How to Turn Your Passion into Profit

Attention is the most monetized asset.

You're not too late.

Every time I talk to someone about content, entrepreneurship or business ideas-- they always think they are too late.

Sahil Bloom (1.5M social media followers) has a perfect quote for this "I always thought I was too late. Every time I thought that, it turns out I was wrong.

I had been following Sahil since he had just 500k followers. He made that statement back then, and has since 3x his social following.

We feel too late due to a cognitive bias that forms over time.

We invest significant portions of time into areas of interest, and then those areas start to feel normalized to us.

We view the world as if everyone has the knowledge we have, and there is nothing new about it.

It creates an echo chamber that skews our perception of reality.

A creator with 50k followers (which is no small task), sees a creator with 50 million and feels discouraged.

They might think "I really don't know much when someone else has grown to 50 million"

But there are probably 100s of thousands of people who trade places with the 50k follower and would pay for their knowledge.

Its all about perspective.

Attention is the Most Monetized Asset

It's no secret that the digital age has consumed our attention.

Americans spend an average of 7 hours per day online. Almost 50% of waking hours.

There are 4.35 billion social media users and is expected to grow to 5.5 billion by 2027

Digital advertising spend was 626.86 billion in 2023 expected to grow to 700 billion in 2024.

These numbers don't life. Your attention is extremely valuable.

This is typically how your attention gets monetized:

Companies pay social media platforms to show you an ad as you spend time online.

They then hope that after enough ads you eventually purchase their product.

There is nothing new about advertising, but social media has created a new social condition of online content consumption

Social Media Can Be Your Enemy or Friend

The algorithm can control you or you can control it.

If you only follow friends, family and news channels-- chances are you probably feel like crap every time you log onto social media.

You're filled with comparisons and fear of what's going on in the world.

But imagine if you follow creators, business leaders, thinkers, artists and writers who inspire, educate and inform you.

Doesn't that sound like a significantly better online experience?

The problem is most people don't even think about tailoring who they follow and what they consume.

They leave their fate to the algorithm.

But the algorithm can work for you.

I challenge you to go to your favorite platform after this and do the following:

  • unfollow everyone who doesn't make you feel better

  • start following those who do

  • Interact with content that inspires, educates and informs you

I guarantee your feed will look dramatically different within a week.

Building Your Future

I have a friend who was hired solely on her Instagram. They never asked for a resume.

I have another friend who makes a few thousand every month from his niche websites.

I was hired at Forbes solely based on my websites.

The professional landscape is changing. People are being hired and making money from having an online presence.

The best way to do this is by "building in public".

this refers to is starting a side project and post content about it on social media.

For example, let's say you want to build a freelance business where you sell your marketing skills.

You can create content around:

  • Getting clients

  • Creating marketing packages

  • Building your first website

  • Digital marketing trends you are watching

All of these will start to build an audience that has the same interests as you.

The thing that holds people back is being afraid of putting themselves out there.

I was afraid of what my family or friends would think.

Once I got over that fear, I felt like an imposter who didn't know what they were talking about. (Imposter Syndrome)

I'd be lying if I said I got rid of all these fears, but the key is to keep pushing regardless.

You are not alone in feeling this way.

There will always be a reason to be afraid, but learn to just take action regardless of the fear.

Turning Your Passion Into Profit

You have a $100k sitting inside your head.

Yes you read that right.

Until the day I die, I will keep telling people to start selling their 9-5 skills online.

I don't think everyone is or should be an entrepreneur.

You don't need to quit your job (especially if you like it)

I love my job, but that doesn't stop me from making money on my own.

Every single person reading this has skills or can acquire skills that they can package up and sell to others through consulting, freelancing, a book or course.

If you want to take advantage of the attention economy, you have to build digital leverage:

Social media + content + website = digital leverage

Digital leverage + Product = $$$

Those two equations are the epicenter of the creator economy.

If we want to get real nerdy, this is the equation I use:

(Traffic + Product) x Conversion Rate = $$$

Traffic refers to the amount of people that see my product through social media, website, ads etc.

Naval Ravikant is known making this is point famous.

He says that content and code are the modern forms of leverage.

Luckily for us we don't need to know how to code anymore. There are a million no-code apps that can get us up and running in a few hours.

But the starting point is content creation.

Crafting content that inspires, educates and informs people to the point of wanting to follow you is difficult.

Crafting content that turns your audience into customers buying your product is even harder.

But it's all possible.

I'm launching the Magnetic Content Masterclass to teach you how to identify, create and capture attention with your content. Other creators are charging $150+ for this course, but I’ll be giving it away for free.

If you want to get early access to the launch, you can register here:

Talk soon,

Matt

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