Sometimes I like to go on Twitter just to see what people in my industry are talking about.
It’s usually a disappointment. And almost always a waste of time. Yet I can’t help but look.
This morning I was on there and found a lively thread from an “entrepreneur” talking about building a business by “monetizing your audience”.
He was giving away all kinds of tips and instructions on how to monetize your audience to build a “six figure business”.
It’s always a six figure business…
And of course everyone on the thread was high fiving and doing the “oh you’re so right!” stuff that social media people do.
All people that I’m sure have never built a business either.
Ironically when I looked at his profile, he had 800 followers.
I’m sure his business is booming from “monetizing” his 800 followers…
Now, in case you didn’t pick up on my tone… this guy doesn’t know what he’s talking about.
Most likely, he’s just parroting what he heard some other social media dork say.
If that’s the case… hopefully he’s reading this.
Maybe it’ll save him from wasting time and energy focusing on the wrong stuff.
As an entrepreneur, you have to understand…
Your social media following is not a business.
Having an audience online is great.
But it’s not a business. Not even close.
I know people with huge followings that can barely keep a roof over their head.
Your blog is not a business.
A website that attracts visitors is great.
But it’s not a business.
There are a lot of broke bloggers out there.
Your product or service is not a business.
Having something to sell is a great start.
But a single product is not a business.
A business is a system made up of a bunch of smaller systems.
It’s all the ways you attract leads…
It’s the system you use to convert them into buyers…
And it’s how you sell those buyers additional products and services on the back end.
Sure, a business can be made up of social media audiences and a blog and a product or service…
But it’s none of those things in isolation.
Those are just ways to make money. Not a business.
So make sure you’re building a business… not a social media following, or a blog, or a product.
Build an actual business.
– Dave D’Ambrosio
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