- Mindset, Money and Freedom by Brendan Chaplin
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- Business Breakdown #8: Creating and monetising a community
Business Breakdown #8: Creating and monetising a community
BUSINESS BREAKDOWN
‘IF YOU CAN SEE IT, YOU CAN ACHIEVE IT’
by Brendan Chaplin
Hey friend,
Today’s business breakdown is all about how you can start a free community and monetise it, very quickly.
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Let’s get into it.
So communities. What are they, how do they work, how can you benefit from building one?
Well a community is where like minded people hang out together. So in actual fact your local coffee shop is a community. The pool at the back of our house is a community because we share it with a bunch of people.
You can create a community through your organic social media platform by encouraging discussion.
But the play is bigger than that.
You build an audience first.
Then serve that audience in your community.
From there you do the following:
Ask.
Listen.
Create.
Just this last month two interesting conversations. Firstly a padel tennis fitness coach asked me how to make money online. I said loads of ways. But start with creating an awesome free community and bring your people together.
An experienced DJ i’m working with, literally i’m talking Ibiza nights, Dubai, seasoned promoter of club nights, came on board to talk about monetising his skills. The answer : Start a free community for your people. The answers will come.
And here’s how the model works…
Decide who your community will serve. Be specific not broad. Mine is called MMF, mindset, money and freedom, because these are important to my people (you) and it’s an area I’m super passionate about too so I can be that leader.
Name your community (more on that below).
Decide on a platform. Go with something free and accepted. Normally Facebook group, WhatsApp, Telegram or even Linkedin. You can move later as you’re getting traction.
Invite your first bunch of members. Don’t obsess over volume. Less really is more, especially at the start.
Naming: Two options:
Faceless or Leader Led.
Faceless would be something like “The Ultimate Padel Tennis Community”.
Leader led would be: Mindset, Money and Freedom with Brendan.
You choose. Depends on what your vision is and how you see yourself monetising it later.
Speaking of money….:)
Monetising your community:
The beautiful thing about the community model is that the audience tell you what to build.
In my previous business I have had groups with thousands of fitness coaches in, I ask, they answer. And then I build them the solutions to their problems.
So many options here’s just a few:
Sponsorship with like minded companies.
Eg Padel tennis could be rackets and clothing.
DJ’ing could be music sites, club tickets etc.
Fitness could be nutrition and clothing companies.
Membership content. Create additional content for members. The DJ community could create music.
Coaching and Consulting: Help your people achieve what they want. If it’s signing high value clients people come to me for example. One of the Spain Facebook groups my wife is in is run by legal firm who use it so sell visa applications.
Retreats and Experiences: Again create what your members want.
Products: You can create digital masterclasses, guidebooks, courses and sell them to help solve peoples’s problems.
Over to you…
Look you know what I’m going to say here.
JUST GET STARTED.
Set up a WhatsApp group for your people and invite the first 10-20 people. Ask a load of questions, post daily and then invite more. Incentivise people to invite others. Post links to your community everywhere and make it easy to join.
What you’re getting here is an incredible way to learn more about your market, see and seize opportunities, and become a better business.
What will your community be?
Shoot me a message and let me know :)
Talk soon,
Brendan. Xx
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