Make Money Online (Without Destroying Your Reputation)

Summary

The speaker shares insights on monetizing online content without alienating the audience. They recount personal experiences in building a personal training business and emphasize the importance of the 'gift-ask' ratio, advocating for a 'give until they ask' approach. The transcript discusses the power of providing value to build goodwill and the strategic timing of 'right hooks' to maximize audience engagement and revenue. It also touches on the long-term benefits of patience and supply-demand dynamics in growing a business.

Takeaways

• 😀 The key to making money online without feeling sleazy is balancing how much you give versus how much you ask.
• 📈 A good give-to-ask ratio has been studied extensively and is crucial for maintaining audience goodwill.
• 📺 Media companies use a give-to-ask ratio, such as 47 minutes of content to 13 minutes of ads, to keep viewers engaged.
• 🤝 Instead of giving three times and then asking, give until your audience asks you, indicating they are ready for your offer.
• 📣 Giving in public and selling in private helps build goodwill and maintain audience trust.
• 🆓 Offering value for free can compound your audience, turning them into long-term followers.
• 📊 When starting out, make a declaration of business post to show what you've been up to and lightly ask for support.
• 🕰 Patience is key; holding back on asks can result in significantly greater returns over time.
• 💡 Use integrated and intermittent asks depending on the content format to maintain a strong give-to-ask ratio.
• 🏷 Keep demand higher than supply to drive up pricing power and profits, giving as much as possible to grow your brand.

Q & A

What is the main topic of the video script?

The main topic of the video script is about making money online without feeling icky or sleazy, focusing on the concept of the gift-ask ratio and how to effectively give value before asking for money.

What is the 'jab jab jab right hook' concept mentioned in the script?

The 'jab jab jab right hook' concept popularized by Gary Vaynerchuk is about giving value multiple times (the 'jabs') before making a request or 'asking' (the 'right hook'), which is a strategy to build goodwill with an audience before making a sales pitch.

What is the author's tweak to the 'give give give ask' concept?

The author suggests a slight tweak to the concept by recommending to 'give until they ask,' which means providing value until the audience is ready and asking for something in return, indicating they are interested in what you have to offer.

Why is it suggested to give in public and sell in private?

Giving in public builds goodwill with the audience and reinforces the brand positively. Selling in private allows for a more personalized approach and is less likely to disrupt the audience's experience with constant public sales pitches.

What is the significance of the audience being the asset rather than the content?

The audience represents a long-term asset because they are the ones who will consistently engage with and potentially purchase from the creator. Content is temporary and can be consumed and forgotten, but an engaged audience can lead to sustained growth and revenue.

How does the author define patience in the context of business growth?

The author defines patience as figuring out what to do in the meantime instead of waiting. It's about taking action and making strategic moves to continue growing the business while waiting for the right opportunities.

What is the importance of 'leaving money on the table' in the context of the script?

Leaving money on the table means not taking every opportunity to make a sale immediately, which can be beneficial in the long run. It allows for the growth of the audience and the potential for much larger returns in the future.

What is the difference between integrated and intermittent asks in content?

Integrated asks are naturally woven into the content, such as mentioning a product or service during a discussion. Intermittent asks are standalone, like a single post about a service among a series of unrelated posts, and are typically used for short-form platforms.

How does the author suggest using the 'right hook' effectively?

The author suggests using the 'right hook' sparingly and strategically, considering the time component and the potential for audience growth. It's about maximizing the long-term value of the audience rather than making immediate gains.

What was the author's first public declaration of business, and how did it help him?

The author's first public declaration of business was a post offering free personal training to anyone willing to donate to a cause of their choice. This approach helped him gain his first 20 paying customers by showcasing his value and expertise.

Why is it important to maintain a high ratio of giving to asking?

Maintaining a high ratio of giving to asking is crucial to preserve the goodwill of the audience and to ensure that the brand continues to be seen as valuable and trustworthy. It helps in building a loyal audience that is more likely to engage and purchase in the future.

Outlines

00:00

💡 Mastering the Gift Ask Ratio

This paragraph discusses the balance between giving and asking in online business. It emphasizes the importance of giving value before making asks, illustrated by a personal story of gaining clients through social media. The concept of 'give until they ask' is introduced, where providing value builds goodwill, making audiences more receptive to offers. The paragraph also highlights examples from media companies and suggests giving in public and selling in private to build a strong, engaged audience.

05:01

🔄 The Power of a Declaration of Business

This paragraph explores the significance of making a 'declaration of business' as a first step in gaining support and clients. It recounts the author's experience of announcing his personal training business, leading to positive responses and initial clients. The idea of providing free value to demonstrate expertise and gain testimonials is stressed. It encourages new content creators to make their first post a light ask, showcasing their journey and building goodwill before asking for support.

10:02

⏳ The Value of Patience and Strategic Asking

This paragraph highlights the importance of patience and strategic asking in business growth. It tells the story of a friend who turned down a significant deal with The Rock, illustrating the potential long-term benefits of waiting. The author emphasizes the concept of operationalizing patience, focusing on continuous value creation while controlling supply and demand. The goal is to maximize growth and maintain a high demand for services, ensuring that when asks are made, they are highly valuable.

Keywords

💡Monetization

Monetization refers to the process of converting online content or services into revenue. In the video's context, it is about making money online without alienating one's audience. The speaker discusses the importance of a balanced approach to monetization, using the 'give, give, ask' strategy, which emphasizes providing value before making a financial ask.

💡Goodwill

Goodwill is the positive sentiment or trust that an audience holds towards a content creator or business. The video emphasizes the importance of maintaining goodwill by not over-asking from the audience, which can lead to audience loss. The speaker shares examples of how over-asking in a podcast led to a decrease in listenership due to the loss of goodwill.

💡Gift Ask Ratio

The gift ask ratio is a concept that refers to the balance between providing value (giving) and making a request for financial support (asking). The video discusses the importance of this ratio, suggesting that creators should 'give until they ask,' which means providing substantial value before making a financial request.

💡Jab Jab Jab Right Hook

Jab jab jab right hook is a concept popularized by Gary Vaynerchuk, which suggests a strategy of providing value multiple times (jabs) before making a single request (right hook). The video uses this concept to discuss the importance of giving value before asking for financial support, but suggests a slight tweak to 'give until they ask' for a more organic approach.

💡Content Creation

Content creation is the process of producing and sharing online material such as videos, podcasts, and social media posts. The video script discusses content creation strategies, emphasizing the importance of giving valuable content to build an audience and goodwill before monetization.

💡Audience Compounding

Audience compounding refers to the growth of an audience over time through consistent and valuable content creation. The video explains that by continually providing value, an audience can grow exponentially, which is a powerful asset for content creators and businesses.

💡Integrated Asks

Integrated asks are requests subtly incorporated into content, as opposed to direct interruptions. The video discusses the effectiveness of integrating asks into long-form content like books, videos, and podcasts, using the example of promoting a book launch while providing valuable content.

💡Intermittent Asks

Intermittent asks are requests made occasionally and separately from the main content. The video suggests that for short-form platforms like Instagram or TikTok, intermittent asks are more appropriate, with a caution to not overdo them to avoid losing audience goodwill.

💡Supply and Demand

Supply and demand is an economic principle that affects pricing and profits. In the context of the video, the speaker discusses how controlling supply while increasing demand through content creation can lead to higher prices and profits, emphasizing the importance of not over-asking to maintain demand.

💡Declaration of Business

A declaration of business is an announcement made by a content creator to their audience about their intentions to monetize their content or services. The video script provides an example of how the speaker made their first declaration of business, offering free personal training in exchange for donations to a cause, which led to their first paying customers.

💡Patience

Patience, in the video's context, refers to the self-discipline and strategic waiting involved in growing an audience and business over time. The speaker discusses the importance of patience in not rushing to monetize but instead focusing on building goodwill and audience size for long-term success.

Highlights

The importance of not feeling sleazy when asking for money online and the impact on personal relationships.

The author's personal experience in acquiring the first 20 clients through social media for a personal training business.

The concept of the 'gift ask ratio' and its significance in maintaining audience goodwill.

Gary Vaynerchuk's 'jab jab jab right hook' concept and its adaptation for content creation.

The media industry's use of the give-ask ratio and its impact on viewership and listener engagement.

The author's proposed modification to the give-ask ratio: 'Give until they ask'.

The psychological principle of reciprocity and its application in content and audience building.

The power of giving in public and selling in private for brand reinforcement and audience growth.

The compounding effect of audience growth and its long-term benefits for content creators.

The distinction between audience as an asset versus the content created.

The two types of asks in content creation: integrated and intermittent.

The effectiveness of integration in long-form content and the importance of maintaining the give-ask ratio.

The strategy of under-asking to preserve and grow audience goodwill.

The author's first public declaration of business and its role in acquiring the first paying customers.

The concept of 'leaving money on the table' and its strategic importance in business growth.

The importance of timing in making the right hook to maximize profits and audience growth.

The strategic approach to supply and demand in content creation and its impact on pricing power.

The author's personal strategy of maximizing growth by giving more and asking less.

Transcripts

so you want to make money online but you

don't want to feel icky or sleazy to the

people who know and love you when you

ask them to give you money so there's a

good way to do it and there's a bad way

to do it the good news is I can show you

step by step how I got my first 20

clients posting on social media for my

personal training business a decade ago

and I've continued to use that in each

company going forward and this is a

sneak preview from my upcoming book 100

million dollar leads which you can check

out at acquisition.com forward slash

leads so there was a friend of mine who

had a podcast that blew up and very

quickly he had millions of downloads and

his business started to grow it

skyrocketed and it was almost 100 from

people who were listening to his podcast

and what happened was he made an ass

during one of his podcasts he made a lot

of money he thought when I make an ask I

make more money and so what I'll do is

I'll just make more asks he learned the

wrong lesson and so he did make more

asks and he then made a little bit more

money and then he would continue to make

less and less and less until eventually

his listenership dropped and dropped and

dropped because he had lost the Goodwill

of his audience the key point I'm going

to talk about today is mastering the

gift ask ratio how much to give versus

how much to ask garyvee popularized the

whole concept jab jab jab right hook

which is the idea of giving giving

giving and then ask it not take but ask

the good news is this ratio has been

incredibly well studied why because the

biggest media companies in the world

want to be able to ask on their

platforms as much as humanly possible

without losing viewership listenership

audience on television for every 47

minutes of content there's 13 minutes of

advertising if you look on Facebook

every four posts there's one ad it's

almost like a three to one ratio between

how many ads there are and how much

content there is what I want to do is

give you my slight tweak on the give

give ask concept instead of give give

give ask I'd like to just change it to

give until they ask you and that's when

you know your audience is ready for you

to make an offer and my personal

preference here is actually to give in

public and sell in private whenever you

give you deposit Goodwill into the

audience if you give someone something

first they're far more likely to comply

with your request later when someone

helps us we feel indebted to them we

want to help them back right that's how

Society works but with media we can do

that at scale you can gain Goodwill and

provide value to millions of people at

once but then it all funnels back to one

person and that's why it's so powerful

and it's free when you do it that way

your brand consistently is reinforced

publicly and you continue to grow and

expand it will force you to keep that

content amazing so that you continue to

reinforce your reputation if you

consistently give and give and give then

what happens is your audience compounds

and this is something that I didn't

understand for a long time the audience

is the asset not the content you make so

when I make a video and then it

disappears in three days on my news feed

what that one piece of content is is it

got me 300 more people to start seeing

my stuff and then they permanently enter

the audience provided I don't ask too

much too frequently in the beginning

it'll be really small and if you can

hold off and you keep giving you keep

giving you keep giving you eventually

never even have to ask publicly because

instead of asking you just start getting

transparently this is something that

I've now personally experienced and I

was like I don't know but you know what

I'll give it a shot let's just see if I

can make a bunch of business content and

see if that will attract one million

five million 10 million dollar profit

per year businesses not Revenue profit

so that I can invest them and help them

grow and it turns out it did now there's

two ways that asks work in content and

so I want you to think of your asks as

commercials you're interrupting your own

content with a commercial about your

stuff an integrated approach would be

like during the content like hey if you

want to learn more about this stuff go

to 100 million dollar leads 100 million

dollar leads is coming out and there are

eight methods that I talk about

advertising and by Design I'm using all

eight to advertise this book and at this

point we already have 200 000 people who

have registered for the book launch live

which is on this day Saturday August

19th so that would be an example of an

integration it's natural it comes up as

you're talking and then you can point to

it and you get back to what you're

saying Integrations work better for

long-form Content books videos pod

podcast blog post those are all things

that lend themselves to integrating in

very small percentages of the total

amount of time it takes someone to

consume something for example if I made

an integration and I started with a

minute about something valuable and then

I spent five minutes in the middle

talking about my thing you still need to

keep the ratio of minimum three to one

because remember television's 13 minutes

to 47 right for a 60 Minute slot in

terms of commercials so that's the Max

and so for me I would rather be at like

98 give two percent ask so if we looked

at the total seconds of this video the

give to ask ratio is still super strong

and I'm not going to lose audience

because of that ask the other way is

intermittent which means in between

things intermittent is typically better

for short form platforms if you have 10

Instagram posts or 10 Tick Tock reels on

the 11th one you make one about your

services that you offer and then you go

right back to the pre-programmed show

it's even harder because if you're doing

multiple posts a day I wouldn't do more

than

three percent so once or twice a month

one post that feels reasonable and

you're not gonna lose audience and so

fundamentally the actual cost of the

commercial is not money but Goodwill how

much of my audience am I losing by

making this ask I though to be clear I

always want to under ask my audience

personally so if you're new to making

content believe it or not you've

actually been providing value to certain

people for an extended period of time

it's you actually do have a decent

amount of Goodwill if you make your

first post what I would just call like a

declaration of business which is just

saying like hey you know you guys have

maybe been following me for a while you

might know me you might not from

personal from College from work from out

of the bars this is what I'm doing with

my life now and I would love to give you

guys something for free that would

benefit you and if that sounds cool

awesome if not keep following me be

posting more about this stuff very quick

very simple and I was actually able to

find my first public decoration of

business which is here this is April 9th

I'm actually coming up on uh 10 years I

hit my decade in business how about that

for those of you know me you know

two things one I am terrible with all

things technology logical still true for

example I just heard about Spotify a few

weeks ago seriously two I love training

slash nutrition and fitness more than

well a whole lot so today is sort of

special because it marks a day when my

love of training vanquished to see me

trying to use fancy words Vanquish my

fear of Technology what do I mean

for the better part of a year I've been

taking part in a free personal training

project that I would give away free

personal training to anyone who's

willing to give 500 to a thousand

dollars to a cause of their choice give

value for an extended period of time for

a small group of people to prove that

you know what you're doing so you can

get testimonials by the way this way

they wouldn't have to be motivated by

the same thing as me but be motivated to

give to their cause and benefit

themselves when I first introduced the

idea I was happily surprised the amount

of positive sport I received so almost a

year for my first client I now have a

website to formally show some of the

transformation that I've gone underway

using my programming and as a formal

means of contacting me about signing up

I currently have a few slots open on my

roster so drop me a quick note if you're

interested thanks so much take a second

to check out some of these ridiculous

transformations in record time would I

make this post again today probably not

but I'm proud of the kid who did it

because I had given value for free to

people free because they didn't pay me I

had them pay someone else because I

wanted them to Value it but making that

first Declaration of business post was

actually how I got my first 20 paying

customers I got 20 people who message me

because because I to be fair I had

always been in shape and people had

known me my whole life as a guy who was

always obsessed with Fitness so it made

sense that I would make that my next

natural thing and so you've provided

value to people for a long period of

time you can make your first post a

light ask which is just declaration and

asking for support and then you can

start the business now if you have no

content up to that point show them what

you've been up to and then you can make

your ask I would encourage you to make

that first post because I think it'll

show it's possible and I think if I can

get you that first win you'll be far

more likely to continue and if you're

wondering well at what point do I fully

right hook my audience and just drain it

of Goodwill Real Talk part of the game

is quote leaving money on the table so

let me give you an example friend of a

friend had a tequila business that was

pretty big big enough that the rock

approached him Dwayne Johnson

and The Rock said I would like

two-thirds of your business

and mind you when you did that that

might have been a big ask I don't know

they said no now fast forward years

later the rock started his own tequila

brand which is now worth 6 billion so

they probably would have made out really

well with that but here's the thing if

the rock had done that deal at that time

he might have actually lost out on what

he ultimately made with terramada and so

that means if someone says hey Alex can

you endorse my thing if I say yes today

it's probably going to be a bad deal for

me because in two years my audience

would be significantly larger and so

will yours when you're thinking about

these right hooks there's a huge time

component and the thing is is that

compounding gets crazy near the end

every time you decide to make the right

hook if you hold it it could be 10 or

100 times bigger 12 months 24 months

later could you imagine if two years ago

when I started making content and I just

started getting early engagement my

YouTube videos and Instagram and people

start dming me they're like hey can you

Mentor me which I don't do if I had said

sure I'm gonna do it I would have

stopped my growth curve and I would have

just been just another dude but by

holding back and it takes a lot of

self-discipline self-control and

patience which by the way if you want

the definition for me operationalizing

patience is just figuring out what you

do in the meantime you don't actually

wait you just figure out what you do in

the meantime because I am in the game of

making money my goal is to always have

significantly less Supply than I have

demand and I always want to keep that

demand because that is the Holy Grail of

what you want Which is far more people

who want to do business with you than

you have capacity to do so the strongest

driver of pricing power and profits is

supply and demand when we make content

what we're actually doing is

artificially Shifting the demand curve

in our favor and the other side of this

is that if you are the business owner

you control Supply and so you can

inflate your demand and at the same time

cut your supply and when you have that

happen

price goes through the roof and so do

your profits I'm all about growing as

fast as I possibly can which means you

got to give as much as you possibly can

just keep giving and people will start

coming to you you'll start not even

having to ask you'll just start getting

and if you're going to ask because you

need to put food on the table which I

understand for me I would be way more

than the three to one ratio more like 10

times that would be like a 30 to 1 ratio

of giving to asking so I keep maximizing

my growth and keep my brand compounding

while still making a little bit of money

for me because I know that long term the

more I hold back my ask the bigger it

will be