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346: Fan Mail Friday!

346: Fan Mail Friday!

Released Friday, 20th November 2015
Good episode? Give it some love!
346: Fan Mail Friday!

346: Fan Mail Friday!

346: Fan Mail Friday!

346: Fan Mail Friday!

Friday, 20th November 2015
Good episode? Give it some love!
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Hey y'all.  Here's another episode of fan mail Friday, for you lovely solopreneurs! I'm happy to be bringing these to you, and if you want to be a part of future shows like this join us in the Proudly Unemployable group on Facebook.After you do that have a listen to episode 346 of The Solopreneur Hour - and don't forget to "use your peripherals"!!More About Fan Mail Friday@GRANTPEELLEQ: What was the worst day of your entrepreneurial career and what made you continue instead of quit?A: The worst time I've had was September and October of 2015. Undoubtedly the death of my beloved Dexter was the hardest thing I've done while going through this process. It's thrown me for a major, major loop. What gets you going again is the pure love of what you do.@GHARTQ: What do you think about Gary V's viewpoint that were in a bubble of entrepreneurs.A: I believe that wholeheartedly. Last year was the podcasting bubble. I think you can't just say you're an entrepreneur, you have to be doing something that is entrepreneurial and have that time freedom. Being on your own and being your own business counts.And if you're going to be a coach you have to have something you're good at. You can't just you're an Instagram expert and have 411 followers. Don't be a Kardashian in the online business world, focus on a skill, be good at it and then teach it. Before that you're not an expert, you are a wannabe and shouldn't be coaching others.Thom SingerQ: How do you climb to next level when you are booming along - but stretched thin as a solopreneur.A: I would say that's the perfect occasion to find someone to outsource to, it's the perfect time to start working on the business and not IN the business. When you have more money than time so find a VA to help you. Read Chris Ducker's book Virtual Freedom and do James Schramko's sticky note process (which you can hear on this show).Jeremiah JohnsonQ: Hi Michael,I'm a 34 year old classically-trained opera singer. After years of horrid financial choices (and racking up 200K in student loans) I'm trying to help other musicians make better choices. I've recently started a financial coaching business for musicians.I want to offer a product that is helpful, but not so expensive that musicians can't afford it. I'm less worried about me making money than I am about them being helped. Short of offering it for free what is the best pay structure? A Paetron (monthly) set up or just helping people at a reduced rate? Thanks!A: So Jeremiah there's a million things in this that are telling. Have you made good financial choices now and there's evidence you know how to be financially stable in the music industry? First and foremost. You can't coach people on this until you've done that.Second: you are putting your own financial outlook on someone else. You're assuming they can't afford what you're trying to offer.I've did this too when I started with my network marketing company Isagenix. I could only afford the 9-day program so I assumed that's all other people could afford. Once I changed my mind and made that shift all I sold was the bigger program and that's all that I did. My business grew exponentially!So there's a mindset shift that needs to be accomplished in your own psyche Jeremiah. The idea of them wanting to donate when you don't have a real brand it doesn't make a lot of sense to me. The way you could swing this would be to share your journey with people if you haven't yet accomplished a better financial situation for yourself. And if you have figured it out break down the processes you've done and then be fair about it. Instead of doing a single product you can do a subscription model for $19.99 a month. And give them all the resources to go along with it.You probably just need a tweak of how you implement this idea. Be careful about coming in at a reduced rate, it's also a reduced perception of value.
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