FBC – 412 – Losing EVERYTHING overnight (BEWARE it can happen to you too)

Losing EVERYTHING overnight (BEWARE it can happen to you too).

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You just lost everything, just like that…Sorry, bro!

These are the sort of things that only happen to people in the movies or in some distant reality somewhere in the news.

However, you might be closer to losing everything than you think. As a matter of fact, most of us are on the verge of losing it all without even realizing it.

So if you thought you were safe, then think again… In this episode, I am going to tell you about stories of people who lost it all just like that and they never saw it coming.

But obviously we are not going to stop there. We are going to make sure that YOU are prepared and that it doesn’t happen to you.

So make sure to tune in to today’s episode

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Enjoy the episode

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Remember that yesterday's podcast was about lifestyle and stuff and I saw on the  news that Covid-19 is going to affect people's lives in a bad way, and especially if these people are not doing what we talked about yesterday.

So the news is, well, you know, with this crisis, there are some changes that have been made by a lot of companies. So normally you would expect the smallest companies like small businesses to make restrictions and rules because, I mean, they're the ones that will go down the fastest. Right?

Well, you never know, because these big businesses, they have so many people sometimes that they could go down. But they have solid foundations and they make billions. So, you know, they can survive.

But anyway, so you would expect the smallest companies to make the changes. But here's the thing. Probably the biggest company on the planet, I'm pretty sure it's the biggest company on the planet, Amazon has decided to make changes as well. And these changes are going to affect so many people in seemingly like a negative way right at first glance.

So they have decided to reduce the commissions that they're giving to affiliates. And a lot of their affiliates are influencers and stuff like that, or like bloggers who are promoting some Amazon products. And so instead of making like eight percent on the product now or 10 percent, they will make like three percent.

So just imagine on these products, you know, you have a drop of like 70 percent of what you were making before. It sucks. Some of these people may have been accustomed to some sort of lifestyle. And because of all these changes, they're going to make far less money than before.

Losing EVERYTHING overnight (BEWARE it can happen to you too)

So, you know, if they don't make changes quickly and if they don't adapt their lifestyle and try to live a little bit more simply, then the future looks really, really grim for them. Remember, what I said yesterday if once you start making money and then you build your lifestyle, it becomes more and more like jet set and stuff, then, you know, if something goes bad and this is exactly the example, Amazon, some people will end up in a mix.

You're going to make less. So as much as it sucks, you still have to understand they can still make money. But again, if some of them had gotten really fancy and are not willing to have simpler lifestyles and stuff, then that can be a very, very big problem.

So it's a very good opportunity for me to remind you of a few things that I keep saying. And these are things that I live every single day. This is why I keep working on my craft every single day. And they're very important. This is a perfect example of why this is important.

Some of these platforms, as I told you, they're very different sources of income, different sources of traffic and all that kind of stuff. Right. And I told you that traffic wise, for example, you have different sources, right?

You have borrowed traffic where you will pay someone to borrow their traffic to be an influencer or you pay someone to send an email to the list and then they will bring you some people. But you know, what it means is next time you have to do this, and then you have to go through them again. OK, so that sucks.

So obviously you need those because this will give you a like a spark very quickly. You pay this person boom, they send out a blast and then you can get some sales and everything, but you'll have to repeat that.

So you want that in your mix. But that shouldn't be your only mix, it shouldn't be your strategy of only working with influencers or something. It's not a valuable business.

OK, then you have your traffic that you control, OK? And traffic that you control is stuff like Facebook, Instagram, YouTube, your Amazon account and stuff like that. But you don't fully control it because if you do something they don't like, they can get rid of you. They can shut down your account. And that sucks, right?

And then there is traffic that you own, which is what people don't really understand about business, is that they only stop at the traffic that they control because it's easy. You don't have to build it. Someone built it for you and you think, oh, that's it, that I'm gold. That's it. But no, because if something bad happens, then. Well, you’re kind of screwed, right?

Whereas if you have traffic that you own, so you here in this case will be like your email list, something nobody can take that away from you. OK, so this is where you need to strive for your business to go from your traffic that you’re controlling to convert that into traffic that you own.

And here in this case, it's Amazon, right? People thought, oh, man, I'm an Amazon business. No, you only control part of it. Now, if they decide overnight to change your commission level, there's nothing you can do about it. Nothing, OK.

And this is why a lot of people now are crying like, oh, man, you changed our commission, you want us to leave and all that kind of stuff. Because they didn't realize that on this platform, they're not in full control of it.

And maybe that's going to motivate people to start creating your own products, because with your own products, you control everything. Then when something goes bad like that, you’re not affected.