Today I would like to talk about a mistake I made building Entrepreneur Millionaire.
At first, I thought that I could create a forum where entrepreneurs connect with entrepreneur millionaires and build a thriving community. The problem was that I was charging more than what it is worth at a price of $25 per month.
I was blinded by the money I wanted to charge, but forgot about what would bring a community together and for that community. The concept of adding value was never present in my formula. Shout out to Peter Voogd for putting me on the right track.
After I began to reach out to potential members who I thought would benefit from my new community, the feedback I received made me take a step back and think. Most of the messages I sent out on LinkedIn was ignored mainly because:
1. I made the mistake of reaching out to my connections without building a relationship with them first.
2. My initial message did not present any type of value added to them.
I was presenting them my product without adding any value to them. I was breaking one of the secrets to success I talked about earlier. If you don’t provide enough value to a potential customer, the customer will never buy from you. The value you are adding has to be worth more than the price you are charging.
As an entrepreneur I began to think about how I can add more value, so I scrapped the idea of a forum and decided to focus more on creating valuable, consistent content for Entrepreneur Millionaire. I will also be focusing more on growing our following through social media.
Right now, almost everything is free until we have built up a sizable audience that can create products our customers need. We have started new daily posts which consists of Entrepreneur Millionaire ideas.
I have also decided that I would like to help my fellow Black community and become a role model to the young Black kids that want to become successful, but only see athletes, celebrities, and rappers as the only people who are making money.
It is time to take back our communities and show young black children that you can become a successful Black businessman without being involved in shady deals, drugs, or anything that is illegal. The media has used and abused the notion that the only way Black people can be successful is through illegal activities.
I’m personally tired of hearing the used out plots. A drug dealer uses his drug money to start a business. A businessman is secretly a drug dealer. Why do the Black businessman they portray have to be involved with drugs?
The crazy thing is that Blacks are sometimes writing these scripts. Yes, it is good for entertainment, but it is also important to have shows that empower.
The stories of the Black woman who bootstraps to start a multimillion dollar company is never told. A poor Black man formed a legitimate business is never told. A Black family saved up enough money to build wealth for generations to come.
Let’s do something about it and come together as a people to build a network of Black businesses that allows the Black dollar to circulate for 30 days in our community instead of 6 hours.