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Failing Forward : 2 Failed Businesses, 3 Hard Lessons
Welcome to another issue of the no-BS newsletter dedicated to demystifying the world of passive income, where we share practical, reliable strategies to build and sustain income streams that work for you.
If you want to help someone else make money while they sleep, forward this email to them.
In today's issue:
2 Failed Businesses, 3 Hard Lessons
Framing 101 with Gary Provost or how to write content that does not suck
The Four Seasons Pricing Strategy
Why WSJ and Forbes Are Buzzing About e-Farming
How to Make More and Work Less
The Lord Works in Mysterious Ways, But He Won't Buy You a Lottery Ticket : A Hilarious Look at Action-Taking
FROM MY WORLD
2 Failed Businesses, 3 Hard Lessons
In 2009, my family and I started a bed and breakfast business. Spoiler alert: it went really bad. Here’s why.
My dad and his sister were the brains behind the operation.
My aunt went all-in, quitting her job and tossing $50,000 of her savings into the pot.
We found a cute house, spruced it up, and opened for business.
Dad, with his cooking chops, took charge of the kitchen, while I was charged with the online marketing.
We thought we were onto something big. But reality smacked us in the face.
Sure, my marketing could’ve been better, but that wasn’t the only hiccup.
The monstrous costs and the risky nature of a physical business hit us like a ton of bricks.
We were swimming in expenses and sinking in stress. Dad even got a micro heart attack.
The strain also wrecked my relationship with my aunt. We haven’t spoken since.
Lesson 1: The Pricey Gamble of Brick-and-Mortar Biz
The B&B nightmare taught me a valuable lesson: traditional businesses come with a hefty price tag and loads of risk. It reinforced my belief that online ventures offer a smarter, more budget-friendly path.
As we licked our wounds from the B&B flop, I dipped my toes into the online world.
I figured, since brick-and-mortar failed due to costs, surely an online business wouldn’t meet the same fate.
Little did I know, more lessons were in store.
I gave network marketing a shot with a company called Global Domains International.
The pitch was simple: get people to sign up for a website and hosting account for $10 a month, and I'd earn $1 for each signup.
Sounded like a goldmine, right?
Wrong.
I managed to recruit only three people: one of them was my best friend who quickly canceled, and the other was my mom, who didn’t even know I used her credit card to sign her up.
My relentless efforts to recruit friends and family alienated many.
Despite my enthusiasm and efforts, the project flopped.
Lesson 2: The Dangers of Jumping In Without a Mentor
I soon realized that my lack of experience and reliance on untested strategies were major stumbling blocks. The lesson was crystal clear: rushing in without a solid plan or prior knowledge is a recipe for disaster.
After the flops, I didn’t throw in the towel. Instead, I found a mentor who showed me the ropes of affiliate marketing.
No more guesswork or blindly diving in—I stuck to products that were tried and true.
This time around, it finally worked! No fireworks, but I held my first online income check in my hand. Which brings me to lesson 3...
Lesson 3: Embrace Change and Stay Persistent
In the school of hard knocks, I learned that adaptability is key.
Things don’t always go according to plan, but that’s no reason to throw in the towel.
Instead of dwelling on setbacks, I embraced them as opportunities to learn and grow.
Whether it’s tweaking my approach or pivoting to a new strategy, I’ve come to understand that success is often a result of persistence and flexibility.
If there's one takeaway from all of this, it's that success is anything but a straight line.
It's tempting to look at someone's achievements and assume it was smooth sailing all the way. But the truth is, beneath every success story lies a mountain of failures and setbacks.
It's like an iceberg—what you see above the surface is only a fraction of the whole picture.
So, the next time you feel discouraged by your own failures, remember this: as long as you keep pushing forward, one day, you'll break through the surface, too.
LESSONS FROM LEGENDS
Framing 101: Turn Your Content from Meh to Marvelous with Gary Provost's Tips
Struggling to make your content captivating? Join the club! Words can either win people over or send them straight to snoozeville - that's the power of framing, baby!
A great resource for learning about framing ideas is Gary Provost.
Here are 3 powerful tips from Gary that you can use to transform your content:
It's all in the delivery: Different words, different rhythm, BAM! People see your message in a whole new light. Think about it:
Boring: "We're having a sale on shoes." (Yawn...)
Provosty: "Step into summer savings with our sizzling shoe sale!" (Sounds like a pool party for your feet!)
See the difference? Provost teaches you to use strong verbs, descriptive language, and a touch of excitement to grab attention.
Spark Curiosity: By using hints, questions, or unexpected turns of phrase, you can create a sense of mystery that compels them to keep reading and discover the answer. People naturally gravitate towards things that are fun and engaging.
Boring: "Our new report is available for download." (Who cares?)
Provosty: "Unlock the secrets to success! Download our new report that'll have your competition shaking in their boots!" (Intriguing, right?)
Positive Spin, Positive Experience: Words hold immense power, and Gary Provost understood that perfectly. Our brains are like finely tuned instruments, and negative words can trigger a whole cascade of not-so-fun effects.
Negative language activates the amygdala, the fear center, which can make readers feel anxious or frustrated. Positive language, on the other hand, activates the reward system, creating a more receptive and positive experience.
The Wrong Way: "We don't recommend this product for beginners." (Sounds discouraging)
The Provost Way: "Master your skills with our advanced [product name]! Perfect for those ready to take their game to the next level." (Positive and empowering)
By using words that uplift and inspire, you set the stage for a positive interaction with your audience.
So, ditch the boring and embrace the power of positive language, rhythm, and intrigue!
WHAT'S BUZZING
3-Step System To Building Multiple Streams Of Income With e-Farming
e-Farming is the best way to make money online for people who lack technical skills and who don’t want to start an Amazon business.
According to the Wall Street Journal and Forbes, it is one of the best ways to participate in the internet gold rush.
e-Farming does not require you to build websites or pimp out your social media and harass your friends and family. Even Hollywood celebrities are jumping on this trend.
MINDSET MAKEOVER
The Lord Works in Mysterious Ways, But He Won't Buy You a Lottery Ticket : A Hilarious Look at Taking Action
Joe went to church every week and prayed fervently, "Please, Lord, let me win the lottery."
Years and years passed, and Joe kept up his weekly routine. "Lord, it's me again. Please let me win the lottery."
One day, after Joe finished his prayer, the church trembled, and the heavens opened up. A booming voice echoed throughout the church: "Joe! Meet me halfway and buy a ticket!"
Joe's story highlights an important truth: faith and hope must be coupled with initiative and effort.
You can't sit back and wait for success to come to you. You need to take concrete steps toward your goals.
Success doesn't come to those who wait passively; it comes to those who work towards it.
So, in your own journey, remember: don't be like Joe—buy that damn ticket first!
FOR YOUR LISTENING PLEASURE
The Four Seasons Pricing Strategy
Wondering how to move beyond low pricing strategies and step into the world of high-value pricing?
Look no further! This episode is tailor-made for you. We explore the art of pricing and its profound influence on your brand's identity and customer expectations.
Whether you're considering a shift in your pricing approach or simply want to understand the ins and outs, we have the keys to the kingdom.
We'll discuss the principles behind premium pricing strategies and how they contribute to a perception of quality and value.
Tune in to learn how to align your pricing with the value you deliver, ensuring your pricing strategy supports your brand's long-term growth and reputation.
CURATED READS
Work The System
"Work the System: The Simple Mechanics of Making More and Working Less" by Sam Carpenter is a must-read for anyone wanting to be more productive and efficient.
Carpenter explains that the secret to success is understanding and improving the systems in our daily lives. Instead of dealing with chaos, he gives easy tips on how to simplify and streamline tasks to get better results with less effort.
Whether you're running a business or aiming to organize your personal life, "Work the System" offers powerful strategies to help you streamline tasks and achieve your goals faster.
RIDDLE ME THIS
Can You Crack The Code?
I have no voice but speak to all
I'm often sought but hard to stall
I'm earned, exchanged, and sometimes stored
With me, many dreams are scored… What am I?
Think you've cracked the code? Reply to this email with your guess and see if you're right!
Last week's riddle was: I travel fast and reach far, In emails, ads, and PR, I capture eyes, spark desire, with clever words that never tire… I am marketing
MY GIFT FOR YOU
I Want To Ship You a Copy of My Book
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