Business Ideas

A planet where it rains dollars in the evenings

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There’s a planet out there called WASP-76b where it rains iron in the evenings.

(I’m not making this up.)

One side of WASP-76b always faces its star. This side is super hot — 2400 degrees Celsius — and iron melts there and rises into the air as vapor.

The other side of WASP-76b is always in the dark. It’s a balmy 1500 Celsius there.

In between the light side and the dark side, there’s a shadow area, or you might call it the evening area, where the iron vapor condenses and comes raining down.

Like I said, I didn’t make any of this up. Scientists reported it in a new paper published in Nature just a few days ago.

But what if I did make it up?

Well, I might be on to something profitable in that case.

Because as Ben Settle said in one of his recent emails, there’s a lot of value in “world building.” That’s what fantasy and sci-fi authors like JRR Tolkien and Frank Herbert do: They invent entire worlds or universes, including made up ecologies, histories, languages, mating rituals.

When done right, these made-up worlds have a coherence of their own… and they suck readers and fans in like magic.

Of course, maybe you’re not interested in writing a fantasy or sci-fi saga. Fear not.

World building also applies to marketing your stuff online.

Ben Settle is actually a good example of this, with his gooroos and Maynard trolls and conemtptible new product junkies — all characters who keep reappering in his emails.

But you know who’s even better at world building?

It’s somebody I call the “Ben Settle of Facebook.”

Much like Ben, this guy has a rabid audience that will pay outsized fees — $2k or $5k or more a month — just to sit at this guru’s feet and learn from him.

Much like Ben, he’s also a student of the classics of copywriting (Gary Bencivenga) and persuasion (Jim Camp).

The only difference is that, while Ben is abrasive and loves to mock and shame, this Facebook world-builder is all smiles and cuddles.

I’ve mentioned him many times in these emails, but in case you don’t know who I’m talking about, his name is Travis Sago.

Travis has a bunch of micro-groups on Facebook and each group is like a miniature part of a bigger story. Each group explains one aspect of Travis’s money-making mythology — things like tapping, the 30 year wealth shortcut, and the mini monopoly. It’s a masterclass in world building… and in making money rain down every evening.

But The Lord of the Rings is pretty lame if you hear me retell it. You have to read it for yourself. Same with Travis Sago. So if you want to see how he builds his worlds in all their detail and complexity, here’s the entry point into his orbit:

https://www.facebook.com/groups/milliondollaroffermojo/

Outrage with stupidity to milk info out of cagey or indifferent adversaries

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[Dear reader, in Hungary or elsewhere: In spite of saying I would quit it, I’m back posting my daily newsletters to this blog. I have two reasons. One, I never got going creating bigger articles out of these newsletters the way I planned. Two, I don’t want to kowtow to Google — they prefer fewer, longer articles — and I would rather write specifically for people like you. Thanks for reading. And now onto this inflammatory post:]

Two days ago, the president of the UFC, Dana White, got trolled into revealing a highly guarded secret. A bit of background:

The UFC hosts mixed martial arts fights, and on April 18 they were supposed to host the biggest and most anticipated fight in their history, between Khabib Nurmagomedov and Tony Ferguson. These two fighters are both on 12-fight win streaks in the UFC, and they were scheduled to fight four times already. Each time, the fight was cancelled at the last minute for some reason.

This time around, as sports organizations around the world cancelled events because of corona, my man Dana White refused to give in. “We’re going ahead with the fight!”

The only problem was they couldn’t figure out where to host it. It was originally supposed to be in Brooklyn, but that was now out. In fact, any other location in the US also became untenable.

“The fight is still on, guys!” White would repeat whenever asked, though he wouldn’t give any more details. So over the past month, speculation kept increasing. Fans were alternating between getting resigned to the inevitable fifth cancellation… and hyped when some new possible location for the fight surfaced. Meanwhile, even Tony and Khabib, the fighters who were supposed to be fighting on the 18th, didn’t know for sure if the fight was still on.

So that’s the background. The update from two days ago is that somebody created a fake Twitter account, mimicking a well-known MMA journalist, and tweeted:

“#BREAKING: Dana White and Vladimir Putin have reached an agreement on travel arrangements for UFC Lightweight Champion Khabib Nurmagomedov to come to the United States. He will fight Tony Ferguson. It’s happening folks. #UFC249 will go on as scheduled April 18.”

To which Dana White, big goof that he is, immediately blasted out a Tweet saying that it ain’t so, that Khabib is not fighting on April 18, and then to prove it, he finally revealed the whole card that’s scheduled for this corona-infested bout.

Which brings us to the present day, and something called Cunningham’s law:

“The best way to get the right answer on the Internet is not to ask a question; it’s to post the wrong answer.”

The sad fact is that in business, in love, and on online forums, there are many times when people are unwilling to answer your questions. Maybe the person you’re talking to is indifferent, or cagey, or hurt, or they just don’t like the implied power dynamics that come with you asking and them answering.

So if you ever find yourself in this situation, swallow your pride, and publicly make a dumb, completely wrong assumption about the right answer. If Cunningham is right, and I suspect he’s at least a little bit right, then an outraged somebody will jump in and say, “No! You’re so wrong! Let me tell you how it really is…”

But I think this Cunningham and his law go even farther. If you just swap out “right answer” and you swap in “response,” you get a good recipe for how to get yourself publicity and an audience online.

Of course, unless you want to be just a troll, you’ll have to figure out a reasonable argument to justify a seemingly “wrong” opinion that you use to attract attention. But it can be done, and guys like Matt Stone and Ben Settle prove it. Outrage and reason are a powerful combination. Aloe vera on its own is pretty bland and slimy, but it sure feels good once you burn your hand on the stove.

Agora finally gets into Internet marketing

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I remember back in 2006, when Amazon announced its new Amazon Web Services.

How clever, I thought. Like Donald Trump selling golden mailboxes at Trump Tower to entrepreneurs who want the ritzy mailing address.

After all, Amazon already had all of the computer boxes and wires and know-how for connecting them together. Other businesses didn’t have this — but wanted it. So Amazon could make a nice business by making its internal IT resources publicly available on a per-use basis.

And what a cash cow it turned out to be. AWS is now estimated to bring in $25B a year — more than McDonald’s — and is one of the main profit centers at the famously profit-free Amazon.

Now here’s a puzzle for the marketers out there:

What’s lying around your desktop (literal, computeral, or mental) which you could sell like Amazon sold AWS?

Don’t just shrug if off, but think for a minute.

Because even some of the most successful marketing businesses out there don’t collect this free money. Case in point:

Agora.

Agora is probably the biggest direct response company, with dozens of subsidiaries, and hundreds (thousands?) of offers, mostly financial newsletters.

You can bet that with all this experience selling high-margin info products online, the people at Agora know a thing or three about copywriting and Internet marketing.

And yet, in spite of its tremendous proof elements and branding, Agora doesn’t have any offers in the profitable and growing copywriting/IM niche.

Or at least… they didn’t.

Right now, Agora is spinning up a new division focused on Internet marketing.

I’m not sure what it’s called, but they have an email newsletter called Daily Insider Secrets.

On different days, you can read insights from Evaldo Albuquerque, one of the most successful copywriters at Agora Financial in the past few years…

…from Peter Coyne, also a successful copywriter and the youngest publisher inside Agora…

…and finally, from Rich Schefren, a big name in the IM space for the past decade or two.

I’ve been signed up to these emails for a few days. So far, it’s been like they say — IM secrets you can’t get nowhere else.

Except perhaps, in my own email newsletter. After all, my only fun in life is scouring the Internet for new marketing and persuasion ideas, and then giving them away in my daily newsletter. Usually packaged up in some kind of story.

If that sounds like the kind of thing you might be interested in, then you can try out my (FREE!) email newsletter here.

Simple price negotiation with long-term clients

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Yesterday I talked to a previous client about a possible new job. He offered me to handle emails for one of his businesses on a straight-up commission basis.

At this point, a lot of copywriters would start running and screaming “Red flag!” But I got no muss with getting paid all on commission, at least with this client. I’ve worked with him already… he’s legit… and his business is making money and growing.

At issue is how much commission I would get paid. The client wrote:

“What’s the minimum amount you’d want to be making for the volume of emails that I’m proposing?”

Hmmm. That’s not a question I have a good answer to. So I thought for a minute. And I responded using a strategy that I saw described on Mark Ford’s blog.

Mark says he saw his client/partner BB (I assume Bill Bonner, the billionaire founder of Agora) using this strategy throughout his career.

It’s a way of negotiating that’s very simple, but effective if your main goal is a long-term relationship and a fair outcome for everyone involved.

I think Mark’s post explains it very well, so I won’t rehash it here. It’s worth reading if you find yourself negotiating prices with clients, and you hope to do business with them again. Here’s the link if you’re interested:

https://www.markford.net/2019/10/23/11059/?doing_wp_cron=1576003704.1623599529266357421875

Nicolas Cage’s shamanic sales secret

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I read today that Nicolas Cage has a hot new movie coming out.

It’s unlike any movie he’s done before.

And frankly, it’s unlike any movie anybody has ever seen.

But can that really be true?

Because it seems like in each movie, Nic Cage is basically playing himself. He screams, makes faces, gets mock-serious. And while the costumes and makeup are different in each movie, the audience is basically coming to see Nic Cage, making a spectacle of himself.

It’s an acting system Cage has described as “Nouveau Shamanic.” And his new movie should take this to the 3rd power. Literally.

The movie is called The Unbearable Weight of Massive Talent. It will be about Nic Cage, and will star Nic Cage, playing Nic Cage. If that’s confusing to you, here’s a brief description from an article in The Independent:

“In the film, Cage apparently talks to an egotistical Nineties version of himself, who mocks his future self for not being famous, as well as for making too many low-budget films.”

Who will go see this stupid new movie? ​​Probably lots of people will. Maybe even I will, because, over many years and many ridiculous movies, I’ve gotten comfortable with Nic Cage and his antics, and I can look at the guy and feel better about myself.

​​As on the big screen, so on the little screen. What I mean is, the same thing that holds for Hollywood stars is true for any other kind of business too — including online businesses.

The fact is, your customers aren’t really buying the product or service that you’re selling. Your customers could just as well buy one of a number of alternatives, which would probably work as well or better than what you’re selling.

What your customers are actually buying is you. And if you can build up a strong enough fan base, or brand, or “Nouveau Shamanic” spectacle, then you will be able to keep selling people tickets to your show, for many years to come, just because you’re you.

Averting the condom catastrophe

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A few months back, I was driving on the highway when I realized I’d seen the same billboard over and over. I forget exactly what it said, but it was along the lines of,

“It’s time for great HEX”

It turns out Hex is a new brand of condoms. They claim to be revolutionary and better than the status quo.

Now, maybe Hex condoms really are so good that they will spread by virtue of the product quality alone. That’s their best shot, because their marketing sucks.

Condoms suck in general, and you’ve already got a bunch of brands out there. Trojan and Durex are the default, depending on where you live. Then there’s Magnum for the talented guys, as well as a bunch of alternate no-name brands you might pick up in a convenience store at 2am.

So there’s no place for Hex — unless they find one for themselves through clever positioning.

Maybe they could try to be the “Apple of condoms”… or the condom what women prefer… or the condom for the climate-conscious. But all those ideas are contrived. The real place to look for positioning is in the market.

And if you do any reading about the, ahem, male performance market, which I’ve done plenty of, you will see that most men do not complain that their condoms aren’t classy enough… or that they turn women off… or that seagulls are choking on runaway rubbers.

But there is something that many men do complain about.

Fact is, there’s a significant group of men who simply lose their erection once the condom comes on.

So maybe Hex could target the guys with poor blood flow. “Hex, the condom for pre-diabetics and others who want to avert the condom catastrophe.” Hex could even copy one of the most successful positioning campaigns of all time and say,

“Hex is only no. 4 in condoms. So why go with us? We make you harder.”

Now that’s a campaign I’d like to see as I’m driving on the highway next summer. Maybe I’ll write to the CEO of LELO, the company that produces Hex, and suggest it.

The fact is, long gone are the days when you could simply say, “New product! Why don’t you try it?”

If you are promoting something, you need a new mechanism into the mind. And often, that’s not found in the product itself. Keep this idea in your own mind, and you’ll have a much better shot at success, whether you’re promoting your own condom brand or something less shocking.

Marketing devil-inspired price negotiation tactics

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A girl I met this summer wrote me yesterday to ask for advice on pricing a copywriting project:

“Wassup busy bee? 🙂 i need professional advice. How much should i ask to write anarchist articles for commercial purposes (meaning to sell t-shirts) :))? Is 100 dollars per 500+ words too much or fair? How much would u ask for?”

Anarchist articles?

To sell t-shirts?

At $100 for 500 words?

That’s not the pond that I play in.

Because I made a deal with the marketing devil a long time ago.

Yes, I sold my soul to him. In exchange, I get a series of ever-higher-paying contracts, working on ever-more interesting projects.

So the particular rates I would charge at this moment are really no use to this girl, or to you in case you’re wondering what you should be charging for your work.

But I told her something that the marketing devil taught me. And you might find it useful as well.

It’s a super simple price negotiation tactic. It works 100% of the time to get you an outcome you can be happy with. And it goes like this:

1. Ask yourself, “How much would it take to honestly make this worthwhile for me?”
2. Make your potential client this offer.
3. If it works for them, great. If not, or if they try to haggle with you, tell them, “Thanks, but it’s not right for me.”

But maybe I hear you complaining, “This isn’t negotiation at all!”

And it’s certainly not the kind of nickel-and-diming, car-lot tactics you can read about in hundreds of Medium listicles. But like legendary copywriter and entrepreneur Mark Ford wrote recently:

“The difference depends on understanding that in business there are two fundamentally different kinds of negotiation: transactional and relational.”

In other words, if you use my simple devil-inspired price negotiation tactic, and you end up doing business with this client, you’re on good footing to form a long-term relationship that both sides are happy with.

And if you don’t end up doing business with them, for whatever reason (they can’t afford you, or they don’t value you enough, or they are simply lowballing jackasses), then you don’t really have a negotiation problem.

You have a lead generation problem. Which is another topic, for another day. For today, let me just say I solved my lead generation problem in the beginning by going where everybody says you shouldn’t go.

And that’s Upwork.

In case you want to see how I made very good money by dealing with quality clients that I actually landed on Upwork, then check out the following:

https://bejakovic.com/150-dollar-per-hour-freelancer

How to approach a mentor

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Do you know the story of puss in boots?

I won’t retell it all here, but the gist is that puss gets his owner, a poor and hopeless young man, in favor with the local king.

Puss does it by showing up to the king’s door over and over, bearing gifts. One time it’s a dead rabbit. Another time it’s some partridges.

“A gift from my master,” says puss in boots, “the Marquis of Carabas.”

And then one time, when the king is going for a friendly Saturday afternoon ride by the riverside, puss in boots makes it seem like the Marquis of Carabas is drowning there.

“Save that man tout suite,” the king orders, “for he is a gentleman who has sent me many fine gifts.”

And so the poor and hopeless young man is transformed into a real-life Marquis of Carabas, for a while at least.

I’m telling you this fairy tale because it has to do with cold emails. Specifically, emails (or LinkedIn messages, or Facebook, or whatever) that you might send to somebody that you hope will be your mentor.

It’s a good idea to approach your mentor bearing valuable gifts. After all, it worked so well for puss in boots. But a dead rabbit or a bunch of partridges don’t impress today like they did back in puss’s time.

So what can you do?

Well, you might try offering helpful tips… or ideas… or even your services for free. And I’m sure those things can all work on occasion.

But here’s a better approach. I heard about it today while listening to an interview with Steve Schwartzman, who happens to be one of the world’s 100 richest men, and also somebody who’s in charge of about half a trillion dollars’ worth of assets.

When asked what thing of value a poor and hopeless young man should give as a gift when approaching a powerful mentor, Schwartzman said:

“Well it’s interesting. One thing of value is flattery. People’s self-images are always unpredictable to the person who’s approaching them. And the fact that you’re approaching them helps them self-validate. The fact that you’ve thought about that person, and there’s something you do want to learn from them, there’s some piece of advice you want. All you have to do is say in effect, ‘I want to go on a journey. I want to change what I’m doing or i want to achieve something. You’ve done a bunch of that… Can you describe to me how you do that?'”

So there you go, young puss. Go out and flatter people.

Or rather, take an interest in what they are doing, and approach them with genuine interest and genuine compliments. Do it over and over. Next thing you know, you might be transformed into a real-life Marquis of Carabas.

Get yer own Falkor

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One of my favorite books as a kid, and even now, is The Neverending Story.

If you’ve seen the Hollywood movie that was made from the book, you might know there’s a boy in there named Atreyu.

Atreyu lives in the great land of Fantastica, and he has to go on a quest all around the borders of this immense kingdom.

How’s a little boy gonna be able to cover these vast distances?

No problem. Atreyu hitches a ride on the back of Falkor, a benevolent, furry, white “luckdragon” who happens to fly at great speeds.

Now I think this is a good image to keep in mind in your own life as well.

Because as much as I like The Neverending Story, these days I like another book even better.

It’s called Positioning, and it’s written by Al Ries and Jack Trout.

Positioning is all about how to market products, and how to find a mental slot for them in your customer’s mind.

But one part of the book also talks about positioning yourself, and achieving personal success. And it’s here that Ries and Trout make a throwaway comment that I found very meaningful:

“The truth is the road to fame and fortune is rarely found within yourself. The only sure way to success is to find yourself a horse to ride. It may be difficult for the ego to accept, but success in life is based more on what others can do for you than on what you can do for yourself.”

Like I said, I found this very significant.

Maybe because my tendency is to try to always do everything by myself. It’s very natural to me. But it’s also very slow and ineffective.

So if you too have similar tendencies, then maybe you’ll get some value out of the Ries and Trout quote above.

And maybe you’ll consider finding yourself a horse to ride. Or even your own Falkor.

The counterintuitive secret of effective positioning

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Today, I ate a handful of jujubes.

These are little fruits, kind of like dates. I grabbed some from a bowl and as I went to wash them, one jujube fell, hit my foot, and rolled off under the counter.

“No matter,” I said to myself, “I’ll get it in a second.”

A second later, I looked under the counter. The jujube wasn’t there.

I kept looking. Nothing.

I reached under the counter to see if it was there but I couldn’t see it. Nothing.

I changed positions to see if I could see it better from a different perspective. Nothing.

Maybe you know this maddening.

W​​hen you think you know where to look for something, but it’s not there.

Maybe it’s your keys, which should be at the bottom of a bag… except they’re not.

Or somebody’s name, which almost certainly starts with the letter “A”… except no “A” names sound right.

Or maybe it’s even a marketing situation.

Such as, for example, deciding on how to position a product, a brand, or even a person.

Many business owners think they know where to look for such positioning intel.

After all, it seems very intuitive that the positioning for their products must be hidden somewhere in the product itself.

Similarly, the positioning for their personal business must be lying somewhere inside their own person.

So they keep looking and looking…

And even though they are sure they are looking in the right place, they never find the positioning answer they’ve been searching for.

Why is that?

Simple. Because the positioning they are searching for won’t be found inside their product, or even inside themselves.

Instead, it’s found in a rather counter-intuitive place.

Maybe you know what I have in mind.

And if you want my help in searching in this counter-intuitive place, and helping you come up with a winning positioning strategy for your business, brand, or even person, then simply write me an email and we can talk.