So the tactics might have worked, if he had better marketing materials. I'm not saying he had bad execution. But it might have been a reason. And believe me, I tried them all. That's commendable, but the fire can't get any hotter than the candle.
Most entrepreneurs can build a business to a certain level, but no higher.
That's when they bring in professional managers who know how to grow a business. You could look at that model as well. You can always get help on the 'Net, usually by trading services. With 150,000 readers, I'm sure he could have exchanged an ad or two for some consulting time with a top-notch copywriter. We'll never know what the fault was.