Business Ideas

My new, Morning Brew-like newsletter gets an F

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A few days ago, I mentioned a guy named Scott Oldford, who is buying up other people’s newsletters. Yesterday, Oldford tweeted a long thread about what makes a newsletter worth buying.

I got my popcorn ready and I sat down to read.

As I’ve mentioned before, I’ve started a new, Morning Brew-like newsletter in the health space.

I told myself from the start to make it sellable. Not because I want to necessarily sell it. But simply because if it’s sellable, it’s more likely to be the kind of business that’s viable for the long term, and that I’d like to be involved in.

I stuffed my mouth full of popcorn and started reading down Oldford’s list. And though it’s still early days for my newsletter, I started feeling pretty good about myself.

Diverse traffic sources: check.

High engagement: check.

Not a personal brand: check.

Diverse monetization strategies: getting there. Like I said, it’s still early days, but monetization is something I know how to do.

​​But then, I got to this part of Oldford’s thread:

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5. You need everything inside of your media brand segmented and process driven & it shouldn’t require you whatsoever.

If I see a business and the founder is running everything— it’s not valuable.

If I see it and the founder is working 5hr/week— it is.

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I stopped chewing my popcorn and I swallowed hard. Fact is, I’m working way more than 5 hours a week on this thing. And I’m doing everything myself.

The biggest time suck is simply the research — keeping on top of all the news stories, tweets, podcasts, blog posts, YouTube videos, and science papers relevant to my newsletter.

​​Like I’ve written before, better ingredients, better emails. If you want to write an interesting newsletter, you have to have interesting things to write about. And that takes time.

So here’s where I hope you can help me:

I might in the end simply have to hire somebody trustworthy and competent to do all this research for me. ​But I’m holding out hope that there’s a technological solution to this problem. Some combination of automated polling of all these resources… machine transcription… AI-based parsing of what’s interesting or not.

​​Something that can reduce this research work by 50%, 80%, maybe 95%.

Something that can take this aspect of my newsletter from an F to maybe a C. Or who knows, a B or even an A.

Maybe it’s a pipe dream. Maybe not.

If you have any info here — whether you yourself have skills and experience to create something like this, or you know someone who does, or you have somewhere to point me to — write in and let me know.

​​All I can promise in return is my gratitude. But who knows — maybe there’s a business in here as well, because there are a million and one newsletters like mine, and I imagine most face this same problem.

“The one thing all my mentors have in common”

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This past Sunday, Novak Djokovic won the French Open and his 23 Grand Slam title — a big deal in the tennis world.

​​On Monday, in an off moment, I decided to check if there were any interesting news or interviews with Djokovic following the French Open.

I automatically headed to the r/tennis subreddit on Reddit. But in place of the usual page with tennis links and videos, I was hit with a blank page and the following notice:

“r/tennis is joining the Reddit blackout from June 12th to 14th, to protest the planned API changes that will kill 3rd party apps”

Perhaps you’ve heard:

Reddit the company, which is basically thousands of different news boards, is experiencing a kind of strike. Special Reddit users — mods — who control the different news boards are protesting Reddit’s proposed policy changes. As a result, they’ve basically made the site unusable for hundreds of millions of users.

I haven’t been following the drama. But apparently, as of yesterday, Reddit’s CEO said he plans to go ahead with the policy changes. To which many mods decided to extend the strike from 2-3 days, as originally planned, to indefinite.

All this reminded me of email conversation I recently had with Glenn Osborn.
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​Glenn is a curious creature. Once upon a time, Glenn attended 15 of Jay Abraham’s $15k marketing seminars by bartering his way in.

​​He also went to one of Gary Halbert’s copywriting seminars in Key West, and watched Gary go up on stage with that “Clients Suck” hat.

​​These days, Glenn writes an email newsletter called “Billionaire Idea Testing Club” about influence tricks he spots from people like Taylor Swift and James Patterson and J.K. Rowling.

For reasons of his own, Glenn likes to reply to my emails on occasion and send me valuable ideas. A few weeks ago, Glenn wrote me with some things he had learned directly and indirectly from Clayton Makepeace and Gary Halbert and Jay Abraham.

​​Good stuff. But then, in a PS, Glenn added the following:

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P.S. -For Consulting Clients I Do ALL THE Work F-O-R them – MYSELF and thru staffers.

CONTROL is the one thing all my Mentors Have in Common. If You Don’t CONTROL what you do You Cannot Make Munny.

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That last idea definitely stood out to me.

There are so many ways to be successful in any field. And contradicting strategies will often produce equally good results.

But a very few things are non-negotiable. You could call those the rules of the system. Perhaps CONTROL is one of them.

At this point I would normally refer you to Glenn’s newsletter in case you want to read it yourself. ​​But as Glenn himself says, “My ARCHIVE Is By-Referral-Only – Too ADVANCED to Toss Strangers into.”

If you are determined, then a bit of Googling, based on what I’ve told you above, will lead you to Glenn’s optin page and his unusual but valuable newsletter.

And in case you yourself want to want to write an unusual but valuable newsletter, the following can help:

https://bejakovic.com/mve

Do you make this mistake on your optin page?

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Readers do the darnedest things:

I sent out an email last night and I asked if the point I was making was clear. One of the first people to reply was one of my most loyal readers, who has bought several of my courses and given me testimonials on multiple occasions.

He wrote a thoughtful response, told me a little personal story, said my point was clear, and thanked me for the work I do.

I also went to check my unsubscribes from the same email. I saw that this same loyal reader had unsubscribed.

A few days ago, I got an email from a second loyal reader, with the subject line, “Unsubbed… again 😂”.

It turns out he had been unsubscribed for some reason, for the third time. And once you unsubscribe, ActiveCampaign won’t let you resubscribe. The only way back is to write me directly and ask.

I’ve been surprised over the past few months by some of the specific people who have unsubscribed from my emails.

Many had bought courses from me, many had bought trainings, many regularly responded to my emails. Perhaps they genuinely got sick of me — it’s certainly possible, and I know it happens to me. But perhaps it’s some technical glitch. ActiveCampaign does have plenty of those.

So if you have been unwittingly unsubscribed and you are not getting my emails any more and you are not reading this right now, please let me know so I can investigate and maybe fix the issue.

And if you haven’t been unsubscribed and are still getting my emails and are reading, then all I can do is remind you that one is the most dangerous number in business.

People usually say that about one traffic source… or one offer… or one client… or one merchant account. But more than any of those, it applies to only one way to reach your existing audience.

​​If you rely only on one channel, and anything ever happens to that channel, it’s kind of like getting a penny stuck in your windpipe.

I still have the email addresses of all the people who have ever unsubscribed. I guess I could email them again to ask if they really meant to unsubscribe. I do believe that might technically be a crime. Or who knows, maybe I’ll get on TikTok or start collecting physical mailing addresses on my optin page. Gotta have a second reliable way to reach people.

I wrote to the loyal reader who unsubscribed last night. I asked him if he meant to unsubscribe or not. He replied:

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What???

I would never cross myself off your list.

Your emails are my favorite. My daily appointment.

I don’t know why this happened, but if I don’t get your email tomorrow I will panic.

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Again, if you’re not reading this right now, let me know so I can add you back to my list today and prevent a panic tomorrow.

But if you are reading, then thanks. And you might be interested in the following, to help you write emails that people consider their daily appointment:

https://bejakovic.com/mve

My #1 takeaway from a $3k conference

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I went to a $3k copywriting conference 4 weeks ago. Since then, my impressions have settled.

What’s left? What ideas did I really get from the high-powered speakers at this conference?

What’s left today is the same as what struck me while I was still sitting in the freezing-cold conference room.

All the speakers kept repeating the word “simple.” Simple business model. Simple deliverables. Simple promises.

But here’s what I realized while listening to all these speakers:

Getting to simple isn’t simple. It takes time and thought and work to figure out what’s essential. It takes discipline and more work to eliminate what’s not essential. And there’s layers to it, so once you’ve made things simple once, you will probably realize that it’s still not really there, and there’s more that you can do.

Mark Ford wrote a post yesterday about how he loves to teach. And he wrote about physicist Richard Feynman, who believed that teaching is the best way to understand anything.

It’s easy to think you understand something, Feynman believed, until you try to explain it simply. And an audience gives you real feedback. Was it simple? Do they understand? Or are they lost?

If they’re lost, it’s because you lost them somewhere along the way.

Writing is a great way to make things simple. And writing to an audience is even better. Then tomorrow, you can do it all again, at a new level of understanding. Does that make sense? Write in and tell me, because it will help me figure things out also.

Dentists vs. copywriters: Who wins the better customer battle?

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Here’s a new perspective I found insightful, about who you sell to. Maybe it can save you some headache and even failure:

A few days ago, I was talking to a newsletter strategy consultant. He was telling me about his own newsletter, and the paid advertising he is planning for getting paid subscribers to it.

I won’t name this guy — I’m not sure he would want me to — and I won’t reveal the kinds of people he will be targeting with his ads — not so relevant to others but maybe very valuable to him.

So what’s left?

What’s left is the people he will not be targeting with his ads. And this I believe is relevant whatever your actual business is.

The newsletter expert said he will not be targeting independent newsletter creators. Why? Because, as he told me, they are “a little short term and flaky.”

How could it really be any other way?

If somebody has no employees, no office, no expensive and custom equipment, no contracts to fulfill, and in general no obligations, what’s keeping them going if things ever get bad? The answer is nothing.

That’s why it’s in general better to sell to, say, dentists, who are tethered by a million hooks to their businesses, than to, say, copywriters, who can decide from today to tomorrow to close their laptops and go work as a park ranger or to maybe roast coffee for a living.

That’s not to say you can’t make money selling to people who are a little short-term and flaky. But it exposes you to more risk, and it limits what you can sell and for how much.

That’s something to keep in mind whether you sell to other businesses (hopefully, chained and burdened dentists) or direct to consumers (hopefully, people with an unavoidable problem or an all-consuming obsession).

Last point:

​​I found an interesting new newsletter recently.

This newsletter gives the perspective of somebody who manages to profit from short-term and flaky independent newsletter creators. That somebody is Scott Oldford, who has been buying up independent newsletters and then investing in them and scaling them up. Scott writes about his adventures here:

https://investing.scottoldford.com/

Easy way to go from a bit of a failure to a big-time success

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I have an offer for you at the end of today’s email. But first, I have a sexy marketing story that might make you want that offer. The story goes like this:

Back in the early 2000s, a guy named Andrew Wood ran an info publishing business, teaching marketing to karate schools. Wood knew what he was talking about, because he had previously created and then sold a chain of 400 karate schools.

Wood’s info publishing business was pulling in good money, around $30k each month. The trouble was, Wood’s expenses — business, car, wife — totaled $40k each month. In other words, he was losing blood like a harpooned whale.

So in a moment of desperation, Wood got in touch with Jay Abraham. The two met.

Over the course of a morning, Jay Abraham grilled Wood all about his business. After each question, Abraham came up with suggestions. And Wood replied he was already doing that — or he had tried it before but it didn’t work.

As the meeting wore on, Jay Abraham grew more and more frustrated. Eventually, he stood up from the table.

“You’re so fucking smart,” Abraham said, “figure it out for yourself.” And he walked out.

Wood sat there stunned. But before he had a chance to do anything, Jay Abraham came back and apologized. And he asked Wood to run through the numbers one more time.

“What are you taking in each month?”

“$30k.”

“How much are you spending?”

“$40k.”

“And how much do you want to make?”

“$60k would be great.”

“Okay,” Jay Abraham said. “That’s easy. Just double your prices! Find something you can add to the program to increase the value and double the price.”

And with that, Jay Abraham said goodbye.

Silence. Do you think Andrew Wood sat there thinking, “What a great insight!”

Of course not. He thought it was a total lack of advice. But on his way home, he stopped for a beer. A few of his employees joined. After the third beer, they started kicking around the “just double your prices” idea.

A couple weeks later, Wood stood on stage in front of his two hundred customers. And he announced a new monthly program.

It would cost $200, twice as much as what they were already paying. The contents were not much more than what they were already getting.

Result?

Wood says that in three months, he went from taking in $30k a month to $100k a month. More importantly, he went from losing $10k each month to making a profit of $60k. By Christmas, he was entirely debt-free and owned his first Ferrari.

So that’s the sexy story. Now here’s the offer:

A couple weeks ago I sent out an email asking who would be interested in a training about increasing your prices.

​​I got a fair number of yeses in response to that email, but not enough to make me want to put that training on. Lately been saying no to middling opportunities and putting my effort only in near sure shots.

At the same time, your first Ferrari — or whatever the equivalent moonshot proof of success might be in your own mind. That’s what can happen if you double your prices.

​​And yet people don’t double their prices.

Why? And what can you specifically do about it?

That’s what I want to address on this training. And if it’s something you’d be interested in hearing about and profiting from, then hit reply, and let me know. If it enough people say yes, then I’ll put this training on.

How to cut your unsubscribes almost in half

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In this email, I’ll write about an idea you’re probably heard before. It might not be anything new to you. In fact, you might not want to read this email at all.

Yesterday I was talking to a coaching client. He recently took over the management of an email list with 50k subscribers.

That’s my preferred position, by the way — a kind of Harry Hopkins-like figure, a back-end advisor and scheme man rather than a front-facing figurehead.

​​Unfortunately I can’t do that with my own emails. Still, I continue to write this newsletter simply because I find the practice so personally valuable.

But back to the coaching call. My coaching client took over the management of this sizable list, and he started sending more regular emails.

At first, he put a paragraph at the top of these emails, warning his audience they would be getting emails more often, along with a link in case they wanted to unsubscribe.

Unsubscribe link right at the start of the email. Result? 50-60 unsubscribes each time.

He then took that paragraph out. Just the usual unsubscribe link left at the end of the email. Result? The unsubscribes jumped to 100.

That’s the idea I warned you about at the start. You’ve probably heard it before.

Really, it’s a tale as old as time, a song as old as rhyme. But these days, it mostly gets attributed to Jim Camp’s book Start With No.

Says Camp, never take away your adversary’s right to say no. In fact, go out of your way, make a show, above and beyond, to assure your adversary you respect his or her right to say no. And mean it.

Camp was a negotiator in billion-dollar deals.

In other words, this isn’t just about cutting your unsubscribes. It’s also about making more sales and making more deals. And most importantly, it’s about continuing a valuable relationship into the future.

I’ve repeatedly promoted my Most Valuable Email course in these emails.

Perhaps you’ve decided this course is not for you. Perhaps you’re just not interested in it. That’s fine.

Otherwise, if you’d like more information about Most Valuable Email, you can find it here:

https://bejakovic.com/mve

Why the bathroom is a great place to negotiate

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I walked to the beach this morning. People were out jogging. Others were going into the sea. Some were playing with their dogs. And there I was, listening to a course by negotiation coach Jim Camp, and taking notes on my phone.

“One of the things I like to do is negotiate in the bathroom,” Camp says. “It’s a great place to negotiate.”

To me that sounded like the usual contrary and shocking Camp material. But this one is surprisingly straightforward.

“When are people most exposed?” Camp asks. “I’m not talking about their physical parts. I’m talking about, when are they most relaxed, in their mind? When do they open their mind? When are they most exposed? ‘Well, the fight’s off. Now I’m free to go to the restroom.’ As they go to the restroom, you ask them a question. They’ll answer. They smile, and they answer the question. It’s a great time to do research.”

That’s a good tip for when you negotiate. Or for when you do magic.

Because this is the same exact idea described in a book I read not long ago, by a guy named Gary Kurtz, about the use of misdirection in stage magic.

Kurtz has a name for this bathroom phenomenon. He calls it the off-beat. The off-beat is the relaxation, the lull in attention that happens when the audience thinks the magic trick is over. That’s when the actual sleight-of-hand is done.

I’m thinking of writing a new book. I don’t have a title yet. Maybe I will call it, “10 Commandments of Hypnotists, Pick Up Artists, Comedians, Cult Leaders, Copywriters, Door-To-Door Salesmen, NLP Trainers, Storytellers, Professional Negotiators, and Stage Magicians.”

The topic would be core ideas I’ve picked up from a bunch of far-flung fields, which are actually all the same field – one that’s all about controlling attention, heightening emotions, guiding people to an outcome.

I’m only thinking about this book right now. But if you have any input you’d like to give me — stories you think I can include, other fields I didn’t think of, specific techniques you have in mind — hit reply and let me know.

​​I don’t have anything to promise you in return, except my gratitude, and an acknowledgement in the book if I ever do put it out. Thanks in advance.

I’m good at writing stories, hate writing personal stories, and found a new way to look at it

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I spent a good amount of time just now, thinking up and then discarding 10 alternate angles to start this email about personal stories. The fact it took me so long and I still got nothing proves the point I’m trying to get at:

It’s easy to write stories. It’s hard to write personal stories. At least write ’em well.

But what does that mean?

I’ve written thousands of stories, in the context of this newsletter, in sales emails for clients, in Facebook ads, advertorials, sales letters.

Many of those stories were written well, in the sense that people read them, and were then hypnotized — they became open to suggestion and influence.

Most of those thousands of stories involved my clients, or were retold horror stories I’d found online, and one was about Benito Mussolini, and what happened to his corpse after he died.

But out of those thousands of stories, some were also personal stories, featuring me. Some of those personal stories I managed to write well. Some not. I never knew why.

Because of this, I always felt an extra level of confusion, resistance, and doubt whenever I have to tell a personal story. “Is this a good story? Should I include this bit? Is it relevant? Is it interesting? Am I just including it for the sake of ego? Is it irrelevant to the story but somehow important on another level?”

Today I was reading an old issue of the New Yorker. I came across an article, written by Prince Harry’s ghostwriter, about the challenges of ghost writing a memoir for Prince Harry.

“No thank you,” I said immediately, and was ready to turn the page.

But I have this rule that whenever an article seems utterly repulsive to me, I force myself to read it. And good thing I did. I came across the following passage.

The ghostwriter was fighting with Prince Harry over a detail in a story. The prince wanted the detail included. The ghostwriter didn’t. The prince insisted, because this detail showed an important bit of his character. To which the ghostwriter said, “So what?” And he explained:

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Strange as it may seem, memoir isn’t about you. It’s not even the story of your life. It’s a story carved from your life, a particular series of events chosen because they have the greatest resonance for the widest range of people, and at this point in the story those people don’t need to know anything more than that your captors said a cruel thing about your mom.

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I found way of looking at personal stories insightful. I mean, this is what I’ve always done instinctively when writing stories about other people. But it’s something I could never put my finger on when writing stories about myself.

And I’m only telling you I found this insightful because maybe you too have found it frustrating to write personal stories in the past, and maybe you will find this new way of looking at personal stories insightful also.

There were other valuable things that prince Harry’s ghostwriter said, which might be useful to you, whether you’re trying to bring to life your own personal stories, or whether you too work as a ghostwriter. In case you are curious:

https://www.newyorker.com/magazine/2023/05/15/j-r-moehringer-ghostwriter-prince-harry-memoir-spare

Not comfortable asking for more money?

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Trevor “Toe Cracker” Crook was at the front of the room, finishing his presentation, and was about to launch into the pitch for his offer.

“How many of you regularly close 5-figure copywriting contracts?” he asked.

You’re supposed to participate if you’re in the audience at a conference, and give the speaker some signs of life. So I raised my hand.

I was sitting in the front row. I glanced over my shoulder. I realized that, out of 25+ other copywriters in the room, maybe two or three also had their hand up.

I felt sheepish. I put my hand down.

The fact is, I’m not overwhelmingly confident. I’m certainly not assertive or demanding.

And yet, a couple years ago, back when I was still regularly taking on client work, I was closing 5-figure deals matter-of-factly. And if I were taking on a big project now, I wouldn’t have any trouble asking for — and probably getting — $15k or $20k, upfront, depending on what needs to be done.

In my experience, asking for more money is not a matter of confidence, in the sense of some unshakeable self-belief. Nor is it a matter of assertiveness.

It’s really about systematically putting yourself into a situation where neither of those is needed. As negotiation coach Jim Camp, who guided Fortune 100 CEOs and revamped the FBI’s hostage negotiation process, had to say:

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I’ve got wonderful non-assertive people that just do magnificent jobs in negotiation. But that’s because they have the tools. They don’t need to be assertive. Assertive is not a trait that is to be desired in negotiation by any means.

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I’m thinking about putting on a training in June about how to be comfortable charging more. This isn’t only about copywriting work. I’ve been selling courses, live presentations, and consulting to make up for the fact I rarely work with copywriting clients any more. I’ve found the same principles apply whenever money changes hands.

If such a training is something that would interest you, hit reply and let me know. In case there’s enough interest, I will put it on.