For Freelancers, One Simple, Powerful Question

"What can I help you with RIGHT NOW?"

"Is there a project that you're working on that I can help you complete? Something to write, proofread, edit, design (etc)?"

Instead of waiting for an assignment, a creative brief, a return phone call, email or whatever after your meeting, ask and you'll increase your chances of going home with a gig immediately. No waiting!

Avoid the Horrors of E-Mail Marketing

E-Mail Marketing: The Complete Guide to Creating Successful Campaigns. Herschell Gordon Lewis. AMACOM. 304 pages. $24.95.

Let's check our e-mail. Hmm. . . In addition to a few messages from clients, colleagues, managers and readers, there's a solicitation from an heir of an overthrown African politician offering a "business opportunity" (but he wants my bank account number to get started); a sale on toner cartridges from a company I've never heard of; several links to pornographic websites; an offer to purchase a condominium in Calgary; a number of cryptic messages with attached files (removed by my company's virus prevention software); poetry from a local writer; a newsletter; a few more commercial solicitations (some of which pretend to be responses to inquiries and requests I've never made), and a bunch of other things that were routed directly to the trash, since they contain certain keywords that flag them for that purpose by my e-mail program.

So what's the deal with the unsolicited commercial e-mail — fondly known as "spam"?

You and I may consider it spam, but e-mail as a marketing tool is a powerful new medium. Herschell Gordon Lewis is one of its biggest advocates, and that makes sense. Lewis, a Fort Lauderdale-based advertising veteran, has long been a creative guru in the direct marketing arena. To some, it's mere junk mail, but Lewis cast his sharp eye toward the creativity and effectiveness of the work, mostly stuff that appeared in his own mail box.

His long running column in a trade publication wittily skewered a number of ill-advised campaigns and sales pieces — and complimented a few that worked, in his opinion. In this new book, he does the same with the sales pitches and special offers sent to the in-box of his e-maile account.

If you're an average recipient of e-mail who's annoyed by the endless amount of unsolicited commercial messages, this is not the book for you. No way, because Lewis assumes that there is such a thing as good e-mail of the unsolicited commercial variety. And really, if you think of it as a digital cousin of the material that shows up in your home mailbox every day, this is not a difficult leap to make.

But if your home is assaulted with dozens of daily come-ons for hot farm girls, Viagra and other unwelcome products and services, chances are you'd have negative feelings attached to these solicitations. Lewis apparently believes that since e-mail is, after all, in its infancy, the bad things will fade away as the medium matures. And, if these offers cease being effective (the marketing, not the products!), senders will stop flooding every e-mail address with it. The problem, of course, is that conducting e-mail marketing campaigns is cheaper than any other similar effort, so the bottom-feeders will probably be around forever.

But that's not our problem, nor is it Lewis', other than factoring it in to the effectiveness of e-mail marketing as a whole. He's not an advocate of spam; he just thinks it is, for the most part, lame.

Instead, he's a proponent of sending messages to prospects who are disposed toward particular products and services, have opted to receive e-mail, or are on lists supplied by companies gathering such information to sell them to companies in the same manner as traditional (postal) mailing lists.

So Lewis devotes most of his book to discussing his general creative principles and showing how they apply to this unique medium, illustrated with plenty of real examples from the things he has received. If you are so inclined to conduct an e-mail marketing campaign, this book is invaluable. Writing may be deceptively simple, but crafting a message in a powerful and persuasive manner is extremely difficult. Herschell Gordon Lewis is a Jedi master of mail marketing -- snail or electronic -- so heeding his lessons all but guarantees success.

But please, don't give into the dark — and spammy — side of The Force.

originally published in The Miami Herald

"Smart retirement" is not an oxymoron

Author Dan Solin explains how to get the most for your money for retirement.

 
The Smartest Retirement Book You'll Ever Read. Daniel R. Solin. Penguin Group. 272 pages.

by Richard Pachter

I currently have no plans to retire. As long as I still have most of my marbles, I'll just keep working, though I may eventually be forced to stop. This is highly unlikely (yeah right), but to be prudent I ought to prepare for the possibility that my earning days could end. I'll need to look closely at what remains of my 401(k) and other savings so that the funds will last at least as long as I do. Reading this book is smart.

Dan Solin's previous entries in this series, The Smartest Investment Book You'll Ever Read and The Smartest 401(k) Book You'll Ever Read, were clever, breezy guides to navigating through the financial morass without getting hurt. Really, the info contained therein would undoubtedly be sufficient for anyone seeking to manage their finances through post-employment life. Still, the publishing business being what it is, Solin was undoubtedly encouraged to continue. And that's fine. This new book gets into the basics of investment, stocks and bonds in context with the present economic scene, so reading the earlier volumes doesn't mean that you won't get anything out of this one.

BEYOND SAVING

In fact, in addition to advice on retirement accounts, Solin casts his wise eye and sharp pen on other important subjects like reverse mortgages, age of social security distribution, prenuptial agreements for seniors, options and implications of delaying retirement, and the locally ubiquitous phenomenon of "senior seminars'' involving a ``free'' meal at a ritzy restaurant accompanied by a steaming side dish of potentially costly advice.

The best thing that Solin brings to the party is his shrewd and skeptical approach to the art and science of investing. Have an account with a brokerage? Close it, he instructs. Those guys are just trying to sell you stuff that you may or may not need in order to generate fees for themselves, not returns for you. And be sure to have a will that reflects your current wishes so your heirs, not the state, get whatever is left of your estate. You may not agree with everything Solin writes (especially if you're a professional whose livelihood depends on fees), but there's no question that his focus is on what's best for individuals, not institutions.

USEFUL TOOLS

Throughout, Solin writes clearly with style and humor but stays on topic and doesn't bloviate or pontificate excessively. He includes a number of charts and other tools to figure out what to do with your money so it grows into the amount you will need to live on for the rest of your days. He also includes a pretty clever bibliography that painlessly presents his sources and offers options for further reading and investigation.

The only thing about this booked that bugged me was the brevity of each chapter -- some about a page and a half. Seemed to me that in most cases, several could have been neatly combined. This may seem like nitpicking, but the narrative would have flowed a bit better and maybe a couple of trees could have been spared in the process.

Originally published 8/24/09 in The Miami Herald

Two books outline preparation for retirement

Two authors examine the preparations that must be made before one retires. Or not.

BY RICHARD PACHTER

Retire? For some it's not a viable option. For others, it's a possibility, but their financial well-being is the prime determinant of the timing. Two new books examine retirement from the perspective of the critical issue of investing self-directed retirement funds and the option of pursuing a different path that would offer an alternative to total withdrawal from the workforce.

 
The Smartest 401(K) Book You'll Ever Read. Daniel Solin. Perigee. 240 pages.

For poor slobs like me, 401(k) and 403(b) plans need to work very hard. Though a friend recently joked that she thinks that she can probably afford to retire in the year 2525, there's a chance that circumstances may prove otherwise. Another buddy told me that he has three retirement funds sitting with three ex-employers. Nice. Both of these comedians ought to pick up this useful new book by Daniel Solin, pronto!

I reviewed his previous tome, The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals when it came out about a year and a half ago, and this one is a worthy successor. Instead of going on to other subjects or bigger things, Solin focuses on retirement savings plans. It's a fertile topic and his advice seems sensible enough, though it's touted on the jacket as being ''controversial'' and ''challenge(ing) some basic assumptions.'' Well, maybe I'm missing something, but Solin's admonitions to keep fees and expenses low, use index funds and diversify seem pretty solid.

Solin also isn't afraid to be specific, which is very nice, too, so look for some very sharp criticism of several funds (including TIAA-CREF) and investment instruments such as annuities. He provides a few model portfolios, rails against professional investment advisors and politicians, and suggests ways to augment retirement plans with additional investments. This book also provides several work sheets and questionnaires, making matters a bit easier, so one's excuses for inaction becomes a bit weaker.

If you're considering reading this book, I'd suggest doing so quickly, as things change, but much of what Solin writes is very solid and useful. If you haven't taken a recent look at what your own retirement investments are doing and -- perhaps even more important-- how they are put together, reading Solin's smart little book might provide the impetus for action.


Retire Retirement: Career Strategies for the Boomer Generation. Tamara Erickson. Harvard Business Press. 192 pages.

Erickson's premise is similar to my friend's who plans to work forever; those reaching the traditional age of retirement need necessarily not do so. The author proposes ways to adjust one's compensation and expenses to accommodate this. She also offers insights into strategies and options, such as location, transportation and lifestyle choices. Sure, they're all related (if not defined) by economic factors, but Erickson puts them all into a larger context, which is very useful, too.

Though primarily aimed at boomers, I suspect that much of Erickson's advice can be adapted to others, too, as the ongoing changes in the economy and our culture continue to alter the nature of work and the relationship between employers and employees.

Originally published 6/23/08 in The Miami Herald

Three books offer fundamentals of investing

Three books on the fundamentals of investing offer advice and wisdom from those experienced in the art of finance.

BY RICHARD PACHTER

Aside from professional traders, speculators and hobbyists, I think most people invest only when they have to. But for many of us with disappearing or nonexistent pensions, or ''self-directed'' retirement accounts, it has been necessary to take a more active role in saving and allocating funds to either supplement our current earnings or help us get through the days when we will be unable (or unwilling) to work.

Here are three books that offer general investment advice.


The Best Investment Advice I Ever Received: Priceless Wisdom from Warren Buffett, Jim Cramer, Suze Orman, Steve Forbes and Dozens of Other Top Financial Experts. Liz Claman. Warner Books. 240 pages.

I must admit that I rarely watch CNBC, which the late Neil Rogers called ''The Gambling Channel.'' That wacky, noisy, wildly gesticulating Cramer fellow seems to be on the tube most times I cruise by, but without Jerry, George or Elaine, he's just not that entertaining. Author Liz Claman is a news anchor on that channel, but since I don't recall seeing her there, it's probably easier to judge this book on its content rather than on anything else.

That said, it's pretty good. The contributors are either corporate executives or financial experts and managers. She might have had a bigger seller if she'd solicited input from Dancing with the Stars-type celebrities, but she opted instead to provide something of substance, which is commendable. Oh, she's got a few ringers in here, like oddly coiffed TV host Donald Trump and the aforementioned Crazy Cramer, but she also has AutoNation's Mike Jackson, Warren Buffett, Suze Orman, John C. Bogle, Alexandra Lebenthal and others who know what the heck they're talking about. You may not instantly become a smarter investor after reading this book, but you will certainly benefit from the bits and pieces of experience and knowledge offered in the aggregate.


 
The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals. Daniel R. Solin. Penguin. 179 pages.

I really like Andrew Tobias' book of a similar title, The Only Investment Guide You'll Ever Need, which takes a sober and comprehensive approach to the subject. Tobias updates it regularly, too, so it's usually as timely as it is timeless. You can also go to his very useful website: www.andrewtobiascom/ -- which is another way to share his wealth of information.

Solin's book is more of a how-to investing book, covering stocks and bonds and such. His nuts and bolts approach to the subject is quite good, especially for those of us who have to manage our own 401(k) plans, savings and investments but have little enthusiasm and inborn abilities to do so. It's tightly written, always on-point and not weighed down with anecdotes and aphorisms, and could be just the instruction book that you were looking for, but never received with that thick pension package from your company's HR department.


The Little Book of Value Investing. Christopher H. Browne. Wiley, John & Son. 180 pages.

I quite liked Browne's The Little Book that Beats the Market, and this one is a worthy sequel, as he provides more information and support for his notion that investing in good, profitable companies can be more lucrative than going for the short money and the quick scores.

There's a bit more fluff here, but Browne is an engaging and self-effacing writer, so it's not too painful and never boring. If you read his previous little book, this one is a worthy and useful companion.

Originally published 11/27/06 in The Miami Herald

Guest Review: Bob Lefsetz on Derek Sivers' "Anything You Want"

The great Bob Lefsetz graciously alowed us to repost his review. For more Lefsetz, please visit his blog, here. To subscribe to the Lefsetz Letter by e-mail, click here.


Anything You Want. Derek Sivers. Domino Project. 88 pages.

This book is so good, so chock full of nuggets, that I had to stop reading it and e-mail you, even though Derek says it will only take an hour to finish.

Derek is you. An outsider. Who’s not trying to be an insider, just looking to find a way to make his life work.

In case you don’t know, Derek started CD Baby. And sold it ten years later for $22 million.

Minus startup costs…

THERE WERE NO STARTUP COSTS!  CD BABY WAS STARTED BY ACCIDENT! IT WAS PROFITABLE FROM DAY ONE!

You’re gonna like this book because it’s deals with something you’re familiar with, the music business. It’s not like buying a business book written by a corporate kingpin or an entrepreneur with a personality brighter than a 100-watt bulb who could sell ice to Inuits.  This is a musician, telling his story.

And his story is so different from the one being told by everybody else.

First and foremost, he made money.

And he did it by himself.  His way.

Let’s start with a few lessons…

1. "Start Now. No funding needed

Watch out when anyone (including you) says he wants to do something big, but can’t until he raises money.

It usually means the person is more in love with the idea of being big big big than with actually doing something useful. For an idea to get big big big, it has to be useful. And being useful doesn’t need funding."

In other words, START TODAY! NO WAITING NECESSARY!

If you’ve got a good idea.

Every day I get e-mail from people waiting to start, getting their ducks in order, bitching that they can’t get funded. All you’ve got to do is begin.


2. "Success comes from persistently improving and inventing, not from persistently doing what’s not working.

We all have lots of ideas, creations, and projects.  When you present one to the world, and it’s not a hit, don’t keep pushing it as-is. Instead get back to improving and inventing."

If no one reacts to your music, write new tunes.  If you still don’t get traction, change styles.

People hate to hear this. BUT WHAT ABOUT MY INVESTMENT!

You never forget what you’ve learned. Yes, read "What Color Is Your Parachute?", you’re developing transferable skills.  Don’t be married to failure. This doesn’t only apply to the music business. If you can’t make it as a lawyer or a doctor…change course!  Doesn’t matter if someone else is successful, they’re not you.


3. "A business plan should never take more than a few hours of work. Hopefully no more than a few minutes. The best plans start simple. A quick glance and common sense should tell you if the numbers will work. The rest are details."

You can do the business plan in your head.  It should be just that simple. If you’re paying an MBA to write it, you’re just justifying the price of his education. As for impressing investors, Derek didn’t take any money. He built upon his success. If you’ve got no success, stop.


4. "Any time you think you know what your new business will be doing, remember this quote from Steve Blank: No plan survives first contact with customers."

Voila!

You’ve got no idea what’s gonna happen until you open your store, until the audience hears the first note. Turns out people like a different track than you do. Turns out that little thing you do that embarrasses you audiences love. Maybe your instrumental passage is the highlight of the show. Or vice versa, maybe it’s when you sing a cappella. You won’t know until you try.

Last night Jim e-mailed me to ask if I too wouldn’t take the $1.3 million paid to Nathan Hubbard. If they offered me that gig.

They’re never gonna offer me that gig. I’m not the right person. I don’t play well with others. You’ve got to kiss a lot of ass to succeed in the corporation. You’ve got to hold your tongue when the President acts like an idiot. It’s about being a member of the team, and you’re not the coach, you’re not even the star player.

I don’t work that way.  I’m in an endless pursuit of the truth. I can’t suffer incompetency. Even worse, I can’t handle when people don’t work. I’m paying you, PAY ATTENTION!

But if you run your own business…

I know Derek Sivers. He’s not like the people at Live Nation.  He confided personal information to me right off the bat, unafraid I would use it against him, that I would hurt his career by revealing it to his superiors. When you run your own operation, you can be free!

And Derek is nice. But he’s not Steve Jobs. He’s not so charismatic that you’d follow him anywhere, he’s not a super-salesman. He’s a musician who thinks. Who is willing to get his hands dirty. Who will try something new and make mistakes. We all hate making mistakes, but when we own the company we’re not worried about retribution, we’re not worried about losing our jobs. And we learn from our mistakes.

5. "Five years after I started CD Baby, when it was a big success, the media said I had revolutionized the music business.

But ‘revolution’ is a term that people use only when you’re successful. Before that, you’re just a quirky person who does things differently."

And there’s no room for the quirky person who does it differently at the corporation. They call that person an artist. Maybe that’s why Derek could be so successful, at his heart he’s an artist, willing to take his own path, not susceptible to corporate reviews and not beholden to the HR department.

AND FINALLY:

6. "Business is not about money. It’s about making dreams come true for others and for yourself.

Making a company is a great way to improve the world while improving yourself."

That ain’t Wall Street. That ain’t Pandora or LinkedIn.

Do you know how boring it is to work for Goldman Sachs? How unfulfilling? Working with numbers just so you can make enough coin to vacation in a first class way, buy tickets to the shows of people you wish you could be if you could only take a risk?

Life isn’t about money. It’s about personal fulfillment.

But you can’t do it without money. And Derek Sivers acknowledges this.

Just like I could never be Nathan Hubbard, I could never be those people writing business books. Which is why I’ve completely given up on self-help tomes.  They’re not me. Yeah, that guy could become rich, BUT ME?

But reading Sivers’s book I feel like I’m listening to a soul brother. It gives me hope.

Read it. It’ll inspire you too.

Anything You Want

I recently read "Anything You Want" by Derek Sivers, the founder of CD Baby.

Terrific!

Short but superb entrepreneurial memoir.

Not everything he writes will apply to you, nor will you entirely agree with his approach, but it's an excellent catalyst for thought and  — hopefully — action.