How I Built My 2nd Business From Scratch to Over $100K MRR in One Year | EP 112Mar 08, 2023
Are you struggling to build your audience or find the right people for your offer? Do you have a plan in place to get some traction and start making progress toward starting and growing a successful, sustainable subscription box business?
Inside Launch Your Box, I work with thousands of subscription box owners. Many of them are starting their businesses from scratch. And so many of them come to me not knowing where or how to start.
I know exactly how they feel. When I started my second business - Launch Your Box - I was starting from scratch. Sure, I had a successful product-based business, but this was a brand-new offer to a brand-new audience in a totally different industry.
In the fall of 2019, I had a plan. I knew what the offer looked like, what I would deliver, what I would charge, all the things. What I didn’t have was customers or a following. I was starting from scratch.
So I got to work.
- I DM-ed people who had reached out to me to ask questions about my subscription box business. 19 of those people became my beta group.
- I worked with my beta members for 2 months, seeing what worked and what could be improved to meet their needs better.
- I started my social media accounts and consistently produced content that created value. And yes, it grew very slowly.
- I created an eBook as my first lead magnet which became my first self-liquidating offer (SLO). Sales from that eBook funded paid ads designed to attract my ideal person.
- I sold 1200 eBooks in 45 days, generating $12,000 that I put right back into my ads budget to fund ads for my upcoming launch of Launch Your Box.
- I added more people to my email list than I had followers on social media.
- I added a freebie lead magnet.
- I generated thousands of leads during the 45 days leading up to my launch which converted into 400 new monthly members.
- 3-months later I opened cart again and tried out another paid lead magnet - Subscription Box Coaching Week.
- It was a HUGE success. I converted 43% of the 3000 attendees into my monthly paid membership.
- Those 1400 new members brought my total membership to over 1900 paid monthly members at more than $100,000 in revenue a MONTH. Life-changing.
I had 1900 members when I didn’t even have 1900 followers on social media. What I did have was almost 15,000 people on my email list - and they’d gotten there because of 3 lead magnet funnels I created in the first year.
How did I go from zero followers to 1900 members so quickly?
- I leveraged social media to build my email list to then build my monthly recurring revenue.
- That email list was WAY more powerful than anything I could do on social media.
- I created lead magnets and offers that were niched down to attract exactly the right person for my offer.
- I knew it took money to make money and invested in paid ads.
- I placed the offer in front of my audience 30-45 days before my launch to keep it fresh in their minds.
- I nurtured my leads with content that served.
- Lives, tutorials, how-tos, action-based content.
- I focused on what was working and went all in.
What have you done to build your list before you launch?
- Are you relying on social media to convert followers to subscribers?
- Are you growing your email list year-round?
- Are you tracking how many leads you get each month? Keep your eye on that number - if it grows, you grow. If it stops growing, you stop growing.
- How are you getting in front of new people?
- Organic traffic from SEO, blogs, Pinterest, social media
- Paid traffic from ads
What lead magnets do you have in your business?
- Are they the right lead magnets?
- Are they attracting the right people?
- What would make someone give you their email? What would help them?
It’s time to stop waiting for people to find YOU. Go out and find them!
Join me for this episode as I share exactly how I started my second business from scratch and how you can put the lessons I learned to work for you as you start your subscription box business.
Learn from me:
- Subscription Box Blueprint eBook: This $10 ebook covers logistics from product selection to packaging to shipping. Plus a 90-day launch plan and bonus ‘Instant Scripts’ for your social media.
- Launch Your Box: My complete training program that walks you step by step through how to start, launch, and grow your subscription box business.
- Launch Your Box Podcast: I share tons of practical tips and strategies to help you start, launch, and grow your subscription box business. You’ll also hear from industry experts and current Launch Your Box members who are crushing it - get ready to get inspired!
- One Box at a Time: Inside my book One Box at a Time, I show you the steps you need to follow to start and launch your subscription box. To turn your dream into reality. This book is filled with proven teachings, valuable resources, best practices, and action steps for you to take.
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