Tune in to the latest episode of the Black Entrepreneur Blueprint podcast, episode 506, titled “Platform Payday – How To Build A Profitable Platform,” hosted by the insightful Jay Jones. In this episode, Jay delves into the fundamentals of platforms, discussing their significance and role in modern entrepreneurship.
With a focus on empowering listeners, Jay unveils a comprehensive roadmap consisting of five actionable steps aimed at constructing and effectively monetizing platforms. Whether you’re a seasoned entrepreneur or just embarking on your journey, this episode is your definitive guide to unlocking the potential of your platform and building a successful, sustainable business.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 506
Building a platform is the long-game strategy many successful entrepreneurs use to build a successful, sustainable business. This is a long game, and it won’t happen overnight, but the benefits of building a platform can be the difference between a small company and a media conglomerate. What you are doing is building a media company that you can monetize.
What is a platform? A platform is a medium of how you communicate with your audience.
Why is it important to have one? you own and control it, owned media vs paid or earned media, ability to turn a cash faucet off and on at will, you can send and direct people to different offers and places
Why is it important to own and control your platform? you can lose your social media platform, use social media to build your database,
1. Identify the best platform for you – if you like to write a newsletter or blog, if you like audio do a podcast, if you like to be on camera do videos (not just on YouTube. It is on your own platform also)
2. Determine if the platform will be based on you and your personality or will it be faceless? It’s easier to sell a brand not based on you.
3. Create an exit plan before you start. Easier to sell if the platform operates without you.
4. Drive traffic and build your database – use social media and other tactics to drive traffic to your database that you own
5. Monetize your platform- Offer solutions to your audiences’ problems – problem-solution- the result, what problems does your audience has, and how you can solve them.
⁃ paid ads/sponsorship
⁃ Sell your products
⁃ Sell affiliate products
⁃ Create live events like workshops/expos
⁃ Coaching or consulting fees
⁃ Create a VIP experience for your members with exclusive content
⁃ Build a community and charge monthly
