Bloggers, Are You Building Your Assets?

One of the things I constantly preach is the importance of treating your blogging like a business. That is, if you actually want to make a business-level income from it. That means thinking strategically about what you’re doing and how you’re developing. In everything that you do, you should be thinking about how it is increasing your leverage and increasing your assets. Increasing your assets results in increased leverage. So, what do I mean by assets?

One of the things I constantly preach is the importance of treating your blogging like a business. That is, if you actually want to make a business-level income from it.

That means thinking strategically about what you’re doing and how you’re developing.

value_in_dictionary In everything that you do, you should be thinking about how it is increasing your leverage and increasing your assets. Increasing your assets results in increased leverage.

So, what do I mean by assets?

In offline circles, we usually think of “stuff”. Things like houses, cars, computers and furniture. However, in the field of online business, these things aren’t as significant. They don’t really increase your leverage. In other words, you cannot USE these things to grow your business online – at least directly.

So, what are the assets we need to build for our online business? Things like:

  • Your List. Very definitely leveragable. The size of your list is often directly proportional to the size of your income. An email list and a solid relationship with that list is one of the most important things you can have and leverage online.
  • Content. As bloggers, we are consistently creating content. Done correctly, it turns into a leveragable asset. More on that in a bit.
  • Products. Unfortunately, most bloggers seem to drop the ball on this one. Products are highly leveragable. Not only can they be marketed and sold in order to bring in revenue, but they can be given away, offered as bonuses, etc. Products are essentially any self-contained body of knowledge which you can give to somebody else. Video courses, e-books, printed books, membership sites – it all fits the bill. Without having products to leverage in your growth, you’re essentially building nothing.
  • Data. People often underestimate the importance of simple data as a leveragable asset. For example, the data you can glean simply from your Google Analytics stat reports can be very useful to see what works, what is popular, where people are coming from. This is important data that nobody else has. Ever run a split test? Those results are useful data. Ever given something a try and failed at it? We all have, but guess what? That’s useful data that can be applied next time.
  • Relationships. Although not physical, your relationships with other people in your niche are points of leverage.
  • Knowledge. It is important to always be increasing your own personal pool of knowledge, because this, too, is an asset you can draw from. It increases your leverage.

Surely there are other examples.

Now, I mentioned content. We’re creating it pretty routinely, but are you thinking about leverage? Most bloggers just write something and quickly publish it. You’ve got to post something, right? Sure, we all have to do that sometimes. But, don’t do it ALL the time. You NEED to be thinking about leverage. How can you use content again and again? How can you get maximum “bang” from your content?

This is why a large portion of the content I produce is not in the form of free blog posts. I can do other things and get more leverage. Such as…

  • Webinars. I am doing a larger number of webinars, both for Blog Masters as well as Inner Circle. All webinars are recorded. That gives me a 1-hour video of high quality content. I can take chunks of those videos and use them elsewhere. I can use them as products in multiple forms. I could create a DVD from them if I were so inclined. I could get them transcribed.
  • Videos. A simple 2-minute video is distributed using TubeMogul to, let’s say, 10 different sites. That’s 10 outposts for my blog from a single 2-minute video. Plus, I can post it on the blog and use it as a blog post.
  • Reports. I take content and put it into a PDF report. It doesn’t even matter if some of the contents of the report could also be found on the blog. By putting it into a report, I’ve increased my assets. My leverage. I can use that report as a list builder, a bonus, etc.

Get the idea?

So, are you just typing some stuff and hitting the “Publish” button?

OR… are you building ASSETS?

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Responses

  1. This post is too long for me. I set down last night to finally put my goals for next year in the type and then they break down into actions, I can get them. These things will also help to get me many, if not all of those goals. How to benefit you for being my thanks for the excellent suggestions … Now it's time to get out there and start doing it:)

  2. I love this article dude. However, this is my personal greatest challenge, that perhaps you might want to answer how: How can I have confidence that we are producing the right product for the right people? Is there any basic standards that you can tell us how can we have this desired confidence?

    David, I just want to tell you how you are inspiring me to become a marketer and not just simply a blogger.:) Thanks a lot!!!

  3. Instead of business treat your blog like a big showroom.

    In showroom you will kept everything related to your business.
    You keep your showroom neat and beautifully arrange
    You talk with your customers politely and provide good suggestion so that they come again and again.

    So instead of business I recommend treat it like a big showroom.

  4. it's also good to create offline promotion to increase leverage for your site. I believe that business cards and brochures still work in endorsing our products or service

  5. Most of us is great starters but when execution time comes in thats where we lost our concentration. Well done.

  6. Yes, I've just been producing content for my new website/blog in order to have something for doctors to read. However, I'm in the finishing days of producing my first FREE eBook I will be using to generate more interest in membership and getting emails. My next product will be something I sell such as a boxed system or instructional book.

    I still need to start incorporating video and video interviews into the program as I hope will happen soon.

    Great food for thought David. Thanks.

  7. Thank you for the important reminder David… and I second the comment by Joe Gilder about writing series posts that then become an asset …

    there's so much to know in this business and then there's remembering to apply what I learn!

  8. David Risley, you're a pain in my assets. I kid. Great points. I'm definitely guilty of “get it written quick, publish it, and never look at it again.”

    As far as blog posts go, one great way to leverage them is to take a fairly in-depth topic and do lots of series posts on that topic. It'll give you something to write about every day, and when you're done, you've got a great chunk of content for an eBook. If nothing else, you've got lots of articles to link to, and since all the articles will be interlinked, you've got a much stickier blog.

    David, you continue to rock.

  9. …there's also the conventional business view of the asset value of the business itself. A blog generating a 6 or7 figure income a year is worth a tidy sum when you want to retire!

  10. I've been listening to Clay Collins talk about this and like the way he repurposes content.

    My model of building a digital empire is what I'd like to call an asset based business. Build tangible assets, not blog posts and blog comments.

  11. I use GotoWebinar. And to record it, I use both the built-in GotoWebinar recorder (only works with Windows) as well as Screenflow to record it locally. I'm getting to a point where I want to record from two locations in case one goes awry somehow.

    If I'm doing audio-only, I often use Wiretap Studio (Mac) to record it. I've got the MP3 of the call literally about 2 minutes after its over. Which is awesome.

  12. Mmm, guilty as charged.
    I just hit the publish button – but I make sure I create valuable content. Looks like I'm thinking more like a blogger then a business man.This is awesome reminder, Dave,
    got to treat my place more than a small business

  13. Great article here David.

    Most of these points I have adapted. But in the process of refocus some of them. Was not moving in the right direction with them. So have to find a different strategy.

    Especially list building and product building is something that gives us newbies some challenges.

    So I will start the list building part all over again on your BMC training. But it works for me have some new ideas and strategies that I am working on. So working on finding a different approach to my list building ideas.

    I like your Webinar approach and with the recording option.

    And ref Owen's question earlier here, maybe I should request an article on Webinars.

    Cheers.. Are

  14. Hi David what tool or service do you use for your webinars? Also how do you record the video and MP3?

  15. Good stuff, David. just as I published an investing-related post, here you are giving us tips on how to see our blogs as assets… just like in the financial worls assets mature over time, same thin online leveraging the work you do today for tomorrow's gain is very smart.

  16. I've been spending a good amount of time on developing products – everything from 1-on-1 consulting to downloads on home theater setup and more. I'm even putting some ideas together on a membership site!

    These are fantastic tips and anyone out there blogging, and hoping to get PAID doing it, needs to pay attention to what David has to say.

  17. Great post David! I think it's great how you can keep us bloggers constantly thinking and looking at things from different perspectives.
    I'm always trying to think of ways on how I can leverage my content so it reaches as many people as possible, from article marketing to social media, video marketing, guest blogging, building relationships, you name it. Every page you put out there is another asset and should be viewed as that.
    It can be quite overwhelming sometimes. I think the key is to select a few and focus on them 100%, evaluate its effectiveness over a course of time and switch out what's not working and try something new. I agree, Google Analytics is an invaluable tool to help you do this!!

  18. Hi, David,
    This post is extremely timely for me. I set down last night to finally put my goals for the next year into type and then break them down into actions I can do to achieve them. These points will also help me to achieve many, if not all, of those goals. Thank you for the excellent tips on how to leverage what I have going for me…now it's time to get out there and start doing it 🙂

  19. Just takes looking at things a lil different to get the most out of what you produce.

    Just another layout to how to look at your blog as a business not JUST an online diary of things you want to psot about.

  20. Hey Ms. Freeman,
    Nice to see you here on David's blog. I think you do a good job of building relationships with other bloggers – me, for instance. I like that “building relationships” is included on this list as a valuable asset. It makes all the difference in the world to have people around who leave comments and answer questions and give advice when requested.

    Well done on your list, David!

  21. Yes I fully admit to “neglecting” the full spectrum of developing relationships with my already current list. What a crazy good asset I've neglected. I've committed to engaging with them more through email and providing the value that they came to rely upon me for to begin with.

    I'm also working on “the book you love David” lol and it's going to rock. I'm re-purposing content (I've been blogging for 4 years jeeze), and bringing some of it up to date but also using very new and timely content as well.

    I've clearly not been leveraging my assets but am dead on now.

    Valuable post brother.

  22. There's the creating of the assets, then there's the selling of the assets.

    The creating part I have pretty well figured out. It's the selling part I'm working on now.

    Relationships and networking just take plain old “time in the saddle,” and that effort is coming along as well.

  23. Hey David

    You make a great point here.

    Leveraging all that we do online should be at the forefront of our minds when we set upon a task blog post, article, video etc. The more distance we can get out of our work the better position we will be in.

    Online assets. Great list here. Working on the products is my next stop.

    Thanks
    Dwayne

  24. Great blue print for success. I see a lot of bloggers focusing on building lists and contents but very few are concerned enough with building relationships and collaborative alliances. I'm not saying its not happening but very rarely.

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