Ask me in March, cause April gets busy.
 

Got questions?

Think I might be able to help?

Ask now. Next month is full, lots to do, and if the weather breaks at all, even more than normal.

As many of you know (if you've been here for awhile), my answers usually have more questions than actual answers. I try to dig deeper into what lies behind, beneath and below the question.

So, here you go. And get this, it's FREE too (I don't take money anymore for my time, but I give it away as I want).

Gordon

Re: Ask me in March, cause April gets busy.
 

Question: do you think LISTS can be divided before-Covid and after-Covid?

What I mean:

I am contacting my old before-Covid list with new offers, and majority is not very responsive. I think that happens because the offers in majority are "self-indulgent" products, and the old before-Covid list is more resistant. They were on a different mindset, they bought before this Covid pandemic.

On the other hand, the new present that buys during Covid pandemic seems be less resistant to buy "self-indulgent" products. So if this new present list buys "self indulgent " products, it means they are willing to buy more.

Your opinion Gordon?

Thanks!

You might find this useful.
 

I think Mark Manson may have an answer in this weeks Monday MindF&ck

https://tinyurl.com/3u49khmt His research might be useful re: buying during pandemics.

I don't know anything about what you sell and to whom to give any advice, just too vague a question for me.

Mark covers the whole idea of "self indulgent" in this week's newsletter.

Gordon

Re: Ask me in March, cause April gets busy.
 

Thanks for the reply Gordon.

I am referring to Jewlery for women and fashion bracelets for man.

I am having very low sales on presenting new products to my present customers. I test a lot of new different products, and now I am focused on presenting only products that are similar and related on the same taste of the 1st purchased product of my customer.

Example: if someone bought from me a very golden shiny jewlery I am focused on presenting only new golden shiny jewlery. If the customer bought me a bracelet, now I present a new watch, a new ring, a new necklace — all following the same golden shiny taste.

Any suggestion to sell more products to my present customers?

Test some offers.
 

Mike, again, not enough info. I refer you to the many dozen posts here about the NPGS formula, the four parts, PROSPECT, PRODUCT, PROMOTION AND MEDIA.

You have buyers, of shiny jewelry, is it low end? Under 39 dollars? And what is the mechanism of the sale? Do you just advertise on Facebook?

Anyhow, you have buyers, so you now test offers, if they didn't respond to one, maybe try testing price points an upsell, a downsell. When we sold jewelry at SCI, we found buyers responded to CUSTOMER APPRECIATION sales.

Mary, the reason you are receiving this email is because you purchased ______ and we want to show our appreciation. Our shiny golden jewelry buyer has uncovered a limited source of new shiny golden earrings (bracelets, whatever) which perfectly match the _______.

Because there is such a limited supply, I have been authorized to give ONLY our customers who own _________ the first chance to receive this at a discount rate. Rather than try to sell these to strangers at a higher price, we would rather liquidate our stock by rewarding customers like you Mary with a one time offer as a way to show our appreciation. BLAH, BLAH...

That is one type of customer appreciation promotion. Give them a reason why it is being discounted, why they are getting it, why they have to make a quick decision, all the standards of selling.

The other angle, if you read Manson, is the reason for buying NOW, the whole Carpe Diem thing, In these times of uncertainty, Steve, you want to feel as confident as you can. You have purchased our shiny golden bracelet and we trust you wear it with great pride (assuming most of your buyers are not buying gifts, I don't know).

So my best guess answers for jewelry BUYERS is to test OFFERS, and if you are hearing crickets or not getting any response, check in with them and ask them why, or what can I do for you.

Steve, as a valuable customer during these Covid-19 times, we understand how the uncertainty makes all us feel trapped and we want something to make us feel good, at least about ourselves. You recently...etc. etc.

So, test your creatives, your OFFERS, but I'm a numbers guy mostly, all my creatives have to stand on their own, if they don't work, then I try another way. How long after purchase? Is there continuous and constant contact?

What feedback do you have? What other places have you made offers, what are your top sellers and match that.

You know you have BUYERS, now you must give them a GOOD REASON to buy again.

Analyze your business with the NPGS formulas and math as in 7 Steps, I know you have a copy of that.

Gordon

Re: Ask me in March, cause April gets busy.
 

Keeping testing new offers and do some customer appreciation, these make sense. And offer is not only the single PRODUCT but the price too.

However you reply is focused (and correctly) only on the PROMOTION.

To be honest , based on my own experience , I believe what would exponentially makes the difference is the PRODUCT.

The MEDIA I use is only Facebook Marketplace and Facebook Feeds. In the moment I simply send a sales letter with new products by private message chat to my Facebook business page contacts and on Marketplace contacts. I do this manually 1 message each time. I dont contact my list by e-mail because I only advertise on Facebook Marketplace and Facebook Feeds.

Can you give me some advice specific on how to choose winning PRODUCTS?

I tested modeling the Pandora brand on the products, didn't worked. What my clients want is not Pandora brand style, actually is the opposite.

Any tips on the PRODUCT?

Thank you.

Re: Ask me in March, cause April gets busy.
 

I have NO idea what Pandora brand STYLE is. But since you do and you know your customers want the opposite of that, then you just source those kinds of products.

There used to be at least 5 major Jewelry trade shows here in USA. I know our jewelry buyer had, literally, a 100 or more catalogs.

If the source isn't a problem, and you KNOW, as you say, "my clients want is not Pandora brand style, actually the opposite"...then I don't understand what you are looking for as re: winning products???

According to Wikipedia,

Pandora is known for its customizable charm bracelets, designer rings, necklaces and (now discontinued) watches. The company has a production site in Thailand and markets its products in more than 100 countries on six continents with more than 7,000 points of sale.

So your customers DON'T want customizable bracelets? I understand what Pandora jewelry company is about, and all that, what I don't know or understand is how you

tested the "modeling the Pandora brand on the products", what is theIr STYLE, and more importantly, what is opposite of that?

Gordon

Re: Ask me in March, cause April gets busy.
 

tested the "modeling the Pandora brand on the products", what is theIr STYLE, and more importantly, what is opposite of that?


This is how I organize it:

- I consider the "Pandora style" jewlery that is elegant with small details, non ostentive, not super shiny – more discreet.

- The opposite is a jewlery that is ostentive, big, shiny and sparkling.

Thank you.

Re: Ask me in March, cause April gets busy.
 

If that is what your customers want, then good pics, and copy which emphasizes the shiny, sparkle thing. I think you've answered your own question Mike. Now you just have to send them offers.

This was like one of the most profitable products ever sold, the CUBIC ZIRCONIUM "DIAMOND". The promotion was the top seller for direct marketing for a few years. These people want to be noticed. Recognized. Acknowledged.

Again, about insecurity. So make your offers dazzle them. Both chain and bangle offer a lot of shine to them, or cuff of gold.

Gordon

A good story about the piece might help too.

Re: Ask me in March, cause April gets busy.
 

Awesome.

Thanks for the tip of CUBIC ZIRCONIUM "DIAMOND".

I will keep focusing on sending new offers following the line of the 1st purchase they made.

Thanks for the answer.

Mike

Re: Ask me in March, cause April gets busy.
 

Hi Gordon, I have another question for you.

Your top books on these topics?

- Starting/Growing/Managing/ a Mail Order Business selling all types of products;

- Advertising;

- Business in general;

Thanks.

MikePT

My top book suggestions depend on...
 

...the reader's awareness. In other words, beginners wouldn't get much from advanced stuff, likewise, experienced people would be bored by beginning information.

As for any BUSINESS. I think a foundation of understanding what a business is would help most. Even those who just jump in and get started and make some money, may wind up in a place they don't want to be in.

Some may knowingly swim in swamps, Perry Belcher comes to mind, and others may plead ignorance, the "didn't know".

So, a beginner should at least have an understanding of what a business is and what the obligations of that business are, ie, TAXES.

Perry Belcher was forced to forfeit his assets, others, like Gary Halbert went to federal prison, and still others, like Kevin Trudeau are still incarcerated...all of this because of either poor business practices or knowingly operating outside the laws.

Maybe a basic business book, like this one:

https://www.amazon.com/Starting-Busi...dp_ob_image_bk

Accounting can be an issue for many, and online businesses, like affiliate marketing for example, seldom address this. I remember a Warrior who soared to 100k a year, then in a matter of months, went down to less than 10k a year, imagine that accounting nightmare, eh?

Then there is the law. Another area oft overlooked.

A REAL business would have a lawyer and accountant at hand, not employees at first but for consultation. It is an expense that many wannabee business owners ignore.

My suggestions would then depend on what the person brings to the table with them. How much do they know? How much have they done? What experience do they have?

I know of at least 10 people who started a remote direct marketing business after being employees at SCI for awhile, being exposed to the daily activities and seeing first hand all the moving parts bodes one well to strike out on their own.

A beginner might do the one above. I still suggest 7 Steps to Freedom II, the math hasn't changed, his founder's story has a lot of insight.

Simple understanding MAILORDER would be Melvin Powers' HOW TO GET RICH IN MAIL ORDER. Basic, simple book. Good for motivation.

A more advanced Mailorder book would be SUCCESSFUL DIRECT MARKETING METHODS by Bob Stone and Rob Jacobs.

Books that I have found helpful were: from Jeffrey Lant: THE UNABASHED SELF PROMOTER & MONEY MAKING MARKETING. I am a Lant fan (of his writing).

IF someone was NEW to the jewelry business, I might suggest:

https://amzn.to/3qqDkck

My answers, like always, begin with INTENT. Once I know what that is, then I could make better recommendations, right?

Advertising would depend on the market, how it reacts now, what it does, who is doing well, then I might suggest one follow the successful examples.

Having seen the evidence; Three hundred million dollar companies, thousands of products, BILLIONS of dollars sold...it is hard to convince me there is something better than the NPGS formula for business.

The problem with it is, it requires some deep drilling down into it. To get to a 40 on a product is not an easy thing to do, although a 35 could give one a lot of profits.

Gordon

But first, I would analyze any business for slop and mess.
 

There are many ways to analyze a business.

I start at the TRANSACTION. How and where does it take place? How does money or value exchange hands?

A look at the past. At SCI, some of the highest GPP or profits came from special events, like the raising of the TITANIC expeditions, or the LEGENDS OF NASCAR or LEGENDS OF COUNTRY MUSIC.

These brought in LOTS of money very quickly. These high priced items, over 2k each needed 50 sales to get 100k in...whereas,

The jewelry dept, selling 19.95 bracelets would have to sell 5,000 units. See?

So the CHOICE a business owner would make might be, fewer customers/higher ticket or many customers/lower price.

Harvey Brody only has a a few (relatively speaking) at maybe 125-150 whereas the SCI jewelry dept. has over 6 million.

Which one do you all think has more slop and mess?

When I was selling resume services for 495.00 dollars the average resume offer was around 49 dollars. So they had to do 10X the number I did.

In golf, I sold a bundle or package of golf lessons or a membership at 250 where as a teaching pro might get 25 for the single lesson.

In a mail order business, I would carefully examine and analyze all the steps leading up to the transaction and what comes after that.

Today, the thought of all of that, tires me out. Can't do it, or certainly don't want to.

My next/newest venture is an already tested and proven money maker by someone else, I just have to make a few presentations, and all the back end/back office stuff is handled for me. I only have one thing to do, tell people about it.

It doesn't get much simpler than that, the online equivalent might be affiliate marketing, but then you compete with millions or certainly scores of people hawking the same products.

But in the real world, I can offer a one of a kind, unique, NEW idea and let it be a take it or leave it offer...I just don't care. NOT interested in selling anything, although I am more than capable of doing that.

Once you look at the TRANSACTION, and then backward chain the events you get to the PROMOTION, and the time and place and to whom it is offered.

One reason franchises are still so popular (although a very bad year) is due to their MARKETING plans, pretty much a paint by the numbers thing based on proven methods.

If someone came to me and said, I want to start a pizza shop or I want to start a mail order business or I want to start an Internet business...

my first question would be; WHY?

I think the biggest mistake made across the board for new business start-ups is, they make the WRONG CHOICE at the very beginning.

It is too often based on what they know, or can do, and very little analysis of the business takes place. Locally, for example, in the last few years we've had several Martial Arts studios open AND THEN CLOSE, and all of them were competent teachers/instructors...but they all had a build it and they will come business mindset.

Sure, a big open space with a few mats is about as low OVERHEAD as a business can get, but the COST of

ACQUIRING A NEW CUSTOMER is most often the biggest expense in any business.

And it is the thing overlooked. I start at the transaction, and then from the gross profit per transaction, I would take 50% off of that, at least, for new customer acquisition and seeing all these little stores come and go tells me, they didn't do the right math to begin with.

TRANSACTION and the steps to get there.
Minus costs.
Gross profits.
Minus overhead.
Maybe equals net profits.

Yet, thousands of new businesses are started every year, and hey, a few of them will even make it.

Gordon

Re: Ask me in March, cause April gets busy.
 

As expected, a detailed reply.

I agree with you on taxes and law, this is something that makes the difference. Poor importance is given it to them, and simultaneously is not rocket science to understand it — although public Government balconies here (my experience) are chaotic on helping with understanding taxes and laws.

Is chaotic. Seems to me nowadays is worse than of 50 years ago , even there in America.

Thanks Gordon

Re: Ask me in March, cause April gets busy.
 

Gordon do you have any experience on having off-line vending machines?

Is a passive income business that attracts me.

Thanks.

MikePt

Yes. And LOCATION, LOCATION AND LOCATION.
 

Even more important than Real Estate is the location. I had a JV Partner, we had several...then we didn't. The locations either disappeared or we were "muscled" out by deeper pockets.

Keeping them stocked, keeping them secure, collecting the dough...hardly PASSIVE (although it was for me, cause I was the bank, again, until I wasn't).

You must have TRAFFIC. Profit margins, gross, about 50% in USA...plus gas for vehicle, insurance, etc., and a reliable supplier.

If I were to do something like that today, I'd be more likely to invest in a "route" for a rack jobber, the problem there is float time, you have to extend credit to the convenience stores.

Today, in USA, I'd take a look at mobile homes and again, location is everything there.

Real passive income is when you do nothing, and the money keeps coming. Not a lot of those with high returns, although, much safer, Certificates of deposits, etc.

Gas and Oil leases or rights of way are passive as are Cell Tower leases.

I'd due some serious research before I got into vending machines.

Gordon

PS And of course, TOLL POSITIONS with Intellectual property is great, albeit, somewhat harder to come by, but available. Gary Portnoy wrote a little ditty for a TV show called WHERE EVERYBODY KNOWS YOUR NAME the theme for the show CHEERS. Gary has been able to live very comfortably for years, from the royalties of that one song.

OH, my uncle, Frank Yoder made about 150k a year by leasing his plant patents too. That is PASSIVE baby, passive.

Re: Ask me in March, cause April gets busy.
 

Real passive income is when you do nothing, and the money keeps coming.

You are right .

Thanks Gordon.

Uncle Gordon, what do you think of this investment option?
 

I'm speaking of cryptocurrency

I used to quickly brush off anything crypto as a "scam" but it's becoming too pervasive to completely ignore.

My questions specifically:

Based on your experience in INVESTING in general, which aspects of cryptocurrency do you see as viable for investors?

And what loopholes should an investor avoid?

Thank you

Today, it is in the high risk category, however...
 

I mostly follow one of my mentor's advice, Dick Buchholzer, who said he didn't invest in what he had no control in.

When you invest in a bldg, you can control it as for appearance, etc.
When you invest in a business, you should be in control of it.

When you turn your money over to someone else to use, to manage then you have to calculate the risks.

There may soon be a day when crypto is the primary way of exchanging value, but I doubt I'll see it. It is, today, in my opinion, a step or two of playing the lottery (although I am getting 22% roi on my lottery investments when they stay below 1k)...

So the questions are, what can you afford to lose? How much is going into high risk? How much is safer or protected? Are there better options for your money?

There will be that Bernie Madoff character down the road, or the gov't which operates crypto and confiscates the bank. It is a wild west show at this point and I would argue that the TIME it takes to learn how to trade crypto, could be better leveraged for higher ROI than what it is today.

I suspect INFORMATION about it, would be my choice for entering the market, and maybe start with an interview of an established trader, one who has been at it five years at least and is showing substantial ROI.

As an investor, I might be willing to put a nickel out of every dollar I would invest into some sort of crypto. But I'd put 5X that into food supply industries.

I don't like Wall Street or letting other people use my money, but for many it is fine, although I know of many a retiree who lost their pensions in the housing collapse. As a chatteler, lots of opportunity to buy low when the bottom falls out of any markets. Might be able to pick up a Maserati on the cheap when the Crypto Guru surrenders to the (pick one) IRS, FTC, LBJ or whomever.

I strongly advise a deep immersion into EDUCATION, which could be the foundation of an information product, APV even, before I put my wallet at risk. But that is just me.

Gordon

Re: Ask me in March, cause April gets busy.
 

Gordon, what magazines can you recommend to someone read to following business trends/opportunities?

I would like to follow a good magazine to keep the eye on business trends and get some ideas, in particularly on small business.

Thanks.

Doubt if there is ONE must read, which covers it all.
 

Inc., Entrepreneur, Bloomberg Business, WIRED, Small Business Trends, Fast Company.

I advise one read everything regarding THEIR business, so trade pubs are probably more useful than magazines are. Then read what interests you, even if it has nothing to do with business.

Gordon

Re: Ask me in March, cause April gets busy.
 

Thanks Gordon.

MikePT

Thankfully I can slip this in before Busy April...
 

Hey Gordon:

Here is the question

Step by step, which specific eBay filters do you use to land at "opportunity pages" like the ones you shared in the recent Skip Rosell/Chattel thread?

Let me explain:

Obviously from previous posts, I know you search "Sold Listings" a LOT, correct?

Assuming you were teaching a 5-year-old, where would be the "Start Here" step, after "First, visit eBay.com"

Do you input a keyword first?

Do you start with a price range in mind?

Do you select/ignore "Auction" or "Buy It Now" (and why?)

Where do you go next after landing on the "opportunity page(s)"?

Thank you

Read the new thread, I am a one trick pony, but first, HERE
 

Before even turning on your computer, one must start with

A PLAN (ARE YOU SURPRISED?)

And an evaluation, or analysis, whatever you want to call it, an inventory or list but you start with what you have (assets), where you are at and where you want to go.

Take Chatteling. The goal is to make money. How much does one start with? What additional assets besides cash on hand also exists, such as copywriting or marketing skills or experience.

By far and away the question asked most often is: What do I buy? And my answer remains, as it has for the last 30 years...it isn't about the WHAT, it is all about DEMAND and supply.

A better question is HOW MUCH profit IS in IT, whatever the IT is? And we can only know that from what the current market tells us, so we keep an eye and awareness on FINISHED/COMPLETED transactions, on eBay they do it for you so beautifully, and you know what is actually being exchanged.

For a beginner, it might be helpful to look around your place and SEE what things you have laying around, and WHY you have them? What would you buy again, today, if the thing broke or was taken? How much would you pay?

Then maybe hobbies, I once spent thousands on the game of golf, and today, just hearing the word makes me cringe, such has been my parade of life. I also worked in the largest chain of used golf equipment which bought and sold used golf clubs, which aided to may already extensive knowledge of the game and equipment.

So, on my asset lists might be golf. Today, NO. But at one time, I made a lot of money in that market. I learned long before there were TV shows about PAWN shops, got my Chatteling start in Hawaii with Honolulu Pawn shops, and was always amazed with how these guys came up with VALUES or what they would pay or lend for an item, knowing if they had to sell it, what the profit would be.

On the TV shows, we saw they would often call in EXPERTS, they had a NETWORK of people who could provide them with knowledge they lacked. So, if someone brings in a pocket watch, they could call in the guy who knew what the market value is.

For me, that is the first place I go, eBay, to see any given market VALUE, on almost anything, because of those completed/sold listings, and especially look for number of bids and once I see it wasn't just 2 or 3 in a bidding war, if there were dozens of different bidders, I see DEMAND, AND then go to "similar listings" and then to the marketplaces, and search for that item FOR SALE. Be it Craigslist, or Facebook Market place or local buy and sell groups.

I know there is PROFIT to be made in RV'S, both the kind you drive, or the ones you PULL, and today, I have seen many of these spring up in back yards, my grandfather lived in one on my Aunt and Uncles property for years, with today's uncertainty, they make nice guest houses, or when the kids move back in and want their own space...or

even if to be used for their original purpose, to go camping or to travel and take your hotel with you. Today there is pent up want/need to get out and travel, so I KNOW that these small canned ham type RV's are going to boom beginning next month, and BIKES will be in demand too.

My advice, as always, seems to be; start where you are at with what you have...and if you have 500 to invest in buying and selling, then get your feet wet with smaller transactions just to get a feel for the time, effort and slop and mess involved. And build your networks, so, when the time comes to get advice, you have someone who can tell you if there is PROFIT in it first...

which is where I start. How much PROFIT is in the item and how much can I get out of it, A) if I want a FAST SELL (always for me) vs B) do I want to hold out for market value? Some like to store things, I don't.

To begin, look around the room, what do you see, now spend an hour searching eBay for SOLD/COMPLETED listings of your "stuff" and you will quickly discover how valuable a tool it is for the Chatteler.

Gordon

Brilliant!
 

Dear Gordon:

Thank you for answering questions I didn't even know I had!

Brilliant!

MIKE - What About Birthdays & Anniversary Gifts?
 

Thanks Mike,

I have a Jewelry Making Client (Wife Designs/Husband Sells) Who Makes Millions Selling Expensive Jewelry to His/her Harvard ClassMates List.

Every Year they get a Copy of the Yearbook.
And Rent the University List.

Your Jewelry is Much cheaper.

But The REASON WHY his Clients BUY over and over.

Is
PAIN
AVOIDANCE.

He has all of their Wives Birthdays and Anniversary Dates.

Emails and Phone Calls JUST Before the Poor SOB
is about to GO In The Dog House.

CAN YOU OFFER A Ethical BRIBE of a Report or Booklet
About Taking Care of Jewelry.

OR Fixing the Clasps or Replacing the fastener yourself. TO Get Your Past Buyers to Share their B-Days and Anniversary Dates.

HOT REPEAT BUYERS Should Be Your Priority.

ALSO.

I just Spoke to a Lady in VEGAS who owns an Advertising Specialties Biz.

She is Selling MATCHING COLOR Jewelry AND Face Masks.

I
Just
Met
a
Woman who bought 200.00 of food in Whole Foods Grocery Store.

Her Mask, Eyelashes, Shoes, Finger nails AND Earrings Were ALL
The Same Shade of GREEN.

2nd OLDER Woman - Had Matching TigerStripe Shoes AND FaceMask.

Thanks,
Glenn Osborn

Re: Ask me in March, cause April gets busy.
 

I'm not Gordon, but I wanna share my opinion. I honestly prefer to read Business Insider and Forbes because their articles are usually very informative and unbiased. I discovered there many things about the current business trends in various fields, including small business.

Re: Ask me in March, cause April gets busy.
 

Moreover, Business Insider provides a lot of interesting information about business data security. For example, I have read an interesting article there about the modern anti-fraud solutions that eventually helped me protect my own business.

I had a really bad experience with some dishonest clients who were trying to produce some fraudulent schemes. In order to protect my business, I've successfully implemented KYB software that minimized any fraud risks in my company. Honestly, I never thought that a brief article could be that useful. So yeah, Business Insider would be the right choice.

Thank You Glenn. Great thoughts.
 

Gold.
Pure fuel.

How easy is it to keep track of birthdays and anniversaries for any business? Dirt simple, cheap software, an email and WHALA VOILA BANG BAM, money pours in.

I am amazed by how many restaurants and mom and pop shops DON'T have some sort of a birthday/anniversary thing set up. How simple for anyone in the jewelry or gift business to implement this too. You gave us all a whole bunch of FREE money with this one idea, so many thanks.

Next month, when I launch my new offline business, I will be incorporating this into my sales pitch, it came at the exact right time Glenn.

Thank you, thank you, thank you.

Gordon

PS. SCI jewelry division sent a little FREE box of chocolates (and an offer) to their jewelry buyers, I know they too, made millions from this thoughtful gesture. And everyone has a birthday.

Re: Ask me in March, cause April gets busy.
 

I believe that cryptocurrency is a bubble that will end up blowing up.