what’s the right business model hello
everyone welcome to the TGIM or answer a
question for one of my mastermind group
members in our online mastermind group I
am coming to you from New Orleans today
I’m doing this presentation tomorrow and
the next day and I am lying on my hotel
bed and answering the questions because
I want to help my group and this is a
great question that came in so one of my
master my members has a YouTube channel
she has 13 videos that she’s done in two
months I believe she’s making almost
nothing on her channel and she’s
wondering what’s the right business
model how do I get this going I don’t
want to have to go get a job how do i
turn this into a full time income that
that I can continue to follow my passion
and be really successful with and I’m
gonna throw a curveball I’m gonna do
something that I think is against the
traditional advice that you may get as
much as I love business models and
figuring out a plan ah there’s such a
thing as over planning at the start and
the funny thing is the plan that you
start with is rarely going to be the
plan that you end with and I learned
this lesson the hard way when I was 21
22 and I thought I had the perfect plan
for my software company and and it
wasn’t the right plan and I missed out
on a 40 million dollar deal because of
it because I was too slow to react
because I was so busy trying to find the
perfect plan that I wasn’t actually
paying attention to what was happening
in the market and I lost a huge deal and
so 40 million dollar deal when you’re 20
21 22 that’s a that’s an expensive
lesson to learn the one that I’ve
carried with me for the rest of my
career so far here’s what happens okay I
see this a lot on YouTube and I says lot
with startup entrepreneurs web-based
entrepreneurs you you look at all the
models and there’s nothing wrong with
looking all the mall you say okay you
know what I’m going to create a patreon
campaign I’m going to create a t-shirt
line I’m going to launch an e-book
whatever it is and then you’re still
we’re going to youtube channel but then
you divert some of your attention so you
can focus on the landing pages and the
products and everything else that you’re
trying to create and so see you’re
creating the land
page for a patreon campaign okay and you
know it doesn’t it doesn’t do well you
put it out there it doesn’t do well and
then you think ok well my headline
didn’t work right or the way I market it
didn’t work or something else you can
bring yourself with another reason so
then you take more time again away from
doing stuff on your YouTube channel and
invest it on this and then you launch it
and again it doesn’t work surprised it
doesn’t work and and it’s super
frustrating you think maybe I should
give up maybe maybe that I’m not meant
to make any money from this maybe I know
I don’t have the right plan and the
problem was never with the plan the
problem was the honest truth is you
don’t have an audience that cares yet
that’s like the heart like hit me in the
heart and twist it like over and over
and over comment but its true like you
don’t have an audience that cares enough
to buy a t-shirt line from you to donate
to a patreon campaign to buy your ebook
or whatever other business model you’re
trying to make outside of Adsense your
audience doesn’t care enough about you
yet because you haven’t invested the
time to make an amazing contribution to
the community so they care about you
because you’re diverting your attention
away from making great videos to try to
monetize them and create a business
model too soon and so my favorite way of
doing it is let your audience take you
where they want to go and see if that’s
aligned with you so an example comes
from a great video that was on Tim
Schmoyer his channel not too long ago
where is with the podcast answer man
this guy is like the Guru of podcasting
and he started off in podcasting and he
had his podcast and put a ton of love
into it in a regular series and then
people started asking him hey do you do
you do consulting because I want to do
my own podcast and and I’d love some
help and so we said sure yeah sure I’ll
do consulting why not and so he started
his consulting business and then as I
started doing consulting he realized one
day that he was training he had like
three or four calls back to back and
they’re all about how to use a certain
Adobe product to help create and edit
the show afterwards and he basically
took somebody from scratch
having to knowing how to use it and then
he had to do it for the Mexico from
scratch to knowing how to use it for
their podcast and then one more time
taking from scratch to know how to use
it the next time and this this is
ridiculous like this isn’t fun for me
I’m answering the same thing over and
over and over and over and over again
and then the light bulb went off you
know I should turn this into a product
and that became one of his best selling
products and that’s how he got into the
product business so he started off doing
what he loved his community came to him
and said hey we want we need consulting
will you do this for us and he built it
and then he took the consulting clients
who are paying him and turned that into
products based on what they were asking
for and so that’s what I’ve encouraged
you to do I would encourage you to put
more love into your YouTube channel
because 13 videos in two months it’s not
enough it’s like you want to turn this
into a full-time a career you want to
make some serious money from this you
got to be doing it once a day you got to
find a way to do it once a day get more
content up there and if you have to go
take a job on the side part time to
support this passion of yours and this
is where you want to go and do it do
whatever you need to do to get that
happening build up your audience put a
lot of love into it and wait for them to
come up with ideas people say hey you
know people write to me and say hey I’d
love to donate to use our way to do it
migrate a patreon campaign people saw
some of the quotes that I had said
that’d be a great t-shirt so we created
a t-shirt line but even that’s on a
small scale that’s not even doing
massively well for me either people ask
me if I did consulting and so I created
the mastermind group uh you know brands
found me and they said hey Evan we’d
love to have you sage why am I here
right they found me on social media
because I’ve been pulling tons of love
into it and they asked me to come and
speak at their event i’m doing an event
i’m speaking tomorrow i speak at their
next day and so that’s why i encourage
you to do is pour tons more love into
the channel kick up a ton of noise and
then let your audience take you where
they want to go and see is that align
with what you want to do and i think
you’ll have a lot more success I think
you’ll have a lot more fun doing the
stuff you want to do I think you have a
lot more a lot less stress trying to
figure out what the perfect model is
and I think it allows you to be flexible
in in being able to follow what the
market wants instead of you trying to
predict where it’s going because your
prediction is always going to be wrong
and it’s way better to listen to your
customers and go with them so that’s my
advice little curve ball today from
Monday night but hopefully that helps
and looking forward to seeing how you do
this month take care everybody
everyone welcome to the TGIM or answer a
question for one of my mastermind group
members in our online mastermind group I
am coming to you from New Orleans today
I’m doing this presentation tomorrow and
the next day and I am lying on my hotel
bed and answering the questions because
I want to help my group and this is a
great question that came in so one of my
master my members has a YouTube channel
she has 13 videos that she’s done in two
months I believe she’s making almost
nothing on her channel and she’s
wondering what’s the right business
model how do I get this going I don’t
want to have to go get a job how do i
turn this into a full time income that
that I can continue to follow my passion
and be really successful with and I’m
gonna throw a curveball I’m gonna do
something that I think is against the
traditional advice that you may get as
much as I love business models and
figuring out a plan ah there’s such a
thing as over planning at the start and
the funny thing is the plan that you
start with is rarely going to be the
plan that you end with and I learned
this lesson the hard way when I was 21
22 and I thought I had the perfect plan
for my software company and and it
wasn’t the right plan and I missed out
on a 40 million dollar deal because of
it because I was too slow to react
because I was so busy trying to find the
perfect plan that I wasn’t actually
paying attention to what was happening
in the market and I lost a huge deal and
so 40 million dollar deal when you’re 20
21 22 that’s a that’s an expensive
lesson to learn the one that I’ve
carried with me for the rest of my
career so far here’s what happens okay I
see this a lot on YouTube and I says lot
with startup entrepreneurs web-based
entrepreneurs you you look at all the
models and there’s nothing wrong with
looking all the mall you say okay you
know what I’m going to create a patreon
campaign I’m going to create a t-shirt
line I’m going to launch an e-book
whatever it is and then you’re still
we’re going to youtube channel but then
you divert some of your attention so you
can focus on the landing pages and the
products and everything else that you’re
trying to create and so see you’re
creating the land
page for a patreon campaign okay and you
know it doesn’t it doesn’t do well you
put it out there it doesn’t do well and
then you think ok well my headline
didn’t work right or the way I market it
didn’t work or something else you can
bring yourself with another reason so
then you take more time again away from
doing stuff on your YouTube channel and
invest it on this and then you launch it
and again it doesn’t work surprised it
doesn’t work and and it’s super
frustrating you think maybe I should
give up maybe maybe that I’m not meant
to make any money from this maybe I know
I don’t have the right plan and the
problem was never with the plan the
problem was the honest truth is you
don’t have an audience that cares yet
that’s like the heart like hit me in the
heart and twist it like over and over
and over comment but its true like you
don’t have an audience that cares enough
to buy a t-shirt line from you to donate
to a patreon campaign to buy your ebook
or whatever other business model you’re
trying to make outside of Adsense your
audience doesn’t care enough about you
yet because you haven’t invested the
time to make an amazing contribution to
the community so they care about you
because you’re diverting your attention
away from making great videos to try to
monetize them and create a business
model too soon and so my favorite way of
doing it is let your audience take you
where they want to go and see if that’s
aligned with you so an example comes
from a great video that was on Tim
Schmoyer his channel not too long ago
where is with the podcast answer man
this guy is like the Guru of podcasting
and he started off in podcasting and he
had his podcast and put a ton of love
into it in a regular series and then
people started asking him hey do you do
you do consulting because I want to do
my own podcast and and I’d love some
help and so we said sure yeah sure I’ll
do consulting why not and so he started
his consulting business and then as I
started doing consulting he realized one
day that he was training he had like
three or four calls back to back and
they’re all about how to use a certain
Adobe product to help create and edit
the show afterwards and he basically
took somebody from scratch
having to knowing how to use it and then
he had to do it for the Mexico from
scratch to knowing how to use it for
their podcast and then one more time
taking from scratch to know how to use
it the next time and this this is
ridiculous like this isn’t fun for me
I’m answering the same thing over and
over and over and over and over again
and then the light bulb went off you
know I should turn this into a product
and that became one of his best selling
products and that’s how he got into the
product business so he started off doing
what he loved his community came to him
and said hey we want we need consulting
will you do this for us and he built it
and then he took the consulting clients
who are paying him and turned that into
products based on what they were asking
for and so that’s what I’ve encouraged
you to do I would encourage you to put
more love into your YouTube channel
because 13 videos in two months it’s not
enough it’s like you want to turn this
into a full-time a career you want to
make some serious money from this you
got to be doing it once a day you got to
find a way to do it once a day get more
content up there and if you have to go
take a job on the side part time to
support this passion of yours and this
is where you want to go and do it do
whatever you need to do to get that
happening build up your audience put a
lot of love into it and wait for them to
come up with ideas people say hey you
know people write to me and say hey I’d
love to donate to use our way to do it
migrate a patreon campaign people saw
some of the quotes that I had said
that’d be a great t-shirt so we created
a t-shirt line but even that’s on a
small scale that’s not even doing
massively well for me either people ask
me if I did consulting and so I created
the mastermind group uh you know brands
found me and they said hey Evan we’d
love to have you sage why am I here
right they found me on social media
because I’ve been pulling tons of love
into it and they asked me to come and
speak at their event i’m doing an event
i’m speaking tomorrow i speak at their
next day and so that’s why i encourage
you to do is pour tons more love into
the channel kick up a ton of noise and
then let your audience take you where
they want to go and see is that align
with what you want to do and i think
you’ll have a lot more success I think
you’ll have a lot more fun doing the
stuff you want to do I think you have a
lot more a lot less stress trying to
figure out what the perfect model is
and I think it allows you to be flexible
in in being able to follow what the
market wants instead of you trying to
predict where it’s going because your
prediction is always going to be wrong
and it’s way better to listen to your
customers and go with them so that’s my
advice little curve ball today from
Monday night but hopefully that helps
and looking forward to seeing how you do
this month take care everybody
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