Collaborative Post
Minimum Viable: Daily startup ideas, trends, and motivation for the aspiring entrepreneur.
Wise Words: “Every no gets you closer to a yes. It’s a numbers game… It’s just a question of making the calls”
-Mark Cuban on cold calling
What is a cold DM?
A Cold DM is reaching out through a direct message (DM) to influencers or potential clients that are cold and you don’t know.
You cold DM people to grow connections and a network as well as to talk to potential clients.
They are the equivalent of calling or networking but with people you don’t know and through an online message.
Mastering Cold DMs (In 5 Steps)
Step 1: Intent-Based Research
What is your intent for messaging this person? Are you trying to get a sale? To build a relationship and collaborate?
Understand the reason why you are messaging this person. Then research this person and look for reasons why they would respond to you.
What do they like?
What have they previously posted about?
What are some problems they are facing?
Then, follow and interact with their posts before you DM. By interacting with their posts and later DMing them, you are not a complete stranger and it shows you are interested in their business.
Step 2: Crafting The Perfect Opening Line
This is the most important part of your message. You need to have a personal and short opening line that hooks them.
Get to your offer and why your business is important to them.
Curated Example:
Step 3: A Simple and Compelling Body
Keep your body short.
After you’ve given them the reason for why they should care, give them one of two major details and move on.
A great way to make your message credible is to name other people/businesses you have worked with. This works especially well when you name close friends or competitors they know.
Step 4: Specific CTA
Have a short and specific call-to-action at the end of your message.
Your CTA should be an obvious next step and be easy to say yes to.
CTA for a collaboration: Are you interested in collaborating on a post?
CTA for product/service: If you’re looking for [specific need], I’d love to send over some samples and discuss this further
Step 5: Follow Up
Wait 48-72 hours then follow up. After 1-2 weeks add follow-up one last time. Any more than this may seem like spamming.
Conciseness is key but you should also try to add scarcity or urgency and show what they are missing out if they don’t take action soon.
Example Follow-up:
Hi [first name]
Just wanted to ask you again if you're interested in solving [pain point 1] or [another pain point 2].
We only have [4 spots left] and if you want [benefit 1] and [benefit 2] schedule a call in [time period] before we fill up.
Full Curated Example:
From: creator economy
What this message did well:
A solid opener using authority figure (kaz from shopify) to show credibility
Personalized message referencing a piece of content (article on talent stack)
A short and clear message
Clear CTA (open to do an interview)
What this message could have done better:
For the follow-up: There should have been more value instead of saying follow up.
For the body: There could have been more on what’s in it for them and why they should do an interview (get more viewers to their articles)
Recourse Spotlight
Minimum Viable: Daily startup ideas, trends, and motivation for the aspiring entrepreneur.
Book Recommendation: Shoe Dog by Phil Knight. A memoir that reads like fiction on the early days of Nike. Recommended for people interested in entrepreneurship and eager to learn more about life as an entrepreneur. Not too much applicable business advice. 8.5/10
Until next Saturday,
Warren
