The Hidden Secret of “Known Demand”
In the mid-1800s, A.T. Steward learned a valuable lesson that will help you live the writer’s life.
Here’s what happened …
As a young boy in Ireland, he saved up $1.50 and decided to try his hand at selling merchandise.
He spent $0.87 (half of his money) on buttons and string.
Then, he went door-to-door and tried to sell his goods.
A complete and total failure.
Instead of giving up, he said,
“I’ll find out what the housewives really want and sell that.”
He did some research and discovered a known demand.
Using the last of his money, he bought things that were really wanted. Of course, he had no difficulty at all in selling them for a profit.
He said about this experience … “I will never gamble again in business. I will first discover the demand of the market.”
Years later, his grandfather insisted that A.T. become a minister. He attended school for that purpose, until he realized he was not cut out for the “cloth.”
He decided to work with another kind of cloth … the kind women used to stay fashionably dressed.
A.T. moved to New York with some Irish-spun Belfast linens and laces (a known demand) and opened a shop on Broadway, A. T. Stewart & Co.
The rest is history.
A.T. built the largest merchant business in the world focusing on his strengths and a known demand.
Embedded in this little story is the secret to living the writer’s life.
Can you see it?
There are three major parts. These three parts make up “Step One” of my simple system to help you obtain time and money to enjoy the lifestyle of your dreams.
I call it: “Step One: Market”
What I mean by market is this … before you can become a successful copywriter, you must first know three things:
First … Your personal strengths.
A.T. focused on his abilities to sell, understand customers, and his connections with foreign fashion that were in demand.
Second … The known demand.
What do people secretly crave that they can’t get? A.T. discovered that American women wanted foreign fashions and goods at a reasonable price.
Third … The intersection between your strengths and the known demand.
A.T. had access to Belfast linens and laces and knew how to sell them.
Yes! But too many copywriters fail to identify their strengths and match them up with a profitable niche.
They flop around for years wondering where the clients are.
They’re selling buttons and string to a market that doesn’t care!
The solution, of course, is to pick a niche that has a high demand for copy, right?
True enough … but, there is something most copywriting and marketing gurus aren’t telling you …
Not everyone can write for every market.
Just like A.T. Stewart was not cut out for the ministry, so you might not be cut out for health or financial copy (or, you might be … ).
The point is this …
The beginning of all great copywriting careers is to know your personal strengths and then play to those strengths.
If you don’t start off discovering your strengths – then you might spend weeks, months, and years building up your business and chasing down a niche … only to discover that either you hate it, or the clients in that niche hate your work, or both!
So, how do you discover your strengths so you can pick a profitable niche and play to your strengths?
One of the fastest and most accurate ways to do this is a little exercise that I call, “Peer Perspective.”
Here’s how it works …
First: Make a list of 20-30 people that know you well. Can be family, friends, co-workers, whatever.
Second: Write up a simple email that says something like:
“Hello Bob! I’m working on a business project and wonder if you would do me a huge favor. If you can’t, I totally understand … but if you could, I’d really appreciate it.
The favor? Just reply back to this email and tell me what you think my top strengths are. I mean, what do you think I do exceptionally well?
That’s it. You can make it long or short, but the more specific the better.
If you could get it back to me in the next few days, I’d really appreciate it.
Third: Review the responses and look for patterns.
If you send out 20 emails like that, 10-15 people will reply back. Their answers will contain similarities.
Look for the patterns. These are major strengths of yours, and you should focus on using them to your advantage.
For example, if you have a strength in understanding people and inspiring them, you might consider the personal development or business opportunity niches.
Now that you have a solid foundation based on your strengths and a profitable niche, you need to move on to the next step.
The biggest challenge with marketing is …
The attention of your audience is the hardest thing to get and most profitable to have, right?
In the next step, I’ll show you the #1 secret for grabbing and holding the attention of both your prospects and their buyers.
Until then, I’d love to hear from you. Do you have insights on discovering your strengths and choosing a profitable niche? Tell us about it here.
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