« Side Hustle School

#1674 - Think Inside the Subscription Box

2021-08-01

Looking for more community, a North Carolina web agency owner starts a subscription box for female entrepreneurs. It’s supposed to be a referral tool for her agency, but it ends up becoming a full-time business of its own.

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
I'm a believer in questioning everything. For example, why does quicksand works so slowly also poison expires? Is it more poisonous or is it no longer poisonous questioning? Everything is what honey did when they made the new to sign with available innovations like digital key technology, allowing you to use your smartphone as a spare keep. Of course you always get hung days, complimentary, maintenance for three years or thirty. Six thousand miles. test, drive a twenty twenty two Hyundai Tucson at your nearest Hyundai dealer, or learn more at Hyundai, USA, dot com call, five hundred and sixty two three hundred and fourteen four thousand six hundred and three for complete details in today's story is supposed to be a referral to all her web agency. Burdens are becoming a pole. I'm business of its own
One of the many reasons why I encourage you to experiment with different projects and try new things and don't be afraid to take risks is because sometimes it really pays off They also here in the story about why you might want to think inside the box, but let's because we're talking about subscription boxes. So it's not that complicated, but I'll tell you the details. I also want to say congratulations to my friends: Joshua fields. Nobody, and Brian nicotine us also known as the minimalist you might have heard of them a kind of a big deal there on Netflix and lots of other places, but I knew them long ago. I think pre minimalist. Actually they have a new book out now called love. People use things because the opposite never works, which is sure if you think about it, right, love people use things, the opposite, never works check it out. Wherever you get your books and of course there is, an audio version is well today, story. Think inside the subscription box is coming up. In just thirty seconds stated, Edmunds has been taken.
Stress out of the entire car shopping process for over fifty years, and if you are in the market to buy a car, you know somebody who's in the market to buy a car right now. You know that there is a lot of stress involved. There always has been, but in particular right now with this crazy, while demand for both new and use vehicles, prices are off the charts, it's hard to find inventory and that's where Edmunds can help. They got all kinds of ratings reviews: lots of detailed information on their website. I've taken a look at it myself than to this website. I encourage you to do the same. Shopping for a car can be overwhelming, but Edmunds is here to guide you to your perfect vehicle visit, Edmunds, dot com to see their best car rankings in search for vehicles near you That's easy: you Endy ass dot com for cars, there's Edmunds! and twenty. Sixteen Julie Ball was running a web agency censured
work from anywhere she and her husband decided to move to Ashcombe North Carolina right before their daughters started tenor. She loved their new home. I found herself spinning lots of time behind a screen and missing personal interaction on a whim. She decided to create sparkle, hustle grow a subscription box. They would serve the same audience. She serve with her agency female entrepreneurs. She enjoyed getting subscription boxes herself, so she thought if she created one that had business tools and training that could help customers thrive. It might be a good Lee generation tool for her agency But why would she put in the box? Well Julie, looked back at our own expense receipts to see where she was spending money. She read a lot of books, usually in the self help and personal development categories she also bought. A lot of office applies in fact, she's a self describe office supplies junkie, buying items that bring joy rather than basic, blue or black pins. The contents of the boxes changes.
Got feedback, but that was your initial vision. Since Julie didn't have funding to launch the box, she got creative. She used a pre sail to fund her first months box before she started buying items to put in it. It also picked out a domain name for fifteen dollars and spent about two hundred dollars forming and Elsie. the relaunch face. She made a landing page to collect email addresses in exchange for a chance to win an annual subscription, since she didn't have a box design or even the products chosen for the first box. She mocked at the page with potential products to give buyers a feel for what might be included. Then Julie simply shared it with once you know she posted in Facebook groups that are relevant to the audience and ask others to share she's, not emails. Each week to that list, she'd been nurturing showing off her progress and asking them questions this way. She'd have buyers when she actually watched
play. She hoped she promised an exclusive item for founding members and created a sense of urgency with a deadline and a limited supply of one hundred boxes when she finally open the cart and got her for sale in application, Julie jumped up and did a little dance has more sales came in she colored in each state where her customers were from on a big poster board print of the United States. She didn't hit her God, one hundred but made forty two sales and ended up shipping. Fifty six boxes that first month from their she kept growing a lot in the space of two years. Sparkle hustle grow, went from a dream.
A much bigger business, annual revenue of seven hundred and fifty thousand dollars and a small team of contractors. How did it grow from fifty six boxes to more than a thousand going out each month while Julia's Use Facebook adds a referral programme in sales, funnels Tagara customer base and basically what a sales bundle is in. This context is a discount in exchange for an email address and then an email sequence, so she's essentially trying to build relationships and then converting the customers she's also about relationship Female entrepreneurs, her target market through Facebook groups and in person events as we see in so many of our stories. There have naturally been a few hiccups along the way, for example, that person who won.
The free annual subscription very first one Julie forgot to check the box. Do not renew in her account an excellently charged her for the second year when the prize expired. That was a surprise to both of them and Julie, quickly. Learn that she'd, better know her software systems inside and out. She refunded the buyer and apologized, but it didn't go over well unduly felt like she lost a possible soup. Seasonality is another challenge, subscriber numbers and a drop in the summer when her audience is taking a break or going on vacation running their kids back and forth. The summer camp sedulius learn to plan ahead in terms of cash flow marketing, and For it all the extra income is meant. Julie's family has much greater financial freed up. That's the whole point right in fact husband is now able to home school. Their daughter Julie made the decision closer web agency, because she had shifted or focus to the subscription box and replaced your full time income with that, in fact, she's become so good at the subscription by
business that she launch an online course called Subscription Box boot camp. This is a science. To what is now her main hustle subscription boxes, a lot of moving parts in July The information can be Roy scattered, so she considers this course and a community to be like the Disney fast pass to success with launching, I think the fast passes where you can kind of skip align, but not too familiar with that myself. She also created a podcast called Subscription box basics. You might say sparkle, hustle grow, didn't work very well towards Julie's, intended goal. Remember she wanted it to be a referral tool, but it became something much better There is some wisdom from purely very much aligned with the side of course go away. She says you dont have to be we think to everyone. In fact, that's a recipe for disaster. You should
in very specifically on your idea. Customer avatar avatar is just a fancy word for profile. Who is your idle customer? What do they believe in what are their values? What are they like? Then, when your marketing speak directly to that person. Not one challenge I always have with subscription boxes. Is creativity and churn? Churn is essentially the rate of subscribers dropping off right, because people subscribe for a couple months, maybe even three to six and maybe even a year, but then, when that renewal time comes in for going to stick around and historically with subscription boxes. Churn is a real problem. So that's why it's connected to creativity like how do you keep it fresh month after month? How do you keep that anticipation up as well as, of course, the willingness to keep paying so you're gonna start a subscription bar That's something you do. They want to think about from the front end, not something you want to figure out later, because it so critical to success. I'm sure joy could say much more about that and probably does in her past so check that out in
guide for inspiration with action is so much better. Today's show notes, including links to everything mentioned on the episode, will be at sawdust, will school dot com, one thousand six hundred and seventy four one thousand six hundred and seventy four thank you for coming in today. I hope you driver follow every get your bike ass come back tomorrow. My name is critical about this is side also school. From the onward projects.
Transcript generated on 2021-08-10.