Does Your Business Rely on “Hype and Hope?”
Nowadays, there’s a plethora of courses on how to be a recognized expert or a thought leader and/or how you can get massive media coverage to get rich and famous overnight. Many of these “gurus” promise, “If you pitch the way we tell you, you can hopefully get massive publicity and make lots of money spreading your message.” But here’s the rub:
Publicity is not automatically tied to massive sales. Don’t get me wrong. Publicity is a great thing and can propel your business. But it’s not guaranteed to do that.
Publicity doesn’t automatically beget publicity. Just because you’re on one media outlet doesn’t guarantee that you’ll get on another. Yes, the more media coverage you get, the easier it can be to get more. But if you’re not on the right shows you can just be spinning your wheels.
That’s why I call this the “Hype and Hope” Business Model. Pitch, sit back and wait for exposure and money to roll in. It’s supposed to be that simple. But here’s why it’s not. The media’s focus is not to sell your products. It’s to inform their audience. If you sell when you pitch you won’t get on the air. And most people don’t get rich from their media appearances. For most, publicity is just the beginning. Publicity is a great way to gain expert status. Publicity can set you apart in the eyes of the public. But the question is, “Are you making any money?”
If you’re looking to be a recognized expert or a thought leader, you should look at yourself as an entrepreneur first. Your knowledge is your product. As an expert or thought leader you also need:
A message of substance. Cultural critic Baratunde Thurston says to “focus on making something and saying something of worth.” He also says, “I see far too many people focusing on the tactics of thought leadership celebrity, and less on doing something worth being celebrated.” Many people focus more on the tactics of thought leadership than thought leadership itself.
A lot of hustle. Media maven Gary Vaynerchuk says, “It’s no secret that one of my favorite words is ‘hustle.’ It’s the most important word in business and entrepreneurship. If you want to make it, you have to hustle.” Most successful people hustle to get where they are so when they sell you that it’s easy, they’re being disingenuous. Pitching the media successfully isn’t easy. All media channels, media outlets and producers are different. Learning all the nuances of this takes practice and a lot of — hustle.
A sound business model. Motivational speaker Benji Bruce says, “There’s a lot of people out there making more money than the well-known guys because they built out the right business model. Fame is not linked to how much money you make.” Fame can help but it’s useless without a business model. If you want to make money, you need a sound business model. A business model is a nice way of saying, “This is how I make my money.” Unfortunately, sound business practices often go out the window when you hear these “experts” talk about fame and fortune.
We joke about how Kim Kardashian allegedly made millions with no talent. Talent is not always necessary. But sound business practices are always necessary. And if you know anything about Kim’s story, her fame and fortune are more about hustle and sound business practices than they are about sex with Ray J.
Yes, you should pitch the media. Yes, you should market your services or else no one will know who you are or what you do. But spraying and praying is not the way to pitch the media. Exposure doesn’t pay the bills. “Hype and Hope” is not a sound business model. A message of substance, a lot of hustle and a sound business model still get the job done, whether you’re an expert or not.
