Claude Hopkins was one of the greatest copywriters of the 20th Century. He documented his development as a copywriter and the advertising principles he discovered in two books: My Life in Advertising and Scientific Advertising.
In Chapter 18 of My Life in Advertising, Hopkins reveals what he calls his “great mistake.” And what was that mistake?
I will tell you.
After Hopkins’ initial success selling Bissell carpet sweepers, the president of the company, Mr. Bissell himself, invited Hopkins in for a heart-to-heart talk. Believe it or not, Mr. Bissell advised Hopkins to leave the company and venture out on his own. In fact, Mr. Bissell went so far as to say…
You are too good a man to work for me. [...] I am selfish enough to want you to stay here. If you do, your salary will be much increased next year. But I am fair enough to advise you not to stay. Don’t let someone else glean the chief profits from your hard work and your talent.
Imagine if you worked for a boss so honest — so interested in your long-term success — that he advised you to leave the company and start your own venture.
I can imagine that rarely, if ever, happens.
Anyway, long story short, Hopkins stayed. He writes:
My Scotch conservatism led me to stay. It was my great mistake. Soon after that I married, and any venture of my own became increasingly difficult. Thus I tied myself to a lifetime of service as an employee.
There are millions of Americans who have made the same “great mistake” as Claude Hopkins. It is the mistake of succumbing to fear and choosing security over freedom.
Even though Hopkins was entirely capable of starting and growing a business on his own, he lacked confidence in himself; he feared he would fail. And so he worked as an employee for 35 years before he finally cut the umbilical cord.
Soon after he made the leap to being self-employed, his income was magnitudes larger than it ever was when he was an in-house copywriter. In his own words:
One of my first ventures was in Pepsodent tooth paste. I bought a share in that, for which I paid $13,000. It paid me some $200,000 in dividends, then I sold the stock for $500,000.
There are two things that make this extraordinary.
First of all, Hopkins made about $100,000 a year as a copywriter. In this first venture of his own, he made at least $700,000 — seven times what he normally made in a year.
Secondly, Hopkins published this story in 1927, which means he earned this money before 1927. Seven hundred thousand dollars is a lot of money today; it was a fortune back then.
And it was all because he finally had the chutzpah to set out on his own.
Hopkins concludes the story of his “great mistake” with this:
So that is my future. Instead of confining myself to building businesses for others on a temporary commission, I have started for myself the enterprises which seem to promise profit. If even one turns out as scores have turned out under my direction, it will win me more than I ever won from writing.
While being a business owner isn’t for everybody, it’s certainly worth considering if you’re already growing businesses for other people. And Hopkins story is instructive to anybody who’s ever been employed (or self-employed, for that matter).
-Ryan M. Healy
P.S. If you’re interested in reading the whole chapter, just flip to Chapter 18 in My Life in Advertising.
Similar Posts:
- The 3 Stages of a Copywriter’s Life
- Forget Plan B!
- The Easiest Way to Grow a Business
- Does the World Really Need Another Copywriting Book?
- ‘Tis the Season to Tell Lies?
About Ryan M. Healy
Ryan Healy is a direct response copywriter. Since 2002, he has worked with scores of clients, including BoostCTR, Alex Mandossian, Terry Dean, and Pulte Homes. He writes a popular blog about copywriting, advertising, and business growth, has been featured in publications like Feed Front magazine, and is a regular contributor to WordStream.com, BoostCTR.com, and MarketingForSuccess.com.
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{ 20 comments }
Ryan that’s a great story, thanks for sharing.
I wonder how many other talented copywriters out there are still slaving for wages when they could be keeping the whole lot?
Very inspirational post though, reminds me that I need to dig out my copy of MLIA.
Anyway, must go – got some shares in pepsodent to buy lol
David Raybould
Ryan that’s a great story, thanks for sharing.
I wonder how many other talented copywriters out there are still slaving for wages when they could be keeping the whole lot?
Very inspirational post though, reminds me that I need to dig out my copy of MLIA.
Anyway, must go – got some shares in pepsodent to buy lol
David Raybould
Hi Ryan,
Wow! Talk about uncanny timing for your post.
I was recently contacted by a direct marketing company here in Maine, offering me a job as a direct response copywriter, for about $40,000 or so a year.
Sure, I thought about it, and it took some time to weigh the pros and cons.
Working for someone else… and getting a steady paycheck.
Or doing my own freelance gig and spending time with my wife and 3-year old. And the potential to make a lot more money.
So the choice became easy. And the funny thing is, when I called them to decline the position this week, I landed 2 copywriting gigs for $5000.
So I do believe in sticking with your gut feeling and then working hard to make things happen.
Hi Ryan,
Wow! Talk about uncanny timing for your post.
I was recently contacted by a direct marketing company here in Maine, offering me a job as a direct response copywriter, for about $40,000 or so a year.
Sure, I thought about it, and it took some time to weigh the pros and cons.
Working for someone else… and getting a steady paycheck.
Or doing my own freelance gig and spending time with my wife and 3-year old. And the potential to make a lot more money.
So the choice became easy. And the funny thing is, when I called them to decline the position this week, I landed 2 copywriting gigs for $5000.
So I do believe in sticking with your gut feeling and then working hard to make things happen.
@Shawn – God guides my fingers. ;-)
That’s cool that you were able to weigh the pros and cons and stick with your freelance career. I think it will pay off for you, especially over the long-term.
Good for you, Shawn.
Ryan
@Shawn – God guides my fingers. ;-)
That’s cool that you were able to weigh the pros and cons and stick with your freelance career. I think it will pay off for you, especially over the long-term.
Good for you, Shawn.
Ryan
You have touched on a key point of my career. I have been (was) in hi-tech for 25 years, the last 15 years in B2B sales. I made very good money. Every time I would get serious about going out on my own a good sales offer would come along and I would take the job. In many ways I was emotionally lazy. I know sales well and have made 6 figure income. I would earn my money with out doubt. But no matter how many hours I put in, it was still easier than branching out on my own.
Well that has changed. Still not sure just what all my little company will do, but so far so good. Even if I never make the same money, I will be the better for it.
As usual, great column Ryan.
John Deck
Direct Market Results
You have touched on a key point of my career. I have been (was) in hi-tech for 25 years, the last 15 years in B2B sales. I made very good money. Every time I would get serious about going out on my own a good sales offer would come along and I would take the job. In many ways I was emotionally lazy. I know sales well and have made 6 figure income. I would earn my money with out doubt. But no matter how many hours I put in, it was still easier than branching out on my own.
Well that has changed. Still not sure just what all my little company will do, but so far so good. Even if I never make the same money, I will be the better for it.
As usual, great column Ryan.
John Deck
Direct Market Results
Great post Ryan,
I think the best solution for people is to start their copywriting gig while they have a steady income, then when they start to realize that they could make enough to pay the bills on a consistent basis…get out of the job and go full-time with copywriting.
This is what Michael Masterson calls being a “chicken entrepreneur” and in my opinion, that’s the best way to start :)
I used to take my copywriting jobs with me to work actually and edit them whenever I got a lag in work. That might not work at all jobs, but it’s something to consider if you have a job where you have some spare time.
Just make sure your boss doesn’t find out and if they do, make sure it’s not a huge problem! :)
Jeremy Reeves
http://www.ControlBeatingCopy.com
Great post Ryan,
I think the best solution for people is to start their copywriting gig while they have a steady income, then when they start to realize that they could make enough to pay the bills on a consistent basis…get out of the job and go full-time with copywriting.
This is what Michael Masterson calls being a “chicken entrepreneur” and in my opinion, that’s the best way to start :)
I used to take my copywriting jobs with me to work actually and edit them whenever I got a lag in work. That might not work at all jobs, but it’s something to consider if you have a job where you have some spare time.
Just make sure your boss doesn’t find out and if they do, make sure it’s not a huge problem! :)
Jeremy Reeves
http://www.ControlBeatingCopy.com
How do I get a copy of Claude Hopkin’s books?
How do I get a copy of Claude Hopkin’s books?
Only way to fly my friend!
Can’t imagine having a j-j-j-j-j-j-j-j-ob!
JP Maroney
aka “Mr. Monetizer”
blog: http://www.jpmaroney.net
Only way to fly my friend!
Can’t imagine having a j-j-j-j-j-j-j-j-ob!
JP Maroney
aka “Mr. Monetizer”
blog: http://www.jpmaroney.net
This is a great post that really drives home the fact that those classics, nearly free on the web, are really the building blocks for anyone getting started with copywriting, and online marketing in general.
To discover that these guys made more money, in today’s terms, than almost all of us put together, gives us a good push to stop the silliness, and sit up and pay attention to these timeless lessons.
Thanks for giving us a nudge, Ryan.
This is a great post that really drives home the fact that those classics, nearly free on the web, are really the building blocks for anyone getting started with copywriting, and online marketing in general.
To discover that these guys made more money, in today’s terms, than almost all of us put together, gives us a good push to stop the silliness, and sit up and pay attention to these timeless lessons.
Thanks for giving us a nudge, Ryan.
There is nothing new under the sun at all. The classic marketing books cover all you need to know. Plus most of them are public domain, so they cost nothing.
There is nothing new under the sun at all. The classic marketing books cover all you need to know. Plus most of them are public domain, so they cost nothing.
I’ve been self-employed since December 2008. While it has had its challenges, I have almost recovered my full-time salary in almost five months. And the really cool thing is that I am not out of work like most of my friends who had “real jobs.”
I’ve been self-employed since December 2008. While it has had its challenges, I have almost recovered my full-time salary in almost five months. And the really cool thing is that I am not out of work like most of my friends who had “real jobs.”
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