Black Entrepreneur Blueprint 561 - Jay Jones - The More Media You Own The More Money You Can Print

[00:00:12] Welcome to Black Entrepreneur Blueprint, the number one podcast and resource for Black entrepreneurs. I'm your host Jay Jones and Black Entrepreneur Blueprint was created specifically to educate and inspire Black entrepreneurs to launch, build and grow successful, sustainable businesses. Join us as we help build an economic power base in the worldwide Black community by building 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 us each and every week here at Black Entrepreneur Blueprint. Welcome to the BEB family and get ready to elevate your entrepreneur IQ. Welcome to the Black Entrepreneur Blueprint episode number 561.

[00:01:07] I'm your host Jay Jones and today we have another outstanding and informative show in store for you. Today we're going to be doing a rebroadcast of one of our most downloaded and impactful episodes from June of 2024 titled The More Media You Own The More Money You Can Print. The More Media You Own The More Money You Can Print. Now let's get ready for today's show content.

[00:01:34] Today's show topic is the more media you own, the more money you can print. The more media you own, the more money you can print. To sell your product or service, consumers have to know your product or service exists. If they don't know it exists, that means they can't purchase your product or service. So the question is, do you pay for attention on other media platforms or do you create your own platform?

[00:02:03] And we're going to dive into that today. I'm going to discuss the pros and cons of each approach and then I'm going to give you five steps to create a profitable platform that you own. That's the key word, ownership. Not renting, but a platform that you own. Now, before we get to today's content, let me just share a few things with the Black Entrepreneur Blueprint family. First and foremost, I want to welcome all first time listeners. Welcome to the BEB family.

[00:02:33] Please stick around until the end of today's broadcast. And I'm going to share all my social media contact information and resource links, such as the link to the new revised revamped BEB Academy. Go to newbebacademy.com. This is our online learning portal with live group coaching, workshops, masterclasses, and all types of resources to help you elevate your entrepreneur IQ.

[00:03:00] Go to newbebacademy.com for more information. Now let's dive into today's show content. The more media you own, the more money you can print. So today I'm going to discuss the power of owning your own media platform. And I'm going to give you five steps to build your own platform. We're not talking about Facebook or Instagram. All of that stuff is rented land. You want to build your platform on something that you own.

[00:03:29] And here's the key phrase for today, guys. Leads are simply a function of movement into traffic sources that you own. This is what a lead is. And the importance of leads are guys, is that you can't sell anything without having consistent qualified leads to sell to. I say this all the time. No leads equals no sales equals no business.

[00:03:53] And for the life of me as a serial entrepreneur for 25 plus years and a business coach for 20 plus years, I can't understand why every business doesn't have a lead generation system. But I want to start off today's conversation by repeating this sentence. And this is a key sentence that you need to remember. Leads are simply a function of movement into traffic sources that you own.

[00:04:23] That's the best form of leads. Movement into traffic sources that you own. Your traffic source could be a podcast. It could be a blog. It could be a newsletter, whatever. Something that you own, not something you rent. Okay. So if you own your media company, guys, you can basically generate leads for free. So this is a long game move and it takes time to get there. But this is where you should be headed. Okay.

[00:04:53] This should be your goal and objective. And I'm going to give you some real life examples. And I'm going to give you five steps how to build that platform. I talked about rented land and owned land. So rented land is social media. You don't own and control social media. And I want you guys to truly understand the gravity. If you build your business solely using or on social media.

[00:05:17] So I don't care if it's Instagram, Twitter, Facebook, Tick Tock, LinkedIn, whatever it is, you don't own that. And the owners of those platforms can kick you off. I told the story and I'm going to give you a brief version of this right now. I had a BEB family member that I was actually mentoring. They had all of their business information. They did all of their sales on Instagram. One of their competitors wanted to knock them out of the box.

[00:05:47] And what they did was they got their Instagram followers to complain about the BEB family members Instagram. The account got shut down multiple times, three, four or five times. And they were never able to get that traction back up. Now you use social media to build your database. And we're going to get into all of that in a little bit. But what we're discussing today, the more media you own, the more money you can print.

[00:06:17] Now, don't get me wrong when I talk about social media as rented land. Now you want to leverage social media so you can drive people to your flywheel or your ecosystem where you get their information so you can continue to market to them. Okay, be it whatever platform or platforms you like to post on or run ads on, then go ahead and do that. But you want to drive them to your platforms.

[00:06:42] And in order to do that, you need to grab key pieces of information, name and email, and preferably if you can, a phone number where you can do text and SMS messaging. So I'm not poopooing social media, but that's not where you want to build your house. You want to build your house on your own platform, which you own and not rented land. So first we're going to talk about what is a media buyer?

[00:07:10] Uh, what is a media owner and how do you create your own platform? And I'm going to break it down from media buyer perspective and a media owner perspective. So what is a media buyer? A media buyer is a person or business that pays for media exposure on an established media platform. Okay. So what you're doing is you are paying for exposure on a platform.

[00:07:36] So if you advertise on Facebook or Instagram, then you are a media buyer. If you advertise on Twitter or Google or whoever else or wherever else you advertise, you are a buyer of media. You can be a buyer of media for a small company, or you can be working in the marketing department of a large company and buy hundreds of thousands of dollars of media each month.

[00:08:01] It doesn't matter because you're buying or paying to be on somebody else's platform. Now let's talk about the pros and the cons of being a media buyer. And let me first jump back and tell you about the three forms of media. There's paid media, earned media and owned media. Paid media is what we're talking about when you're a media buyer. You're spending money to be on somebody else's platform.

[00:08:30] Earned media is when you earn the right to be on somebody's platform for no money. So a black enterprise wants to write a story about you and put it on their website. That's earned media. If your local newspaper wants to do a story on you and they put it in the local paper, you don't pay them anything. That is earned media. That's hard to get. Okay. Unless you're super popular and you devote a lot of time and have a PR person or PR department to help get that earned media.

[00:09:00] And then there's owned media, which is a media platform or platforms that you own. So earned owned and paid. So we're going to talk about paid. What is a media buyer or buyer or a person or business, excuse me, that pays for media exposure on an established media platform. Here are the pros. Number one, you can buy media anytime you need to.

[00:09:26] So if you have a new product coming out or new service or you're a new business, you can go ahead and invest money in Facebook or Instagram or whatever. And you can buy media anytime that you want. Right. That's a pro. Also, another benefit of buying media is you can scale by buying media. So if you want to scale and ramp up, if you see that your ads are working, then you invest more money in that media ad spend and you make more money.

[00:09:56] Revenue. Okay. Those are some of the pros. Now, let's talk about the cons of being a media buyer. Number one, it costs money. Right. And guess what? A lot of new entrepreneurs don't have is money. Right. So you have to understand that you're going to need money to invest if you're going to buy media. Another con is that your ad may not be profitable.

[00:10:23] So you always want to be profitable when you invest in advertising spending. So if you're spending a thousand dollars a month in Facebook ads and you're only making $200, that means you're losing $800 a month. Now, how many months can you continue to do that? That's another con of paid media. Also, you have to be a space has to be available or you have to get approved to advertise on specific platforms.

[00:10:53] So, for example, I was looking at a newsletter to advertise on and I wasn't able to advertise a product in the newsletter because they said that they didn't. They didn't take that take that type of advertising. So the cons are it costs money. Your ad has to be profitable unless you just got money to blow and the space or has to be available for you to advertise. And that's what a media buyer is.

[00:11:22] There's pros and cons. Now, on the flip side, what is a media owner? And that's a person or a business that creates and owns their own media platform. So media buyer, you're spending money. Media owner, you're making money. OK, look at some of the pros and some of the cons. Pro number one, you own and control the media platform. So just think about when you're advertising on these other platforms.

[00:11:51] Just imagine if you didn't have to pay anything. Right. You'd be on all the platforms you can't. You could be. And we're going to talk about some of the platforms that you can create in a little bit later in the show. So you own and control the platform. Another pro is you can advertise on your own. So, for example, with Black Entrepreneur Blueprint, this is my podcast. I advertise a lot of my own products and services at right at the beginning of the show. The new B.E.B. Academy, revise, revamp.

[00:12:21] Go to new B.E.B. Academy dot com. I'm not paying for that because this is my platform. This is my podcast. I own this. I don't rent this land. I own this land. And I'm advertising directly on my platform. Another benefit is it's free. Right. It's free.

[00:12:41] Now, I have people that advertise on the show and they spend thousands of dollars to advertise on the show to connect with my audience, with the B.E.B. family. So it's free. Also, another benefit is you can make money on your platform by selling ad space and leads. OK, so I'm selling ad space. I'm making money.

[00:13:05] Say I contract out or I decide to run ads for mortgage or the mortgage business. Right. So I'm back in the mortgage game, but I'm only licensed in like 12 states. So say I get somebody that wants a mortgage if I'm advertising on B.E.B. on the podcast and it's in a state that I don't actually have license or have a license in. So what I can do is I can say, hey, I got this lead here.

[00:13:34] John Brown is looking to buy a seven hundred thousand dollar house in Nebraska. I can find a mortgage broker in Nebraska and sell him that lead and make money. So there are all types of benefits to owning your own media platform. Now, let's talk about some of the cons because not everything is all sweet. Right. There's some negatives to everything. Number one, it takes time to build a platform. So with this podcast is going on 10 years, 520 episodes.

[00:14:04] So it takes time. OK, it's the long game. It's not the short reward. It's the long game. Another kind is you have to create or curate content on a regular basis to get traction. Every week I have to come out with a new B.E.B. episode. So I've done it 520 weeks in a row. Never missed a week. But you have to create or curate.

[00:14:30] Bring another content on a regular basis so you can get traction. OK, so those are some of the cons of having your own media platform. Before we get into the five steps on how to build your own media platform, I just want to tell you guys a story that I did years ago. And I created a platform that I actually was selling my own stuff on the platform and was making money.

[00:14:58] OK, so years ago, I don't know if you guys are familiar with money mailer. Right. Used to get these coupons in the mail and it'll be a whole stack of coupons. I don't even I think they're still around. Actually, I think I did see one at my house, so I don't know how they're still in business. But I created a money mailer for black folks and I had it going nationwide.

[00:15:22] So the reason I started it and I'll give you the impetus of the actual project. The reason I started it was is I had an alarm business. I was an ADT dealer in the Philadelphia area. I had two locations, Philly and South Jersey. And so back in the day before Internet, direct mail was the thing. So I started investing in direct mail going to houses and that thing, you know, was getting expensive.

[00:15:49] So I said, man, who else wants to be able to get to these same homeowners? And how am I going to be able to leverage that so it can reduce my cost? So I started looking at home improvement people, people that did lawn care, paving, power washing, asphalt, all types of home improvement, handyman stuff. And the first I created a small little newsletter that I would mail out once a week.

[00:16:15] And in that I would have about six or seven different advertisers in it. Now, what did that do for me? Now, I own the platform. So now I actually was making money from the actual mailing and I was still getting customers for free. So, yeah, my cost of mailing and printing was absorbed by the other five or six advertisers that I had in the in my promo in my flyers. So now I created a platform.

[00:16:45] I took it even bigger than that, guys. Didn't last long because everything was changing. But I created a national direct mail piece like money mailer to the top 10 urban cities in the country. And I was mailing hundreds of thousands of mailers. And I had customers such as DirecTV and a lot of national companies.

[00:17:08] So I was mailing to affluent black households in the top 10 metropolitan areas of the United States. And I did that for about a year and a half and made great money. But that was a platform that I created. The name of the national mailer program was called Heritage Direct Mail. And what it was was it was a yellow or gold envelope. And inside were all of the advertisers.

[00:17:35] And on the outside, the logo was a picture of the United States, but it was red, black and green. And so that was my thing. And I was doing great business. But after a while, you know, Internet came and that basically shut that down. But once again, it's about building a platform. Black Entrepreneur Blueprint, the podcast, that's a platform I own. Heritage Direct Mailer. That was a platform that I owned. So think about this, guys.

[00:18:02] How much sense does it make to be able to advertise and market your product for free? And in my case, I'm making money doing it. With the podcast, it doesn't cost me anything. And I have advertisers on the podcast. So I make money from that. And also with the Heritage Direct Mail, make money with that too. And I was basically tagging along, adding my ADT security system advertisements for free.

[00:18:33] So that's why you want to own your own media. Now, let's talk about steps to owning your own media. Not rented media, but owned media. And I'm going to give you some examples of land that you own or media that you own. A podcast. Nobody can stop Jay Jones from dropping his podcast. The only thing that will stop me is if I don't pay my host. Okay, which is Libsyn. Now, as long as I pay my host, nobody can stop that.

[00:19:02] A newsletter, right? If you have a direct newsletter, email newsletter. There are crazy newsletters out there right now making thousands, hundreds of thousands, millions of dollars. Okay, a month with newsletters. You own that. Nobody can stop you. Websites. You have a blog or whatever. Websites. Nobody can stop that. Once again, the only thing that can stop you is if you don't pay your hosting bill.

[00:19:29] Okay, we also have blogs. Now videos. You can own the videos if they're on your platform. YouTube obviously is the number two search engine out there. Problem is if you have a YouTube channel, you can get shut down from YouTube. So that's rented land. And remember guys, I said you want to use social media and these other platforms to drive traffic to build your own database and send people to your own platform.

[00:19:58] Remember, Instagram is not a platform you own. Twitter is not a platform you own. Facebook is not a platform you own. TikTok is not a platform that you own. LinkedIn is not a platform that you own. And wherever else you are on social media, Snapchat, whatever else it is, you do not own that. But you want to leverage it. Now let's talk about five steps on how to create your own platform.

[00:20:27] You want to create it on owned ground, not rented land, but owned land. Okay. Number one, step one, use content and social media to drive traffic to your own media platform. And that's what I talked about leveraging social media.

[00:20:44] So let's just say you own a mortgage company and you start putting up mortgage content on Instagram, but you're sending people over to your website to get a quote or set up a free consultation. That's great. So use content and social media to drive traffic to your own media platform. Now with my podcast content every week, there's new content on black entrepreneur blueprint.

[00:21:11] So number one, use content and social media to drive traffic to your own platform. Step two, determine what type of media you want to want to own. And then you create it. What type of media platform or platforms do you want to own and then create it? Remember, it could be podcast. It could be a newsletter. It could be a website. It could be a blog. It could be landing pages, whatever it is.

[00:21:38] But you have to determine what type of media you want to own and then you create it. Number three, create useful content for your audience on a consistent basis. We talked about that. I haven't missed a week in 520 weeks. That's 10 years straight. You've got some new heat from Jay Jones and black entrepreneur blueprint. Now you may have a couple of rebroadcasts if I'm traveling or if I'm sick or whatever like that.

[00:22:06] But 520 weeks, I might've done in those 10 years, maybe 15 rebroadcasts, 20 at the most out of those 520 episodes. So, step number three, create useful content for your audience on a consistent basis. Step four, this is big guys, create a monetization plan and develop product ideas. Create a monetization plan for your platform.

[00:22:36] So, remember guys, there's only six type of things that you can sell. Your physical products, your digital products and your services or somebody else's physical products, somebody else's digital products or somebody else's services. So, I have, you know, the BEB Academy new and revolutions. So, I have a lot of different things that you can sell. So, what is your monetization plan? And do you have products developed? Are you going to use your products or services?

[00:23:04] Or are you going to use somebody else's, which we would normally call affiliate products or services? So, for example, with the podcast, everything or pretty much everything that I advertise is one of my products or services. So, I have, you know, the BEB Academy new and revised. I have online courses. I got books. I got ecosystems. I got templates. I got all types of things.

[00:23:30] So, that's part of my monetization structure or plan for the podcast. Okay. Now, if you don't have any products or services to sell, you can always start off with affiliate products. And these are products or services that you recommend to your audience. And when they buy, you get a commission or a certain percentage of that sale. That's a great way to start.

[00:23:55] Now, if you're a real smart entrepreneur, what you'll do is you may want to start off with affiliate products or services if you don't have any. Then, if you notice that, hey, this product is selling, then you go out and create your own product. Okay. And that way you make more of the money. That's a whole nother different podcast. But that's step number four, create a monetization plan and develop your product ideas.

[00:24:20] And the last step is step number five, create a marketing flywheel and a lead generation system. And so, they're almost interchangeable. Your lead generation system, guys, is a system that's going to give you a predictable amount of leads every day consistently. So, you have qualified customers to talk to or people to put in your database. Okay. And this is the biggest thing.

[00:24:47] So, a flywheel is just all the other stuff that's around in your ecosystem. So, for example, in my mortgage business, I have a different Instagram for my mortgage business. What I'll do is I'll take a piece of content and put it on Instagram. I'll also write a LinkedIn post about it. And then I may do a short email that I distribute to my mortgage list.

[00:25:13] So, now I'm taking one piece of content and I'm creating multiple pieces that's called a part of a flywheel. And then that helps with lead generation. And then I send them to a particular page or particular action, call to action. What is the action? Once you see this Instagram video, click the link in the bio to download, you know, the PDF or whatever it is. Click the link in the bio to watch this short video.

[00:25:40] Whatever it is, you have to have a call to action. Step five, create a marketing flywheel and lead generation system. I'm going to go over these real quick again. And then we're going to hit to the last segment of the podcast. These are steps to create your own media platform. Step one, use content and social media to drive traffic to your own media platform. Step two, determine what type of media you want to own and create it.

[00:26:08] Step three, create useful content for your audience on a consistent basis. Step four, create a monetization plan and develop product ideas. Step five, create a marketing flywheel and lead generation system. This is how you do it guys. The more media you own, the more money you can print. And I'm going to talk about multiple platforms in this last segment.

[00:26:33] But before I get to the last segment, let me just share all my social media contact information and resource links with you real quick. Everything I'm about to tell you guys is on the website blackentrepreneurblueprint.com. I mentioned at the top of the show, the new revised revamp BEB Academy is live. That's our online learning portal with master classes, workshops and all types of resources to help you elevate your entrepreneur IQ.

[00:27:01] Go to new B E B Academy.com for more information. Now, if you want to connect with me anything long family, hit me on my email. Jay Jones at black entrepreneur blueprint.com. J A Y J O N E S at black entrepreneur blueprint.com. Facebook black entrepreneur blueprint. YouTube. Go to YouTube guys and type in black entrepreneur blueprint. Hit that subscribe button. Hit that subscribe button. I have additional content on YouTube. That is not on the show.

[00:27:31] Yes, the show does come out on YouTube. Also Instagram. I have two IG accounts. The first one is Jay Jones for real. J A Y J O N E S. The number four. R E A L. Second one is black entrepreneur blueprint. Twitter. Hit me on Twitter. Jay Jones zero zero one. J A Y J O N E S zero zero one. And LinkedIn. Just type in Jay Jones black entrepreneur blueprint.

[00:27:58] Now don't forget to go and check out the website guys. We spend a lot of money and time to revigorate the website and we have all types of resources that are free that you can utilize. So go to black entrepreneur blueprint.com hit the learn tab and in that drop down we have resources on all types of things that you need to grow your business. Scaling your business marketing e-commerce side hustles. Everything you need to help elevate your entrepreneur IQ.

[00:28:28] Go to black entrepreneur blueprint.com and make sure you utilize the website and the free resources. Now let's jump into this last segment real quick. And we're talking about the more media you own the more money you can print. So I want to give you an example of a platform like a popular website or blog. I don't know if you guys have ever heard the penny hoarder. The penny P E N N Y hoarder. H O A R D E R.

[00:28:58] It's a personal finance blog that actually provides advice on saving money earning extra income and managing your finances. Now in 2020 the website sold for 102 million dollars. 102. It sold for 102 million dollars. It is a platform that somebody created to talk about personal finance. Has anybody ever heard of the nerd wallet?

[00:29:26] N E R D W A L L E T dot com. Nerd wallet makes over 590 million dollars per year. And it's a platform that has financial information and rates for mortgages, loans, credit cards, and all of that type of stuff. But they do they actually went public. They had an initial public offering several years ago. And 2023 I believe they made 599 million dollars.

[00:29:54] And this is from a platform. This is why you need to create platforms guys. So number one you have complete control over the platforms. And number two if you go in and set it up right. You can possibly exit from the platform. Now I talked about creating multiple platforms. Sometimes it can be as simple as creating multiple landing pages. And here's a real life example that I do with my mortgage business.

[00:30:22] So I have a standard my standard mortgage website that's designed to generate quotes or not quotes. But for people to go in and they can actually take a quiz. Kind of like a lending tree page where what type of mortgage are you looking for? You know, are you first time home buyer? Where you trying to buy the house? Ba-ba-ba-ba-ba-ba. It's a series of questions that they go through. And it's like on a slider. So they can click it and it'll go to the next question.

[00:30:50] But it basically tells me what they pre-qualify for. Now in the mortgage business just like in any other business. You're going to have different customers that want different things. So your conversation with a first time home buyer is going to be totally different than a conversation with a seasoned real estate investor, right? So what I have is multiple landing pages that actually send people back to my main website.

[00:31:19] So I have a landing page for real estate investors and it talks to them in the language that they understand. I have a landing page for first time home buyers and it talks to them in a language that they understand. I also have a landing page for entrepreneurs, entertainers and athletes because they have different types of income. So I talk to them in languages that they understand.

[00:31:44] And so these are three separate landing pages, which are one page websites that actually grab the attention. They also get me the data I need and then I'll funnel them back to my main website. But I have a call to action and the call to action on each of these pages is see what you qualify for. And it doesn't say that exactly, but that's basically what it is. And they go and they take and they answer about 10 questions.

[00:32:11] And then I get a better understanding of the possible customer there. And then we'll set up a one-on-one call, but that's creating multiple platforms or landing pages. And that's something that you guys have to understand. You may have a singular product, but that singular product may fit for different markets. So I talked about this in an episode probably about six months ago when I was selling insoles.

[00:32:41] And so my daughters, when they were in high school, their biggest sport was field hockey. So we're going all over the country, you know, their AAU teams, their high school teams. And then my youngest daughter was getting recruited for college, but she didn't. She wanted to go somewhere else. And so we were at field hockey games all the time. And so my youngest daughter needed insoles because of her feet. So I looked at these insoles and I'm like, damn, they expensive.

[00:33:09] We had to spend like $300 for these insoles. Then I actually found the same manufacturer on Alibaba and the insoles were only like $12 a pair. Now, I started selling insoles after that because I'm like, damn, that's a big markup. And I know a lot of kids that play field hockey or sports are going to need those insoles because of their feet.

[00:33:34] And so the conversation I'm going to have with a field hockey player on those insoles is going to be totally different than a conversation I have with somebody that's a jogger or runner that needs insoles. So you want to understand who you're talking to and what are the benefits. People want to know what's in it for me. What are the benefits if I use these Jay Jones insoles? If you're in field hockey, right? Yep. You'll be able to run faster, get to the ball better.

[00:34:03] And if you're a midfielder or a forward, you'll be able to score more goals. If you're a jogger, hey, these Jay Jones insoles are great. It'll help you. Number one, comfort when you run, which makes your times faster, which helps you win races, whatever it may be. But there's different language for different customers. So you have the same product, but you have a different language. And that's something that you guys need to understand.

[00:34:31] So when you create platforms and they don't have to be super big platforms, like I said, it could be a landing page, which is a one page website. But everything has to be synergistic. So you want to understand the mindset of your customers, same product or service, but a different conversation. And that's where a lot of people mess up when they, when they do business.

[00:34:55] So they have one product, but they're talking to everybody, all the possible customers the same way. And so when we talk about creating multiple platforms, this is something that I do in the mortgage business. You go to a mortgage website and it's going to, all you're going to see is we do this. We do that. We do this. We do that. Anything you want, we do it. Right. How does that make a customer feel? It's like, man, this is, I don't know.

[00:35:22] I want somebody that specializes in real estate investors. That's why I have that landing page. I want somebody that specializes in first time home buyers. That's why I have that landing page. I have, I want somebody that specializes with entrepreneurs whose salaries are fluctuating. That's why I have that landing page, multiple platforms.

[00:35:42] Okay. Now I literally could create websites for each of these platforms, but what I found worked best for me was a landing page with a quiz on it where they answered several questions. And then I would drive them back to the main site where then I would set up my call to action to either set up a consultation or whatever. And I'm not going to get into it. I have a whole bunch of, uh, different outcomes once they go through this actual quiz.

[00:36:11] So depending upon if they say that they have a 400 credit score, then I'm going to direct them to one of my credit people. All right. There's no need to really get into an in-depth conversation because they're not ready to buy a crib because the credit is jacked up. And so this is why you need a sales system.

[00:36:31] Another thing is based on wherever those prospective customers go, I have an email automation system that goes out directly to them after the, the, the initial quiz that they take. So now I have them in my database. I have their name, email address, and sometimes a phone number. I don't make the phone number mandatory, but the name and email address are mandatory when you sign up and when you want to get the results of your quiz.

[00:37:01] Okay. So this way I'm building my database. So unlike one of my, my B E B family members who lost their business because Instagram got shut down or their Instagram got shut down. I'm still able to get in contact with my audience because I have their name, email address, and possibly a phone number. So even though I'm using and leveraging social media, I still can get in touch with them.

[00:37:27] And that's the key guys. So today we're talking about the more media you own, the more money you can print. Amazon owns media. They're printing money hand over fist. Facebook owns a media platform, printing money hand over fist, Facebook, Instagram, meta, whatever you want to call it. TikTok, anywhere you're paying for advertising, even in this isn't land that you own.

[00:37:55] This is land that you rent. Some people have large Instagram followers, so you could be classified as an influencer. Now you're renting that land. You don't own it, but people are making money by doing posts, you know, creating a theme page or whatever. And people are paying to get, get noticed. And that's what it's all about guys. The more media you own, the more money you can print.

[00:38:18] So for example, say you had a vegan cookie company, but you started a vegan website where you have all types of vegan recipes, everything vegan, right? So now you're getting thousands of people that are coming to your social media that you're directing to your website. And on your website, you have an offer to buy your cookies.

[00:38:41] Now you're advertising literally on a platform that people are interested in for a product that you own. So you're basically able to advertise for free on your platform, right? Now you're selling all these dozens of cookies because people are coming for the content that you're putting out every week on your website or blog, whatever it, whatever it is.

[00:39:05] It could be a newsletter that goes out weekly, a vegan newsletter with all types of recipes, tips, and things of that nature. And in that newsletter, people are, you got to add in there for your cookies and people are actually buying your cookies. Now I'm big on newsletters and I got a couple working right now. And the beauty about newsletters is you can be anonymous. Nobody has to know who you are. Think about the newsletters that you get, right?

[00:39:31] People don't know who the owners of the newsletters are or the producers of the newsletters. So if you had a vegan newsletter called Vegan 24-7, right? And you have all the type of vegan recipes and things like that that vegans want to read, then you can sell your cookies with an ad in your weekly newsletter. Nobody knows the difference. That is you who's creating the newsletter and also running an ad for your vegan cookies.

[00:39:59] Man, don't get me started on this, guys. I'm telling you right now, the more media you own, the more money you can print. It's as simple as that. Now, I say this each and every week, guys, because it's true. We get more and more downloads because of you, the BEB family. I appreciate you guys so much. Please continue to spread the word about the podcast, the new revised website, all the ecosystem that's designed to help you elevate your entrepreneur IQ.

[00:40:29] Remember, it's not about me. It's not about you. It's about us. It's about building an economic power base in the worldwide black community by building and supporting black-owned businesses. Love you guys. See you same time next week. Peace.