The Secret Wealth Machine of the 'New Rich' counterargument - Techthatmatterstg

The Secret Wealth Machine of the 'New Rich'
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https://techthatmatterstg.blogspot.com/2023/11/the-secret-wealth-machine-of-new-rich.html

here is a summary of The Secret Wealth Machine of the 'New Rich' by Mikey Posada:

The video is about a business model called synthesizing, which the speaker Mikey Posada believes is the greatest opportunity of the decade. Synthesizing involves taking your unique combination of skills, life experiences, knowledge, and interests, and sharing it with an audience of people via valuable content on the internet. This can be done through online writing, videos, podcasts, or whatever format you prefer.

The speaker emphasizes that building trust with your audience is key, as a certain percentage of your audience will be interested in working with you or buying something you produce. This is because they will have come to trust your expertise and value your insights.

Mikey Posada uses the example of Iman Gaji, who grew his audience from 776,000 subscribers to 3.4 million in the last year. Gaji teaches people how to start and run a successful social media marketing agency, but his own wealth came primarily from cryptocurrency and selling a $1,500-$2,000 course to a small percentage of his audience.

Another example is Ali Abdal, who quit his medical career to become a YouTuber. He now teaches people how to do the same thing in his program Part-Time YouTuber Academy. His wealth comes from selling this program and other products, not from his social media marketing agency.

The speaker makes the point that you don't need to have millions of subscribers to be successful with this model. There are thousands of people making a good living online by sharing their knowledge and expertise.

So, how do you get started with synthesizing? The first step is to build expertise in a certain domain of life. What problems have you solved in your life that could help others? What unique skills or experiences do you have that could be valuable to others?

Once you have identified your area of expertise, you need to create valuable content that will help your audience solve their problems or achieve their goals. This content should be educational and informative, rather than just entertaining.

Finally, you need to build an offer and monetize your audience. This could be done through courses, coaching, consulting, or selling digital products.

The speaker emphasizes that synthesizing is a higher leverage way to get paid for your skills and expertise than the traditional way of trading your time for money in a job. By packaging your knowledge and experience and sharing it with the world, you can reach more people and make a bigger impact.

If you're interested in learning more about synthesizing, the speaker recommends checking out Dan Co's content on Twitter, his newsletter, YouTube, and Instagram.

I hope this summary is helpful!