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Monetize Your Content: From Content Creator to Content Entrepreneur
Episode 1438th July 2022 • Women Conquer Business • Jen McFarland
00:00:00 00:52:23

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The Women Conquer business show is an educational how-to

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women in business podcast.

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That features stories, marketing news and real life experiences

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from fun and friendly hosts.

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Jen McFarland and Shelley

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Carney.

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Join us as we dive

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into the details.

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So you can slay marketing, overwhelm, streamline processes

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and amplify your.

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You'll learn strategies and tactics, leadership skills, and practical

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advice from successful women entrepreneurs to help you grow,

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nurture, and sustain your business.

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Whoa.

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Hey, welcome to Women Conquer Business.

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I'm Jen McFarland.

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We are talking today, Shelley Carney and I are talking today

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about how to monetize your content.

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From content creator to content entrepreneur being a content

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entrepreneur drives the creator economy.

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We have, we've been reading all of these studies about how much

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money content creators make, what it is that they do all the time.

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And we think it's important to really talk about how a creator economy helps your

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audience helps you build your business.

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So that's what we're gonna talk about today.

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We're gonna explore the ways you move from having a hobby to a jobby,

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to becoming a business owner while creating the content that you love.

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So we'll talk about preparing mentally, emotionally, and physically

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to become a digital CEO and how to build a money making machine.

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This is exciting.

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think I'm just gonna listen.

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I'm just gonna listen.

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I wanna money making machine, how

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do I do it?

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How do I do it?

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How do I do it?

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No, I have, and Shelley knows I've monetized.

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For a long time.

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And so this is exciting to really share some of what I know, listen to what

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Shelley knows and help you along the way.

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That's right.

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And we're excited to share this and if you also have some great ideas

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for things that you've done, we hope that you'll share that with us.

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Yeah.

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Let us know in the chat.

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If you are watching today, live, if you're listening please send us an email.

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Reach out to us, let us know how you're doing it.

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Or if we miss something like, there's all kinds of ways of doing this.

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There's no one right way.

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That's right.

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We're gonna share what we know and what we've learned.

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What's up over there in New Mexico?

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Hey, I'm home in New Mexico and I'm very happy to be home with my husband and

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with Toby, once again, I'm in the studio.

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So I have sounds yay.

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And all the bells and whistles, which I love.

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So that means I can get back to work on my course, recording the videos,

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keeping them short and focused.

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The problem with livecast life YouTube series that we have is each

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one is about an hour long, and nobody wants to sit through 18, 19 hours of

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content to pull out the best pieces.

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So I'm gonna do that.

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For you.

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You're welcome.

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And if you're interested in learning more about all this live streaming

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stuff, and how does this work and how do I do a podcast that is video first?

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And because that is now a really big thing.

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So I'll be talking all about that in this course and to

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it, you know why video first is such a big deal?

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There's a lot of reasons people love video, but it's also that they've

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found that audiograms don't work.

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Why is that?

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Why don't people love my audiograms?

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They're so cool.

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I worked hard

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on them.

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They're not really interactive, think about it.

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It's like, why would I look at a picture with like words like scrolling?

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I don't know.

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Anyway it's so weird.

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I think you sent me that link too.

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Which one?

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The audiogram one.

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Oh, I don't know.

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Or no I love my audiograms, but they are work and.

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It's just so much easier just to show up, live and

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Do a thing.

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Yeah.

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Yeah.

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Even though Descript makes it a little easier.

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That's why I use lately to chop up the videos and share 'em on social media

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because people like to see videos.

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They like to do that.

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So that's my chopping up videos sound.

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So so I was on the Tactus Media Podcast with Bryan Cargill.

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We had a really great time.

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It was one of the first times I've talked about epiphany courses out in the wild.

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And it was like right as I had turned on the website and

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it was just so cool to talk.

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We talked about streamlining your marketing processes and it's on both

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YouTube and on Spotify and all the regular podcast places, but it was just

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really neat to talk about epiphany and why I'm so passionate about like you

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said, short courses that help people just get through the decision making

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that they have to do without having.

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Pour over 20 hours of content and then be like yeah, no, I don't wanna do that.

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. Yeah.

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And they can make that decision so much quicker and they can modify it to

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their own needs and that's so helpful.

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Yeah.

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And you're gonna put that link in the description for everybody.

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I put that in the oh, should I put it as a comment?

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Can people,

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you can certainly do that.

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Let me do that.

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Oh my goodness.

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Put it in there, but yeah.

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Yeah, it is a so we have.

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It's on YouTube.

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And again, I don't have the link in front of me for, Spotify, you

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can you can certainly, sorry, my mom's on my like, list.

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So she just called me in the middle of this.

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I'm like, I thought I do not disturb on, but,

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but she's allowed in

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anytime she's allowed in anytime.

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, isn't that funny?

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Our family always seem to call us right in the

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middle of a live show.

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I know.

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It's fun.

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If you people would watch our live show you'd know when you were live

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yeah, obviously mom, you're not on there.

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So so if you wanna learn more about epiphany courses, head over to epiphany

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courses.com or take the time to watch this interview with Bryan Cargill at

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Tactus Media, he does all kinds of cool stuff with the video as well.

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He's a local person that I've met in several different groups

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and he's just a really cool guy.

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Let's talk about breaking news.

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Let's do it.

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All right.

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So Google who is not into privacy.

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They're going through all sorts of lawsuits in Europe where, they have

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GDPR, they have all these privacy laws and Google is always just kinda

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Eh, and even though they have privacy laws in California and they're out

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of California, I think they're still like, eh, whatever we don't care.

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So now in the wake of the Dobbs decision by the Supreme court

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on abortion, Everybody was saying what's Google gonna do.

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People are gonna be able to track where they've gone.

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That gets sent, shared with data brokers.

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People are gonna know where women are going.

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If they're gonna, if they're going to abortion clinics or

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even counselors or anything.

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Now Google has said they're gonna auto delete location.

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If it was, if it's in a quote sensitive place, . I don't believe them.

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A lot of people don't believe them.

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I have a link to an article about it from my friends over at nearmedia.co.

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And it's an interesting thing.

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So I talk a lot about privacy.

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I've said before that I don't have.

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Alexa and all kinds of things in my house.

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And it's because I worked in data privacy so it's not just some fly by night.

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Jen's crazy conspiracy theory kind of thing.

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It's because I know how easy it is to track information and get the

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information and sell it to other people.

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So people know about it.

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And I personally don't believe Google because I've been following

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all of these court cases.

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Where they're just kinda eh, we'll pay the fine.

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So if you wanna learn more about Google auto tracking your location

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and this and that they wanna auto delete it, or they're saying that

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auto-delete it head over to nearmedia.co.

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We will also put the link in the show notes as I think it's a pretty.

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Interesting read.

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And I always like to support David Mim and his partners over there.

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They do a lot of really great stuff.

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As some of, David is the architect of the prosper Portland, inclusive

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business resource networks pro digital marketing program.

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I've worked with David for a long time.

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He's a trusted friend.

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So whatever they say over there for the most part is just like right.

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Aligned with my own views.

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When it comes to marketing.

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So that's an interesting thing.

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There's also an interesting tidbit in that article about Shopify

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and how they're trying to really conquer more of the consumer market.

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They've done really well with B2B.

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If you have like ShopPay and some, they have whole host of apps now with Shopify.

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That they're trying to break more into the consumer market.

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I got the shop pay app once.

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Cause I wanted to try, I bought my husband a guitar and I wanted to

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know when the guitar was coming.

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And then I realized that it would tell me when, whenever I ordered from a

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Shopify website, which I'm not always paying attention to that, it would tell

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me when all of those orders would come.

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And so it's a really cool app.

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And so they have a whole bunch of apps and that's also in that article which

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is a pretty interesting read overall.

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The other tidbit the other form of breaking news that I have is 20, 22

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is the year of relationship marketing.

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Now I've been teaching relationship marketing for a long time.

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I've talked about it for a really long time because I've followed people.

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That also talk about relationship marketing for a long time.

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So the quote from the article that I think is really intriguing is as a marketer

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treating, using personalization is not something that you can sleep on anymore.

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Not after COVID people want to have a voice, they want to be recognized and

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they want to be given recognition for their allegiance and loyalty to brands.

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So it means that you can't just.

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Automate your marketing.

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You can't automate every, your personalization you have to really work

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harder to make sure that your customers.

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Special and heard and needed.

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So that's what this means.

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In terms of relationship marketing.

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Now I'm in Portland, Oregon.

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I was teaching to a group even last night and talking about mark Schaefer,

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who says, the most human company wins.

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There are a lot of people that talk about this in Portland, this is the only way

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to do business relationship marketing is how we teach, how I teach marketing

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100% of the time, because Portland is the biggest small town I've ever lived in.

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Everybody seems to know everybody.

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If you start, messing everything up, then, word gets out and it's really hard.

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I think that's the case in a lot of communities, but in Portland

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we have so many small businesses.

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We don't have a ton of fortune 500 companies until you may,

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and even in Oregon in general.

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So it's run on small business, which is built on relationships.

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And so when I see this, I'm like certainly 20, 22 is the year of

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relationship marketing given COVID and COVID, changed the way that we shop.

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But I would argue that for small businesses, it's been the year of

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relationship marketing forever.

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it's just how you do marketing.

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Is you talk about what's going on.

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You help people on a one-to-one basis.

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Marketing is also tied to your customer service efforts and

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different things like that.

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So I don't, I, I think this article is really interesting.

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It's in marketingtechnews.net, and we'll put that also in the

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chat and also in the show notes.

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It's an interesting read.

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And I would say that every year is the year of relationship marketing.

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In my opinion,

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well, I was listening to a podcast and.

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They were making a great point that.

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Is, there's a thing.

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There's a trend coming up and it's especially prevalent in business travel

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that the these different companies, like for instance hotels and rental cars

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and things like that they're getting to where they're like seeing how much they

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can get away with not giving you anymore and still charging you the same amount.

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Yeah.

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Not cleaning your.

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If, unless you specifically requested.

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Toby just stayed in a hotel on his trip to Florida.

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And they told him they would clean the room every three days if he requested it.

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And he said can I request it more often?

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I wanted every day.

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And they're like, oh okay.

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It's like you, you have to beg for the things that they used to just

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be part of the customer experience.

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So they're just taking things.

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Airlines.

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Yeah.

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Have those clubs.

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They're limiting the amount of time that you can spend in that club now.

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Because families have been starting to come in and use the resources that they're

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being offered and they're staying in there taking away business traveler basically,

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but they've just made this rule.

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Clubs this much time, then you're out.

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And they're just starting this, eating away at all of the customer

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experience and it's, it's, and they're seeing how much they can get away

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with without, you complaining and you quitting on them and there's other

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places like print media instead.

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We're not able to send you a magazine anymore because of supply chain issues.

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So we're just gonna change it over to an electronic magazine and that,

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and we're gonna charge you the same amount and that's gonna be okay.

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And see, this is where it's, you can take advantage of the fact that you're

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small and because this is a small business show you have the ability

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as long as it's within your margins.

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And you have the ability to make things personal.

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You have the ability to be very personalized in your marketing.

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It may take a little longer sometimes to provide that extra customer service.

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But one of the things that we found during COVID is.

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Not a lot of people feel loyalty anymore.

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And I think it's because of what you just described.

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why would I feel loyalty?

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Why would I go back to the hotel?

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That's I'm only gonna clean the room if I don't know if you whine

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about it, if you whine about it if you've complain, we don't even wanna

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come in every three days, Uhhuh

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Yeah.

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But they're gonna charge the same and that's

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right, so

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it's, let's get on it.

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Yeah.

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So it's crazy.

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I, I don't get it.

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But as a small business, you have the ability to.

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Give people something a little extra, you have the ability to

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maintain your same level of services.

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If not increase them in little ways that are low cost and mean

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the world to your customers.

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And

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you might see places like this where you can.

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Jump into that empty space, oh people aren't happy with their hotels.

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Maybe I can do an Airbnb that's cleaned every day or whatever it is.

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How can I take advantage of these big companies not offering the

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full customer experience anymore?

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Can I supplement that customer experience?

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Can that be a business

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for me?

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Exactly.

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Yeah, exactly.

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Did you have anything under breaking news?

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Are you ready to do the training?

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Move into it.

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Are you ready?

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Move into it.

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Here we go.

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I'm ready.

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we have some slides.

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Let's do our slides here.

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We.

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Monetize your content from content creator to content entrepreneur.

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And that's a differentiation, isn't it.

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It's going from a hobby to a jobby, to a business.

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So what is a hobby?

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A hobby is.

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Something that's fun.

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You like to play in your hobby and you do not expect to make money from it.

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Often you expect to put money into it.

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We spend money on our hobbies.

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If our hobby is knitting, we go out and we buy the yarn.

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We buy the patterns and we watch the YouTube videos and

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we make art knitting projects.

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And we don't expect to make money from that.

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but someday we might have some things that we would sell on Etsy.

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And that might be a jobby because we are maybe making.

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Even amount we're spending as much as we're making or, we're processing

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through that from a hobby to a jobby and selling some of our items, our crafts.

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And then we say, you know what?

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I really wanna make a business that makes money makes more money than I'm spending.

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And actually.

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Gives me money to spend on other things.

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Now it's a business now I care now it's serious.

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From playing to trying to committing.

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And we go from renting.

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Like we rent when we are on social media.

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When we are on Twitter and Facebook and YouTube and all of the social media we're

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renting, we are just testing it out.

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We're saying, hi everybody, come follow me.

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Look what I'm doing.

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And I've got stuff to tell you.

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That's great.

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That's a wonderful way to start, but.

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Those platforms can be taken away.

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They can change overnight.

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And they often do everybody's like right now, really excited

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about TikTok that could change.

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I have a friend who's got over 2 million followers on TikTok, but

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does he make a living from that?

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No, he does not.

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And TikTok is not owned by him, he can't.

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If they decide to make a change and then we can subscribe, right?

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We can get like applica applications and software programs that we

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subscribe to that we pay monthly on.

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And we have a little bit more control then for instance, stream

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yard we subscribe to stream yard.

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We pay monthly on it and we have some control there.

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They listen to us.

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If we ask for certain things, we say, here's what I need

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from stream yard to do my.

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To do my content creation and to spread my message, I need these things and

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they will consider it because you are a subscriber they're making money from you.

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But when you own something, like when you buy, for instance, SendFox, which we'll be

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talking about later, you now own that app.

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And when you have ownership over something like your email list or your

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website, now you have some control and it's not going to change overnight.

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You can have some dependability within that ownership.

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You can go from one social platform as a hobby.

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I'm on YouTube and I'm great.

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And I love YouTube and that's it because it's a hobby, but when you start going,

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you know what, maybe I wanna be on YouTube and I wanna be on LinkedIn and I wanna

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be on Twitter and I wanna have video and I wanna have audio and I wanna have

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text and I have all these formats and I have all this material, all this content

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that would be more of a commitment.

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And it's moving you along.

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That path towards a branded experience.

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And the branded experience is just enveloping the customer in you,

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everything that is you and your world and bringing them into that world.

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What

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do you think, Jen?

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I think that's absolutely true.

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I think that, and it is a process, as, and part of it too, is if you are an

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entrepreneur and you start creating content are you becoming a content

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entrepreneur or are you a hobby creator?

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And I went on a journey like this, where I had my consulting business.

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I started creating content cuz I wanted to, not because

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I had some big master plan.

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I don't recommend this necessarily as business tactic.

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Okay.

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But when the women conquer business show started, I just thought it would be.

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And thought I would have a good time and I did, but it was not

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part of any sort of strategy.

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This was before podcasting was what it is today was just a good thing to do.

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It seemed fun.

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And.

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Then I just realized I really enjoyed it.

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So it started, I started moving through this cycle that you're talking about

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all the while, continuing to create, and coach and be a business strategist

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and marketer at the same time.

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So I started committing slowly to make it a little bit more central to my business.

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And now, that it's.

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It's monetized, the money I spend on the podcast is it's it's taken care

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of because it's, that's why I have all these toys and stuff is because

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it's paid for by, by the monetization revenue streams that I have for it.

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That's right.

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That's right.

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So this slide is from the tilt and they talked about the top channels that content

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creators use to reach their audiences.

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And of course the number one is social media.

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And again, that's a really good place to start, but remember that's rented and

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you don't have a lot of control over it.

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Then the next one is an email newsletter, so that.

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Awesome.

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That's exactly what you wanna get going is getting those people from social media

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to subscribing to your email newsletter, because now they're on your email

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list and you can have that one-on-one conversation with them through email.

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The other thing about email versus social media is that it's, before we

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get onto the blog, the email, when you want somebody to do something

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like buy something or read some, read something, watch you listen to you.

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People social media's kind of more to be social, right?

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So the email newsletter is where people go and expect to have

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some sort of transaction happen.

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That's why they're letting you into their inbox.

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That's why they've subscribed.

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So as a more transactional space, you need to take advantage of that.

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And if you're not doing it, which as many of I wasn't, when we

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started doing this show again in.

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Last winter then, it changes things when you start talking about it and it

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helps boost things like listeners and reviewers and things like that when

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you're really sharing what it is that you're doing, because most people don't

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see what you're doing on social media.

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And I have a really good friend again, he's got more than 2

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million followers on TikTok.

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He's got like close to 10,000, I think around 10,000 on YouTube.

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And I asked him I'm.

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Do you have an email list?

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Do you have a newsletter?

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No.

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Why not?

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I don't really like reading newsletters.

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I'm like, it's not about you.

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well, and it's also people that really wanna

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hear from you.

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And it's also to your point, you made earlier about.

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Algorithms and the rented space and stuff like it could all change

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and those people could go away.

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You don't own your followers.

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So it's not like a space that you own, not that you ever own your followers,

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but you can't, it's not a list.

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You can't just pick up that list of people and say, now I'm going over here.

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But people who really wanna engage with you, people who really wanna learn from

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you, people who wanna listen to you.

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They subscribe and then wherever you go, they will continue to follow you.

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And that's why I tell a lot of people to make sure you're asking

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people to, to subscribe to.

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Email list on social media and a lot of people don't do it, even though it works.

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Yeah.

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And part of his issue is that on TikTok because he is on TikTok, he has a lot of

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young people maybe even, under 18 who are watching him and he's concerned about.

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Getting them on an email list and then him having this email list

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of young people that are under 18.

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And I said then you just have to put some kind of a disclaimer because he

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does that on the rest of his show.

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He talks about, if you're under 18, if you're gonna send me anything, make

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sure you get your parents permission and blah, blah, blah, cuz he's always.

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Really good about that.

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And I said, just do that again, but you've got to have that email list.

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If you're not, if you don't have any control over your, who's in your, who's in

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your audience and how you can communicate with them then what have you got?

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Yeah.

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And and when you look at this is what's so interesting about this graphic.

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You notice that millennials and gen Z creators they don't use

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blogs or email newsletters, or even like online events and stuff.

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They have a different approach.

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But what I don't see is how.

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How they are capturing like a customer list from, a group of followers

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from the way that they're doing it.

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If you teach online or in-person events, you can collect names and email addresses,

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you know, ways to contact people later.

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If you have a blog on a website that has like a way for people to subscribe.

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An email newsletter, those kinds of things.

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You have ways that you can capture people's attention and

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then people who really like you can continue to follow you.

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But a lot, from looking at this, it just seems like people are like

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people in my generation don't email, cuz I've heard that, Gen Z and

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younger, they don't really do email.

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There has to be some way there has to be some way that you can reach out to people.

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And so that's the challenge.

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If you have a younger customer base is you still have to have some way that

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you can have your followers engage with you on a platform that you own

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so that if something happens, you're still gonna be able to reach out to.

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Yeah,

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and I think it's a performer mentality.

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Performers are used to, working with venues showing up and then whoever's in

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the audience is who they perform for.

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But when you become, a performer who has a following who has a fan base, then it's

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really important to be able to have some kind of a communication going on with

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your fan base outside of just showing up.

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Yeah.

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I follow all kinds of performers and I get emails from them.

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How else am I gonna know when they're speaking in my area?

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So yeah, you have to have a way to communicate with your followers

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so that they know what's going on.

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That's right.

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Let's move to the next slide.

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You also wanna think about multiple revenue streams.

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Now you're not gonna start off with this.

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, this is something you grow into multiple platforms being in for instance, right

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now we are on three Facebook pages, one is one LinkedIn page, two YouTube

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channels, and two Twitter accounts.

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A lot right now.

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We are multiple platforms and then.

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We take this material and we share it out in other places as well.

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I share it on my LinkedIn blog or my newsletter.

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Jen does the same and she also shares it out as social media posts.

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And funny thing is we're both in missing letters.

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So she puts it up there as curated content.

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And I.

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End up.

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Oh, do you sharing it that way?

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And I'm like, I got credits for it too that way.

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And it's my stuff.

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So it's pretty cool.

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Take advantage of the system so funny, right?

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Multiple platforms, multiple formats.

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That includes video audio.

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Text images using all of that medium to attract the attention of people who

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learn and consume in different ways and then multiple income opportunities.

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And that's your revenue streams.

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And we're gonna get more deeply into that.

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And Jen's gonna share some of her revenue

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streams with us.

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Yeah, I think that if we could go back to the previous slide if you

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can do that, when we're talking about multiple platforms, it's

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important to go, to talk about that.

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So when we were talking about multiple platforms we do social media, we do email

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marketing, we do a blog on our websites.

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We I have in the past done online events.

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I'm looking to launch a few in the coming months.

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I've done in-person events.

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I taught last night.

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to a group of people I teach all the time.

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I have a podcast.

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There are a few things that I haven't done.

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But I have been a blogger I've blogged on other people's sites at times.

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So you have to, when you look at this for like how this works,

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you have to look at this and be like, oh, that's a lot of work.

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Or if you're like, oh, this looks interesting.

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That's maybe a hint that you're gonna move into being more of a creator entrepreneur.

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And you also have to look at this as This is what it looks like when

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you start to go and look at multiple channels and multiple different streams.

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Anyway, sorry, not to back this up a slide but this is really

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fundamentally what we're talking about.

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And you can

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see print media, and I count that as also having books available

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on Amazon for people to buy.

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Yeah.

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Can have a grab my book here.

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They can have a book in their hands that you wrote, and you can take this when

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you go to teach in person and speak at conferences and you can sell these in

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the back of the room, and you can, see, I am an author, I wrote this and you

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have a lot of authority because of that.

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And it sets you up that content entrepreneur,

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it certainly gives you a lot of gravitas to, to stand there and say, I've done

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this, I've taken all of my thoughts about a certain topic and put them out there and

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that's another way of doing it, not just for the sales that you can make, but it

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shows commitment for what you're doing when you take the time to write a book.

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That's right.

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All of which is to say you have so many options when it comes to revenue

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streams, when it comes to what these channels look like for you that you

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don't need to really feel limited at all.

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Cause we're not even talking about web three is a whole separate thing.

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Like where you can go out and own your channels and have

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NFTs and all kinds of stuff.

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That's a whole separate thing.

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So there's like a whole.

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Range of the quote unquote right way to do it.

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And that's what you really have to think about is where are your

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people, how am I gonna do it?

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How am I gonna create a place that I own?

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That's right, and these bubbles that we're showing right now we've talked about this

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Jen and I both Our biggest bubble is the consulting and coaching . And then

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second biggest is the online courses and digital products, which is a great revenue

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stream, but it takes time to build those.

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And but once they're up and running, then you can just, keep that

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going and bringing in more money.

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And yeah.

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What are some of your other big revenue streams?

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So I would say that, it's so funny to look at these bubbles.

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I actually moved the, moved it bigger.

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So it's in front of me so I can I can look at it, because certainly

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when I've run live events or online events, those were mostly to drive

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people into coaching and consulting.

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It wasn't so much to have them go into anything else.

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I'm assuming that books are one of your big bubbles, one of my big ones,

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and we were trying to, it was so funny before the show, we were trying to

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figure out where it fits into this.

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Bubble structure.

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For those of you who are listening, it's a list with percentages and we'll put

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this in the show notes of things like paid content versus sponsored content

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donations, coaches, and consulting, barters, memberships, books, advertising.

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There's so many different options on here in terms of how

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you can monetize your content.

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And then what they've done is the size of the bubble is based on, how big.

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That little slice of the pie is among the, I believe 1000 content

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creators or content entrepreneurs that they interviewed for this.

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And the two biggest bubbles are consulting and coaching.

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What I have, and we decided, I believe that it was a paid content

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subscription, but what it, what I have that has grown as time went on is

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it's a subscription that I don't run.

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so part of me looks at it is since it's not something I own,

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it could go away at any time.

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And I view it like that.

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So I don't use it as a, even though it is five figures, I don't

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necessarily view it as something that is central to my business.

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Cause I also feel like it could go away.

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I love that I have it.

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And because I don't own that company, it's not something that I.

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Just, latch my whole business onto, so the way it works and

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this is the way that it works.

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I think a lot with content creators is you have to know when to say no.

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And you have to know when to say yes.

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So when I started my podcast, I was approached by a company.

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That wanted to repurpose shows.

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And this was like four years ago and I thought, why not?

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I'll take a flyer on this.

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So if you create content that appeals, so these are corporate.

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These are corporate people that use them as lessons.

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And it's the baseline for what we've created over Epiphany Courses, which

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is these are short 20 minute or less audio lessons that I've created and

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it's sold on a whole other platform.

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That people pay a lot of money for their corporate their corporations

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and their employees to learn.

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And then I've taken them because it's non exclusive.

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And I still own the content and I've placed them on epiphany

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courses to help small business owners, because it translates

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very well into both environments.

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But before that content subscription that I don't own,

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I get 12% of every listen and.

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I don't unfortunately have all the stats, so I don't know what's most

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popular or anything like that, but I make a tidy sum off of content

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that somebody else is advertising.

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Somebody else is running.

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And it's a small bubble on this tilt thing, because I think it's very unusual.

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But what I would say is if you are in like teaching and you do how

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to, which is a lot of what I do.

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Or you have some content that's really unique.

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Sometimes you just have to find if there's another place that it

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could be, that it could be sold.

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So this is completely like when people talk about passive income

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this is about the most passive income that it could possibly be.

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I don't have to market it.

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All I had to do was edit it to their specifications way back years ago.

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And.

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The amount of money I make from it continues to grow because the longer it's

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there, the more people seem to find it and listen to it on this other platform.

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So it doesn't have to be hard.

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It doesn't have to be a lot of work.

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It just means you have to find the thing that makes the most sense

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for what it is that you're creating.

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So I would say that for me.

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Yeah.

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Certainly coaching and consulting is my biggest, output from all

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the creative work that I do.

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I also get speaker fees.

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And then, like I said, I also have this paid content subscription on a platform.

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I don't own that I'm also building my own platform.

Speaker:

, that'll be a membership, which is another one on here.

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One of the things that I think is really interesting.

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So one of the marketers that I follow a lot, his name is mark Schaefer.

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He has a social, I believe it's a social token that you can get.

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And one of, part of my pushback on, NFTs and crypto and everything is that

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it's really bad for the environment.

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So he found a place where it's not bad for the environment and I was

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like now I can't, I don't have that.

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I no longer have that complaint.

Speaker:

But so I, it's interesting that as much as I see NFTs and social tokens

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and crypto web three, that I see all of this talked about everywhere.

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They are actually a very tiny portion of how people.

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Monetize their content, at least at this time.

Speaker:

The interesting thing about what the tilt said is that content

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creators need to be more aware of it.

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And I would agree with that.

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Anyway, it's just really interesting to me.

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I think you have to do more than one of these to be successful.

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What do you think?

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Oh, absolutely.

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Multiple revenue streams are going to support you.

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When one is not working one is, Being in affected by what's going on in the world

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and say, COVID is going on in the world.

Speaker:

And suddenly you can't do speaking in person anymore.

Speaker:

So something else needs to take over your online events needs to take over.

Speaker:

You need to have those multiple streams so that you can.

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Be more resilient and pivot and, adapt as needed so that you're

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always bringing in income.

Speaker:

And you'll find those that work best for you that are more reliable or more

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predictable, such as a membership.

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Once you've built that you might have a monthly.

Speaker:

Amount that you can pretty much depend upon and then you'll

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know, okay, here's my budget.

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And now I know how much I can spend on advertising and things of that nature.

Speaker:

So it's a place that you have to get to.

Speaker:

It takes some time but it is something that you can look forward to doing.

Speaker:

So what are the biggest ones for you?

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You have different monetization than I do because you have a following on.

Speaker:

I've noticed now that Twitter has super followers, so they're doing the

Speaker:

same thing now where you can have, you can super follow someone on Twitter.

Speaker:

My friend Bridget is doing this Bridget Willard where you can

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be a super follower and paid

Speaker:

three bucks a month and get exclusive content.

Speaker:

You do something similar on YouTube.

Speaker:

Is that right where you have super it's not, is it super?

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We have, what is it?

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Super follower, super chat.

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We have

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a well, super chat is just for anybody who wants to come in.

Speaker:

Once you have a thousand.

Speaker:

Subscribers in 4,000 watch hours during the year, you can monetize

Speaker:

your channel in one of those perks is that you can offer super chat.

Speaker:

People can give you money during your live stream, or they have super thanks, which

Speaker:

is they can go to a past video and they can give you money on that video because

Speaker:

they just wanna support you and your, and whatever it is that you're doing.

Speaker:

That's more of a donation type of a thing, and then there's memberships.

Speaker:

YouTube does offer a membership, which we've tried and we just,

Speaker:

haven't been really happy with the, they take 30% of everything a model.

Speaker:

So we're trying to build our own membership separate from that.

Speaker:

And you do this as you learn, you go and One of the things that you were

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talking about now, we don't make the money that you do at by selling

Speaker:

the content on another platform.

Speaker:

But we have done Udemy courses and we have had many people go through

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our live streaming, Udemy course, and we make a little bit of money

Speaker:

off of that, but we have known people who have had many courses on Udemy.

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They make a good, a good living off of it.

Speaker:

So it is possible to do, but you have to keep at

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it.

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Yeah.

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You have to keep at it.

Speaker:

And the, then one of the reasons why I like ghosts so much is they don't

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take 30% off of your membership.

Speaker:

So there's just a lot of different ways to slice and dice this again.

Speaker:

There's no one right way.

Speaker:

I do love this super follow.

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I love the super chat.

Speaker:

I, it's, I'm looking at these bubbles and I'm like, I don't, oh, donations are 9%.

Speaker:

So I'm in a ghost creator.

Speaker:

Community.

Speaker:

And it's amazing.

Speaker:

There's like these large publications on there.

Speaker:

So these are people who are making a lot of money off of content.

Speaker:

, some of it's blogs, some of it videos, not a ton of podcasters

Speaker:

on there, and some of them make tons of money on donations alone.

Speaker:

And I need to dig into that a little bit deeper.

Speaker:

Cause I don't know anybody that just off of.

Speaker:

I've heard about it on Patreon.

Speaker:

You could use ghost as a Patreon, where they won't take the 30% because it's just

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not how it, they don't do it that way.

Speaker:

, and you own your own website on Ghost.

Speaker:

It's a lot like WordPress in that regard.

Speaker:

And you can do donations through Ghost for that.

Speaker:

But it's interesting because some people are like, oh, donations, nobody does that.

Speaker:

And then other people are like, no, it really works.

Speaker:

So I've always been intrigued by the idea of donations either through

Speaker:

YouTube or, have you gotten a lot of that where people go back and they

Speaker:

watch old content and they donate.

Speaker:

Not so much past ones, it's more live ones.

Speaker:

It's in the moment people get excited.

Speaker:

We have gotten contributions anywhere from 99 cents, all

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the way up to $500, one time.

Speaker:

So it, they're really excited about whatever it is you're

Speaker:

talking about and they're, and they wanna, it's amazing supporting.

Speaker:

That thing,

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I guess my thing, and one of the things that was interesting about

Speaker:

this tilt survey is, they said that like people only spend 40% of their

Speaker:

time creating content and they spend the rest of the time, like really

Speaker:

promoting these monetization channels.

Speaker:

And one of the reasons why I have never pursued like a super follow,

Speaker:

for example, like on Twitter is like the idea of creating even more content

Speaker:

is a little overwhelming for me.

Speaker:

Yeah.

Speaker:

Then I have these people who are paying me every month and I have to

Speaker:

have something else that's special.

Speaker:

But I know that's a thing that like people love that, Patreon is very successful.

Speaker:

Some people can really make it work by creating more.

Speaker:

How do you feel about that?

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Doing, doing that special membership special subscription where you create.

Speaker:

I I had that friend that I keep telling you about, he does this and he's got the

Speaker:

different levels of membership and he uses the YouTube membership to do that.

Speaker:

And he does have to create that additional now for him.

Speaker:

That's okay, because he's doing it anyways.

Speaker:

For instance, he's going to be recording an album and he's going to do a video

Speaker:

of them recording the album, and that's going to be content for the membership.

Speaker:

Some of these things that he's.

Speaker:

Anyway, he's just recording it and giving it to the membership.

Speaker:

So if you're doing it anyway, as part of your business part is

Speaker:

what you do, then that's great.

Speaker:

Go ahead and offer that.

Speaker:

But if it's going to be an imposition to go out and do that extra stuff for

Speaker:

me would, for me we don't offer anything extra to our YouTube membership.

Speaker:

If they wanna join money.

Speaker:

That's a donation basically.

Speaker:

Go ahead.

Speaker:

That's how I look at it is if it's something you're doing.

Speaker:

Video it stick it in there for the members.

Speaker:

Yeah.

Speaker:

Yeah.

Speaker:

I think that, for example, super follow, it really makes sense for

Speaker:

my friend Bridget Willard, because she does, she talks about Twitter.

Speaker:

she's on Twitter.

Speaker:

She's a thought leader in Twitter.

Speaker:

And so why wouldn't people pay to learn more about Twitter from her?

Speaker:

She's doing information that everybody else is.

Speaker:

So she's offering something special, so it makes a lot of sense.

Speaker:

So to me, and to me, that's when.

Speaker:

Those types of subscriptions really make sense.

Speaker:

That's just my take on that, but I love this.

Speaker:

I love these monetization channels.

Speaker:

It's given me a lot to really think about in my own business.

Speaker:

And hopefully it's given everybody out there something

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to really think about as well.

Speaker:

Let's get through the rest of the slides real quick, sorry.

Speaker:

Time, investment, right?

Speaker:

Time investment.

Speaker:

So a hobby doesn't take that much time.

Speaker:

A side gig takes a little more time.

Speaker:

Part-time a little more time and full time all of your time.

Speaker:

So the more time you invest upfront, the quicker you're gonna see results.

Speaker:

And that also applies to, how long is it gonna take?

Speaker:

How many months is it gonna take to get to where you wanna.

Speaker:

There are different levels of financial maturity, more than 50%

Speaker:

of full-time content creators are supporting at least one person.

Speaker:

So if you're going to go full-time, you are going to be able to have a business

Speaker:

supporting you a lot sooner than if it's just, if you can only dedicate it.

Speaker:

Enough time to it to be a hobby or a side gig.

Speaker:

So again, we're showing another slide talking about pre-revenue, which is not

Speaker:

earning money yet early revenue, which earns money, but not enough to support

Speaker:

one person, a solopreneur supports one person and an entrepreneur substantial

Speaker:

money and supports multiple people.

Speaker:

And that's that.

Speaker:

That meant, what do you call that?

Speaker:

so the trajectory for like how things work, and so I love this because

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I feel like it really dispels the myth that only a handful of people

Speaker:

make money by creating content.

Speaker:

That's right.

Speaker:

Because the people who are in pre-revenue or in early revenue, it's a side

Speaker:

gig and they're still making some.

Speaker:

And so what it really does is it says, look, there are a lot of people out there.

Speaker:

You don't have to be super famous to support yourself, creating

Speaker:

content and monetizing it a

Speaker:

hundred true fans, a thousand true fans.

Speaker:

You work your way,

Speaker:

work your way up.

Speaker:

You start small and you just keep creating things that people enjoy

Speaker:

and want to learn more about.

Speaker:

And I think that's, what's really important here is we've

Speaker:

given you a lot of different options for how you can monetize.

Speaker:

And now we're telling you.

Speaker:

More than 50% of full time content creators are supporting

Speaker:

at least one person that's right.

Speaker:

So you can do this.

Speaker:

You wanna commit.

Speaker:

To your goals as a content entrepreneur, you need to build a system.

Speaker:

And that could be as simple as on Mondays.

Speaker:

I do these two things on Tuesday.

Speaker:

I do these two things on Wednesday.

Speaker:

I do a live show on Thursday.

Speaker:

I do this, having that mapped out and that you commit to doing

Speaker:

those things every single week diversify your revenue streams.

Speaker:

If.

Speaker:

You want to bring in advertising from YouTube because you've

Speaker:

hit monetization levels.

Speaker:

, that's one revenue stream that you can work on if you have things that you're.

Speaker:

Selling online digital products.

Speaker:

That's another revenue stream.

Speaker:

If you're speaking fees, if you're doing coaching, tho all those

Speaker:

revenue streams you wanna diversify, start thinking about, okay, I make,

Speaker:

I'm solid on coaching right now.

Speaker:

So what else can I create to bring in another stream?

Speaker:

Own your own assets.

Speaker:

That's why after meeting Jen, I learned about app Sumo and buying things that we

Speaker:

used to subscribe to and now we own these things owning our own email list, owning

Speaker:

our website, all those things that you have control over owning those assets.

Speaker:

And that is a thing that you wanna shoot for establishing your brand,

Speaker:

making sure that you strengthen your brand every time you appear every time.

Speaker:

You put out content, you're strengthening your brand and treat

Speaker:

it as a serious business because the sooner you do that, the sooner you

Speaker:

really commit to it, the sooner you're gonna start seeing a revenue come in

Speaker:

and it is a serious business making content takes time.

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And if you love doing it and you realize that it takes a long time to edit the

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videos and everything, it is a serious.

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It is serious.

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I wanna like circle back to diversifying your revenue streams because I have

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to tell you there actually was a time when I relied on my, residuals

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or royalties to help support me.

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Because when the pandemic hit, I'm a small business marketing person.

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like I had nobody.

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Like I lost everybody.

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So I had to rely on that and I created like a whole bunch of content, and now

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I'm reaping the benefits of that, but I was like, okay, I have nothing else.

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What's something that I can do.

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And I'm like, I can make lessons , and so I just devoted

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like so much of my time to that.

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And so that's really the beauty of it is when one thing dries

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up for one reason or another.

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then, something else you can do something else.

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It gives you all of these options.

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And I think that's, what's so important is it gives you that backup plan.

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And I think you mentioned that before but I wanted to give like

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a concrete real example of that.

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Yeah.

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Yeah.

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That's awesome.

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So how long does it take to build a successful content business?

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Launch to earned first dollar on average, take six and a half months.

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And in order to get there, you're gonna need to know who's your target audience.

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What's their biggest problem.

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How do you solve that problem?

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That's what a business owner knows about their audience and to be that

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business owner to be serious, whether you're just talking about Weird Al

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Yankovic or whether you're, giving advice on how to go to a concert and

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things of that nature, whatever it is, you need to know who you're talking to.

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What's their biggest problem.

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And how can you solve that problem?

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And that's how you get to your first earned dollar in six and a half months.

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Then in 17 months, you, on average people who are content, entrepreneurs

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are supporting one person.

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So if you have a partnership, you might be like only half supported, but that's okay.

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If it's what keeps you going.

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Then a partnership's the way to go.

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And then at 25 months hired help for the first time you maybe get a VA or

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you hired somebody on FIverr or whatever it is, you're spending a little bit

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of money because you are making enough money to feel comfortable doing that.

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. What do you think

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anything?

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I think that this is all great.

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I think that it shows though, that you do have to be doing other things, I

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this may be a longer timeline for people who aren't married or on their own.

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Yeah.

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Because you, you're not gonna be able to do content creation full time.

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Like you'll, you're gonna have to side gig it, which it.

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Is something that is fine.

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A lot of us side gig it, and then as it grows and grows, then we transition more

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into being full-time content creators.

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It's a process.

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So don't look at these months and think, oh, I'm successful or I'm not success

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is a different timeline for everybody.

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These are averages.

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That's right.

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Those are averages.

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And it's really cool because your first dollar might just be somebody donated

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to you, somebody put money into your Patreon or in some way maybe they

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sent you something through the mail.

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That was cool.

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Maybe it wasn't even a dollar.

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Maybe it was a gift of some kind that you could really use.

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That was the amount of that gift was money.

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You didn't have to spend.

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And that's happened.

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I . I can tell you how many things people sent me jewelry and other things

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liquor and stuff, that that they sent.

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Woo.

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You got BOOZE on YouTube?

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Oh yeah, we did.

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We got all kinds of things.

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We even got invited to spend a weekend at somebody's really fancy.

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They call it a cabin, but it's like on the top of this hill, it looks

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down over this lake and it's just.

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Gorgeous.

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It's a mansion, we're like, so things like that can happen because you are

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a star on YouTube or whatever because you're a content entrepreneur and

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people look at look to you as a leader.

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Yeah, a lot of great things can happen and not just money.

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It's.

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It's awesome.

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It's a lot of other stuff going on as well.

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That's awesome.

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So if you like today's lesson, then join the waiting list for the upcoming

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livecast live livecast lifestyle course that Shelley is putting together.

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She'll put the link, we'll put it in the show notes and then we'll also put it in

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the chat and you can also subscribe to the women conquer business newsletter.

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Every week I send out one actionable tip one strategy for your marketing.

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As a small business owner, you can pursue.

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I think we're starting to run outta time.

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So let's skip tweaks of the week, since both of us were about it.

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And we can come back to those later.

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Let's move ahead to the inspirational nugget.

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All

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right.

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Inspiration's inspiration comes from Seneca's borrow letters and he said,

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this is what you should teach me.

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How to be like Odious, how to love my country, wife, and father, and how even

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after suffering shipwreck, I might keep sailing on course to those honorable ends.

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If you got everything else wrong from the Odyssey, but you left understanding the

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importance of perseverance, the dangers of hubris, the risks of temptation and

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distraction, then you really learn.

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We have to, I got really excited.

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I thought we were gonna talk about the Illiad and Odyssey today.

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and

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Odeyseus tell us more about what the Odyssey means to.

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So it's really about going on a big journey and staying the course, and

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there's all kinds of perseverance that happens along the way.

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That's right.

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And I think it's really important to really show that

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determination of perseverance.

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That's like the next question is can I show Odysseus-like

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determination of perseverance?

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And it really is the case.

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I think for what we're talking about today, which is you could be

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talking to no one for a long time.

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But if you just keep going, the people will learn, if you spend the

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time, getting people out there and understanding what it is that you do.

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That's

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right.

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If you're trying to truly help people, if your focus is on the person behind

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the other side of that camera It's gonna happen because that's how

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the, that's how the universe works.

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You put money in the big vending machine of life and you're gonna

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get something back out again.

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Yeah.

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Yeah.

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I like it.

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Also, if you get those content.

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Creation systems in place.

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Every Monday, I do this every Tuesday.

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I do this every Wednesday.

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I do this and you stay on track with those, just that simple system.

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Then when things come up, like my mom had a stroke and I had to go.

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Help her out to transition back home.

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I was still able to keep up with all of my work because I had a simple system.

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So build your system, build your support network so that when those

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things happen and they always do things always Now that's shipwreck.

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Can you get back on track?

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If you have that system, if you have that support network,

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you can get back on track.

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I had Jen stepped up, she took care of some things that

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normally I would be doing.

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Toby stepped up.

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He took care of the newsletter and some other things so that I

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was able to focus on being with my family and still keep going.

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We could stay on track together.

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That's that support network and that system that we had in place.

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It's

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so important.

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It's so important.

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Yeah.

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Oh, thank you, Shelley.

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Yeah.

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What a great show.

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Thanks for leading us through this whole content creation

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process and sending over The Tilt.

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It's our lives.

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Isn't it?

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Yeah, it's what we're doing, man.

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This is our lives.

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This is what we do.

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So yeah, this is our topic, man.

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If you've got any questions we're here, we're ready to help you to, to

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follow along in our, our faltering footsteps and help you stay away

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from the shoals and the shipwrecks.

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Have a great week, everybody.

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Thank you for listening and watching the Women Conquer Business Show.

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Thank you for joining the Women Conquer Business podcast hosted by Shelley

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Carney and Jen McFarland, please subscribe and leave a comment or

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question regarding your most challenging content creation or business problem.

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Then share this podcast with family and friends so they can find the

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support they need to expand their brand and share their message with the.

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Check the show notes for links to valuable resources and come back again next week.

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