Make Money Online (Without Destroying Your Reputation) | Spotify Video Exclusive
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What is the main topic discussed in this episode?
So you want to make money online, but you don't want to feel icky or sleazy to the people who know and love you when you ask them to give you money.
What is the importance of goodwill in online business?
So there's a good way to do it, and there's a bad way to do it. The good news is I can show you step-by-step how I got my first 20 clients posting on social media for my personal training business a decade ago, and how I've continued to use that in each company going forward.
How can you effectively balance giving and asking?
And this is a sneak preview from my upcoming book, 100 Million Dollar Leads, which you can check out at acquisition.com forward slash leads.
So there was a friend of mine who had a podcast that blew up and very quickly he had millions of downloads and his business started to grow.
What strategies can help you declare your first business?
It skyrocketed and it was almost 100% from people who were listening to his podcast. And what happened was he made an ask during one of his podcasts, he made a lot of money.
Why is patience crucial for sustainable business growth?
He thought, when I make an ask, I make more money. And so what I'll do is I'll just make more asks.
How can generosity maximize your audience growth?
He learned the wrong lesson. And so he did make more asks and he then made a little bit more money and then he would continue to make less and less and less until eventually his listenership dropped and dropped and dropped because he had lost the goodwill of his audience. The key point I'm gonna talk about today is mastering the give to ask ratio.
What is the significance of the give-to-ask ratio?
How much to give versus how much to ask. Gary Vee popularized the whole concept, jab, jab, jab, right hook, which is the idea of giving, giving, giving, and then asking, not take, but ask. The good news is this ratio has been incredibly well studied. Why? Because the biggest media companies in the world want to be able to ask on their platforms as much as humanly possible without losing viewership, listenership, audience. On television, for every 47 minutes, of content, there's 13 minutes of advertising. If you look on Facebook, every four posts, there's one ad.
How can you integrate asks into your content without losing audience?
It's almost like a three to one ratio between how many ads there are and how much content there is. What I wanna do is give you my slight tweak on the give, give, give, ask concept. Instead of give, give, give, ask, I'd like to just change it to give until they ask you. And that's when you know your audience is ready for you to make an offer. And my personal preference here is actually to give in public and sell in private. Whenever you give, you deposit goodwill into the audience. If you give someone something first, they're far more likely to comply with your request later. When someone helps us, we feel indebted to them and we want to help them back, right? That's how society works. But with media, we can do that at scale.
You can gain goodwill and provide value to millions of people at once, but then it all funnels back to one person. And that's why it's so powerful and it's free. When you do it that way, your brand consistently is reinforced publicly and you continue to grow and expand. It will force you to keep that content amazing so that you continue to reinforce your reputation. If you consistently give and give and give, then what happens is your audience compounds. And this is something that I didn't understand for a long time. The audience is the asset, not the content you make. So when I make a video and then it disappears in three days on my newsfeed, what that one piece of content is, is it got me 300 more people to start seeing my stuff.
and then they permanently enter the audience provided I don't ask too much too frequently. In the beginning, it'll be really small and if you can hold off and you keep giving, you keep giving, you keep giving, you eventually never even have to ask publicly because instead of asking, you just start getting. Transparently, this is something that I've now personally experienced and I was like, I don't know, but you know what, I'll give it a shot. Let's just see if I can make a bunch of business content and see if that will attract $1 million, $5 million, $10 million profit per year businesses, not revenue, profit, so that I can invest in them and help them grow.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:06
2
What is the importance of goodwill in online business?
0:06–0:19
3
How can you effectively balance giving and asking?
0:19–0:32
4
What strategies can help you declare your first business?
0:32–0:40
5
Why is patience crucial for sustainable business growth?
0:40–0:44
6
How can generosity maximize your audience growth?
0:44–1:00
7
What is the significance of the give-to-ask ratio?
1:00–1:34
8
How can you integrate asks into your content without losing audience?
1:34–10:23