You’re Trying To Sell A Product Or Service When You Should Be Building A Media Company

Join Jay on today’s Black Entrepreneur Blueprint podcast episode # 347 as he discusses another major mindset shift that can be the difference between success or failure in your business. Jay delves into the importance of thinking like a media company versus just selling a product or service, and how having that media company mindset allows you to control the vertical from production all the way to distribution.

 

 

 

 

 

BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES FOR EPISODE # 347

 

“You’re Trying To Sell A Product Or Service When You Should Be Building A Media Company”

Join Jay on today’s Black Entrepreneur Blueprint podcast episode # 347 as he discusses another major mindset shift that can be the difference between success or failure in your business. Jay delves into the importance of thinking like a media company versus just selling a product or service, and how having that media company mindset allows you to control the vertical from production all the way to distribution.

 

Does any of these situations sound familiar?

 

  • How many of you are struggling to sell your product or service online?
  • And if you are selling it, are ad costs making it impossible for you to be profitable?
  • What happens if you could sell your product or service with virtually no advertising cost and can control the customer experience from top to bottom?

BENEFITS OF THINKING AND ACTING LIKE A MEDIA COMPANY

  1. Control the vertical by creating built-in distribution for your product or service. (less money on ad spends).
  2. Way More Monetization Options (do you want one product or service to sell or multiple?)
  3. Have people to pay you which will subsidize your own ad spend

Intentional Attention vs Forced Attention

Intentional attention is attention that your prospective customers and customers seek out and are looking at your content as a viable and quality source of information. Forced attention is just that, attention to content that is forced upon a person via disruptive ads or marketing.

If you build the media company you don’t have to spend a lot of money on outside advertising and in fact, you can even make money by letting other companies pay you to advertise on your platform(s).

Change your thought process and expand your vision to building a small media company vs selling a product or service using: Social media, Newsletters, Multiple websites, Blogs, podcasts, YouTube channels, Books, White papers/reports/studies.

Here are some questions you need to ask yourself about building a small media company

  1. What is your topic or subject matter?
  2. Where can I find my target market? Are there specific ways I can connect with this target market via Facebook groups, organizations, social media using hashtags, etc?
  3. What type of quality content can I provide to that market? My own and/or curated content?
  4. What is the main way I’m going to connect with that market (podcast, YouTube, blog, etc)
  5. How often am I going to connect with them?
  6. What problems or concerns does that market have?
  7. What type of products or services do they want and need? (selling transformation)?
  8. How can I serve their needs with my products/services and others’ products/services?

 

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