Turning content into a business

Turning content into a business

Think of yourself as an entrepreneur.

You’ve got an idea. You create a product (or a service) and of course you want to sell it.

The game begins elaborating a business plan where you define what you are going to sell.

Then, and only then, you go on finding your target.

Is this model a good one?

We should consider what the professor of entrepreneurship Scott A. Shane wrote in The New York Times when asked about the survival rates of new businesses, “Half of the businesses started in the United States live five years or less.”

For sure, failure is a constant in entrepreneurship. Part of the game, if you wish. Through failure we can learn.

Now, Joe Pulizzi proposes us to play a completely different game:The Content Inc. Model.

The Content Inc. Model is a system where we attract and build an audience first and define products and services afterwards.

The consumer behavior has changed. Here are some statistics:

  • 61% of consumers say they feel better about a company that delivers custom content, and are more likely to buy from that company. [Content Council]
  • People spend more than 50 % of their time online looking at content [Nielsen]
  • 70 % of consumers prefer getting to know a company via articles rather than ads [Content+]

If you wish to implement this model, follow these six steps:

  1. The Sweet Spot is when you mix your skill or knowledge area with your passion.
  2. Content Tilt. If you want the system to work, your content must be different.
  3. Building the base. Once we realize the sweet spot and content tilt, you have to publish content consistently in one core channel.
  4. Harvesting audience. The publishing activity is meant for adquiring subscribers.
  5. Diversification. At the right moment, you can expand the publishing process to other channels.
  6. Monetization. Once you’ve got the audience, you select products and services that will be the source of revenue and profit for your business.

Be Creative | Be Social

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