Largest Club on Clubhouse

Since its launch, Clubhouse has become a phenomenon with its users and entrepreneurs alike. And now we are starting to see those users ask the question…’ how can I make money on Clubhouse’. In this week’s show, we will talk to a number of entrepreneurs that can show you some of the possible ways to make money on Clubhouse.

Authentic Conversations and Connections

One important aspect of using Clubhouse is that it provides a contextual conversation. As people talk on the platform, they can give you a pretty good summary of who they are through their own words. Each time someone shares on Clubhouse, they’re sharing something about themselves, about their values, and about their life. This provides an opportunity to have a more in-depth and meaningful conversation with them. Be a collector of stories. People will discuss their wants, needs, and wishes through this platform. These insights might provide the connection that could lead to potential monetization. Document their story and make sure to weave that into the conversation in DMs with somebody because it shows that you were listening.

Each time someone shares on Clubhouse, they’re sharing something about themselves, about their values, and about their life.

But don’t pitch yourself. Have a 10 to 15-second clubhouse pitch that will intrigue listeners. Something that will have them checking out your profile and maybe contacting you because they think you might be able to help or solve a related issue.

If you would like to meet a speaker and possibly make a connection, be the first one to the room when things are just getting started. An opportunity might present itself as the speaker takes stock of the room.

Monetization

Since Clubhouse is still in its’ infancy, the monetization side of the platform is just getting started. But there look to be many possible ways to make money on Clubhouse. Here are some of the suggestions from our entrepreneur guests.

• Professional moderators As Clubhouse grows and so do audiences, professional moderators should be in good demand. Just like the panel moderator at a convention, the ability to set up, market, and moderate a panel of experts to an audience could be an important position.
• Production Creativity Just like a radio show or convention panel, Clubhouse chats can benefit from creative expertise and assistance. Whether it’s audio engineers, producers, sound effects, logo designers, recording for your podcast, or production assistance, there are opportunities that will emerge.

And just like traditional and other social media, there are a number of possible business models that can work on Clubhouse as well. Such as Subscription models, sponsorships, membership fees, coaching, tips, grants, and direct selling when appropriate.

Listen to the full session above!

We welcomed long-time EO member and co-CEO of Herman ProAV, Jeffrey Wolf to the stage to talk about his experiences in exiting enterprise. We got down and dirty, talked through the “learnings” and failures, as well as the successes. 

Below find the highlights of our session with Jeffrey Wolf. You can also listen to the full session above!

This week’s show concentrated on the dos and don’ts for exiting your business with insights from a number of successful entrepreneurs.

For an entrepreneur, exiting your business can be an exciting and potentially nerve-wracking experience. With that in mind, here are some top-level things to consider when embarking on the exiting process.

Experts

Surround yourself with experts in things that are outside your wheelhouse. Hiring a banker, lawyer, or facilitator with a successful track record in concluding company sales should help with a smoother transition for everyone involved. The transaction details of a company sale take a lot of time and attention and that can distract an entrepreneur from the important day-to-day operations of their company. If you are focusing on the sale, you are most likely not focusing on the business and that can derail a sale.

Emotional Impact

There’s also an emotional impact when selling the company that you’ve put your heart and soul into and having outside help from experts that aren’t emotionally involved can keep the sale moving in the right direction. Having outside help to focus on the important details of the deal can potentially ease some of the emotional impacts that an entrepreneur and the company’s employees feel during this period of transition. It’s also helpful to be as honest as legally possible with your employees during this potentially stressful time. You want your employees focused on their jobs and not on what might happen after the sale.

Right Buyer

Moreover, finding the right buyer is also important when selling your company. If your company systems, culture, and employees don’t fit with a potential buyer, this can lead to difficulties when negotiating a sale. If a potential buyer shares your same or similar core values and also shows that they value your employees, this can result in higher value exits.

Relationships

In addition, when another company buys your company, they are also buying your relationship with your partners, customers, suppliers, and employees. So having solid and positive relationships across the board can be key to concluding a sale.