You Have To Start!

Good morning, good morning! It is time for Monday Momentum. If you're new around here and you would like to get a text from me every Monday morning when I go live, right before I go live, go ahead and send me a text reminder. Just text the word Monday to my text number, which is 940-204-0023, and I will send you a quick text right before I go live on Monday mornings. Now, it's almost every Monday morning. Sometimes I'm out of town, um, and I don't. So I'll text you every time before I'll go live. I'll give you a little dose, a little pep talk, a little sense of inspiration, a little bit of motivation, and a lot of momentum to get your week rolling in the right direction. So good morning, everybody. Let me know where you're watching from this morning. We've had an excellent week. I'm gonna say week— night. I don't even know what day it is anymore. I went on vacation, then I was at Sub Summit, then I went to Market, and then I kicked off Subscription Box Coaching Week, uh, last night. And y'all, it was fabulous. It was fabulous. Let me just give you some of the highlights, um, already. So, um, we had over 600 people live with me last night just live for almost the entire hour that I was training inside Subscription Box Week last night. If you were at, if you attended Subscription Box Week the first night last night, let me know. Just say, I was there in the chat. Yeah, the group is on fire, Stephanie. So there is so much positive energy inside Subscription Box Week. Now I only run this once a year and so it started last night, but so much positive energy. We had over 600 people live doing the workshop with me last night. So that was pretty fabulous. And we already have over 100 brand new members inside Launch Your Box. So I'm so excited about getting to go on this subscription box journey with all of you. Yeah, I can see in the chat that, that you were there. Chris says, I was there. Lisa says, I was there and loved it. Marci said, I watched this morning. Girl, you've been up at it if you've already watched that this morning. Monica was there. Amelia says, yes, it was so good. Lisa says, I was there. Awesome info. Here's the thing. It doesn't matter if you're brand new and never done this before. It doesn't matter if you've gone through that workshop with me before, because sometimes we just need that momentum and that's— we just need to get unstuck. Lila, don't worry about it. Um, you can watch the replay today and catch right back up to us. I'll have another training in there tomorrow. Jasmine says I was there. Vontina was there. Um, yeah, no problem. So what I want to talk about today is really what recurring, recurring revenue can do for your product-based business. It's really priceless because if you have a product-based business You know, it's kind of this roller coaster. Not kind of, it is a roller coaster, let's be honest. It's like you have a lot of sales, you can have a really great day, you could have a really great week, you're— and then it just drops. And, um, you could have crickets, you could have no sales for days, you could have no sales for weeks, and you really are on this feast and famine cycle as a product-based business owner. So you have no more of that. Once you build recurring revenue into your business, you don't have this feast and famine all the time. You don't have to worry about buying inventory and wondering if it's going to sell or if you're going to have to clearance it out. Like, you don't have to worry about your inventory when you have a subscription box business. There's no more hustling every day to pay your bills. Like, I'm a hustler. I am a hustler through and through. But y'all, We're tired. We're tired, y'all. We are exhausted. What the world has dealt us over the last 4 or 5 years has just made us exhausted. I have hustle in me, and I will get up and I will hustle as much as I need to. But you know what? There's some point where we just become tired, and the hustle is completely draining on us. And that's not a life that we want to live. We don't want to have to hustle every single day just to pay the bills. We're exhausted by that. We want to hustle in spurts and we want to rest. We want to live our life and we want to go hard. And there's a difference in that. We shouldn't have to hustle every single day of our life, right? We show up, we sell one time, and we reap the benefits of that over and over and over again. And for me That's 18 months because I keep my subscribers on average for 18 months. So I have to hustle to get that sale one time and it pays me 18 times after that one hustle, right? To get 18 sales from one customer in 18 months is hard. To get that consistent revenue from one con— Customer 18 times takes a lot of hustle, but I get there, I get their 18 sales from getting them in one time. But also, that subscriber that, that stays on average for 18 months is also one of my best customers in my one-off shop. They buy all the things. They're loyal. They love what I send them. And it makes them connected to my business. You don't have to have thousands of subscribers to be profitable. And you know, there was a comment last night in the group, um, about, well, what if I see my box, someone else is doing my box? You don't have to be FabFitFun. I'm not FabFitFun and I make a great living. I have subscribers that love me for me and they don't want to be part of FabFitFun. What if you had an extra $1,000 a month right now? I want you just to truly think about it. Like, just really let that set in. If I had an extra $1,000 a month right now, what would that do for me? It'd probably relieve some stress in your life. It would probably make something really comfortable for you. Maybe that means you can pay your car payment. Maybe that means you can buy groceries without having to take a calculator with you to check out. It might mean that you don't have to worry about where you drive because you can afford the gas you put in your car. What would $1,000 extra right now do for you? Do you know that 50 subscribers at $50 a month with a 40% profit margin would put $1,000 in your pocket? 50 subscribers. I don't want you to think that we all have to be these giant businesses to be successful. 50 subscribers at $50 a month with a 40% profit margin would give you an extra $1,000 a month. 300 subscribers at $50 a month with a 40% profit margin just gave you a $6,000 a month raise. In your pocket? What would that do for you? Let me share some of my stats with you. I shared them last week at Sub Summit, but I think they're really powerful when you understand what this style of business could really do for you. 75% of my annual revenue comes from subscriptions. That means I can count on 75% of my revenue every single month. In a year's time, that means I can count on 75% of my annual revenue to come in like clockwork. What if you could, what if you could do that? What if 75% of your revenue on a monthly basis, on a monthly basis was recurring and you didn't have to worry about it from month to month? And those subscriptions that are 75% of my revenue have a 67% profit margin. 67% profit margin. That's huge for my little business. 40% profit margin is completely doable. When I started my subscription, I started at 45% profit margin, and now with all 3 of my subscriptions blended, I have about a 67% profit margin. And that increases as you increase your buying power. So the more you grow, the more buying power you have, the more you buy in bulk, the more you can negotiate, the more resources you have. Game changer. Here's one more stat I'm gonna, I'm going to share with you. So 75% of my annual revenue comes from subscriptions, Those subscriptions have a 67% profit margin, and I have a 96% monthly retention rate for my subscription box. Think about those stats for your own business. What would stats like that do for your business? How would it change your business, or how could it change your life? What if your subscription box could cover your mortgage every month? What if your subscription box could put your kids through college? I've got one going to college in a couple months to a D1 school that I won't have to take a loan out for, and he won't either. He won't go into his adult life in debt. What if your subscription box could do that for you? What if it meant you could take your family on that dream trip next year? It can. It can do all of that. You don't have to have a huge business to make a good income. You just have to get started and you have to stay consistent. You've got to stay consistent when things get hard, because things are going to get hard. You've got to stay consistent when you don't want to. Do you know how many days I wake up in the morning and I'm like, I don't want to work today? And there's nobody making me go to work today. There's nobody that I have to punch a clock for. There's no— I don't have a boss over my shoulder telling me I have to be there at 9 o'clock. And I gotta work till 5. But you've got to stay consistent even when you don't want to. You've got to stay consistent when things aren't working the way you thought they would. And if you can do that, you'll be ahead of everybody else that gave up. Even if your progress is slow, even if you don't see changes overnight. Entrepreneurship is hard, but you know what's harder? Punching a clock knowing you can never get ahead. Punching a clock knowing that your paycheck will never be more than you need. Staying stuck in a life you wish you could get out of. That's what's hard. All this other stuff we can push through if we want it bad enough. I'm not special. I didn't have investors. I didn't have a bunch of capital. I bootstrapped my business. It started with 44 subscribers, and then I bought product for 75 subscribers, and then I bought product for 100 subscribers, and now thousands. But it doesn't happen overnight. With consistency, you can make real progress just by showing up for yourself every single day. Tracy's in the comments and she's absolutely right. You got to show up for yourself. There's nobody behind the scenes making you do anything. But you got to be consistent at it. You don't have to be the best. You don't have to know the most. You don't have to be the expert. You just have to be consistent. I have a saying that I like to say all the time. You might have seen it on my social media, but it, it's— I say, you don't have to be extreme, you just have to be consistent. And it works over and over again. Like, you don't have to go viral to be successful, because you know what happens when you go viral? It doesn't last. You're like MC Hammer, you're a one-hit wonder. Consistency lasts. You don't have to go viral. You don't have to have it one time to be successful. That doesn't last. It doesn't build a long, sustainable business. All week long, I'm going to be doing live interviews with members. Um, that have just stayed consistent. They have consistently delivered value to their customers and they continue to grow. And I'm going to share them with you every day this week. I'm going to go live and do interviews. I have the first one today, it's at 1 o'clock Central. You're going to hear from Amy. Amy, super tech challenged, like she just now started running ads in her business and has over 900 subscribers. Amy has a brick-and-mortar shop where she sells sewing machines. She's created a loyal fan base and has provided subscriptions to meet the needs of her sewing machine customers. You just have to start. And what we were talking about this last night in Subscription Box Week about overthinking because I was really challenging them to do an exercise that required you to think really quickly for 60 seconds, and I could see it just paralyzed some people. We can overthink everything in our lives. We can. That's, that's especially women. Like, come on, that's who we are. Um, we can overthink things. You don't have to be perfect to get started. I don't want you to be perfect to get started. We figure things out as it goes. But if we never start, we're never going to get anywhere. You have to start. If you're not in Subscription Box Coaching Week, we just started last night. Don't put it off. Go sign up. Go watch the replay from last night and let's get started. Let's stop talking ourselves out of I can't start yet because I don't have this. I can't start yet because I don't have this. I can't start yet because I haven't figured all the things out. I didn't figure— I didn't have them figured out. And everybody that I'm going to introduce you to this week on interviews didn't have it all figured out. They just lobbed it out there and got started. And that one step built momentum to take the next step and the next step and the next step. And you're going to see where they're all at now. But if you never take that first step, In 6 months, you won't be anywhere further than you got started because you never took a step. You were overthinking. How big of a step did I need to take? How— what shoes was I going to wear? Where was this path leading to? Like, I got to know which— what— where the road is going before I even get on the road. If you're stuck in that, it's time to take the step. Because in 6 months from now, If you start taking one step a day, do you know how far you're going to be? Do you know what could change for you? Remember I talked about $1,000 a month? Got a fly in here. $1,000 a month right now could relieve so much stress for so many of you. And what happens when you start to multiply that? $2,000 a month, $3,000 a month. How about 6 figures a month? What if your subscription box could bring in 6 figures a month? It seems crazy, right? It's doable. You just have to start taking that first step. Stop doubting yourself. There's a saying that my mentor, you know, recently said to me, said, "You've got to lend people your courage." I have a lot of courage. I just do things and I figure them out. I'm going to lend you my courage this week inside Subscription Box Coaching Week because like I just said, I'm not special. I'm not anybody different. I'm this small town, Southern girl from Texas who just was tired of working for everybody else, and I wanted to do that. I wanted to do something for me. I wanted to change my trajectory. I got laid out of 3— laid off of 3 jobs in a row, back to back to back, and I said, no more. I'm taking control of my future. Someone's not going to dictate whether I have a paycheck next week or not. And I started and I couldn't pay myself for a while, but I just kept staying the course. I kept taking one step in front of the other and I didn't have a coach to tell me how to do this. And I didn't have someone that had already walked that path. I was walking down that path blindly, trying to figure it out, knowing I was on to something bigger than I, than I ever could imagine. I'm going to lend that to you. You can do this too. I'm not special. I'm not. I didn't have investors. I didn't have capital. I am a 40-something-year-old single mom that lives in a small town in Texas. If I can do this, you can do this. That's what I want for you. That's the momentum I want you to gain from today. It's time to take steps. So tell me in the chat, what step are you willing to take today for yourself? Baby steps. They don't have to be leaps and bounds. We're not going to start something and it just create this giant thing. That can happen. It's rare. But one step builds the momentum to the next step. If you're not in Subscription Box Coaching Week, I want you to come join me. We have some special bonuses. One of them ends tonight, um, for members joining us in Launch Your Box. Um, we've already had over 100 brand new members join Launch Your Box in the last 24 hours, and I'm so excited to be on the journey with them. But we got to start taking steps. So I want you— step 1, come join Subscription Box Week with me. It's going to fill your cup up more than you know. Bet better than any $15 you're going to spend anywhere this week. I promise you that. 2, I want you to go do the Post-it note challenge from last night. You've got to do the work. I can't build your business for you. You've got to do it. I've laid out the steps. Follow the path. Follow right behind me. Do the Post-it note challenge. And then I want you to show up this week as much as you can, live if you can. Replays if you're at work or you have other obligations as quickly as possible, because I need you to show up for yourself. This is a test of whether you can show up for yourself the way you need to do in a business. Create some consistency by showing up for the trainings this week. It's, it's your time. We've got 6 months left in this year. It's not a wash. We're not starting in 2025. We're not starting our, our diet on Monday. OK, we're starting right now. We have a lot of time that we can really make progress. All right. So I'll see you inside subscription box coaching week. I'll be back later today with an interview with Amy. And I just can't wait for you guys to start taking your steps. We've got this. I'll see you soon.