MBA1291 What Celebrity Chefs Can Teach Us About Making More Revenue

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The vast majority of their wealth was accumulated by leveraging their expertise as chefs to sell products. Now what does this have to do with you? Well, if you're in the service industry, if you're exchanging time for money just like a chef does, whether you're a photographer, an artist, an athlete, a coach of any kind, you need to get off the hamster wheel of exchanging your time for money. If you want to start growing a larger business and start accumulating serious wealth and this is what these celebrity chefs have done, I'm going to give you examples in today's lesson of what they do and how they can produce great products and services with minimal costs on their end. So you could do the same for your business, for your services, even if you've never sold a product before. We're going to get you started today. So let's get into it. Let's get down to business. The celebrity chefs that I mentioned at the top of the episode have made millions of dollars on products. From kitchenware products like pots and pans and utensils, to best selling books, not only cookbooks, but even their own life, their biographies, courses, and tutorials. Gordon Ramsay has a very famous masterclass over@masterclass.com. very popular. And let's not forget chain restaurants. Jamie Oliver has a huge chain of restaurants with his name on it. We're talking about over 60 restaurants worldwide. And is he managing these restaurants? No, they're franchises. So what does this mean for you? Well, if you're in any service industry, if you're exchanging your time for money, whether you're a photographer, an artist, an athlete, a business coach, you need to start leveraging your expertise with products. That way you could stop exchanging time for money and you could start using your own ip, your own intellectual property, your ideas, your brand, your way of doing things at scale. Why would people eat at Jamie Oliver's restaurant? Because they like Jamie Oliver. They like him as a person. They like his recipes. They think he's really good at home cooking, so they're willing to give his restaurant a try. Why would they buy his products like his pots and pans? Same reason. And, hey, if it's good enough for a chef, it should be good enough for me. As somebody who barely knows how to cook, you get the point. So a lot of us, we think that, hey, I'm not a Jamie Oliver. I'm not a Wolfgang Puck. I'm not a Rachael Ray, a big celebrity. So who would want to buy my products? Well, they know that you are an expert. And an expert's just somebody who's an advanced person at something. Somebody who's a little bit ahead of somebody else. I just picked up snowboarding last year. I'm not an expert snowboarder, but somebody who snowboarded for five years is an expert to me. I would love to learn how to snowboard from somebody like that. I'm barely doing blue runs. If you could do a black run, I'd love for you to give me some tips. And when I say tips, I mean more than just content. I'm not talking about just creating a book or a course, but when you put your name on something or recommend a product, that's a tip. That's Saying that, hey, I vouch for this product. If you're looking to buy, in this case, a snowboard, I've been snowboarding for some time. This one is great for those who are getting started. So how can you do the same things that celebrity chefs do in your own business without breaking the bank, without having to, you know, pull these huge franchise deals? One of the easiest ways to do this is through affiliate sales. If you recommend a product, it's almost like you have your name on it. So say, for example, you're a basketball consultant and coach. You normally spend your time in exchange for money. You, you consult and help basketball teams, whether they're at the high school, college level, whatever it is. But you have a blog. You blog about your basketball expertise. You talk about strategy, you talk about training, you talk about weight training. You might even have a video channel on YouTube. Studying film and breaking down what works and what doesn't in modern day basketball. Now all you need to do to start selling product is recommend things to people that read your blog. So, so, for example, what's the best basketball shoe to wear outdoors? And when you link to that product, you use your affiliate link. Whether you're an affiliate of Nike, whether you're an affiliate of Amazon, that's selling those shoes, that's the easiest affiliate system to kind of sign up for. Or you might recommend nutritional supplements or nutritional products. Again, affiliate link. People are reading your blog, they trust your advice and they don't want to go shopping around. They want to go with what you recommend because you are the expert. You're ahead of them. Now you're selling product with, quote, unquote, your name on it. Now guess what? If you become a really good affiliate of a product, those products are going to reach out to you. They're going to say, hey, we want to work together closely. And you might even have your actual name on the product. An example is Pat Flynn from Smart Passive Income. He's a huge affiliate of a Software product called LeadPages, which allows you to create landing pages. And he was such a huge affiliate, they reached out to him and said, hey, how about we create your own landing page with the Pat Flynn name on it? So he literally was selling his own product through LeadPages. He didn't have to create the product, anything like that. They did everything for him, but they used his name and his, you know, popularity of his readers so they can promote lead pages. So becoming an affiliate of a product or just being an affiliate of Amazon is the easiest thing you could do to Start leveraging your expertise and start selling product. The next thing you could do is sell a course. Content is king. People want a shortcut. People want to find out how to do it quickly. Gordon Ramsay's class on Masterclass is one of the best selling classes on Masterclass because people want to learn how to create a few good dishes in the kitchen, impress their friends when they invite them to dinner, and Gordon delivers with that course. So my recommendation to you is get very specific about an outcome that your customer needs or wants. Instead of trying to be the all and end all course for your subject, get specific. So if you're a photographer, instead of focusing on all photography, really focus on how to take great pictures when on vacation with your iPhone or with your smartphone, you know, get very specific. And really, that's a pain point a lot of people have. They want to take great pictures. They don't go on holiday very much. They don't have an expensive camera. And if you deliver a great course that's easy to understand, that is concise, people are willing to spend money on that because those pictures are once in a lifetime. They're not going to go on vacation to that location every day. Somebody saved up to go to Italy for the first time. They want to have some good memories on camera, right? They want to document it, they want to share it on ig. They want to, you know, share it with their friends on Facebook. And if they can take brilliant pictures and you can show them how to do it, that's really all they want to know. They don't want to know how to be a professional photographer. So get specific, create a course and sell it. And you can easily do this with products like Podia. They give you everything you need to kind of host and sell your product. Your online course, full transparency. Podia is one of our sponsors affiliates. You can check them out and get a free trial over@podia.com MBA another simple way to leverage your expertise like a celebrity chef, is to write a book. Writing a book has never been easier. Now with digital publishing, self publishing, it's all really making the time to write it. My advice is when you write your first book, don't make it a huge volume of work. Try to keep it under 200 pages. People love short books. They love something they can read on a flight. There's a book I recently read called Product Led Growth by Wes Bush that I'll be reviewing as a must read coming up very soon. And I loved it because it was short, it was easy to read, and it Just focused specifically on how to use your product to market. So same with the course. Get specific and make sure you make the time to write this thing. Invest a little bit of money to get an editor to edit your copy, to edit your writing and the rest you really can do yourself. Self publishing is very easy with Amazon, and that's a whole different lesson in itself. But writing a book is a great way to make money with something that is out there, that could sell itself and continue to promote you and your brand.

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To wrap up today's lesson, you can get exhausting being on this hamster wheel of exchanging your time for money as a consultant, as a coach, as a photographer, as an artist. It's just not sustainable forever. Plus it's very hard to scale. Yes, you can increase your prices, but for how long and for how much? Start thinking like a celebrity chef. Start selling product. You can do it as an affiliate. Start creating your own courses, write your own book. The beauty about this is that your products start promoting your brand and who you are. People start consuming your product at scale. People start reading your books and it's gonna bump your other services, it's gonna bump your coaching, it's gonna bump your time on stage, getting paid to speak at conferences. It's gonna allow you to get more guest appearances on shows or podcasts. You're only one person. But when people buy your courses and your products and your content, that mobilizes you and allows you to reach a whole lot more people in a lot quicker way. Well, there you have it, guys. Thank you so much for listening to the $100 MBA show. If you love what you hear, hit subscribe right now. And whatever you use to listen to podcasts, whether it podcasts Overcast Tunein. We're on them all. By hitting subscribe, you make sure that when the next episode is released, it's downloaded automatically to your device. Yep, it's that simple. Before I go, I want to leave you with this One of the best ways to know what to start with what kind of product to start with, what kind of course or book is Ask yourself what are you hired for most often? What information? What advice are you asked? What questions are you asked the most? This is a common pain point for your audience, people that you serve. This is actually what you're good at because you've been doing it for so long. Build a course, build a product, build a book, or write a book on those topics. It'll also allow you to serve customers that are below your price range where they can't afford your services. And you can say, hey, even though I can't take you on as a client, there's a great book that I wrote on this topic. Or there's a great course you could take on this topic. It's sort of like self serve. So instead of saying no, you can say, I got something else for you. Thank you so much for listening and I'll check you in tomorrow's episode. Free Ride Friday. I'll see you then. Take care.

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