1/19/2023 NHB+ Publishing Profits PDF

1/19/2023 NHB+: Publishing Profits Alen’s Live Call Notes: The Call Recording: Google Doc URL Replay URL Opening The Call: Recap on Limiting Beliefs + Identity Shifting: 01:00 - How To Identify Your Own Limiting Beliefs: Intuitive + Thought Signals If you are critical of yourself and/or others, this...

1/19/2023 NHB+: Publishing Profits Alen’s Live Call Notes: The Call Recording: Google Doc URL Replay URL Opening The Call: Recap on Limiting Beliefs + Identity Shifting: 01:00 - How To Identify Your Own Limiting Beliefs: Intuitive + Thought Signals If you are critical of yourself and/or others, this is the most obvious indicator of Worthless Limiting Beliefs - judgments reveal self-worth limiting beliefs. If you have doubts, that signals Helpless, and if you have fear, that signals Hopeful. Most people don’t know how to listen to their intuition; we’ve forgotten. This is one of the ways to understand what your emotions, intuition, and automatic behaviors/thoughts are telling you. 04:00 - Identity Work: Internal “Parts” Work Becoming is the hardest work you will do, when it comes to succeeding at new levels. In order to become who you want to be, you have to give up who you are now and were before - but that can threaten our psychological “safety”, which will trigger resistance. So this involves working on your identity, discovering and unravelling your beliefs, and identifying the internal “parts” of you that have been supporting your identity so far, so you can replace them with new beliefs. To become aware of your “parts” and limiting beliefs, see above. 08:00 - Recap/Takeaways on Limiting Beliefs and the WWH Ad Structure From Last Week We’re experiencing increased awareness and insight into ourselves, our audiences, and why our marketing is/isn’t working. As well, with the WWH Ad structure, we understand and leverage the psychological “sales process” we all go through; we can now see this is how Google became so successful - by slotting themselves into the space between awareness of the problem and awareness/intent to find a solution. Alen shares stories from the early days of the industry when they first figured out this process - once you see the pattern, you can start seeing it everywhere and new opportunities will open to you. 21:49 - Sohail Anwar Asks: How Do You Beat Procrastination/Resistance To Tasks Outside Your “Genius” Zone? Most people build a business and try to get good around the business - instead, build the business around what you’re good at. If the business you’ve built requires you to do a lot of tasks that are not motivating or rewarding for you, it won’t work for you long-term. Having boundaries around those types of tasks, as well as protecting your energy/bandwidth is also key. Be intentional with setting, reinforcing, and communicating your boundaries, so people cannot insert themselves into your work or environments (business, personal, mental, etc). 28:00 - Unravelling Limiting Beliefs: What Evidence Do You Have? Mark shares: My limiting belief is, “nothing I can do well will work online.” Every idea I come up with gets beat back down with this thought or those similar to it. To combat this, Alen simply asks what evidence he has - and there’s none. That’s how you know it’s a Worthless Limiting Belief rooted in a past state of capability - that’s what you need to look at and work on; change your comparisons, ask who you are NOT to be successful, what you need to know to make it work, etc. Who you are limits what you can do, so this is a signal to look at who you are, versus who you want to be, and start looking for ways to adjust your environment and beliefs to support who you want to be. Be careful about who you surround yourself with if you want to change - your friends/family will not change with you and may be threatened by your growth, as it shows them where they (could) have work to do if they aren’t satisfied. They will drag you down or resist your growth, consciously or unconsciously, when this happens. 34:23 - Idan Shares: Maximize, Minimize, and Simplify for Changing Beliefs/Mindset The same process we use to create change in our customers/clients and audiences, we can apply to our lives. Maximize the time you spend on things you love, minimize negative inputs and things that make you feel bad, and simplify your daily processes to unlock more peace and joy. Publishing Profits Call Begins 36:28 - Pen Names: The Secret To Unlock High-Performance and Self-Publish Many celebrities and other famous people use pen names to make their names more marketable and recognizable; we can do this too for our own products. This is a well-known and utilized tool that protects privacy and increases marketability, which is why we can use this tool for our offers as well. Not using your real name also allows you to separate yourself from your work in order to protect your mindset and self-worth, ensure it doesn’t get tied to your work and protect you psychologically so you can bring your best instead of needing to protect yourself; it can shut down the influence of limiting beliefs to unlock better performance. This is also known as an “alter-ego”. This is how you can publish yourself as an expert, without getting stuck in “imposter syndrome”. https://blog.enotes.com/2018/02/02/21-famous-authors-and-their-pen-names/ 44:03 - Content Consumption Problems; Fragmentation = Opportunity Because of limitations on content consumption, content is getting fragmented into shorter and shorter formats, being shared in a higher volume, which is causing content creators to have a harder time monetizing it. This is where opportunity arises for us, as marketers, when it comes to publishing others for profit. Because they MUST continue producing content regularly to stay relevant to the algorithms, they also don’t have time/capacity to learn/ take on more marketing, etc - but they still want to keep making money, because they KNOW it’s possible, even though their reach is declining currently. 46:00 - Two-Part Publishing - Something To Sell and A Sales Process Humans have infinite problems; we will always have new problems to replace problems we’ve solved. Content producers are solving problems that are relevant - so we can package up THEIR skills and sell them, FOR them, in order to create mutually beneficial partnerships. Content creators DESIRE this, as they are struggling on their own to monetize the reach they do have. They have something to sell, and we have the sales processes that work. 49:32 - Finding People To Publish: Qualify on Audience and Market Size To know which creators are worth publishing, you need to look at the market size. To start, look at their current audience size and whether it is growing. In any given organic community, you always have a finite amount of buyers because they are problem aware and therefore looking for a solution. The rest are not yet problem aware, are not yet looking for solutions, or do not have enough information/certainty to buy anything yet. So the buyers are usually 10% or less of the total community. Within that 10% you have different convincer models (automatic, frequency, duration). Because these buyers are limited and selling them will exhaust them (they’ll have the solution, no need to buy again), you ALSO need to look at how many new people are entering the audience of that content creator, as well as the market as a whole. These are the “turnover/churn” that we can educate/mature and guide through the sales process to CREATE more buyers and drive more revenue. If the audience is not already growing consistently, you will tap out even when educating the rest of the audience that wasn’t initially ready to buy. So you want to find creators with consistent growth, which you can then amplify with paid media, provided the overall market is large enough and ALSO has consistent growth/turnover. That’s how you find creators in the “sweet spot”. 1:00:30 - Growth vs. Scale vs. Magnitude: Qualify on Scale and Magnitude Growth means that for every increment of revenue growth, you need to supply additional resources in a 1:1 ratio - the business is growing but so are the resources it takes to deliver on the business. Scale means that for every increment of revenue growth, you can maintain or add minimal additional resources to support and sustain it - revenue outpaces expenses (typically many transactions at smaller amounts). Magnitude is the size of the things you sell and overall CLTV - large transactions. This requires credibility/authority/trust to command larger prices and deals (enterprise, very famous gurus, etc), as well as deeper product catalogs to sell them continuously over time. To succeed with publishing offers, you need scale AND magnitude to support the economics, because relying on scale requires constantly convincing A LOT of new people to make buying decisions - energy intensive and costly. While having magnitude (larger transactions or catalogs/recurring) increases the LTV of your customers so you don’t HAVE to acquire new customers at the same rate to maintain and even scale your business revenue. This gives you padding so your acquisition doesn’t have to be perfect and has more insulation for market shifts and competitors. 1:07:24 - Qualifying Markets on Relative Scale vs. Magnitude The major markets are Health, Wealth, and Love, as well as Survival these days. Health has high scale, medium magnitude. Wealth has high scale and high magnitude. Love has high scale, but lower magnitude. Survival has medium scale, and low magnitude. Understanding this allows you to understand how to build and price products in your business for long-term success and what kind of revenues/profits you can reasonably aim for/expect within the markets that suit you best or you’d enjoy most. In all of these markets, your customers need to be re-convinced in order to buy more products (according to their convincer models again), this is why we use Relationship Cycles in the back end. 1:14:20 - Qualifying Scale: More Than First Acquisition How many times can we get someone to buy from us? No business can scale on a single transaction (think: McDonalds, etc). You need secondary and tertiary transactions to sustain scale and make it economically viable. This is achieved by understanding the customer’s growth journey and their “story arc” - and having products in the catalog to meet them at different stages of their journey to the outcome. Paid media is to acquire the customer once, you need internal mechanisms to sell them again, based on the outcome path. Choose markets and partners to publish that have natural secondary and tertiary transaction possibilities in the customer’s journey, such as relationships (ex. dating, getting commitment, maintaining relationship, marriage, get the spark back, save from divorce, divorce, etc) 1:19:52 - Qualifying Magnitude: How Much Margin? Magnitude is the primary driver of margin - so how do you know that the product/offer has margin? The more ads you see in the environment already for that market, the more margin/magnitude is possible. They wouldn’t be running ads at that scale if the margins to cover them weren’t there. Do not try to find new and innovative markets - this is a big mistake and very rarely worth the risk. Be sure to research incognito or in alternate profiles that match the demos associated with markets you’re researching, so you can actually see what is in the market’s environment - otherwise tracking will only show you things relevant to you personally. Then look at what sales formats are currently running to identify the existing sales structures. 1:22:54 - Where To Find Content Creators? Go to TikTok, YT, etc, and look for people producing content related to the market you’ve chosen. Do NOT look for people with already big audiences - they will have egos and high expectations/be too demanding. Look for mid-size audiences and up-and-comers who create quality content. Also, look for integrity in the content creators - if they’re susceptible to suggestions of making stuff up etc, they are not good partners; if they are willing to screw over the customer, they will be willing to screw you over later. Look for people who care about their audience and customers. Look for passionate creators, too - they would do this for free if they could - this indicates the quality of the products they will create. Without this, as soon as the money appears, they will want to stop putting effort in (since their outcome is achieved) 1:25:00 - Identifying Offer Opportunities: Response = Need Once you’ve nailed down a market, dive in and look at what they are responding to their response indicates a need that is not currently being met. This is where you will find opportunities to create offers that meet those needs/provide those outcomes. Then your content creator will make QUALITY products that work to help them achieve those outcomes - this is how you ensure secondary and more transactions that grant magnitude. The marketing exists only to make the audience aware of how useful the product is - this is why the content creators need us because very few people know how to build this awareness effectively. So our opportunity is HUGE. 1:31:00 - Warning: Setting Up The Deals and Compensation Structure Be careful about not having a responsibility structure and detailed compensation deals in place BEFORE money actually hits the accounts. When thinking about this, imagine you already had a million dollars in the account - how would you divvy that up right now, based on responsibilities. Because people’s behavior will change once money appears, so you want to be prepared for that - what they were “cool” with when the money wasn’t real will be different than what they are “cool” with when it IS real. Have this ready to go, in detail, from the start. 1:33:57 - Initial Outreach To Creators: Generating Leads To Publish Use email, phone, or send a Loom video to present the idea to them; include an introduction to you, why you like their work/content, what you do (publishing process in general), any proof (borrowed proof is possible too “products like this, ads like this, etc”), and ask if they’d like to get on a call to discuss partnering with you. See video for flow/example and detailed script. Before you sign any deals, make sure you pre-empt them by talking about outcomes/growth BEYOND money - helping people, impact, etc - understand what they want, and why they want the money. Get them ready for what success could mean for them, so they’re prepared and can protect their most important outcomes + sense of self and personal relationships. Do NOT focus too much on the money, focus on the growth, and frame the money as a result of that growth. 1:40:09 - Joint Companies, Accounts, Etc? Joint Venture Contracts Do not create joint companies, accounts, etc - it is very difficult to get out of these things for both parties, should something not work out. Instead, use joint venture contracts between each of your independent companies. Understanding how the accounting works and who is entitled to what from the start is very important. For compensation you can do a split of back-end profits only, split of all profits, per unit sold, etc. The cleanest method is nothing on front end (black box, you’re in charge of the risk and pocket any front end profits as a result), 50/50 percent of back end profit split, provided you have magnitude on the back end (high-ticket). It is important that you do NOT cap their earning potential, or you will incentivize them to STOP putting effort in when they reach it. Whoever pays for the ads runs/owns the ad accounts and merchant accounts, and all other marketing assets like YT accounts, product IP, etc. 1:45:17 - Ghost Publishing: Faceless Offers Using Pen Names + PLR/Hired Content To avoid having to partner with a content creator, you can do a faceless offer using a pen name and hiring help to create the products on your behalf, or by leveraging PLR. However, the magnitude of this approach is limited (lack of credibility, authority, trust due to no face/interaction) and it can be difficult to generate repeat business, so your scale will also be limited. This option is viable if you’re not looking for multiple 7 figure rev/profit, but with limited magnitude and scale it’s not as sellable. It’s a less complex way to dip your toe into the publishing world as well or your first offer. 1:47:07 - Dillon Mitchell Asks: Why Is Faceless Option Not As Sellable? People like to buy from other people - without a face, trust is limited, and relationships are not as strong; there is much less “loyalty” and repeat business as a result. So the scale and magnitude are capped as a result because we can’t leverage the “who” side of the game, only the “what”. This cap on earning potential and lack of brand loyalty means other companies are less likely to want to buy this too. 1:49:00 - Abdullah Asks: How To Recreate Content Without Copyright Infringement? You don’t copy but rather model - create fresh and/or hire experts to create for you. This is common in the music industry as well. However, again, the people behind the outcome/product are becoming more and more important to buyers because of content overload. This is another reason why you’re looking for charisma and likeability in your content creator partners as well - we do not buy from people we don’t like. 1:52:34 - Clarifying What’s Expected Of The Person You’re Publishing? Be a little mechanical and clearly outline what will be expected of each of you - do NOT try to just go with the flow or scope creep happens easily. Define their responsibilities clearly in the deal/contract. If they only want to create something once and collect a royalty, give 10% or less. If they want to be active and handle customers/interact in the business, 30-50%. It is difficult to get passive-oriented folks to become active - so start with active ideally. If you can get an active partner at 30% that will give you room (20%) to hire people to help you with marketing and growth as you scale. If you do 50/50, when it comes time to hire, you’ll have to get their agreement because they’ll have to pay too, and this can become difficult. 1:55:48 - “Full and Final Control Over Marketing and Direction” Make sure it’s in the deal and contract that you have full and final control over the marketing and direction, or there will be conflict over the content creator’s desires for the marketing at some point, which will almost always hamstring your efforts and revenue as a result. If you can get them a quick win with their existing audience, this will help win them over to doing things your way. 1:57:16 - IP and Divorce Clauses The deal should give you ownership of the IP when it comes to marketing and product, and stipulate that they have a license to use it while your agreement is in effect. Should they leave, you own the assets and products, but you remove their name and recreate them with your new creator/partner etc. There can be exit tiers and clauses for how a partner can exit and at what rate they will be paid, etc. 1:58:04 - Define Profits Clearly Be sure you define what “profits” means: after which particular expenses and so on. Do not leave this vague, or “hollywood accounting” can become a problem. Q&A + Group Discussion 2:01:14 - Quick Way To Find Opportunities In The Health Market: Go to rxlist.com or drugs.com and find the most prescribed drugs; these are major problems people are looking for solutions to. Then make/sell natural alternatives and protocols for the problems these prescriptions treat. You can also look for bestsellers in different categories to get an idea of scale/magnitude - pay attention to those with the highest reviews. For the other markets, look at their related categories on Clickbank.com. 2:06:30 - Nish Asks: If You’re The Content Creator, How Much Should You Give Away Partnering With A Publisher + Red Flags To Look For? This depends on how active/passive you’ll be. Note that content itself is “perishable” and commoditized, so it’s not as valuable alone as you’d think (10% or less royalties if passive). For green/red flags: make sure they have integrity in their claims, check on refund rates, processes, etc - test them first before you go all in to ensure they have appropriate systems and are the kind of person you want to associate your brand/content with. 2:10:47 - Chad Asks: Should You Choose Markets Based On Your Personality/Strengths? Mechanics are better at scale, and Creators are better at magnitude; when looking for markets to go into, be aware of your personality and play to your strengths. Then a partner should complement where you’re weak. As well, your partner needs to be willing to give you some flexibility when it comes to the products created - if they knew what would sell, they would be selling it already, so don’t let them hamstring you with poor or unsellable products. We are the experts at creating products that sell, not them - they’ll need to be willing to trust our direction. 2:15:47 - Opportunities Don’t Last Forever - Take The Ones You Get One of the biggest mistakes many of the early OGs made was believing the opportunities would last forever, and that you could always just hop online, do a launch, and generate a bunch of cash - but things change. Take advantage of the opportunities you have now. There will always be more opportunities, but they will be different than the ones we have now. 2:17:24 - Willis Asks: How To Protect Yourself From Wasted Time/Energy When Partners Walk? Build from the beginning with clarity around what you own - marketing property and assets. Keep as much of the marketing assets in your name and control as possible own the YT channel, ad account, etc. This makes it difficult for partners to change things on you later or disappear with the business that was built, because you control the marketing aspects, and they still need you. Clarity in the upfront deal protects both of you and incentivizes both parties to continue showing up and delivering. In the worst case scenario, you can slot a new partner into the IP and keep going. 2:21:19 - The Assembly Business: Simplifying and Leveraging Offer Ownership This publishing approach makes offer ownership much easier and more accessible - it also reduces the creative input you need (and therefore, opportunities to judge yourself and self-sabotage). This is why Alen highly encourages us to publish in some form to get started as offer owners. All you need to do is gather the different pieces and put them together. You don’t have to start from scratch, it’s simplified and way more leveraged. 2:22:56 - Zell Asks: How To Structure Recurring in the Back End for Magnitude? There is passive vs active recurring. If they have to log-in to use the resources themselves to get outcomes, it’s passive (relies on them to use it - so you can set it and forget). Active is interaction-based like NHB+. Passive tends to limit the growth journey - there is less opportunity to ascend them and therefore less magnitude; ask yourself where is this going for them and what do they need to get there? Active generally helps ascend them further and builds more trust and longevity in the business. 2:28:02 - Rysard Asks: On Anatomy Of Ads - Where to Put The Why In The Image? Go to unsplash or other royalty-free images to find images related to your market keywords, and then put the “Big Why” question in the bottom of the image for maximum impact. If you study the best ads from decades gone, you’ll notice the text is usually in the bottom of the image - this allows you to get most impact out of the creative and not “clutter” the image/kill the readability. 2:31:05 - Zell Asks: What Are The Different Levels of Magnitude? The scale of the magnitude depends on the scale of the relationship the audience has with you and your story. They want your story for themselves, and interacting with you makes them feel more certain that they can gain the same for themselves. The closer they can get to you, the more they will pay for that “access” - think of this as concentric circles around you, fewer people can get closer to you, and therefore it costs more. The key to magnitude is positioning - positioning increases price elasticity, which increases magnitude. This is why you typically need a “face” or “authority” to increase magnitude because the audience is buying into YOU before the product - the more YOU are the product, the higher the price you can charge, due to likeability and trust. They are buying the person behind the product. Likewise, with big brands like Rolex, they buy the story/association behind the product, not just the product. This is why playing BOTH the Who and the What sides of the game is how you get most successful. 2:35:51 - Isaac Asks: Is It Worth Swapping Out The Why Image Worth Testing? Yes. Test the thumbnails behind the headline. 2:36:46 - Rysard Asks: If Things Are Performing Well, What Should I Be Focusing On To Improve? In the astrology niche (Rysard’s offer) you’re selling meaning/interpretation of the meaning in their current circumstances. You can test different entry points around meaning - meaning of your birthday, anniversary, birth time, etc… these create multiple entry points to the sales process, and opens them to that sales process. 2:38:38 - Billy Asks: The Rationale Behind NHB+ Pricing? This comes down to competitive vs. collaborative pricing. Alen chose collaborative pricing for NHB+ because his time input is limited and scale is possible, so he can afford to use collaborative pricing. This means people don’t need to choose between this program and others - it is possible to have both/all. If he were to charge competitively ($1,500/month +), he’s asking people to make TWO decisions because they need to leave the other one they’re in AND join his. Plus the market is full of people who have already left or said no to similar offers, and it’s difficult to change a no to a yes. Collaborative pricing opens up the market, based on their existing and previous experiences. Alen also wanted to make NHB+ a no-brainer in terms of overdelivering on value - a lot of value for a reasonable price. 2:42:42 - Ben Asks: Is It Dangerous/Worthwhile To Call Out/Discredit Copycats? There’s no need to give them any attention or respond to them - people can try to copy, but it will naturally fizzle out if they aren’t bringing anything of their own or creating anything new. The universe tends to self-correct; we cannot get something for nothing. This is because they can only copy what they can see, but they don’t understand the rationale of the decisions being made or what’s going on behind the scenes - they don’t have access to the actual “secret sauce,” and so they will fizzle out/be easily seen through in the market. This is the danger of funnel-hacking, fast-follow, and swipe culture as well, especially now that the markets are more sophisticated and cautious. 2:45:49 - Dillon Asks: How To Approach Landing Page Congruency with WWH Ads? Depending on how much WHY work you’ve done in the ad to move them into the solution state, the landing page will vary. But the goal is to move them into a solution state as quickly possible; ideally you’ll pick up in the How on the Landing page to keep them in a positive, solution oriented state now, which is the state in which they BUY. You can invert the structure as well for natural congruency, doing How, What, and Why on the landing page, with the Why becoming Why now (and other justification) when you reach the close. 2:47:53 - Chad Asks: “A Weird One” - Marketing for A Local Soccer Club? A very niche marketing opportunity can be great, but you can only help others as much as you can help yourself - be careful about diluting your focus with pro bono or low-fee work for local initiatives and non-profits. When you’re in a place of abundance, it’s okay if it’s something that’s fulfilling to you, but ensure it makes sense for you financially. Undercutting your own prices when you’re not in a position to do so can reinforce your own limiting beliefs, as well as undercut your own positioning as an expert in this client’s eyes - making the partnership dynamic more troublesome as well. Remember - they will pay someone to help them, so if they won’t pay you simply because they know you already, it’s best not to take them on. People don’t respect “favors” and “friendship” as much as they do professionals when it comes to working together - so treat it as you would any other business deal. 2:55:10 - Rysard Asks: Is There A Process/System To Continually Generate Ads? All your ads are extrapolated from your front end offer - all your ad/hooks are in your offer in order to preserve the continuity of intention. So all your copy hooks should come out of your front-end offer as well as looking at the recency and current events in their environment - tie the two together to find new angles, hook, and ad ideas. Notable Links: https://www.goodrx.com/drug-guide (Top 10 Prescription Meds 2021) https://www.rxlist.com/ https://www.drugs.com/ https://web.archive.org/web/20081029230931/http://maverickmoneymakers.com/ https://www.amazon.com/Ogilvy-Advertising-David-ebook/dp/B00EMXBZKA