Business Ideas Archives - Page 36 of 73

The best source of info for starting a successful newsletter

February 21, 2024 by John Bejakovic

I checked just now. I first wrote about Alex Lieberman in this newsletter back in June 2020. Here are the first three sentences of what I wrote then:

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In 2015, Alex Lieberman started sending a daily email to 45 friends and classmates at the University of Michigan. Each email was empty except for a PDF attachment. The PDF was made from an ugly Word doc template, and contained a fun-to-read summary of the top business news for that day.

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That email described the beginnings of Morning Brew, a daily email newsletter about business news.

By June 2020, Alex had managed to grow Morning Brew to about $20 million a year in ad revenue.

Later in 2020, Alex sold a controlling stake in Morning Brew for $75 million.

After finding out about Alex Lieberman and how successful he had mad Morning Brew, I got kind of obsessed.

I’d long been interested in running a magazine-like email newsletter. And here was somebody doing it, and making millions off it.

So when I found out that Alex Lieberman was actually hosting a course, all about how to create a successful Morning Brew-like newsletter, I jumped on it.

The course was called Newsletter XP.

It was hosted and presented by Alex and Tyler Denk, who was employee #2 at Morning Brew and who is now the CEO of Beehiiv.

As you might know, Beehiiv is the email service platform that makes it easy to create a Morning Brew-like newsletter, and that’s currently used by newsletter successes like Milk Road (the biggest crypto newsletter)… the Rundown (the biggest AI newsletter)… and Arnold’s PUMP CLUB (the Gubernator’s personal newsletter).

Point being, Alex and Tyler have strong credentials for talking about newsletter success.

And inside Newsletter XP, they do so. They tell you how to create a newsletter if you want to succeed, and perhaps more importantly, how not to create a newsletter if you want to succeed.

Because there have been thousands or tens of thousands of newsletters launched over the past few years. But only a small fraction have become real businesses.

The secrets of the successful are within Newsletter XP.

The course doesn’t only feature Alex and Tyler.

It’s also got Codie Sanchez of Contrarian Thinking (8-figure business, wrote about her a couple days ago)… Max Tcheyan of Puck News (40k paid subscribers at $16/month, $70 million valuation)… Kendall Baker (Axios Sports, ~500k subscribers)… and a bunch more people who have been behind the biggest newsletter success stories, totaling hundreds of millions of dollars in value.

I first wrote to the people at Beehiiv last summer, and asked to promote Newsletter XP then.

I didn’t hear back anything.

I wrote again. Still nothing.

But I was not deterred.

I kept following up.

Eventually they agreed.

The hook was in! Now that they agreed to let me promote Newsletter XP, I asked to have a discount over the regular price. Because why else would anybody buy now?

Since they had already agreed to let me promote, they agreed to the discount as well. Commitment and consistency for the win.

So starting tomorrow, and ending Monday, Feb 25, at 12 midnight PST, I will be promoting Newsletter XP, at a substantial discount over what it sells for normally.

If you are interested in starting a big-success newsletter, you will want to read my emails starting tomorrow.

And if you’re not interested, you still might want to read my emails, because I will be sharing and teasing the best stuff I personally got this star-studded training.

The anti-subscription high-ticket community

February 19, 2024 by John Bejakovic

I’ve recently noticed an interesting new pricing model. As an example, take Codie Sanchez’s Contrarian Community.

As you might know, Codie is an ex-private-equity, Goldman Sachs woman. She quit the corporate world and started using her PE background to buy boring, cash-flow businesses. Laundromats, RV parks, and the like.

Codie also started an info publishing business, Contrarian Thinking, teaching players with money to do the same as she’s doing.

Codie writes a free Contrarian Thinking newsletter, in which she gets her audience of 200,000 readers hyped up on the opportunity of buying boring businesses.

And once they get hyped up enough, she sells them training teaching them how to actually buy a boring businesses, plus ongoing support and networking, inside what she calls Contrarian Community.

So far, so standard.

The part that got me is that Codie doesn’t charge for access to Contrarian Community monthly. She doesn’t charge for it yearly either. Instead, she charges a one-time fixed fee of $10k. And she’s built a 8-figure business out of Contrarian Thinking this way.

I’ve noticed this pricing model in a few other successful info publishing and coaching businesses recently. At first, this had me surprised — because I’ve been trained to think continuity offers are where it’s at.

But a one-time, large fixed ticket to join a community makes a lot of sense. It means:

1. More money per member, today instead of tomorrow.

2. Better quality of member.

3. Better results for members, and therefore easier sales down the line, and a more attractive offer.

4. A better community. Rather than people constantly churning, there’s stability. There are more members contributing, and more successful members supporting and encouraging those who aren’t as successful yet.

So this is something to consider.

If you too offer ongoing coaching, training, or a community of some sort, you can do this too.

Figure out what your LTV is per customer… round that up… or double it or triple it. And then charge people a one-time fee, instead of leaving them to constantly wonder if it’s worth sticking around and renewing for another cycle.

Do this, and you might end up producing a better community, getting better results for your customers, and making a lot more money yourself.

Going ape for agree and amplify

February 14, 2024 by John Bejakovic

I’m working on my new 10 Commandments book and that means I’m reaching deep into my journal and processing all the research I’ve collected.

That’s how I came across a great marketing story I should have already used for an email.

This story involves famous ad man George Lois, somebody I’ve already written about in this newsletter.

Lois was a master of dramatization.

Back in 1960 or so, Lois was tasked with creating a commercial for the new Xerox 914 photocopier. The USP was Xerox’s new technology, which used plain paper for printing and made the photocopier easy to use, unlike the steam locomotives that were used until then.

Lois decided to dramatize Xerox’s ease of use by showing a little girl — his own daughter Debbie — using the Xerox 914 to make a photocopy of her doll.

Sure enough, the commercial showed Debbie skipping over to the Xerox machine and pushing two buttons. Out came a photocopy.

Overnight, Xerox became a sensation. But competitors were furious. No photocopier could be that easy to use! They filed complaints with the FCC for deceptive advertising.

When Lois was told of this, he nodded his head and said, “Yes, yes, you’re absolutely right… it was wrong of us to use a little girl to show how easy this machine is to use… we should have used a stupid ape!”

So Lois reshot the commercial, this time with a chimp in place of Debbie, and with officials from the FCC to watch as the chimp made its photocopy, all in one take.

Following this, Xerox became the biggest photocopier company, a huge tech behemoth for decades. They funded research that changed the modern tech landscape (they invented windows, the mouse, laser printers). And then they let Apple and Microsoft eat its lunch.

But! The point of this email is not Xerox’s business incompetence, but George Lois’s advertising competence.

More specifically, the point of this email is the power of agreeing and amplifying — chimp instead of girl — whenever anybody attacks or challenges or even mocks you.

And now I’d like to tell you about my Simple Money Emails training.

This training makes it so easy to write sales emails that even a little girl could do it.

I really hope somebody will challenge me on that, because I have video recordings of an ape that does it as well.

For more information:

https://bejakovic.com/sme

An incredibly powerful email hook

February 13, 2024 by John Bejakovic

Oh boy.

Yesterday’s email, about scarcity as a performance art, brought the replies pouring in.

I feel like I’m in the courtroom scene in Miracle on 34th Street, with postal workers bringing in satchels of mail for proof of how strongly people feel on this issue.

The issue, in case you missed my emails over the past couple days, is an upcoming livestream by marketers Dan Kennedy and Russell Brunson.

During the livestream, which is set to happen in a couple weeks’ time, Russell will interview Dan, from Dan’s sacrosanct basement workspace. The topic will be Dan’s mind-boggling decision to shut down new subscriptions to his No B.S. print newsletter, starting March 3 of this year.

Real? Fake?

Some of my readers turned detective and wrote in with their findings.

They spotted a detail on the optin page for this upcoming livestream. An image shows Russell, with a mild look of panic on his face, holding a fax from Dan to demonstrate how real this decision is.

The fax has a headline in huge font that reads “SHUT ‘ER DOWN!!!”

Only problem is, the fax also has a small date in the upper right corner, and that date reads 10/24/2022.

Other readers acknowledged that Russell does go for fake scarcity, but defended the man. Some called him a marketing genius. Others just said he does a great job distilling marketing concepts and makes them usable quickly — and it’s up to you to decide what to do with them.

My main takeaway after this whole experience is that industry gossip is an incredible powerful email hook. If, like me, you needed any reminding of that, then let me remind you:

Industry gossip is an incredible powerful email hook.

The only problem I have with anything that’s incredibly powerful is that I bore quickly.

As I said recently on my “How I do it” presentation, I look at this newsletter first and foremost as a sandbox, a playground.

It’s kind of a miracle that it’s turned into a nice source of income and a fountain of good opportunities.

But once something stops being interesting for me, it stops being a topic for this newsletter. So I won’t be writing about this bit of industry gossip, as Dan himself might say, for the foreseeable future.

That said, my playground attitude is not an attitude I encourage anyone else to take.

So if you want to see how two professionals who take their jobs very seriously do it, then check out Dan and Russell’s current “SHUT ‘ER DOWN!!!” campaign.

I continue to promote it with an affiliate link, even though I don’t know if I’ve made any sales, and even though, given that it’s Dan Kennedy, I would promote it without getting paid, simply because I’ve learned so much from the man, and I think you can too.

If you’d like to sign up for that free upcoming livestream, here’s the link:

https://bejakovic.com/no-bs-scarcity

The seedy underbelly of every industry ever

February 11, 2024 by John Bejakovic

This past Wednesday, the BBC ran an article with the headline:

“The seedy underbelly of the life coaching industry”

The article features the story of a woman named Angela Lauria, age 50. Lauria went in search of weight loss and she wound up with a life coach who charged her $100k and got her to spend thousands more on trainings by other life coaches.

We don’t actually find out what happened to Angela in the end, but presumably she did not make her $100k back via new and bigger successes in her life.

I guess the BBC published this article because life coaching is a booming industry and because it’s still relatively new.

The point, the article says, is not to discourage people from seeking a life coach’s services — because there are good life coaches. But it’s the Wild West out there.

I personally think it’s the Wild West everywhere, and always has been.

My estimate — based on having seen behind the curtain at hundreds of businesses while I was a for-hire copywriter — is that 80% of people doing any job are at best mediocre, and more likely, they are actively bad.

Only 20% of people in any industry are genuinely dedicated, skilled, and get good results on any kind of consistent basis.

So what to do? Well, if you’re looking for a life coach, the BBC article has the following good advice:

“Ask the coach how much of their business is referral, call at least three former clients and don’t buy from anyone who won’t do a call with you directly beforehand. And don’t buy from anyone who needs an answer now – scarcity and urgency is made up.”

Meanwhile, if you want to write a personal email newsletter — to distinguish yourself, to prove your credibility, to promote your products and services — then look at my Simple Money Emails program.

Most of the sales for that program came via referrals. And if you’d like to see what a few previous customers had to say, take a look here:

https://bejakovic.com/sme

Gift-box theory of marketing

February 7, 2024 by John Bejakovic

A few days ago, I bought the ticket for my second-ever Sean D’Souza meetup, this coming April, in Lisbon, Portugal.

Sean, as you might know, is an old-school online marketer who has been selling info courses about marketing since 2002.

The first meetup of his I attended, in Seville in Spain last year, was great.

I met a Hungarian who runs a dental clinic in Budapest, Hungary. We bonded over the fact that I lived in Budapest for a long time and had only good things to say about the place.

I guess he was grateful. Because in return, he told me his story and opened my eyes as to what marketing really is and how powerful it can be.

I’m about to share a part of this guy’s very clever marketing strategy for his dental clinic.

I can’t overstate how valuable and cool it is, at least if you’re into marketing.

What I’m about to write is worth reading closely, and remembering, and pondering. Here goes:

For years, the Hungarian ran a highly successful dental clinic doing dental tourism. He built the business on Google ads. Swiss or Brits came in to get their teeth fixed at a discount while enjoying a fancy hotel in Budapest.

And then, corona came. Lockdowns. Travel shut down entirely, as did most businesses.

After a few weeks, dental clinics in Hungary were allowed to reopen. But international travel to Hungary remained closed, which meant dental tourism was out. The Hungarian’s dental clinic had all these fixed costs, and no patients.

So he paced the floor of his empty clinic… he paced… and paced… and he came up with a plan.

He decided to create an entirely new dental business serving only locals. And how.

Within six weeks, he filled the entire practice… without running any ads, which had become super expensive because all the other clinics were running them… without tapping any prior customers or network… without begging masked people on the street to come in for a free cleaning… without creating content… without becoming a social media influencer… without paying other such influencers to promote him.

Pause for a moment.

Ask yourself.

How would you do the same?

How would you get dozens or hundreds of new patients, ready to pay you large sums of money, within just a few weeks, starting with nothing, except the tools of actually delivering the service, and your knowledge of human psychology?

Here’s how the Hungarian did it:

He started approaching the offices up and down the busy street where his offices sat. He would ask to speak to the CEO or to some other top exec and say:

“I have a dental clinic nearby. I’m going to write an email to promote my clinic to your employees…”

So far, so bleh. But this next part is not:

“… and I want you to send it, in your own name. It’s a pandemic outside. People are scared. Even small infections could compromise their immune system, and could prove to be deadly. So I want you to say that you, Mr. CEO, were thinking about your employees, and you reached out to us, and fought to get us to offer a special deal, a huge discount, to your employees to check if they have any dental problems. This is about healthy teeth of course, but in the present moment, it can keep your employees from getting sick or dying. You are doing it because you care.”

Pretty good, right?

Good, but not a sure shot. Mr. CEO might want to look good to his employees, but he might also have bigger, more pressing problems to deal with.

So the dental clinic owner continued with his pitch to Mr. CEO:

“Because of the lockdowns, your business is not operating right now. You are not making money. The fact is, when your employees come to us for their checkup, most of them are sure to have dental problems that will require further work. We will charge them a fair price for this work. And we will give you 10% of these fees to help you out, so you have cash during this hard time, while your business is frozen.”

Result?

Like I said, an entirely new business, a full clinic, highly profitable, in just 6 weeks time.

After the Hungarian told me this, I marveled for a while. And I came up with what I call gift-box theory.

Imagine a collection of beautiful gift boxes. Imagine the small lump of coal you want to sell.

Your small lump of coal might not be very attractive on its own (“I want you to promote my business to your employees”).

So you put your lump in one gift box (“be a hero to your employees”). But no need to stop there. You can then put that gift box into a second gift box (“… and make money at it too”).

Each market has its own set of beautiful gift boxes that they care about, that mean something to them, that tap into their emotional responses.

Your small lump of coal probably means nothing to your prospects. So it is your job as marketer to identify the gift boxes that your market responds to, and then to stack a combination of them in such a way that the entire experience — lump of coal inside a sequence of gift boxes — thrills your prospect.

Actually, there was more to the Hungarian’s story — more gift boxes, more smart and clever and free marketing they continued to do after this initial effort, which grew their business even larger.

But I’ve already shared too much. I wouldn’t normally write so long or share this much how-to information. But I profited from that Sean D’Souza meetup. I’m sure to profit from the next one. And so I wanted to give you something valuable as well.

That said, what I’ve just done is not a good sales email. It’s not what I recommend doing in my Simple Money Emails course. Therefore, I do not expect you to buy anything from me today. But if you want to prove me wrong, here’s more info on everything I offer right now:

https://bejakovic.com/showroom/

Exploiting stupid and gullible customers

February 6, 2024 by John Bejakovic

I live in Barcelona and for the first time in my life, that means I’m drinking bottled water at home.

The Barcelona tap water looks and tastes like it was used to wipe down a chalkboard before being pumped to your house.

I drank the tap water for the first few months after moving here. I kept asking myself, “Why am I always thirsty?”

Then some friends came to stay with me for a few weeks. They took a sip of the tap water. They refused to have a second sip. They bought bottled water instead.

I drank the bottled water while they were here. And when they left, I found I couldn’t go back to the tap.

My thirst was finally cured. But now I have a new problem. I regularly have to go and buy the water, and schlep it back home.

That’s what I did last night after my evening walk. I walked to the nearest supermarket, about 200 yards away, bought a large 6-pack of bottled water, and schlepped it home.

As I was carrying it, I was thinking about how — bear with me here, I’m getting to a point — there’s a convenience store right in my building. A guy named Malik runs it. The total distance from Malik’s convenience store to my front door is 4 yards, not 200.

And yet, I haven’t shopped at Malik’s for almost a year now. I refuse.

The question is why. I’ve actually written about this before:

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Malik doesn’t ever ring up what you’re buying. He never gives you a receipt.

Instead, he eyeballs the stuff you’re holding in your hands — a bottle of water, two cans of beer — and tells you the total. 7 euro 65 cents. Tomorrow, the same basket of stuff might cost 6 euro 30. Or 9 euro 15.

Sometimes, Malik senses he has overcharged you. And without looking at you directly, he senses whether you feel so too. If he ever thinks he’s gone too far, he doesn’t lower the price. Instead, he throws in something extra — a single-serve cookie, a lollypop, a piece of bubble gum. Lately it’s been happening a lot.

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At first, this behavior was curious. Then cute. Then annoying. I stopped going.

I could afford the extra euro or two. I would even gladly pay for the convenience not to have to schlep my bottled water home from a block away. But the random price increases and drops, depending on Malik’s whims and how rich I was looking that day, drove me away. They made me feel gullible and stupid.

The point here is twofold:

First, I’d like to suggest you don’t make your customers feel gullible and stupid. That might seem perfectly clear — much clearer than Barcelona’s tap water. And yet, how many businesses engage in practices that make it seem their customers must be gullible and stupid? Stuff like:

– Transparently fake reasons why (“Our warehouse manager just phoned me in a panic and…”)
– One-time-only offers that really aren’t
– Price increases and drops based on a whim or on momentary greed, rather than strategy

Malik’s store still survives without my patronage. I see him sitting there all day long, looking exhausted and unhealthy. I would gladly pay him the top price he ever charged me for the bottled water, if I only didn’t feel stupid and gullible doing so.

And that brings me to the second point of the story above. But I will talk about that tomorrow, because one point a day is my new limit.

Meanwhile, if you’d like to write daily emails that allow you to 1) build trust rather than resentment and 2) charge high prices that people happily pay, then you might like my Simple Money Emails course. For more information:

https://bejakovic.com/sme/

Sell the summer, not the seed

February 3, 2024February 2, 2024 by John Bejakovic

I’m making my way through an old issue of The New Yorker, from Mar 2023. I’m reading an article about seed and garden catalogues, which offer different strains of cabbage or beet for purchase by mail.

Fascinating, right?

Well, hold on. These seed and garden catalogues are mail-order businesses, and some have survived since the 19th century.

If you’re doing any kind of online marketing today, there’s probably something fundamental and (ahem) perennial to learn from businesses that have sold in a similar way for 100+ years.

So I pushed through the first page of the article. And I was rewarded. I read the following passage about what these seed catalogues really sell:

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Seed and garden catalogues sell a magical, boozy, Jack-and-the-beanstalk promise: the coming of spring, the rapture of bloom, the fleshy, wet, watermelon-and-lemon tang of summer. Trade your last cow for a handful of beans to grow a beanstalk as high as the sky. They make strangely compelling reading, like a village mystery or the back of a cereal box. Also, you can buy seeds from them.

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This is a great though unexpected illustration of something I read in Dan Kennedy’s No. B.S. Marketing of Seeds And Other Garden Supplies:

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As a marketer, you have a choice between selling things with ham-handed, brute force, typically against resistance, or selling aspirations or emotional fulfillments with finesse, typically with little resistance.

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Perhaps you will say that’s obvious.

Perhaps it is.

But how many businesses insist on selling seeds, or even the promise of large or fruitful plants, when in reality what their customers want is a village mystery, the coming of spring, or the tang of summer?

It’s all gotta mean something. Whatever you sell has got to go in a gift-box, and I’m not talking about cardboard or paper.

And now it’s time to sell something.

My offer to you today is my Most Valuable Email training. The seeds inside this training are a copywriting technique you can use every day to create more interesting and engaging content than you would otherwise.

But what I’m really selling is something else — a path to mastery. The feeling of growing competence with each email you write… the joy of looking and seeing patterns others don’t… the ability to transform yourself at will, from what you are right now into anything you want to be, in an instant, like Merlin in Disney’s Sword in the Stone.

For more information:

https://bejakovic.com/mve

Don’t be like me

June 10, 2024February 1, 2024 by John Bejakovic

For the past two days, I’ve been running a kind of flash offer I’ve called Copy Riddles Lite.

In order to promote that, I have finally done something I should have done months ago, and that’s to go through the emails that Australia’s best & world’s most provocative copywriter, Daniel Throssell, wrote to promote Copy Riddles back in September.

Daniel’s emails are filled with gold I could and should have been using to promote Copy Riddles ever since. Such as, for example, the following quotes:

“There are few other courses I fully and wholeheartedly endorse as strongly as one of my own. Copy Riddles is one of them.”

“I have literally never had so many people write to me after I start promoting something, offering unsolicited & gushing feedback on it!”

“It’s the most brilliant course concept I’ve ever seen … literally a gamified series of sequential puzzles that teaches you copywriting.”

So don’t be like me — lazy, careless, and self-defeating when it comes to promoting your own good offers.

Instead, when people write nice things about you and what you sell, save those comments… cherish them… casually drop hints about them over tea or coffee… and every Sunday or even more often, stand up on a soapbox, and openly and dramatically read out those flattering endorsements to everyone who might be interested and many of those who are not.

The Copy Riddles Lite offer is closing down tonight, in another 8 hours, specifically at 8:31pm CET.

Copy Riddles Lite is not a gamified series of sequential puzzles. That’s the full Copy Riddles course, which contains 20 such sequential puzzles.

Copy Riddles Lite contains just one such puzzle.

But it’s a puzzle that stands alone, without the rest of the Copy Riddles program. And if you can guess the right answer — or even if you don’t, but you put in the effort — it will teach you something very valuable about copywriting, in a very short period of time.

Copy Riddles Lite is priced lightly, according to its lite nature. And if you buy it and decide you want to upgrade to the full Copy Riddles program, I will credit you the price you paid for Copy Riddles Lite.

So if you’d like to get this piece of a highly endorsed training before I close down the cart, here’s where to go (no sales page, just an order page):

https://bejakovic.com/crl