My latest book Crushing It! explores which social media platform you should select to create a pillar of content that supports your business, but even a well-designed pillar will fall if it isn’t set in a solid base. What usually hamstrings entrepreneurs isn’t merely the mistakes they make when executing their vision, but the mistakes they make before they even get started.
While it can be hard to pinpoint why some influencers build attractive, lucrative personal brands that succeed beyond their wildest expectations, it’s not hard to figure out why so many who attempt to do it fail. In general, it’s because they’re putting their energies into the wrong things. They care, but not enough about what really matters. And what really matters is a pretty short list: intent, authenticity, passion, patience, speed, work and attention.
Intent
In business, the how matters, of course, but the why matters just as much. Maybe more. Why do you want to be an entrepreneur?
- To share your knowledge?
- To help people?
- To build something that leaves a legacy?
- To make a good income to give yourself and your family financial security and breathing room? To have fun with a creative outlet?
- To create community?
All of these are great reasons for building a business and becoming an influencer.
Notice what isn’t on the list?
With entrepreneurship becoming so trendy, a lot of people are calling themselves entrepreneurs who really aren’t. They should call themselves wantrepreneurs instead, and I wish they’d do this before they ruin the reputation of real entrepreneurs the same way unscrupulous brokers ruined how some feel about real estate agents or the way ambulance chasers and media hounds tarnished our opinion of lawyers.
(And I wish they’d rename themselves before they waste a lot of time and potentially money). I promise you that getting into this game for the gold is the quickest path to long-term failure. When your intent is coming from the wrong place, customers may still do business with you if they have no other option (an increasingly rare situation), but they won’t tell others to.
By definition, an influencer engenders positive word of mouth. If you don’t care enough to induce others to rave about you, all you’re doing is holding a spot for someone who really does care, the one who will waltz in and displace you.
My book features entrepreneurs at all levels of financial success and all stages of influence, but those currently at the pinnacle of both share three characteristics:
- A commitment to service
- A desire to provide value
- A love of teaching
A number were inspired to create their products after unsuccessfully searching for those products themselves, sure that if they needed them, others did, too. They started teaching when all they found when looking for mentorship or inspiration were overpriced online courses that took up their time but didn’t offer anything truly useful. When creating their content, they vowed to take the completely opposite approach by offering solid content and real value.
By their own admission, most didn’t start out as the most knowledgeable in their fields, and they certainly weren’t the most polished. But, what they lacked in experience they made up for in earnestness, honesty, and humor. Every day their podcasts, photos, videos and blog posts improved, drawing their audiences back again and again. They gave, gave, gave, gave and gave some more, often for free. And customers came back again and again.
Was it because they liked getting stuff for free? Sure, everyone does. But, if a product stinks, even free won’t make up for your customers’ disappointment. In addition, a stinky product blows any chance you might have had to earn your customers’ trust and loyalty. No one comes back for products or advice that doesn’t work.
Now, I’m the least naive person you’ve ever met. Some may hate me for saying this, but I don’t believe that most of these people give so much away because they’re so goddamn selfless. They’re human, which means that, like everyone else, they have their own selfish wants and needs.
But, I also believe they are humans who fall into the 51 percent. That is, if your nature is at least 51 percent altruistic and only 49 percent selfish, you have a real shot at breaking out, because the vast majority of people are 70 to 99 percent selfish. Could you use altruism as a tactic? Sure, but altruism is not the kind of thing you can fake for very long.
All the people I’ve known who’ve tried have been able to grow only so big before they were financially and/or emotionally broke. I’ll bet some of the people mentioned in my book started out using altruism as a tactic, and they were good at it because it came naturally.
Then they noticed that consumers react pretty strongly when they feel that you give a shit about them, which gave them the incentive to play up that side of themselves rather than fight it, which is what most of us rocked in the cradle of capitalism have always been taught to do. Breaking the money first rule is also how I got to where I am. I have never cared about the money.
I do, however, care deeply, obsessively, about my legacy. I want the world to mourn me when I die, not just for being a decent human being, but for building something tremendous and predicting where the future of business lay. And then I want to fucking own the afterlife. Being good and generous and giving a crap is the only thing that will get me either of those goals.
Three out of 10 people don’t like me the first time they catch me online or hear me talk because they think I’m full of shit, and that my habit of giving so much away for free, whether it’s time, advice or mentorship, is just a gateway to making money. They don’t believe anyone really cares that much. I do, though, which is why the majority of my haters eventually change their minds if they give me a fair hearing.