What Are The Odds Of Success As An Authority?

  • Category: MonetizingRunning Your Business

Here’s the question that popped up in a slack channel, generating some spirited discussion: What are the odds of success as an authority?

Jonathan and I couldn’t resist tackling this one (if you stick through to the end, you’ll be rewarded with a list of the six elements pivotal to success in the authority business):

Why this is the wrong question to decide whether to enter the authority space—and what to ask instead.

How your risk tolerance—and financial runway—impact your likelihood of achieving success in the short-term.

Why an emotional connection to the revolution you’re leading gives you an authority advantage.

How skills, timing and preparation (such as building an email list and/or a side hustle) will impact your success trajectory.

The importance of maintaining your focus and discipline by consistently saying no to everything not in your zone.

Quotables

“I understand the desire for someone to want to know the percentage chance, but it just feels like the wrong question.”—JS

“Your success definition is so pivotal to your odds—and there are so many possible ways to define success.”—RM

“You try to decrease the odds of a loss and minimize the impact of a loss should that happen.”—JS

“It makes sense to really think through your choices and the timeline because authority is a long game.”—RM

“Be clear about who you want to help. That is really super useful and increases your odds of success.”—JS

“You need to say no to a client who’s not ideal, say no to working outside of your genius zone, say no to working crazy hours when your intention is to have a more manageable life.”—RM

“I don’t know how you could write a book (to build authority), if you weren’t really into helping this audience or really into this particular rabbit hole.”—JS

“Decide who you want to go after, decide what your revolution is and then you can figure out how to monetize it.”—RM