Your One Word by Evan Carmichael – The Powerful Secret to Creating a Business and Life that Matter
In this video, we will be reviewing Your One Word by Evan Carmichael. I’ll teach you how you can increase your success by finding a single word that describes yourself and I’ll find mine in the process, there’s also a ton of technical tips on building a brand and business in here, I hope you guys enjoy this video and learn something from it!
Your One Word describes who you are, what you want, and how you are going to grow yourself and your business.
Evan breaks up this book into three main parts, Core, Campaign and Company, and uses each chapter to help you find, use, and keep your one word for many reasons. I think the most important thing about your one word is that it helps keep your true north, what you really want in life during the difficult times. Martin Luther King Jr’s word was Equality, Oprah’s, is Heart, and Steve Job’s was Impact.
Basically, the Core chapter explains why it is so important to have a single word to describe yourself and how to find it through some simple exercises. It helps you evaluate your life, your character, and who you want to be in one word.
3 Ways to Sell a Product
Something I found helpful in this chapter is that he describes three types of selling. You can sell using a feature; this is when you sell a product marketing it by what features it has. For example, if you’re selling a lightbulb, you might claim it will last over 50 years and cost less than $5/year to power. These are independent features of the product or service. The second form of selling is Benefit Selling, when you market a product or service to how it will help the buyer. For example, you could say your lightbulb will never have to be replaced, and this sells emotionally and practically to the customer who is buying it. The third, however, Evan says is the most important and it is Core selling. It’s selling with your one word in mind. Core selling would be selling your lightbulb by showing how buying it would change the world. Maybe you will reduce total waste on the earth, or reduce energy consumption in a way that is very eco-friendly. Steve Jobs said in an interview that it wasn’t his first million, his first 10 million, it wasn’t even when he hit 100 million dollars that he felt like he was done, he said he wanted to change the world. The same with Elon Musk, when he started Tesla, he was pretty sure the company would fail and go out of business, he just wanted to change how people saw electric cars. Now look at both companies!
Just like money, your one word is a tool, and the outcome of the use of it is all up to the user of the tool.
Another part of the Core section explains why a single word is so important. It’s important because clarity leads to conviction. Let me explain.
If you have a single word that describes what you want to accomplish in your life, you can simply pass every decision through it and ask yourself “is this supporting or failing my one word”? So it helps you make better decisions, and faster too! It keeps your eye on the long game. It can also help you stay motivated. If you know you are in it to change the world, relying on your One Word should motivate you.
So, how can we find our one word. Evan offers 5 questions.
How to Find your One Word
- What makes you happy?
- What connects your happiness?
- What traits do you hate?
- What’s your constant?
- Is this really who you are?
He asks you to write down a huge list of things that make you happy, and to really think about it. To save you some time, I’ll skip to the next question, which is to find what connects all these things. For me, it is understanding. Understanding stuff helps make me happy, along with learning and teaching. The answer to the third question for me, is ignorance, I hate it when people don’t know stuff, or don’t have the access to further their education; ESPECIALLY when they have the drive and want to. Find out what traits you hate, and find the opposite.
The second part of the equation is Campaign. So this chapter is filled with tons of examples of how people have used their one word in the past to create a successful business in the past. I love historical examples and the research Evan did is outstanding. There are some technical and practical stuff in there I’d love to teach you about though.
One thing I resonated with is not to overthink or overspend on a logo. I spent 30 minutes designing the Practical Psychology logo and spent $25 for a designer to create it professionally. The logo isn’t as important as what the logo stands for, or well, what you make it stand for.
There are a couple more tips the author gives on creating a successful campaign.
Best Psychological Business Startup Tips
- Name your tribe. Give your audience a name, to make them feel special and connected. The Hunger Game fans call themselves tributes. The same with Evan’s audience, they are #BelieveNation. I tried branding my audience as Practitioners, but I’m not too sure. Charisma on Command is trying to brand his audience, and he even joked in a video calling his fans COCfighters. Just think of Logang and Jake Paulers.
- Use Rituals and Gestures. Evan uses the famous story of Corona and how they used lime wedges to brand their product. Another example of a ritual is toothpastes. Toothpaste used to never have a flavor, can you imagine that? Nobody wanted to use it; until they added citric acid, which added a sparkly clean feeling to the user after they brushed. Sales went through the roof. Also think of how Jake Paul always dabs on his haters or something like that. I only know because my little brother does this, don’t judge.
- Logos, Fonts, and Symbols. Use a combination of similar logos, fonts and symbols to brand your content to your audience. There are many psychological reasons to think deeply about these things and how it will boost overall performance; I may make a video about this later.
- Colors. Colors are important. They have meaning.
- Red means Danger, passion, love, boldness. Examples are Youtube and Rolling Stones
- Black means power and elegance. Examples are Nike and Apple
- Blue is Dependability, intelligence and wisdom. Examples are Facebook and Practical Psychology. Yeah, I did do that on purpose!
- Orange is happiness and creativity. Examples are Firefox and Nickelodeon.
- Green is Growth and nature. Examples are John Deere and Starbucks.
- Purple is royalty and luxury. Examples are Barbie and Cadbury.
- Yellow is joy and happiness. Examples are Ferrari and National Geographic, but Evan also included Ikea for some reason.
- Sounds. Think of how my early videos have that famous background music, and how I’m starting to use them again. Remember the Window’s loading sound, or the Intel Inside commercial? Evan’s videos always have a sonic boom type thing. One of my favorite Youtubers starts off his videos by saying “Good Day Subscribers”.
The last part of the book is Company. Evan talks a lot about building the proper culture and environment of a company that boasts your one word. He gives tips on how to hire people in your business, and how to fire people in your business (even if you like them). Another trick he mentions is to give a name to your employees; for example, Starbucks employees are called baristas. He also gives some tips how to get more funds and raising capital from venture investors. My last tip of this book is when you are pitching to a potential investor, you have to know that you are not just pitching your idea or business. You are actually pitching yourself, the investor isn’t just investing in your business, they are investing in you, and they know the difference between a good executor and a bad executor, both with a great idea, can cost millions of dollars.
I hope you guys enjoyed this book review, if you’re interested in the book, check out the Amazon link below. If you’re interested in listening to this book for free, check out the link below for a free trial at Audible. Leave a comment of what you think your one word is and thanks so much for watching!