Building a Personal Monopoly in the You-Economy

The internet is a noisy place.

Everywhere you turn, there's a sea of voices, each one trying to be louder than the next.

The only way to stand out & get noticed is to build a personal brand. But let's be honest: building a personal brand isn't is no longer enough. Today, everyone—yes, everyone—seems to have a personal brand. We’re all podcasting, blogging, vlogging, and posting. It feels like the Internet is too saturated. Too crowded. Feels like everyone’s in competition. And lately, this has bothered me. A lot!

The question now is, how does one break through all that noise? I believe I’ve found a solution. Hear me out.

After reading "Zero to One," I was hooked on an idea from Peter Thiel. He said, "Competition is for losers." Instead, he believes businesses should aim to be the only player in their field, kind of like a monopoly. I actually agree with him, and I think we can borrow Thiel’s business philosophy. Even though it was targeted at startup entrepreneurs, I think we can borrow it here. Thiel argues that the only way to win is to be first or the only one. He says that the aim of every startup should be to become a monopoly by solving a unique problem. It makes so much sense!

In the sea of carbon-copy personas, echoing the same sentiments with little to no originality, the internet had started to wear me out. However, David Perell's concept of a 'Personal Monopoly' was a game-changer. It sparked a realization within me: why aim to become another option when you can be the ONLY option? That’s what it means to build a Personal Monopoly.

What is a Personal Monopoly?

A Personal Monopoly is when you become the go-to person in a specific niche, offering something that no one else can. It's not about competing; it's about creating a space where you are the sole provider of a particular value.

Framework for Building Your Personal Monopoly

To build a successful Personal Monopoly, you'll need a plan. Here's a framework that you can follow:

1. Invest in Yourself

Knowledge Accumulation: The first step in creating a Personal Monopoly is investing in your skillset. What makes you different also makes you valuable. Learn continuously and apply that knowledge.

Skill Stacking: Don't just be good at one thing; be good at multiple skills that complement each other. For instance, if you're an excellent writer, learn about SEO and digital marketing to enhance your reach.

2. Become Self Aware

SWOT Analysis: Knowing your strengths, weaknesses, opportunities, and threats can give you a better understanding of where you fit in the market.

Personal Inventory: Make a list of what you're good at, what you're passionate about, and what the world needs. The intersection of these will be your unique value proposition.

3. Identify Your Niche

Market Research: Understanding the needs of the market can help you tailor your skills and knowledge to meet specific demands.

Audience Persona: Create a persona of your ideal audience. Know their pain points, needs, and how your Personal Monopoly can solve their problems.

4. Consistent Branding and Messaging

Unified Image: Whether it's on your website, social media, or any other platform, ensure that your branding and messaging are consistent. This creates a memorable and trustworthy image in the minds of your audience.

Storytelling: Your unique experiences and journey make you who you are. Share your story. Relate to your audience on a personal level, and make them part of your narrative.

Again, the point is, “Why become another option when you can be the ONLY option?” it's not about being the loudest in the room; it's about being the most distinct. It's about being YOU, and nobody does you better than, well, you.

Final Thoughts

Think of the next 100 days as a blank canvas, and you hold the brush. Make each stroke count. Let's enter 2024 with momentum, clarity, and a sense of accomplishment.

When you're ready, here's how I can help you:

1. Buy my book - FIRED-UP: Launch Yourself Online, Make A Living Doing What You Love

2. Work with me 1:1 – book a coaching or strategy session.

3. Join The Lab – I’m launching a course to help you gain clarity to build, develop and launch a strong personal brand with your tribe and products that help you make a living doing what you love. LAUNCHING November 6TH, 2023. Enrol now!