In the last solo show, I recorded I talked about what I would do different if I were starting my business today. I had also done a similar episode in the very early stages of the podcast (that’s the beauty of this type of content, it’s always relevant, even though certain elements may change). The one thing I don’t think I talked much about (that’s my brain for you)… was cashflow.
Not from the basic accounting side of things, because I think we all get that concept.
More about what you can do to keep if flowing and why it should be your absolute first priority… yes, even before doing the things you “want” to do.
Which is a tough one for this chick. Remember, one of my mottoes is “If it’s not fun, I’m not doing it”.
But guess what?
Earning money IS fun… and creating cash flow in your business can fuel you to pursue more of your passions.
Here’s where the GooRoo’s go wrong… (and I have to credit Ben Settle with the ‘gooroo’ thing… I’m a fan of Ben’s work and subscriber of his Email Players newsletter… and would LOVE to have him on the show. But that’s another episode).
Having been in this business for a while now, I’ve seen a boatload of product launches, huge courses and high-end masterminds (I’ve invested in all of them). What you DON’T see very often is the one thing that will help you get closer to being able to invest in all of those things. Creating consistent cash flow in your business.
Because it’s not super sexy and most people don’t focus on what they need (what would really solve their problems), they focus on what they WANT. And gooroo’s and marketers alike know this. But that’s where the magic really starts to happen. When you can give someone what they want while solving what they need, it’s a win-win, isn’t it?
Here’s what I wish I had grasped early on.
Get the cashflow set up FIRST, then pursue the fun stuff… the passion projects… whatever you want.
Not that I necessarily would have listened. 🙂 I can be a little stubborn at times… but eventually I come around (ever wonder at what point we stop learning things the hard way?).
When the money obstacle is removed (meaning you can cover all your expenses and still have the quality of life you want), you’re in a completely different mental space to produce the things that make your heart sing.
Before we move onto gooroos, let’s talk a bit about what you can do to get the cash flowing.
And I’m going to be a little firm with you here… but trust that it’s coming from the right place, O.K.,?
Please don’t start with a bunch of “yeah, but…” reasons as to why you can’t/don’t/won’t take the steps to get cash flowing in your business. Been there, done that. And it’s bullshit. You absolutely can get these things going.
And I get it that there are a lot of different types of business models out there, but you’d be hard pressed to find one of these things below that doesn’t apply or can’t be implemented in your business. Even it if requires a few tweaks. I’m simply going to bullet point them here but go into more detail in the podcast itself.
Cashflow opportunities:[list icon=”icon: arrow-circle-right” icon_color=”#e05455″]
- Affiliate marketing
- CPA marketing
- Membership / continuity programs
- Client retainers (maintenance, hosting)
- Product sales (your own)
- Niche sites / PLR products
Do all of these take time?
But the time is going to pass whether you implement these things or not.
I have a friend who used to think of affiliate marketing from the perspective of “yea, but the money doesn’t come in for at least 30 days”. True. But in 30 days from now that is going to make a difference, right?
It makes me cringe a bit when I think of the amount of affiliate income that I’ve left on the table over the past 8 years.
It was that old, tired story of not wanting to offend anyone or seem cheesy because I was promoting affiliate offers. WTF?!
And all of this can be chalked up to perception.
Most people are too busy thinking about themselves to worry about what you’re doing.
Moving onto GooRoos
The second I saw Ben Settle write that I was hooked.
Not because I have a love/hate relationship around the whole ‘guru’ thing online… but because it completely put things into perspective for me (see what I mean about perspective??? It’s ALL perspective).
What seems to be missing from a lot of the gooroos out there (I keep wondering if I’m going to get tired of writing that or saying it when I record… probably not. I like fun words) is that they’re teaching a specific tactic. Which all fine & well. Every business has a need for certain tactics at times (and if you want more on the specifics of tactics vs. strategies, check out my podcast interview with Todd Brown). What a lot of the gooroos don’t tell you is that to apply some of these tactics you really need to have certain things in place and running in your business.
Can you imagine how you would feel if you were just getting started in your business and you bought a product on, let’s say, Facebook Ads?
You could probably follow the course on getting your ads set up, but what about the rest of the puzzle pieces?
- Your offer
- email sequences
- payment processing
- upsells / downsells
At what point do you have the fundamentals locked down (or which fundamentals you need to have locked down) before you try implementing a current tactic?
The one ‘gooroo’ I subscribe to that seems to have a much better grasp on all of this is Ramit Sethi of I Will Teach You to Be Rich. I haven’t bought one of Ramit’s products (yet), but I read his content and emails constantly (take note of this: you never know when your subscriber will be ready to become a customer!). Ramit does an amazing job of being super direct (maybe a little harsh? But always on point) and creating massive value (also someone I would suggest you subscribe to).
What the GooRoos WON’T tell you…
They won’t tell you that you should make sure your business has x,y & z in place BEFORE implementing their latest tactic.
And really… they shouldn’t.
That’s your job.
And like me, you might learn that lesson the hard way.
But you don’t have to.
One of the easiest things anyone getting started can do is simply pay attention. Before I signed up for Ben Settle’s Email Players newsletter, I subscribed to his emails and read them. For about a YEAR (tired of many of the tactics I had tried I wanted to go back and master the fundamentals. Email, copy, selling, conversions).
Find the gooroos you resonate with, subscribe and watch what they do.
I don’t care if you’re in the internet marketing/blogging space or not.
Follow the people in YOUR space who you see as doing something right. Don’t copy what they do… simply pay attention and test.
Try certain things and see how it feels in your business.
Just remember… what you see is not the whole picture.
Last, but certainly not least…
My First Post on Medium
… and why I did it.
As I’ve been going through this transition in my business (where I’m going, what I’m doing), there have been times where I just wanted to be ‘me’.
Not the brand, nothing to do with WordPress, marketing or digital anything.
I simply wanted to share what was on my mind (even though it related to my business, it was more about the way I was feeling).
I was pleasantly surprised at how much I enjoyed writing on Medium (over the last couple of years I’ve really fallen in love with writing… who knew?). I know I can write in WordPress in the distraction-free writing mode…but it’s not the same.
The content I wrote would definitely be applicable here and for this audience too (I have to look into the best way to pull that content here… embed maybe? I’ll cross that bridge later), but I just wanted to try something different.
And I LOVED it.
After I wrote the post and shared it socially, a friend of mine asked how Medium was going to fit into my digital strategy/marketing plan.
I told her I had no idea… or that it even would.
I simply did it for myself.
Here’s my first post on Medium:
While I’m not sure what the plans are for me & Medium, I can guarantee you there will be more posts.
Links from this Episode
Busy Isn’t A Badge of Honor- It’s Bullshit (my first post on medium)
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