The S.W.I.P.E Email (Friday August 26th, 2022)
(Swipe, Wisdom, Interesting, Picture, Editorial)
This is a fun email for Friday August 26th, 2022. Hope you like it 🙂
🎤 Listen to this email here:
Look at all this wine:
What's the difference in all of these?
When it comes to wine, there's very little product differentiation other than:
• Personal preference
• Bottle placement
• Brand name
• Brand story
It's an entire industry based off marketing and distribution.
While there are slight variations here and there, ultimately the product is very similar, and marketing a wine is all about.....marketing!
The definition of a "millionaire" is changing.
In 1913 a "millionaire" meant you had the equivalent of ~$30 million of today's purchasing power.
Being "a millionaire" meant being set for life. Now you can't buy a 2-bed apartment in a high cost of living city.
Look at what inflation does to the purchasing power of $1m:
Here's those stats in numbers (The USA started tracking inflation in 1913).
Here's the 2022 purchasing power of $1million dollars through the years:
• 1913: $29,926,869
• 1920: $14,813,800
• 1930: $17,741,078
• 1940: $21,162,571
• 1950: $12,293,610
• 1960: $10,009,324
• 1970: $7,635,979
• 1980: $3,595,583
• 1990: $2,266,840
• 2000: $1,720,534
• 2010: $1,358,715
• 2020: $1,144,758
• 2022: $1,000,000
So "inflation" steadily marches forward, that itself is not a huge problem so long as it remains in check (the goal is 2% inflation per year).
However lately that number has been WAY higher, and there's a risk of "hyper-inflation" where instead of decades of your dollars losing purchasing power, it happens in weeks or days.
For example in some other currencies that've experienced hyper-inflation, everyone in the country is technically a "millionaire" but it no longer means they are rich:
In Turkey $60,000 USD makes you a "millionaire."
In Argentina $8,000 USD makes you a "millionaire."
In Zimbabwe $3,000 USD makes you a "millionaire."
In Sudan $200 USD makes you a "millionaire."
In Venezuela $2 USD makes you a "millionaire."
If you own assets that move UP with inflation, you are somewhat protected from inflation.
Things that often go "up" as inflation marches on:
• Prices of homes (specifically land)
• Businesses that can raise prices
This is my personal "Protect from Inflation" kit:
- Hold stocks: GOOG, AMZN, AAPL
- Hold some crypto: BTC, ETH
- Own hard asset: House/Rental
- Own piece of several businesses
- Hold S&P 500 fund: VOO (auto-buy monthly)
- Hold China S&P 500 fund: MCHI (auto-buy monthly)
- Don't sell for 10+ years
Putting words out on the internet has:
- Provided 100% of my income.
- Connected me w/ all my best friends.
- Constant stream of new friends.
- Gives me feedback on thoughts.
- Amplifies my voice at scale.
- Gives me inbound sales.
- Gives me community.
When I first started posting online, there was this distinction between "online" vs "offline."
But now we don't "log off the internet" ever, and the internet is such a part of our lives that I no longer believe in online vs offline.
There's no "I went online for a restaurant review."
It's just a restaurant review.
There's no "we met online."
It's just meeting.
There's no "I took an online class.
It's just a class.
Online and Offline are already merged:
Speaking of merging online and offline, I hosted a "Twitter Party" yesterday to meet people I follow on Twitter IRL, and it went off great!
This may seem dumb, but several people commented it was really fun, so we had this idea to start the party off in the living room as normal...
....then move the party to "The VIP Room" (aka my office) 😂
We all took a field trip there...
...and for whatever reason this segment of the meetup was everyone's favorite!
Fun times meeting all these Twitter peeps IRL!
We asked people the other day "What do YOU think copywriting means?"
We got some fascinating answers!
Here's some good ones:
"Copywriting is the transference of ideas in the most succinct yet relatable way to your audience."
- Trevor R
"Copywriting is selling better online."
"Copywriting is learning how to hotwire your product into your customer’s heart strings."
"Copywriting is the art of persuading someone to to buy your product."
"Copywriting teaches you to catch peoples attention and convince them to buy your product."
"Copywriting is word money."
"Copywriting is learning how to hotwire your product/service into your ideal customer’s heart strings."
"Using words to persuade."
“Copywriting is an aspect of writing that is action-driven. It is the part of writing that is focused on influencing the reader to take a desired action.”
"Copywriting is closing a sale using the written word. A means to persuade, influence and engage clients to make a sale."
"Copywriting is a slippery slope where the goal of each sentence is for the person to read the next sentence."
"Copywriting is the art of persuading people using words."
"Copywriting is (a) understanding your customer and (b) showing them you understand in the most clear way possible."
The way I describe copywriting to people is:
You can see hundreds of more responses to the question here.
Hopefully you enjoyed these tid-bits!
Neville Medhora - CopywritingCourse.com | @NevMed