A business needs an audience of paying customers. Therefore, your job as an entrepreneur is to find new people to enter your sales funnel consistently.
Welcome back to the Becoming an Entrepreneur series (Part #1, Part #2, Part #3, Part #4, Part #5, Part #6), where we turn strangers into paying customers.
What is a lead? A lead is someone familiar with your business. Your goal as an entrepreneur is to ensure new strangers become leads. What is the best way to generate new leads?
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You want to generate leads passively, as much as possible. That’s why creating content first is the best way to start a business.
The magic of content. By creating content, you are curating the best customers for your business. You build an audience of raving fans that want to support you by providing you with business.
Advertising vs. content marketing. You can advertise to generate leads. In fact, you can create an ad that pays for itself and creates revenue—at this point, you’re in an infinite return.
However, I do not recommend this approach, at least at first. When you advertise, you open your doors to everybody.
When you advertise, people will come to your website and trash it. I advertised on Facebook, and that was my experience as well.
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When you allow everyone to come in, a price war may ensue. Now you have customers haggling over your rock-bottom prices; don’t run your business this way.
How to generate leads through content. Creating content makes you a subject matter expert. It also warms the leads until they are ready to make a purchase.
All you need to do is talk about what you do and why you do it. Eventually, people will need your product or service or refer someone who needs it.
For example, I watch a YouTube channel called Oak Harvest Financial Group. They are financial planners who take into account many factors beyond your 401K.
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I don’t need a financial planner now, but I will call them if I ever need one. They have proved that they know much more about social security, taxes, and recessions than me.
The best ways to create content. There are almost unlimited ways to create content and generate leads. Each method has its own advantages and disadvantages.
You should start with one way as your primary and then have branching paths from there. For example, you can create a podcast, record it, and put it on YouTube.
You can write a book and go on YouTube and read it. You can take photos and put words about your business at the bottom.
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The goal isn’t to have the most prominent YouTube, Instagram, Twitter, or blogging channel. The goal is to find Superfans who will give you repeat business.
Understanding algorithms. If you live and die by the algorithms, you will fail long term. You can make good money by focusing on current events and headlines.
However, you want to create an automated business that consistently generates new leads. To do this, you will need to create evergreen content.
For example, the recent banking crisis in 2023 is a great way to make good money. You talk about how these banks failed and scare people into reading your article.
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But what if you wrote articles titled, “How does the fractional banking system work?” or “Why is the Federal Deposit Insurance Corporation Important?”
These two articles will get fewer views but keep receiving views for a long time. Once you have a backlog of evergreen content, you can push current news occasionally.
The algorithm grind. I read that books are the perfect lead magnet. You push your book out there, and people learn about you and your service.
They may sign up for a $1,000 service or product if they love my work. It’s all about the long game.
You want an exclusive list of clients and customers that pay top dollar because they believe in you and your product.
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The YouTube algorithm will keep you on the grind forever and favors channels that only talk about one thing.
For example, growing a channel about love and money would be too difficult. However, most people need to discuss both to have success in marriage.
Education and sales. The book “Jab, Jab, Jab, Right Hook” discusses positioning your content. You want to give at least three educational posts, then a hard sell.
Let’s say you have a channel about cleaning bathtubs. You upload three videos about cleaning, washing, and rinsing your bathtub.
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In the fourth video, you work hard-sell your product by making a comparison with other brands. You will have a growing channel and your own advertising platform.
The magic of email marketing. I will write an article on the magic of email marketing for this series. Building an audience on a platform like YouTube is risky.
They can take down your channel, censor you, or raise their cut of YOUR profits. It’s best to have an email list and website to ensure you capture your own audience.
Keeping the leads flowing. Once you have tons of content and a sizable audience, you can advertise.
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However, advertising is its own beast, and once you go down this rabbit hole, it’s tough to stop. When you advertise, you will see impressive numbers.
Conclusion. However, ads don’t stay relevant forever. You’ll need to test new ads and different delivery methods constantly.
Think about the Super Bowl ads; they can’t be the same as in 1980. I am a firm believer in creating content.
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You can also repurpose content into infinity. You can cut videos into short-form content. You can snip blog articles into short posts for LinkedIn. You can turn podcasts into blog posts.
Keep releasing content and making great products; your business and audience will grow. The power of compounding will always grace us with its presence if we push quality.
As an entrepreneur, you should always be thinking of generating leads. The books “Sold,” “Skill,” and “Scale” are real estate books for becoming an agent.
If you want to see how a professional real estate agent constantly generates leads, read this book series. It will help any entrepreneur build the mindset of lead generation. Good Luck!
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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