“Never start thinking you’re wonderful.”
This was the first bit of advice my mentor Drayton Bird gave me.
Even if you’re super-successful, when you believe your own B.S. you start believing you cannot fail. So you’re more likely to abandon the tried and true methods which made you a success in the first place.
Which brings me to investment extraordinaire Neil Woodford.
He was, in the words of Money Week, “One of the few British fund managers with something approaching a personal brand.”
And it was a brand built on steady, income-producing stock picks; big, sturdy companies that produce a decent return over time.
Until he set up his own fund…
Woodford’s “personal brand” attracted huge amounts of capital.
Only this time he invested in crazy, unproven tech stocks.
The fund performed badly.
The Emperor had no clothes.
Investors wanted their money back, but Woodford couldn’t sell the stocks fast enough – and the whole thing went kaput.
If only he’d stuck to what worked in the past, Woodford’s fund would probably be screaming ahead. But greed and vanity got in the way…forced him to throw his old rules out the window and chase more.
You see this in advertising too.
Creative people – who aren’t held accountable for sales results – have only their own self-image to draw on.
Like Woodford, they’ve fallen into the trap of believing they are wonderful. They strive to make ‘good ads’ – rather than ads which get ‘good sales’.
They’ve abandoned the simple principles which get results.
It’s why the marketing template available on this page can be so vital for your success.
Not only does it help you get on the right track…
…You can use it to help judge your marketing – whoever you put in charge. Just getting these important details down on paper can save you from a Neil Woodford style catastrophe.
And if you have any questions about your marketing, send me your report and let me know.
Unfortunately I am now fully-booked until the new year.
However, I’d be happy to answer any questions you have.
All the best,
Alex
