DotCom Secrets by Russell Brunson
Sit Down and Read
One Line Summary
All the technical secrets behind the greatest internet companies revealed
I’ve noticed that many people tend to be very naïve when it comes to entrepreneurship. Here is the mindset of most people of how business works:
Step 1) Inspiration strikes for a great product!
Step 2) Get funding
Step 3) Make product
Step 4) Advertise product
Step 5) Profit
While that’s generally the path you take, there is so much involved in running a business that I pity anyone who walks into starting a business with this mindset.
In DotCom Secrets, Russell Brunson really lays out the extreme technical details of running an online business. There is still a fortune to be made online…if you know how. DotCom Secrets should be every beginner’s playbook.
Why it’s Awesome
When it comes to success, I love reading personal development books like The Success Principles. They give you a tremendous macro view of the world.
But I’ve found that some people who read these books then make the mistake of never going micro. They think because they’re following their intuition that they don’t have to read a marketing book.
I love this book because DotCom Secrets gives you the serious micro view of an internet business. So without further ado, here are some of my favorite secrets:
The Value Ladder
How many products does your business sell? If you answered “one”, you’re already likely making a huge mistake.
Real money is never made on the initial sale. Any drug dealer could tell you that. It’s all about upselling. Upselling, that annoying thing Subway does when you’re trying to eat healthy and suddenly they’re asking you if you want chocolate chip cookies at the cash register. That’s upselling.
You bought X? Well maybe you’d also enjoy Y…
Yes, I just released my first real product through this blog entitled Vision Quest. But you can bet that Vision Quest is only the beginning. You can expect more products in the future. And that’s because I understand this concept of a Value Ladder.
When your business has a value ladder, you offer multiple products all the way from the very low end to the high end. Customers start buying at the low end and then are upsold to the high end products.
Why does this work? It’s simple psychology. Once we humans invest in something, we want a return on that investment and will often backwards rationalize further investment.
This is why it’s basic sales knowledge that it’s much easier to sell to a customer who has already bought something. What’s the job no one wants? COLD CALLING. Because cold calling sucks.
Actually, I love the cold approach. Well I love it the same way a bodybuilder might “love” waking up at 5 AM to do deadlifts. It’s tough as shit. You gotta have some thick skin.
But still, there’s no denying that warm leads are far superior in terms of conversion rate than cold leads.
The Attractive Character
Brunson recommends building your business around what he calls the attractive character. Who is the attractive character? It’s YOU.
Well, technically it’s the face of your brand. But I’m going to assume that’s you.
Very few people probably know that I took a screenwriting class in college. Different style of writing than I do here but I still loved it. In that class, I learned one thing: a good story is all about CHARACTERS.
There are no good stories without good characters. Likewise, as marketing has essentially become about story-telling, your brand needs a main character. It needs its Han Solo. It needs its Tyler Durden.
For Aurum Reviews, obviously I’m that character. And as good as I might like to believe the content I’m putting out is, the truth is that the stuff people like the best is when I just share my story.
And that makes sense. As humans, we crave relateability. We want to see people going through the same struggles we go through. We want to be inspired when they win. This is classic stuff and IT WORKS.
People will buy often just because they believe in the attractive character. We don’t want nameless, soulless marketing. This has been the critique of business since the beginning: business people are soulless.
There are as many ways to be the attractive character as there are Hollywood movie protagonists. Brunson shares some basics archtypes like the leader or the rebel. What I’m going to say is play to your strengths. Authenticity is 1000% more important here than fitting into a role.
Why is authenticity important? Because there’s more force behind it. It’s like your foot is completely on the gas and you’ve got no brake. Everything is in alignment.
So consider the attractive character. And if you’re not going to be the attractive character, find someone who will.
E-mail marketing is not what it used to be. I’m on so many e-mail lists it drives me insane. I can’t unsubscribe fast enough. And yet somehow it’s like they keep coming. It’s like the never ending flood of advertisements.
But, much like Jeff Walker, Brunson is still big on e-mail marketing. And it’s hard to argue with that.
You could argue it’s all about social media, but look at Twitter right now. If you don’t have an e-mail list or a list of subscribers you “own” as opposed to the social media company owning them, that’s an easy mistake.
Once someone buys from you, Brunson recommends sending what he calls Seinfeld E-mails, named after the famous show. These are e-mails that essentially do nothing but explain the attractive character’s life and then relate it back to your products.
It really doesn’t matter what is happening. Did some errands today? You can still write an Seinfeld E-mail about it. Reality TV is proof of this.
He also recommends writing these daily. That sounds like overkill, but remember that everything Brunson is teaching has been tested. For him, sending daily produces the best results.
Brunson wraps up with sharing with you sales funnels strategies and scripts. I don’t really want to get into these two much in this review, you’re better off just reading the book to get the scripts. It gets very technical.
Who Will Love It
-Anyone looking to many money on the internet
-Anyone looking for financial freedom
Why Does It Suck
I want to present the counter argument for the attractive character strategy outlined above. Because the truth is there are tons of brands that have succeeded without the attractive character.
The one major drawback from building your business around you as the attractive character is that you and your business are now dependent on each other.
If you’re the reason people are buying, what happens when suddenly you get sick? When happens when you retire? What happens when you actually want to sell the damn thing and make a profit?
Unless you can find a way to make your business run without you, you and that business are tied forever. You depend on it for income and it depends on you for cash flow.
Here at Aurum Reviews, I’m willing to take that gamble for two reasons: 1) You have to start somewhere and 2) I love doing this. I love being in the “dirt” as Gary Vaynerchuk would say.
So for me it’s worth it. However I strongly advise you just take what I say into consideration. Because there will be a time when you can’t or won’t want to do it. And if Mrs. Fields hasn’t found a way to systematize, bye-bye cookie shop.
Who Will Hate It
-People who don’t believe in business or materialism
-People who don’t understand how business really works
The Wrap Up
This is a brilliant little book, albeit basic. There’s little to no filler, just punchline after punchline of practical advice that you can take and start implementing RIGHT NOW. Clickbait or not, Brunson knows his stuff. And it comes through in every page.