With the development of the internet, information has spread
beyond measure.
This led to the development of a more advanced, global, and
accessible society.
Societies consist of institutions, and communities with shared
beliefs, and cultural ideas.
The most notable aspects are the school system, workforce, social
and business tribes, and religious establishments.
Social media has expanded and collapsed the lines between these.
Everything is becoming more holistic and interconnected like rain
to the ocean as the pattern of Universal division and unity hints
at.
The public school system had many problems:
- Convergent thinking
- Compartmentalized learning
- Conformity over authenticity
- Memorization over process
- Failure as something to avoid
- Authorities as unquestionable
- Long work over efficiency and true value
- Intelligence defined by book smarts
-
Decade-old curriculums that only worry about training you into a
replaceable job
The new school system in the creator society allows individuals
to:
- Pursue their curiosity
- Find teachers (creators) that they learn best from
-
Treat learning as a part of life rather than an annoying
obligation
-
Learn modern skills that allow you to adapt fast to the
fast-changing environment
-
Find specific knowledge that contributes to their pursuit of
self-generated (rather than assigned) goals
-
Prioritize entrepreneurship as it is the only logical end goal
for those that want more out of life
The new school system is internet content. None of this is
labeled. It is just a part of virtual life.
The religious establishments narrowed the minds of its followers
and fought any perspective that contradicted their own.
Now, spiritual awareness and education are accessible in most
creator brands.
You can open your mind, study different perspectives, and
self-experiment until you cultivate a philosophy that suits you.
This is not only for spiritual growth, but mental, financial, and
health-related.
I've always had the dream of doing what I loved for a living.
Who hasn't?
So I tried and failed at dropshipping, e-commerce, graphics design, YouTube, agency work, and more.
I finally saw some success with freelance graphics design.
Enough to quit my job and go all in.
1 year later, I realized that I built myself into a new 9 to 5.
I quit my job because I loved building my own projects.
I thought freelancing was the answer, but I was spending countless
hours still doing work for other people.
So I tried coaching (and made a decent amount of money) but was
met with the same story.
I became a creative because I wanted to focus on my
CRAFT.
I wanted to do my own thing, not someone else's, so why did I keep
falling into that trap?
This is when I made a crucial realization:
I had to earn with my mind, not my time, as Naval would say.
This realization led me to social media.
If I wanted full control over my time and income, I had to focus
on building a digital product.
Why a digital product?
-
Low-marginal cost of replication – You can
build the product once and sell it forever without investing
in more inventory or property.
-
Can be scaled as one person – All you need to
do is focus on building an audience (the fun stuff) to fuel
the digital product.
-
You remove the cap on your earning potential
– The amount of money you make is determined by (1) how good
your product is and (2) how much relevant traffic you send to
it with an audience, paid ads, or other beginner methods you
learn in the course.
Building a digital product is what allows you to take your
one-person business to $5 million+ in revenue working four hours a
day (because you don't need to spend time delivering the product).
It gives you the cash flow to invest in any new company without VC or
investors.
Freelancers and coaches will scream, "That's not possible!"
because they still have the employee mindset.
They don't understand that
once you have a digital product the amount of money you make is
determined by how much traffic you send to the product.
If I have a digital product that requires close-to-zero time from
me, what's stopping me from creating content all day to build an
audience to fuel that product?
I had a few more profound realizations as my journey went on:
1) Micro Education Businesses Are The Future Of Schooling
I'm convinced that the future of schooling will be done on the
internet.
With creators as teachers…
And each student can learn from those who align with their
interests, worldview, and skill level until their needs inevitably
change.
Can you not see this happening already?
-
People have
lost trust in the traditional school system
to secure their future
-
People are
turning to creators to teach them valuable
knowledge and skills
-
The creators are
attracting people with similar personalities
for an optimal learning experience
-
AI and automation are threatening labor jobs
and enabling online businesses to do more with less employees
People are realizing that the only way to secure their future is
to acquire valuable skills, knowledge, and interests that they can
pass down to others online.
They aren't worried about becoming an
influencer.
They are dedicated to becoming a
value creator.
Have you not already learned from creators teaching things like
marketing, sales, psychology, self-improvement, fitness,
graphic design, video editing, photography, AI, woodworking, car
building, no-code tools... or any other possible interest
imaginable?
Do you often think,
"I know all of this stuff... I could do the same thing."
If so, what's stopping you aside from your own limiting beliefs
and conditioning?
2) Everyone Should Have A Digital Product That Makes $10K/month
How to start a billion-dollar company:
Don't.
Start as one person.
Pursue a goal in your life.
Acquire the knowledge and skills to achieve that goal.
Sell it to people who want to achieve that same goal.
If you can't do that, why do you think you'll be able to build any
other kind of business?
Personal growth is about solving problems in your life.
Entrepreneurship is about solving problems in others life.
When you do both, you unlock purpose, meaning, and fulfillment.
"Okay, I've achieved a goal, how do I turn that into a
product that earns a living?"
-
Build a tutorial – Sell a beginner-level
tutorial of a specific skill, practice, or interest. Web design,
building cars, Photoshop, guitar.
-
Build a program – Sell an action plan or
program that people can adopt as a daily routine. Fitness,
productivity, self-improvement, etc.
-
Build a system – Sell a system that people can
implement into their work or business. Lead generation, content
creation, etc.
Most smart individuals can replace their income, pay their bills,
or just have extra spending money.
Let's say your goal is
$54K/year (an average salary).
That's $4,500 per month.
Or $150 per day.
That means you have to sell:
1 product a day at $150
Or 3
products a day at $50
Or 10 products a day at $15.
What can you
sell at those price points?
Almost anything in your head.
For
creators, it's obvious that this should be the first step.
To
generate cash flow to replace their income and go all in on
business.
For established businesses, it's a viable option to add
a new revenue stream at 95%+ profit margins.
3) Turn Yourself Into The Business
If you've solved a problem in your life, you're qualified to start
a business.
Not just any business, an education business with
minimal startup costs.
Once you have cash to invest in your dreams
of owning a huge company, you can, or you can sail off into the
sunset and enjoy the free time you have.
How do you do it?
First,
understand why people buy a product.
They want to see a
transformation.
They want to see a slight or drastic improvement
in one area of their life. They want to
increase their market value through skill acquisition,
productivity, and self-improvement.
They want to make more money, free up time, and
increase their
quality of life.
So, we start with the eternal markets.
Health,
wealth, relationships, and happiness.
If you have experience in
any of those domains, you're good to go.
That is how we position
any product we sell.
Now, follow these steps:
The problem and goal = the transformation for your marketing.
The
steps to reach the goal is your system for getting results.
Slap a
compelling name on the system and it's unique to you.
Now, turn it
into a course, coaching, cohort, workshop, template, checklist,
system, tutorial, program, tracker, or anything else you’ve seen
other brands or creators sell.
4) Build For Yourself, Sell To Yourself
Most businesses fail because they try to solve a problem they
haven't experienced.
"But Patrick, I still don't know what to sell!"
Look at
almost any successful entrepreneur.
What do they do?
They solve a
problem in their life and sell the solution.
From bars of
home-formulated soap that helps with eczema to a habit tracking
Canva template or self-taught meditation practice.
Some general
rules of thumb to follow:
-
Build a product you've used before, but better.
-
Build a product you want but doesn't exist.
-
Build a product that solves a problem in your life.
You are the most profitable niche. When you build a product that
you would use...And sell it under your own name...To people that
have a similar personality, interests, and goals...You eliminate
most competition.