July 6, 2020

Is High-End Continuity still a significant part of your business model?

Is High-End Continuity still a significant part of your business model?

Is high-end continuity still a significant part of your business model? No, high-end continuity isn't and it never really has been. By high-end, I'm assuming you mean multi-thousand dollar consulting engagements...

Transcript

Nick asks is high-end continuity still a significant part of your business model. No high end continuity isn't and it never really has been. By high-end, I'm assuming you mean like multi-thousand dollar consulting engagements or whatever. So for me, the highest-end thing, meaning the most expensive thing that we sell is our private client group, which is closed. 

And so I'm not trying to pitch you on it or whatever, and it's 40 grand a year and a lot of our folks remove. And so I guess, technically speaking, you could call that, continuity, but the other stuff is primarily our network. That's $397 a month. So I don't really consider it continuity. 

What I do want to add though, to that is continuity in and of itself is definitely a big part of our business. Like everything that I do today ultimately drives to have people join our community. That's called the network. And stay in there. So, whenever I deviate from that model, I used to have a similar program incidentally called Kern Inner Circle, which was a physically shipped newsletter. And I switched it to the network, same price point, similar deliverables. I switched it when COVID happened because physically mailing things became challenging or at least I thought they were going to become challenging. So it was like, okay. I'll shift everything to virtual and we used to offer two calls a week or whatever, video conferences a week and I would be on two of them a month and then we'd ship a physically printed newsletter and we shifted it to now. 

I think we have seven live video conferences a week. I'm on one every single week. And we have this nice, really cool community of people that are all interacting. It's like social media, but clothes. It's really, really neat. And that's a massive part of our business. And I would recommend to anybody. 

That is any business at all, figure out a way to create continuity in that business and be sure to do it in a compliant manner, so make sure you're checking all the boxes on the stuff you're supposed to do with continuity having that program and having those offers and that consistent revenue has saved my bacon more than once. I can tell you that I would rather personally, have a hundred grand a month coming in for sure, over 12 months over 1.2 million bucks today. And that's a personal preference, that's a psychological type of thing, but I like that feeling of certainty, there's a whole lot of benefit to having that level of certainty. It is a very, very important part of my business model and a really good resource, incidentally that I did not create. If you're interested in just continuity in general and building subscription revenue and new ways to approach it, there is a book called the Automatic Customer. And I think the author is a guy named John Warrillow. And, if I got that right, it's a miracle because I read it years ago. My memory is terrible, because I've partied a lot. So I don't know, if you can hear that rain outside, but man, it's really coming down.