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
The post A Preview of The Automatic Customer with John Warrillow appeared first on The Entrepreneurs Library.
]]>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.
The post A Preview of The Automatic Customer with John Warrillow appeared first on The Entrepreneurs Library.
]]>A summary of things you should know about Vibrational Money Immersion according to Ray Higdon: Introduction In this episode Ray Higdon takes a deep dive into his book, Vibrational MoneyRead More
The post A Preview of Vibrational Money Immersion with Ray Higdon appeared first on The Entrepreneurs Library.
]]>In this episode Ray Higdon takes a deep dive into his book, Vibrational Money Immersion, where shares a network marketing guide to better help you make a living from home.
In his book Higdon provides a roadmap filled with practical advice, assignments, and principles that are designed to show you how to become the best network marketer in the field of multi-level marketing. The goal of this book is the help you train your brain to craft your own success, master the art of networking, enhance your sales skills, and overcome multiple obstacles that get in the way.
This book is perfect for entrepreneurs who want to be able to work from home and are interested in multi-level marketing, but want a better understanding of the principles.
Some of the different things about my book are that I am not speaking from theory. I’m speaking exactly how I went from dead broke personal foreclosure to earning over a million dollars, becoming the number one income earner, and having over 85% of an entire network marketing company in my team.
Originally this was a weekly audio course with seventeen chapters. My suggestion would be to go through the book once quickly and then look back to see which one of the chapters jumped out at you and go back through those particular chapters in more detail.
Stop looking at what you think you know and look at your results. I don’t know how many times I’ve heard someone tell me, oh I’ve heard that before, but they are dead broke. If you do not have the results in your life that you wish you had then this book can help you understand why you are where you are at and how to get to that next level.
This book is all about mindset. It’s based on the original book of Think and Grow Rich but added with original stories on exactly how and why you have the type of results in your life that you do. So if you’ve been wondering why you’ve been working really, really hard but don’t have a whole lot of results to show for it, this book reveals that. This book will tell you exactly, in so many different scenarios, how your thinking is dictating your results.
I dive deep and talk about my divorce, my child abuse as a kid. I talk about how I got into foreclosure and what exactly got me there but also what exactly got me out of it. And so this is a guide to improving your mindset. Yes, it’s targeted for network marketers but I’ve had people in real estate, insurance, and car sales, go through it and tell me that it really helped them out because mindset is the major factor in anything you do.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 06:11
“The ability to say woe is me shows the abundance of inactivity.” – Ray Higdon
I was in corporate America and I didn’t feel like I was living my highest and best purpose and also spending more time with picture of my kids than the real thing. I would go to work when they were asleep and come home to them already in bed and that just wasn’t the life that I wanted to work toward. And so I went out on my own and started a real estate business that didn’t work out and in 2009 I found myself dead broke. It was then when I reinvented myself and have since built a multimillion a year coaching and training business. I also have a very successful blog and social media presence and because of all this my lifestyle is a lot different.
A lot of entrepreneurs attribute some of their successes from the content that’s contained within Think and Grow Rich. What I did was I took the public domain version of Think and Grow Rich and I kind of translated it not just to today’s world but also for the actual network marketer. I’ve been in network marketing for over five years and there are a lot of people that appreciate that translation of how this actually and directly applies to their profession.
The War of Art by Steven Pressfield and Shawn Coyne
Buy Vibrational Money Immersion by Ray Higdon on Amazon today
Visit RayHigdon.com to learn more about Ray, his books, blog, and products
Follow Ray Higdon on Facebook and Twitter
Download the full transcript here (coming soon)
Listen on iTunes, Stitcher , and SoundCloud
Related books:
Think and Grow Rich by Napoleon Hill
The Millionaire Fastlane by MJ DeMarco
6 Months to 6 Figures by Peter Voogd
What did you like and not like about this episode? Fill out this one minute survey here.
The post A Preview of Vibrational Money Immersion with Ray Higdon appeared first on The Entrepreneurs Library.
]]>