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Have a listen to hear your questions answered on episode 306 of The Solopreneur Hour.
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Q: The Solopreneur Hour is aimed at the S in the Cash Flow Quadrant, but the book promotes the goal of moving to the B and I quadrants. Is this at odds with your goal of being a Solopreneur, or do think being a Solopreneur is a transition stage?
Do you think this was the area you and Michael Gerber clashed at last year? Finally, did you get the mp3 for your 300th show?
A: I’d say I’m trying to go to the B, I think I’m promoting the B quadrant. I’m outsourcing the jobs and remove myself as much as possible. This is a service-based business so there’s no way to take yourself out of the S in that setting, but you can absolutely make the rest of your business B-based.
Q: I have just launched the podcast Ultimate Guide to the Filipina. My avatar is Stephen, a 66 year old US retiree coming over to the Philippines looking for a Filipina wife. The podcast aims to help him find his way around Filipinas who are just in for his money and find true love and much more in the Archipelago many call paradise.
I joined a very active Facebook group of expats in the Phils and learned more of their problems which includes being seen as a walking ATM (cash cow others call it), having a new family with unlimited number of relatives and corresponding financial problems, what food and drinks to avoid, what mosquito repellant lotion to use – the basics a tourist or ex-pat needs to know once they come over.
What I need are more problems to solve. What are your top three problems when you came over to the country that you would pay to avoid?
P.S. The podcast airs twice a day, we now have a little over 1,500 downloads after being available since Aug 5.
A: Good numbers, congratulations! I’m not the guy to ask. I was in the Philippines at a 5-star resort! Language barrier would be the first thing because you’d feel like a fish out of water. Maybe clothing and culture, and food: what you’re eating, what you should wear and what people are used to. Maybe what activities? Match them based on that.
My sense is you should’ve had this on your radar as you set the podcast up: you should’ve had an endless list of things you were going to talk about. I’m concerned that you are already out of problems! I think your best bet is to mine for questions and problems in those ex-pat Facebook groups.
Q: Did you submit a panel idea to the SXSW Panel Picker for the 2016 event?
A: In fact I did. It’s about podcasting: who should do it, why and should everyone have a podcast? Vote for that panel here!
Q: Just a general question: why do podcasts generally use unscripted, usually not even prerecorded ‘ads’ for their sponsors? Did someone test this? How did it become the norm? Even if you like a sponsor, it can’t be easy to sit there and freeform extol their virtues every time you record.
A: Most don’t! John Lee Dumas doesn’t, Start-Up doesn’t but I think Tim Ferriss does.
There’s a certain skill set you need. But sponsors prefer live reads but many hosts don’t have the proper training to do a live read.
Q: I know it’s The Solopreneur Hour, but I don’t think anyone can operate EVERY aspect of the business solo. What characteristics should we look for in the perfect business partner, and if there is a personal brand, how can you get them to be as passionate about the brand as you? Or does their enthusiasm even matter if they can do the job?
A: I don’t necessarily agree with your premise: it depends on how complicated you make it. I can and have done every aspect of my business. If you want real time freedom you need help. But you can still stay a solopreneur and grab help along the way – designers, coders, etc. But I don’t think you need a business partner at all. You can’t make someone else be as passionate about it as you are, it’s your dream. I’d put a team around me for the technical stuff.
Q: Hey Michael. I have a question. Tried to do a planecast with my zoom and my SM 58 and I could hear the complete conversation from the people sitting behind us as well as my conversation interview. I guess my mics were too good. What is the solution to recording in public and why did your podcast with John sound so good?
A: You were so close to nailing this! Turn a compression on on the ZoomH6. Click the comp button and put it on the channel the SM 58 is plugged in, that will effectively block out the rest of the plane noise.
Q: I’m launching a coaching/consulting business and wondering what the best platform/medium is to promote the business and offer free help online. Should I focus on poodcasts (which I do now), webinars, courses, or newsletters and ebooks? Thanks for the help.
A: Promoting is platform agnostic. If you’re a good writer jump on a blog, if you’re most comfortable on the mic use podcasting. If I were starting over and could do anything I’d do a podcast, promote on Instagram and would drive traffic with webinars because webinars convert right now! My #1 piece of advice is to be patient, it takes time for people to get to know you and care about what you have to say.
Q: Podcasting in the Spanish market? Do you think I could recreate what you and John Lee Dumas have with podcasting but in Spanish? I’m part of Podcasters’ Paradise just wanted to know your thoughts on the subject!
A: Yes is the answer. You’d have to do it in your own voice with your own show. If you could do a 7 day a week podcast in Spanish for entrepreneurs and it hasn’t been done before, do it. But don’t duplicate JLD, that’s a recipe for failure because he’s a savant. If you want to duplicate the success take the best parts of his show, improve on them and make them your own and then put that out.
Q: What are the steps to establishing a legit business? How does one create a business in the eyes of the state/law? How does a solopreneur do taxes? Thanks, Mateo.
A: You’d get an LLC, if that’s the right tax structure for you. Then you’d register your business. I set up my Proudly Unemployable with Legal Zoom for that part of it. I use TurboTax to file my taxes and they crushed it for me.
If someone is out there who is a real ninja on this topic I’d love to interview you. I want you to be tech savvy, let us know what apps to use and how to do our taxes. I’d love to have you on the show.
QUESTION OF THE DAY: What other questions would you like answered? Let us know in the comments below!
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