Update: I attended the first half of a Peter Lowe "Get Motivated" public event. Zig Ziglar, Steve Forbes, and Peter Lowe relayed messages from their heart. And The Redhead (Mrs. Ziglar) was there also. Zig testified it was she who made Zig who he is. That's powerful.

Here's my take on it:

I wept today as I joined 20,000 in singing our national anthem. There's something safe being among a huge multitude that gave me permission to express my inner feelings. Watching Old Glory on the big screen waving proudly, boldly, and freely touched my soul.

All of a sudden:

I became proud.

I became bold.

I became free.

And I hurt seeing the bad and ugly things happening in our nation.

America is not only a republic, a world power, or the leader of the free nations: She is an idea, a belief, and the land of hope for the little guy or gal who still have dreams.

Do you still have dreams?

Feature Article: Selling the Sizzle or the Steak?

Resource: Instant Income

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Law of Attraction...

There seems to be a lot of buzz about attracting the right success and circumstances into our lives. And while we may want the best things in life for ourselves, we may also attract the wrong things if we're not careful.

At a recent social gathering I met a realtor who sent 5,000 post cards and got zero replies. This is very, very bad. And expensive.

Because he was a friend of the host, I mentioned I could probably raise his response rates. He called the next day to feel me out. I wasted almost 20 minutes on the phone explaining a few direct response marketing strategies. I gave away some valuable information.

But the more we talked, the more I wanted to hang up. Why? Because I wasn't making the best use of my time.

My bad...

I saw right away he wasn't a serious player and the phone conversation verified it. And even if he decided to work together with me on a future project, it didn't seem his real estate business has enough legs to sustain substantial growth. So it's critically important to screen out those you attract who don't meet your criteria. Believe me, you don't want the headaches.

Selling the Sizzle or the Steak?

Dear Associate,

Which method is more lucrative? Which has greater long-term growth potential? Can they be combined?

You're selling an e-book titled 101 Ways to Make Chocolate Chip Cookies retailing at $27. You don't have a database of names to market to so you decide to sweeten the deal by offering a bundle of bonuses that total more than your $27 e-book. You negotiate with five other authors to throw in their e-books as complimentary gifts when prospects buy your e-book. They agree.

You include 101 Toppings for your Chocolate Chip Cookies ($19), 15 Culinary Techniques to Knead Cookie Dough ($9), 27 Recipes for Buttery Chocolate Chips ($17), How to Make the Most Mouth-watering Cookies ($17), and How to Make Cookies So Soft, They Always Sag in Your fingers ($9). These five e-books total $71 and complement your e-book nicely.

You also negotiate marketing to all five authors' e-mail list and splitting the gross sales 50/50. You offer to do the sales copy and all purchases go through your shopping cart. They don't even have to lift a finger to make money. They send out a brief endorsement e-mail to their list with a link back to your webpage.

A week passes and you make 1,000 sales totaling $27,000. You pay your joint venture partners half gross and still have $13,500 in change. Not bad for a few hours work. This is selling the sizzle—when your special bonuses have a higher perceived value than the actual product for sale.

The other school of thought is selling the steak...

You sell your product or service on the merits of its value. This is where you show the perceived value of the product or service is so important to a certain niche market, they'd stand to gain or lose out if they don't buy now. This takes a little more finesse and persuasion, but much more personally rewarding.

Here's an example...

My mentor sent an e-mail to his database for a one-year coaching program. It included a monthly lesson, an assignment, and a critique. All done through e-mail.

His database is a targeted list of business owners who like, trust and respect their coach. And most, if not all, have been previous customers.

So I forked out $7,000 for the program. If I opted for financing, it would have cost just under $10,000. With about 26 scholars who enrolled, my mentor made close to $200,000. From thin air.

He sold the steak à la carte. There were no bonuses. No prizes for the best grade. Not even a guarantee. Or a certificate.

This is almost Nirvana. Zero overhead and no headaches. Just produce 12 lessons, 12 homework assignments, and critique 26 papers a month. On the side.

Back to the sizzle...

You've got 1,000 new customers in your database who bought your 101 Ways to Make Chocolate Chip Cookies. You want to sell them your new paperback: How to Market Your Cookies ($47). It contains tips, tools, advice and even a business plan for the serious cookie entrepreneur. There are sections on marketing to schools, fundraisers, mail order, and retail outlets. You've included a complimentary special report on running your own small business as a bonus for ordering your new book.

53 of the 1,000 purchase your paperback for a total of $2,491. Not bad, but certainly not the result you wanted since you ordered a minimum 5,000 books to qualify for the price break.

This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.

Not so with steak buyers...

Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.

Can the sizzle and the steak be combined?

I'm glad you asked. The answer is yes and one of the best ways is to bundle up bonuses from your product line with your offer. This way, you can reap higher profits. So get busy building your product line. And when you negotiate joint venture deals, you can now insist on higher margins for yourself because you have proven your products can make money for your JV partners.

Which method is better?

If done right, both are very effective. If you want to make a casual sale, then include as many bonuses as possible. But if long-term customers and lifetime income and reward are your goals, prepare to sizzle by selling the steak.

Warm Regards,

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