The Get PAID Business Model for Making Money with New Media

Get Paid

They say that the best business plans can be written on a napkin. This afternoon I decided to boil my business model down to four basic steps. While I didn’t write it on a napkin, it’s still simple enough that a four-letter acronym describes it — P.A.I.D.

Using the word “paid” works out nicely since in every episode of my podcast I invite you to engage your market and “get paid.” So, here it is. The four-step business model that I use to launch six-figure businesses using new media.

The Business Model

  1. P – Pinpoint your market
  2. A – Attract a loyal community
  3. I – Identify what they want most
  4. D – Deliver the solution as premium content

While I could go into a lot of detail about each of the four steps, I wanted to boil them down to their bare essence. As simple as it seems, there are some very deliberate words in there (e.g. pinpoint, community, want, premium).

Where’s the New Media?

You might be wondering why the phrase “new media” doesn’t appear anywhere in the model since I spend so much time talking about using new media. Well, the truth is that this model works independent of what tools you use to put it in to action. That’s one reason why it’s so awesome.

New media (i.e. online content) is just my favorite tool for putting the model into action. I use new media extensively at all four stages.

What Do You Think?

I’m not going to go into detail here about the model. I’ll be doing that more in the future both here on the blog as well as in my premium content offerings. For now, I wanted to present it for you consideration and feedback.

What are your thoughts about the Get PAID Business Model? What questions come to mind?

Comments

  1. says

    Nicely said. On reading the title, i thought some other meaning for PAID. Later realized.

    Adding to this, you must analyze and understand the business competition. This helps to take the appropriate actions in each stage of the business because you need to stand out from the competition. Again that depends on the market that you are selecting, if it is a popular market then for sure you have to face a big competition. Also, delivering QUALITY solution automatically helps to beat the competition.

    -Ven

  2. says

    It’s my opinion that step 2 (Attrack a loyal community) tends to be the most difficult for people because it can take weeks, months or even years to get traction.

    Has anyone ever really discussed how to build a community on a small budget. If you have money to advertise then step 2 doesn’t appear to pose too much thought. Those who are limited on how much they can spend on advertising usually get stuck at step 2.

    The principals are definitely sound though.

  3. Jason Van Orden says

    @Hank,

    You’re right that Step two can seem tricky (and that’s why it is often skipped…to the detriment of many businesses).

    However, we have more tools today than ever to attract a targeted community of loyal customers. Even better, many of these tools are low/no-cost.

    True, it takes time. But it doesn’t make it difficult. It just takes patience. The long-term payoff is huge.

    The secret is to start now and work at it consistently, even just a bit of time each week.

  4. Jason Van Orden says

    @Matthew,

    Feel free to mention it when teaching. Of course, I would appreciate being credited for it.

    @Ven,

    Understanding the competition and positioning yourself accordingly is definitely important. That is part of the process in step #1 (pinpoint your market).

    In fact, that is why I use the word “pinpoint.” It connotes a need to be focused and narrow enough that you can stand out as the #1 person in your market as you define it.

    Thanks for that input.

  5. says

    Jason,

    Nice, I like the simplicity of it. However, step 3 is really the key. Getting your community to tell you is the hardest part. Promotions? Giveaways? Contests? What has worked best for others?

    I have plenty of ideas of what I ‘think’ they want, based on me and my circle of like minded friends, but getting the community to speak up is a lot harder than it sounds.

    Keep it up!

  6. Jason Van Orden says

    @Mike,

    “I have plenty of ideas of what I ‘think’ they want, based on me and my circle of like minded friends…”

    That’s actually a really good start if these friends fall into your target market.

    I find that if they relationship is in place, your community will readily tell you. All you have to do is ask (i.e. send out a survey, ask them to reply to an email with a simple question in it). In fact, eventually they just start telling you even when you don’t ask.

  7. says

    Jason – excellent acronym – I’ll be sure to share it with the entrepreneurs I meet with and give you attribution – and it certainly works for all aspects of marketing not just online/digita/social media.

  8. says

    I like it, quite a bit. I’ve got 2 ideas that I’m working on atm and I’ll keep PAID in mind for both.