MBA2216 The One Thing That Will Help You Make More Revenue in 2023

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Hey, welcome to the $100 RMBA show.

The place to be to build a business you want every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher, Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started with my co founder back in 2014.

And in today's lesson, you will learn the one thing that will help you.

Make more revenue in 2023. I'm going to give you a strategy that has helped me throughout my career as an entrepreneur that builds a business that makes more revenue every single year. Now, I got to warn you, it's.

Simple, but it's not necessarily easy. It's going to take some effort. It's going to take some focus. And those of you who are successful.

With this strategy are those who stick to it for the whole year.

So let's get into it.

Let's get down to business. All right, I promised you one strategy, one thing that you can do throughout this year to grow your revenue. And I want to start with something I learned from Seth Godin about a decade ago.

He said one time that the easiest.

Way to become successful as an entrepreneur is to become famous.

He kind of said it tongue in.

Cheek, but he's not wrong. When you grow an audience, when you grow a following of people that love what you do, it's almost impossible for you to lose. And the more you grow this following, the more your revenue grows. Because it's a numbers game.

If you have an email list of.

A thousand fans and you Ask them to buy one of your products or services in an email. A good percentage of them will buy.

Now imagine that list is 2,000 or 20,000 or 100,000.

So working on your audience, working on growing the people that follow what you.

Do, is like the best investment you could ever do for your business, because then you can always tap into that.

To promote your new products, your new services, your existing services, your existing ideas, whatever it may be.

So what do you got to do every day? Well, they say content is king. You got to have content out there. And that may be true, but the.

Strategy behind that kind of advice is usually really bad. Where they're like, you got to post everywhere.

You got to be on TikTok and Facebook and Instagram and Snapchat, and you got to have a YouTube channel and podcast and a blog and a Facebook group. And I can go on and on.

And on and on.

The fact of the matter is that.

Most of the people that are successful in business, that have large audiences, even those who preach this advice, don't actually practice this advice.

This is not actually what makes them successful. In fact, I'm going to give you a whole bunch of examples in today's.

Episode of the Opposite is what's true. And what I mean by that is if you want to grow an audience, a following that really loves what you do, and you want a concentrated effort to grow that following quickly, then you need to focus on one medium.

See, when you try to be everywhere, you're basically nowhere, Meaning you are spreading your energy thin. You need to choose one form of.

Media, one channel where you can just go at it day in and day out. So every single day, you're working on putting out great content and providing great.

Value to the people that you want to attract.

You're helping people, you're entertaining people, you're advising people, whatever it may be. But it's very hard to get traction.

And build this audience if you're trying to do it everywhere. The problem is that people see already.

Highly successful people everywhere and think, oh, that's where they started. No, I'll give you a good example. One of the biggest YouTubers out there is Mr. Beast. He's got millions and millions of followers on YouTube. YouTube is how he built his audience. He focused on YouTube, he studied YouTube.

He spends hours on adjusting his thumbnails and making sure he's split, testing things to make sure the algorithm is liking the videos. He's investing a lot in the production, in the ideas. He's trying to top himself every single Time.

But he went all in on YouTube and that's how he became Mr.

Beast. That's how he became successful. Now, yes, he's got a big following.

On Twitter and on Instagram and TikTok.

And all that stuff now, but that's.

Because he is a successful YouTuber now. He focused on YouTube and then once he had that platform and the huge.

Audience, it was easy then to say.

Hey, follow me on Twitter and grow that following there. Let me give you another example. Tim Ferriss. Tim Ferriss is well known for his very popular books like the Four Hour Workweek. He's an author, those are his products.

But Tim started with a blog.

He started with one subscriber and now.

He has millions because he focused on.

Growing an incredible blog with his regular newsletter, his 5 Bullet Fridays. That's his bread and butter. He took that blog success and launched a podcast.

But he started with the blog and had some traction there, has an audience.

What I'm encouraging you to do is to choose one medium, one channel where you can just go all in. If you like to write. Maybe it's blogging, especially if it's long form writing, maybe if it's short form writing, maybe you want to go all in on Twitter. If you like videos, maybe you want to start a YouTube channel, maybe you like short form videos. So maybe you go into TikTok, or.

Maybe you're like me who loves the.

Podcast and loves the audio medium and go all in on that. That's what I chose over eight years ago. And every day I go and work on this thing because I know if I add more value to the podcast, if I continue to put out good content that my audience loves and potential audience, people that will discover me later, then they will check out what I do, my products, my services. It's an audience I can lean on for years to come. So your job, and this is part of the hardest part of it, is choosing.

You gotta choose. But the second step is to commit. You gotta commit for the rest of the year, the next 12 months.

You need to commit to producing great content on a regular basis with that medium. Whether that's writing two or three blog posts a week on your blog. If you choose blogging, or maybe it's two episodes on your podcast every week, or maybe posting a new video every week with YouTube, or you could do.

What Casey Neistat did, publishing a daily vlog for years. But you gotta commit.

So choose the medium that you feel like you enjoy the most. Because when it gets hard to stick.

To your Publishing schedule.

You gotta be able to lean into your strengths and something that you actually don't mind so much by doing this every single day, working on it, not only will you have great content, and you start building a library of incredible value. You're gonna get better, right? You're gonna get great at whatever you're doing, whether it's writing or creating videos or photography. If you're gonna go all in on.

Instagram, whatever it is, you're gonna skill up very quickly because you're being consistent and you're sticking to it.

Now, my suggestion is to put it in your calendar, your actual calendar that you follow every day. You look at your calendar. What am I gonna do today? Time block. When you're gonna be working on this consistent activity, because you're gonna do other things in your business, right? You gotta create your products and services and sell and all other stuff, right? This has got to be something where you're going to just dedicate X amount of time every single day, every day. It doesn't mean you have to publish every day. But say, for example, I'm creating a video once a week. I got to be able to shoot.

The video, edit the video, create the.

Thumbnails, maybe add the music, do the SEO and the descriptions.

All that takes time.

So maybe I want to break it up and do a little bit of it every single day. But the reason why I want you to do it every day, at least five days a week, on the days you work, is that momentum matters, okay? When you do something every single day, day, it becomes a habit. It becomes something that you're strengthening on a regular basis. For example, one of the reasons why I wanted to do a daily podcast.

Is because I wanted to add consistent.

Value to my audience every single day. But also I wanted to get better at podcasting quickly.

I realized if I did a podcast.

Episode once a week, that'd be good.

On all, but it would take me about a year to publish 50 episodes.

Or have 50 chances to get better with a daily podcast five days a week. In two months, I'm at 50 episodes, pretty much. So it's really, really great to get in the reps so that you can get better. So work on this daily task of building your audience with great content in your happy medium, whatever that is, every single day.

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This is like the best gift I can give you is this piece of advice is consistently building great content on one platform for your audience. Now, the reason why I encourage the one platform is that by focusing on one platform, whether it's Twitter or Instagram or podcasts like Apple Podcasts or YouTube or whatever it might be, you focus all your efforts on one place, meaning you have a higher likelihood of success.

In competing with others.

Because I'm spending all my time on making sure people are subscribing to my show, are giving me ratings and reviews on Apple Podcasts is what I focused on early on in my podcast career. Now we're working on Spotify and Apple Podcasts, but I'm eight years in. The point here is that for me, when I started podcasting and really working hard and doing well on Apple podcasts, I was able to dominate that platform because all my effort to market and to do better and to rank well and to grow the podcast was focused on one platform.

It's hard for you to be good.

At everything, to understand every platform. It's hard for you to, you know, know everything you need to know to do well on YouTube and then also crush it on TikTok. Those who have done well with YouTube.

Really just focus all in on YouTube.

Because things change constantly. There's things you have to learn beyond than just your craft, just how the platform works and how to take advantage of its features and its algorithm and.

Also to serve that platform and become a respected member of that community. If You're a great YouTuber and you're.

Putting out great content and you're working really hard on YouTube, YouTube will recognize that and they will be thankful and.

Be like, hey cool, this person really.

Is a great creator on our platform, they're an ambassador of YouTube, for example.

So this is important.

Focus on the platform, focus on one thing, one area, one medium, so that you can get some traction.

So after this episode, I want you.

To open up your calendar and pop in when you're going to be working on your medium. We've already established you've got to choose.

What kind of content you want to do and which platform you're going to use. Once you've done that, take action, put.

It in your calendar so you can start putting in the work.

Thanks so much for listening to the $100 MBA show.

If you love what you hear, you know it.

Hit subscribe, hit follow, and leave us.

A rating and review on your favorite podcast app, whether it's Apple Podcast or Spotify. Leave us a review. We would love that. I read every single review. I appreciate every single rating, and it helps get the show exposure and reach new listeners. So thanks so much in advance for that. Before I go, I want to leave you with this. One of the things I didn't touch on is by focusing on one platform, on one place to build your audience, you become an authority there. So, for example, for me, podcasting is my place.

So therefore, I get invited to speak.

At podcasting conferences constantly. I get asked to teach workshops at different institutions.

I even get people asking me, hey, can you get on a call?

I'll pay you whatever you want to.

Help me set up my podcast.

So by being focused, you become an expert, you become a thought leader, you become a respected member of the community and people look to you for your expertise.

Thanks 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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