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Coaching, Mailing Lists and Frugality

Information Marketing

In this Issue:

*Coaching
*Fred is Frugal/Wynn Resort Visit
*Reading
*Reason Why Issues
*Your List

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Coaching

Everyone needs a coach. And every coach needs a model to use to market their products and services. I’ve been doing coaching for almost 20 years. My practice has evolved and you can learn from my many of my mistakes.

By the way, that’s one of the benefits of having a coach. You don’t have to make the same mistakes everyone else has made. You can learn from your coaches mistakes or the mistakes that have been made by his/her other clients.

I’ve discovered that there are two types of people in this area. There are those who want to find the fastest way to get somewhere and don’t care about learning HOW it happens. That’s me by the way.

Then there are other people I know, who don’t want anyone to show or tell them how to do it. They want to learn (through trial and error) how to do it themselves.

Although this seems foolish to me, there are people who wouldn’t do it any other way. I can’t understand why, but those folks are wired differently than I am. Obviously.

To be a good coach, you have to be coachable as well.

In a book I have coming out later this year I’m concentrating on the MARKETING of coaching services.

I can’t teach you HOW to coach. That’s not what I know how to do. I do it my way, but I do it without thinking. I DO know a lot about the marketing of coaching services.

My coaching model is different from most people out there who coach. I don’t do the pay as you go, hourly coaching deal. I’m not saying this is wrong, but I do it differently. I do a coaching deal where people pay me a TOTAL of $20k ($5 down and $15 deferred) up front and 10% deferred.

I don’t have the time to coach people where I don’t have a strong, long term vested interest in the person’s effort myself.

Take a look at http://www.TheProductGuru.com to get an idea of how I’m doing things.

My coaching model is to charge people a lot of money up front AND take a piece of their “backend” in exchange for my knowledge and expertise.

If you’re just starting out as a coach you may want to sell/trade dollars for hours but in the long run I suggest you consider a model like mine.

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Fred is Frugal/Wynn Resort Visit

If you don’t know me that well, I happen to be very frugal. Others may call it cheap. I prefer the first option.

I actually registered: www.FredIsFrugal.com. Don’t bother to go there, there’s nothing there.

Last night I went to visit the new casino in Vegas that’s owned by Steve Wynn. I loved it. I like it better than all of the other “fancy” places here in town.

I went out to eat at one of the nicer restaurant. It wasn’t my choice, but I made a promise I had to keep.

Without any drinks OR dessert the bill came to $120 with tip. Despite my frugality, I do tip well and the waiter was delighted with the 29% I gave him.

Contrast this with what I just finished eating while writing this email sitting on my bean bag chair sitting in living room. Peanut butter and jelly sandwich on toasted whole wheat, 75% pb and 25% jelly. Raspberry jelly preferred.

Although the burger (yes I had a burger for $25) was one of the best, if not the best, I’ve ever had, I love peanut butter and jelly sandwiches.

I happen to eat to live, not vice versa. Funny how I have a number of friends who are very into fine dining. Sorry, but it’s wasted on me.

I tend to spend my money on education and travel. I will rarely prevent myself from getting something in that category that I want. Regardless of the price.

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Reading

I love to read. I get to do far less of it than I’d like. When I’m on vacation, I usually end up reading at least one book a day.

I tell you this because I think reading helps you to be better at anything that you do. I don’t even think that it always has to be reading within your field.

Every once in a while read a magazine you’ve never read before. Keep your mind open and you’ll find ideas popping into your head that you may never thought of before reading all your traditional “stuff.”

I read both fiction and non fiction.

Quick story. I remember sitting on a plane next to Ted Koppel ten years ago. How was Mr. Frugal sitting in first class? Good question. I get upgraded for free many of the times when I fly on American since I’ve got almost 3 million miles on that airline.

I got to tallking with the distinguished talk show host and then proceeded to ask him what turns out to be a BAD question. I asked him what his 3 favorite works of fiction were.

He looked at me like I had just stolen his toupe. Is that a toupe, by the way? I have no idea.

I guess I embarrassed him. He probably reads little or no fiction. No disrespect to Ted, but you have to be a little more well rounded. Even if you host Nightline you need to read some fiction. I think it helps you to see and understand things you just can’t get with non fiction alone.

That applies to all us business types as well.

I’m now on a quest to read every Pulitzer prize winning work of fiction since the awards were first started. I’ve still got a long way to go.

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Reason Why Issues

Whenever you interact with either customers or your employees, you need to understand the concept of “reason why” thinking.

What this means is that both people who work for you and those who buy from you want to know the WHY behind your actions and decisions.

Here’s an example. When I tell someone who is doing work for me to “just do it.” I am a dictator. I command respect only because I’m paying someone to do something. When you ask someone who works with/for you, make sure and include an explanation as to why you’re asking them to do it.

When I am working with someone I always make sure and say: Would you mind taking this audio program and converting it to mp3 SO THAT I CAN sell a license for it?

Rather than asking someone to just do it, I’m now giving a reason why they should do it. This gives people the feeling that they are working to do something worth- while. If not, they may think it’s just busywork which no one wants to do.

With customers, things are similar. If I tell you to go to www.FredGleeckSale.com and you can buy some of my products at over 50% off their regular prices. I need to add the explanation.

I need to say: “I’m marking these items down because they are on audio cassette and we’re no longer doing our audios in that form any more. If you’re going to cut prices by 50%, you need to tell people WHY you are doing it.

If you don’t explain why you’re cutting your prices, people won’t believe you. There has to be an explanation, a reason WHY you are doing what you are doing.

Make sense? It does to me!

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Your List (Database)

Someone asked me the other day what the single biggest asset was that I had in my business.

Without missing a beat I said: MY LIST

Your list is the most powerful money machine you have.

It’s similar to a politician’s relationship with the electorate. If you lie and cheat and let your “people” down, they won’t re-elect you.

Similarly, you need to make sure and understand that your list is like an electorate. If you lie and let them down, they won’t respond well. They will stop buying from you. They will tell their friends.

The same thing happens when you do things right. When you give great information to your list, they will respond. Yes, financially by responding to your offers. BUT, in other ways as well.

When I’ve had a personal problem or an area where I needed help, it always amazes me how people on my list have been unbelievably generous and considerate.

If you build a relationship with your list you’ll be surprised at how seemingly anonymous individuals will respond to you.

I’ve been absolutely amazed by the generosity of spirit I’ve seen from people. Even when people disagree with me, they tend to disagree agreeably.

One of the things I’ve learned is that people like to get to know you as a person. They don’t need the gory details of your life, but they do appreciate hearing about you as a person.

I have some friends in the film business. When someone I know tells me about a “star” the first question I always ask is: “what’s he/she like as a person?”

People want to know what you’re like as a person.

This affects your ability to sell. People will buy and respond to people who are perceived as friendly and likeable. It’s human nature. It’s 100% normal and natural.

What does this mean for you? You need to let people know who you are.

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Thanks for your taking the time to read this issue!

Filed under: Ezine

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