How I Make $4 Million Per Year - The CBM Framework
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The Bridge Model for Successful Creator Businesses
- The bridge model is a common approach used by creator businesses to generate revenue.
- The model consists of two pillars: free content and paid products or courses.
- The first pillar is built by creating and sharing free content, gradually building an audience.
- Once the free content pillar reaches a certain height, creators can introduce paid products or courses.
- The bridge between the two pillars is used to transition audience members from consuming free content to purchasing paid products.
- The ideal outcome is a flywheel effect, where revenue from paid content funds the creation of more free content.
- The 99/11 rule suggests that 99% of the content is free for 99% of the audience, while 1% of the content is paid for by the 1% of the audience who can afford it.
- Examples of free content include YouTube videos, podcasts, newsletters, website content, and social media posts.
- Examples of paid content can include courses on specific topics or areas of expertise.
- Email lists are often used as the bridge to promote paid content to the audience.
The Three Levels of Being a Creator
- Level one: Get going
- Level two: Get good
- Level three: Get smart
- Level one is about getting started and learning the basic skills of creating
- Level two involves improving the quality of your content, such as titles, thumbnails, storytelling, and production value
- Once your content reaches a certain level of quality and gains traction, you can move on to level three
- In level three, you need to decide whether you want to treat your creative endeavor as a hobby or a business
- If it's a hobby, you can continue creating for fun and personal enjoyment
- If you want to make money and turn it into a business, you need to shift your focus to serving your audience and treating it as a business
- This involves target market analysis, standing out, and finding ways to best serve your audience
- Building a sustainable and profitable creative business usually requires intentional effort and consideration of the business side of things.
The Creativepreneur Business Model
- The Creativepreneur business model consists of three main components: workflow, cashflow, and outflow.
- Workflow focuses on strategy and systems, where creators need to think of their channel as a business and identify their niche, target market, and value proposition.
- The Hedgehog concept, popularized by Jim Collins, suggests finding the intersection of what creators are good at, what the market rewards, and what they are passionate about to determine a profitable niche.
- Creators should identify their target market by considering demographics, geographics, and psychographics, rather than trying to appeal to everyone.
- Creators should avoid making content on topics they don't care about or that have no market demand, and instead focus on creating content they are skilled at and passionate about.
- The goal is to attract a specific audience rather than trying to appeal to a general audience.
Creating a Successful Creative Business
- Understand the importance of standing out in your market and differentiate yourself from competitors.
- Conduct competitor analysis and market research to identify your unique selling points.
- Focus on being authentic and true to yourself rather than trying to be better than others.
- Explore concepts like the six dials of authenticity, killer combinations, and unfair advantages.
- Develop systems to leverage your time and increase productivity.
- Use templates and standardized processes to streamline content creation.
- Continuously analyze and optimize your production process to maximize output.
- Consider using tools like Notion to organize and manage your content production.
- Share your knowledge and experiences with others to help them succeed in their creative businesses.
Building a Creative Printer Business Model - Level Two: Cash Flow
- The second level of the creative printer business model is focused on cash flow.
- The goal is to create a pillar of potentially paid content that complements the free content and creates a content flywheel.
- The pentagram model is used to take someone from being a stranger to a customer.
- To turn a stranger into a fan, it requires seven hours of interaction across 11 different touch points and four different platforms.
- The book "Oversubscribed: How to Get People Lining Up to Do Business with You" by Daniel Priestley provides helpful insights on this concept.
- Once someone is a fan, the goal is to turn them into a friend who subscribes to the email list.
- Seth Godin's concept of permission marketing is used to avoid overselling products and to provide value to the audience.
- A lead magnet, such as a free email course, can be used to convert a fan into a friend.
- The intention is to provide value through daily emails and gradually introduce paid products or courses.
Converting Fans into Customers: The Pentagram Model
- Converting fans into customers involves a series of steps: from stranger to fan to friend to prospect to customer.
- Providing free value and content encourages fans to become friends by subscribing to email lists.
- Opt-ins, such as email opt-ins using platforms like ConvertKit, help convert friends into prospects.
- Understanding the audience's problems and offering solutions through products can convert prospects into customers.
- Many creators struggle with selling, but mentors and successful creators emphasize the importance of running a business and providing value.
- The law of reciprocity suggests that providing enough free value can lead some fans to feel compelled to support creators by purchasing their offerings.
- The Pentagram Model acknowledges that not everyone will become a paying customer, with only about 1% of the audience typically making purchases.
- Creators enjoy creating free content for the majority of their audience and appreciate the support of those who choose to buy their products.
The Three Parts of the Creatorpreneur Model
- The first part of the model is the workflow, where creators focus on creating content for their audience.
- The second part is the cash flow, where creators generate income to sustain their business and provide free content.
- The third part is the outflow, where creators leverage themselves by hiring people to handle tasks like editing, freeing up their time to focus on other aspects of their business.
- The outflow also includes hiring, firing, interviewing, management, and leadership, which may be unfamiliar territory for many creators.
- The creatorpreneur club series aims to provide guidance and knowledge on these areas through free videos and a comprehensive course.
Money-back guarantee and related videos
- 30-day money-back guarantee available.
- Customers can request a refund by sending an email.
- Refunds are given if the customer does not find value in the course.
- The course is called "The Part-Time Creatorpreneur" and a link is provided in the video description.
- A more in-depth video about levels one and two of the three part method is recommended for beginners.
The Bridge Model and the Creativepreneur Business Model
- The bridge model is a revenue-generating approach used by creator businesses.
- It consists of two pillars: free content and paid products or courses.
- The bridge between the two pillars is used to transition audience members from consuming free content to purchasing paid products.
- The 99/11 rule suggests that 99% of the content is free for 99% of the audience, while 1% of the content is paid for by the 1% of the audience who can afford it.
- Examples of free content include YouTube videos, podcasts, newsletters, website content, and social media posts.
- Paid content can include courses on specific topics or areas of expertise.
- Email lists are often used as the bridge to promote paid content to the audience.
- The Creativepreneur business model consists of three main components: workflow, cashflow, and outflow.
- Workflow focuses on strategy and systems, such as identifying a niche, target market, and value proposition.
- The Hedgehog concept helps determine a profitable niche by finding the intersection of skills, market rewards, and passion.
- Target market analysis should consider demographics, geographics, and psychographics.
- Standing out and differentiating from competitors is important, using concepts like the six dials of authenticity and killer combinations.
- Developing systems and using tools can increase productivity and streamline content creation.
- Sharing knowledge and experiences with others is important for helping them succeed in their creative businesses.
- Cashflow focuses on creating paid content that complements free content and creates a content flywheel.
Converting Fans into Customers: A Step-by-Step Approach
- Converting fans into customers involves a series of steps: stranger to fan to friend to prospect to customer.
- Providing free value and content encourages fans to become friends by subscribing to email lists.
- Opt-ins, such as email opt-ins using platforms like ConvertKit, help convert friends into prospects.
- Understanding the audience's problems and offering solutions through products can convert prospects into customers.
- Mentors and successful creators emphasize the importance of running a business and providing value to overcome struggles with selling.