This is a summary of this video. Hey, I’ve got a question for you. Are you chasing money or are you chasing fame? There seems to be some confusion about that.
A lot of people are chasing fame. They think they’re chasing money, but they’re chasing fame.
This is how I can tell if you’re one of them. The internet is in a constant state of evolution. Each year it changes. Sometimes it changes monthly. And if you’re on the old-school method of getting a bunch of followers and then pitching to them, more than likely, you are chasing fame.
If you’re trying every new App, being on every new platform and you’ve got yourself scattered, you’re feeling stressed. If you’re still not making money, then it’s more than likely you’re chasing fame.
There are a few things you can do to make a big difference in your online business, and you can start today. One of the things is picking some kind of discipline, some kind of topic.
You can make money from a website. You can make money from a YouTube channel. You can make money from a podcast. You can make money from a Facebook page. You can make money from a Facebook group.
There’s a lot of different ways you can make money online. That’s part of the reason people struggle, and that’s part of the reason people get into chasing fame.
It looks like they’re chasing money. I’m over here tweeting and on Instagram. I’m doing all of this stuff. But, if you’ve been doing this a year and you’re barely making any money, or you’re not making any money at all, you’re hustling backward. You’re chasing fame and you don’t even know it.
There’s something you should chase before you chase money. You should chase happiness first, and then chase money. Big difference. There’s a lot of people who have money and they’re not happy.
The internet is so huge. There are so many people. There are so many topics. There are so many genres. You need to become good in one place and dominate it.
I’ll give you an example of something I did last year. I put together this package. I sold 450 people on that program. That’s not a lot of people. It was from an email list of 500 people, which means a 90% conversion rate. I did $70,000 in 10 weeks.
What I learned from that experiment was about how crucial targeting is in business. If your marketing is highly targeted and you have the right people on your list, it is easy to make money.
But let’s get back to the part before easy. You’ve got to have the right product. You’ve got to have the right people. You’ve got to have the right list.
These three things are crucial. What I used to do, and many of you still do, is to create a product first; then find an audience. That’s hustling backwards. It works. People have made a lot of money doing that.
But, what you should do, is to focus on the marketplace. You should focus on the audience first. That’s going to take some time, which is usually what causes some problems. You’ll get someone who has got to make money, right fucking now.
When you have to make money right now, there’s no time for introspection. There’s no time for research. There’s just no time.
You’re putting yourself in a bad position when you have to make money right now.
So, let’s clear up something. If you’re broke and you’ve been laid off, the first thing you’ve got to do is get yourself a job. Get a part-time job, a hustle with Uber. A hustle with Lyft. Something.
Get yourself a job, and this is why.
When you have to make money and you’re trying to hustle and don’t have hustle skills, the desperation is written all over your face.
You’re trying so hard and you’re putting in so much effort, it is easy for you to burn out. It is easy to become demoralized, to lose your mind.
If you are that broke and that miserable and you’re sleeping on a friend’s sofa, get a job. Then prepare to have that job for 1, 2, 3, 4 years while you hustle on the side. This is the truth of the matter. If you were good enough to just come off that couch and start hustling and making it in 30, 60 or 90 days, your ass would have never landed on that couch. Tough love. I know it’s true. So, think about that.
So how do you start to chase money, step by step?
Step 1: Pick something you want to focus on. Focus on that one thing for a minimum of 30-90 days. To really be better off, you should probably focus on one thing for six months.
Now, this is the rule before you start adding something else. You want to make $10K before you add something else. If you make 10K and you dedicate yourself to one thing, then there’s a process that comes from that. There are things you learn. Once you have the foundation together, then you can add something else and make $20K. Then you can add something else and make $30K.
Step 2: Go back over what you do each week. If you’re not making any money, ask yourself why. Are the things you’re doing profit-making activities?
I had this client who was spending 80% of their time on non-profit making activities. So, when I jumped in, I got rid of 70% of that stuff that wasn’t working. Profitability improved in 90 days, tenfold, because they focused on their time.
Step 3: What are money-making activities? They are things that generate sales. How do you get to the sale? You must have a product or service. You must have marketing that lets people know you have a product or service. Then, you must establish trust. That’s it in a nutshell.
How do you do this? You have a blog, a YouTube channel, a podcast. These are what I call traffic drivers. It’s going to take time, unless you have a lot of money.
The reality is that anyone, in my estimate, can start a business that creates a livable income of $50K a year in 6 to 24 months from scratch. But, you will be hustling your face off.
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