The Dangers of Making An Ask

Summary

• A friend of mine had a podcast that grew quickly and got millions of downloads.
• His business grew almost entirely from people who listened to his podcast.
• He made a lot of money when he asked his listeners to buy something.
• He thought asking more often would make him more money.
• He kept asking more and initially made a bit more money.
• Eventually, he made less and less money each time he asked.
• His listenership dropped because he lost the goodwill of his audience.
• The key lesson is to balance how much you ask from your audience to maintain their trust and engagement.

Video

How To Take Action

Implementation Strategies for Small Business, Entrepreneurs, or Personal Growth:

1. Prioritize Value Over Direct Selling:

   • A good way of doing this is to share your expertise and helpful tips regularly. Offer genuine value without asking for anything in return frequently.

2. Build Trust and Goodwill:

   • Engage with your audience consistently. Respond to their comments, answer their questions, and show appreciation. This strengthens the relationship and builds trust.

3. Limit Your Asks:

- Make sure to balance how often you ask for something from your audience. If you’re a small business owner, limit your promotional messages to 1-2 times a month. This keeps your audience from feeling overwhelmed or used.

4. Monitor Audience Feedback:

   • Pay attention to any changes in your engagement metrics. If you notice a decline, it might be time to dial back on the asks and increase the value you’re providing instead.

5. Create Content That Educates and Entertains:

   • Whether you have a podcast, a blog, or a social media presence, focus on creating content that educates or entertains your audience. This keeps them engaged and coming back for more.

6. Utilize Low-Cost Tools for Feedback:

- Use free or low-cost tools like Google Forms or social media polls to gather feedback from your audience. Understanding their needs and interests helps you fine-tune your content and asks.

7. Set a Content Schedule:
   • Plan your content in advance. For instance, have a weekly educational post, a bi-weekly Q&A session, and a monthly promotional post. This maintains a good balance and keeps your audience engaged.

By focusing on these low-cost, high-value strategies, you can grow your business or personal brand while maintaining the trust and engagement of your audience. Remember, the goal is to provide value first and ask second.

Full Transcript

so there was a friend of mine who had a podcast that blew up very quickly he had millions of downloads and his business started to grow a lot and it was almost 100% from people who were listening to his podcast and so he realized he made an ask during one of his podcasts he made a lot of money and what happened was he learned the wrong lesson he thought when I make an ask I make more money and so what I'll do is I'll just make more asks and so he did make more asks and he then made a little bit more money and then he contined to make less and less and less until eventually his listenership dropped and dropped and dropped and then it got to the point where he didn't even feel like making them anymore because he had lost the Goodwill of his audience