🦈 Shark Tank ROI

Happy Monday! Are we headed for a recession? Are we in one already? Experts can’t seem to agree. But a flurry of new economic data this week, including earnings reports from Meta, Alphabet, and Microsoft, could help paint a clearer picture.

Mentioned in today’s newsletter: Facebook, TikTok, Snap, Mark Cuban, and Shark Tank. Plus 3 magic words to make your clients trust you, 20 tax write offs for freelancers, and the best place to eavesdrop on your customers.

Estimated reading time: 2 minutes and 36 seconds

Making the Rounds

  • Facebook launches Home feed on iOS and Android to mirror TikTok. The new feed features Reels, Stories, and other algorithmically-suggested content. Updates from friends and groups you’re in are now in a separate Feeds tab.
  • Snap stock tanks after bad quarterly earnings report. The company reported a $422 million net loss for the quarter, citing an uncertain economy and more competition for ad dollars (along with our best friend iOS 14) and refused to make any financial projections for Q3. The rest of industry reports this week, and it could be ugly.
  • Mark Cuban takes an L on Shark Tank investments. The billionaire recently revealed he’s down overall on the ~$20 million he’s invested through the show. But they make venture capital look so easy! Maybe we’d better stick to gambling on altcoins instead.

Working With Clients

3 Magic Words to Make Clients Trust You

If a client asks a question, you should always have the answer… right?

Wrong.

In fact, trying to weigh in on something when you’re out of depth is the fastest way to make yourself look silly.

So, what’s the answer?

Don’t be afraid to say “I don’t know.”

Being open about what you don’t know shows honesty and will give you credibility.

Plus it creates an opportunity for you to find the answer and demonstrate your resourcefulness to the client.

A win-win for both of you 💪

Working For Yourself

That’s a Write Off

As a freelancer, you may not have a pension or 401k…

But you do get some tax advantages from being able to write stuff off.

And if you’re looking to save as much as possible on your tax bill next year…

Our friends at Upwork have put together an awesome list of 20 things you can and should be expensing in your freelance business.

Click here to check it out:

[READ]: The 20 Most Important U.S. Tax Benefits and Deductions for Freelancers

From The Copywriting Gig

I Ain’t Been Dropping No Eaves Sir

Persuasive sales copy starts with market research.

Understanding what problems your customers are having, what underlying beliefs they have about their problems, and what specific words and phrases they use to describe them is essential to writing copy that converts.

But traditional forums are basically extinct.

So, what’s the best place to “eavesdrop” on your customers?

Reddit.

With over 430 million monthly active users and niche-specific subreddits for basically any topic you can imagine.

It’s a treasure trove of insights into the psychology of your target market.

Aside from any niche-specific subreddits, be sure to check out:

Pro tip: filter by Top and All Time to see discussions that have resonated the most.

Gig Alert

Looking for clients? These jobs were posted on Upwork in the last 24 hours:

Quote of the Day

“Don’t dwell on what went wrong. Instead, focus on what to do next. Spend your energies on moving forward toward finding the answer.”

— Denis Waitley