The Skinny Confidential: Influencer Branding in 2019

TL;DR

Focus on a platform and be patient for success.

Transcript

• My advice would be to pick a platform, and niche down on a platform, and completely become obsessed with that platform, and use that as a foundation to launch more brands, and to become popular on other mediums. - [David] This is Entrepreneurs, The Playbook where I give you access each week to the world's greatest athletes and executives about th... Read More

Key Insights

• Choosing the right platform and focusing on it is crucial for building a brand. Lauryn Evarts Bosstick emphasizes the importance of niching down and becoming obsessed with a chosen platform.
• Patience is essential in building a digital audience. Both Lauryn and Michael stress not to focus on monetization for the first two years and instead build a loyal following.
• Having a unique perspective and speaking to a specific audience is vital. Lauryn talks about creating a persona to target content effectively.
• Building a community around your brand can lead to organic growth. Lauryn's secret Facebook group exemplifies how a targeted community can expand a brand's reach.
• Working with a significant other requires clear boundaries and defined roles. Lauryn and Michael share their experiences and challenges in managing both personal and professional relationships.
• Investing back into your brand is crucial for growth. Michael emphasizes reinvesting profits into their businesses to sustain and expand their ventures.
• Handling criticism constructively can strengthen a brand. Lauryn discusses how she deals with negative feedback by focusing on constructive criticism and ignoring baseless comments.
• Successful branding involves long-term vision and adaptability. David Meltzer highlights the importance of evolving ideas and maintaining patience in building substantial brands.

Questions & Answers

Q: What is the key advice Lauryn gives for starting a brand?

Lauryn advises to pick a platform and become obsessed with it, using it as a foundation to launch more brands. She emphasizes the importance of niching down and being methodical and patient in building a brand, as well as the power of podcasting and micro-blogging in today's digital space.

Q: How do Lauryn and Michael suggest handling monetization when starting?

Lauryn and Michael suggest not focusing on monetization for the first two years. Instead, they recommend providing valuable quality content consistently to build a loyal audience. Once the audience is established, monetization will become easier and more organic.

Q: What challenges do Lauryn and Michael face working together?

Working together presents challenges such as setting boundaries and defining roles. They manage by maintaining separate responsibilities within their businesses and coming together on specific projects like their podcast. They emphasize the importance of communication and not discussing business in personal spaces like the bedroom.

Q: What is the importance of having a unique perspective in branding?

Lauryn stresses the need for a unique perspective to stand out in a crowded digital space. She advises creating a persona to focus content on, ensuring that the brand speaks directly to a targeted audience. This approach helps in building a loyal following and differentiating the brand from competitors.

Q: How do Lauryn and Michael deal with negative feedback?

Lauryn deals with negative feedback by focusing only on constructive criticism that can help improve her brand. She ignores baseless comments, understanding that not everyone will like her content. Michael shares a similar approach, emphasizing the importance of being true to oneself and not trying to please everyone.

Q: What are the benefits of building a community around a brand?

Building a community around a brand can lead to organic growth and engagement. Lauryn's secret Facebook group is an example of how a targeted community can expand the brand's reach and create a supportive environment for like-minded individuals. This approach helps in fostering loyalty and connection beyond the brand itself.

Q: Why is reinvesting in a brand important according to Michael?

Michael believes that reinvesting profits back into the brand is crucial for sustaining and expanding the business. He emphasizes the need for vertical integration, using profits to hire, build teams, and develop new products. This strategy helps in maintaining growth and staying competitive in the market.

Q: What role does patience play in building a successful brand?

Patience is a critical component in building a successful brand. Lauryn and Michael highlight that building an audience and a loyal following takes time, and rushing to monetize can be detrimental. David Meltzer adds that having a long-term vision and allowing ideas to evolve naturally contributes to sustained success.

Summary & Key Takeaways

• Lauryn Evarts Bosstick and Michael Bosstick discuss the importance of choosing the right platform and focusing on it to build a successful brand. They emphasize the need for patience and not prioritizing monetization in the early stages.

• The couple shares their experiences of working together, highlighting the importance of setting boundaries and defining roles to manage both their personal and professional relationships effectively.

• David Meltzer provides insights into the significance of having a long-term vision and adaptability in branding, using examples from his career to illustrate the importance of patience and evolving ideas.