Hello everyone!
I will be covering the best takeaways from the book I'm reading with the CTP Mastermind Group.
To know more about the book, you can click on the image above and it will redirect to its main website, or just follow me for the next few posts!
Part 7 is about diversification. After you have a very stable foundation, good audience size and revenue, you can start thinking about how to branch out.
You built the model and are reaping the rewards with new subscribers and audience loyalty. Now is the time to diversify your portfolio and stake your claim as the leading voice in the industry.
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The reason I choose this one is that some people tend to acquire and launch a variety of programs and products to everyone almost without any time interval and hoping they are generating a new source of revenue.
But to take your business to the next level, you need to start building extensions beyond the base that create new revenue opportunities, but with a warning. If the audience for your base hasn't had enough time to truly trust you and your content, quickly building out an extension can be catastrophic.
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The point is this: definitely launch brand extensions with new revenue opportunities as quickly as possible, but not until you believe your audience will support it.
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What's the point in building a new thing if you even haven't build a solid audience in the first place?
Blogging sites and media companies want and need two things: The first is the capability to tell stories. They have the people and processes to consistently churn out amazing content. The second, and maybe more important, is that blogs and media sites come with built-in-audiences.
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I wonder if there is such a platform that combines the two...
It is a good thing to start with one focus on building a good base in content and audience and eventually build your own business/program/product from the experience you have got so far.
But it will reach a point that you will want to go to the next level, to branch out, to diversify.
From creating posts I went to doing videos and later on built my program to help others in something I'm an expert on. I feel that I'm still building my audience but I'm always thinking of other ways to diversify myself and gathering ideas.
The main thing is, don't stop, keep moving!
Even if you are good with what you have right now, why stop there?
So many things you still can do while you're alive :)
That's about it for today!
Are you reading the book?
Join me and let's exchange the best takeaways from it by commenting below!
See you next time!
