Many entrepreneurs want to partner with other people, brands, and companies before they have created the necessary leverage. In order to be at the table, you must bring something to the table or – bring your own table. Join Jay on today’s Black Entrepreneur Blueprint podcast episode # 406 as he outlines the process of scaling your business by creating leverage.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 406
At the BEB Live event in LA last week, during the Q & A I was asked “How do we create partnerships with mainstream, white-owned companies, or do we forget about that and just stick to our own?” “Should you codeswitch to create partnerships?”
Many podcasters are selling out for the check instead of growing and monetizing their platform like (Million Dollars’ Worth of Game with Barstool Sports 3 million Dollar Deal for 50%, and Matt Barnes & Stephen Jackson’s podcast “All The Smoke” to Showtime).
How Do You Create Leverage To Create Partnerships (not selling your platform)
- Build your platform first to create leverage – you can’t come to the table with nothing or you can’t create a table with nothing
- Understand your monetization strategy for your own platform – how do you make money – how much money are you making – and how much money are you projected to make
- Look at what someone else is willing to pay you for your intellectual property – How are they going to monetize your business and how much will they make off your business?
- Can you create a system that maximizes your monetization opportunities and what does that look like? – (For me it could be a dedicated sales team to sell podcast and newsletter advertising)
Should You codeswitch to create partnerships?
That depends on what your end goal is and if it aligns with your beliefs and authenticity. Certain businesses or projects that are not Black-centric may be more desirable to certain entities than Black-centered or focused businesses.
If your platform is strong enough and will make money for your partner, they probably won’t care about you code-switching. How many of our Black facing products or properties have been taken over by other ethnicities (like BET) that profit from our community?
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