I see this mistake every day of the week.
It's not just beginners who make it and believe me, I've made it too - and long after I should have known better.
If you want to know what the mistake is – and remember it so that you never make it yourself - the answer is in the question and staring you right in the face: "marketing."
I was born cocky.
When I was 17 years old, running a Baumfolder in a printing plant for $1.60 an hour ($64 a week; $3,328 a year -- before taxes!) – I was absolutely convinced I could write more compelling copy than I saw in the direct mail packages they had me working on ...
At 23, as I slaved over a hot IBM Selectric at an L.A. agency for $15,000 a year, there wasn’t a doubt in my mind that my sales copy was by far the strongest stuff in the mail – probably the hottest copy anybody had ever written in the entire history of the direct response industry, period ...
I'm a big fan of creating multiple streams of passive income. My personal goal is to have at least 100 checks coming in each month from a variety of sources.
Just like a mutual fund, it is better to have LOTS of people giving you money than just one or two. This way if one of the sources dried up, you're not screwed.
My last event in LA I used an example. I asked people in the audience to shout out some of their payments that they have to make each month.
Why People Raised With A Silver Spoon In Their Mouth Seldom Develop That Fire-In-The-Gut Motivation.
I have now lived long enough, survived enough adventures, and observed enough other clueless people get a clue… that I can safely say everyone has a handful of moments in their life that shape who you are and how successful you will be.
Most of these life-changing moments involve some sort of crisis or problem. Finding true love is great… but it’s now you handle heartbreak, for example, that really defines you.
Nearly every super-successful entrepreneur I’ve met started out dead-broke, too. People raised with a silver spoon in their mouth seldom develop that fire-in-the-gut motivation necessary to achieve great things.
One of the most frequently asked questions that I hear, especially coming from my more entrepreneurial clients, is, “Why would anyone ever buy this franchise?”
This question is usually followed by a series of observations. “Anyone could do it.” “There’s nothing to this business.” “I don’t think this business can be franchised.” And of course, the final underlying question, “Why wouldn’t someone simply do this themselves?”
Their concern is a valid one. Some concepts are simply not well differentiated. Moreover, some of them have low barriers to entry.
Direct selling of products such as cosmetics and cookware may not be the easy path to riches. But the flexible hours have made this the work of choice for some 14.1 million Americans, most of them women.
Though there are those who earn six-figure incomes from selling person-to-person or through the home parties that characterize this business, that is more the exception than the rule. More typical of the $30.5 billion industry, which includes names such as Avon, Tupperware, Amway and the Pampered Chef, is part-time or occasional involvement in distributing the products to friends, family and acquaintances. For many, it's a way to earn a bit of extra money during the holiday season or when households are pressed for cash.
Over the last few days I have been getting pounded by IM’s and emails from AM’s (affiliate managers) and brass from networks, most of whom I’ve never even heard of. Why? God only knows. I think someone dropped my name and email info in an atricle or post somewhere, but I have yet to find it and have them remove it. The reason they are after me? Not because of my forum or blog, but because I am labeled as a super affiliate. But what is a super affiliate really? And why is this label being thrown around more and more than ever before? Because it’s the spot that every affiliate wants to be in, and that every ad network wants to attract into it’s network.
When managing sales people you'll actually be dealing with three distinctly different situations.
The first was the poor performers and all the problems that they bring to an organization. But now I would like to shift our attention to the group that is mostly ignored my management which are the high performers.
If you're looking for a prompt increase in sales a good way to get it is to divert some attention from the mediocre group to the high performance group. It's much easier to coach a successful person to even better performance than to get a mediocre performer to begin succeeding.
There are marketing lessons everywhere you look.
In the (hopefully) final chapter of my unpleasant encounter with the cable company, I was reminded that a “tier” system is almost always in place when you’re dealing with businesses that have a product or service you want.
This mostly-hidden world of power is what fuels conspiracy theories and gets best-selling thrillers published.
And it explains something critical about customer management that entrepreneurs often miss.
There are three levels of interaction with a customer. If you are stictly a direct mail or online operation, you will never see most customers at all. As a freelancer, I have to “go deep” with a client, but it’s almost always on the phone — so, while I get to know my customer intimately through long, frequent chats, I wouldn’t recognize them on the street. Lastly, if you are, say, a doctor or a retailer, then you operate in the same space as your customer, face to face. You can see, hear, touch and smell them.
Now, the biggest blunder most businesses make is to ignore the lifetime value of a customer. These “future blind” businesses operate as if the current transaction is the only one that matters. So they get short-sighted about the long-term effects of customer satisfaction.