TMBA 189 (LBP157) – How to “Monetize” a Blog or Podcast

26 comments
TMBA 189 (LBP157) – How to “Monetize” a Blog or Podcast post image

Dan and Ian dive into a question that has been asked by millions ever since the advent of blogging and more recently podcasting.  They also address one of the core issues behind the basic question that separates those looking for a quick buck, and those looking to build a cashflow business.

Click play above to hear Dan and Ian’s 5 step approach to conquer the question, “How do I monetize my blog?” You may be surprised with their answer since it’s not what you’ll find on WikiHow or advice you’ll see in internet marketing circles.

Are You in Biz, or Business?

  • Why you need to think big, but act small when you’re getting started.
  • Dan’s 100 email litmus test and how you should be implementing it for your blog and online business.
  • How focusing on the people in your audience that have skin in the game will open up doors and save headaches.
  • Why it’s vital to generate what Dan calls footflow and how that can turn into cashflow down the road.

Mentions:

 SOD Video

The full SOD post over on Tropical MBA

Just The Tips

Josh Plotkin from Brazilian Gringo
The Jam

Upcoming Events

  • July 19 – DC Amsterdam
  • June 15 – DC Chicago
  • May 25 – DC LA
Get Your Voice On The LBP
  • Leave us a message. It’s easy to do, just attach a simple .mp3 recording to the email.

Have fun. Leave a comment. Go make it happen! :)

Episode length: 26:50

 

Download options:

If you’ve found the podcast at all helpful or entertaining, we’d love if you could click over to our iTunes page and give us a positive review or visit Stitcher radio and give us the good ol’ Thumbs Up. This will help us to get more listeners and invest more in the podcast! If you know some ways we can make it better, please send us an email: Dan at lifestyle business podcast . com.

Published on 05.23.13
  • The MBA Lifestyle

    Dare to go big because that is the inevitable motion we are all striving toward.

    Keep up the solid podcasts!

  • http://www.tropicalmba.com Dan

    thank you !

  • James

    Great episode…terrible song :)

  • http://www.tropicalmba.com Dan

    tell me about it ! :D

  • Josh

    I really dug this episode because the advice you gave to Sean about promoting the Philippines works for me promoting Brazil.

    I’m not sure how to interpret what you said about ebooks and info products though. I just launched a course on how to teach English in Brazil, and you seem to suggest that I shouldn’t try to sell anything yet.

    At the same time I feel like most of whats in my course should be public because I want more people to have the information and it will help attract more people to my blog.

    I still see myself talking about Brazil five years from now so I definitely want to go big and I don’t want to make short term profit at the expense of long term reward, as much as I do need the money right now.

    What are your thoughts on this, should I keep selling http://teachbrazilenglish.com or would I gain more by making it free?

  • Jeff Parke

    Can’t beat having your question answered in podcast form with a hardcore 5 step process for blog-to-business success! Thanks a million… I’m pumped to see how far we can take Resort Rebel.

    Also, you guys don’t get enough credit for your astute and liberal use of metaphors and analogies… never stop, gentlemen.

    Cheers!

    Jeff

  • Timothy Mayer

    Great episode, I listened to it three times. But Guys, I think you lost me at the half way mark each time. I get the “business” as opposed to the “biz” demonstration, but what is this “footflow” thingee? Are you saying get your audience who have “skin in the game” to log onto or travel onto a specific location? I’m a little confused. Any actual examples of where this worked?

  • http://www.tropicalmba.com Dan

    Ah yeah that’s a crap metaphor for the reason you brought up… “foot” means action. So anything like filling out forms, attending webinars, asking for quotes, attending virtual masterminds would count as a “foot” flow. In other words get people moving before you get money involved. It’s worth mentioning that many successful businesses, with compelling marketing like a popular blog, can charge on day one, because people have already been reading, consuming, and taking action on their content for a while.

  • http://www.tropicalmba.com Dan

    Best of luck Jeff you guys have a winner on your hands for sure !

  • http://www.tropicalmba.com Dan

    Economics are a big factor here : how is the course doing? I’m just spitballing so it’s really about applying this type of thinking to your particular situation and asking if you think it’s got some merit. Obv. it won’t work the same way in every niche.

    If the business was funded (with your savings or with investors etc) you might ideally be getting the course into as many hands as possible… this would increase your reach, give you momentum, and more market intelligence which you can use to offer even more premium services / content. I’m more likely to but a 500$+ product from somebody to whom I’ve had hours of exposure to, not just a few pieces of marketing.

    Theres anothing issue with your niche, is that lifetime value could be stunted because once they’ve figured out how to be an English teacher then what else do they need?

    Perhaps you could start some kind of match making or teacher materials / etc course, but if the lifetime value of your customers are just going to be this course I’d figure out a way to address that before switching up your marketing.

  • http://www.buildmyonlinestore.com/ Terry Lin

    CommentCast is BALLA – although it’s funny how you can add other podcasts and see their reviews too.

  • http://www.tropicalmba.com Dan

    Ah that’s interesting never thought about that…. could be fun / useful.

  • Josh

    The course has been up for a week, and the only marketing I’ve done is an email blast to my small list, which has resulted in a handful of sales. I’m sure if I tweaked the marketing and focused on nothing but English teaching on my blog I could make $1000 a month from this.

    Once they get to Brazil they need housing, they need info about how to integrate into Brazil, and they need help getting student/work/marriage/investor visas. Those services aren’t just restricted to English teachers though.

    I’d rather just throw everything I know out there for anyone to use and be done with the English teaching topic. I focused on that because its what I know and I didn’t see any good information about it online. I never saw myself focusing on this niche for too long though and always planned on moving to something else after a few months once I said what needed to be said.

    My runway extends out a little farther so I could just give it all away right now. I really want to change the niche I operate in, or take part in several niches at the same time. I’m moving to Rio in a few weeks and plan on focusing on tourism and general travel information for a while because theres a big need for that and can be more easily monetized.

    Ultimately I want to focus on internet marketing in Brazil. I’m prepping for the launch of a bilingual podcast about that right now(thread in the DC). I don’t know a ton about it yet, but a year from now I hope to be in a position where we are talking about getting a bigger space for the DC-Brazil event because so many Brazilian DC members are going to attend.

  • OBO

    Thanks for the (sort of) shout out to those of us in Sweden! (I’m not Swedish, just stranded here). Thanks for the continual good work with the podcast guys – you’re a regular on my list of ‘must-listen-to’ each week. You and other podcasters out there help those of us on the geographical fringes keep up with the latest thoughts/trends/concepts, so your efforts are really appreciated.

  • http://www.tropicalmba.com Dan

    Hey cheers thank you for that! We’ll try and keep it up :)

  • http://www.linkedin.com/in/sholaabidoye/ Shola Abidoye

    Tjena OBO ;) – If you are in Stockholm you might be interested in a
    co-working spots called “The Church”
    (http://www.sharedesk.net/spaces/view/1756/entreprenrskyrkan/)…I
    believe it’s in Sodermalm. Also checkout the International Group to
    connect with other int’l entrepreneurs
    (http://www.meetup.com/stockholmexpat/)
    I know what it’s like to crave an entrepreneurial crowd in ole Sverige so I hope that’s useful to you. Lycka Til!

  • OBO

    Tjena Shola, tack för svaret och länkarna! :-) I’m about as far away from Stockholm as you could possibly get whilst still living in Sweden! Think ‘North’. Think ‘cold’. Think ‘fish out of water’. And you’re right, entrepreneurs around this neck of the world are about as scarce as the hairs on top of my head. There are some, but you gotta look hard. Önskar dig lycka till också!

  • http://www.tropicalmba.com Dan

    yeah buddy, you are getting me tempted… given the situation you laid out re: runway vs. 1,000 buck potential, i like your impulse to lay it out there. since you are committed to brazil the contacts / opportunities that a free site will bring you could outpace the paid product at this point. interested to see how things go….

  • Josh

    When the next big things happens I’ll do what I always do and call into the show.

  • http://www.tropicalmba.com Dan

    Rock on :)

  • http://www.whatisroku.org/ Robert Harper

    A great show as always. You mentioned a blog post about starting your company in Hong Kong but I don’t see a link. Could you give me a link to the post? I would love to read it.

  • http://www.tropicalmba.com Dan

    Thanks Robert and thanks! Here was the post I was referring to:

    http://www.tropicalmba.com/internet-based-business-hong-kong/

    I still get emails about it weekly.

  • http://www.whatisroku.org/ Robert Harper

    Dan,

    Thanks so much for the information and everything you guys do. I love the show. BTW I was turned on to your show from Justin and Joe over at Empire Flippers

  • http://www.tropicalmba.com Dan

    Rock on love those guys! Thanks for your support Robert.

  • http://www.richardhanleyjr.com/ Richard Hanley Jr.

    Every business needs to watch this, this is how you scale.

  • http://www.tropicalmba.com Dan

    :D

Next post: