October 2021 Profit Report: Increasing our MRR by 77% in Less than 7 Days
Episode 593: Show Notes
We’ve been working on something exciting for a really long time and today’s episode exists to introduce you to our newest offering, which includes taking on clients for our business incubator! Our business was working. We could have successfully continued with our existing plan. Instead, we made an intentional move, looked at what we wanted to do, saw that the mission was the same as when we started, and then asked ourselves how we could achieve even more of that!
If you can focus less on what you want and more on the problem you are actively solving for your audience, the doors will open. Your business should take care of you, NOT drain you! We want you to know that where we are today is the result of having a full staff of people, an audience in the millions, and six whole years of hard work, which is why we are sharing some insight into our hiring process, the art of simmering, our desire to take on clients again, and so much more in our October profit report for 2021! Join us today!
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What it Means to Call Our Business a Company and How it's Shifted Our Perspective
We’ve been calling our business a company for about a year now and it felt like pretending until very recently, when we were able to bring team members on first-hand and we realized we’ll be able to move onto 401k next year! 40% profit in November! It has transitioned from being a business where we brought on some extra support to being a company that you can work for!
While we love and use social media and paid advertising and we definitely utilize them, we are building a business that relies far less on either of those things. We are building a business that could remain stable even WITHOUT either of those things! We would never have been able to scale without the opportunity to onboard staff that we absolutely trust. There was a fair amount of hesitation from both Emylee and Abagail to bring on permanent employees instead of private contractors but, in the end, we have been so lucky to hire staff who are committed to our mission and vision. Our team sat at 29% for the launch that we had, which gives us the runway to hire again; probably sooner than we think!
The Launch that was 4x BIGGER than Anything We'd Ever Done Before
Typically, when businesses share a glimpse into their day-to-day, they don’t share the numbers, but we’re here to give you an honest look into the ins and outs of the highs and lows of businesses. We’re here to help you make informed decisions, grounded in reality, which is why we are happy to share our experience with you. The decisions we’ve made that have paid off the most have been slow, informed, and intentional, and up to two years in the making! There’s an art to simmering, and then taking quick action when things come together.
What looks like quick action on the outside is often a long time coming. Our COGS are only 23% and our ads are only 19%, so things are definitely stacked in a unique way for us. Our biggest launch ever has been successful because we used the right people as sounding boards, and waited to bloom. It looked fast, but that’s because we waited for the longest time, and then hired five employees!
Our Desire to Work with Clients Again and What that Looks like for Service Providers
We have officially launched a new product, which we are calling a service because we are taking on clients! That’s a pretty big change. Just like you, we love to get paid to do what we love. Having goals outside of ourselves that literally empower and support other people is the best part of the phase we are growing into now. We’re here to help you build a business that works for you, to help you meet your goals. We want you to have the option to do the simplest thing, and we can show you what that looks like.
If we could gift all business owners with anything, it would be the confidence to know that you can do it! Having that reassurance gave us the freedom to have fun and find lightness leading up to our launch. That’s what we want for you too. Our goal is to give you the opportunity to grow, and that’s why we’ve called it The Incubator!
Quote This
I think it’s the art of marinading internally with a really close group of people that you trust, and then blooming on the outside.
Highlights
What it Means to Call Our Business a Company and How it's Shifted Our Perspective. [0:03:19]
The Launch that was 4x BIGGER than Anything We'd Ever Done Before. [0:10:25]
Our Desire to Work with Clients Again and What that Looks like for Service Providers. [0:20:04]
ON TODAY’S SHOW
Abagail & Emylee
The Strategy Hour Podcast
We help overwhelmed and creative entrepreneurs break down their Oprah-sized dreams to create a functioning command center to tame the chaos of their business. Basically, we think you’re totally bomb diggity, we’re about to uplevel the shiz out of your business.
KEY TOPICS
Business planning, Staff, Hiring, Incubator, Growth, Ads
