WEBVTT
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We have been trained like give everybody everything and do not hope for a reward from anybody.
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But in the business world that's not how it works.
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It's not a kickback.
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It's not changing the way you would refer, because you would have referred this anyway.
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This is a business model that has been around since forever.
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It's not unethical.
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Hi docs, Welcome to the EntreMD podcast, where it's all about helping amazing physicians just like you embrace entrepreneurship so you can have the freedom to live life and practice medicine on your terms.
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I'm your host, Dr Una.
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It's not unusual to have people ask me in my world, like do I have to do content?
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Do I have to show up on social media?
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What is this?
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Dr Una is talking about a YouTube channel and all of that.
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And after they overcome that hurdle because I mean creating your own content, owning your own channel, whether that's YouTube, podcasts or a blog is one of the most transformational things you can do in your business.
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It falls in the category of not urgent, but important, and a lot of times, by the time people realize they need it, they're either really grateful they listened to me and they created it, or they're like, man, I wish I did this a long time ago, right.
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But after they overcome that initial hump, they're like okay, fine, I think I'll do this.
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The next thing that comes up is what is the point?
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Like?
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This is so much work?
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Where's the return on investment?
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Where's the return on investment?
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Where's the ROI and all of that?
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So today I am going to show you seven ways to monetize your content.
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Now, I'm going to say content in general, because this can apply to social media as well, but really, you know, I really want you to think of this in terms of your own HQ, which would be your own headquarters, which would be a YouTube channel, a podcast or a blog.
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Okay, can this create opportunities with social media?
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Absolutely.
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We literally just had a doctor in the EntreMD business school come in and say you know, a company reached out and paid me five figures to create three 60 second videos.
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I want you to think about that.
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And they did that based on her performance on Instagram.
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And she does not have a gazillion followers, she doesn't have any of that stuff, but this stuff works and it opens doors you won't know about.
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But anyway, now to start off, one of the people that you know I follow on YouTube.
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His name is Myron and you know he runs an eight figure business.
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Okay, so what he does with YouTube is not a very significant part of his business portfolio, but he does it right, and so he started going in.
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You know, all in on YouTube, all in on the content strategy.
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Now, remember what I said this is an eight figure entrepreneur.
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So what do we do?
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We look at the things that the ultra successful do, we ask why they're doing it, and then we do it too right If we want the same outcome.
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So, anyway, he talks about one of his YouTube channels.
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I think he has three of them at this point, but one of them generates as much as $40,000 per month in revenue right Now.
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This is direct ad revenue.
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This does not include the number of people who sign up for his program because of his YouTube, does not include the number of people who buy his books.
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It doesn't include any of that stuff.
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This is just pure ad revenue.
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Why am I telling you this?
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Am I telling you you're going to create $40,000 every month?
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Probably not.
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I'm just trying to show you the potential For those of you listening to this on a podcast.
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Well, this podcast the Entremity podcast I've really enjoyed recording every single episode of it.
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We're almost at 500 episodes, if you could think about it, which is really crazy.
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In six months, we will hit our sixth year of podcasting.
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It has led to the transformation of the personal lives and businesses of thousands of physicians.
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It's just been such a phenomenal journey.
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It has also created millions of dollars for me in revenue and, because it is a full-time employee in my business, it gives me the opportunity to talk to people whenever they want to talk to me.
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It gives the opportunity for them to go back like hey, dr Una, this thing you said, can you say it again?
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Right, and I'm talking to them again.
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It doesn't have an attitude.
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It shows up for work every day, right, and it doesn't matter how many people want to listen to it, it can still deliver.
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Right?
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It's a scalable employee and when I interview them, when I'm listening to their stories, it's usually some version of I found Dr Una, I started binging on her podcast and after some people it's the next day, some people it's a few months, some people it's a year, some people it's a few years, which, if it's going to be a few years for you, let's just shorten it, right?
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Like, if you're thinking about the Entree in the Business School and you're like, man, I think that's where I want to be, come join us, because every last person who's joined has said man, I wish I did it sooner.
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I'm just letting you know, but anyway.
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And so this has created millions and millions in revenue for me.
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So it's given me an opportunity to serve at a very high level and it's given me an opportunity to earn.
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Okay, so I'm saying that to say can you monetize your content?
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Yes, it's a business asset.
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You can even think about it as a vertical in your business, right.
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But I'm going to show you seven ways, okay, seven ways that you can do this.
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Now, it's very clear you don't have to do all seven.
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You can start with one.
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You can start with one that you can probably start leveraging right now or optimizing.
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Maybe you already do it in a way, but you can optimize it, starting right now.
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You can decide.
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You know, over the next five years I'm going to build out all seven, right?
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So it's not about doing all seven, it's about starting, it's about taking it to the next level.
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Okay, all right.
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So the very first way you can monetize your contents, right?
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So let's say, your YouTube channel, your podcast, is by offering your services.
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So it's through your services, right?
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This happens to be my favorite one for service-based businesses.
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And so let's say, you're a coach, you are a private practice owner, you host events, you're a consultant, any of those kinds of things.
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Your platform is a beautiful place for you to promote your own stuff, right?
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And so what does that look like?
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Now?
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Remember, on the previous episodes if you haven't listened to them, you know what you'll want to go.
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Listen to them.
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Actually, the one right before this, we talked about how to recession-proof your business with certain types of content.
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I gave you three kinds of content you can use, and one of them is that it really needs to be relevant.
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Right, it needs to be relevant.
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It needs to speak to the problems people are having in real time.
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And so you create this podcast or this YouTube channel, this blog, where you're solving real problems that your audience has, your potential clients, your potential patients have.
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You're solving it in real time and then you're making them offers.
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Right, if this is helpful, come work with me here, come work with me as your coach, come work with me in my private practice, and you're doing that every single time.
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You're making some kind of offer, right, because when you do that, then you're giving people opportunities to say which is what happens with me?
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People are like, oh my goodness, if I could get all this stuff, all this happen from the free stuff.
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What will actually happen if I worked with this person?
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Right, because now you've created all this credibility because they know you're the person for the job, because you've been doing the job right?
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So that's the very first one.
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And when I talk about, you know, monetizing your content, it can easily be a seven figure vertical, right.
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And so let's do some math here.
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So let's say that you are a coach and you have a program and your program you charge $10,000 for the year.
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If, over the course of a year, your podcast or your YouTube channel gave you a hundred clients, that is a million dollars in revenue, right, and so we're talking about eight clients a month.
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Could it do that?
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Yes, you're like, well, dr Una, I don't know.
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Okay, fine, what if it gives you four?
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That's half a million.
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That is nothing to sneeze at.
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What if it gives you two?
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That's $250,000.
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That's nothing to sneeze at, right.
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So see what I'm saying.
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Like, you're already going to be creating this content anyway, right, and so we're just going to put in a few things to monetize it, okay.
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So let's say that you are a DPC doc.
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Okay, you have a direct primary care practice and your enrollment is $100 a month or $1,000 a year, okay, and so for each client that you get, right, that's $1,000 for the year.
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And that means, if you get 1,000 clients, right, then that's a million.
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You're like, I can't get that number.
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Okay, you get 500, that's half a million.
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Right, you get 250, that's 250,000.
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Like, just think about it that way, right, and so it can't be a seven figure vertical.
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Yeah, it absolutely can, and it has been for many people, many people.
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Okay.
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So number one is your services.
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Number two is products.
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Okay, I was listening to Patrick Beck, david, and he was talking about this on his YouTube channel and he, in the year before I was listening to whatever video, that was the prior year they had sold 72,000 products from their merch store.
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Okay, so products we're talking about?
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It could be mugs, it could be mouse pads, it could be t-shirts, it could be hoodies, it could be like all kinds of stuff.
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Right, it could be t-shirts, it could be hoodies, it could be like all kinds of stuff.
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Right, it could be books.
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And they had done 72,000 units, right?
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So if you do math like me, if you're like on average, if that is $10, which is usually higher, if that's $10, that's $720,000.
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On average is $50.
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Now we're talking the talking, the millions.
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And again, if you're building the audience, you already have the watch hours, and I'll talk about watch hours in a bit and all of these things, you might as well monetize it.
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So, instance, I have a lot of quotable quotes and all of those things.
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And you guys know, I made my daughter, I made her the director, if you will, of the Entremdi merch division and she created all these t-shirts with, you know, like frogs, all day, every day.
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There's no imagination, police progress over perfection, all of these things that we say all the time.
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And she just made those into t-shirts, into hoodies, into, you know, mouse pads, tote bags, all of these things, and we saw them on our store.
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Right Now.
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She goes live every week in our Facebook group to promote them, but she could easily be doing that on a YouTube channel, doing that on a podcast.
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Okay, now, we'd really love for you to go check out the merch store.
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It's entremediecom forward slash merch.
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You can check it out.
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It'll make her super happy.
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You should get some orders in and all of that stuff, right, okay?
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So number one is services, number two, your products.
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Okay, and again, you can easily set that up.
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Number three would be sponsors.
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Okay, now, before I tell you about this one, I need to tell you a little bit of a story.
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Okay, so I was listening to Alex Hormozy interview Dave Ramsey.
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He was interviewing him about his business and they actually went into numbers.
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So Dave Ramsey talks a lot about personal finance and stuff for others, but rarely has the opportunity to talk as much about his business.
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It was very interesting.
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I was like, oh great, I get to see behind the scenes of his business and all of this stuff.
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And so while I'm listening to it, there's this segment that made like I saw it and I couldn't unsee it.
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So in his business, the year before Alex Hormozy I was about to say Dr Alex Hormozy, before he interviewed him, they had done 300 million in revenue.
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So let that sink for a little bit.
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300 million, okay.
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And I was like, wow, that's impressive.
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I'm like, okay, he has all these streams.
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I wonder where most of the revenue came from.
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And during the interview he then says that 40% 40% of his revenue comes from vendors who advertise, you know, to his audience, advertise on his, you know, like, on his website, and all those things.
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So they preferred vendors.
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And I was like, wait what?
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I was like 40%, that's nuts, right.
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I think that comes to about 120 million from vendors, right, aka for you, from sponsors, right.
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And so are you going to do 40% of 300 million?
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You know, maybe you're not going to right, that's 120 million, maybe you're not.
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But what if you did 120,000?
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What if you did a million?
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What if you did 50,000?
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What, right, but you're not going to do it, except you start doing it.
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So, anyway, sponsors and so that could be people who you know they want to talk to your audience they offer something that's different from what you offer and then they just pay you for you know, for a spot.
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They can pay you directly to have that ad played on your YouTube channel or your podcast or anything like that.
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You're not doing it, they're doing it right, like they just have an ad spot.
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So that's something that you can look into.
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The fourth way is through affiliates.
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Now, with affiliates, what that really is, think of it this way.
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There are a number of things that I use.
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So let's say that there is a service that I use.
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I use Buzzsprout for my podcast, that's my podcast host, and I've used it, you know, like, for almost six years, and I've used it for every podcast that I have, right, and so it's something I already use.
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It's something I will already refer.
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Like, I just told you about Buzzsprout and I talk about them a lot, but for Buzzsprout, they have an affiliate program where, for anybody who's referred by me, they would give me $20 and they would give that person $20.
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They call it their refer, a friend program, right, and so an affiliate is kind of that way where I can recommend stuff that I do anyway and then I get a commission.
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Right Now, of course, we're going to do this in integrity, like I wouldn't come and necessarily be an affiliate for something I don't believe in or I wouldn't use or my clients haven't used or anything like that.
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But this is a whole model and there are people who run multiple six-figure businesses, multiple seven-figure businesses, and it's the affiliate model.
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Now let me say this, because we're doctors and we have all the well, what are the kickback rules and all of that?
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Okay, so kickback stuff is what we do in medicine.
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It is a valid model in the business world.
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Okay, so it's not.
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It's not a kickback, like sometimes I want to keep.
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It's not a kickback, right.
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So I'm already talking about Buzzsprout a bunch.
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Then they might as well reward me, right, for what I say, so, anyway.
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So affiliates, right, okay, so that's one.
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If you have a lot of stuff you use on Amazon anyway and stuff, you can create a storefront on Amazon and put all those things there and when you recommend them you can say hey, you can go to my storefront, my Amazon store, and grab them.
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I get a commission, but it doesn't change the price to you and people can then purchase it from there and Amazon will give you a fee.
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Right Again, if you're going to do it anyway, then you might as well do it Okay.
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Right Again, if you're going to do it anyway, then you might as well do it OK.
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So that's number four.
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Number five is speaking, and yes, this could have been under services, but I like to put it separately because of the power of it.
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If you are somebody who you know, for instance, you have a YouTube channel they see you speaking on a virtual stage, right, a virtual solo stage and like OK, this person, they really know their stuff, they're really good at their content, they present really well.
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Let's invite this person to come be a speaker at our conference.
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Speaking opens opportunities for speaking, okay.
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And then, when you have that opportunity, there are two ways you can get paid.
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You can either get paid to speak or you can get paid because you offered your services on the stage where you went to speak.
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So let me use myself as an example.
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If I go to an event to speak.
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They may say, dr Una, come speak at this event, we'll pay you $10,000.
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That's the keynote model I'm paid, I do my thing and I leave.
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Or they can give me an opportunity to make an offer from the stage and so I can speak and then say I can talk about the profitable.
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So let me say I'm talking to a group of you know 500 private practice owners and I talk about you know seven ways.
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Doctors leave money on the table and how to fix it and then on the back end of it I say, hey, you know, I have this.
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We launched because of the amount of, you know, stress and failures that we're seeing within the private practice space.
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We launched a profitable private practice movement.
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It's a movement of people who have decided they're going to defy the status quo and they're going to build profitable private practices without sacrificing their you know, their families or their fitness and all of those things.
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And you can get, you can join us this moment for less than a cappuccino a day, right, because the movement is $197 a month.
00:15:35.953 --> 00:15:47.716
You can join for less than a cappuccino a day and go right here entremediacom forward slash movement and sign up for it and for everybody who signs up before this talk is over, you will get a bonus of XYZ.
00:15:47.716 --> 00:15:53.131
Now I could have 300 people sign up for it, so it's $2,000 a year.
00:15:53.131 --> 00:15:56.075
If 300 people sign up for it, that's 600,000.
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Do you see?
00:15:56.696 --> 00:15:59.419
And so that's a lot more than if I was paid as a keynote.
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So there are two ways you can get paid, but either way, your YouTube channel or your podcast, your blog, opens the door for these opportunities.
00:16:07.697 --> 00:16:09.461
Okay, all right, so that's speaking.
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Number six is brand deals.
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Now, brand deals is kind of like sponsorships, but it's a little different, because you're like the brand ambassador for it and you talk about it.
00:16:19.139 --> 00:16:22.816
Maybe you make a deal with them that once a month, you will create this video.
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It could be 60 seconds long, it could actually be a short or it could be an ad within your podcast, but you're promoting it.
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You're telling your story of how you used it and how it changed your business or changed your life or whatever, and then they pay you for that.
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You can be paid really well for this.
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We had a doctor in the entre MD business school that, in less than 90 days, had already been paid six figures for his brand deals.
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So these are things that work.
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And again, you know we have been trained like give everybody everything and do not hope for a reward from anybody.
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But in the business world that's not how it works.
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So please don't look at this as a kickback.
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It's not a kickback.
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It's not changing the way you would refer, because you would have referred this anyway.
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This is a business model that has been around since forever.
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It's not unethical.
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Okay, number seven and I put this as number seven because it's the icing on the cake, and I would really love for you to see it as icing on the cake and that is your ad revenue.
00:17:15.645 --> 00:17:18.401
Okay, so this is more so for YouTube.
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So, for YouTube, if you have a thousand subscribers and 4,000 watch hours within a 12 month period, then they will pay you for ads.