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Mentioned in this edition: Apple, Meta, TikTok, Elon Musk, and MrBeast. Plus the most important factor in client retention, 8 ways to bulletproof your personal finances, and the simplest way to map out new funnels.
Read time: 3 minutes and 13 seconds
Making the Rounds
- Apple carves out a slice of Meta’s ad revenue. The iPhone maker recently updated App Store terms to require an in-app purchase for boosted posts on platforms like TikTok, Facebook, and Instagram.There’s a reason they say things can always get worse. On a related note…
- Elon says Apple’s 30% cut of in-app purchases is “definitely not ok.” Twitter’s soon-to-be new owner recently tweeted that “Apple’s store is like having a 30% tax on the Internet.” Assuming his deal to buy Twitter closes this Friday (which it has to, unless he wants to go to court), Meta may soon have a new ally in the fight against Apple’s business practices.
- MrBeast is looking to become a billionaire. The popular YouTuber is aiming to raise $150M in venture capital (at a valuation of $1.5 billion) to fund expansions into restaurants, consumer products, and merch. Fun fact: his new snack business called Feastables generated $10M in revenue in just its first few months.
Working With Clients
Nail This One Thing and You’ll Never Struggle to Retain Clients
Client success can be boiled down to one thing:
Learning how to manage expectations.
It’s the bedrock that long-lasting relationships are built on.
Here are some tips to help you to do it better:
- Be transparent about the process
- Offer multiple options or strategies
- Set deadlines with wiggle room
- Avoid getting carried away with too much excitement or enthusiasm
And if a client is eager to pursue their own strategy instead of the one you’ve suggested…
Make the potential risks clear.
Explain that it’s your job as the expert to speak up.
Then establish clear criteria to determine whether the strategy is successful or not.
If it pans out, they’ll appreciate you pushing forward despite disagreeing.
And if it doesn’t, they’ll respect your judgment for being right.
Working For Yourself
8 Ways to Bulletproof Your Finances In Case of a Recession
The U.S. has had two straight quarters of contracting GDP.
That’s one definition for a recession.
Today’s report on GDP for Q3 may buck that trend and show a modest amount of rebound growth.
So there’s still debate about whether we’re already IN a recession…
But experts agree the worst is yet to come.
2023 is shaping up to be a rough year economically.
And as a freelancer who may not have a steady paycheck to count on like everyone else working a 9 to 5…
It’s important to be proactive about your personal finances.
Check out this article from our friends at Business Insider to discover 8 ways to bulletproof your finances before 2023:
Tools We Love
It’s Not Exactly Rocket Science (But it Sure Does Feel Like It Sometimes)
Even if you’re not a graphic designer or funnel builder…
If you work in marketing, chances are you’ll need to map out funnels for clients from time to time.
And unless your client’s a seasoned direct response marketer…
It’s easy to get bogged down trying to explain it to them.
Good news is, there are lots of tools out there to help you do that.
Bad news is, most of them suck.
They’re clunky, laggy, and not intuitive at all.
That’s why we love Whimsical. It’s fast, free, and easy to use.
So whether you’re using it as a part of a proposal for a prospect…
On a kickoff call with a new client…
Or to collaborate with a contractor to make sure they build the next funnel properly…
Whimsical can help you get it done.
Looking for clients? These freelance jobs were posted on Upwork in the last 24 hours:
Other Reads You’ll Enjoy:
Good newsletters are hard to find. Here are a few of our favorites:
- 1440 Media: Daily news designed to be the fastest way to an impartial point-of-view.
- Blinkist: Powerful ideas in 15 minutes.
- Smartr Daily: The Web’s most valuable articles on productivity, wisdom, and ‘smartr’ living.
Quote of the Day
“We all make choices, but in the end, our choices make us.”
— Ken Levine