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Can you use multiple business models in the same business?

Discussion in 'Ideas, Needs, Concept Feedback' started by GaiaGoddess, Nov 12, 2018.

  1. GaiaGoddess
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    Why is it so rare to find someone who has more than one business model? It seems like everyone is either a blogger, an email marketer, a website creator, a youtube celebrity, an author, a course creator, etc. but I rarely hear of any of these overlapping. I know a little about what black hat tactics are and one of them is posting duplicate content so is that the reason why everyone only does one business model? What if it's your own content on every platform?

    I want to do email marketing because I want a list so I can communicate with them and share content. But I also want to create online courses using that same content. And I also want to have a youtube channel sharing that same content. And I also want to have a website where I organize resources all in one place. And I also want to have a blog and post my articles on Facebook. I read somewhere recently where someone said to be successful, you have to "be everywhere". So why is nobody everywhere? Every time I research a successful entrepreneur, they limit themselves to only one or two things. I know it would be very time consuming to do all the ones I mentioned, but if you're using the same content, it would only get easier to add more income streams. Would that be considered black hat to use the same content for all of those things, even if you owned the content?
     
  2. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Hey GG,

    Aren't you jumping the gun? Yes it makes total sense to market in several areas. Website, Email List, Google, Twitter, Facebook, Instagram. Even Youtube if appropriate. However you have to have something to market first. This is the sort of thing to focus on when you have a viable mature business that is bringing in solid revenue. These extra marketing platforms are for getting to a wider audience to increase your profits when your growth stagnates. It's not what you want to do from the off.

    You have probably read that FOCUS stands for 'Follow One Course Until Successful' too.

    I promise you, you will never get anywhere until you learn to focus on one thing. Your ONE THING seems to be a course. Ignore, your inner voice that says you aren't good enough. Ignore people saying you have to have a relevant college degree to be an expert. This is just BS and holding you back. Just Do It.

    Pick your subject. Research it, make it, find out where you can most appropriately put it in front of your avitar then market it using that medium. Forget everything else. Master that medium. Make that course successful in that marketplace to the small segment of humanity you can help the most.

    When your conversion rate is as high as you can achieve, and you have good profitability then you can hire expertise in another marketing platform to increase your Internet footprint, and therefore profits. This outsourcing to experts will leave you time to write articles for your website and emails for the list your sales have built. But this is down the line. A bare minimum of 9 months to a year from now IF you get your act together, start now and FOCUS (follow ONE COURSE until successful).

    Here is another saying for you:

    "The best time to plant a tree was 20 years ago. The second best time is now."

    Don't let the grass grow under your feet.
    ;)
     
  3. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    You should probably do one of them first, then worry about the rest after.
     
  4. GaiaGoddess
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    Well I do have something, or at least the content. My next step is to start building an audience which I could do through all these platforms. I could literally start in 5 minutes if I just knew if it was ok to put my content in all of these platforms at once. In one day I could post some YouTube videos, write a couple of articles and post them on a website, Facebook, Twitter, and get an email marketing system set up. The content is here, I just need to know which ways to share it. I could probably even have a course made in 3 days (from my research, that is the quickest time I've seen). But I don't want to waste my time on any one platform if it isn't acceptable to post the same stuff on all of them.

    Oh i'm not worried about not being an expert, I have plenty of content, I am ready to do this NOW. I know the focus thing is true for your niche, I do have my niche that I'm going to focus on, I just need to know if I can share that information in various platforms. Someone on another forum sent me an article about duplicate content, I just haven't had time to read it yet. I think that will answer my question best.

    Oh I have the subject, that is why I'm asking where I can share the content because that is the point I'm at now. I feel it will be most helpful everywhere though.
     
  5. GaiaGoddess
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    I can realistically do many first, in the same day. I don't have a job so I have 18 hours a day to work on this. I dont want to spend an hour setting up one thing and then twiddling my thumbs the rest of the day, I might as well keep the momentum going since I have the time and the content already.
     
  6. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    You should try it and see how it goes. Every platform is different. If you make a long video on Youtube, you can't just post it on Instagram. You'll want a shorter version. The thumbnail on Youtube will be different than the one on Facebook and different than the one on Instagram. Your email sent out copy will be different than the website or your Facebook post. You can't just copy and paste the same content to all channels because the audience is different if you want to maximize each one.

    It's rare that a someone has 1M subscribers on youtube, email list, 500k followers on IG and twitter AND FB. Most people pick one or two as their main channel to monetize.

    You should really ask yourself the question you asked, "Why is it so rare to find someone who has more than one business model?"
     
  7. Paladin
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    Paladin Bronze Contributor FASTLANE INSIDER Speedway Pass

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    While each platform is awesome, each is also unique. The first step is to find where your audience spends most of their time. The majority of my following is 45-65 and tends to bend upwards not down. Almost nobody under forty years old follows me. They spend more time on Facebook than they do on Instagram or Twitter, so that's where I invest my time.

    Knowing my target demo also allows me to invest my time efficiently. The majority of my followers prefer to communicate with me through email. It's their first choice and I get a lot of emails every day.

    Like other people have said before, it's best to build a business linearly. You can start out trying all the platforms to see what works best for you, but you'll find that specialists always outperform generalists. Each platform has different rules and people respond to content differently.

    As I've grown my business, I've added one platform at a time to meet the needs of my audience. If you're just starting out, feel free to put content on each platform and see where you get some traction. When that happens, start focusing there.

    Everything you want to build is part of a great business, but it's hard to build everything at once. Get really great at one thing and then add the next skill. This will be a much faster path to success than trying to learn and master ten platforms at once.
     
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  8. GaiaGoddess
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    Oh yeah I wouldn't be just copying and pasting, at least not the entire thing, I am sure I would edit and change stuff.

    Well I don't know why, I mean the goal of most entrepreneurs is to have a life of freedom so that should mean they have more time to earn more money so that is why I asked because I don't know why more people don't do this.
     
  9. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    As Paladin alluded to, it's just not efficient. Who's your main audience and where are they?
     
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  10. GaiaGoddess
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    My main audience is anyone interested in holistic natural health and they are everywhere. Any health niche is massive, it's one of the top 3. You can't throw a rock and not hit a huge audience that wants to learn about health. That is why I don't want to leave any money on the table by only narrowing down my audience to 1 platform. Youtube is the 2nd biggest search engine in the world, Facebook has 2 billion users, the online course market is over $200 billion and growing, 50% of all Pinterest users are earning at least $50k a year (good odds, and I dont even need 50k a year!), email marketing is a no brainer since every business needs a list, and ebooks are a good source of passive income. So it just seems foolish to not try all of them, maybe I will see where the top 2 or 3 are and just use those. Or whichever ones are the most enjoyable for me so it doesn't feel so much like work. Although I don't think any of these will feel like work.
     
  11. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Please, please, please, help me out here someone. You have no product, yet you are worried about leaving money on the table from not being on every platform out there?

    Gaia, I applaud your enthusiasm but this approach will spread you way too thin. Remember 80% of your business will come from 20% of your audience. It's a fact, I don't care how big your audience is. I have a legitimate target market of 1.5 billion people, but I need to focus on the smallest section of them. The 20% of the 20% of the 20%.

    Find out where your 20% of 20% of 20% hang out and forget all the other media streams out there for now. Focus.

    But I think you need more than that, you need to get some skin in the game. You need to EXECUTE. Build a course. Put it on udemy or have a chat and see if you can get on dailyom as that seems a good fit for your target market. Their top 15 courses alone sold around 10,000 units in the past 2 weeks.

    They have courses like:
    • Change Your Life with Energy Medicine Yoga
    • Healing Mantras for Anxiety and Depression
    • Chair Yoga for Healing, Strength and Mobility
    • Fit and Fierce Over 40
    • Overcoming Body Stiffness
    If you are thinking of building an audience first from scratch then it will take you forever before you have enough traction to make any worthwhile sales. I have friends on Youtube with 40k followers that has taken them 2 years to build and they make peanuts. I have 10k Instagram followers, they are worth peanuts.

    I know you love writing but you need to be doing something to earn your first dollar. I promise you that first sale will change your way of thinking.

    -
     
  12. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    If you don't have time to read an article where are you going to find time to cover every media stream out there? Not just once but consistently.

    Here is a quick answer for you. Yes you can share it on various platforms, (though you will probably have to adapt it suit the given media) unless you have written something for a website or third party exclusively and they have a clause forbidding you to. What you can't do is put the same YouTube video up twice on their system, either on one channel or several channels (and they have software that will detect it).

    I really wish you success.

    -
     
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  13. GaiaGoddess
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    I have the content for the products, I just need to assemble them. But everyone knows you're supposed to build an audience before you launch a product. What good does it do to make a product and have no one to sell it to? And getting feedback from an audience is the best way to make your product more of what they want.

    I have spent more time on refining my plan, I've decided to hold off on Twitter and Pinterest for later and I've narrowed my actual plans down to 3 even more niched down, and each one will only have a few platforms.

    I am actually taking that Fit & Fierce Over 40 class! I like that site but i don't like how their classes are by donation only, there is no set price. It has a Patreon feel to me and I want to make sure I'm getting paid for my work. Udemy promotes your classes for you, that is what I need right now. I am going to start building my course(s) ASAP, but I also want to build my audience at the same time so I have feedback while I'm creating the course as well as better chances of actually getting people to enroll in it.

    I understand it takes time, I have a few years yet before I run out of money so I am ok with busting my butt 16 hours a day and working on this until I am successful. By the time I need to get a job again (IF I need to), I will have the momentum started and it will require less time to keep up.
     
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  14. GaiaGoddess
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    Oh I didn't mean I don't have time to read articles, I meant I hadn't taken the time yet to read it as of the time I posted that. But I did read it shortly after, and the article mostly talked about content syndication specifically having other sites share your articles. But that is not what I am going to do. I'm strictly talking about sharing the content on things I own, my website, my Youtube channel, my FB page, in ebooks I write, in courses I create. And the answer is yes I can do all of those things legally and morally, that is all I was wondering about.

    Yeah I was planning on editing the content for each platform. And really the only site I would worry about is wherever I put my course, although I'm pretty sure if you create a course yourself, you are allowed to use that material anywhere. I know you can even sell the same exact course on Udemy and Teachable.
     
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  15. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You are taking the Fit & Fierce Over 40 class? What a coincidence. They have sold over 4000 of that particular course in the last 2 weeks. Even at an average of $15 a course that's over 60k in sales. I don't know what the profit split is but I would assume the course creator isn't doing too bad.

    And dailyom do advertise. I have seen their offerings on Facebook several times.


    See that is a misconception. Thousands of companies sell 10's of thousands of products on a daily basis with little to no audience. They rely on audience specialist doing that part for them (for a fee).

    Amazon
    eBay
    Facebook
    Google
    Bing
    Yahoo
    Instagram
    Twitter
    LinkedIn

    But hey, I didn't know you could afford to sit around for a couple of years without earning a bean. Kudos to you. Not many of us are in that situation.

    -
     
  16. Tommo
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    Tommo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    @biophase you are so succinct it gets me every time. Razor sharp mind.
     
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  17. GaiaGoddess
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    Yeah and I only paid $10 for it because I felt bad getting it for free. And the sad thing is I've never even started it and I signed up like a year ago. I guess it's true what they say about people who take cheap courses, they have nothing motivating them to actually follow through. But courses that are $200 or up, you know the students are going to at least start them. That is why I don't want to have my course(s) be free or cheap, I want people to get use out of them.

    Oh I'm not saying they don't advertise, just that they let you download the classes for free or whatever you feel is a good cost.

    I only know how to advertise on ONE of those and it wasn't free. I would rather get my audience organically. I will probably pay for some but not hundreds of dollars.
     
  18. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I've never seen them offered for free (only $10 up) but I have only visited for research purposes. Totally agree on the fact that people don't follow through unless they have enough skin in the game and a lot of time $10 is not enough.



    I think this is a stumbling block. You need to get over your aversion to paying for traffic.

    If someone said 'if you give me $10 I will give you $20' would you do it?

    This is essentially what paid traffic is if done correctly.

    If you could invest $100 to bring in $200 why wouldn't you?

    And once you have a successful adverting campaign you can then scale it so you are getting $2000 for $1000. (Not saying you are going to get a 100% return on your ad spend but you get where I'm coming from).

    I think $200 courses are brilliant for paid traffic as your product carries pretty much 100% profit (just card processing fee's) so you can afford to spend quite a bit of that on advertising and still make very good margins.

    Is your aversion due to lack of success with paid traffic in the past?


    -
     
  19. GaiaGoddess
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    I might pay in the beginning to get traffic so I have some audience to interact with from the get go, I wouldn't want to be talking to myself for any length of time, lol But paying for traffic just seems silly after you already have traffic coming in. And traffic isn't a guarantee that you'll earn money, so I guess what I'm saying is as soon as I start earning some money, I can't turn around and spend it for more traffic, I will need it to live first.

    No, I had good success with paid traffic before, my point is just that I need all the money I can get now for just surviving. When I get my first $100 I am not going to say to myself 'hmmm, I need to pay my electric bill but I should buy more traffic' Besides, I only paid about $10 for traffic in the past and got close to 1000 likes (this was on Facebook) so I don't really see the need to dump tons of money into traffic when there are so many free ways to do it.
     
  20. biophase
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    biophase Legendary Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    What I infer from this thread is too much planning and not any doing. You really need to put your content together first. Then sell it to people. Then create an audience in one platform.

    If you have the content like you say, you could be making money by next week.
     
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    So many I.
     
  22. 0VO
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    Gaia, a while back I was wondering the same thing.

    There's gold in this thread! Everything mentioned here is 100% completely on point!

    If you have content ready to go, just follow the advice and you'll start to turn a profit.

    To answer your question, it's similar to the reason a Hockey Team has a forward, a defender, a goalie, etc. There's no way the best forward could also be the best goalie. Likewise, a Great Email-Marketer may not also be a Great Website Designer. (Maybe good, but rarely GREAT at both.)

    You see some people who "Have it All", (ie: Gary Vaynerchuck, Grant Cardone, Dan Lok), but these individuals have Teams helping them manage each avenue. They may choose one to focus on personally, but they do not manage all of them alone.

    Ps. Huge Thanks @biophase and @RazorCut for the Reminders and Tips!
     
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    What have you actually taken action on so far?
     
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    See his previous post, the answer was there...It went right over your head!!! Seems you are reading just to respond, instead of reading to get the right feedback that will help you.
     
  25. RazorCut
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    ON PAID TRAFFIC:

    Paying for likes is not the same as paying money to be presented to your ideal audience in order to get customers who will give you a return on your spend.

    The sooner you see this thought as the limiting belief that it is, the sooner you will move from wantrepreneur to entrepreneur.

    Why do you think successful businesses have an advertising budget? Even putting a product on Amazon, eBay or Etsy is paying for traffic.

    ON YOUR ENTREPRENEURIAL JOURNEY:

    The fact that you have enough resources to enable you not to work for a couple of years means you can procrastinate and daydream for as long as you want. Many people do this all their lives. Whilst their business dream exists only in their head it's a success. Once it hits the cold hard light of reality it risks being a failure and the thought of that scares the shite out of them. It's a natural fear we all have.

    It is only when push comes to shove that something has to give.

    I get it. You are in a comfortable place right now. There is no incentive, no drive and no focus to push you forward into taking action. You don't have the reality check of 'shit, 6 weeks from now I won't be able to make the rent'. In short you are not ready yet.

    I think, because you like to write, a business that has people reading your words appeals to you. Maybe you should just blog.
     

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