Another Friday Q&A show in the can! These Solopreneur Hour Q&A shows are amongst my favorite. I love talking to other people, but whenever we do these Friday shows, I feel like I really connect with you guys.
Today had a bunch of cool questions, and I talked about “comparing down” when something bad happens to you, and how to automate your finances as a solopreneur.
We also get into my plans for SE Asia and how preparing for it is like going through the “8 Steps to Becoming A Successful Solopreneur”, and of course told a few more stories…cause that’s what I do.
As always, thanks for listening to The Solopreneur Hour. Enjoy episode 258!
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Q: 1) I’ve been a solopreneur for nine years and most of my business is direct to private clients (magic and mindreading at weddings and parties).
I want to do more corporate work, how can a solopreneur create the impression of being a bigger business? Much of my existing private business comes from referrals and people seeing me in action, therefore I can adjust my website, marketing and brand to attract new corporate clients, knowing the existing business is taking care of itself.
2) Would you social media ninja course still be relevent for me? As I said, much of my existing business comes from referrals, could I use the Ninja course to leverage more business. Any sneaky thoughts to how?
A: 1.) The next time you have a gig either speak to the photographer or bring your own with permission and a videographer, and have them shoot you in front of a crowd. After the shoot ask permission (give them a discount) to solicit testimonials from the crowd, ask the crowd for help and be honest about what you’re looking for. Then get their testimonials and put it together in a sizzle reel.
Then uplevel your site, redesign it with great photos, great design and your sizzle reel. Look at it as an investment in your business.
A: 2.) Yes, it would be very relevant. As would SoloLab, as a regular business builder we could help you with this.
Q: How would you grow your audience for a podcast and website for a niche audience? If you were to start a blog or podcast but it was focused in a particular topic. For instance I have one about the marketing for a pizzeria.
What would you do to get people to know about it? Tactics or strategies. Hope that is more specific.
A: The best way to speak about this or anything else is to do it. No matter what the endeavor you have to define your avatar. You could also put a kit together for one of their employees and train them on how to market the pizzeria (or other business) through SMS, social media, etc. You gotta get your hands dirty and prove this model works, then you can scale and the world is your oyster.
Q: Please bring jessshaanan back on the show and ask her how her journey into solopreneurship is going. What is her latest win? She has the best female voice for broadcast I’ve ever heard, BTW.
A: We worked on her first ever video, I’m helping her with that. But she doesn’t have a clear avatar on who she’s helping or what she’s doing and we’re working on that in a noisy niche. Find her on Instagram or reach out to me.
Q: My business took a huge setback as a result of a few consecutive poor decisions on my part. I consider myself quite resilient or as @garyvee would put it a punching bag for my business but thats not to say i didnt fall off the horse for a short while.
What are your tips, from personal experience before The Solopreneur Hour how to come back swinging with huge momentum. Ps avid listener from show 1!
A: One of the things my dad always said to me was how good I am at picking me up by my bootstraps. And I am. It’s cliche to stay failure is not an option but if your mindset is correct (and yours will get that way if you pay attention to how other entrepreneurs think), you just realize something didn’t work and you move on.
Also be really conscious of not comparing up! Don’t look at the Richard Branson types of the world, just look at where you are and what you’re going for and be grateful. Be aware there are plenty of people who are worse off than you.
Q: With the sales of each ShockSecurity kit what would you recommend I do with the earnings? I will put 1/3rd aside for taxes, but with the other 2/3rds should I put it all towards debt (loans I used for inventory and prototype)?
I’m looking to expand my OffRoad Security niche and would like to put a percentage towards a new product. Words of wisdom?!
A: Read the article by Tim Ferriss that is linked up below. I like reinvesting at least 20% of the money you make back into your business so either as a cash reserve, repaying the loans or creating a new product. You’ll have to figure out which of those to do, but pay yourself a good wage, set aside some for taxes and pay your business.
Q: If you and I had a conversation 1 year from now about your Podcast, what has to have happened within that year from now for you to feel happy with your Podcast development/progress?
A: If I really had my druthers I will have been adopted by some major podcast network, Rainmaker FM, CBS, etc. That adoption would mean having access to A List celebrities on press tours, etc. My other goal would be to have a studio in LA where I could interview these folks.
Q: The Solopreneur Hour is THE BOMB. Question for you sir – I wear multiple hats. (bad start right?)
I own: www.artisanworx.com – a design/experiential marketing co. (passive income) but my passion is people. I have a kindle book publishing book & training, nobskindlebook.com/ nobskindlecourse.com, and I’m working on ‘youexpertyou.com’ which teaches people how to monetize their knowledge through creating courses.
I also leverage relationships with local big name influencers here in atlanta by creating webinar courses with them, marketing to their audience (growing their email list and mine) and splitting the profit w/them 50/50. We then turn the product evergreen (this has been very lucrative with several big wins under my belt… and a waiting list of ‘influencers’ to boot…).
Problem is, I can’t seem to focus on one without getting bored out of my mind. any advice would be GOLDEN!!! Thanks good sir and keep up the great work!
A: You could leave the focus to someone else. Why not train up a virtual assistant? Find one on Chris’ site Virtual Staff Finder and teach them to focus on one of those businesses. Wherever you can put the least amount of effort into something that will give you the most return, and focus on that then move on to a passion project. Go E Myth Revisited on it. Write an instruction manual on how you run the business, then find a VA and hand it over. Having a laser focus is one of the most vital assets a solopreneur can have.
Q: Do you think it’s possible for a brand to succeed with several interests and a long-term mindset?
A: See previous question Andre! It depends. My short answer is no, my long answer is yes.
First your brand has to be known for something and it has to carve out a spot in the marketplace. Let your brand go first and work for you for the first year or two. Once it’s established then branch off into other things.
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Selected Links From This Episode:
Contact Me on Twitter
We Turned Out Okay
BSW Audio Kits
Get Jim Palmer
The Psychology of Automation by Tim Ferriss
Social Media Ninja Tactics
Mike Michalowicz’s Profit First
Re Perez (branding) on The Solopreneur Hour
Show Notes Made Easy