Month: February 2010

Do those long-copy sales letters actually work?

Post author By Ethan Theo
Post date February 8, 2010

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This is one of those questions I get ALL the time.

“I never read those long-copy sales letters. They can’t possibly work, can they?”

“MY target market doesn’t read those long-copy sales letters, they want shorter letters.”

“I can’t imagine anyone reading that much.”

And so on.

Okay, before I get around to answering the question, let me quickly explain what a long-copy sales letter is. It’s those sales letters that are dotted across the web where you have to scroll down and down and down before you finally find the price.

Yeah. You know the ones.

So do they work? Yes they do — IF they’re done right.

Here’s the thing. The reason they work is NOT because they’re long. Length doesn’t equal sales. What DOES equal sales is if you properly answer all of your ideal client’s questions and objections and demonstrate your product/service/program will solve your ideal client’s problems.

And all that takes words. How many words depends on how expensive an investment your solution is.

Think of a conversation. Let’s say it takes you 30 minutes to have a sales call with a prospect. Well, if you take that call and transcribe it,

it’s going to be around 10 pages long depending on how fast you talk. And that’s just one person.

Now you have a call with another person selling the same program. That person asks different questions, but it’s still 30 minutes. Now you have 20 pages worth of transcripts.

Are you starting to see how the long-copy sales letter gets so long?

Granted you’re probably not going to hear completely different questions time after time. But you can see how the pages will start to add up. (The reality is, a sales letter is actually much shorter than any of your one-on-one sales calls.)

Okay, so now you understand how these letters get so long. But what about the whole “you-don’t-read-them-or-your-ideal-clients-don’t-read-them?” Well, I have 2 reasons why that happens:

1. You’re not the ideal client. I don’t care how great or how poor the sales letter is, if you’re not the ideal client, you’re going to have very little interest in reading the letter. (And here’s the kicker — reading is a hypnotic activity, which means you don’t remember when you ARE reading but you DO remember when you don’t finish something. So you’re going to remember all those half-read sales letters much more clearly than the ones you actually finish.)

2. The sales letter is poorly written. This is probably even more common than the first one. Look, you can’t bore anyone into buying anything. And there are a lot of people who don’t understand the long-copy sales letter, so they simply throw a lot of words on the page and hope for the best. That is NOT how to write a sales letter. You need to connect with your ideal client and do it in such a way that they feel compelled to keep reading. A whole bunch of words ain’t going to make the sale (especially a whole bunch of boring words that don’t inspire anyone to do anything).

Bottom line — studies have shown over and over again that long-copy sales letters sell more then shorter sales letter. (Just as long as they’re well written.) So, even if you don’t completely understand it, don’t worry about it. Give your ideal clients what they want to make a decision to invest with you — a well-written, interesting long-copy sales letter.

Entrepreneurs

What Kind of Entrepreneur you are?

Post author By Ethan Theo
Post date February 7, 2010

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To become a successful entrepreneur you basically need these qualities- Innovation, Hard work, Positive attitude, Confidence, Determination and Courage to take risk.
But, no two entrepreneurs are alike. Some of them take more risks than others, while few prefer to play completely safe. Quality is the top most priority for few entrepreneurs but for others quantity is more important. So in this article I have tried to divide the entrepreneurs in to nine animals on the basis of their working styles and how they correspond to a particular animal. Without further ado here is the list.
Rooster– These are the entrepreneurs who start their business at a very young age. They are basically the self-starters who do not need any kind of instructions. Entrepreneurs in this category always consider themselves as Perfectionists and are most affected by ego problems.
Rat– These are the hardest working entrepreneurs. Work is their topmost priority due to which they can’t create a perfect balance between their personal and professional life. They take a lot of time to open up with others and always prefer to remain in their comfort zone.
Goat – These entrepreneurs can’t take quick decisions. They always remain confused and depend on opinions of others to take their decisions. They are the most sensitive and take things to their heart. They are the creative persons and can’t perform well under pressure.
Monkey – Entrepreneurs in this category are the attention seeking entrepreneurs. They can’t sit idle and always need something to work upon. They are creative and problem solvers but get bored very quickly. These entrepreneurs are always ready to learn new things.
Snakes – They are basically Solo Entrepreneurs. They do not have any employees and prefer to do all the work themselves. It doesn’t mean that they do not work in teams; they do but prefer to keep a distance and work like a virtual team member.
Ox– These entrepreneurs are the slow learners. They are hard working, persistent and have a lot of patience. They need lot of time to take any decision but after taking the decisions they stick to it in all conditions.
Dragon – These entrepreneurs are full of energy and leadership qualities. Their aim is to grow fast. They are very optimistic and always remain full of enthusiasm. The entrepreneurs under this category can make you crazy with their wildest ideas.
Horse – These entrepreneurs know how to use their resources effectively and are very good in handling money. They can’t focus on their goals for a longer period of time. They love meeting people and are very good in creating effective business networks.
Pig – These entrepreneurs are the most productive entrepreneurs. They believe in long term investments. They are goal oriented and always complete the project they start with great enthusiasm.
So these were the nine categories I found suitable to divide the entrepreneurs. Do you know any other animal we can add to the list? We’d love to hear about it. Feel Free to share your opinions in the comments.
About the Author:
Gagandeep Singh is working for Fortepromo which creates high quality Promotional Products that help companies to promote their brand in market.

Online Business

Tips for Researching a Merchant Account

Post author By Ethan Theo
Post date February 3, 2010

Many of you are starting up your own business, whether it is an online store or a brick and mortar, you will need a lot of new hardware and software. It is an important thing not to overlook is how your business will accept payments from customers, even in the early stages of the business development. It is crucial that you tailor your credit card processing service according to the specific needs of your business. A merchant account acts as a clearing account for credit and debit card transactions for orders made via the internet and/or a physical location. Now the question is: what do you need to know? Finding a merchant account provider can be tough, although, when you do a little research, you can find one right for your business.

For those that are just ready to open up shop, one way to go is with an independent sales organization. An ISO is a middle-man between your business and a financial institution. Many ISOs charge rates and/or fees for their services, although, it might be worth taking them on to reduce risk for the bank. Some of you have already started your business and want to research different merchant accounts and other possibilities. If you have a good sales history, you should be able to get an account with your own bank or one that concentrates on online sales.

Costing for merchant accounts vary. Most accounts have a fixed rate per month along with transactions (authorization) fees per sale. If you are a store front, there will most likely have extra fees for special transactions, terminal equipment and maintenance. Some merchant accounts have contracts where you are binded with that company for a specific term. The merchant account sector is competitive so just be careful of getting involved in an agreement that may not be best suited for your business structure. Rates are all based off of various assessments of your business, basically what is the risk of taking you on as a client. Some considerations include the products or services you are selling, average charge per sale, your projected monthly sales, what cards you will accept (visa, mastercard, etc) and your credit score.

When researching a credit card processing service, make sure you look for any hidden fees and then summarize the overall cost of the merchant accounts services to make sure it is within your projected budget. You should also inquire some of your own background checks to make sure the merchant service has not been reported by the government or consumer groups (ie. Better Business Bureau). A merchant account is an essential tool for all online businesses and it’s crucial to explore all your options to find the right fit for your new endeavor.

How-To Guides

How To Create A Business Plan in 3 Simple Steps

Post author By Pamela Swift
Post date February 1, 2010

There comes a point in every solopreneur’s business where they need to sit down and plan … and I mean, really plan! Not just write down a few ideas on the back of an envelope and hope for the best, but really map out a long-term strategic plan for their business.
Creating this kind of business plan is so important as, for one reason, it immediately eliminates a lot of the overwhelm and frustration that you’re probably feeling, but it also allows you to:
* See where you’re going;
* Know how you’re going to get there; and
* Lays out exactly what you need to do along the way to get from Point A to Point B
How do you know when you’ve reached this critical business planning point?
Well, there are a few indicators:
* You have LOTS of ideas swimming around in your head but don’t know how to pull them all together (lack of a Big Picture Vision)
* You offer several different programs/products, at different price points, but get very few or no sign-ups (lack of a strategic Marketing Action Plan MAP)
* You get feedback from your clients and/or customers letting you know that they’re confused and not sure which program is right for them (lack of a clear Product & Marketing Funnel)
Today I’d like to share with you three basic steps to business planning success so that you can start the year off on the right foot!
Step 1 – Create Your Big Picture Vision
This is the really fun part; it’s where you get to let your imagination run away with you. You want to sit down somewhere quiet with a pad and pen (writing is much better for this exercise as you can let your ideas flow) and start to write! Write about what you want your business to look like, the type of clients you want to serve, the sort of products and programs you want to offer – in fact write down anything and everything that pops into your head about what you want your business and life to look like.
Important: You want to write your Big Picture Vision in the present tense, as if you already have that business and lifestyle you’re writing about. Use terms such as, “I have, I own, I run”.
Remember that every part of your should say “YES” when you read your Big Picture Vision out loud!
Step 2 – Take Inventory
The next part is to take a look at where you are now and where you want to go. What needs to change in order to take you from where you are now to where you want to be? Is it:
* More/less clients
* More/less billable hours
* Offering more programs/products
And then create a timeline for making these changes. Put down dates of when you want the changes to have been made by, and set about implementing!
Step 3 – Plan Your Funnel
Now that you know what you want your business to look like and what you need to do to get there, start and map out your different income streams. The Product & Marketing Funnel is the perfect model for this exercise as it allows you to create different products/programs/services at different price points within your business. This way clients can move from free (your ezine and articles) to your paid info products, and eventually through to your high-end programs.
Follow these three simple steps above and you’ll instantly create a business plan that will guide your business to continued success this year … and beyond!
Online Business Manager & Virtual Assistant, Tracey Lawton, supports professional speakers, coaches, and authors to operate an efficient, organized, and profitable business. Learn how to create an efficient and organized office in 7 EASY steps, and receive free how-to articles at http://www.OfficeOrganizationSuccess.com.

Tags big picture vision, business plan, business planning, business planning success, simple steps