Part 2: The newsletter, generating revenue and the future

You also publish a spin-off newsletter, Sales Horror Stories. Who are your subscribers, and do you track demographics?
I don't track demographics since a basic rule to gathering subscribers is the less you require they offer, the more likely they'll signup. I do ask where they discovered us. This is very critical since I've found myself showing up in print publications in Australia, Hong Kong, the U.K. all other worldwide locations. That question serves as a no-cost data-gathering tool.

Why is your newsletter only monthly - do you have any plans to go weekly?
I'm seriously considering going weekly. My web consultant suggests it, in preparation for possible advertising revenue. I don't accept ads right now. But I am nervous about losing subscribers who might not want this too often. This brings up a problem on ezines that every publisher should be aware of. We are all subscribing to many (some dozens) of online newsletters. Don't send a 15 page publication out and expect it to get read. Short and sweet is best. I believe my popularity is in part due to the shortness of stories.

Have you ever considered a paid-subscription model?
It's tempting. If you look at some private publications out there in the print world, there are companies producing a simple print newsletter for 4,000 people in a niche and charging US$250 a year for it! One million dollars for a simple print publication. If I garnish some serious advertisers, I might move to print and consider charging.

Since the newsletter is free, how does your site generate revenue?
The site was initially structured as a lead generation tool for sales training organizations. I strongly believe that sales pros can't get better by reading books and listening to tapes or CDs. I receive referral fees for visitors that get help. In addition, the site will soon generate revenue from book and ebook sales. I'm also beginning to receive lots of speaking engagements as well.

Of course, money isn't everything. What are some of the other payoffs of online publishing?
I'm experiencing great demand as a speaker. I present a hilarious blend of stories and teaching. It's great fun. I'm becoming a bit famous for the uniqueness of my product. I expect this will payoff very big to my online readers and print readers when the book arrives.

So, you have a book coming out - tell us a bit about it.
"The Death of 20th Century Selling" is a revelation on how salespeople fail. We storyboarded the top 100 or so tales and found that there were four categories that these failures "fell" into. The book blends the stories with descriptions of each selling "character" and concludes with a solutions section, entitled "Resurrection", on how to fix them. I expect the book to be a big hit in the sales world (hey, 20 million potential buyers in the U.S. alone!). I also expect to spin off an audio book.

Finally, where do you see your site and newsletter in the next five years?
I'd like to see the stories in print publications across all industries and believe that I could reach 10 million monthly readers that way. Online, the potential is very similar. The site will end up being structured by industry, so there would be insurance, automotive, computer and other sections (30 plus) with their own stories.

Some of these trade organizations have expressed interest in me producing books of selling stories for their industry. So I'd have a market in producing books with a built in audience and a strategic selling partner to promote it. That would keep me busy for a long time.