348: Topic | Becoming a Content King with Ben Hardy, Josh Elledge, and Patrick Bet-David
The “sunk cost bias” says that once you invest money in something you stop seeing it as something you want to do and see it as something you are actively doing, which increases your commitment.
Ben invested in himself to develop his skills as a blogger when he decided that’s what he wanted to do.
Once he wrote some viral posts, other publications paid him a few hundred dollars to write for them, but Ben saw that as a short-term win for a long-term loss, as he wasn’t seeing consistent revenue or gain from his blog yet.
It took writing consistently for over a year and investing $5-10,000 into it before he was able to launch a coaching business that earned him over $20,000 in a week.
Just because you’re spending money, doesn’t mean you’re investing the money in the right things; actually use the skills you invest in learning and the relationships you invest in building.
Josh began by developing a system to cut your grocery bill in half and wanted to help people with it, but without money to pay for advertising he knew he had to rely on exposure.
His strategy was to reach out to local media asking to develop content and do segments with them, which snowballed into over 2,000 media appearances to date and over $6 million in revenue.
This spun off into a huge consultant business with other startups in his area, and he has now helped over 1,000 people become media celebrities.
Patrick has grown a business from a startup to over $100 million in value, so his consultancy comes from personal experience.
He’s released videos about how to create viral content since creating a video that got over 31 million views in two months.
Engagement and people caring about what you do is more important than viewer numbers alone.
Patrick’s favorite content creators are the ones that meet his trifecta of criteria: T-E-A, or their own Theories, Experience, and Application.
3 Key Points:
To get results, you have to both invest in yourself and apply what you learn.
Ways of gaining free exposure are often more effective than paid marketing.
Theories only become useful when you have experience applying them in real contexts.
“If you don’t believe you deserve a lot in your life, you’re not gonna have a lot. And how do you upgrade that subconscious belief system? You start investing in yourself.” –Ben Hardy
“We’re so grateful for the work that we get to do to help other people shorten the learning curve so that they can get out of that period where they’re just not being recognized for the good work that they’re doing.” –Josh Elledge
“If you go out with the intention of only wanting to go viral, you will constantly be disappointed… Impact is more important than virality.” –Patrick Bet-David
Ben Hardy: https://medium.com/@benjaminhardy (Blog), https://benjaminhardy.com/ (Website), https://www.facebook.com/benjaminhardy88/ (Facebook), https://twitter.com/BenjaminPHardy (Twitter), https://www.instagram.com/benjamin_hardy_phd/ (Instagram), https://www.linkedin.com/in/benjaminhardy88/ (Linkedin)
Josh Elledge: https://www.acast.com/privacy (acast.com/privacy)