Financial Focus & Content Flow

Making Content and Using AI

This call focused on providing strategies for consistently creating valuable content, gamifying the process through a "content bingo" challenge, and exploring how AI can streamline content creation workflows. The overarching goal was to help overcome inertia around content creation.

The Content Bingo Challenge  

Using a bingo board format to incentivize taking diverse content creation actions

Chris introduced a "content bingo" board with different content activities like writing a blog post, creating a video, etc. The idea was to gamify the process of consistently creating content across multiple formats and platforms. Completing a full bingo line or coverall bingo would be the goal to strive towards. This turns content creation into more of a fun challenge versus an intimidating obligation. The variety keeps things fresh and caters to different strengths.

Action Steps:
1. Print out or bookmark the content bingo board
2. Commit to crossing off at least one square per week
3. Celebrate small wins along the way towards bingo lines

Overcoming Content Creation Hurdles
Pushing past inertia and negative self-talk around content creation

Chris acknowledged that consistently creating content can feel overwhelming, especially when you're not yet seeing results from the effort involved. He aimed to reframe it as a worthwhile process of gradually building an audiences' trust and relationship with you over time. Negative self-talk like "but no one's reading/watching" can become a self-fulfilling prophecy if you let it freeze you into inaction. The bingo approach makes it feel lower-stakes and more manageable.

Action Steps:
1. List out your common negative thought patterns around content creation
2. Reframe each one into a positive affirmation (e.g. "I'm planting seeds for future growth")
3. Piggyback content creation sessions with other habits to make it feel more natural

Leveraging AI for Content Assistance
Using AI tools like ChatGPT to augment and accelerate content creation  

Chris spent time exploring the expanding capabilities of AI language models like ChatGPT for aiding in various content creation tasks. From generating content outlines and drafts to editing and repurposing existing content into new formats, AI can be a powerful force multiplier. He encouraged everyone to start experimenting with these tools and pushing the boundaries of what they think AI can handle.

The key is learning how to prompt the AI effectively to steer its output towards your desired goals, whether that's ideation, writing, analysis, or other content needs. Combining human creativity with AI's skill in rapid iteration can unlock new levels of quality and consistency.

Action Steps:
1. Sign up for a ChatGPT account (or another AI writing tool)
2. Study effective prompt engineering techniques
3. Identify 2-3 aspects of your content creation process to pilot using AI assistance

Creating for the Long Game
Adopting a patient, long-term mindset towards cultivating an audience through content

Throughout the call, Chris reiterated that building a loyal audience of any substantial size through content is a long-game endeavor. It's about planting seeds of value consistently over years, not chasing ephemeral metrics like viral hits or vanity follows. Each piece of content contributes to a body of work that showcases your expertise and viewpoint. An audience's trust gets earned gradually through the accumulated weight of that content over time.

The goal isn't any single piece going viral, but developing a self-perpetuating machine for continual audience growth. This slow burn approach may be at odds with our cultural obsession with insta-fame and get-rich-quick schemas around content creation. But true resonance and authority accrue through patient, committed effort.

Action Steps:
1. Determine your personal "why" for creating content beyond just business metrics
2. Set an audacious multi-year goal for the size of your ideal audience
3. Plan content cadences and formats you can realistically sustain long-term

Resourcefulness and Overcoming Limiting Beliefs
Developing a resourceful, "figure it out" mentality versus staying stuck in limiting beliefs

Chris challenged the group to push past self-imposed limitations and scarcity mindsets that can stunt growth as entrepreneurs. He insisted "the prize is you" - putting the onus on each person to tap into their own ingenuity and resolve to overcome obstacles.

This requires cultivating a mindset of resourcefulness, where you get scrappy about finding creative ways to solve problems and achieve goals versus making excuses. Every limit is an invention of the mind. With the right psychology and determination, you can always find a path through or around barriers.

Action Steps:
1. Write down your biggest limiting beliefs currently holding you back
2. For each one, list out alternative perspectives that empower more possibility
3. Share your limiting beliefs with the group and crowdsource resourceful solutions

The Importance of Taking Ownership
Fully owning your goals, actions and results as an entrepreneur

A key separator between entrepreneurs and others is the degree of psychological ownership they take over their activities and outcomes. As an entrepreneur, there is no boss or system to depend on - you are the entrepreneur and "chief reality creator" of your world.

This means no more amateur, half-committed efforts. You must take full ownership and responsibility for your dreams, put in the work, and be unstoppable in finding ways to create the reality you want to see. Half-measures and waiting for permission will only lead to disappointing results. Embrace being the owned of your destiny.

Action Steps:
1. Get crystal clear on your biggest goals and write them down
2. Audit where you're making amateur, de
nial-based or victim-minded excuses
3. For each goal, list out 5 "ownership actions" only you can take full responsibility for

Adopting a Long-Term Perspective
Looking past short-term losses/frustration towards your long-term vision

Building something enduring as an entrepreneur requires phenomenal patience and fortitude. Too often, temporary setbacks or chunks of time with slower progress provoke excessive self-doubt and premature quitting.

Chris emphasized the need to cement an unwavering long-term perspective internally. Turbulence and volatility are inevitable when charting a new course - the goal is to cultivate the resilience to push through the storms. Those who can stay  centered on their deeper "why" and quasi-spiritual calling amidst the noise are the ones who break through long-term.

Action Steps:
1. Write out a vividly-detailed multi-year vision for your desired future self/business
2. Identify which short-term frustrations currently cause you to feel discouraged
3. Re-commit through ceremony (vision board, personal event, etc) to your long-term path

Chris Do on Financial Planning for Business

Chris Do shares insights on how to approach financial planning for your business by examining financial records, projecting future earnings, and setting realistic and stretch goals.

Key Points:

1. Review Financial Records:
  - Look at your financial records for the first two quarters (Q1 and Q2).
  - Identify any anomalies, such as gaining or losing a significant client.
  - Understand why your numbers may differ from the expected.

2. Calculate Gross Income:
  - Determine your gross income for the first half of the year.
  - Gross income is the total earnings before expenses, not profit.

3. Project Future Earnings:
  - Take your gross income for the first half of the year and divide it by two to estimate your quarterly income.
  - Project this quarterly income for the remaining quarters of the year to get an annual projection.

4. Set Goals:
  - Use your projected annual income to set financial goals.
  - Establish a realistic goal based on your current trajectory.
  - Define stretch goals for additional motivation and potential growth.

Key Action Steps to Implemen:

1. Gather Financial Information:
  - Review your financial records for Q1 and Q2.
  - Consult with your accountant, financial planner, or a trusted advisor to gather accurate data.

2. Analyze Anomalies:
  - Identify any unusual financial activities or changes in client base that may affect your numbers.
  - Understand the reasons behind any significant financial changes.

3. Calculate Projections:
  - Divide your gross income for the first half of the year by two to find your average quarterly income.
  - Multiply this average by four to project your total annual income.

4. Set Realistic and Stretch Goals:
  - Based on your projections, set a realistic income goal for the year.
  - Establish stretch goals for potential higher earnings to motivate and challenge your business growth.

5. Track Progress:
  - Regularly review your financial progress against your goals.
  - Adjust your strategies as needed to stay on track or to achieve your stretch goals.

By following these steps, you can create a structured approach to financial planning that helps you understand your current financial position, project future earnings, and set achievable goals to drive your business forward.

Chris Do on Showing Gratitude for Client Generosity

Chris Do discusses how to appropriately express gratitude to clients who provide new opportunities and financial support, emphasizing the importance of personal effort over monetary gifts.

Key Points:

1. Visualize Client Generosity:
  - Imagine receiving tens of thousands of dollars from a client as new opportunities.
  - Think about how you would respond to such a gesture.

2. Avoid Monetary Gifts:
  - Giving money in return can be perceived as offensive or cheapening the act of generosity.
  - Instead of giving money, focus on expressing genuine gratitude through thoughtful actions.

3. Effort Over Money:
  - Effort and personal touches are more meaningful than monetary gifts.
  - Reflect on personal relationships where effort made a significant impact over financial gestures.

4. Personalized Thank You Notes:
  - Write a heartfelt, personalized thank you note on quality stationery.
  - Visit a stationary store and choose a nice card stock and envelope.
  - Use your best writing pen to craft a sincere message.

Steps to Express Gratitude:

1. Write a Personal Note:
  - Address the client by name.
  - Express sincere appreciation for their support and the new opportunities they have provided.
  - Mention how your business relies heavily on referrals and how much their support means to you.

2. Avoid Generic Gifts:
  - Be mindful of the client's preferences. Generic gifts like flowers may not always be well-received.
  - Take the time to understand what the client would genuinely appreciate.

3. Example of a Thank You Note:
  - "Dear [Client's Name], I recently heard from [Person's Name] that you had sent him my way. As a small business owner, referrals are 90% of how I get new business. From the bottom of my heart, I truly thank you. If there's ever anything I can do for you, please do not hesitate to call. This isn’t about money. This is just about my genuine appreciation for you."

4. Communicate Your Dependence on Referrals:
  - Highlight the importance of referrals to your business in your note.
  - This subtly encourages the client to continue supporting you through referrals.

By focusing on personal effort and thoughtful communication, you can effectively show gratitude and strengthen your client relationships.

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Chris Do on Setting and Monitoring Financial Goals

Chris Do discusses the importance of setting and monitoring financial goals for your business on a quarterly, monthly, and weekly basis to ensure you stay on track.

Key Points:

1. Focus on the Next Quarter:
  - Break down your annual goal into manageable quarterly, monthly, and weekly targets.
  - This helps in maintaining focus and tracking progress effectively.

2. Annual Goal Breakdown:
  - Example: If your 2024 goal is $100,000, divide it by 4 to determine your quarterly goal.
  - Quarterly goal: $25,000.

3. Quarterly to Monthly Breakdown:
  - Divide the quarterly goal by 3 to get the monthly target.
  - Monthly goal: approximately $8,333 (for simplification, Chris uses $8.5K).

4. Monthly to Weekly Breakdown:
  - Divide the monthly goal by 4 to get the weekly target.
  - Weekly goal: approximately $2,125.

5. Weekly Monitoring:
  - Track your weekly progress to ensure you are on track to meet your goals.
  - Adjust your efforts if you are falling behind or performing above target.

6. Self-Monitoring as CFO:
  - Many small business owners may not afford a CFO, so it's crucial to develop basic financial literacy.
  - Understanding and managing your finances boosts confidence and helps in achieving your goals.

Actionable Steps:

1. Set Your Annual Goal:
  - Determine your financial goal for the year (e.g., $100,000).

2. Break Down the Goal:
  - Divide the annual goal by 4 to get your quarterly target.
  - Divide the quarterly goal by 3 to get your monthly target.
  - Divide the monthly goal by 4 to get your weekly target.

3. Track Your Progress:
  - Monitor your weekly earnings to ensure they align with your target.
  - Adjust your efforts if you are behind or ahead of schedule.

4. Develop Financial Literacy:
  - Educate yourself on basic financial principles to effectively manage your business finances.
  - This knowledge empowers you to make informed decisions and stay on track with your financial goals.

By following these steps, you can systematically approach your financial targets, ensuring you stay on track throughout the year and adjust your efforts as needed to achieve your business goals.

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How to effectively establish yourself as a thought leader and create valuable content that resonates with your target audience.

1. Develop Awareness Strategies:
• Actively promote your business and expertise to make others aware of your presence.
2. Write Thought Leadership Content:
• Pretend you're being interviewed by a top industry magazine.
• Write down 10 significant questions and answer them in detail.
3. Distribute Content Across Platforms:
• Post your answers on Linkedin and repurpose them for other social media platforms.
• Aim to be present across multiple channels to reach a broader audience.
4. Engage with Your Audience:
• Monitor the traction your content receives and engage with your audience to build relationships.

Resources:
Here are the links mentioned in the chat:

1. Claude AI: https://claude.ai/
2. Pik's Instagram: https://www.instagram.com/kungpikliu/
3. Pik on LinkedIn: https://www.linkedin.com/in/kungpikliu/
4. Pik’s website: https://www.designangel.la
5. The Futur Pro Library - Lead Gen Support: https://thefutur.com/membership/pro-library/lead-gen-support
6. The Futur Content - Mastering the Language of Business Success - With Phil M. Jones: https://thefutur.com/content/mastering-the-language-of-business-success---with-phil-m-jones
7. The Futur Content - How to Write Social Media Content That Attracts Millions with Jasmin (Jay) Alic: https://thefutur.com/membership/pro-library/how-to-write-social-media-content-that-attracts-millions-with-jasmin-jay-alic

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