Usually, people that teach these kinds of things only seem to talk about the upside. You never hear about the downside.
I guess it's easier to sell.
But what happens when you don't truly understand the downside of what you're getting into? You aren't prepared for things.
You also tend to believe that you're building something that you really aren't.
I don't want you to go through that so in this lesson, I want to talk about the pros and cons of creating BREs.
This is the stuff that goes on the sales page because it makes your eyes widen as you see the potential.
- Good traffic. If you've been in any blogging Facebook group you've seen the daily discussions of bloggers not getting enough traffic. Well, building BREs is all about traffic and it's a good feeling getting a ton of traffic. It makes you feel accomplished. Good traffic also makes it easier to go for sponsored posts.
- A simple formula to follow. Life is easier when there is a simple formula to follow. Not something vague like "follow your passion".
- Offers more freedom for other opportunities. If you are a mission-based entrepreneur then building out BREs can be a great way to provide you time to pursue your mission.
- Can be used as practice. This might seem kind of weird because people don't think about starting a business as practice for starting a business. But it can be. Many people stop trying to be entrepreneurs because they put all of their effort and energy into something they are truly passionate about only to see it fail. What if you practiced with something you aren't passionate about but know you can grow?
- Can be replicated or outsourced. This might be the most important thing. It doesn't help if I teach you something that you can only do once. You need to be able to replicate it over and over and over again if you want.
- A sellable asset. The way BREs are structured they become very sellable assets so you could easily use this framework to create BREs to flip later down the road.
I consider this the most important section of the whole course.
Because you need to understand what you're getting into. There is a reason why this isn't my signature course or part of Dare to Conquer
- Reliance on traffic. For this system to work you need traffic and it can be an emotional rollercoaster looking at your traffic going up and down every day. There are ways to counter this chaos (multiple BREs) but that doesn't change what happens if something crazy happens with Pinterest or Google.
- You're not building a brand. I believe that the ultimate business is one that has a strong brand behind it. One where you build a Tribe that is loyal to what you do and more importantly loves everything that you do. Your BRE can potentially become that but many times they don't and there is nothing wrong with that.
- Can get caught with tunnel vision. Because you find the formula and how well it works, you might find that you don't want to try and build an audience (email list) or create products, because it's easier for you just to write content and get traffic. That's very limiting.
- Limited revenue ceiling. Due to BREs getting a healthy portion of their revenue from ads, your revenue ceiling is limited unless you get a team of writers that can continue to pump out multiple pieces of content daily allowing you to get millions of pageviews each month.
- Ads aren't the future. We are still a while away from this happening but there will be a time where sites don't have display ads. Over time companies are going to find that they don't perform as well as they want and find other places to spend their money.
My goal with telling you these Cons isn't to discourage you. I believe BREs are awesome but the worst thing that can happen is you get caught with your pants down when a change happens somewhere.
If you're aware of the pros and cons you can make adjustments as you go along.