Previously our discussion started with a review of Ryan Holiday’s book Perennial Seller. We covered most of the book and I provided enough information for you decide if purchasing the book was worth your hard earned money.
We skipped lightly over the marketing section of the book for a reason. I wanted to share an observation from the book I’ve been making to my clients for years and to encourage you to steal my work. You read that right. Before this post is over I’ll have you feeling good about plagiarizing me into infinity and beyond.
In Perennial Seller Holiday covers marketing well. One area stuck out for me however. Holiday states almost everyone overestimates the value of traditional PR. Not only is it expensive, it doesn’t work. I agree.
For years I have advised business owners about advertising opportunities that come their way. It is rare for these offers to have any real value and in many cases drive zero clients your way while emptying your wallet.
It is so bad that I blanket state all promotions that walk in your door are worthless while promotional idea you personally have enjoy a fighting chance of generating at least a modest profit. The stuff walking in the door comes via a salesperson. Of course they have the best deal ever. I have been warned numerous times over the last three decades I would soon be out of business if I didn’t use their offer. After all these years I am starting to hope they are right. Man’s gotta retire sometime.
What has worked? Well, a lot of my promotional ideas have worked well while costing nothing or nearly so. I walked flyers I printed in my office in the early years of my firm. Gained a large number of individual tax returns in the process and became profitable too.