A friend of mine is thinking about offering his exceptional cognitive abilities (= member of Mensa = higher IQ than 98 % of the population) on a "pay-per-advice" basis to anyone having a problem/question he or she just cannot make a decision or is clueless about.

1) What would you ask someone like him/her?
2) What would you be willing to pay for a single advice?
3) Do "services" like this already exist (not counting fortunetellers or suicide hotlines)

thx

Stock picks
That's about it.

Or sports betting

That market is blowing up with that revenue stream

Best corn dogs and TP? Message me!

If he's so damn smart, why doesnt he already know the answers to those questions?

25 minutes ago, AirborneAFOL said:

If he's so damn smart, why doesnt he already know the answers to those questions?

You don't know anything about him/her except what I wrote but you already "know" that he/she is "damn" smart?! Anyhow. Maybe because he/she cannot read others' minds? The question is, if people would generally be interested in getting to know the opinion of someone with (far) better cognitive abilities (meaning better problem analysis and solving skills overall) or if they just ask someone they know for instance. The problem might be (this thread might give an answer) that people "in need of good advice" are simply not aware that they do indeed need a good advice (because their own thinking leads to a bad or at least inferior solution); otherwise there wouldn't be so many bad decisions being made. Maybe it's all self-referential. Of course this also applies to Lego investing in a way, but that is not what this thead is about.

Edited May 25, 20178 yr by Frank Brickowski

You don't know anything about him/her except what I wrote but you already "know" that he/she is "damn" smart?! Anyhow. Maybe because he/she cannot read others' minds? The question is, if people would generally be interested in getting to know the opinion of someone with (far) better cognitive abilities (meaning better problem analysis and solving skills overall) or if they just ask someone they know for instance. The problem might be (this thread might give an answer) that people "in need of good advice" are simply not aware that they do indeed need a good advice (because their own thinking leads to a bad or at least inferior solution); otherwise there wouldn't be so many bad decisions being made. Maybe it's all self-referential. Of course this also applies to Lego investing in a way, but that is not what this thead is about.

I was joking, mate, no offense intended.

In all seriousness, no, not many people would likely pay for advice from someone highly intelligent. They pay for expertise (which is a combination of education and experience), because that's far more valuable & insightful.

7 minutes ago, AirborneAFOL said:

I was joking, mate, no offense intended.

In all seriousness, no, not many people would likely pay for advice from someone highly intelligent. They pay for expertise (which is a combination of education and experience), because that's far more valuable & insightful.

You're absolutely right for most questions regarding a certain "field" where experience is essential. That "service" in question that would be offered would hence relate to rather "personal" decisions. So yes, sports betting or stock picks could not really be the subject of such advice. Maybe it just wouldn't work at all, on the other hand people are calling "Astro Hotlines" (that's what it'c called in German) to get totally random "advice" (aka fortuntelling) all the time, so why not ask someone who can really say something substantial about it? Also, you have to pay for those hotline calls. Which means people DO have a need for others to answer certain questions they cannot make up their own minds about AND they are willing to pay.

How is this person going to handle the obvious liabilities that pop up when dispensing people with advice on important matters? That would be my main concern if I were to offer such a service.

does not really matter how smart he is. stuff like this is all in the marketing. the problems he will have as has been mentioned is that most "advice" givers need to be licensed or certified. financial planers, psychologists, doctors, even plumbers, builders and such.

 

the other issue he will have is most dumb people hate getting advice from intellectuals. they like people who seem to be on their level but have "magical" sources for answers.

 

if he is really smart there are much better ways to make money. if he just likes talking to people and giving advice then by all means give it a shot.

How is this person going to handle the obvious liabilities that pop up when dispensing people with advice on important matters? That would be my main concern if I were to offer such a service.

High intelligence does not equate to high wisdom. Unfortunately.
Smart people make really dumb mistakes all the time.

I'm sorry but "smart" people wouldn't hand someone cash to answer a question.

Google it.

The nice answer from Most is not a penny. If the person is so smart become an engineer/etc make money not draw a math problem in from of someone and ask for money.

I'm with @AirborneAFOL, people who need advice from someone smarter than they, rarely seek it.  People who want advice are generally seeking someone with special knowledge or experience in a particular area (if they are highly intelligent, all the better, but not a requirement).  Could I ask your friend which Lego to buy next?  I could, and he may even have some suggestions, but I doubt he would know better than I. Even if he had special knowledge... how much would the answer to that question be worth?  Maybe $5 or $10?  Then of course there are bigger questions that people wish they had the answers to: Should I push my boss harder for a raise?  Should I ask this woman to marry me?  Should I quit my job and open a business?  These types of questions have far too many factors for a third party to decide.  So in short - No. Not a viable business plan. You might make more money offering a "Magic 8-Ball" app where people pay $.10 for a random yes or no decision.

A consultant (from Latin: consultare "to deliberate") is a professional who provides expert advice^[1] in a particular area such as security (electronic or physical), management, education, accountancy, law, human resources, marketing (and public relations), finance, engineering, science or any of many other specialized fields.

You're asking the wrong people. We like are advice free and spelled out very clearly for us: DPCI #s, original RRPs, discounts calculated, links active and affiliated, and google directions for quick and easy pick up.

And that's just for the corn dogs. Don't get me started on Lego.

4 minutes ago, donbee said:

You're asking the wrong people. We like are advice free and spelled out very clearly for us: DPCI #s, original RRPs, discounts calculated, links active and affiliated, and google directions for quick and easy pick up  FREE DELIVERY.

Let me help you with that

Thinktanks have been in business a long time,

Lucy's been doing it for years...

 

He'd be better off using his intelligence to invest in LEGO. I hear it's better than gold.

I'm curious, was this actually your idea to capitalize on his genius, or his?

6 hours ago, donbee said:

I'm curious, was this actually your idea to capitalize on his genius, or his?

Or is this "he" actually you

http://www.newyorker.com/magazine/2005/12/05/everybodys-an-expert

or not... It's old, but worth a read.

If anyone is really interested in the subject, look up Daniel Kahneman, I’d recommend thinking, fast and slow.  
 

5 hours ago, feed said:

http://www.newyorker.com/magazine/2005/12/05/everybodys-an-expert

or not... It's old, but worth a read.

If anyone is really interested in the subject, look up Daniel Kahneman, I’d recommend thinking, fast and slow.  
 

The service in question is not about prediction but about decision-making - two rather different things.

The service in question is not about prediction but about decision-making - two rather different things.

So... he can't decide if he should start a business making decisions for other people. So he asked you, someone of significantly lower intellect (not saying you're dumb, just he's so smart) for advice on making this decision. Which I assume you're doing for free, since you're asking us for free advice to gauge the market for paid advice. If you're charging him for your advice, then you my friend, are the genius.

I really am not trying to give you a hard time, just trying to explain why so many people here are poking fun rather than contributing.

I'm interested in knowing what kinds of questions the guy would want to answer or is expecting people to ask. Relationship advice? Business advice?

And how would he respond?

6 hours ago, Jackson said:

I'm interested in knowing what kinds of questions the guy would want to answer or is expecting people to ask. Relationship advice? Business advice?

And how would he respond?

"1) What would you ask someone like him/her?"