PeteGodfrey.com » Business Building

What’s Sitting Around Gathering Dust That Could Be Making You a Whole Lotta Money?

Pete Godfrey — Wed, 28 Apr 2010 09:12:02 +0000

In a recent newsletter, on page 4 and 5, I talk about the money that’s locked up in your business and how to find it.

In that article I gave so much meat every subscriber would have been ecstatic, and no doubt jumping out of their seats shrieking “Eureka!”

Anyway, I asked many questions that when answered and acted upon, could make them a whole lot of cash. Here, I want to answer the questions for you, by showing you examples of what I have been doing these past few weeks. (And, I’ve added another great question not mentioned in the newsletter.) Not only will this help you find your own gold nuggets, it’ll give you a perfect example of how I think and then take action and then bank the cash.

How many old products, old courses have you got gathering dust and not making any money? If you’re in my kind of business and you’ve been doing it awhile, I bet you’ve got some. Take my * Emotional Ad Writing & Marketing System for example. For years, it’s been called THE BIBLE of Aussie copywriting. But guess what? I haven’t been selling it! Only rarely at eBay conferences and such. I took it offline thinking I would re-brand it but just never got around to it. Anyway, over the years, I’ve had requests to license this system all of which I declined. So I decided to sell 10 and only 10 Reprint Licences to this course so others could sell it (they can even re-brand it by putting in their own intro). I made the investment a very realistic $6,995. Times that by 10 and you’ve got around 70K.

* Yes, there are some licenses left. If you’re a business coach, copywriter, consultant, this is the perfect product to add to your services. Contact me personally pete@petegodfrey.com

How many successful promotions have you got sitting on your hard-drive? Look, we get busy, we get bored, we test new things and we move on. Trouble is, we forget to use a lot of the stuff that works. Your job is to go back through your old ads and see your results and then start testing those winners again. The results may shock you. The other day I came across a killer ad I wrote for a client that I am now re-jigging for my own business. It’s a proven winner but I had forgotten all about it. Even Wizard’s have memory lapses.

How many old customers have you got on your books that you haven’t contacted, haven’t made a special offer to? Now that I’m back on my own I’m busy working on a reactivation campaign for past members and customers. You should be doing the same. The only better list is of current customers.

How many alliances aren’t you extracting value from? I’m guilty of this BIG time. I hang out with a lot of successful folks, many of whom call me a friend. But for some reason, I don’t do business with them… we usually just hang out. But recently I decided why not? Case in point, my mate Darren Stephens… he’s one switched on guy. So when I was on the coast recently we got together and I mentioned a couple of ideas that he immediately liked. All are potentially profitable projects and all I had to do was ask.

How many resources aren’t you using? This is the question to answer. What resources have you got on hand that you ain’t using? This is where the money is.

Okay, I’ll finish up by recapping a couple of points.

There’s money laying around that you aren’t picking up and banking. The trick here is to asked the right questions.
How many old products, old courses have you got gathering dust and not making any money?
How many successful promotions have you got sitting on your hard-drive?
How many old customers have you got on your books that you haven’t contacted, haven’t made a special offer to?
How many alliances aren’t you extracting value from?

Look, if you really wanna boost your bottom line you’ll take the time out and answer these questions. And let me know of your results okay.

Cheers,

Pete

P.S. FREE GIFT! To celebrate the May launch of my re-branded Emotional Ad Writing & Marketing Letter, I am giving away a free copy of last month’s bumper issue. Email me personally and I’ll send you a copy. (pete@petegodfrey.com )

And please, if you are easily offended and still believe in the tooth fairy, please, please do not ask for a copy. I really don’t want to offend you. The information is for mature, progressive thinkers only.

Let me be frank so I don’t waste your time. My newsletter is NOT for anyone. If you’re looking for a magic pill and want to get rich in your underwear while you work 7 minutes a week, and you think you can attract riches just by thinking good thoughts and holding hands while singing kumbaya around a campfire at midnight, then my newsletter will only confuse and annoy you.

However, if you’re the kind of person who has an opened mind, is willing to learn, is a progressive thinker, then you may find my fair-dinkum, cut the crap approach to business success is just what you’ve been looking for.

BTW: There is a reason why folks like Mal Emery, Bret Thomson, Andrew and Daryl Grant and many other successful entrepreneurs get my newsletter… it’s this reason why, if you’re a business owner or sale professionals you can’t afford to be without it.

Here’s what Mal Emery says about my newsletter…

“It’s one thing I look forward to…”

“I’m an entrepreneur and I work hands-on with hundreds of business owners throughout the land… so I’m busy. But I do take time out each month to read Pete Godfrey’s newsletter. It’s one thing I look forward to, and I often find myself nodding my head in agreement, and smiling at his no bull attitude. Give yourself the edge and grab Pete’s newsletter now.”

Mal Emery, Millionaire Maker and The Coach Of Coaches, Perth WA

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Association… Tarred With The Same Brush

Pete Godfrey — Tue, 01 Sep 2009 04:29:16 +0000

NOTE: I was reminded of the importance of association last weekend on the Gold Coast when I was speaking at Matt and Amanda Clarkson’s eBay gig. You see, who you know is critical. But also, who you allow into your space governs the levels of success you’ll receive.

Anyway, here’s an article I published last year in my Emotional Ad Writing & Marketing Letter. I’ve edited and updated it slightly to suit the blog. I’m sure you’ll get plenty out of it. And yes, I know it’s long and it WILL take you 5 minutes or so to read. But just remember the old saying: Readers Are Leaders. More important today than it ever was.

Association… Tarred With The Same Brush

The power of association is a potent positioning tool. Who you associate with is a clear message to your market. If you’re in Real Estate for example and you walk into a seminar with Donald Trump hanging from your shoulder, you’ll get an instant reaction from the audience.

There’s a story about J.P. Morgan that demonstrates this perfectly.

Instead of giving an old friend a loan, he took him for a walk across The Stock Exchange floor. By doing so, Morgan solved his friend’s financial problems.

So clearly association is important in marketing and positioning. But association is more than this, much more. Who you associate with DEFINES who you are; more importantly, defines who you are in the eyes of others.

It’s essential, as you move through life and become more successful, that you are careful about who you let close to you and who you keep out.

I believe many people let newcomers into their lives too easily; without due diligence. They are swayed by other’s recommendations, even though those recommendations are based on the flimsiest of substance. Just because there’s a new kid in town that everybody is raving about, doesn’t mean you have to climb on the bandwagon and embrace him with open arms. Suss them out first. Observe them; not just what they say, but what they do. Don’t be bullied into making a decision.

It’s the same with neighbours. Just because you got new neighbours, doesn’t mean you throw open the BBQ and roll out the welcome mate. You don’t know a damn thing about them. Getting too familiar with your neighbours too quickly is a mistake many have made. And look, if they are okay, well after a while you’ll find this out. But you haven’t rushed it. It has happened over time.

By the way, I discourage my neighbours from getting too familiar. I’m polite, say g’day but never ask questions. I’m the same on planes. I’m used to hitting the road by myself… used to Hotel rooms and room service and a pay-per-view comedy and laughing with only myself. A good movie, or if I’ve got a good book, then I’ve got all the company I need; so I don’t need to swap idle chatter with passengers or crew. This may seem anti-social, but it works for me… and, I get a lot of work done on planes, adding to my productivity.

This caution applies DOUBLE when recommending and introducing someone to your Tribe of clients, members, patients or customers.

For those who hold seminars, this is critical.

The mistake I see often is judging a guest speaker purely by the dollar amount he or she sells. Doing this is a naïve and stupid way to make the decision on who speaks at your event. There are many other points you should be looking at.

Who the person is
What happens after the sale?
What is he/she really selling?
This and more is ALL part of your due diligence you undertake before hiring a speaker.

I’ve seen too many clients and members rush into hiring speakers on the basis of questionable recommendations… hiring purely on the speakers ability to sell. What happens after the sale is when the shit can hit the fan. If your customers aren’t happy, sure they’ll blame the speaker; but they’ll also blame you. All the trust you have built gets shattered by one misguided decision; albeit a decision based on greed.

As we move forward into this economically challenged year, your relationship with your Tribe becomes even more important. We all have to be more sophisticated when it comes to letting people in under our guard. Base our decision on facts, not hearsay.

It’s no accident after almost 10 years doing what I’ve been doing I’ve built solid relationships with hundreds upon hundreds of members and customers throughout the world. They trust me, as I trust them. I take great care of who gets in my circle and who is shut out. I take care on who I introduce to you and who remains on the outer.

I don’t get carried away with the next “new kid” the next “shiny object” that comes to town. I remain grounded, but curious, sussing them out to see if they’re the real deal. I urge you to do the same.

Association is a two-sided coin; it can make or break you, lift you up or throw you down. Accurate thinking is what is required and that is sadly lacking in this instant 21st century.

POST SCRIPT: Don’t forget, if you want something covered here on this blog, send me your suggestions thru my Contact Page

And if you want me to continue blogging, keep leaving your comments right here. It inspires me… and when I’m inspired, I tend to write more. It’s in your hands.

P.P.S. Good news for all those people who wanted to attend my Sales Letter Writing Workshop but couldn’t get there. I have just received the DVDs and CDs of the event… so within a week or two, you’ll be able to get your hands on them too. I’ll keep you posted.

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The Unreasonable Man

Pete Godfrey — Wed, 17 Jun 2009 00:40:04 +0000

Okay, today’s post may upset a few of the more sensitive readers. (Plus it’s long so the lazy won’t even read it.) Those who view life through rose coloured glasses. Folks who believe all those business success books that lay out the secret to success in a nice, orderly manner where everyone is happy and everyone wins.

If that’s you, better stop reading now. Otherwise, you WILL be offended.

But hey, it’s my blog and I’m not going to censor myself to appeal to the masses. My posts are hard hitting, all content, and pull no punches. I would say the same thing to you if you were sitting down with me one-to-one.

I write them in a concise, blunt fashion, ignoring the temptation of softening the blows in favour of giving you what it really takes to succeed without the sugar-coated topping to make it more palatable. We’re all adults here. Sometimes, the best advice is bitter tasting.

If you’re still reading, it means you like hearing it straight and it’s great to have you here. Stick around awhile; it’s only getting better.

Okay, enough preamble; let’s get moving…

To get things done, to keep the momentum moving forward in your business, in your life, you MUST be the unreasonable man (or woman) who won’t take no for an answer. If you’re the meek and mild type, time to toughen up.

Let me explain.

If you followed around the average person for a day or so, you’d be surprised at just how little they get done. For a guy like me, used to juggling many balls in the air, used to hustling each and every day, used to hitting deadlines within a cat’s whisker, watching these folks for a day would be the ultimate torture. It would be so P-A-I-N-F-U-L!

Also, you have to realise just how incompetent most people are. They make mistakes, they make excuses; they justify their own bad behaviours and look elsewhere to lay the blame. This is reality. This is what happens every day.

No wonder they are average!

No wonder they are always short of cash!

No wonder they live lives of quiet desperation!

But as entrepreneurs, this is what we have to deal with. So we’ve got to be the ones that set the benchmark. With staff and with vendors, urgency must be communicated and deadlines must be set in stone to insure you get compliance. I give clear, WRITTEN instructions and leave a paper trail that’s easy to follow. I found writing the instructions is easier and takes less time than verbally telling someone (and a whole lot easier on my heart-burn too).

Why?

Because they end up forgetting what I told them, they didn’t take notes and if they did they’ll lose them, and then the job has to be repeated or it’s delayed. So these days, I ALWAYS GIVE WRITTEN INSTRUCTIONS.

Because I’m a great believer in Murphy’s Law and with most people, and this includes clients, if they can stuff it up they will. And, they will always lay the blame on you. It’ll be your fault for not explaining. When the instructions are written, the job still might go wrong, however they will NOT blame you as they can see it in black and white.

Now, getting back to urgency.

Personally, I hate it when I get an idea for Crocodile Marketing (one of my businesses) and my business partner David McMahon tells me this will take a few days to implement.

I want it done now; right this minute to keep the momentum going. I get antsy, irritable when things take too long and I’m probably NOT the best person to be around some days (ask Dave).

David understands this side of me and we’re working well together to hit our goals. (However, urgency is always on my mind, always mentioned in our conversations.)

So here’s the lesson: If you are a reasonable person, there’s a good chance vendors and staff make their own rules. I’ve had clients say to me, after I mention some profitable strategy, that they can’t do it because… get this… their staff won’t do it! WHAT?!!!!

If this is you, you’ve gotta sit your staff down and let them know how it’s gonna be. My old boss in the Railway used to say: “My way or the highway.”

Now, he was an idiot, however, the advice is good. If your staff refuses to play by your rules, get new staff. Same with Vendors. You’ve got to be the unreasonable person, one of the very few who gets things done. One of the few who actively contribute to this world.

We all need to demand more from those around us. And more importantly, we need to demand more from ourselves… and constantly monitor our progress, habits and actions to make sure we don’t slip down into the quagmire of the mediocre majority (as Kennedy would say).

To recap…

The average person is lazy and incompetent
Be unreasonable with your expectations from staff and vendors
Create urgency in your business
Keep a paper trail
Demand more from staff and vendors and yourself

POST SCRIPT: There’s a BIG difference between being busy and being productive. BIG money difference between doing and done. It’s important we’re aware of this as we go about our days.

What got done?

What got completed?

What got out into the marketplace to make some cash?

What value have you added?

That’s what we should be asking ourselves at the end of each week; the end of each day.

To me, being busy doesn’t cut it. The only thing that matters is getting it done. Don’t excuse yourself by saying how busy you’ve been. Don’t start making excuses why things are taking longer. Just get the damn thing done.

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