August and beginning of September are notoriously slow for business.
People are sipping margaritas on the beach.
People are getting married.
So the last thing they want to do is check their emails. BUT, that’s no excuse to stop.
We’re up to around 45 emails sent so far with 1 positive reply, but I’ve done so many of these campaigns that I know it’s not worth freaking out over.
And the reason why I’m slowly sending a few emails a day is because of domain burnout. If you’re going to do any cold email campaign of any kind, make sure you grab a few domains and warm those domains up.
I’m not gonna go into the technical detail of how that’s done here. There are plenty of tutorials on Google or YouTube. But if you’re curious, I use a software called Warmup Inbox (No, I don’t have any affiliation with them).
But before that, I wanted to breakdown the costs of this new venture so you can have a complete picture of what I’m doing.
So here’s a list of things I’ve bought and am currently using to start P4P:
Domain - $12/year
Carrd.co - $19/year
Warmup Inbox - $9/month
Google Workspace email - $6/month
Canva - Free (Might upgrade to pro for $11.99/month)
Substack - Free
Grand total spent so far: $46
You can even go cheaper than this, but this is what I’m currently using. For less than $50 you can start a service business that could make you hundreds or thousands of dollars per client.
I’ve always said the best investment you could make is not in real estate, stocks, index funds, or crypto.
It’s in yourself.
Your skills are what future-proofs you if everything goes to shit.
And if you’re not willing to invest $46 to at least try to change the trajectory of your life… then sorry, this game ain’t for you.
I know there are motivational speakers out there who are in the belief that anyone could start a business.
I don’t believe that at all.
To be a business owner, it requires a radical change in identity.
And the human brain automatically seeks comfort and resists change. It’s wired into our DNA. Our reptile brain is focused on survival and transmission of genes.
The wise words of Warren Buffett conveys this nicely. “Chains of habit are too light to be felt until they are too heavy to be broken.”
Unfortunately, this identity shift requires a serious change in thinking. For most, the chains are too strong, like an elephant who was chained to a stake since birth.
When the young elephant was born, it fought as hard as it could to free itself from the stake. But all its attempts failed.
So when the elephant grew up and now possessed the strength to free itself from the stake, its mind is still stuck on the initial imprint of the stake.
It doesn’t believe it could free itself from the stake and accepts being stuck.
This is the cognitive dissonance most people face. They daydream of all these luxuries and aspirations…
But they don’t believe there’s a way out from their current situation. Like their destiny is already set in stone or something.
So the only option is to summon the courage to pursue the uncertain path. But naturally, that’s a scary thought for our brain.
Anyway, since it’s been an anti-climatic week, let’s talk more about principles.
Last week, I said I would dive more in-depth into avatar research. So let’s start there.
So I get it. Research sucks and it’s like watching grass grow. But it’s the most important foundation of any business idea or offer.
The truth is, no one gives a crap about how cool your idea is or how innovative your business is.
Because business ain’t about you.
It’s about your customers. Your money is in their pockets.
So most people skimp on research. They look up really surface level things like age, gender, education, basic likes/dislikes.
But that information is just about as useful as a wet match.
Now, I’m going to share with you 5 questions I use with my private consulting clients that will put you lightyears ahead. And really put you into the mind of your prospects.
What are the desires they’re looking for in relation to my product/service?
What problems are they currently facing while pursuing these desires?
What is their current plan(s) to solve this problem?
What don’t they like about the plan?
What do they like about the plan?
You’re not the only one solving your problem. If you are, it might not even be a real problem to begin with.
Think about canyon with a rickety, broken bridge connecting two cliffsides. Your prospect wants to get to the other side because some evil villains (their problems) are chasing them.
That bridge is the current plan they’re using to get to the other side.
But there’s problems with this bridge. The ropes are hanging on by the thread. There’s missing rungs in between.
Figure out what makes that bridge broken and why it’s not the best or safest way to get to the other side (their desired outcome).
Then, figure out how your plan (a new bridge) gives them a new way to the other side.
Also, it helps to describe your prospect like a fictional movie character.
Here’s an avatar example from the book Made To Stick. This avatar is named Saddleback Sam.
“Saddleback Sam is the typical unchurched man who lives in our area. His age is late thirties or early forties. He has a college degree and may have an advanced degree. He is married to Saddleback Samantha, and they have two kids, Steve and Sally.
Surveys show that Sam likes his job, he likes where he lives, and he thinks he's enjoying life more now than he was five years ago. He's self-satisfied, even smug, about his station in life. He's either a professional, a manager, or a successful entrepreneur.
Another important characteristic of Sam is that he's skeptical of what he calls "organized" religion. He's likely to say, "I believe in Jesus. I just don't like organized religion."
While you read that description, can you picture Saddleback Sam in your head?
If you can’t do the same with your avatar, then you haven’t gone deep enough. If you can, you’re on the right track.
Here’s P4P’s avatar, Jim the Fighter.
Jim the Fighter:
Jim is an up and coming or veteran MMA fighter who’s spent his entire life focused on training.. He’s usually married with one or more children. He fights for his family, they are his inspiration and what gets him through tough training sessions or hard times.
He’s part of a bigger fight team where he trains with several training partners and coaches he trusts dearly. He has aspirations of achieving stardom and becoming a champion in the UFC or other big organizations. He believes this is how he’ll have to attract sponsors and brand deals without having to reach out to them at all. And it’s how he’ll be able to achieve financial freedom for himself and his family.
Jim would reach out to brands, but he doesn’t have time between his family life and fighting life. Jim would rather focus on winning his fights because he knows this is a young man’s sport. The clock is ticking, but Jim doesn’t know he’s letting a valuable asset collect dust. That asset is his personal brand.
I can picture Jim in my head. And whenever I develop a sales or marketing message, Jim is who I’ll be writing to.
Yes, I know there are female fighters. And I’m not only targeting male fighters. But they share a similar experience.
With that being said, create your own Saddleback Sam or Jim the Fighter. I’ve found it to be one of the most valuable exercises I’ve ever done.
I’m gonna end this week’s newsletter here, don’t want to blast you like a firehose. Plus, I want you to anticipate next week’s issue like a Game of Thrones episode (or House of Dragons 👌).
Next week I’ll dive a little deeper into principles of cold outreach. I’ll show you how a small fry like me is able to get meetings with high net worth individuals, investors, NBA teams, and massive social media influencers.
On another note…
Be aware of “cold outreach gurus” in the world. Chances are, they’ve never sent a cold email or closed a deal through cold email in their life.
From the people I’ve seen, they just copy each other’s bullshit and regurgitate it. All for the purpose of clout and false authority.
Tsk, tsk. People will do stupid things to get love from strangers on the internet.
Cold outreach is a tool just like sales, marketing, copywriting, advertising, and anything else. Unless you’re taking advice from someone in their area of expertise, take advice from highly specialized folks with a grain of salt.
Charlie Munger said, “To the man with only a hammer, every problem looks like a nail.”
So don’t be a person who only has a toolbox full of hammers.
Anyway, I’d appreciate it if you could drop me a subscribe below to help my low self-esteem too.
Trust the process, love the process.
Kevin