𝙔𝙊𝙐 𝙖𝙧𝙚 𝙩𝙝𝙚 𝙩𝙧𝙪𝙚 𝙙𝙚𝙘𝙚𝙣𝙩𝙧𝙖𝙡𝙞𝙯𝙚𝙙 𝙘𝙧𝙮𝙥𝙩𝙤𝙘𝙪𝙧𝙧𝙚𝙣𝙘𝙮.
One of my biggest mistakes in my first online business back in 2005 is I created the business around the products I sold.
There were 3 problems with that:
1 - Unless you own the intellectual property, other people could sell the same stuff that I sold.
2 - People could also could create products that competed with the ones that I sold.
3 - Physical products require materials, manufacturing, warehousing and shipping.
This creates what's called a Red Ocean (bloody red waters where the sharks fight for every fish). It becomes a race to the bottom where the lowest price wins.
But here's the thing that I didn't realize, I shouldn't have been growing a business around the products or 'what I did', instead I should have been building my personal brand and making the offers that I sold just a part of the business. Do you see the difference? The focus is on the brand and not the products or offers.
What is a personal brand?
99% 𝙤𝙛 𝙩𝙝𝙚 𝙬𝙖𝙮𝙨 𝙩𝙤 𝙢𝙖𝙠𝙚 𝙢𝙤𝙣𝙚𝙮 𝙖𝙧𝙚𝙣'𝙩 𝙖𝙨 𝙚𝙖𝙨𝙮 𝙖𝙨 𝙩𝙝𝙚𝙮 𝙨𝙤𝙪𝙣𝙙. But every now and then, there's something that smacks you in the face because it really is that simple.
I just dropped an episode with Ilyse Craft, known as the 'Supercoach' on Linkedin and someone who I consider to be a LinkedIn Legend, on something we've both been geeking out on:
Making affiliate income from recommending products and services that you know and love and are already recommending to people; also known as affiliate marketing.
At a very basic level you could make enough to cover or bring down costs of things you are already buying, or you could use it to supplement your business income by taking a more active role in recommending products or services to your clients. And some people create full on passive businesses by using social media to create a tribe around a topic, then connecting those people with recommended products and services.
Benefits of creating an affiliate marketing business...
It’s no surprise that LinkedIn has played a big part in my building a business and a podcast that I LOVE!
During COVID in 2020, my income evaporated as hospitals were shut down for months and I needed a backup plan.
I use LinkedIn to boot up a coaching business and exactly 3 years ago I got my first Mindset Client. I remember it was so weird getting PAID to teach something I LOVE talking about!
Within a couple of months, I got 2 more inbound mindset clients and within 4 months I had grown my following from 500 to 2000 and launched my first digital course!
Since that time, LinkedIn has been a great resource for me to make money, build relationships and collaborations, learn from others, and grow my podcast.
At the beginning of 2022, I launched an audio masterclass (a course you could listen to on your phone) called ‘9 Ways To Monetize LinkedIn’ which I got a lot of really great feedback on.
It contained lessons...
I’ve always had a passion for music and when I was in my mid 20’s, I wanted to be a DJ and play in front of thousands of people at some of the best clubs.
That was my dream, but the reality was that it was a VERY crowded market and at that time EVERYONE wanted to be a DJ too.
Crowded market, does that sound familiar?
Unless you had some really good connections, this meant you were either playing in your basement to your 4 friends or if you were lucky, you got a gig but played in the back lounge of some club where no one was.
Gigs on the main floor were so far and few in between, and living in Salt Lake, bigger DJs would be sucking up all the gigs because it was easy to cash as they traveled from East Coast to West Coast or vice versa.
I didn’t want to play in my basement in front of 4 friends or the back lounge of clubs, I wanted to be on the main stage, and I had to figure it out!
Trying to find the club owner...
Today I wanted to share my favorite app to create passive income!
If you know me, you know I LOVE passive income because it’s money that you can make on autopilot after you create the assets.
Not only that, but with this app and this strategy, the income you make passively will often create clients that you work with actively!
I’m saying you can get paid for leads!
Many of you on my list are coaches or entrepreneurs, but some of you were told by a ‘marketing guru’ that you shouldn’t focus on low-ticket offers because you won’t make any money, or you’ll attract clients that don’t have any money.
There’s nothing further from the truth!
Two weeks ago I rolled out a new workbook...