⭐️ This week we are talking about some common business mistakes that we make as online entrepreneurs that keep us from making money.
In my online entrepreneurship journey that started in 2015 I have made a TON of mistakes but there was ONE mistake that I didn't make that has made a giant difference for me.
I view an online business journey like an obstacle course race. Eventually we come to that giant wall that is impossible to get over by yourself and you need someone to reach over from the top and help you out.
In 2015 I new that I had a great message and I was getting great results with my clients at my fitness facility. I wanted to leverage a podcast to grow an online audience and an online business. My main issue was that I was starting from complete scratch with zero followers, zero email list, and zero online presence at all. On top of that I had no idea where to start on any of it......stop me if this is starting to sound familiar to anyone.....LOL.
Out of all of the mistakes I made early on in my journey I did, by chance, get one thing right: I decided to invest in my business so I could get the knowledge and tools to make it happen.
I know a lot of you are out there waiting to "make some money so that you can invest in your business"....and I'm here to tell you that you might be waiting a long time.
Think about this Pod Pals: I DID invest in coaching and online business tools and it STILL took me three years to make any money ($37.00) and a full five years to be able to replace my income and go full time.
Here are three key business building investments I made before I started making any money:
✅ 1. I bought a $2,000 online course called Experts Academy from Brendan Burchard. This course taught me all about the online business world, lead magnets, marketing, pricing, etc. It was a great base knowledge builder and it helped me decide to dive head first into podcasting.
✅ 2. I bought an $800 course called List Builders Lab from Amy Porterfield. In this course I learned how to create a lead magnet and build an email list.
✅ 3. Both Brendan and Amy recommended an online business platform called Kajabi......so I started paying $200/month for that service. This platform has allowed me to build my website, sales pages, lead magnets, courses, memberships, private podcasts, etc.
Now here's another fun fact about my investment in the Kajabi platform. I paid $200/month for three years before I made ANY money at all (that's over $6,000 for those that are counting!). To date I've invested over $19,000 in using the Kajabi platform.......which is a LOT!......BUT....I've also processed over $300,000 in payments on this platform (most of which has come in the last two years).
I honestly believe that if I hadn't been willing to invest in my business from day one (before I was making any money from it) that I wouldn't be here writing you this awesome newsletter today.......I would have failed and quit years ago.
Now that I've got your wheels turning, you can dive into some more monetization mistakes to avoid in episode 431.
🎧 431: Seven mistakes that keep podcasters from making meaningful income.
*Why becoming the "expert" on your own show will help you earn more income.
*Why you might be making a major mistake with your call to action on your show.
*One mistake that I corrected that made my audience smaller but grew my business.
🤩 Client testimonial of the week: My client Shannon Russell has an awesome podcast called The Second Act Success podcast.
Check out what she has to say about working with me:
"I joined the Download Growth Club for the community and all of the great advice and action tips that Adam shares. It's been such an incredible experience and has really helped my podcast."