Black Entrepreneur Blueprint 520 - Jay Jones - The More Media You Own The More Money You Can Print

[00:00:01] Welcome to Black Entrepreneur Blueprint, the number one podcast and resource for black

[00:00:18] entrepreneurs.

[00:00:19] I'm your host Jay Jones and Black Entrepreneur Blueprint was created specifically to educate

[00:00:25] and inspire black entrepreneurs to launch, build and grow successful, sustainable businesses.

[00:00:32] Join us as we help build an economic power base in the worldwide black community by building

[00:00:39] and supporting black owned businesses.

[00:00:41] If you're currently an entrepreneur or want to be an entrepreneur, you're invited to join

[00:00:46] us each and every week here at Black Entrepreneur Blueprint.

[00:00:50] Welcome to the BEB family and get ready to elevate your entrepreneur IQ.

[00:01:00] Welcome to the Black Entrepreneur Blueprint, episode number 520.

[00:01:07] I'm your host Jay Jones and today we have another outstanding and informative show in

[00:01:12] store for you.

[00:01:13] Today's show topic is the more media you own, the more money you can print.

[00:01:19] The more media you own, the more money you can print.

[00:01:24] To sell your product or service, consumers have to know your product or service exists.

[00:01:29] If they don't know it exists, that means they can't purchase your product or service.

[00:01:34] So the question is, do you pay for attention on other media platforms or do you create your

[00:01:41] own platform?

[00:01:43] And we're going to dive into that today.

[00:01:45] I'm going to discuss the pros and cons of each approach and then I'm going to give you five

[00:01:50] steps to create a profitable platform that you own.

[00:01:54] That's the key word ownership, not renting, but a platform that you own.

[00:02:00] Now, before we get to today's content, let me just share a few things with the Black Entrepreneur

[00:02:04] Blueprint family.

[00:02:06] First and foremost, I want to welcome all first time listeners.

[00:02:10] Welcome to the BEB family.

[00:02:12] Please stick around until the end of today's broadcast and I'm going to share all my social

[00:02:16] media contact information and resource links such as the link to the new revised revamped

[00:02:23] BEB Academy.

[00:02:25] Go to newbebacademy.com.

[00:02:28] This is our online learning portal with live group coaching, workshops, masterclasses

[00:02:35] and all types of resources to help you elevate your entrepreneur IQ.

[00:02:40] Go to newbebacademy.com for more information.

[00:02:45] Now let's dive into today's show content.

[00:02:48] The more media you own, the more money you can print.

[00:02:52] So today I'm going to discuss the power of owning your own media platform and I'm going

[00:02:57] to give you five steps to build your own platform.

[00:03:00] We're not talking about Facebook or Instagram.

[00:03:03] All of that stuff is rented land.

[00:03:05] You want to build your platform on something that you own and here's the key phrase for

[00:03:11] today guys.

[00:03:12] Leads are simply a function of movement into traffic sources that you own.

[00:03:18] This is what a lead is and the importance of leads are guys, is that you can't sell

[00:03:23] anything without having consistent qualified leads to sell to.

[00:03:27] I say this all the time, no leads equals no sales equals no business and for the life

[00:03:34] of me as a serial entrepreneur for 25 plus years and a business coach for 20 plus years,

[00:03:41] I can't understand why every business doesn't have a lead generation system, but I want to

[00:03:48] start off today's conversation by repeating this sentence and this is a key sentence that

[00:03:54] you need to remember.

[00:03:56] Leads are simply a function of movement into traffic sources that you own.

[00:04:03] That's the best form of leads.

[00:04:05] Movement into traffic sources that you own.

[00:04:08] Your traffic source could be a podcast, it could be a blog, it could be a newsletter,

[00:04:14] whatever, something that you own, not something you rent.

[00:04:20] If you own your media company guys, you can basically generate leads for free.

[00:04:25] This is a long game move and it takes time to get there, but this is where you should

[00:04:30] be headed.

[00:04:32] This should be your goal and objective and I'm going to give you some real life examples

[00:04:37] and I'm going to give you five steps how to build that platform.

[00:04:40] I talked about rented land and owned land.

[00:04:44] Rented land is social media.

[00:04:45] You don't own and control social media and I want you guys to truly understand the gravity

[00:04:52] if you build your business solely using or on social media.

[00:04:57] So I don't care if it's Instagram, Twitter, Facebook, TikTok, LinkedIn, whatever it is,

[00:05:04] you don't own that and the owners of those platforms can kick you off.

[00:05:09] I told the story and I'm going to give you a brief version of this right now.

[00:05:14] I had a BEB family member that I was actually mentoring.

[00:05:18] They had all of their business information and they did all of their sales on Instagram.

[00:05:23] One of their competitors wanted to knock them out of the box and what they did was they

[00:05:28] got their Instagram followers to complain about the BEB family members Instagram.

[00:05:35] The account got shut down multiple times, three, four or five times and they were never

[00:05:40] able to get that traction back up.

[00:05:42] Now you use social media to build your database and we're going to get into all of that in

[00:05:49] a little bit, but what we're discussing today, the more media you own, the more money you

[00:05:55] can print.

[00:05:56] Now don't get me wrong when I talk about social media as rented land.

[00:06:00] Now you want to leverage social media so you can drive people to your flywheel or your

[00:06:05] ecosystem where you get their information so you can continue to market to them.

[00:06:11] Be it whatever platform or platforms you like to post on or run ads on, then go ahead and

[00:06:18] do that, but you want to drive them to your platforms.

[00:06:22] In order to do that, you need to grab key pieces of information, name and email and

[00:06:29] preferably if you can a phone number where you can do text and SMS messaging.

[00:06:35] I'm not poo-pooing social media, but that's not where you want to build your house.

[00:06:39] You want to build your house on your own platform, which you own and not rented land.

[00:06:46] So first we're going to talk about what is a media buyer, what is a media owner and how

[00:06:52] do you create your own platform?

[00:06:55] And I'm going to break it down from media buyer perspective and a media owner perspective.

[00:07:01] So what is a media buyer?

[00:07:03] A media buyer is a person or business that pays for media exposure on an established

[00:07:09] media platform.

[00:07:11] So what you're doing is you are paying for exposure on a platform.

[00:07:16] So if you advertise on Facebook or Instagram, then you are a media buyer.

[00:07:22] If you advertise on Twitter or Google or whoever else or wherever else you advertise, you are

[00:07:27] a buyer of media.

[00:07:29] You can be a buyer of media for a small company or you can be working in the marketing department

[00:07:35] of a large company and buy hundreds of thousands of dollars of media each month.

[00:07:41] It doesn't matter because you're buying or paying to be on somebody else's platform.

[00:07:47] Now let's talk about the pros and the cons of being a media buyer.

[00:07:53] And let me first jump back and tell you about the three forms of media.

[00:07:58] One is paid media, earned media and owned media.

[00:08:03] Paid media is what we're talking about when you're a media buyer.

[00:08:06] You're spending money to be on somebody else's platform.

[00:08:10] Earned media is when you earn the right to be on somebody's platform for no money.

[00:08:15] So a black enterprise wants to write a story about you and put it on their website.

[00:08:20] That's earned media.

[00:08:21] If your local newspaper wants to do a story on you and they put it in the local paper,

[00:08:26] you don't pay them anything.

[00:08:27] That is earned media.

[00:08:29] That's hard to get, okay?

[00:08:31] Unless you're super popular and you devote a lot of time and have a PR person or PR department

[00:08:37] to help get that earned media.

[00:08:40] And then there's owned media, which is a media platform or platforms that you own.

[00:08:46] So earned, owned and paid.

[00:08:50] So we're going to talk about paid.

[00:08:52] What is a media buyer?

[00:08:53] A buyer or a person or business, excuse me, that pays for media exposure on an established

[00:08:59] media platform.

[00:09:01] Here are the pros.

[00:09:02] Number one, you can buy media anytime you need to.

[00:09:06] So if you have a new product coming out or a new service or you're a new business, you

[00:09:11] can go ahead and invest money in Facebook or Instagram or whatever, and you can buy

[00:09:16] media anytime that you want, right?

[00:09:19] That's a pro.

[00:09:21] Also, another benefit of buying media is you can scale by buying media.

[00:09:27] So if you want to scale and ramp up, if you see that your ads are working, then you invest

[00:09:32] more money in that media ad spend and you make more revenue.

[00:09:36] Okay?

[00:09:37] Those are some of the pros.

[00:09:39] Now let's talk about the cons of being a media buyer.

[00:09:45] Number one, it costs money, right?

[00:09:48] And guess what?

[00:09:49] A lot of new entrepreneurs don't have is money, right?

[00:09:52] So you have to understand that you're going to need money to invest if you're going to

[00:09:57] buy media.

[00:09:59] Another con is that your ad may not be profitable.

[00:10:03] So you always want to be profitable when you invest in advertising spending.

[00:10:09] So if you're spending a thousand dollars a month in Facebook ads and you're only making

[00:10:14] $200, that means you're losing $800 a month.

[00:10:18] Now how many months can you continue to do that?

[00:10:21] That's another kind of paid media.

[00:10:24] Also you have to be a space has to be available or you have to get approved to advertise on

[00:10:31] specific platforms.

[00:10:32] So for example, uh, I was looking at a newsletter to advertise on and I wasn't able to advertise

[00:10:39] a product in the newsletter because they said that they didn't, they didn't take that

[00:10:45] type of advertising.

[00:10:47] So the cons are, it costs money.

[00:10:50] Your ad has to be profitable unless you just got money to blow and the space or has to

[00:10:56] be available for you to advertise.

[00:10:59] And that's what a media buyer is.

[00:11:01] There's pros and cons.

[00:11:03] Now on the flip side, what is a media owner?

[00:11:07] And that's a person or business that creates and owns their own media platform.

[00:11:13] So media buyer, you're spending money, media owner, you're making money.

[00:11:18] Okay?

[00:11:19] Look at some of the pros and some of the cons.

[00:11:22] Pro number one, you own and control the media platform.

[00:11:26] So just think about when you're advertising on these other platforms.

[00:11:31] Just imagine if you didn't have to pay anything, right?

[00:11:33] You'd be on all the platforms you can't, you could be.

[00:11:37] And we're going to talk about some of the platforms that you can create in a little

[00:11:40] bit later in the show.

[00:11:42] So you own and control the platform.

[00:11:44] Another pro is you can advertise on your own.

[00:11:47] So for example, with Black Entrepreneur Blueprint, this is my podcast.

[00:11:51] I advertise a lot of my own products and services at right at the beginning of the show.

[00:11:57] The new BEB Academy, Revise, Revamp, go to newbebacademy.com.

[00:12:02] I'm not paying for that because this is my platform.

[00:12:06] This is my podcast.

[00:12:07] I own this.

[00:12:08] I don't rent this land.

[00:12:09] I own this land and I'm advertising directly on my platform.

[00:12:16] Another benefit is it's free, right?

[00:12:20] It's free.

[00:12:21] Now I have people that advertise on the show and they spend thousands of dollars to advertise

[00:12:26] on the show to connect with my audience, with the BEB family.

[00:12:31] So it's free.

[00:12:33] Also another benefit is you can make money on your platform by selling ad space and leads.

[00:12:40] Okay?

[00:12:41] So I'm selling ad space.

[00:12:43] I'm making money.

[00:12:44] Say I contract out or I decide to run ads for mortgage, the mortgage business, right?

[00:12:52] So I'm back in the mortgage game, but I'm only licensed in like 12 states.

[00:12:57] So say I get somebody that wants a mortgage if I'm advertising on BEB on the podcast and

[00:13:04] it's in a state that I don't actually have license or have a license in.

[00:13:09] So what I can do is I can say, Hey, I got this lead here.

[00:13:13] John Brown's looking to buy a $700,000 house in Nebraska.

[00:13:18] I can find a mortgage broker in Nebraska and sell him that lead and make money.

[00:13:24] So there are all types of benefits to owning your own media platform.

[00:13:29] Now let's talk about some of the cons because not everything is all sweet, right?

[00:13:33] There's some negatives to everything.

[00:13:35] Number one, it takes time to build a platform.

[00:13:38] So with this podcast is going on 10 years, 520 episodes.

[00:13:43] So it takes time.

[00:13:44] Okay?

[00:13:45] It's the long game.

[00:13:47] It's not the short reward.

[00:13:48] It's the long game.

[00:13:50] Another con is you have to create or curate content on a regular basis to get traction.

[00:13:58] Every week I have to come out with a new BEB episode.

[00:14:02] So I've done it 520 weeks in a row, never missed a week, but you have to create or curate,

[00:14:10] bring another content on a regular basis so you can get traction.

[00:14:15] Okay?

[00:14:16] So those are some of the cons of having your own media platform.

[00:14:21] Before we get into the five steps on how to build your own media platform, I just want

[00:14:26] to tell you guys a story that I did years ago and I created a platform that I actually

[00:14:33] was selling my own stuff on a platform and was making money.

[00:14:37] Okay?

[00:14:38] So years ago, I don't know if you guys are familiar with money mailer, right?

[00:14:43] You used to get these coupons in the mail and there'll be a whole stack of coupons.

[00:14:47] I don't even, I think they're still around.

[00:14:49] Actually, I think I did see one at my house.

[00:14:52] So I don't know how they're still in business, but I created a money mailer for black folks

[00:15:00] and I had it going nationwide.

[00:15:02] So the reason I started it, and I'll give you the impetus of the actual project, the

[00:15:08] reason I started it was, is I had an alarm business.

[00:15:11] I was an ADT dealer in the Philadelphia area.

[00:15:15] I had two locations, Philly and South Jersey.

[00:15:18] And so back in the day before internet, direct mail was the thing.

[00:15:23] So I started investing in direct mail going to houses and that thing, you know, was getting

[00:15:28] expensive.

[00:15:29] So I said, man, who else wants to be able to get to these same homeowners and how am

[00:15:33] I going to be able to leverage that so it can reduce my cost?

[00:15:38] So I started looking at home improvement people, people that did lawn care, paving,

[00:15:43] power washing, asphalt, all types of home improvement, handyman stuff.

[00:15:48] And at first I created a small little newsletter that I would mail out once a week and in that

[00:15:56] I would have about six or seven different advertisers in it.

[00:16:00] Now what did that do for me?

[00:16:02] Now I owned a platform, so now I actually was making money from the actual mailing and

[00:16:09] I was still getting customers for free.

[00:16:12] So yeah, my cost of mailing and printing was absorbed by the other five or six advertisers

[00:16:18] that I had in my promo, in my flyers.

[00:16:22] So now I created a platform.

[00:16:25] I took it even bigger than that guys.

[00:16:28] It didn't last long because everything was changing, but I created a national direct

[00:16:33] mail piece like money mailer to the top 10 urban cities in the country and I was mailing

[00:16:41] hundreds of thousands of mailers and I had customers such as direct TV and a lot of national

[00:16:47] companies.

[00:16:48] So I was mailing to affluent black households in the top 10 metropolitan areas of the United

[00:16:56] States and I did that for about a year and a half and made great money, but that was

[00:17:00] a platform that I created.

[00:17:03] The name of the national mailer program was called Heritage Direct Mail and what it was

[00:17:09] was it was a yellow or gold envelope and inside were all of the advertisers and on the outside

[00:17:15] the logo was a picture of the United States, but it was red, black and green.

[00:17:21] So that was my thing and I was doing great business, but after a while, you know, internet

[00:17:26] came and that basically shut that down.

[00:17:29] But once again, it's about building a platform.

[00:17:32] Black Entrepreneur Blueprint, the podcast, that's a platform I own.

[00:17:36] Heritage Direct Mailer, that was a platform that I owned.

[00:17:40] So think about this guys.

[00:17:42] How much sense does it make to be able to advertise and market your product for free?

[00:17:49] And in my case, I'm making money doing it with the podcast.

[00:17:54] It doesn't cost me anything and I have advertisers on the podcast, so I make money from that

[00:17:59] and also with the Heritage Direct Mail, make money with that too.

[00:18:03] And I was basically tagging along adding my ADT security system advertisements for free.

[00:18:12] So that's why you want to own your own media.

[00:18:17] Now let's talk about steps to owning your own media, not rented media, but owned media.

[00:18:23] And I'm going to give you some examples of land that you own or media that you own.

[00:18:28] A podcast, nobody can stop Jay Jones from dropping his podcast.

[00:18:33] The only thing that'll stop me is if I don't pay my host, okay, which is Libsyn.

[00:18:38] Now as long as I pay my host, nobody can stop that.

[00:18:42] A newsletter, right?

[00:18:44] If you have a direct newsletter, email newsletter, they're crazy newsletters out there right

[00:18:49] now making thousands, hundreds of thousands, millions of dollars, okay, a month with newsletters.

[00:18:56] You own that, nobody can stop you.

[00:18:59] Websites, you have a blog or whatever, websites, nobody can stop that.

[00:19:04] Once again, the only thing that can stop you is if you don't pay your host and bill, okay?

[00:19:09] We also have blogs.

[00:19:11] Now videos, you can own the videos if they're on your platform.

[00:19:16] YouTube obviously is the number two search engine out there.

[00:19:20] Problem is if you have a YouTube channel, you can get shut down from YouTube.

[00:19:24] So that's rented land.

[00:19:26] And remember guys, I said you want to use social media and these other platforms to

[00:19:31] drive traffic, to build your own database and send people to your own platform.

[00:19:38] Remember, Instagram is not a platform you own.

[00:19:41] Twitter is not a platform you own.

[00:19:43] Facebook is not a platform you own.

[00:19:46] TikTok is not a platform that you own.

[00:19:49] LinkedIn is not a platform that you own.

[00:19:52] And wherever else you're on social media, Snapchat, whatever else it is, you do not

[00:19:57] own that, but you want to leverage it.

[00:20:00] Now let's talk about five steps on how to create your own platform.

[00:20:07] You want to create it on owned ground, not rented land, but owned land.

[00:20:12] Okay?

[00:20:13] Number one, step one, use content and social media to drive traffic to your own media platform.

[00:20:21] That's what I talked about leveraging social media.

[00:20:24] So let's just say you own a mortgage company and you start putting up mortgage content

[00:20:29] on Instagram, but you're sending people over to your website to get a quote or set up a

[00:20:35] free consultation.

[00:20:37] That's great.

[00:20:38] So use content and social media to drive traffic to your own media platform.

[00:20:43] Now with my podcast, uh, content every week there's new content on black entrepreneur

[00:20:49] blueprint.

[00:20:50] So number one, use content and social media to drive traffic to your own platform.

[00:20:56] Step two, determine what type of media you want to own and then you create it.

[00:21:02] What type of media platform or platforms do you want to own and then create it?

[00:21:09] Remember, it could be podcast, it could be a newsletter, it could be a website, it could

[00:21:13] be a blog, it could be landing pages, whatever it is, but you have to determine what type

[00:21:19] of media you want to own and then you create it.

[00:21:23] Number three, create useful content for your audience on a consistent basis.

[00:21:29] We talked about that.

[00:21:30] I haven't missed a week in 520 weeks.

[00:21:34] That's 10 years straight.

[00:21:36] You've got some new heat from Jay Jones and black entrepreneur blueprint.

[00:21:39] Now you may have a couple of rebroadcasts if I'm traveling or if I'm sick or whatever like

[00:21:44] that, but 520 weeks I might've done in those 10 years, maybe 15 rebroadcast 20 at the most

[00:21:55] out of those 520 episodes.

[00:21:57] So step number three, create useful content for your audience on a consistent basis.

[00:22:05] Step four, this is big guys, create a monetization plan and develop product ideas.

[00:22:12] Create a monetization plan for your platform.

[00:22:16] So remember guys, there's only six type of things that you can sell.

[00:22:20] Your physical products, your digital products and your services or somebody else's physical

[00:22:27] products, somebody else's digital products or somebody else's services.

[00:22:32] There's only six type of things that you can sell.

[00:22:36] What is your monetization plan and do you have products developed?

[00:22:41] Are you going to use your products or services or are you going to use somebody else's which

[00:22:46] we would normally call affiliate products or services?

[00:22:49] So for example, with the podcast, everything will pretty much everything that I advertise

[00:22:55] is one of my products or services.

[00:22:58] So I have, you know, the BEB Academy new and revised.

[00:23:02] I have online courses.

[00:23:04] I got books, I got ecosystems, I got templates, I got all types of things.

[00:23:09] So that's part of my monetization structure or plan for the podcast.

[00:23:15] Okay.

[00:23:16] Now, if you don't have any products or services to sell, you can always start off with affiliate

[00:23:22] products and these are products or services that you recommend to your audience.

[00:23:28] And when they buy, you get a commission or a certain percentage of that sale.

[00:23:33] That's a great way to start.

[00:23:35] Now if you're a real smart entrepreneur, what you'll do is you may want to start off with

[00:23:40] affiliate products or services.

[00:23:41] If you don't have any, then if you notice that, hey, this product is selling, then you

[00:23:46] go out and create your own product.

[00:23:49] Okay.

[00:23:50] And that way you make more money.

[00:23:51] That's a whole nother different podcast, but that's step number four, create a monetization

[00:23:56] plan and develop your product ideas.

[00:23:59] And the last step is step number five, create a marketing flywheel and a lead generation

[00:24:06] system.

[00:24:07] And so they're almost interchangeable.

[00:24:09] Your lead generation system guys is a system that's going to give you a predictable amount

[00:24:14] of leads every day consistently.

[00:24:18] So you have qualified customers to talk to or people to put in your database.

[00:24:24] Okay.

[00:24:25] And this is the biggest thing.

[00:24:26] So a flywheel is just all the other stuff that's around in your ecosystem.

[00:24:31] So for example, uh, in my mortgage business, I have a different Instagram for my mortgage

[00:24:37] business.

[00:24:38] What I'll do is I'll take a piece of content, uh, and put it on Instagram.

[00:24:42] I'll also write a LinkedIn post about it.

[00:24:46] And then I may do a short, um, a short email that I distribute to my mortgage list.

[00:24:53] So now I'm taking one piece of content and I'm creating multiple pieces that's called

[00:24:58] a part of a flywheel.

[00:25:00] And then that helps with lead generation.

[00:25:03] And then I send them to a particular page or particular action call to action.

[00:25:08] What is the action?

[00:25:09] Once you see this Instagram video, click the link in the bio to download, you know, the

[00:25:15] PDF or whatever it is.

[00:25:17] Click the link in a bio to watch the short video, whatever it is, you have to have a

[00:25:21] call to action.

[00:25:23] Step five, create a marketing flywheel and lead generation system.

[00:25:28] I'm gonna go over these real quick again, and then we're going to hit to the last segment

[00:25:32] of the podcast.

[00:25:35] These are steps to create your own media platform.

[00:25:38] Step one, use content and social media to drive traffic to your own media platform.

[00:25:43] Step two, determine what type of media you want to own and create it.

[00:25:48] Step three, create useful content for your audience on a consistent basis.

[00:25:54] Step four, create a monetization plan and develop product ideas.

[00:25:58] Step five, create a marketing flywheel and lead generation system.

[00:26:04] This is how you do it guys.

[00:26:05] The more media you own, the more money you can print.

[00:26:09] And I'm going to talk about multiple platforms in this last segment.

[00:26:13] But before I get to the last segment, let me just share all my social media contact

[00:26:18] information and resource links with you real quick.

[00:26:21] Everything I'm about to tell you guys is on the website, blackentrepreneurblueprint.com.

[00:26:27] I mentioned at the top of the show, the new revised revamped BEB Academy is live.

[00:26:32] It's our online learning portal with masterclasses, workshops, and all types of resources to

[00:26:38] help you elevate your entrepreneur IQ.

[00:26:41] Go to newbebacademy.com for more information.

[00:26:46] Now if you want to connect with me anything long family, hit me on my email, jjones at

[00:26:51] blackentrepreneurblueprint.com.

[00:26:53] J-A-Y-J-O-N-E-S at blackentrepreneurblueprint.com.

[00:26:58] Facebook Black Entrepreneur Blueprint.

[00:27:01] YouTube.

[00:27:02] Go to YouTube guys and type in Black Entrepreneur Blueprint.

[00:27:05] Hit that subscribe button.

[00:27:06] I have additional content on YouTube that is not on the show.

[00:27:10] Yes, the show does come out on YouTube also.

[00:27:13] Instagram.

[00:27:14] I have two IG accounts.

[00:27:16] The first one is J Jones for real.

[00:27:18] J-A-Y-J-O-N-E-S.

[00:27:20] The number four, R-E-A-L.

[00:27:23] Second one is Black Entrepreneur Blueprint.

[00:27:25] Twitter.

[00:27:26] Hit me on Twitter, jjones001.

[00:27:30] J-A-Y-J-O-N-E-S 001.

[00:27:33] And LinkedIn, just type in J Jones Black Entrepreneur Blueprint.

[00:27:38] Now don't forget to go and check out the website guys.

[00:27:41] We spend a lot of money and time to revigorate the website and we have all types of resources

[00:27:47] that are free that you can utilize.

[00:27:49] So go to blackentrepreneurblueprint.com.

[00:27:52] Hit the learn tab and in that drop down we have resources on all types of things that

[00:27:57] you need to grow your business.

[00:27:59] Scaling your business, marketing, e-commerce, side hustles, everything you need to help

[00:28:05] elevate your entrepreneur IQ.

[00:28:08] Go to blackentrepreneurblueprint.com and make sure you utilize the website and the free

[00:28:13] resources.

[00:28:15] Now let's jump into this last segment real quick and we're talking about the more media

[00:28:19] you own, the more money you can print.

[00:28:23] So I want to give you an example of a platform like a popular website or blog.

[00:28:29] I don't know if you guys have ever heard of the Penny Hoarder.

[00:28:32] The Penny P-E-N-N-Y Hoarder.

[00:28:35] H-O-A-R-D-E-R.

[00:28:38] It's a personal finance blog that actually provides advice on saving money, earning extra

[00:28:44] income and managing your finances.

[00:28:46] Now in 2020 the website sold for $102 million.

[00:28:53] One oh two.

[00:28:54] It sold for $102 million.

[00:28:57] It is a platform that somebody created to talk about personal finance.

[00:29:03] Has anybody ever heard of the Nerd Wallet?

[00:29:06] N-E-R-D-W-A-L-L-E-T dot com.

[00:29:09] Nerd Wallet makes over $590 million per year and it's a platform that has financial information

[00:29:18] and rates for mortgages, loans, credit cards and all of that type of stuff.

[00:29:23] But they do, they actually went public.

[00:29:25] They had an initial public offering several years ago and in 2023 I believe they made

[00:29:31] $599 million.

[00:29:34] And this is from a platform.

[00:29:36] This is why you need to create platforms guys.

[00:29:40] So number one you have complete control over the platforms and number two if you go in

[00:29:46] and set it up right you can possibly exit from the platform.

[00:29:50] Now I talked about creating multiple platforms.

[00:29:55] Sometimes it can be as simple as creating multiple landing pages and here's a real

[00:29:59] life example that I do with my mortgage business.

[00:30:02] So I have a standard, my standard mortgage website that's designed to generate quotes

[00:30:07] or not quotes but for people to go in and they can actually take a quiz.

[00:30:12] Kind of like a lending tree page where what type of mortgage are you looking for?

[00:30:17] You know are you a first time home buyer?

[00:30:19] Where are you trying to buy the house?

[00:30:21] Ba ba ba ba ba ba.

[00:30:22] It's a series of questions that they go through and it's like on a slider so they can click

[00:30:27] it and it'll go to the next question but it basically tells me what they pre-qualify

[00:30:33] for.

[00:30:34] Now in the mortgage business just like in any other business you're going to have different

[00:30:38] customers that want different things.

[00:30:41] So your conversation with a first time home buyer is going to be totally different than

[00:30:47] a conversation with a seasoned real estate investor right?

[00:30:51] So what I have is multiple landing pages that actually send people back to my main

[00:30:58] website.

[00:30:59] So I have a landing page for real estate investors and it talks to them in the language that

[00:31:04] they understand.

[00:31:06] I have a landing page for first time home buyers and it talks to them in the language that they

[00:31:11] understand.

[00:31:12] I also have a landing page for entrepreneurs, entertainers and athletes because they have

[00:31:18] different types of income so I talk to them in languages that they understand.

[00:31:24] And so these are three separate landing pages which are one page websites that actually

[00:31:29] grab the attention, they also get me the data I need and then I'll funnel them back to my

[00:31:35] main website.

[00:31:38] But I have a call to action and the call to action on each of these pages is see what you

[00:31:43] qualify for and it doesn't say that exactly but that's basically what it is.

[00:31:48] And they go and they answer about 10 questions and then I get a better understanding of the

[00:31:54] possible customer there and then we'll set up a one on one call.

[00:31:59] But that's creating multiple platforms or landing pages and that's something that you

[00:32:04] guys have to understand.

[00:32:06] You may have a singular product but that singular product may fit for different markets.

[00:32:13] So I talked about this in an episode probably about six months ago when I was selling insoles

[00:32:20] and so my daughters when they were in high school their biggest sport was field hockey.

[00:32:26] So we're going all over the country, you know their AAU teams, their high school teams and

[00:32:31] then my youngest daughter was getting recruited for college but she didn't, she wanted to go

[00:32:36] somewhere else and so we were at field hockey games all the time.

[00:32:41] And so my youngest daughter needed insoles because of her feet.

[00:32:45] So I looked at these insoles and I'm like damn they're expensive, we had to spend like

[00:32:49] $300 for these insoles.

[00:32:52] Then I actually found the same manufacturer on Alibaba and the insoles were only like

[00:32:58] $12 a pair.

[00:33:01] Now I started selling insoles after that because I'm like damn that's a big markup and I know

[00:33:07] a lot of kids that play field hockey or sports are going to need those insoles because of

[00:33:12] their feet.

[00:33:14] And so the conversation I'm going to have with a field hockey player on those insoles

[00:33:19] is going to be totally different than the conversation I have with somebody that's a

[00:33:23] jogger or runner that needs insoles.

[00:33:27] So you want to understand who you're talking to and what are the benefits.

[00:33:32] People want to know what's in it for me, what are the benefits if I use these Jay Jones

[00:33:36] insoles.

[00:33:37] If you're in field hockey right, yep you'll be able to run faster, get to the ball better

[00:33:42] and if you're a midfielder or a forward you'll be able to score more goals.

[00:33:48] If you're a jogger, hey these Jay Jones insoles are great, it'll help you number one comfort

[00:33:54] when you run which makes your times faster, which helps you win races.

[00:33:59] Whatever it may be but there's different language for different customers.

[00:34:04] So you have the same product but you have a different language and that's something

[00:34:08] that you guys need to understand.

[00:34:10] So when you create platforms and they don't have to be super big platforms like I said

[00:34:16] it could be a landing page which is a one page website but everything has to be synergistic.

[00:34:23] So you want to understand the mindset of your customers, same product or service but

[00:34:28] a different conversation and that's where a lot of people mess up when they do business.

[00:34:35] So they have one product but they're talking to everybody, all the possible customers the

[00:34:40] same way.

[00:34:42] And so when we talk about creating multiple platforms this is something that I do in the

[00:34:47] mortgage business.

[00:34:48] You go to a mortgage website and it's going to, all you're going to see is we do this,

[00:34:53] we do that, we do this, we do that.

[00:34:55] Anything you want we do it right?

[00:34:57] How does that make a customer feel?

[00:34:59] It's like man I don't know, I want somebody that specializes in real estate investors

[00:35:05] that's why I have that landing page.

[00:35:06] I want somebody that specializes in first time home buyers that's why I have that landing

[00:35:12] page.

[00:35:13] I want somebody that specializes with entrepreneurs whose salaries are fluctuating that's why

[00:35:18] I have that landing page.

[00:35:21] Multiple platforms.

[00:35:22] Okay now I literally could create websites for each of these platforms but what I found

[00:35:27] worked best for me was a landing page with a quiz on it where they answer several questions

[00:35:33] and then I would drive them back to the main site where then I would set up my call to

[00:35:38] action to either set up a consultation or whatever.

[00:35:43] And I'm not going to get into it, I have a whole bunch of different outcomes once they

[00:35:48] go through this actual quiz.

[00:35:50] So depending upon if they say that they have a 400 credit score then I'm going to direct

[00:35:57] them to one of my credit people.

[00:35:59] Alright there's no need to really get into an in depth conversation because they're not

[00:36:04] ready to buy a crib because the credit is jacked up.

[00:36:07] And so this is why you need a sales system.

[00:36:10] Another thing is based on wherever those prospective customers go I have an email automation system

[00:36:19] that goes out directly to them after the initial quiz that they take.

[00:36:25] So now I have them in my database, I have their name, email address and sometimes a

[00:36:31] phone number.

[00:36:32] I don't make the phone number mandatory but the name and email address are mandatory when

[00:36:37] you sign up and when you want to get the results of your quiz.

[00:36:41] So this way I'm building my database.

[00:36:45] So unlike one of my BEB family members who lost their business because Instagram got

[00:36:51] shut down or their Instagram got shut down, I'm still able to get in contact with my audience

[00:36:57] because I have their name, email address and possibly a phone number.

[00:37:01] So even though I'm using and leveraging social media I still can get in touch with them.

[00:37:07] And that's the key guys.

[00:37:08] So today we're talking about the more media you own the more money you can print.

[00:37:16] Amazon owns media, they're printing money hand over fist.

[00:37:20] Facebook owns a media platform, printing money hand over fist.

[00:37:24] Facebook, Instagram, Meta, whatever you want to call it.

[00:37:27] TikTok, anywhere you're paying for advertising even and this isn't land that you own this

[00:37:34] is land that you rent.

[00:37:36] Some people have large Instagram followers so you could be classified as an influencer.

[00:37:41] Now you're renting that land, you don't own it but people are making money by doing posts,

[00:37:47] you know creating a theme page or whatever and people are paying to get noticed.

[00:37:52] And that's what it's all about guys.

[00:37:54] The more media you own the more money you can print.

[00:37:58] So for example say you had a vegan cookie company but you started a vegan website where

[00:38:06] you have all types of vegan recipes, everything vegan right.

[00:38:11] So now you're getting thousands of people that are coming to your social media that

[00:38:15] you're directing to your website and on your website you have an offer to buy your cookies.

[00:38:21] Now you're advertising literally on a platform that people are interested in for a product

[00:38:27] that you own.

[00:38:29] So you're basically able to advertise for free on your platform right.

[00:38:34] Now you're selling all these dozens of cookies because people are coming for the content

[00:38:39] that you're putting out every week on your website or blog whatever it is.

[00:38:45] It could be a newsletter that goes out weekly, a vegan newsletter with all types of recipes,

[00:38:50] tips and things of that nature and in that newsletter people are, you got an ad in there

[00:38:56] for your cookies and people are actually buying your cookies.

[00:39:00] Now I'm big on newsletters and I got a couple working right now and the beauty about newsletters

[00:39:05] is you can be anonymous, nobody has to know who you are.

[00:39:09] Think about the newsletters that you get right.

[00:39:12] People don't know who the owners of the newsletters are or the producers of the newsletters.

[00:39:16] So if you had a vegan newsletter called Vegan 24-7 right and you have all the type of vegan

[00:39:24] recipes and things like that that vegans want to read then you can sell your cookies with

[00:39:30] an ad in your weekly newsletter.

[00:39:32] Nobody knows the difference, that is you who's creating the newsletter and also running the

[00:39:37] ad for your vegan cookies.

[00:39:40] Man don't get me started on this guys, I'm telling you right now the more media you own

[00:39:45] the more money you can print.

[00:39:47] It's as simple as that.

[00:39:49] Now I say this each and every week guys because it's true, we get more and more downloads

[00:39:54] because of you the BEB family.

[00:39:56] I appreciate you guys so much.

[00:39:58] Please continue to spread the word about the podcast, the new revised website, all the

[00:40:04] ecosystem that's designed to help you elevate your entrepreneur IQ.

[00:40:09] Remember it's not about me, it's not about you, it's about us.

[00:40:12] It's about building an economic power base in the worldwide black community by building

[00:40:17] and supporting black owned businesses.

[00:40:19] Love you guys, see you same time next week.

[00:40:22] Peace.