead of starting off with a catalog we started with a magazine. This was 1986 and our target market was home automation.

The good part of the story is that we did do a successful magazine. It is still being published today and is the biggest in that space. The mistake was thinking that because we knew something about direct marketing of computer products that we could turn that into the successful direct marketing of a magazine. We spent a lot of money that probably wasn't productive.”

Favorite part of entrepreneur's journey

"The most rewarding part is seeing how my businesses have helped other people achieve their goals. One of my earlier businesses remains the busiest website for college bound students and their parents. Every year I get such great feedback about how the student got into their dream school because of information from the website."

Weirdest thing

"It was in the final days of Commodore computers. They had been the preeminent maker of home computers but had run into some difficulties. The Commodore CEO was a small gentleman whose desk was on a raised level in this enormous room. We were seated on the couch where we sank down to being about 2 inches off the floor. It was like something out of the book ‘Winning Through Intimidation'.

He immediately started in with a hostile interrogation to establish dominance in case the surroundings didn't do it. He was trying to get us to buy a bunch of his computers but there were no monitors available for them so we couldn't buy them. The surreal part was the VP of technology had to explain to the CEO that you can't use a computer without a monitor."

Contrarian

"Conventional wisdom says if you're building a website you need to monetize it from the get-go and make sure you have a business there. With a few of my successful websites we actually waited quite a while to monetize... particularly with the college-bound website. It ended up growing and growing until it was a major force in the industry. You have to pick your own path."

Harmful conventional wisdom

"Believing that there are best practices for most things. Business owners are looking for that 'best way'. You can't always assume that to be true. Just because really short sales copy worked for somebody else in your industry doesn't mean it'll work for you. What color button do you want for your call to action? For a while it seemed orange was the best color. Further research showed that orange doesn't always convert better than other colors. Really what it's more about is contrast with the rest of the website."

Learn more about Roger Dooley:

RogerDooley.com -- here you'll find links to his neuromarketing blog, his Forbes blog, his brainfluence podcast and upcoming speaking gigs

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