The Content Entrepreneur Update
The audiobook for The Content Entrepreneur is now available! Please pick up a copy directly from me for just $10. Special thanks to Pamela Muldoon for her amazing narration and Elephant Audiobooks with production.
This is the first audiobook I’ve ever produced that won’t be distributed through Audible (Amazon). Don’t get me wrong…Audible has been great throughout the years, but now I can sell directly through my own website and distribute directly with the help of BookFunnel.
I’m sure I’ll use Audible in the future, but I love trying this new form of audiobook distribution and working directly with my audience.
And as a reminder, all proceeds for The Content Entrepreneur (in any form) go to the Orange Effect Foundation.
What Is Your Worthy Cause?
My friend and amazing entrepreneur Marcus Sheridan was our VIP guest last week. He did not disappoint.
One story he shared hit home.
Marcus said that whenever his kids get down on themselves or their current situation, he asks them one simple question:
“What Is Your Worthy Cause Right Now?”
Marcus went on to talk about when content creators get down on their business, or when people get depressed, in many cases it’s because they don’t have a cause (outside of politics) that is meaningful. To Marcus, a meaningful cause or purpose is something that helps the world and the person at the same time.
That truly resonated with me. I remember back when we launched our first business in 2007. I often felt lost. I was creating all this content about content marketing to get search traffic for my business, but there wasn’t a deep mission. I was flailing.
It wasn’t until I realized that there was a large group of marketers that didn’t understand the practice of content marketing, and needed to, to get and keep jobs, to be fulfilled, to support their families.
We took on the mission to help teach the “how to” behind content marketing because we believed the industry didn’t just want it. They needed it. We believed it was a worthy cause. And at the same time, we believed that worthy cause could create a significant business for our family.
It was like turning on a light switch. I went from being listless and, frankly, almost giving up on the whole idea of being an entrepreneur, to being excited to get up each morning.
What is your worthy cause right now? What gets you up in the morning? What are you doing today to help people and yourself.
So when I asked the question, “Marcus, what would you say to content entrepreneurs who are really struggling right now?” He said, without skipping a beat, that the most important thing we can do as content creators is to have purpose in our life and business. Without that one thing, you probably won’t be successful.
Do you know your purpose? If someone asked, could you recite it?
If you’re not sure, write it down. Play with it for a while. You’re on this earth now for a reason…make sure you spend the necessary time to identify and then be able to communicate it to others.
Country Stars Buy Field & Stream
Country musicians Eric Church and Morgan Wallen are part of an investment group that purchased the 128-year-old magazine Field & Stream.
Four years ago the media company that owned Field & Stream magazine shut it down. Now, under new management, the print magazine came back to life this June.
Now, you might ask, why would two successful musicians buy into a failing print magazine business model? Valid question.
Here’s why.
The brand is still one of the best-known outdoor life brands in the world, even with no print presence for the past four years. The hook is the magazine, which most likely will serve as a loss leader to fund a variety of other activities including:
· A chain of hotels through Field & Stream Lodge Co. (coming in later 2024)
· A seller of hunting and fishing gear (affiliate model)
· Field & Stream Music Fest (taking place in October) where they anticipate 60,000 attendees
It’s funny. I started talking over a decade ago about how non-media companies should go out and buy defunct or distressed print assets. Well, we are finally seeing this today.
Every year there are dozens of print magazines that go out of business. Each one is an opportunity for some business to inherit that brand AND their web traffic.
The point is, before you start a content initiative, see if one exists or did exist (print, web, whatever) that could give you a multiple year head start instead of starting from ground zero.
Online Gambling’s Big Problem
Thirty-eight states now have legalized sports gambling. I’m sure you see the ads everywhere these days. I know I do in Ohio. Whether it’s Bet365 or DraftKings or FanDuel or a slew of others, it’s easier than ever to gamble on sports.
In response to this, a group of researchers from USC performed a study on the financial burden that occurs from online gambling. You can read the full report here.
Some findings include:
· About 75 percent of Americans engage in at least some gambling per week, with 10 percent gambling at least twice or more per week.
· Bankruptcy filings have increased as much as 30 percent for online sports gamblers.
· Debt transferred to debt collectors increased 8 percent.
More and more, the United States is starting to look like Australia, where gambling is getting younger and more pronounced each year. And it’s hard to spot. We don’t see the disasters happening like we do with alcohol or drugs.
While we drive head first into election season, I see little discussion on either side about the two biggest problems in the US right now (specifically for our younger generations): social media usage and online gaming.
I have no problem with recreational gambling. I love a good slot machine and enjoy a trip to Vegas. But I will never let a gambling app on my phone. It makes it way too easy and the downside spiral seems almost inevitable with many users. Please be careful out there.