What do YOU see as the way to get to about $20k a month
Historically, our LCV was based upon a 5-year revenue evaluation of around $740 per customer. With our sales dropping substantially in the last year, and with me moving to a much lower pricing model, I would expect that would drop further. (Note that our historic customer base is, oddly, twice the size of our email list because of having to rebuild the list from scratch.)
I am going to call the LCV5 at a little less than half the current one, or $64 per year. The current subscriber-to-customer ratio is still high – around 40% – but not as high as it once was when it was at almost 70%. (The primary reason it has dropped so far is that I got so busy doing custom software over the last 2 years that I did not build a single new product so the customers had nothing to buy!)
So, the numbers look like this:
• $64 per year, per customer (1 Customer = 1.5 subscribers)
• 5,000 subscribers @ 40% = 2,000 customers
• 2,000 customers @ $64 = $128,000 per year
These numbers are based upon selling just the low-end information products (i.e. at WSO-style pricing, $8-$16). They do not include all the potential spin-off products. The key will be to produce 8 new products per year. In addition, I also have 18 SKUs of 4+ hour seminars in my store that I could use as upsells.
I welcome all comments and opinions.
Next for me will be the first “Push.” A few rules about my Pushes:
1. My work week is Monday through 1/2 Friday.
2. I never schedule any push for Saturday or Sunday. That is time off.
3. This way, if I feel like working on the weekend, it goes towards the Push that is operate for Monday. I have found this to be a huge difference in outlook for me.
4. I always make the first Push of the week lighter, so as to be able to look at Monday and say, “I only have this little bit to do.” Of course, I immediately create a new Push from my spreadsheet.
I break time units into 30-minute segments, although known to me as “Cows.” (I used a cow timer instead of a tomato time. Hence, not Pomodoros.) Most segments are double (i.e. 60 minutes).
A typical push will have somewhere between 7 to 14 pushes. Monday’s are a little lighter and are usually finished by lunchtime. Then the next items are plucked off the calendar to make up the 2nd push of the week. (Pushes are number like 2016-06-4 is the push that starts on Monday.)
BTW, Sean’s recent product… Design Your Personal 1-Year Blueprint… Offered a really great addition to the entire process. He said that we needed to create our goals and them came out looking like “tracks.”
I added a couple more tracks and suddenly they began to look like “departments.” From there I could build a calendar.