Profiting From Experience

Our parents and grandparents told us (usually after we got into some kind of trouble) that experience is the best teacher. Assuming one actually learns from his or her experiences—or is wise enough to take a lesson from someone else's experience—the old proverb is true. Today, however, like most of us, good old Experience has a lot more responsibility. It's not enough just to be a teacher; experience has to be a top-notch salesperson as well. Much has been said recently about how consumers no longer shop just for the goods, they shop for the experience of shopping for the goods. B. Joseph Pine, one of the authors of The Experience Economy, summed it up neatly in the book's first chapter: "While commodities are fungible, goods tangible, and services intangible, experiences are memorable." Or, as comedian Jerry Seinfeld says about senior citizens and early-bird dinner specials, "Th

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