Business Lyceum

e-Letter
Practical Instruction in the Arts and Sciences of Making Money


Editor/Publisher:  J.F. (Jim) Straw

MARCH 2006

Greetings & Salutations:

I keep finding more and more Questions I have been asked  over the past couple years ... can't seem to run out of them - SO ...

Here's some more ...

Q:  Would you ever allow people access to your swipe file?

A:  I do ... all the time - but - none of those files ever leave my office.  And, I don't make copies for anyone unless they are a paying client for my marketing advice at $5,000 per day.

Q:  How many countries do you sell to? Can you really sell to non-native speakers of English?

A:  We have customers in over 70 countries.

As an old German importer told me nearly 40 years ago, "English is the language of business."  The one time I did try translating my advertising into another language, I ended up using a profane phrase in the colloquial language. -- Never translated anything again.

You should also consider a problem faced by a friend of mine.  He had the sales materials for his book translated into Spanish - but - his book was in English.  His customers bought from an ad in Spanish, then returned the book when they couldn't read it in English

Q:  Your bio states that you once sold the "Grit" newspaper.  Did that experience in any way prepare you for your career in direct sales, and more importantly perhaps - internet marketing?

A:  ALL business is only about selling.  Therefore, each and every sales experience is one more stone in the foundation of any person's business.

How much is a warehouse filled with 1,000,000 widgets at $5 each worth? -- $5,000,000?? -- Not hardly, unless you sell them.

The ONLY thing any entrepreneur needs to learn is how to sell ... in every way possible.

Q:  What can I do to make my advertising stand out from others?

A:  What kind of product?  What audience?

In the advertising world, there are no "one size fits all" answers.

Sadly, most  people think they need to "stand out" ... read that "be  different" ... in order to be noticed.  That's why kids wear funny clothes and weird haircuts; so they will "be different"  from their parents' generation - but - if you  will notice, in "being different" they all seem to start looking like each other.

If there is a secret, it is to use your advertising to  "sell" your products  or services. -- Most advertising  now days doesn't "sell" anything ... it just  glorifies the advertiser.

The "key" to standing out from others in your field of endeavor is your use of "words." -- Over the years, I have often said, "Give me the right words and I can print my ad on toilet tissue and make sales."

So ... your best bet is to create an intriguing  headline for your advertising and have a Unique Selling Proposition for your business, product or service.

Rather than repeat myself, you should read the back issues of my e-Letter on those subjects ...

Feb00.html

Jun00.html

Jan01.html

If you follow the guidance in those articles, you will soon be "standing out" from all the others because you will be "selling" instead of  just "advertising."

 Q:  What are the key selling words and expressions to sell to:  A) Individuals   B) Companies ?

A:  Shhh! -- Don't tell anybody. -- There are really NO "key selling words."

I know.  I know.  Almost all of the gurus can give you list after list of "key words" that are supposed to be the biggest selling words in the world - but - the truth is, most of them have been so over used they have little, if any, effect on the  "buyers" ... although those words will very effectively draw in the mooches and freeloaders.  Which is why most advertisers get more "lookers" than they do "buyers."

Beyond that, believe it or don't, when you use those "key  words" ... like the word FREE ... most of the real buyers won't believe it anyway.  So, just use the tried and true method of advertising and, in your ad  ...

Tell your reader what you are going to tell them.

Tell them.

Then, tell  them what you told them and - MOST IMPORTANTLY ...

ASK them to do what you want them to do (i.e., buy today, come by to visit, whatever).

By the way, there is absolutely NO difference between selling to "individuals" and selling to "companies." -- Think about it logically for a moment. -- In every company, there is an "individual" who  makes the buying  decision.  That "individual" is motivated the same as any other "individual."  Just direct your  sales appeal to that "individual" ... NOT the company.  (A company;  any company, is only  made up  of "individuals.")

Q:   When you are selling to companies, often with purchases reviewed at several levels, what is the best approach?

A:  Again ...  there is absolutely NO difference between selling to "individuals" and selling to "companies," even when the final purchase has to go through several levels of approval.

Why? -- Because, you only have to "sell" whatever you are selling  to one "individual."  After that, the "individual" you sold to will carry their  purchase  decision through to the next level.  In order  to justify the value of their position, they will "sell" the next higher level "individual."  Then, that "individual" will sell  the next higher "individual." -- So it will go  up the decision making chain with each level "selling" to the  "individual" above them ... forever justifying their position in the decision making chain.

Of course, if  you are invited to participate in the presentations to each higher level, all you need to do is "sell" the  "individual" at each consecutive level. -- You can't sell to the "company" because it is only a legal formality, not a living breathing "individual."

BUT ... unless you are  selling a really high-priced product or service, you will never have to go beyond the first "individual" to whom you are directed.  In "companies," some "individuals" are either employed as; or designated as, "buyers."  It is their job  to "buy" stuff for the  company. -- If those "buyers" weren't trusted by the "company" to do the "buying," they would NOT be "buyers." -- When you sell to that "individual," the company is buying and the decision will go no further than that buyer's desk.

Q:  Which home business can we start with minimum capital and with no experience?

A:  You really need to read my Special Report, "Seventeen  (17) Real Home-Based Businesses You Can Start & Operate From  Your Home." -- Most  of them can be started with  little or no capital ... requiring only time, effort & elbow grease.  No "experience"  is required - AND ...

Best of all, you can download it FREE, at: 

Q:  Do you have any pointers for doing business (import/export, mailorder ...) with emerging Asian markets (China, Russia ...)?

A:  Why does everyone seem to think that "International" business is shrouded in mystery?

Doing business in any country is only a matter of either having something to sell to them, or something you want to buy from them.  Then, you just contact the buyers, or sellers, in that country and start doing business  ...  buying or selling.

But ...  but ... but, I think you just  said, "Yeh, but, aren't their laws different?  Don't I have to know those laws?"

YES ... their laws may be different but, NO you don't have to know  those laws.  It is up  to your contact in that country to know whether or not he/she can either sell to you, or  buy from you. --  If they buy something from you, they will  tell you what laws you  will need  to comply with to ship the  product to  them. -- If you buy something from them, they will advise you on any laws you will have to comply with to buy their product.

Q:  I have seen some decent areas locally where traffic is real thick, and there are grassy areas near the road where a guy could possibly set up a few tables and sell some things.  How would a guy go about doing this without going to jail?

A:  All ya gotta do is ASK. -- Go to your local City Hall and ASK "Who handles the roadside rights of way?" -- You may have to go through 2 or 3 paper pushers before you can find someone to answer the  question. -- Contact whoever handles the roadside rights of way and ASK them about putting your sales tables in that area.  Maybe you can.  Maybe you can't.  And, it might only require that you pay some kind of licensing fee.

BUT ... we wary.  If the "traffic" is moving along the "grassy area," you might not do very well because people aren't going to pull over and stop in a fast moving traffic area.

Q:  What in your opinion are the most profitable niches currently on the internet?

A:  Who is the most beautiful woman in the world?

The most profitable niche  on the Internet is probably "porn" ...  so, now that you know, are going  to go after that market?? -- Don't be silly.

As I just demonstrated, the most profitable niche may NOT be something you want to do.

Every "niche" market has its success stories ...  and its failures.

Your "niche" can be "profitable" for you ... once you find it ... but don't depend upon anyone else; even me, to find  it for you.

Q:  In what ways is selling online more difficult than selling by mail order?

A:  It really isn't ... once you discover, as I have, that the Internet is just another advertising medium.

As in mailorder, you just do the two-step.  Use an "ad" ... or email message ... to drive interested  people to the sales page.  Doesn't  matter whether it's your web page , or a web  page  for something for which you are an affiliate.

Matter of fact, Internet marketing is somewhat easier that mailorder  from the standpoint of making your  mailings.  Where it takes days ... even weeks  ... to prepare and mail a mailorder solicitation,  the same can be done by email in just hours (even minutes) - but ...

In mailorder, you can target your mailings down to finite demographics.  On the Internet, you have to  depend on very, very generalized; non-specific,  demographics for your mailings. - BUT ...

 
Q:  How might the concept of being a "finder" be applied to the internet?

A:  Believe it  or don't, that's all "affiliates"  are  ... they're just "finders."  They don't  "sell" anything,  all they do  is send possible buyers to the person having something to sell.

As far as earning Finder's Fees on the Internet ... the Internet is ONLY a resource.  You can not use it to "earn" your fees. -- As explained  in my  course ... ... most people who set  out to be finders actually earn fees - but - they never get paid.

Earning fees and getting paid are two different things.  If you earn a fee, but don't get  paid,  you're still an amateur.

Use the Internet for research but NEVER to set-up a fee agreement.

Q:  Is there a way to make money online without mortgaging the house?

A:  There most assuredly is.  Just become an Affiliate Marketer.

Start up costs are minimal ... you don't have to "sell" anything ... and, you can start even if you don't have a web site.  You can even use "Free" web sites to capture email address or redirect people to the  promoter's sales page.

Usually,  all you need  to do is sign  up as an affiliate (no cost) ... then, direct people to the  promoter's sales page.  You  don't have to "sell" anything  ... let the promoter do that and pay you the commission.

Q:  Does email marketing work in a B2B context?

A:  Email marketing works, no matter what you are marketing, or to whom  you  are marketing.

The secret (if there is such a thing) is to culture  an  email list of the types of business to whom you  will be marketing.  Then, build a rapport with them through your emails.

It works the  same no matter what you choose to market.

Q:  What advice would you give someone who is just getting started at putting together an online business?

A:  Don't get involved in trying to be the fanciest web site on the Internet.

At least once a month, I hear  from some aspiring web designer offering to make my "amateur" web site look  more professional.  -- Little do they know.  I probably make more money  in a week from  my "amateur"  web  site  than they do all  year from their web  designing.

Forget your own ego ... or desire to get out of working by automating everything.  Think ONLY about "serving your customers" - and - never forget, behind every email address  is a real, live person, just like you.  Treat them as such.

AND ... do yourself a favor, read my Affiliate Marketing course. -- The others tell you "what" to do.  I teach you "how" to do it.


Now, let's do some ...

Questions & Answers, Comments & Other Good Stuff from my readers!


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Instructions to place your ad are in the Newsletter.



Robert Coates wanted to help his friend  ...

" A good friend of mine has been working very hard for over a year in the "oil brokering" business and has yet to make any money.  He is smart, is a good negotiator, and works hard.  This makes me believe that maybe the whole "oil brokering" business is a big lie. -- In fact, one guy that sells a manual on the business says as much as it is a "fake business."  (i.e.;  "If you are caught up in the insane, fake world of ICPOs, FCOs, LOIs, Mandates, RWAs, Gross and Net Discounts and millions of barrels of impossible out of market nonsense, then you are not at all dealing in the oil business and are most definitely on the wrong track.") -- I'd like to hear your opinion of this. -- I'm assuming that you have either done some of these oil deals or at least are aware of the business. -- Have YOU written any materials regarding this business?"

Robert:

Although I have never participated in any oil deals, I have observed a ho'bunch  of'em.

By  and large, they ARE "fake" - but - the few people I have known who have closed those deals have either had a great deal of experience in the  oil business - or - they have a close friend or associate who has.

Unless you friend has that kind of experience; or knows someone who has, he will be wasting his time chasing rainbows.



Jerald Tuck, Jr. had a question ...

"I have a question that's really got me stumped.  I really enjoyed your Finder's course, and feel I have a good grasped of the material.  I even test my knowledge with the Finder questions that comes through your newsletter.  I play a guessing game where I try to imagine how you would answer the question. -- I have been on point so far. -- The biggest obstacle I have to make this business work is not being available during business hours. I'm holding down a day job myself.  Which only leaves my evenings free. -- Can you offer any suggestions for someone in my situation?"

Jerald:

Simple ... just do your "research" on line to do your  finding - but - do everything else by mail.  That's the way the "real" professionals do it  anyway.   Only the amateurs (who never get paid their fees) try to do it by phone and on the Internet.



Sam Mantell was disappointed ...

"A few months ago I purchased your finders fees book from one of your affiliates.  After reading it twice I can't help but wonder why you charge $100 for this outdated book.  While a few years ago finding a nazi bayonette was a real job, I found it in seconds with google. -- The internet is the modern version of finding, and many do earn money with affiliate programs. but the way you've outlined earning finders fees is not practical today, with all respect to you .   I feel that taking my $100 for this info isn't justified."

Sam:

Although my course has increased in value exponentially, it has sold for $100 since 1978 ... with  over 50,000 copies sold.

You can use the Internet for searches, just as you would a telephone - but - the reason most people never make money as a Finder is simply because of the attitude you have displayed.

If you won't take the time to do it the right way ... the way it has been done for over 50 years and is still done  in the "real" business world  ... you'll  never do it.



Dan Tierney didn't know where to find it ...

" You really know what you are talking about so I thought I'd ask you this:   Where can I get a list of dropshippers, wholesalers, liquidators, closeout places where I can buy products for a low enough price so that I can actually make some money when I resell? -- I really need some dropshippers at this point because I don't have any capital to buy from wholesalers. -- OR: How do I learn how to find the real good ones myself? -- What are your insider tips & tricks that I need to know to buy from the above sources so that I can resell on eBay and from my own online store (and not get ripped off or scammed)? -- In your opinion, is my idea even a sound idea?"

Dan:

For 20 years, the bible of the closeout industry is the "Closeout News" -- http://www.thecloseoutnews.com/

You can learn about setting up with drop shippers  in the back issues of my eLetter:

archives.html


Well ... that's it for this month. -- In order to make every issue responsive to YOUR needs, please send me your questions; or tell me what sources or resources you need to build your business; or give me any thoughts you want to share with your fellow members.

Believe it or don't ... I ain t a mind-reader. -- If n you doesn't tell me what you need, I may never touch upon the information, sources or resources you need.

This is your publication for you to use to your benefit ... I am just your moderator.

 Until next month, keep well ...

J.F. (Jim) STRAW
Grande Panjandrum


Thoughts For The Month!

"There are those of us who are always about to live. We are waiting until things change, until there is more time, until we are less tired, until we get a promotion, until we settle down, until, until, until. It always seems as if there is some major event that must occur in our lives before we begin living." -- George Sheehan

"Being able to convince yourself that you'll somehow achieve all your goals 'someday,' is what keeps so many people right where they are - far from where they want to be." -- Jason Gracia "The Motivated Mind"

MotivatedMind


Can you stump the old master? -- Betcha can't!

Over the past 40 years (man and boy), I have made bundles of money in direct selling, service contracting, wholesale merchandising, entertainment (I was a professional Trumpet player, vocalist & Radio Announcer), freight forwarding, import/export, retail merchandising, warehousing, real estate, electronics manufacturing, finder's fees, closeout merchandising, financial brokerage, business consulting, steel fabrication, gold and coal mining, offshore banking, mailorder, writing, and publishing. -- That being the case ...

No matter what business you're in ... whether you're just starting, well on your way, or at the top of the heap ... I've probably been where you are, done what you are doing. -- So ...

Anytime you have a question about 'how' to do something in your business - or - if you have any comments about anything I've said in issues of this e-Letter; or if you want to add your 2 cents worth ... just "ask" me or "tell" me.

Send your Questions, Comments or 2 Cents Worth to ...

with "Question" - "Comment" - or, "2 Cents Worth" in the SUBJECT.

If I, personally, don't have an answer to any question you may ask, I will contact some of the professionals in your field of endeavor (I will probably know one or more personally) to get the real 'skinny' for you.

Note: If you want to ask a question anonymously just tell me so when you send in the question. -- Nobody but you and I will know who asked the question.


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