Creators solve a problem for consumers, and they utilize their audience to build wealth
The internet has brought an abundance and commoditization problem to consumers, which creators help solve. - The Abundance and Commoditization Problem - While abundance makes information and products widely available, there is little personality expression when the consumer purchases, since many products are indiscernible. - The Creator Solution - The recommendation of a product from a creator turns a faceless commodity into a reliable recommendation, and self-expression and status are imbued.
Here are the three main ways creators leverage audience to build wealth - Promote. Creator’s sell others’ products to their audience and profit from engagement through: - Traditional ads (via audio or display) - Affiliate links - Sell. Creators leverage their audience to sell their own products, profiting from sales. This also cuts time courting advertisers and stimulates creativity. - Digital product examples are - Premium Content - Courses - Software - Community - Ebook - Online Events - Physical product examples are - CPG - In-Person Events - Books - Invest. Instead of advertising or selling products, creators can become solocapitalists and build ownership in business through - Direct investment from the creator, which can build ownership of a business. - Syndicates. Creators can gather their audience to invest in a business the creator has ownership of.