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Are you really a producer? How anything you do is a currency.

Discussion in 'The Unscripted Entrepreneurial Mind' started by Peteee72, Apr 24, 2018.

  1. Peteee72
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    Peteee72 New Contributor Read Millionaire Fastlane

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    Having read TMF and Unscripted, one of the biggest takeaways I've had has been the producer/consumer dichotomy. I lay in bed one night after reading, and staring at the ceiling, I asked myself.

    "Are you really a producer?"

    Now all of you will know that MJ directed this towards money, and how going into debt is promising future production, and that if you go into debt you are spending more money than you actually have, and promising to make up for it later.

    I am proud to say that I'm not in any debt, though not unscripted yet. So yes, technically I am an excess producer in money, and working on scaling this excess.

    But what about the other aspects of your life? Are you in an excess or a deficit?

    Let's take Instagram for an example, just because this is my personal vice as a photographer. If I go on Instagram right now, there is a seemingly endless amount of content I can consume, and I could spend all day "double tapping" away, and giving away likes.

    But. What if I had a "Like" bank account? Would I be in an excess or a deficit?

    Would I be able to spend as much as I am?

    In this crazy world where likes were a physical currency, I would only be able to spend as much as I received. Yes, this means that if I only got 20 likes on that one selfie I posted with a generic filter and no hashtags, guess what? I can only "like" (read "consume") 20 photos. That would mean I'd get about 2 minutes of entertainment from Instagram before I would be broke. Forcing me to post another photo, to get another 20 value vouchers, allowing 2 more minutes of self absorbed feed-scrolling.

    Now, what if I really put effort into my Instagram account, posted consistently, and invested time into building a following of loyal fans, and accumulated an average like count of 10000 per post? Well then. I'd be able to scroll through for the entire day, every day, not worrying about ever going broke. This would be the equivalent of having a "Fastlane" Instagram, and living in excess production.

    Now, I only used Instagram as an example, but I challenge you to apply this to everything. Spend all day on facebook? Make sure you produce more than you consume. Like Youtube binges? You can only view as many videos as you have received views on your own videos. Like Netflix or Game Of Thrones? Shame. Until you've got your own show and views on Netflix, you're broke and can't get it. The Fastlane Forum? Why do you think I'm sharing this thread and my crazy mindset? I'm in a DEEP deficit on this forum, and I intend on correcting it.

    Not only does this make you realize how much you ACTUALLY consume with your most valuable currency (your time. duh.), but it also shows you that time invested is not equal to the return. If you post one video on youtube, and it gets a million views, you're most likely going to be in excess for the rest of your life! Off of one video.

    Sound similar to a liquidation event of a Fastlane business? Hmmm.

    Thanks for staying with me through my crazy rant.

    - Pete
     
    TYLER WALL, Sagemoney, Mr.C and 5 others like this.
  2. Ayanle Farah
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    Ayanle Farah Bronze Contributor Speedway Pass

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    I'm in, this seems like an awesome challenge, let's produce instead of consume.

    Right now I'm producing by making this post while the person reading it is consuming.

    I'll only consume in proportion to how many likes I get, 2 likes? Well I'll consume two posts.
     
    Mr.C, papi016, Paolo Rizzo and 2 others like this.
  3. Kid
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    Kid Bronze Contributor Speedway Pass

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    Peteee72 likes this.
  4. Paolo Rizzo
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    Paolo Rizzo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Great post. Rep Transferred ++
     
    Peteee72 likes this.
  5. Peteee72
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    Peteee72 New Contributor Read Millionaire Fastlane

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    You could look at it like that, but I believe that's slowlane. You'll benefit from the likes that your individual post got, whereas I'll benefit from ALL of the likes in the thread.

    WHY?

    Simple. It's my thread.

    It's the same in business. If you sell on FBA, you might get the revenue that your sales generate, but guess what, Amazon still gets more. Why? Because they are the platform, and they get a portion of EVERY sale that goes through it.

    Think about CENTS, it's all about control.

    SO. What have I done about this perception?

    Simple, I've been creating more and consuming less. I've spent more time editing videos than watching, and I've made some of my best content since. I've dived deeper into LEARNING about video and photo, and putting that into ACTION, than I have just mindlessly consuming for entertainment, and wasting my time.

    It's not a lot, and it hasn't really effected me monetarily (yet), but it's a start.
    Baby steps.
     
  6. Ayanle Farah
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    Ayanle Farah Bronze Contributor Speedway Pass

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    True but it's not really slowlane, slowlane imo would be mindlessly consuming and not producing at all.
     
    Peteee72 likes this.
  7. TYLER WALL
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    TYLER WALL Contributor Read Millionaire Fastlane

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    I love this idea. Apply it anywhere and everywhere!

    I've fallen into my own trap of mindlessly scrolling when I have a massive amount of work to do (content creation). This is ultimately going to lead me to where I want to go, plus some other areas I can't even fathom yet. Being aware of my debt/deficit is a sure way to make sure I don't go broke (time/energy).

    Thanks again. Hitting you with them reps, homie.
     
    Peteee72 likes this.
  8. Peteee72
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    Peteee72 New Contributor Read Millionaire Fastlane

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    Thanks for the rep Tyler! Awesome to see another content creator on here!

    I love it, but I'm very conscious of what MJ says about following your passion in this regard... I view photography/video as a self funding hobby at the moment, and a way to experience new things. If I get offered a job that offers me an amazing experience, regardless of pay, I'll do it, just for the experience and because I love it.

    If I get offered a job that I don't enjoy, even with a big pay, I won't. Simply because it would be too comfortable to get into fulltime content creation, and IMO it's just a glorified job.

    Edit: I am however, building my business alongside this industry, as in I am creating a camera accessories brand. This is to use my industry knowledge to my advantage, and because I'm trying to solve a problem I particularly have.

    I do find my creative skills to be invaluable with regard to social. I know I can make high-quality photos/videos to promote my product, and I know the ins and outs of Instagram just through my personal use.
     
    Last edited: May 6, 2018

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