Will You Ever Get the Nerve to Monetize Your Message?
How long is it going to take you from the time you feel okay about your message until you put the steps in place to monetize it? Next year? Next Month? Or, worst of all, When you feel your story is worth telling?
That’s an easy one. First of all, it will never be perfect, because as you grow your story will evolve, take on new characteristics and meaning, let alone reach perfection. You are human after all, and even though “Good Enough” is taboo to perfectionists, good enough is good enough to get started on the processes needed to begin to make money from it.
That is why you are trying to learn from all I am sharing with you, isn’t it? That’s why you read this blog, isn’t it, to make you more confident and reassured in your journey toward helping others with your genius, your gifts? Your story is the root of your gifts, so put the steps in place to make a financial return on it already.
The REAL answer to the title question hopefully is, right now, today. That’s the decision you should have come to long before ever reading this article.
You Need a System, a Formula, the Revenue Growth Blueprint™
Sure, you have a story, everyone does. What makes you unique to the majority is that you realize your story has real value and can help others. Most never even consider the experiences of their lives told in such a way have the ability to help others and also make a great living for them. But you need a means by which to organize your thoughts, your delivery mechanisms and the necessary positioning to create revenue streams, even multiple revenue streams.
Before we go marching to this tune, please bear with me for a moment. I want to share some of my philosophic perspective; my take on the need for multiple revenue streams derived from your story, your message, your gifts to the world.
You see, about nineteen years ago I was faced with some real issues, whether I would live forever in my car knowing that I had talents going to waste, or if I would find some way to change my situation and develop a way to help others. I knew it would take special thought processes based on my own personal history. I could have gone in a number of directions, some even painful even thinking about. I needed a system, so I searched and researched for the right formula.
My goal was and is to help others struggling with trying to make a living that is worthwhile in the service of others. My desire is to live and teach others how to live a meaningful, lifestyle business that can provide a reasonable living for myself and my family as a legacy, and to help others do the same.
I have been blessed in many, many ways. I had the good fortune to travel the world throughout my first career, first while serving nearly eight years in the Air Force, and secondly as a professional executive in the private club industry. I love to travel, to see new things, to live a blessed life. I know others feel the same way, but are trying to figure out how to do so without having to struggle to make ends meet month after month. I struggled and am making huge strides since my fall into the pit of despair in the years of 1999 & 2000.
Since that time I have created several streams of income, from real estate investment, buying and saving gold in very small increments, authorship, speaking, coaching, and training. Each one of these facets of what I do provides some form of revenue all coming from different directions. That is the key to living a lifestyle business, and I encourage you to find out how you can create streams for yourself. I hope this will inspire you to seek more knowledge on how to do so for the benefit of yourself and your loved ones.
There is No Solution Without a Problem
I’m pretty good at latching on to statements that seem to fit somewhere in my speaking and writing. Many of my friends and my regular readers know that I speak about my grandfather and grandmother a lot. They are in my books, some of my articles, but always in my heart. They taught me so much in the years I spent with them. Growing up with them as my mentors was the greatest gift I received growing up, and their mentorship and guidance comes into play all the time. Take this statement as an example. There is no solution without a problem being present. How true. I live in a condo association. The neighbors are always looking for problems because they think they have solutions to protect the neighborhood, make the place more efficient (to keep the monthly assessment in check) and to keep out the rowdies.
Well, in a way that is true about everything. If you can identify a problem, a pain point or a challenge in your target audience, you can address them with your customized solutions. Just because you have yet to uncover more than one or two since working with them, just wait. More challenges will appear, just have the solutions at hand. Think in advance of the situation because there is always a pain point not being addressed. Sometimes your ideal audience won’t even recognize a pain point unless you bring it to their attention. That’s called client-centric. You’re not manufacturing reasons for them so share their money with you, you’re solving problems. That’s what you do, isn’t it?
Clarity of Purpose, Clarity of the Revenue Growth Matrix™
Like I said, you need a system. I refer to mine as the Revenue Growth Matrix™ , but you can use my method or make your own. I’ve modified my thinking a few times, and this is the method that works best for me and my business. Yours might be different, so use this until you find something that works best for you.
Because I was a leader of a large staff of employees and was very successful at growing other people’s businesses (my hospitality days) I knew I could make money in that arena. I hadn’t tested it very much early on however. Then came the other skill sets I actively employ in my business dealings today. If you look at the end two, real estate and hospitality, these are quite a bit different than the cluster to their left. I have been investing in real estate since I lost millions back in 1989 and 1990 in an embezzlement deal. I didn’t use the skills for about twenty years, but re-invested in education and am now active in the rental property and rehab markets in sever locations. Hospitality is an arena I know a great deal about and had been coaching and helping restaurants, hotels and clubs with their marketing. I am slowly moving away from this segment of my income earning streams because they are high maintenance and low revenues.
I simply lay this out on a graph in Excel, but there are automated systems for this kind of documentation. You decide what works for you, this works for me because it is simple. Not too much thought goes into maintaining it. I keep side notes to remark on every action marked. When I find new opportunities that I can fit into my schedule that will produce good, consistent revenue I simply plug it in.
If I am generating say $10,000 a month from working with individual clients, that’s a six-figure business. It takes a lot more time than group coaching, but my per person revenue price is less than that, so I produce more value and convert my private clients into group clients and teach ten people at the same time, thereby freeing up loads of time to do other things, like travel or write another book. You get the idea, these are not stagnant, they evolve and change as opportunities are presented and efficiencies are identified. As long as the value is always on the upswing, the turnover is minimal.
The Nuts and Bolts
Identify what it is you know that you can teach others right away? Why not float some questions online and get a feel for the interest level of a course on “basket weaving” or “apple bobbing” or whatever idea you have in mind. This is the best way to build a course, sell it before you build it. It doesn’t make much sense to spend hours and dollars producing a course that will never sell. It’s a lot easier building a winning idea than building an idea that will never sell. You’ll invest weeks and months building something that will never see the light of day. So, offer a Beta Version at a really good price, with the understanding that its price is reflective of the fact that you and the enrollees will be learning as you go. It’s done that way every day of the year, so this is not a new idea.
You’ve just added another stream of revenue. You can place the finished course on Teachable, or Udemy, or Kajabi. They all allow online courses to be sold and viewed on demand, and each has a pay system so you get paid every time someone signs up. Just review all of them as each one has different features.
Think about creating an affiliate program so others can sell for you. This is a great way to expand your revenues without any effort on your part at all. The one cautionary statement I’d like to make is that you need to keep your affiliates informed and motivated. If there are any changes to your product or service, you better take the time to inform them. Also motivation is best performed when you run a contest for the highest sales in a given period, and extra incentives too.
Poof, another stream of revenue. Sure, you have to pay out a commission, but it doesn’t cost you a dime to have them out selling for you.
How about creating strategic alliances with other businesses that are compatible with yours? I recently set up an alliance agreement with a company that offers high-end marketing content assets for specific niches I want to penetrate but haven’t had the time or energy to produce all of the marketing assets. I agreed to add their product line to my marketing bundles.
Poof, another stream of revenue without all the hard work. I am already making inroads into the niche I have been working in, and now I can earn without the backend client maintenance. One and done sales with a hefty commission works for me.
Monetizing your story and your message is why you are who you are. I believe we are all called upon to use our gifts for the benefit of others. There is no reason why you shouldn’t be paid for helping people realize their potential. The world needs your goodness, your genius, your gifts. Find all of the talents you possess and figure out a way to develop a stream of recurring revenue from it. One of the ways is to create dynamic online courses that will sell when you are asleep. They will sell while you are traveling, playing with your children and grandchildren, even selling when you are no longer with us in body, only spirit.
Monetizing your story is a responsibility you have to those you love, not just a way to make a living. As Nike says, Just Do It.
David J Dunworth CEO
When he’s not leaping tall buildings and saving cats from trees, David is helping solopreneurs go from ZERO (where they are stuck) to HERO (where they would like to be) using proprietary systems, Magnetic Marketing® and Influence Building. You can find him online just about everywhere. Just Google him.