106: The Myspace Problem

Do you remember MySpace? It was all the rage years ago.
I remember looking at bands and being blown away at how many followers certain bands had.

These bands had invested huge amounts into MySpace and built a massive following.
But then something happened.

MySpace died. It fizzled out with the rise of Facebook. 

While some bands may have crossed that chasm and maintained their following, I can promise you that hundreds of thousands of bands died along with MySpace. 

They died because they had a false illusion that they "owned" their MySpace page.

Your social media channels are an asset. 
Think of them more like renting a nice retail space in a shopping mall. 

You can use them to produce great outcomes in your life. 
But at the end of the day, someone else owns the building, and they can change the rules.

They can jack up the rent by 500% (aka Facebook forcing you to pump ad money to promote posts).
They can change up their algorithm (aka Instagram moving to an algorithm instead of seeing every post).
Or they can go out of business and demolish the whole building (MySpace).

I specialize in Linkedin, and I'm very conscious of these risks. 
You should be too.

Your social media isn't an asset.
It's rented retail space, and you don't make the rules.

Use it to start relationships. 
And then move those relationships to direct connection so that social media no longer matters.
In short, capture their email. That is a channel you actually own.