Fun with comparison studies. This is a great process. It's an organized way of getting the right product with the right value at the right price. In other words, getting more bang for your buck. As Louis Pasteur said, Fortune favors the prepared mind. Consumer Reports is a great magazine, especially if you're doing a comparison study for large ticket items.

I've used it on several occasions, and it's been extremely helpful, at least to narrow the search. Then you can refine the search and select exactly what you want. Creating your own comparison studies. There's two primary components, the subjective components, which is right brain usage, personal feelings, emotions and intuition. There's also the objective components left brain usage, definitive, measurable and scientific using facts and data. Also, there's a rule of thumb, the decision importance should equal the time invested.

Researching for a cell phone should not be as much time as researching for a car. Let's get started. Step one, limit your search. There's selection criteria, price, quality and reliability, and usefulness. For example, if you're looking at a large ticket item like a car, there's trucks, fans, sports cars, family cars, and so forth. You probably know what type of car you're going to be getting.

That's limiting your search. Also, price. A Porsche is going to be a lot more expensive than a Volkswagen. Investigate. This is utilizing the internet books, magazines, Consumer Reports like we talked about. Experts are Great resource as well.

Review the weighing factors. This is the relative importance, the ranking of each factor in the comparison study. If price is extremely important to you that that would have a very high weighting factor. quality and reliability are usually very high and relative importance as well. For some people, the name brand company is very important. For example, there's a lot of people that won't buy anything but Apple products for their cell phone, their computer and so forth.

Narrow your search utilizing the 8020 rule. Let's go back to the car example. Once you've done your investigation, now you narrow the number of cars that you would be looking at to only a handful. That is utilizing the 8020 rule. Getting the most bang for the buck. Make your final selection.

You've done all your homework, you've done your investigation, you put your feelings and emotions in there, and so forth, and it's time to make that final selection. Next, determine where you will make your purchase. Sometimes it makes sense to purchase it online, sometimes at a bricks and mortar. Review your lessons learned. This is very important as we've talked about before. After you've had your product for a little while.

Are you very happy with it? Are you unhappy with certain things about the product? What did you do right during the comparison study? What did you do wrong? This will help you in any type of future comparison studies. Thanks for watching.