The Fast Track To Poverty

Hey, this is Clay. Welcome to today’s episode of the marketing show. As you can probably tell, we are in a new environment. We are in a new space. I recently purchased a 2,000 square foot, four-story home for the marketing show. I’ll probably be doing a lot of masterminds here and a number of other, you know, marketing related activities. But this is kind of my secret headquarters for the moment.

As you can tell, I’m super excited about this. There is exposed brick, you know, exposed duct work track lighting, a number of cool features. But, we’re still ironing out the video situation. So, you may or may not be able to read what’s on the board. You probably can’t. And this will all be resolved over time. So, thanks for bearing with us.

Another thing I want to mention is that somewhere on this page, there is a place where you can join our – or my – actually in this case – my Facebook community. And the reason I started this is that I’m blogging on the marketing program blog. I’m blogging on my own personal blog. And I’ve got the marketing show. And I wanted a place to aggregate everything that I’m doing. And that is a good place to do it. So, we’re going to be posting content on there that you can’t get anywhere else. And I would absolutely love for you to join me in that community.

So, with that, we’ll go ahead and start with – with this episode of the marketing show.

So, today, we’re going to be talking about really the fast track to poverty in your business. And I get emails – I probably get an email about once a week that says something to this effect. The email says, “I’m not ready to start thinking about business or about marketing yet because, before you even think about marketing, or business, or, you know, whatever I’m doing, I need to one, you know, first, build a blog, okay. I need to build a blog first and I need to figure out the right theme and get a logo made. And I need to do all this stuff. And then, after I’ve built that blog, I need to build an audience. I need to blog my heart out and really build a community and an audience. That will probably take about a year. And then after I do all that, I’m going to launch a product.” And for every email that I get, that says something to that effect, I also get an email that says, “I don’t know what went wrong. I really need your help. I built a blog and then I built an audience. And then I launched the product and no one bought it, not even my mom. And I have to go back to my day job now.” “This whole dream of being a pro blogger or whatever did not work. No one bought the product after all this time.”

The reason why this whole process, build a blog and build an audience, then launch a product and, you know, hope that it makes money, the reason why this fails is because this is the monetization model of doing things. And the monetization model is predicated of the assumption that you can take something that was never created from the ground up to make money, and you can monetize it and turn it into money. And the truth is that things that are created – or I’m sorry – the truth is the things that are not created from the ground up to make money are very difficult to “turn into money”.

We see this problem, you know, one analogy for this, it comes from the weight loss sector. People talk about converting fat into muscle. And you cannot convert fat into muscle. You can lose fat and you can gain muscle, but you cannot convert fat into muscle. And I think there’s this assumption that is less and less accurate every single year, that you can convert a blog or you can convert any kind of web property into something that will make money. And it is very, very, very, very difficult to do. Monetization is incredibly hard.

You don’t hear Wal-Mart talking about monetizing their stores because their stores were created, from day one, to create an income. Now, I’m not a big fan of Wal-Mart, but I think you get the point. Real businesses never monetize because they were created from the ground up to make money. So, what is the process that you need to be following to not screw this thing up, okay?

Well, the first thing is you need to start thinking about marketing from day one. If you think about marketing only when you’re product is about to come out, then it’ already too late. So, I have people come to me, all the time, that say, “Clay, I have this product. Can you help me, you know, can you help me sell it?” And in most of the cases, if that product isn’t already selling a little, there’s really nothing I can do because it wasn’t created with a focus business outcome in mind from day one. It wasn’t created with marketing in mind from day one. They’re trying to monetize. They’re trying to convert something that was not created from the ground up to create income, and they’re trying to make income with it.

So, step one, when you’re trying to do this whole online thing, is learn marketing and learn business from day one. And you can still do what you’re passionate about, but when you’re doing what you’re passionate about, you take a business model, a solid established business model and you plug your talents and your abilities into that business model. You do not start with the business or you don’t end with your business model. You start with your business model.

The second thing, after you’ve fundamentally understood how business and how money is made on the internet, right, by learning about this stuff, maybe you joined the marketing program or maybe you take another course. After you’ve done that, you create a business from the ground up to take advantage of your talents and your abilities. You don’t monetize. You never turn something that was never created to make money into something that you’re hoping will make money. You create a business that’s engineered strategically from the ground up to create the income and the lifestyle you want, okay? That’s step number two.

And step number three is all along, throughout this entire process, you’re learning from real case studies from real businesses. I know there is a lot of, like, products out there that have the word, awesome. They’re like awesome-ify your awesome brand or some stuff like that. And they’re usually, when there’s just a bunch of like hoopla and like crazy language like that, usually, they’re not based on solid, solid case studies from actual marketing campaigns that made money in the last few months. Remember, most of the stuff that’s being taught online about how to generate income is stuff that worked two to three years ago and that worked for businesses that had more resources than you have. So, I encourage you to learn from case studies that you know made money in the last few months which is how, like, Harvard, actually Harvard education, Harvard business school teaches 100 percent using case studies. The marketing program, 100 percent uses case studies and there are a lot of other pro – this isn’t a pitch for the marketing program, a lot of really good courses that are all case-study based and are all about generating solid, focused income for your business.

The last thing I want to remind you of is that there is no proxy for profit. When you are learning how to run a business, Twitter followers does not equal money. Facebook followers do not equal money. You know, when you’re looking for models of how to do business, you know, RSS subscribers do not equal money. The only thing that equals money is money. So, when you’re learning how to create an income for yourself in your business, you need to make sure that you learned it from case studies that you know actually resulted in income. And you need to see the conversion rate and you need to see everything that sort of underlines them or underlies them.

Anyway, that’s it for today’s marketing show. I want to remind you that today, if you’re watching this on Tuesday, I am doing a webinar with my friends Lewis Howes and Sean Malarkey at 3:00 o’clock Eastern. I would love for you to join me. It’s going to be a great time. This is the first time that I’ve invited someone else to give a webinar with, you know, to my audience. And I think it’s going to be a great time. And I’m looking forward to it. And I would love to see you there.

So, that’s it for today’s marketing show. Thank you so much for joining me. And that wraps it up. See you soon.