9 Critical Components of Entrepreneurial Success (2 of 2)

Welcome back to the Magnetic Marketing Podcast. In this episode, we get to return once again to part 2. Now in part 1, Bill Glazer shared with us 4 of the 9 critical components of entrepreneurial success. Today, Bill Glazer is going to help us finish with the last 5 of those critical components. Now this is key for absolutely anybody who is trying to market and make money. These are the principles. So if you've missed out on part 1, definitely go back and listen in. You may very well wish you had. Let's go ahead and jump right back in.

I don't think there's anybody that has had a bigger impact in the field of direct response than Dan Kennedy. The legend of Dan Kennedy should be ignored at your own peril. They're not really lessons, they're kind of laws that you live by. Dan opened my eyes to what small business marketing looks like. Dan teaches strategic direct response that is timeless.

His ripple effect touches people who don't even know his name.

The world as we know it was changed because Dan Kennedy became obsessed with marketing.

Welcome to the Magnetic Marketing Podcast with your host, Dan Kennedy.

There's a guy that's doing really, really great stuff that, um, I've known him for a long time and he's become an unbelievable student of this, what I call outrageously effective advertising. And he's doing in two particular areas. One is in birthday mailings. And the last time I looked, if anybody disagrees with me, let me know. Last time I looked, everybody has a birthday every year. So he's doing birthday mailings. He's even come up with a very clever way to make it so you can have a birthday— ready for this— twice a year. And not only that, but also he's doing new mover mailings. And I asked him to come up here with me right now and show you some great stuff. So my good friend, Mr. Dean Killingbeck.

Thanks, Bill. I appreciate that. As Bill said, my name's Dean Kellingbeck, and I'm a recovering farmer. And here's why I'm going to tell you this. For 62 years, I farmed, right? I finally sold my last 40 acres, so I'm out of farming. But I have a big John Deere tractor, 185 horsepower, with a great big cabin, air-conditioned stuff, and I have to give that up. You know, big boys have big toys. Dan, what does he have? He has horses, right? They haven't been real nice to him lately, but my John Deere tractor has never broken my back, so I can say that because Dan's not here. The reason, the reason why I'm telling you this, there's a lot of new people out here, and if an old dirt farmer like me can become a successful direct response marketer, you can too.. And I want to say thanks to Dan, thanks to Bill, thanks to these type of things that they put on for us that we can come and meet other men and meet other women that are good response marketers. That's how I've had the leap. Yesterday we had the wealth seminar. Dan talked a lot about, and Bill did, about the phenomena. It finally has happened to me. Without these two it would have never happened. And for that, Bill, I'd like to say thank you very much. So what kind of business am I in? I'm in the do-it-for-it business. I have two unique systems that create more new customers in one month than most people get in a year. As Bill used to say, you know, give them the fish. I said, no, you don't have to give them the fish. You gotta fillet the fish You gotta put it in a pan, you gotta take— you gotta fry it, and then you gotta hand them the plate. So that's what people want, and that's why I got into doing new customer acquisitions through birthdays, monthly birthdays, and also through new movers. Everybody knows about A-Pile, B-Pile, Mail. Gary Helbert told us about that, right? Well, I've kinda extended it out, and 95% of my clients get a 10 to 33% redemption. I have a client that gets 43% redemption on his letters that we mail for him. Is that good or is that good? That is very good. So, let me show you what makes my system unique. Can we see this? Are they up there? We got to go up farther? Can you see that all? Oh, I see. I can look down here. Oh, it's— I can't see the whole thing.

This is scary. I'm doing technical stuff. Uh-oh.

There you go. All right. Thank you. Okay. Dan, if any of you read his newsletter, talked about stamps. I love commemorative stamps. I do a lot with commemorative stamps. As you'll notice, they're different. Every one of them is different. By the way, if you like a commemorative stamp, you better grab it and put as many as you can on— and buy as many as you can, because here's what happens: they go out of production real quick, okay? So I'm just going to show you some of my commemorative stamps that I'm using. You'll notice that they're all really big. Here's my happy birthday stamp that I just bought 100,000 of these things because They're 39 cents and you know what happens May 14th, we go to 41 cents. So I wanted to make sure I had at least enough for the next 2 months, okay. I'm going to give you some $100,000 ideas. Now I call them $100,000 ideas because Bill and Dan have already taken the million dollar ideas. That's a joke, people. So anyway, I got $100,000, but it adds up to real cash after a while, okay. Here's 2— oh. Oh, here's two $100,000 ideas, okay? One is put the commemorative stamp on, put it on crooked. I had to actually train my girls to put them on crooked because they wanted to put them all on there perfect, you know? The second one is look at my address. What have I done with that address? It's on a slant, folks. It's indented. It doesn't look like a square box. Very, very important. This is truly sneak-up mail. Okay, so we're gonna— there's $200,000 ideas right there. Okay, so now what do we do for that? We put a letter in there. Now let me show you some of the letters that I'm doing, just to give you a feel for what they look like. You notice at the top they say happy birthday, they tell a person's name, they're all different types of colors. Here's a $100,000 idea for these colors. The reason why they're different colors is because I use the logo colors of the company that I'm with. Like here's one for Toys R Us. You can't see the whole thing. They do— I'll move it up and down. They do yellow, red, and blue.

Okay.

So, there's your $100,000 idea, but notice in this. Happy birthday, guy's name, we put in there what the offer is. We go down a little farther, we put in a testimonial. We go a little farther, PS. Okay? So, we're doing direct response marketing for our clients. But that's not all. We don't stop there. We put in a really, really nice gift certificate that of course matches the color of their letter. Okay, very quickly, again we put on there exactly what we have, the free birthday, when it expires, it's big, you can see that. But I'm gonna give you a $100,000 idea on this. Everybody can do this, right? Here's your $100,000 idea. On the back, we put a map. Don't take it for granted— this is new customer acquisition— that people will know where you're located. So there's what we do. Now, did you get this? 3 pieces of personalized matter— mail all in one envelope. Okay, all in one envelope, 3 pieces. You got the envelope that's personalized, you got the letter that's personalized, and we personalize the gift certificate. Okay, but we don't stop there, right? I was scratching my head, you know, sequential mailings. Bill says if you got a good list, and Dan says if you got a good list, what do you do? Mail them again, right? Well, I'm thinking, what can I do for birthdays to mail again? Well, what we'll do is we'll take all the people off the list that responded and redeemed their gift certificate, and we'll give them a belated birthday card. Okay? Everybody loves kids and puppies, right? Am I right? Thank you. Okay, so what we did is we used kids. But here's your $100,000 idea that I'm gonna give you. And you'll notice with these that we put again on there it's personalized. We put on there what the offer is. So forth. We try to make it a little fun with what the kids say. Here's the thing, I found out that if you use a son or a daughter or a nephew or a niece or granddaughter or grandson, I get double the response of people buying these. Okay, how cool is that? That's cool. Okay, so again, just a quick one, the value of what the offer is on the back, guess what? Got the map, right? So the other day, since birthdays are the largest holiday in the world, which they are, I mean they're bigger than Christmas, they're bigger than it, but it's just that it's kind of spread out, but it's still the largest celebrated holiday that there is. I was at Roy Fatz boot camp and one of his members did a half birthday and I go, and Roy showed it up on the screen, he says, Half birthday. I said, that's me. And it took me about 15 minutes to write the half birthday. It took me another 20 minutes to get out there and call my office manager, and by the time I got home, she had it all done and ready for me. I told her what I wanted.

We put—

I have 100, a little over 100 customers. We sent them out. We already had 12 responses before I got here. And here's what the half birthday looks like. We put it on a half letter. It's a half birthday. Now, do you know what a half birthday is? It's 6 months after your birthday, okay? How cool is that? I'm gonna tell you something cooler. We take an envelope, cut the envelope in half, and we have a half envelope. Okay, so I don't know if you can see the back, but it truly is a half an envelope. We still put our big stamp on there. We still make it crooked because we want them to open it. Great.

Thank you.

So, that's my birthday sequence and it really has worked out very well. Like I said, it ain't bragging if you're doing it. That's what they say down in Texas, I think. It ain't bragging if you're doing it. Well, I'll tell you, they're doing it, okay? New movers. Get a list. Do the same thing. This one happens to be automotive. That's why I like to have the automotive stamp on there. You know, we do the same thing. We send them a letter. Okay, it's got their name on there, what it is. This one's for chiropractor. Free dinner, okay. And I'm going through this real quick, folks. There's our gift certificate again, the back of it so you can see that. Now, here's where it gets interesting. Again, what did Dan and Bill say? If you got a good list, what do you do? Mail them again, right? So this might look a little familiar. I have the second mailing, so we take everybody off the first mailing that redeemed their certificate and we send them a letter. Does that look familiar, Bill? Just a little. This is S&D all the way, and the letter has, of course, a coupon on it, you know, tells them to come on in, and I call it tell a story letter, okay? And I give them two choices because I like both these letters. I love my little kid letter. So we have it from their son or daughter or grandchild or whatever, and it's a little kid letter. And again, what we do is on the back, since we don't want a little kid letter to write everything, we say, "My mommy wrote this for me," so we can actually see who it's to and so forth, so it looks a little more clever. Okay, now they don't come in. Right? What do you think we do with them? We email them again. It's a good list, right? So we send them the last one. Oh, by the way, did you notice in Bill's letter, in the newsletter this month, what did he say? Size does matter. Right? How many read the letter?

Okay.

Size does matter. So everything that we do is 6x11 postcards. We do nothing smaller. Everything. I use, if I had the stamps on here, I use no red, white, and blue stamps. Period. Okay? I understand if you're doing thousands and tens of thousands and those kind of mailers for some of you information guys, you don't have a choice. Okay, you have to because they come on big rolls and they spit them out, but we don't need to do that. I got one more thing that I think is probably— by the way, the $100,000 idea was that the sequential mailings. You need to do sequential mailings if you have a good list and it works out well for you the first time. It will work out well for you the second time. But here's my last letter, last idea that I'm doing. I like this so well. This is something that we just introduced. Everybody likes secret shoppers, right? And you have to pay all this money for the secret shopper to come in and shop you. Well, why should you do that when you can send a letter to your client that says, Maggie, can you keep a secret? How about this stuff free? And what you do is you have your own client come in. Of course, we put it in an envelope, right, with the right type of stamp on it. And then we send a survey along with it. So we send the survey out to our own clients we have and we let them be the secret shopper. So they have to come in and buy something from you. Then they have to fill out the secret shopper form, staple it together, the receipt, and send it back to you so that you can send them out a gift certificate so they have to come back to you again. How smart is that? So now you have them twice. You bring them back again.

A couple of things I'll just point out. Dean mentioned them all, but I don't want you to miss them. Little hinges open big doors. So like doing little things like putting the stamp on crooked by doing things such as the addressing, the hand addressing not being symmetrical. By using things such as stamps that are commemorative stamps. You also notice that, you know, most people when they send out a coupon, what's on the back of the coupon? Nothing. He understands that, you know, blank space doesn't sell anything. So you're looking for your blank space everywhere you're at to figure out, okay, what could I use the blank space for in order to at least have it sell something for me. If you've got blank space and you can't figure out anything to put on it, what's the default? Always? Come on. Testimonials. Always the default. Blank space, throw a testimonial up there. You know, see what our customers are saying. And then just put your testimonials on there. But, and the last thing I'll tell you is that Dean, he really is Only 19 years old, but since he's celebrating half birthdays— good job. Okay, thank you. All right, let's get back to our list of 9 critical components of entrepreneurial success. So Maestro, if you can get me back up there. Number 5, you must continually acquire new customers and communicate with existing customers multiple ways. What is— and let's hear it real loud— what is the worst number in marketing? Absolutely. And so many people make this mistake. They got only one way to do something. They got one way to get new customers. They got one way that once they get a new customer, that to communicate with the customer. How many entrepreneurs do I meet that are exclusively using email marketing? It's disgusting. I think it was the last issue of the newsletter, I showed one, I don't think he's here, but one of our peak performers has a company in New York which he provides educational programs to the schools there. He was only communicating with them by email. He came to the Peak Performers meeting and he saw we had Dr. Greg Nelson there showing his outrageous advertising. He showed off the pill box, the pill, the prescription pill thing that you mail out in the mail and I believe his name was David Gross. He grabbed this, sent this thing out, reported back to me, had a terrific response. Half of the response was, "Hey, I want to do business with you." The other half of the responses are, "You're sending me anthrax." But he had a terrific response. And so we were more interested in the ones that said, "I'd like to do business with you" response. But he's getting away from just doing email marketing. He's getting more diversified. You've got to be diversified. If you only have one way to get customers, if you only have one way to communicate with your customers, I can assure you your business is at risk. So many of us, when I first started getting into the information marketing business in the late 1990s, we were sort of cocaine addicted to fax broadcasting. It was the easiest, cheapest way to get customers. What happened? They took it away from us. I have a client of mine in Baltimore that I work with who's in the home improvement business. What was his number one way to get We had new leads, outbound telemarketing. What happened? They took it away from us. If you've only got one way to communicate with your customers, if you've only got one way to get your new customers, you are— your business is at risk. The other thing that people make mistakes is they look at the different ways they got and they say, "Gee, this one is much more cost efficient than this one," but if this one is profitable Don't give up on it even if it is not as inexpensive as this one. You need to dollar-cost average, but the more ways you got to get people, the more ways you have to communicate with them, the better your business will be and also the more valuable the asset will become.

Number 6.

This is kind of a biggie and this is what's happened Over the last 2 days, people have come up to me and they said to me, this is the normal one I get, is, "Bill, I can't afford you and Dan to write copy for me." Which is a very good thing when people say that to us because I'm not looking, either of us are looking for any more clients, so that's great. And then they say, "Bill, who can I get to write copy for me?" I wanna hire somebody, and I say to them, okay, that's fine. However, you wanna understand what good copy is. I don't care if you wanna outsource it. You wanna understand what good copy is, because even if you outsource it, you've gotta be able to discern if it's good copy for your business. So I'm telling you that probably the number one skill that an entrepreneur needs to have is the ability to either write good copy or understand what good copy is. It's not— this is not a something you can just hand off to somebody and walk away. Yeah, you can hand it off, but you be— you got to be able to get it back and understand if this is good copy or not and figure it out. So I'm telling you is you've got to learn the skill of copywriting. It is really the number one skill you got. You don't have to learn how to write a million-dollar sales letter or have to write one, but you got to be able to see a million-dollar sales letter and say, you know what, this is a damn good sales letter, this hits my point. You got it. TJ Rolletter, who's one of the greatest copywriters in the world, is my hero over there shaking his head up and down, is shaking his head up and down agreeing with me on this one. Okay, and again, you've never heard this before at a Glazer Kennedy event, telling you to understand good copy, not just be able to write good copy. I'll also tell you that in your everyday business, I don't care if you outsource your copy, in your everyday business you're going to need to be able to write some copy. You're going to need to be able to write some simple correspondence with your customers or vendors. You're going to need to be able to write some simple correspondence or simple things to somebody out there. Well, you know what? Little hinges make big changes. And learning how to use certain words and avoiding certain other words make a whole lot of difference. Tom Hopkins, who's here with us tonight, I don't know if he's going to talk about this or not, but one of the things, the earliest things I learned from him was words to avoid and words to use. For example, and we'll probably be talking about this tonight, but never use the word order form. All we're going to do is come over here and let's fill out the paperwork. Never use the word buy. What we would like, you probably want to invest. So there are words to use and words to avoid. You've got to understand copywriting in order to understand this. Little hinges open big doors. So every one of you have got to acquire this skill of either learning how to write copy or at least understanding what good copy is. Number 7, in your business you've always got to ask yourself, what's next? What is next? Last night we had a special session which a couple hundred of you were at on the information marketing business, and I shared with you my formula on the information marketing business which is— a 6-step formula, and the last step of the formula is WN, which is what's next. That is not unique to the information marketing business. That is true to every business. Every business always has to have a what's next strategy in your business.

Why?

Well, a couple of reasons. One of the reasons is is that things change, and eventually if you just continue to run your business as you always run your business, it will not be the same, it will not be as good. You can't rest on that. The second reason is, is because if you do your job right, your customers' willingness to consume will be greater than your ability to provide. So you always have to have a what's next in order to provide. And by the way, you don't have to provide the what's next. You could be the conduit for what's next. You can JV with other people who have something else that your customers will want to have and do it that way. That's the way you could be your what's next. It's enlightening to me when I hear from our members, and I hear it a lot, is people say to me, Bill, I came to one of your events and I met somebody in the hall and we had a 7-minute conversation conversation, and that gave me another $250,000 in revenue because they did a joint venture together. Tonight, this afternoon, our Go Plus meeting, when everybody gets up and introduces themselves, this is about the fact that people are being able to seek each other out in order to figure out how they can do things together. Dan and I love that. We like opening our members up to each other so that they can do things together. And so look for those opportunities of the what's next. Number 8, the big money in selling is in selling more to existing customers. Kind of loops back a little bit to number 1, which is riches in niches, but the big money is in selling more to existing customers. So Dean showed you one of the terrific— if it applies, if you're in a geographic area, your business— he showed you a terrific strategy in a geographic area, which is a new mover campaign. And that is a particularly good strategy. I've been teaching it for years in my BGS marketing system because when people move into a new area They are looking for places to develop new relationships with because people like to do business with people that, that are within their geographic area, usually in the 3 to 5 mile radius depending how urban or rural your, your, where you live is. But with saying that, new customer acquisition is only good for that which is new customer acquisition. Let me tell you all sort of a little secret, insider secret, at Glaser Canyon Circle. The most incredible free gift ever offered, the most incredible free gift ever offered where we give our new folks and how many of you here have come to us through the most incredible free gift ever offered? Okay. We give people 3 months free membership, Glaser Canyon Circle, we give them a big CD set of a Dan Kennedy seminar and two other CDs. One is of a Corey Rudl, the late great Corey Rudl interview. Another one is with Robert Ringer, author of Winning Through Intimidation. We give all that to them and it's $19.95 for shipping and handling. We lose money on that. We lose money on that. The big money for us is in getting you as a member so that there is the ability to sell more to existing customers. So even with new members, it's okay to lose new customers. It's okay to lose money on it. I'm not saying you've got to do that, so please don't rush home and say, okay honey, this is great, I can now lose a lot of money getting a lot of new customers. However, okay, it's okay to do that if the economics work. The big money is in selling more to existing customers. Not in making the big money on the first transaction. So stop thinking in terms of first transaction thinking, think in terms of customer for life thinking. That's where really the big money's at. Number 9, and then we're gonna get into some of the dreaded housekeeping stuff and then we're gonna have Mr. Cobain up here. Oops. You met our InfoMastermind members, our Platinum members, our VIP members, our Peak Performers members. They are in a mastermind group. They're in a group where there's association. The power of association is one of the critical components of entrepreneurial success. Success. Being in, having a group of association. On your local level with your independent business advisors, most of them have mastermind groups. I told you I visited Dave Dixon's group. Amazing what I saw there in terms of the people that were in this group, but how they were sitting there, not only did they enjoy being with each other because they're the loneliest people in the world so they need a place to be with each other, Not only did they enjoy that, but also the fact is how they were reporting by this association, by people that were taking them out of their comfort zone and moving them to the next level, what that meant to their business. Now think about how— what happens in your own businesses. It's very rare if you're the owner, if you're the entrepreneur of that business, it's very rare that people will take you out of your comfort zone. What they will do in your business is, is they're looking for you for leadership, so what you tell them is what they want to follow. They're not taking you out of your comfort zone. Your own friends, they're not taking you out of your comfort zone. If anything, they're holding you back in most cases because they themselves are losers, and so they don't want you to be any more successful than them. So losers like to be with other losers. So they're not going to take you out of your comfort zone. This whole idea, the Napoleon Hill concept of masterminding, is absolutely brilliant. You need to understand that through association of the mastermind process, what that will do for you, that is a significant critical component of entrepreneur success. So there you have the 9 of them that we've assembled for you today. And again, you've heard things from us today that you wouldn't hear from us in the past, such as nobody ever gets rich by themselves. I tell you, you gotta reach out with other folks that you can grow your business with. You're not going to be able to do it alone.

Thank you for listening to the Magnetic Marketing Podcast with Dan Kennedy. If you you love hearing in on these lost Dan Kennedy talks and speeches and calls, then please let someone else know about this podcast. That's how you can help it to grow, and the more it grows, the more free Dan Kennedy we can bring to you. Also, Dan would love to give you the most incredible free gift ever designed to help you make maximum money in minimum time. Now, this free gift comes with almost $20,000 in pure money-making information for free just for saying maybe. You can get this gift from Dan right now at NoBSLetter.com. Not only do you get the $20,000 gift, you also get a subscription to 2 marketing newsletters that will be hand-delivered by the mailman to your mailbox each and every month. One from Dan Kennedy and one from me, Russell Brunson. To get this gift and your subscription, go to NoBSLetter.com right now.