A summary of things you should know about The Automatic Customer according to John Warrillow: Introduction In this episode John Warrillow takes a deep dive into his book, The AutomaticRead More
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]]>In this episode John Warrillow takes a deep dive into his book, The Automatic Customer, where he discusses how to create a subscription business in any industry.
In his book Warrillow provides 9 unique business models based on a simple step-by-step guide for building an online subscription based business that are designed to fit nearly any kind of industry. The goal of the book is to teach you the fundamentals of recurring revenue, how to attract automatic customers, ways to market subscription products, and the statistics you need to measure results.
This books is perfect for entrepreneurs who are technology savvy and want to own a business that allows them to work from home while building a large, sustainable income.
I think the nine subscription models are really easy for businesses to comprehend and apply to their business. We try to explain that no matter what business or industry you’re in you can apply one of these nine models to create some form of recurring revenue.
This book has three major sections. The first section is dedicated to really making the case as to why you want recurring revenue. So if you already know that you absolutely want recurring revenue than you can skip section one and go straight to section two which is the nine subscription models.
What these nine subscription models are going to do is help you think through all the different forms of recurring revenue that you might use in your business. And you can cherry-pick through those as you see one that is more relevant and less relevant. The final section is scaling up your subscription business which is all about the metrics you want.
The LTV (Lifetime Value) to CAC (Customer Acquisition Cost) ratio is the most important metric any subscription company operator focuses on and we give you a formula on how to calculate it.
The key is to find some way to create some form of recurring revenue because that is going to both improve the value of your company as well as make your business a whole lot easier and more enjoyable to run. I believe that the essence of what we are trying to do can be encapsulated in a story I tell in the book. This story is about a guy named Sonu Panda who took a different approach to selling flowers. If you think about it a flower shop doesn’t have much hope unless it’s Mother’s Day or Valentine’s Day. In this business you constantly have to throw out rotten un-bought inventory because it simply wasn’t purchased which is a big waste of profit. Sonu Panda is trying to get you to think differently about what business you are in, even the low-tech business of selling flowers. So he tried to figure out who out there buys flowers on a recurring basis and realized that spas, restaurants, and hotels actually buy flowers relatively frequently. And so Sonu went to the individual establishments and negotiated with them on scheduling a time to bring fresh flowers every two weeks so that they could get back to the business or spa treatment etc. and not have to worry about whether their flowers are fresh. With that value proposition he started H. Bloom and today there are thousands and thousands of H. Bloom customers and subscribers around the world. So really the book is trying to convey that no matter what you do and no matter what business you are in you can rethink your business to create recurring revenue.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 07:04
“Happiness bombs.” – Bark Box
I am the founder of something called The Value Builder System where we help business owners improve the value of their company. I found that business after I wrote the book Built To Sell a couple years ago.
Most of the inspiration came from me screwing up writing Built To Sell. In Built to Sell I talked about the importance of making the business thrive without you personally doing all the work. The one thing that I didn’t spend enough time on was recurring revenue and it turns out that recurring revenue has the biggest impact on whether or not someone wants to buy your business. With The Automatic Customer I wanted to kind of write that wrong and really dedicate an entire book to how a business creates passive income and recurring revenue streams that are not necessarily reliant on the owner themselves.
Small Giants by Bo Burlingham
Buy The Automatic Customer by John Warrillow on Amazon today
Visit AutomaticCustomer.com to learn more about the book and get your free e-book
Visit ValueBuilderSystem.com to learn more about John’s company and services
Follow John Warrillow on Facebook and Twitter
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
The Membership Economy by Robbie Kellman Baxter
High Paying Clients by Trevor Crane
Unselling by Scott Stratten
Relevant advice and tips:
7 Recommended Books on Starting An Online Business
What did you like and not like about this episode? Fill out this one minute survey here.
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]]>A summary of things you should know about The 15 Success Traits of Pro Bloggers according to Jonathan Milligan: Introduction In this episode Jonathan Milligan takes a deep dive intoRead More
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]]>In this episode Jonathan Milligan takes a deep dive into his book, The 15 Success Traits of Pro Bloggers, where he shares a roadmap to becoming a full-time blogger.
In his book Milligan provides a simple blueprint with actionable summaries of the 4 significant habits that aspiring bloggers should add to their daily routine if they want to become online professionals. The goal of the book is to teach you what it takes to achieve maximum results with your blog, how to get your blog noticed by more people, and what types of content generate the most traffic.
This book is perfect for entrepreneurs that own or plan on owing an online based business and what to know the ins and outs of establishing a popular yet profitable blog.
I was very specific in the beginning and I did not want to write another book about how to write a blog. My book is a business book first, it’s something someone can take and use as a self-development plan that you can fall into over the next couple of years.
I would say that if you are just starting out as a blogger you should read it straight through. If you’ve been blogging for a while you might be interested to jump further to the actual processes.
I would hope that the reader would walk away with the heart of the book. The heart of the book is that the best way to grow a business is teaching and serving an audience well.
At the very beginning of the book I share with you a way that you can get access to a one page colored PDF that I had designed that explains the essence of the whole book. This one page infographic is what I call The Blogger Success Pyramid. It’s got the 15 traits in a pyramid format and both my students and I use to help form and build our businesses. And so the chapters are divided into each of those traits.
The very bottom of the pyramid is what I call Tier One and it’s the mindset. The mindset is so important for us to be able to grasp the things that we need to get ahold of in order to achieve success. For many of us, we are going to act out of our thoughts. And so if our thoughts are defeating we are not going to take action. The five mindsets that I share are passion, resilience, confidence, consistency, and patience. You have got to have these five mindsets because without them you will not be able to stay with it over the long haul to achieve success.
In Tier Two we jump into what I think many people get hung up on, the habits. There are so many things to do that you don’t know where to focus your time and so I boil it down in the book to four simple keystone habits. The first habit is the create habit; this habit is to use text, audio and video to get your message out to the masses. The second habit is the capture habit which is the art form exchange of value for e-mail addresses. Building that e-mail list is so critical and so important. From there you have the compile habit and that is where you package your knowledge and perspective into products and services. And then you move into the connect habit which is your ability to connect with other people and build community with other passionate influencers.
In Tier Three we go over systems and there are three traits in this tier which are people, processes, and plans. When you get the right people, you create the right processes that you can outsource, and you put the right plans in place, you can begin to scale your business way beyond yourself.
And finally, the top tier is the Leverage Tier and that’s how you stay on top. There are two essential traits to staying on top and those two traits are learning and listening. Learning is the ability to unlearn and sit at the feet of your peers. The second leverage point is listening and that is the constant awareness of the goals, passions, and struggles of your audience.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 05:57
“What’s the ultimate result we want from all of this hard work? For me it’s not money, although I need money to live and reach my goals, it’s not fame or popularity, I find more fulfillment in stewarding the gifts Gods given me even if popularity never comes my way. The final success trait cannot be achieved as a goal; instead it’s a result of doing everything else well. It’s the ultimate gift from a lifetime of serving others, trust and authority. You are rich when you’ve earned trust and authority with your audience.” – Jonathan Milligan
I started my career as a high school teacher and both of my parents were educators and so I thought that might be where I was going to land. After about three years of coaching and teaching, I loved the kids but I found that it wasn’t the right environment for me. I had a real entrepreneurial side to me and so I joined up with a startup company that was an executive search firm. I did that for about eight years and from there I got into blogging. Over the course of a couple years I ended up getting to a place where it could replace my job and now today it’s what I do. I am a fulltime blogger and I have two blogs that I manage.
I always had multiple e-mails asking questions of how I became a fulltime blogger and so I began thinking through how exactly I could teach this to others. After running it by friends and family I boiled it down to what I considered 15 success traits.
Work Simply by Carson Tate
Buy The 15 Success Traits of Pro Bloggers by Jonathan Milligan on Amazon today
Visit BloggingYourPassion.com to learn more Jonathan’s book and online courses
Follow Jonathan Milligan on Facebook and Twitter
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
Real Moms Making Real Money Blogging by Stephanie O’Dea
The Art of Social Media by Guy Kawasaki and Peg Fitzpatrick
The Website Investor by Jeffrey Hunt
Relevant advice and tips:
7 Recommended Books for Starting an Online Business
What did you like and not like about this episode? Fill out this one minute survey here.
The post A Preview of The 15 Success Traits of Pro Bloggers with Jonathan Milligan appeared first on The Entrepreneurs Library.
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