Striking a balance between being rich and being famous

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richnfamousPeople are drawn to entrepreneurship for a variety of reasons including work/life flexibility,

the opportunity to contribute something meaningful to the world, the chance to make a lot of

money or the platform to get known as an expert in your field.

Regardless of your intentions, chances are you want to make money at what you do, and

use the benefits of press and publicity to market your business.  In my shorthand, I call this

getting rich and famous, even if in your humble definition this means being able to pay your

light bill on time and getting a one-line mention in your local paper.

Many first-time entrepreneurs struggle to balance the effort it takes to get rich with the effort

it takes to get famous.  So in today’s just about 8 minute podcast, (listen here) I share 5 tips including:

  1. Spend time defining your niche

    So that you know exactly who you are trying to target, and which problems they have.

  2. Create a product road map

    So that you define what you are going to develop in what order and focus your efforts.

  3. Create the infrastructure to support your product from first contact to product delivery and follow up

    So you don’t alienate your hard-won customers with crappy service.

  4. Tie your fame-garnering efforts to your niche

    So that you don’t become known as the boring, generic person who knows a little about

    a lot of stuff.

  5. Always direct people to your product page

    So that you leverage media exposure to make sales AND get famous.

It really is a challenge to make sure that you have quality products and services AND that people know you, like you and trust you enough to buy them.

How do you balance your “getting rich” efforts with “getting famous?”

Filed Under: Podcast

4 Responses to “Striking a balance between being rich and being famous”

  1. A wise woman once told me, “First you become famous, then you become rich.” My question is “How famous do you need to become before the rich part kicks in?”

  2. Eric says:

    And here I thought I was the only one that thought being rich wasn’t enough 🙂

  3. Mike says:

    Pam,

    I’ll definitely check them out, and, after being inspired by you and Andrea, I’m working on my own plan along the same lines!

    Mike

    P.S. I also wanted to compliment you on the VAB radio show. Each one has been fantastic, and I look forward to them eagerly each week (and you HAVE to do another show with Pete)!

  4. Mike says:

    Pam,

    I really enjoyed the podcast. Nicely focused and organized. You mentioned AWEBER for e-mail autoresponse and said that a good e-commmerce platform/system was important. Any suggestions there?

    Mike

    Thanks Mike!

    The most popular e-commerce software I have heard about from independent service professional “coachy” peers is http://www.1shoppingcart.com. I know it isn’t perfect, but from what I hear has the best features, and decent support. I am going to implement it soon, as one step towards my “getting rich” journey! 🙂

    -Pam

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