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    This is why Subscription Business are SO DIFFICULT to grow!

    enSeptember 23, 2024
    1
    What was the main topic of the podcast episode?
    Summarise the key points discussed in the episode?
    Were there any notable quotes or insights from the speakers?
    Which popular books were mentioned in this episode?
    Were there any points particularly controversial or thought-provoking discussed in the episode?
    Were any current events or trending topics addressed in the episode?

    • Subscription ChallengesBuilding successful subscription businesses is challenging; they require creating habits and providing long-term value to retain customers. Understanding customer loyalty and adjusting strategies accordingly is crucial for sustainable growth.

      Growing a subscription-based business can seem appealing, but it's much harder than it looks. Businesses like day nurseries, Netflix, and gyms succeed because they create habits. Entrepreneurs must focus on providing excellent value and think long-term. Many businesses struggle with customer retention, making it vital to understand what keeps people subscribed. Therefore, entrepreneurs should study successful models closely and adjust their strategies accordingly, as the common narrative often highlights only the successes, overshadowing the challenges faced by most. Building a strong relationship with customers requires innovative engagement and a commitment to quality, ultimately leading to a sustainable subscription business.

    • Action vs. ExcusesSuccess is about choosing action over excuses. Prioritizing personal growth empowers you in all areas of life, leading to opportunities and rewards, especially as competition increases.

      Finding success in your personal and professional life often hinges on your willingness to take action rather than make excuses. When challenges arise, it's important to either seek a solution or acknowledge that your inaction is a choice. This mindset of accountability cultivates personal growth, as it encourages individuals to prioritize self-improvement over business tasks. Engaging in activities such as reading, exercising, and connecting with others can significantly enhance your capabilities. By investing in yourself, you empower not only your career but also your overall quality of life. As competition increases, those who choose effort over convenience stand to gain the most. Embracing this perspective fosters an environment where taking calculated risks and hard work leads to tangible rewards, ultimately setting you apart as an entrepreneur. This journey of continuous self-development is crucial in navigating both opportunities and obstacles effectively.

    • Healing Through CommunityA cancer diagnosis led to discovering breathwork and meditation, resulting in a community program that promotes wellness through connection and support. His journey highlights the power of mindset in overcoming challenges.

      A cancer diagnosis propelled a former site engineer to explore breathwork and meditation as tools for healing. By developing a community through his program, he offers live sessions, merging breathwork with gratitude journaling to help others create positive habits. His journey emphasizes the importance of mindset and community support in personal growth and health. Through the platform School, he connects with members, enhancing their wellness journeys while benefiting from a structured community-building process. This journey shows how challenges can lead to valuable life changes, creating new opportunities for oneself and others.

    • Building EngagementUsing platforms like 'school' can enhance community engagement. Focus on content creation to build trust and showcase expertise, especially when appealing to businesses by highlighting productivity benefits.

      For anyone building a business or community, leveraging proven platforms like 'school' can be transformative. It's essential to follow established methodologies closely to understand and optimize results. Content creation is also crucial, helping to build a loyal audience that values your expertise. Businesses ultimately want staff to be efficient and profitable, so framing wellness services in terms of productivity can attract corporate clients. It's about balancing offering what people want with giving them what they need. Building that trust through consistent content and strong community engagement can lead to significant growth and opportunities.

    • Marketing EssentialsUnderstanding psychology is key in marketing. Positioning products as essentials inspires consumer urgency and drives sales. Using strong narratives and relatable content will attract audiences and heighten perceived value.

      Effective marketing requires a deep understanding of human psychology. When faced with challenges, like unavailability of necessary medication, people will often take desperate measures, indicating that marketers need to position their offerings as essentials rather than luxuries. This can be achieved through strategic communication, crafting engaging headlines, and creating relatable content. Utilizing frameworks like the 'seven layers of why' helps to uncover the motivations that drive consumer behavior and emphasizes the importance of making a product seem indispensable. Ultimately, having a compelling narrative and a strong online presence allows businesses to connect with audiences effectively, fostering a sense of necessity around their offerings.

    • Sales StrategyTo boost corporate sales, focus on offering trial services that show value, improve outreach strategies, and refine messaging to clearly communicate the benefits of your service to potential clients.

      To succeed in selling to corporate clients, understanding their needs and presenting irresistible offers is crucial. One effective approach includes demonstrating how your services can enhance team productivity and profitability. Offering a trial period can reduce their risk and encourage engagement. Focusing on communicating the right message and refining outreach strategies, like improving LinkedIn presence and creating valuable content, will attract attention. Successful sales come from connecting with decision-makers in a way that addresses their specific challenges, showing them tangible benefits, and building relationships that can lead to increased business opportunities.

    • Engaging MarketingMarketing thrives on building relationships rather than pushing sales. Engaging content, storytelling, and understanding customer psychology are vital for attracting interest and promoting genuine buying behavior.

      People have a natural dislike for overt selling, but they enjoy the process of buying, particularly when they feel informed and engaged. Genuinely addressing their interests and offering valuable insights can spark desire, leading them to want to invest in products or services. Instead of pushing sales, marketers should focus on building relationships and credibility. Long-form content, storytelling, and sharing personal experiences are effective strategies to connect with potential customers, as they foster trust and interest. It is essential to balance marketing efforts with building a strong brand and utilizing various platforms to communicate effectively. Ultimately, successful marketing involves understanding human psychology, creating engaging content, and nurturing genuine connections with an audience.

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