Phil Knight seemingly had a lot of slick editors to help him write his wonderful book (4/5 stars) on the creation and rise of Nike. But his passion, character, and insightful war stories all ring true. These were my favorite excerpts:
- What if there were a way, without being an athlete, to feel what athletes feel? To play all the time, instead of working? Or else to enjoy work so much that it becomes essentially the same thing.
- Every runner knows this. You run and run, mile after mile, and you never quite know why. You tell yourself that you’re running toward some goal, chasing some rush, but really you run because the alternative, stopping, scares you to death.
- The Japanese believe climbing Fuji is a mystical experience, a ritual act of celebration, and I was overcome with a desire to climb it, right then. I wanted to ascend into the clouds. I decided to wait, however. I would return when I had something to celebrate.
- After shaving, I put on my green Brooks Brothers suit and gave myself a pep talk. You are capable. You are confident. You can do this. You can DO this. Then I went to the wrong place.
I’m an enthusiastic Amazon, Apple, Uber, and Google user because they make my life easier. I don’t think twice before upping my Prime membership. In fact, I like these companies so much, I’ve even willing to pay a little extra for the convenience they offer.
But obsessive brand loyalty will ultimately hurt us, argue two ivy-league economists for USA Today. “Each of us can do our part to make sure Amazon and others never get to the point of ubiquitous domination. It might introduce a bit of hassle and inconvenience into your life, but only a tiny bit. But by taking on this challenge, you’ll be doing the job that antitrust authorities, in an ideal world, might take care of on our behalf – ensuring that consumers and workers, rather than the owners of capital and algorithms – get a piece of the surplus that’s created by new business ideas.”
Make no mistake, I’m a proud American capitalist. But I like it even more when companies compete for my business. “Think about those credit card teasers we all get,” the authors add. “As long as we keep businesses thinking they need to chase after us to try to lock us in, they’ll keep on handing us value rather than using it to pad their bottom line.”
If you agree, consider shopping with competing companies and platforms from time to time to keep your favorite companies on their toes, hungry for your business, and willing to let you keep a greater share of the value.
Courtesy New Line Cinema
“Hi, human. I sell this thing (in my case writing) for a living because I believe in it. It’s benefited myself and others you may know. Are you the right person to pitch? If no, do you know someone who is? If yes, is now a good time?”
I’ve been writing full time for 10 years now. Much of that time, if not half of the time, is spent asking people if I can write for them. In that sense, I’m either a writer who knows how to sell, or a seller who knows how to write.
Either way, I’ve followed the above pitch for the last decade. I don’t know if it’s the best sales approach, but it’s worked alright for me, and it’s one I feel is the most respectful.
Know a better way?
Does .99 cent pricing really work? Wouldn’t it be easier to round everything to the nearest dollar?
The answer to both those questions is a resounding “yes.” Although it would be easier to round up, stores use so-called psychological pricing because it demonstrably boosts sales by 8%, according to one study of 60,000 mail-order catalogs.
In short, the 30,000 customers that received rounded up pricing spent 8% less than the 30,000 catalog recipients of 99 cent pricing. (Note: The two catalogs were identical except for pricing.)
Granted, this study was performed 20 years ago. But with those kind of gains, the trend is sure to stick around for a long time.
If you’re reading this, I’m guessing you like money. What does money have to do with offline balance, though?
In my research, everything. Next to fame and sex—which by no coincidence are often facilitated by money—the latter is arguably the most sought after thing in life, particularly (but not exclusively) for male species.
For purposes of this newsletter, however, I won’t preach to you on the ill-guided focus of money or bottomless cup that is greed. Instead, I’ll let smarter people do it for me: Continue reading…
Content marketing has been around for centuries—ever since the first newspaper figured out they could sell ad space against stories that interested people. But it wasn’t until the last few years—even after mostly failed corporate blogging efforts—that content marketing has become a staple of modern marketing budgets in the social media age.
Consequently, commercial brands, communication departments, and Fortune 500 marketing arms are hiring former journalists, editors, and content strategists at an astonishing rate. One well-known software maker I consult for even has a bona fide news department. The place bustles like the New York Times newsroom. Their editorial content is generating executive interest and finding traction with online audiences.
That said, we’re still in the wild west of content marketing. Here are 10 ways to lay claim on the new frontier. Continue reading…
Take these. If you’re interested in journalism, the art of war, Star Wars, business, and/or are “white,” I think you’ll enjoy them:
- Access denied. In light of waning press access because celebrities, politicians, newsmakers, and producers now take their scoops and audiences directly to social media (instead of publications), we must “build a new independent media on a bedrock of explaining and celebration and condemnation,” writes John Herrman. Explainers, for instance, “assert authority without invoking expertise; they mimic the language of their audience; they offer closure and satisfaction in an endless stream.”
- Why it’s hard to win the war on terrorism. “War is so much easier when both sides are wearing uniforms,” writes Richard White.
- The first-world problem of being white. “What my son was expressing — that he wants the comfort of what he has but that he is uncomfortable with how he came to have it — is one conundrum of whiteness,” writes Eula Biss.
- Sneaky ways businesses trick consumers. Why that restaurant you used to love is no longer good among other things by Daniele Kline (i.e. cheaper ingredients slowly make their way into popular products).
- Star Wars strikes back. By Brian Hiatt. “The phrase that I used in front of, like, 5,000 Star Wars fans pumped to the gills, ready to see the trailer, was ‘It’s only a movie,'” Hamil says. “I was trying to appeal to the rational, sane people who know movies don’t really change your life, and if you really think we can make you feel like you’re 10 years old at 38, you know what’s gonna happen. So just don’t think that and you’ll be fine!”
Credit: Business Week
I recently read Paul Ford’s special report on software—all 36,000 words and three hours of it. If you work in computers, you should read it. If you work in business, you should read it. If you’re an adult human, you will learn a lot about the way things are and where they’re headed by reading it.
Admittedly, the story could have benefitted from some additional editing. Ford, after all, veers a little off topic. But like Bill Bryson, Ford is a master at explaining why things matter—in this case, why coders matter, and how they will increasingly influence the future.
If that’s doesn’t convince you to read the article’s entirety, maybe my 10 favorite excerpts will: Continue reading…
Taken at one of my local skate shops (Photo: Blake Snow)
Outside of groceries, my household shops online 90% of the time. That’s not me overstating something. That’s my wife’s estimate. She does the budget.
Over the last 10 years, Amazon Prime, Zappos, Target.com, iTunes, Netflix, and many other e-tailers have dramatically improved my family’s standard of living, product selection, and buying power, while reducing buyer’s remorse, time spent, and money spent consuming wants and needs.
Every now and again, I get romantic and decide to “shop local,” as they say. Usually I regret it. The last time I needed a pair of slacks, I went to a big box store. The style selection wasn’t what I wanted. 30 minutes of my life, gone.
Before leaving the parking lot, I launched the Amazon app, found a better pair of 4.5/5 star fitted-pants for less, and clicked “buy now.” The transaction took two minutes. The slacks would be on my door step two days later, and if, for whatever reason, I didn’t like them, I could put them back on my door mat, and a brown truck would magically return them for free.
We live a charmed life. Continue reading…
New Line Cinema
Selling is a challenge. It requires unwavering confidence, polite persistence, and a deep understanding of buyer demand. It also requires an ability to withstand constant rejection, unfortunate timing, and even bad luck.
Whether you sell to businesses or consumers, overcoming buyer objections in another challenge. Some may be unique to your trade, but most are quite common, regardless of industry. What are they and how can they be surmounted?
To find out, I ransacked dozens of reports, expert analyses, and top Google results. After the dust had settled, I encountered close to 100 specific objections. But most (if not all) of those are merely variations of seven fundamental objections, which I’ve distilled and categorized below.
Before getting down to the nitty gritty, a word of caution: sellers must first understand theirs and their prospects’ available “walk-away” options before addressing any concerns. If you don’t respect those, you’ll fail to appreciate the nuances of your market and have a harder time overcoming legitimate buyer objections.
Furthermore, “objections are a gift,” says Kyle Porter, CEO of SalesLoft. “It’s the customer telling you something that will help you sell to them.” In that sense, buyer concerns are rarely outright rejections—they’re merely requests for more information. Hence, good communication is key to overcoming them.
With that out of the way, here are the seven most common buyer objections and advice for overcoming them: Continue reading…
A year after the Great Recession reared its ugly head, my biggest account of nearly three years terminated our contract. At the time, I was the head of news, principal feature writer and editor-at-large for IDG’s second-largest media property.
During my tenure, I managed a small team of remote reporters, oversaw the production of thousands of stories and grew web traffic by 15% in a saturated market. But it wasn’t enough to save my job. When the going got tough (i.e. when the print business failed to transition to digital in time), I was an easy person to let go, despite my page view gains.
One reason: I only visited headquarters twice during my term. I knew management liked me, but they didn’t know me well enough to realize that I, too, had mouths to feed; that I was a peer, their equal. To them I was an impersonal guy that did good work from afar — an easy name to let go that didn’t evoke much emotion.
“Sorry, Blake. We’re cutting back.” That was it. Continue reading…
I want all my children to work fast food someday. Why would I subject the little darlings to low pay, hectic dinner rushes, rude customers, demeaning work, ignorant coworkers, monotonous tasks, slippery shoes, and stinky clothes?
The short answer: Life is filled with the above, so you might as well expose ’em while they’re young. The long answer: Much of what I learned in business I learned from fast food. Not the creative stuff. Not sustained rejection. Certainly not cerebral problem solving.
But working fast food taught me the essence of hard work—livelihood’s version of basic training. After two years as a low-level cooking, toilet cleaning, truck unloading, chicken suit wearing, stench absorbing, fry serving, drive-thru calling, and overly perspiring wage-worker at Chick-Fil-A, here’s what I learned about business, customer service, teamwork, and life: Continue reading…
An American businessman was standing at the pier of a small coastal village in Mexico. Just then, a skiff docked with one fisherman inside. His boat contained several large yellowfin tuna.
The American complimented the fisherman’s catch and asked how long it took to reel them in. “Only a little while,” the fisherman replied. The American then asked why he didn’t stay out longer and catch more fish. The fisherman said he had enough to support his family’s needs.
“What do you do with the rest of your time?” the American pressed. Continue reading…
My wife and I recently borrowed a large sum of money to buy a highly illiquid asset. To secure the loan, we disclosed more of our financial behavior to the bank than we’ve admitted to anyone else, including God. And rightfully so—again we were borrowing a large sum of money, and they wanted to make sure we’d pay it back.
In addition to scouring our personal finances, the lender took a fine tooth comb to our business finances. I’m self-employed. But my wife owns 50% of “the company.” I generate and service all the income. She gets half. Many would call her—as my lender often did—a “silent partner.” But she is anything but. Continue reading…
Warner Bros. / Blake Snow
My stomach turns anytime I witness waste, lavishness, or squandering. I smile whenever I see thrift, frugality, or resourcefulness. (See also: The difference between cheap and frugal)
In fact, the latter is a life-long pursuit of mine: To be resourceful in everything I do, including my personal and business endeavorers.
Which is why I relate to Amazon’s leadership principle on frugality, explained like this Continue reading…
For me, 2013 is a year of tens. Ten years of marriage. Ten years of taking care of business. Continue reading…
Dungeons & Dragons
In an effort to reduce the spam I email to friends and family, take this:
In a market economy, I believe state run economic development can sometimes be a good thing. But I suspect it’s usually a bad thing. Here’s why, in which a Rhode Island state treasurer cautioned against backing a celebrity owned company that would ultimately become a $75 million bath for taxpayers:
“In general, I would proceed very carefully on this. [The company] is in the Boston area where there are 200 venture capital firms, and it is in a very hot area of gaming so if it were in fact a compelling investment I would have to think it would be well funded already by venture capitalist; the fact that many have looked at it and passed is a red flag.” Continue reading…
Words to sell by.