APRIL 5, 2022

Welcome to The Tilt, a twice-weekly newsletter for content entrepreneurs.

In this issue:

Full Tilt: Get Hold of Your Personal Finances
Content Entrepreneur: One Million in One Year
CEX: Creator Economy Expo is in less than a month, register today!

full tilt

4 Personal Finance Questions Every Content Entrepreneur Should Ask Now

Many creators can earn a full-time income as they pursue an entrepreneurial journey. But if you don’t have a handle on your personal finances, you’ll not only stress about how to grow your audience but how you’ll pay the utility bill. And that won’t be good for you or your content business.

Emily Boothroyd, a wealth manager and partner at Merit Financial Advisors, offers four questions every creator should answer to keep their personal finance house in order.

1. Did you save and pay self-employment taxes? In a traditional full-time job, employers pay their share (6.2%) of your Social Security and Medicare taxes and withhold your share (6.2%) from your paycheck. A self-employed person must pay both the employer and employee shares. And you still need to pay your income tax.

Caveat: Every quarter, you must pay estimated taxes because there is no employer withholding and paying it for you. If you don’t, you could face a big tax bill and a penalty payment every April.

2. Are you ready for an emergency? So many roadblocks can keep you from earning money – from medical emergencies to an updated social media algorithm. The rule of thumb is to have six months’ worth of personal expenses saved and available to be withdrawn quickly.

“It doesn’t have to be six months of you going out to eat, getting your nails done, and all the extracurriculars you do,” Emily says. “What are your baseline, nondiscretionary expenses?” Emily says. “Use that as a basis for that emergency fund.”

3. Do you have high-interest debt? Emily isn’t talking mortgages or student debts. High-interest debt typically is accrued through credit cards. “That needs to go away,” she says.

To get rid of it, use your income, and if that’s not enough, cut expenses.

4. Is your budget sparking joy? It’s easy to get caught up in today’s busy world, sliding your credit card or using Apple Wallet to almost buy things unconsciously. Document and categorize your expenses. If you’re not spending within your means, make cuts. If you are, look to see if what you’re buying reflects your financial goals. Adjust accordingly.

– Sarah Lindenfeld Hall

To get more help, calculators, and tips, read all of Emily’s personal finance advice.

content entrepreneur spotlight

https://www.thetilt.com/content-entrepreneur/the-professional-hobo

Entrepreneur: Kar Brulhart

Biz: Kar Brulhart

Tilt: Growing brands on Instagram

Primary Channel: Instagram (48.1K followers)

Other Channel: Website

Rev Streams: Partnerships, online courses, digital downloads, coaching, speaking

Our Favorite Actionable Advice:

Learn and get paid first: Kar used the knowledge she gained in traditional full-time jobs to quickly build and grow her Instagram business.
Sell multiple things: In 2022, Kar expects to earn seven figures from her multiple revenue streams.
Don’t fly by the seat of your pants: Develop a business plan or at least a content calendar with ideas.

– Sarah Lindenfeld Hall

Read all about Kar Brulhart and her Instagram content business.

Know a content creator who’s going full tilt? DM us.

quick talk

Caught on … Twitter

“Friendly reminder: You are allowed to take a break.” – Creator Wizard

things to know

Money

Not worth it: A new study from North Carolina State University found 30% of Facebook’s inferred interests are inaccurate or irrelevant. That could have a big effect on Facebook ad spends. (Social Media Today)
Tilt Take: Always check the ongoing activity generated from your ads. If you’re not seeing the results you expect, consider why not (and if Facebook can deliver the audience you want.)
Crowdsource projects: Koji’s Link-In-Bio platform now has an app – Fund My Project – that creators can use on their bio page. (Koji)
Tilt Take: Crowdsourcing is different than asking for tips. You need a well-formulated content project for them to support, not a general content business idea.

Audiences

IreneDAO intel: Irene Zhao’s Instagram followers went from a few hundred to nearly a half-million after the release of IreneDAO – the proof-of-concept for her and Ben Tang’s Web3 startup So-Col (Social Collectables) to empower content creators and fan communities. (The Block)
Tilt Take: It’s an indicator of how the power of a collective community can mean big things for the founding creator as an individual, too.
Podcast plateau: The number of Americans who listen to a podcast every month dropped for the first time in nine years. But don’t look down now. Today’s listener levels are still up from the last pre-pandemic year. (I Hear Things)
Tilt Take: Any hiccup or spike shouldn’t be met with doom or euphoria. It’s what happens in the long term that matters.

Tech and Tools

B2B creations: LinkedIn is going bigger for creators. It’s adding new analytics to track individual post and account-level performance. Newsletter creators on the platform can now highlight their writing directly on their profiles. (Engadget; h/t tl;drMarketing)
Tilt Take: LinkedIn is a burgeoning platform for B2B creators. Just remember not to dive in without an off-platform plan, too.
Turn on: Continuing in LinkedIn tricks, its head of creator economy told Drum’s Digital Transformation Festival that users turning on the creator mode signals their interest in the platform and reshapes how content is shown on their profiles. (The Drum;h/t Overdrive Interactive)
Tilt Take: Creators who target B2B professionals should turn on the mode even if they simply want to repurpose their content from other platforms. It’s a good marketing tool.

And Finally

No doomsday: Break the habit of doomscrolling on social media. Recognizing that you’re doing it is the first step. Then have an option to feed why you’re doing it. Think support of a friend or a four-legged companion, or take a mental health break. (Wired)
Tilt Take: Being on social media often is a requirement of your content business. That doesn’t mean you have to grin and bear it. Be deliberate about how you’ll handle the stress.
Influencers turned creators: Blue Wire’s podcast network has grown from 5M downloads in 2019 to 60M in 2021. How? They tap influencers to host podcasts and acquire creator-led shows. (tubefilter)
Tilt Take: The podcast network recognizes the huge value in cross-promotion. How can your content business cross-promote to grow?

the business of content

You – The Content Entrepreneur (Content Inc.)
Tech Companies as Media Companies Becoming Old Hat (This Old Marketing)
10 Tips for Creating a Well-Rounded SEO Strategy (Small Business Trends)
5 Ways To Start Building a Network as a Startup Owner (Startup.info)
4 Pieces of Advice for Entrepreneurs Going Into Business With Friends (Forbes)

the tilt team

Your team for this issue: Joe Pulizzi, Ann Gynn, Laura Kozak, Marc Maxhimer, and Dave Anthony, with an assist from Angelina Kaminski, Sarah Lindenfeld Hall, and Don Borger.

Dollar Decisions – April 5, 2022