Business Ideas

Why you should ignore your competition

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True story:

Two entrepreneurs started two similar businesses, selling cubic zirconia (aka synthetic diamonds) by mail.

The first guy ran a well-written ad in the LA Times and sold a bunch of one-karat fake diamonds.

After all expenses were covered, he made a profit of around $3,000.

Disgusted with this small payout, guy number one folded shop and moved on to a new opportunity.

Guy two also ran an ad in the LA Times.

His ad was not as well written, and though it pulled some sales, the end result was about a $10,000 loss once all the expenses were counted.

However, guy two did not exit the market.

Instead, he mailed out his fake diamonds in a fancy wooden box with a letter that said (I’m paraphrasing),

“Look at your beautiful one-karat diamond in its beautiful box. Doesn’t it have a fiery brilliance? Oh and by the way, in case it’s smaller than you expected, we do also offer five- and ten-karat stones. And if you like, just return this beautiful but tiny diamond and we will credit its value to your purchase of a bigger rock.”

Guy two rode this fancy-wooden-box-plus-upsell-letter approach to a $25 million business — in the first year alone.

I heard this story in a talk given by Jay Abraham. And I was reminded of it today, when I read an article written by marketer Sean D’Souza.

I think Sean’s article is valuable reading for anybody who’s interested in building a successful and lasting building online — rather than just looking for a one-time opportunity with a quick payout. It might also be valuable reading for copywriters who put a lot of stock in swipe files.

In case either of these sounds like you, then here’s the link to read the full story:

https://www.psychotactics.com/ignore-your-competition/

The dangers of premature O

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Today I heard a talk by Perry Marshall about a topic dear to many marketers:

The 80/20 rule.

The basic idea is that 20% of your causes are responsible for 80% of your effects.

So 80% of the grunting at your local gym is caused by 20% of gym rats…

While just 20% of Seinfeld episodes will produce 80% of the most memorable jokes.

More seriously, if you’re doing any kind of creative or productive work, this rule says you can get more done than a romp of otters by focusing on that small part of your business where you are most valuable, and ignoring all the rest.

The underlying idea here is optimization. Of your time. Of your efforts. And of your assets. It’s an idea that’s popular with guys like Perry who have a background in engineering but have since moved into marketing.

The thing is, I also have an engineering background. And I know another optimization rule-of-thumb besides the famous 80/20 rule.

This rule comes from Donald Knuth, a legendary professor of computer science from Stanford University. Prof. Knuth had the following to say on the topic of optimization:

“We should forget about small efficiencies, say about 97% of the time: premature optimization is the root of all evil.”

In other words…

Optimize too early, and you might end up wasting time and resources focusing on irrelevant things…

And more importantly, you might get stuck with a sub-optimal solution.

Let me give you an example of what I mean.

In my own copywriting business, I’ve had several ongoing clients over the past several years. This 20% of my clients has represented steady, well-paid work — probably 80% of my total income.

And yet, I have not focused on getting more than my usual share of work from these same clients…

And I have not gone out looking for more of the same kind of client.

That’s because I believe these particular clients — though they have been good to me so far — are not the kinds of businesses that will get the highest value out of the copy I write.

And that’s why I spend a lot of time and effort courting different clients, who at this point might be more difficult, fickle, and demanding, but present a bigger opportunity long term.

So am I saying you should ignore the 80/20 rule altogether?

Not at all. Instead, just consider whether you really need to optimize your business at this point — or simply work a bit harder.

Anyways, if you are looking for a sales copywriter and you’re wondering whether you could get a lot of value out of the kind of copy that I write, then here’s something that might help you decide:

https://bejakovic.com/profitable-health-emails/

A cold email to pierce the armor of Smaug the Magnificent

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Have you ever written a successful cold email to an internet influencer, such as a marketer, copywriter, or business owner with a large online following?

Over the years, I’ve written dozens of cold emails to such Internet personalities…

Telling them how I liked their content…

Or introducing myself and asking if I can be of any service…

Or making some kind of a pitch outright.

Almost always, these emails bounce right off, much like arrows shot at the dragon Smaug in Tolkien’s the Hobbit.

That’s not surprising. Internet influencers have thick armor protecting them against unsolicited advice, compliments, or pitches.

However, like Smaug, most Internet personalities also have weaknesses in their armor, particularly near their soft underbellies. And if you can spot such a weakness and shoot an arrow — I mean a cold email — straight at that hollow in their armor, you can get the influencer’s attention. In this way, you might even get access to the vast stores of treasure these influencers normally sleep on.

So for example, one cold emailing approach I’ve had success with has been to write to marketing and copywriting greats…

Tell them how I’ve applied some specific bit of their how-to advice…

And report the results it’s gotten for me.

In a nutshell, I’m giving them a results-based testimonial — and I’m setting myself apart from everybody else who simply writes, “Great stuff! Loved it! Keep it coming!”

Of course, in order to do this, you have to actually implement what these influencers are teaching.

This takes time and effort.

But in my own personal case, whenever I’ve sent a cold email like this, I’ve gotten back an enthusiastic response even from unreachable personalities…

And on a few occasions, I’ve even gotten some treasure as a result.

If you do take this approach to reaching influencers, write me an email and let me know how it’s worked for you.

Let me steal your underwear

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One afternoon in October 2018, a strange man showed up at an open house in Michigan.

He trailed around the house for a bit, pretending to be checking it out.

He then walked down to the basement. That’s where the washer and dryer were.

He walked over to the dryer, took one quick look around, and reached in. He pulled out a pair of men’s underwear, then another. He stuffed both pairs of underwear down his own pants, walked back upstairs, and left the house.

We know all this because it was captured on a security camera. In spite of the recording, the man was never identified — and the stolen underwear never recovered.

The lesson being, be careful who you let into your house to wander around…

Or, when you hire a copywriter — and allow him to wander around your business.

After all, in order to have a copywriter write effective copy for you, you often have to show him how your business works from the inside out, in complete detail.

For example, in my time working with various clients, I’ve had access to entire back-end funnels… Names and addresses of all customers… Profitable lead-gen sequences… Secret lists of JV partners… And complete product lines of books, videos, and courses.

If I were the pilfering type, I could have taken this information and cloned these clients’ businesses — or at least portions of them.

And in fact, I’ve heard stories from business owners who have had exactly this happen to them.

I’d like to tell you there’s a simple way to avoid this in your own business.

But I’m not sure there’s any better thing to do than to go by a copywriter’s reputation, or your own gut feeling about who is trustworthy.

Like I said, I’ve been given access to a ton of business underwear in my life. I haven’t stolen a single pair.

And even if you let me steal your underwear, I promise I won’t.

Maybe you don’t find that convincing enough. So  if you prefer to write your own copy for now, I can understand. In that case, you might get some good ideas in the following book — which is based on my work with lots of other clients:

https://bejakovic.com/profitable-health-emails/

Cry me a river, Smartcar — and build yourself a moat

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Yesterday, I read a bitter blog post by the CEO of the company Smartcar.

Smartcar is a small, 20-person company developing software that allows app developers to connect to smart cars.

And it looks like Smartcar (the company) has just been screwed. That’s because a bigger, better-funded company called Otonomo has apparently cloned Smartcar’s product, down to the API documentation.

And that’s what the CEO of Smartcar was railing against yesterday. He said Otonomo’s actions are illegal, wrong, and a rip-off.

To which I say, cry me a river. What did your expect would happen if your product started to show promise?

I personally think there are a couple of lessons in here.

First, it’s a good idea to learn about basic business principles rather than blindly following your passion and hoping this will carry the day.

For example, Warren Buffett, billionaire investor and currently the third wealthiest person in the world, has long talked about his castle-and-moat approach to investing. Says Buffett:

“We’re trying to find a business with a wide and long-lasting moat around it, protecting a terrific economic castle, with an honest lord in charge of the castle.”

I don’t know about Smartcar’s economic castle and the honesty of their lord, but they clearly didn’t have an adequate moat.

Not a surprise, because as Buffett says, “most moats aren’t worth a damn.”

So what makes a good moat? Buffett gives a few categories (the specific examples below are mine):

Being the low-cost producer (Walmart)…

Having an unassailable natural franchise (VMware)…

Having a clear technological advantage (Google)…

Occupying a strong position in the consumer’s mind (Apple).

Hopefully you’ve already one or more of these in place to protect your business.

And if you want to make your moat deeper, wider, and filled with hungry crocodiles, here’s how to occupy a stronger place in your consumer’s mind — without being Apple.

The key is to inform your consumers about all the great stuff your product or service will do for them…

To inform them frequently…

And to do it in a way where they still enjoy hearing from you, rather than being worn out by the constant thud of the selling hammer.

If that’s what you want to do, I’ve got two resources that might help.

The first is a list of 12 books, blogs, and courses on copywriting and marketing — which I personally found most useful when I was starting out.

The second is my own daily emails on marketing and copywriting.

Conveniently, you can get both resources with one simple action. And that’s by signing up with your email at the link below:

https://bejakovic.com/copywriters-hero/

Honeymoons on Hog Island

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There’s a tense scene early on in the James Bond film Casino Royale.

Jimmy, dressed in khakis and a black button-down shirt, sits down at a high-stakes poker game.

He keeps winning. By the end of the night, he even wins himself the keys to the bad guy’s Aston Martin, and indirectly, to the bad guy’s sexy wife.

Exciting stuff.

And set in a beautiful location, on an unnamed tropical island.

The real-life location of this scene is a private island in the Bahamas, currently worth about $2 billion. The island features exclusive casinos and some of the world’s most expensive hotels (including the The Atlantis, which offers a room for $25,000 a night).

Merv Griffin owned the island at one point, and reality-TV star Donald Trump was a major investor. All of which begs the question:

What’s the name of this magical place?

Why, I’m surprised you don’t know it. It’s none other than…

Hog Island.

Ok, it’s officially Paradise Island now, since around 1959.

But it certainly was Hog Island originally, until big tourist development started up, and the then-owner decided it was time for a rebranding.

Come to Hog Island — your wife is already here

The point being that names matter.

It’s hard to imagine James Bond paying a trip to Hog Island, even if it were packed with dangerous women and beautiful cars. It’s equally unlikely that even with the fanciest hotels and most romantic beaches, Hog Island would ever seem like an acceptable destination for a honeymoon.

But here’s something else to notice:

“Paradise Island” isn’t a terribly creative name. Yes, it’s good enough to sell an island in the Bahamas. But it wouldn’t do much to promote a rocky, rainy, wind-swept isle off the coast of Scotland.

All of which, I think, has some practical applications.

For example, if you are starting out as a freelancer on Upwork, you may be tempted to spend a lot of time on your profile page. Which title should you give yourself? What should you say in the description?

Sure, those things matter, just like the name “Paradise Island” matters. But they are only one part of the total picture of Upwork success and they won’t win you jobs by themselves.

So what to do?

I’ve got lots of advice on the “positioning” part of getting on Upwork. But I can also tell you about the entire process of becoming a $150/hr freelance copywriter. In fact, I’m putting together an entire book on the topic right now.

It will be out in another couple of weeks. And then I will put it up on Amazon.

If you want to sign up to get notified when it’s out, mix yourself up a Vesper martini, unholster your Beretta, and take aim at the deadly link below:

https://bejakovic.com/upwork-book-notification-list/

A lesson from Widows: How to tell you’re winning a negotiation

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I just saw the surprisingly good Widows.

There are many scenes in this movie that would make for good email — or blog — fodder.

One that sticks out is the following:

Jamal Manning is a former crime boss who’s looking to get respectable, so he’s running for alderman in Chicago’s 16th district.

And in this scene, he visits the reverend of the largest congregation in his district, trying to get support.

The reverend speaks first:

“Election’s in less than a month. If I was a doctor, I’d be telling you to get your affairs in order. Three weeks from now, you won’t need a doctor. You’ll be asking someone like me to give you last rites.”

Manning is getting impatient. He thinks the reverend has already decided to endorse his opponent.

“I didn’t say that,” says the good reverend.

He then suggests he’s still keeping his options open.

Finally, Manning can’t take any more. He blurts out:

“I’m gonna cut to the chase here, reverend. I’m in the driver’s seat. I just don’t have a set of wheels. All I need is your endorsement and your contribution to help me get across the finish line.”

And there it is.

The phrase that tells you you’ve been negotiating right, and are near to crossing the finish line.

Did you catch it?

“I’m gonna cut to the chase.”

That’s not my wisdom.

Instead, it’s straight from the late negotiation expert Jim Camp, who said his students always love to hear that phrase. “Cut to the chase” means the other side is getting worn out and they are ready to agree to just about anything.

So how do you get to that point?

Well, you do what the good reverend did.

Which is something that doesn’t just apply to local politics or crime movies.

In fact, it’s another tenet of Camp’s negotiating method.

And it’s even something that’s been adapted to writing more effective sales emails by that devoted Camp disciple, Ben Settle.

You can try to glean what I’m talking about by closely reading the script above.

Or you can get a copy of my upcoming book when it comes out, where I will cover this topic in much more detail, and give several examples of emails where I’ve used this same strategy.

The choice is yours. If you want the second option, here’s the link:

https://bejakovic.com/profitable-health-emails/

How to sell probiotics with a lesson from Lucky Strike cigarettes

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There’s a scene in the TV show Mad Men where the main character, Don Draper, hits on a moment of advertising brilliance.

Don has been tasked with coming up with a new ad campaign for Lucky Strike cigarettes.

But he hasn’t come up with anything.

And so he’s sitting in the meeting with the client, and it’s going terribly. Since he hasn’t come up with anything, he has to hand over the reins to a junior copywriter who pitches an angle that flops.

The frustrated and disappointed clients get up to leave.

And in that moment, Don hits on his inspired idea:

“We’ve got 6 identical companies selling 6 identical products. We can say anything we want. How do you make your cigarettes?”

The owner of Lucky Strikes shrugs. “We grow it, cure it, toast it.”

“There you go,” Don says. And he writes the new (and now age-old) Lucky Strike slogan down on the board:

“It’s toasted”

Now, if you know something about direct response marketing, this might seem like a typical example of useless branding copy.

Where’s the benefit, after all?

Well, sometimes you don’t need to scream benefits, even in direct response copy.

I thought of this today while I was working on a sales page for a probiotic.

Probiotics are a huge market right now.

And many people are already aware of what probiotics do (gut health, immune system, etc).

The problem for many people at this stage is not, “How can I fix my awful bloating/indigestion/gas?”

Instead, the problem now is “How can I choose from this sea of probiotic products which all claim to reduce my awful bloating/indigestion/gas?”

It’s something that the copywriting great Gene Schwartz called the 3rd stage of market sophistication. From Gene’s book Breakthrough Advertising:

“If your market is at the stage where they’ve heard all claims, in all their extremes, then mere repetition or exaggeration won’t work any longer. What this market needs now is a new device to make all those old claims become fresh and believable to them again. In other words, A NEW MECHANISM — a new way to make the old promise work. A different process — a fresh chance — a brand-new possibility of success where only disappointment has resulted before.”

For the probiotic sales page that I’m working on, that mechanism is clear: the specific strains in the product have clinical studies showing they actually work. This sets the product apart from just about any competitor on the market right now. Applying the Lucky Strike lesson, we could sum up the sales message as:

“It’s clinically proven”

Now, in the Mad Men episode, Don winds up giving an inspiring speech about how advertising is all about happiness.

The fact is, it’s more about hope — the hope that our problems can be solved.

And if your customers are a bit confused or jaded because of other similar products on the market, then you have to give them hope that your product really is better or different than anything they’ve seen before.

John Bejakovic

P.S. If you need copywriting in the health space that can either wow with benefits or cajole with mechanisms, then you can get in touch with me here:

https://bejakovic.com/contact