Estimated reading time: 3 minutes
In 2019, I made a post on why Entrepreneurs must pay attention to the news, and understand that the state of the global and national macroeconomy, affects their own microeconomy.
When you study the news and study trends, it helps you position your business to take advantage of opportunities and leverage economic shifts to grow your business.
One major news right now, is the so-called SOUND WARS. Club House, Apple Podcast, Spotify, Amazon Sound and Square, are currently in the lead for the sound wars. Companies are trying to buy out each other and outdo their competition.
What does it tell you? Even if you were not in the boardrooms where these forecasts were made and the fate of the economy was decided, by watching the news, you can tell the result of these decisions that were made in those boardrooms and take advantage of them.
For example, you have seen that these big companies are now focusing on sound. They are building on Podcast and Music Streaming Platforms. How do you take advantage of this shift?
- You can set up accounts on all these platforms like ClubHouse, Spotify, Anchor (Anchor can put your podcast on Spotify, Apple Podcast and other platforms), Tidal, Sound Cloud and more. Create content for these platforms to build visibility.
- You can monetize on these platforms by signing up for paid ads to be put in your content or even promoting your own products and services on your channels.
- You can be an affilitate for these platforms. For example, You can put ads for Anchor and Spotify in your podcast and when people sign up and create accounts, you can get paid.
- You can monetize your content. Anchor, Spotify and others can pay you for streaming minutes. Terms and conditions apply.
- You can grow your channel rapidly through ads, and then start accepting paid promotions from other businesses and brands. You become a brand influencer on your podcast.
- You can create your own audio platform to compete with the big guys. If you are diligent enough at growing it and put out an excellent platform, you might get noticed enough that one of the bug guys will approach you to buy your platform for probably millions of dollars.
There are so many more opportunities I have not listed here. All you have to do is look and decide on what part of the value chain you want to plug into, and then give it your best.
Opportunities are everywhere in the news, but when you only look to the news so you can complain about the state of things, you will go nowhere.
When Elon Musk passed Jeff Bezos as the richest man on the planet. Do you know what he said? “Back to work”. He’s not sitting around feeling good about himself.
Tesla became the most valuable car brand in the world and it was not because Elon was sitting around enjoying being a triple digit billionaire. He took advantage of the opportunities of the “phandemilk” instead of complaining about the problems.
How are you taking advantage of this news? Are you buying Tesla shares or complaining that the rich are getting richer?
Guess what? If you had bought Tesla shares last year, you too would have gotten richer as Elon was getting richer. You still can.
As you read the news, ask yourself, “what are the opportunities that abound in this piece of information and how do I take advantage of them?”
Not everytime complain and end your sentence with “It is well”. Get up, take action and collect your piece of the cake. Your head does not reject good thing.
Una don hear?
