Scared Money Don't Make Money

Jimmy Buffett has a quote I can’t stop thinking about for creators:

If you’re an artist, if you want to have control of your life… then you gotta be a businessman, like it or not.

The creator space has grown over the past few years, and I’ve seen a lot of “if you build it they will come” energy. Sure, being a creator can make your dreams come true — but building a successful creator business is nothing like Field of Dreams.

As the CEO of FIVE, I’m a product guy. I wear the executive title, but I’m in the weeds. My days are spent talking to creators, developers, and industry people about how we can turn FIVE into the go-to community platform for expert creators - the keyword being “expert”

That Jimmy Buffet quote comes up over and over again in these conversations. In fact, it’s simultaneously the most enjoyable & frustrating part of my job:

Some uber-passionate creators — with diehard communities and world-class expertise in their niches — are scared to take money from their audience.

These creators care so much about the community they’ve built that they’re putting up mental blocks around monetization. Sure, monetization is a goal — it allows them to do more of the thing they love — but the act of building an actual offer to give their audience feels back-breaking.

Believe it or not, I have to sell creators on making a living from their business.

Instead, many creators sign on for brand deals and sponsored posts. These are great ways to earn income as a creator, but you might be watering down your influence over time. Your fans will start to wonder if you only exist to promote other companies — and as a creator, your next sponsorship is never guaranteed.

I love that this quote came from Jimmy Buffett because Jimmy is very clearly an artist and a businessman. His 1977 single ‘Margaritaville’ has turned into Margaritaville Holdings, and Forbes has him at a billion-dollar net worth.

I don’t know Jimmy Buffett — but I can bet that his heart isn’t on the business or bank account, but on the experience that his products and services provide.

At FIVE, we want to be the business partner to your Jimmy Buffett empire. You have all of the talent & expertise, and we’re building a platform that allows you to earn an income from creating the experiences and access your community loves.

Let’s get one thing clear: it’s perfectly normal to be a little wary of selling to your audience. We look at this as proof you actually care about your community. If a creator is REALLY into taking money from their audience, they’re probably a bad actor (more on this next week).

We’re finding so many creators who love what they do and who they do it for. It’s so refreshing. In these daily conversations, I’m finding myself selling less and coaching more — reminding creators like you that they’re in the best spot to monetize their audience right now:

• Their passion has bred an authentic, engaged community
• Their community wants to go deeper than their free content
• Their community wants to give them money

That’s what FIVE is — a pathway for your audience to go deeper with you.

We just happen to get you paid alongside this solution.