New Business Model: Brand First, Compensation Second

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For 4 months I’ve been thinking about a new business model dealing with personal branding. I had an awakening a few weeks ago. I’ve noticed that there are many people who try to make a quick buck by doing mediocre work. People put advertisements on their blogs, accumulating between $10 and $100 a week average (unless your Problogger or someone of high authority online). It’s more worthwhile to reject the $100 and come across as an honest and resourceful person to your readership. People work at jobs that are unfulfilling just to pay the rent. You don’t have to succumb to these underpinnings.

Your Personal Brand is the Key!

If you build your personal brand to the point where other’s are willing to invest more of their time, money and resources in you, you will reap many benefits. I call many of these benefits perks. Hollywood celebrities receive perks such as “goody bags” when they are invited to the Emmy’s and other events. These bags contain free items by top designers who want them to wear their brands for advertising purposes. When you are a recognized name brand, you can demand more money and you will be perceived as being worth more money.

Name brands are given free passes to events, are sent free promotional items and are treated with more respect. When your name is out there, the media will call upon you, as well as your network and potential clients.

Final Word

Why settle for a moderate income, when you can invest in your personal brand and accumulate six figures a few years later. I tell my friends all the time “sacrifice now for future potential benefits.” This statement sums up why I think taking the time to develop your network, hone your skills and become proficient at social media is what is going to deliver the income you dream about.

What do you think of this model???

Picture of Dan Schawbel

Dan Schawbel

Dan Schawbel is the Managing Partner of Millennial Branding, a Gen Y research and consulting firm. He is the New York Times and Wall Street Journal bestselling author of Promote Yourself: The New Rules For Career Success (St. Martin’s Press) and the #1 international bestselling book, Me 2.0: 4 Steps to Building Your Future (Kaplan Publishing), which combined have been translated into 15 languages.

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