NOVEMBER 2004 Greetings & Salutations: If I have been asked once, I have been asked a thousand times ...
NOVEMBER 2004
Greetings & Salutations:
If I have been asked once, I have been asked a thousand times ...
Well, actually, it should begin with how you think about who you are attempting to reach with your message. Some time ago, I received a sales letter that included the following (only slightly altered) introduction to the sales message ... Does your money always seem to run out before payday? So ... the pressure builds ... the bills pile up. -- You've stretched the budget until it sags. Even Superman wouldn't be able to make ends meet. -- You take a second job. -- Both husband and wife work. One of you is coming home from a job as the other leaves to go to a job. -- Whatever happened to romance? -- You're almost strangers. Instead of whispering sweet nothings to each other in the night, you're bleary-eyed and fuzzy-minded as you argue over what went wrong with the great American dream. -- Dream? It's more like a nightmare! -- How can you keep on with the endless struggle. -- Life is a long, dark tunnel with no light at the end. -- Isn't it time for a change? The letter went on to espouse the virtues of owning your own business ... setting your own hours of work ... spending time with your family ... taking vacations where ever and when ever you wanted to ... living where you choose to live ... without commuting to work, an expensive office setup, or employees. Although the author of the introduction to that sales letter was trying to impress upon the reader that there is a way out of the two-income-family rat-race ... by starting a home-based business ... the introduction was directed to the wrong people. -- People who, as specifically defined in the introduction, have neither time nor money to spend. The negatives of life ... as specifically defined in that introduction ... can only bring a reader in those circumstances to think even more negatively about their possibilities. And, buying a manual about starting a home-based business only means spending money (they don't have) in order to spend more time (they don't have) to create another income (maybe). By focusing the readers attention on the negatives, the author validates the reader s feelings of hopelessness. The reader then determines ... without reading further ... that without money (to buy the manual) and time (to do the business), there is little need to pursue a better future. If I were to rewrite that introduction, it would go something like this ... You Can Live The Life You Want To Live! Spend time with your family ... live where you want to live ... take long vacations when and where you want ... set your own hours! By focusing the reader s attention on the positive possibilities ... eliminating the known negatives in their life ... the promise of future salvation makes the reader ask the question, "How?" -- to which the sales message has an answer. The late, great P.T. Barnum once said ... "The great secret of success in anything is to get a hearing. Half the object is gained when the audience is assembled." Understandably, most of the marketing gurus focus their efforts on teaching you how to get a hearing ... how to write dynamite headlines ... how to use bullets ... how to use envelope teasers ... how to grab the reader s Attention, spark their Interest, flame their Desire, and ask for Action. But ... They seem to overlook the fact that they are directing 100% of your effort toward only half the requisite formula. Because ... as P.T. Barnum said ... Half the object is gained when the audience is assembled. When the marketing gurus finally ... if ever ... hit upon the subject of assembling an audience, they focus on mailing-list selection, demographic profiling, and lead generation. They either forget, or don't realize, that fully half the purpose of the ad-copy is to assemble an audience. Mailing-list selection, demographic profiling, and lead generation ... although easily confused with assembling an audience ... are really more in the realm of defining an audience. Once an audience has been defined, it still has to be assembled in order for your message to get a hearing. Actually, I think many of the marketing gurus really know about assembling an audience ... other than the mechanics of defining” the possible customers ... but, it really is a rather difficult concept to teach. -- So, let me use an easier example to explain what I mean by assembling an audience.” Here are three headlines for a sales letter about an up-coming Elvis* concert ... Attention: Rock & Roll Fans! Attention: ELVIS Fans! ELVIS!! Live! In Concert! * -- I know he's left the building - but - it is the most recognizable name I could think of. It would appear that all three of those headlines would get Attention - but, which one of them would do the most to assemble an audience. Let s take a closer look ... Attention: Rock & Roll Fans! -- includes everyone who considers themselves a Rock & Roll Fan - but - it excludes everyone and anyone who doesn't consider themselves a fan. The headline defines a general audience. Attention-getting - but - whose attention? Attention: ELVIS Fans! -- includes only those who consider themselves to be fans of Elvis - but - it excludes anyone who really isn t a fan. The headline, again, defines an audience - but - this time it is only a very small segment of the potential audience. Beyond that, both of those headlines might well turn-off some of its intended audience. -- Those people who might just enjoy some of the Rock & Roll music ... or some of Elvis hits ... but, subconsciously, they don't want to label themselves, or be labeled, fans. ELVIS!! Live! In Concert! -- not only includes Rock & Roll Fans and Elvis Fans, it includes those people who have only heard about Elvis ... people who enjoy seeing any performer or entertainer live ... people who enjoy going to concerts (of any kind) ... and people who like to socialize by attending public events - but - it would exclude those who didn t share any of the above mentioned attributes. The headline is inclusive enough to attract the attention of a huge audience ... with varying reasons to be interested ... and only excludes those who wouldn't be interested for any reason. By the way, nobody in the entertainment field would write such a sales letter to invite people to a live concert. -- I just used it as an example, in order for you to more easily understand the concept of assembling an audience. When I sit-down ... or stand-up, for that matter ... to write ad-copy for any kind of product or service, the first thing I do is define the audience from which my customers will come ... then determine how I can get them to assemble around my words. Sometimes, I use the definition of my chosen audience as the premise for my headline, bullets, and body-copy to exclude everyone else. -- Like a few years ago, when I wrote an ad for an Air Purifier used in trucks, I used the headline, "Truck Drivers Stink!" -- Since the product was specifically being sold to Truck Drivers, I purposely excluded everyone else. Other times, I use the definition of my chosen audience to include everyone who might have even the slightest interest in the product or service ... excluding only those who would have little or no interest at all. -- Like the lead-line I have used for over 14 years to sell subscriptions to our "WorldWide Business Exchange" newsletter, "If you have a few minutes, I'd like to tell you how I became a millionaire ... maybe it will help you in your business." -- Using that lead-line includes anyone, and everyone, engaged in a business of their own ... and those people who might want to be. Then again, I might use a non-defining headline that allows my audience to assemble itself ... like my "Self-Liquidating (Arbitrage) Loans" ... when I know there is an audience but I can t define that audience specifically. -- I simply let them define themselves and assemble by their own definition. Which ever method I use, my purpose is to assemble an audience ... an audience who will, hopefully, include enough people who will applaud my performance ... send money ... to make my efforts profitable. By the way, the Truck Drivers Stink! ad got a lot of comments ... good and bad, positive and negative ... but it didn t make any money because the product was over-priced (a point I brought to my client s attention before I wrote the ad). So ... no matter what the marketing gurus might tell you ... remember before your message can get a hearing it must FIRST assemble an audience. As I have said, over and over ... Ad-copywriting is more art than science. That s why all of us old masters are right ... and all of us are wrong. The sales letter introduction I quoted at the beginning of this letter defined the audience as those people in the two-income-family rat-race ... including only those people finding themselves in that particular, specific condition ... excluding everyone else. -- My re-write included those people, too -- as well as anyone else looking for better life. Thereby, I am assembling an audience of people looking for a way out of their personal rat-race ... whatever that rat-race may be (not just the two-income-family dilemma).
Well, actually, it should begin with how you think about who you are attempting to reach with your message. Some time ago, I received a sales letter that included the following (only slightly altered) introduction to the sales message ...
Does your money always seem to run out before payday? So ... the pressure builds ... the bills pile up. -- You've stretched the budget until it sags. Even Superman wouldn't be able to make ends meet. -- You take a second job. -- Both husband and wife work. One of you is coming home from a job as the other leaves to go to a job. -- Whatever happened to romance? -- You're almost strangers. Instead of whispering sweet nothings to each other in the night, you're bleary-eyed and fuzzy-minded as you argue over what went wrong with the great American dream. -- Dream? It's more like a nightmare! -- How can you keep on with the endless struggle. -- Life is a long, dark tunnel with no light at the end. -- Isn't it time for a change?
The letter went on to espouse the virtues of owning your own business ... setting your own hours of work ... spending time with your family ... taking vacations where ever and when ever you wanted to ... living where you choose to live ... without commuting to work, an expensive office setup, or employees. Although the author of the introduction to that sales letter was trying to impress upon the reader that there is a way out of the two-income-family rat-race ... by starting a home-based business ... the introduction was directed to the wrong people. -- People who, as specifically defined in the introduction, have neither time nor money to spend. The negatives of life ... as specifically defined in that introduction ... can only bring a reader in those circumstances to think even more negatively about their possibilities. And, buying a manual about starting a home-based business only means spending money (they don't have) in order to spend more time (they don't have) to create another income (maybe). By focusing the readers attention on the negatives, the author validates the reader s feelings of hopelessness. The reader then determines ... without reading further ... that without money (to buy the manual) and time (to do the business), there is little need to pursue a better future. If I were to rewrite that introduction, it would go something like this ...
You Can Live The Life You Want To Live! Spend time with your family ... live where you want to live ... take long vacations when and where you want ... set your own hours!
By focusing the reader s attention on the positive possibilities ... eliminating the known negatives in their life ... the promise of future salvation makes the reader ask the question, "How?" -- to which the sales message has an answer. The late, great P.T. Barnum once said ...
Understandably, most of the marketing gurus focus their efforts on teaching you how to get a hearing ... how to write dynamite headlines ... how to use bullets ... how to use envelope teasers ... how to grab the reader s Attention, spark their Interest, flame their Desire, and ask for Action. But ... They seem to overlook the fact that they are directing 100% of your effort toward only half the requisite formula. Because ... as P.T. Barnum said ...
When the marketing gurus finally ... if ever ... hit upon the subject of assembling an audience, they focus on mailing-list selection, demographic profiling, and lead generation. They either forget, or don't realize, that fully half the purpose of the ad-copy is to assemble an audience. Mailing-list selection, demographic profiling, and lead generation ... although easily confused with assembling an audience ... are really more in the realm of defining an audience. Once an audience has been defined, it still has to be assembled in order for your message to get a hearing. Actually, I think many of the marketing gurus really know about assembling an audience ... other than the mechanics of defining” the possible customers ... but, it really is a rather difficult concept to teach. -- So, let me use an easier example to explain what I mean by assembling an audience.” Here are three headlines for a sales letter about an up-coming Elvis* concert ...
* -- I know he's left the building - but - it is the most recognizable name I could think of. It would appear that all three of those headlines would get Attention - but, which one of them would do the most to assemble an audience. Let s take a closer look ... Attention: Rock & Roll Fans! -- includes everyone who considers themselves a Rock & Roll Fan - but - it excludes everyone and anyone who doesn't consider themselves a fan. The headline defines a general audience. Attention-getting - but - whose attention? Attention: ELVIS Fans! -- includes only those who consider themselves to be fans of Elvis - but - it excludes anyone who really isn t a fan. The headline, again, defines an audience - but - this time it is only a very small segment of the potential audience. Beyond that, both of those headlines might well turn-off some of its intended audience. -- Those people who might just enjoy some of the Rock & Roll music ... or some of Elvis hits ... but, subconsciously, they don't want to label themselves, or be labeled, fans. ELVIS!! Live! In Concert! -- not only includes Rock & Roll Fans and Elvis Fans, it includes those people who have only heard about Elvis ... people who enjoy seeing any performer or entertainer live ... people who enjoy going to concerts (of any kind) ... and people who like to socialize by attending public events - but - it would exclude those who didn t share any of the above mentioned attributes. The headline is inclusive enough to attract the attention of a huge audience ... with varying reasons to be interested ... and only excludes those who wouldn't be interested for any reason. By the way, nobody in the entertainment field would write such a sales letter to invite people to a live concert. -- I just used it as an example, in order for you to more easily understand the concept of assembling an audience. When I sit-down ... or stand-up, for that matter ... to write ad-copy for any kind of product or service, the first thing I do is define the audience from which my customers will come ... then determine how I can get them to assemble around my words. Sometimes, I use the definition of my chosen audience as the premise for my headline, bullets, and body-copy to exclude everyone else. -- Like a few years ago, when I wrote an ad for an Air Purifier used in trucks, I used the headline, "Truck Drivers Stink!" -- Since the product was specifically being sold to Truck Drivers, I purposely excluded everyone else. Other times, I use the definition of my chosen audience to include everyone who might have even the slightest interest in the product or service ... excluding only those who would have little or no interest at all. -- Like the lead-line I have used for over 14 years to sell subscriptions to our "WorldWide Business Exchange" newsletter, "If you have a few minutes, I'd like to tell you how I became a millionaire ... maybe it will help you in your business." -- Using that lead-line includes anyone, and everyone, engaged in a business of their own ... and those people who might want to be. Then again, I might use a non-defining headline that allows my audience to assemble itself ... like my "Self-Liquidating (Arbitrage) Loans" ... when I know there is an audience but I can t define that audience specifically. -- I simply let them define themselves and assemble by their own definition. Which ever method I use, my purpose is to assemble an audience ... an audience who will, hopefully, include enough people who will applaud my performance ... send money ... to make my efforts profitable. By the way, the Truck Drivers Stink! ad got a lot of comments ... good and bad, positive and negative ... but it didn t make any money because the product was over-priced (a point I brought to my client s attention before I wrote the ad). So ... no matter what the marketing gurus might tell you ... remember before your message can get a hearing it must FIRST assemble an audience. As I have said, over and over ...
The sales letter introduction I quoted at the beginning of this letter defined the audience as those people in the two-income-family rat-race ... including only those people finding themselves in that particular, specific condition ... excluding everyone else. -- My re-write included those people, too -- as well as anyone else looking for better life. Thereby, I am assembling an audience of people looking for a way out of their personal rat-race ... whatever that rat-race may be (not just the two-income-family dilemma).
Now, let's do some ... Questions & Answers, Comments & Other Good Stuff! I just had another email asking when one of my books was written -- in response ... "If I have not read a book before, it is, for all intents and purposes, new to me whether it was printed yesterday or three hundred years ago." -- William Hazlitt Since the methodologies I teach haven t changed in 30 years that I know of, I rarely; if ever, need to update them. Then again, I guess I could just do what the others do ... change the copyright dates on all my reports to 2004 and pretend they are all brand, spanking new ... written today. Nobody would know the difference ... except me.
Now, let's do some ...
I just had another email asking when one of my books was written -- in response ...
"If I have not read a book before, it is, for all intents and purposes, new to me whether it was printed yesterday or three hundred years ago." -- William Hazlitt
Since the methodologies I teach haven t changed in 30 years that I know of, I rarely; if ever, need to update them. Then again, I guess I could just do what the others do ... change the copyright dates on all my reports to 2004 and pretend they are all brand, spanking new ... written today. Nobody would know the difference ... except me.
Anony Mouse was doing a Gold deal but he didn't seem to understand what he was trying to do. -- So ... Here's the skinny on the Precious Metals business. Mouse: After reading through the information you provided, it appears there are some things you aren't aware of. To begin with, both "xxxx" and "yyyy" are in the same business. -- They are both refiners of precious metals. Both companies smelt and refine precious metals (gold, silver, platinum, etc.) from precious metal scrap, miners' bars, dore`, and concentrates. Once the precious metals have been refined, the refiners either ... 1) Send the refined precious metals back to the party for whom it was refined and charge that party for the refining and fabricating the metals into the form required (bars, wire, slugs, slag, etc.) ... usually the price for refining and fabricating are a percentage of the spot market price of the precious metal -- or ... 2) Buy the refined precious metal from the party for whom they refined it, at the current spot market price for that precious metal, LESS the refining fees. The precious metals purchased by the refiner go into their on-hand physical inventory. Those precious metals are then resold at the then current spot market price PLUS a fee for fabrication. Refiners make their money from the refining and fabrication of the precious metals ... NOT from the price of the precious metals on the spot market. Here's how it works ... Let's pretend the refiner has just bought 1,000 ounces of Gold at the spot market price of $350 per ounce. LESS the refining fees, they may have actually paid the party for whom they had refined the metals a cash price of $325 per ounce. NOTE: The prices are fictitious and the methodology has been simplified for illustration purposes only. Simultaneously, the refiner SELLS the same 1,000 ounces of Gold on the futures market at $350 per ounce (the spot price) PLUS the future costs of holding the physical product (the "future" price) ... let's say $375 per ounce. Whether the price of Gold goes up or down, the refiner loses nothing on the price of the Gold - but - still makes the refining and fabrication fees. Using our example again ... If the price of Gold goes up $25 per ounce, the refiner takes a loss of $25 per ounce on the future contract - but - gets the same $25 per ounce back on the sale of the physical Gold. On the other hand, if the price of Gold goes down $25 per ounce, the refiner makes $25 per ounce on the future contract - but - loses the same $25 per ounce on the sale of the physical Gold. Either way, the refiner makes a profit from the fabrication fees charged to the buyer of the physical Gold ... added to the spot market price for the Gold. Since both your buyer and your seller are refiners, they are working on the same market pricing. The selling refiner has already included their fabrication fees in the offering price - but - the buying refiner will only pay the current spot market price LESS their fees. You might ask, "What fees? They aren't refining the gold. It's already refined and fabricated into hallmarked bars." Any time a refiner buys precious metals in bars (hallmarked or not), they assay the bars by drilling a series of holes in the bars to determine the purity of the precious metals. Then the bars are smelted (melted down) to remove any impurities to determine the exact weight of the metal they are purchasing. -- The seller (even another refiner) must pay the fees for the assaying and smelting as a discount against the current spot market price of the metal. Why would a refiner assay and smelt an already hallmarked bar of precious metal? Think about it. -- How easy would it be for someone to "mark" a bar of Gold as "24k - 100 oz." when, in fact, the bar was really 18k ... containing 25% impurities. For those reasons the possibility of you selling Gold from one refiner to another is impossible. If you are going to be involved in buying and selling precious metals, you must look for buyers who have a "use" for the physical Gold ... jewelry and electronics manufacturers are probably your best bet. BUT -- BUT-- BUT -- remember, businesses that regularly "use" significant amounts of precious metals in their business are doing the same thing the refiners are doing. -- They are using future contracts in the opposite direction to lock in their costs in advance of when that precious metal will be needed for their use. About the only buyers you might be able to find would be small volume buyers who usually buy on the spot market for their immediate use. -- You might be able to save them some money by consolidating their orders and approaching a refiner - but - many of the refiners are already doing that themselves. Now you know why I warn Finders about getting involved in precious metal deals. -- I earned my stripes in the game when I owned a Gold mining operation. By the by, when a small volume user of precious metals has a need to buy, they go to as many refiners as possible and ask them to offer their best prices on a specific amount of metals; at a specific purity; in a specific form. They don't just buy it from anyone. Hope that helps you better understand the business in which you are getting involved.
Anony Mouse was doing a Gold deal but he didn't seem to understand what he was trying to do. -- So ...
Mouse: After reading through the information you provided, it appears there are some things you aren't aware of. To begin with, both "xxxx" and "yyyy" are in the same business. -- They are both refiners of precious metals. Both companies smelt and refine precious metals (gold, silver, platinum, etc.) from precious metal scrap, miners' bars, dore`, and concentrates. Once the precious metals have been refined, the refiners either ... 1) Send the refined precious metals back to the party for whom it was refined and charge that party for the refining and fabricating the metals into the form required (bars, wire, slugs, slag, etc.) ... usually the price for refining and fabricating are a percentage of the spot market price of the precious metal -- or ... 2) Buy the refined precious metal from the party for whom they refined it, at the current spot market price for that precious metal, LESS the refining fees. The precious metals purchased by the refiner go into their on-hand physical inventory. Those precious metals are then resold at the then current spot market price PLUS a fee for fabrication. Refiners make their money from the refining and fabrication of the precious metals ... NOT from the price of the precious metals on the spot market. Here's how it works ... Let's pretend the refiner has just bought 1,000 ounces of Gold at the spot market price of $350 per ounce. LESS the refining fees, they may have actually paid the party for whom they had refined the metals a cash price of $325 per ounce. NOTE: The prices are fictitious and the methodology has been simplified for illustration purposes only. Simultaneously, the refiner SELLS the same 1,000 ounces of Gold on the futures market at $350 per ounce (the spot price) PLUS the future costs of holding the physical product (the "future" price) ... let's say $375 per ounce. Whether the price of Gold goes up or down, the refiner loses nothing on the price of the Gold - but - still makes the refining and fabrication fees. Using our example again ... If the price of Gold goes up $25 per ounce, the refiner takes a loss of $25 per ounce on the future contract - but - gets the same $25 per ounce back on the sale of the physical Gold. On the other hand, if the price of Gold goes down $25 per ounce, the refiner makes $25 per ounce on the future contract - but - loses the same $25 per ounce on the sale of the physical Gold. Either way, the refiner makes a profit from the fabrication fees charged to the buyer of the physical Gold ... added to the spot market price for the Gold. Since both your buyer and your seller are refiners, they are working on the same market pricing. The selling refiner has already included their fabrication fees in the offering price - but - the buying refiner will only pay the current spot market price LESS their fees. You might ask, "What fees? They aren't refining the gold. It's already refined and fabricated into hallmarked bars." Any time a refiner buys precious metals in bars (hallmarked or not), they assay the bars by drilling a series of holes in the bars to determine the purity of the precious metals. Then the bars are smelted (melted down) to remove any impurities to determine the exact weight of the metal they are purchasing. -- The seller (even another refiner) must pay the fees for the assaying and smelting as a discount against the current spot market price of the metal. Why would a refiner assay and smelt an already hallmarked bar of precious metal? Think about it. -- How easy would it be for someone to "mark" a bar of Gold as "24k - 100 oz." when, in fact, the bar was really 18k ... containing 25% impurities. For those reasons the possibility of you selling Gold from one refiner to another is impossible. If you are going to be involved in buying and selling precious metals, you must look for buyers who have a "use" for the physical Gold ... jewelry and electronics manufacturers are probably your best bet. BUT -- BUT-- BUT -- remember, businesses that regularly "use" significant amounts of precious metals in their business are doing the same thing the refiners are doing. -- They are using future contracts in the opposite direction to lock in their costs in advance of when that precious metal will be needed for their use. About the only buyers you might be able to find would be small volume buyers who usually buy on the spot market for their immediate use. -- You might be able to save them some money by consolidating their orders and approaching a refiner - but - many of the refiners are already doing that themselves. Now you know why I warn Finders about getting involved in precious metal deals. -- I earned my stripes in the game when I owned a Gold mining operation. By the by, when a small volume user of precious metals has a need to buy, they go to as many refiners as possible and ask them to offer their best prices on a specific amount of metals; at a specific purity; in a specific form. They don't just buy it from anyone. Hope that helps you better understand the business in which you are getting involved.
David Nghiem needed to know ... "Recently I received an inquiry from a possible buyer, in China, for a product that one of my sources probably has. This is great, because I stopped by the site yesterday to talk to one of the guys there about it. He said that I needed to get specifics on what the buyer wants. So, I'm doing that at the moment. -- One question though. How do you qualify someone as being the primary source or the primary buyer? So far, this contact (in China), has sent me photos as an example of what they want, and I'm asking more questions, directly, as to are they the primary buyer, or are they a broker. -- So far so good. I had no idea that a possible buyer would fall into my lap like that! -- So, how can I qualify properly the buyers in china, and in the future, all of my buyer leads overseas?" David: You are getting too involved in the deal. As a Finder, all you do is introduce the buyer to the seller. Since you have an interested buyer who has taken the time to send you pictures of what they need, you now need to get the seller to agree to pay you a commission (see my course, again). Once they agree to pay you a fee, introduce them and step away from the deal. By introducing the buyer and seller, they will be able to find out between them exactly what the buyer wants and what the seller has to offer. Ron Warrior was trying do something that couldn't be done ... "I'm a young man looking to make my fortune and career in exporting as a agent. I'm currently attempting placing a sugar deal together through a mandate who represents the actual sugar producer/seller. -- Question. I was told to ask buyers to forward me an LOI, if they where to be considered a serious buyers, but I do not have a clear understanding of what an LOI consist of? -- Would you please help me get a full understanding of this document or direct me as to further information on this matter?" Ron: A "Letter of Intent" (LOI) is a misnomer. That's not the way it is done in the real business world. There are very, very few instances in the real business world where a LOI is required; this isn't one of them. "Mandate" is another misnomer not used in the real business world. It appears you are working with either a raw amateur (who is trying to earn some fees himself) or a con-man. Sorry. Sukhie Mann was looking for ... "I am interested in selling clothing - fashionable, designer brands, the high-end material. I wondered if you know the best ways of getting the stock at the lowest possible price. -- Is it going to wholesale? If so, what's the best way you've found to find wholesalers? And, if you go 'above' them ... to the guys they deal with ... what's the best way of locating the 'prime source'? -- I also heard agents are pretty good to find stuff for you. -- I suppose the answer would be the same in pretty much any industry, too - clothing, or other goods. -- Cheers for all your help. Much appreciated. " Sukhie: You can contact any of the manufacturers (prime sources) directly - but - since you will most likely be selling at retail in a shop, you probably shouldn't even attempt to deal with them directly ... BECAUSE ... the manufacturers will require that you buy their clothing items in gross lots. Since you wouldn't want to have 144 dresses all alike on display, your best bet is to look for wholesalers. What you might want to do is contact the manufacturers who offer to Drop Ship their clothing. Then, all you will need will be one "sample" dress in each style. Take the customer's order and have the dress drop shipped to them. You can find all the drop ship sources at: DropShip If you still want to contact the manufacturers, try the sources at: http://www.ThomasRegister.com David Powell had a question about Affiliate Marketing ... "Your book on Affiliate marketing, is jammed packed with good stuff not hype. -- I have a question. -- How does one retain the loyalty of his, I will call them customers to simplify, after they have went to the main directed link? Would they not be prone to give allegiance to the new found, or main guru?" David: Over the past 30 years in this business, I have learned one thing ... buyers of a certain product are buyers of similar products. Opportunity seekers buy from a wide variety of sources ... looking for the opportunity they want. The same holds true for buyers of any other specific product. If they buy fish hooks from one source, they will also buy fish hooks from other sources. You keep your customers' loyalty by offering them the absolute "best" products you can find for them. Never try to sell them any inferior or shoddy products. Never try to sell them something just because you can make a big commission. If you will read my course again, you will find that I emphatically stress the importance of always selecting the best products for your customers ... regardless of price or commission - and - never lie to them. Don't just make sales ... make customers. Shane Pettman wanted to know if he could ... "I bought your course on real estate options. Its great! -- I have one question. Can I still get an option on a property that is already listed with a real estate agent, since they already have a contract to sell the property?" Yes, Shane ... You can take an option on property that is already with an agent - BUT - the agent would be involved - AND - the agent usually doesn't want to take the property off the market for the option period. Best bet is to approach the owner and see if you can get an option after the real estate listing expires. Bonnie Pale asked me to ... "I would appreciate it very much if you could tell me if my book is good, or what. This is my first try at writing, and I don't know if it is good, bad or in-between. -- An honest opinion would be great." Bonnie: I read it ... you are a talented writer. Suggest everyone in business should read it to know what they can and cannot do to collect debts. -- SO ... Check it out at: http://www.debttofreedomnow.com 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 Thought For The Month! "An idealist believes the short run doesn't count. A cynic believes the long run doesn't matter. A realist believes that what is done or left undone in the short run determines the long run." -- Sydney J. Harris
David Nghiem needed to know ...
"Recently I received an inquiry from a possible buyer, in China, for a product that one of my sources probably has. This is great, because I stopped by the site yesterday to talk to one of the guys there about it. He said that I needed to get specifics on what the buyer wants. So, I'm doing that at the moment. -- One question though. How do you qualify someone as being the primary source or the primary buyer? So far, this contact (in China), has sent me photos as an example of what they want, and I'm asking more questions, directly, as to are they the primary buyer, or are they a broker. -- So far so good. I had no idea that a possible buyer would fall into my lap like that! -- So, how can I qualify properly the buyers in china, and in the future, all of my buyer leads overseas?"
David: You are getting too involved in the deal. As a Finder, all you do is introduce the buyer to the seller. Since you have an interested buyer who has taken the time to send you pictures of what they need, you now need to get the seller to agree to pay you a commission (see my course, again). Once they agree to pay you a fee, introduce them and step away from the deal. By introducing the buyer and seller, they will be able to find out between them exactly what the buyer wants and what the seller has to offer.
"I'm a young man looking to make my fortune and career in exporting as a agent. I'm currently attempting placing a sugar deal together through a mandate who represents the actual sugar producer/seller. -- Question. I was told to ask buyers to forward me an LOI, if they where to be considered a serious buyers, but I do not have a clear understanding of what an LOI consist of? -- Would you please help me get a full understanding of this document or direct me as to further information on this matter?"
Ron: A "Letter of Intent" (LOI) is a misnomer. That's not the way it is done in the real business world. There are very, very few instances in the real business world where a LOI is required; this isn't one of them. "Mandate" is another misnomer not used in the real business world. It appears you are working with either a raw amateur (who is trying to earn some fees himself) or a con-man. Sorry.
"I am interested in selling clothing - fashionable, designer brands, the high-end material. I wondered if you know the best ways of getting the stock at the lowest possible price. -- Is it going to wholesale? If so, what's the best way you've found to find wholesalers? And, if you go 'above' them ... to the guys they deal with ... what's the best way of locating the 'prime source'? -- I also heard agents are pretty good to find stuff for you. -- I suppose the answer would be the same in pretty much any industry, too - clothing, or other goods. -- Cheers for all your help. Much appreciated. "
Sukhie: You can contact any of the manufacturers (prime sources) directly - but - since you will most likely be selling at retail in a shop, you probably shouldn't even attempt to deal with them directly ... BECAUSE ... the manufacturers will require that you buy their clothing items in gross lots. Since you wouldn't want to have 144 dresses all alike on display, your best bet is to look for wholesalers. What you might want to do is contact the manufacturers who offer to Drop Ship their clothing. Then, all you will need will be one "sample" dress in each style. Take the customer's order and have the dress drop shipped to them. You can find all the drop ship sources at:
If you still want to contact the manufacturers, try the sources at:
"Your book on Affiliate marketing, is jammed packed with good stuff not hype. -- I have a question. -- How does one retain the loyalty of his, I will call them customers to simplify, after they have went to the main directed link? Would they not be prone to give allegiance to the new found, or main guru?"
David: Over the past 30 years in this business, I have learned one thing ... buyers of a certain product are buyers of similar products. Opportunity seekers buy from a wide variety of sources ... looking for the opportunity they want. The same holds true for buyers of any other specific product. If they buy fish hooks from one source, they will also buy fish hooks from other sources. You keep your customers' loyalty by offering them the absolute "best" products you can find for them. Never try to sell them any inferior or shoddy products. Never try to sell them something just because you can make a big commission. If you will read my course again, you will find that I emphatically stress the importance of always selecting the best products for your customers ... regardless of price or commission - and - never lie to them. Don't just make sales ... make customers.
"I bought your course on real estate options. Its great! -- I have one question. Can I still get an option on a property that is already listed with a real estate agent, since they already have a contract to sell the property?"
Yes, Shane ... You can take an option on property that is already with an agent - BUT - the agent would be involved - AND - the agent usually doesn't want to take the property off the market for the option period. Best bet is to approach the owner and see if you can get an option after the real estate listing expires.
"I would appreciate it very much if you could tell me if my book is good, or what. This is my first try at writing, and I don't know if it is good, bad or in-between. -- An honest opinion would be great."
Bonnie: I read it ... you are a talented writer. Suggest everyone in business should read it to know what they can and cannot do to collect debts. -- SO ... Check it out at:
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
"An idealist believes the short run doesn't count. A cynic believes the long run doesn't matter. A realist believes that what is done or left undone in the short run determines the long run." -- Sydney J. Harris
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.
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.
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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