Why Your Personal Brand Will Fail
There are three main reasons why most personal brands will never make enough money to support themselves and survive.
All of them have this one characteristic in common: if you have diluted focus, you will get diluted results.
Too Many Topics
The number one mistake personal brands make is that they focus on too many topics.
We see this with young speakers all the time.
They’re like, “Oh, I can speak on sales, leadership, communication skills, organizational change, hiring practices, social media, and customer experience.”
Well, they might be able to get hired a couple of times, but if you’re talking about all of those things, you’re not the expert in any of those things.
This happens all the time with personal brands because, as humans, we’re multidimensional and have many different interests.
Being knowledgeable in a lot of topics doesn’t mean you should talk about all of them publicly or professionally.
The more focused you are on one or two topics, the more powerful you will be.
Too Many Audiences
The second big mistake that personal brands make is having too many audiences.
They say, “Oh, I want to talk to everybody. I’m trying to reach the whole world.
You’re more likely to change the world by changing a FEW lives at a time.
So, choose the audience you’re most well-equipped to serve, and the one you know the best.
Too Many Revenue Streams
The third and final reason that personal brands fail is that they have too many revenue streams.
“How could I have too many revenue streams?”
Having too many revenue streams is some of the worst advice you could ever hear. You do not need multiple streams of it.
When you’re first starting out, you only need one successful highly profitable stream of income.
You don’t need a bunch of marginally performing streams.
Building ONE business is hard and if you’re spending your time creating all these products, then you’re not spending enough time building the systems required to actually market and sell.
So, if you don’t want diluted results, don’t have diluted focus.
Almost every wealthy person in the world made their money by doing ONE thing really well.
Maybe they were a football player or a musician or invested in one company.
Once you have a lot of money from that one stream of income, then you can hire people to diversify your investments.
So in order to start building multiple streams of income, you need to have a steady stream of income coming from one place.
There you have it. These are the three most common mistakes that personal brands make and cause them to fail.
They either have too many topics, too many audiences, or too many revenue streams.
In many cases, it’s a little bit too much of all three, and that is why they collec .
Choose the topic you know the best.
Choose the audience you can serve the best.
Keep a single stream of income until you have enough money and stability to diversify.
Remember, if you have diluted focus, you will get diluted results!