Why I decided to earn $6,000 less per month in my business - Your Social Team
Maybe a little.
But the fact is that I started this business to help women business owners increase their income mainly through Instagram. but I also go beyond that and talk about business strategy, Social Selling, partnerships and email marketing.
Today, this mission is even more important to me, as a Latina mother of two girls at a time when we are watching women and minorities have their rights stripped before us.
Women and minorities don't just need allies in the form of cis men. We need financial independence to start empowering other business owners like us to trickle down to the communities around us.
But I'm straying from the topic. I know you're here to find out why I decided to give up $72,000 in a year on the brink of a possible recession.
I have decided to revamp my training and support membership and lower each individual member's monthly rate to a new, super-low $17/rate. We also gave a partial refund to all annual members.
Six thousand a month, or $72,000 a year, is how much it has decreased for us.
In fact, it will cause me to miss a huge revenue milestone this year. But I'm still sure it was the right move (ethics be damned! haha).
But why did I change it all?
I did this because I no longer believed that my old training membership model, the classic educational membership where members get monthly classes, guest classes and live classes, was the best way to help busy business owners and social media professionals get ahead.
I started my training membership almost 4 years ago and have implemented many improvements since then, but things have changed a lot in the last few years when it comes to running a business. Social media, our relationship with it all and our need for boundaries. So it was time for a complete redo.
First and foremost, when I started this membership, women in the business who used the Organic Instagram for marketing their services and products, needed to learn more about Instagram. Back then, I was the only one offering this style of membership in my circle or area. Fast forward to today and there are so many more offerings. And the same demographic is now "learning too much."
They are part of several business memberships they hardly visit, buy courses they never finish and follow dozens of coaches who post about tips and hacks, sometimes contradictory.
There is educational overloadthat's going on right now with women in business and no one is talking about it. No wonder everyone is stressed, overworked and spending more time learning (or browsing the sales pages of all these programs) than making real changes in their business.
I want to see real impact. Not only in your business, but also in the mental health and lifestyle of entrepreneurs. Because you can have an amazing business, but if you, the founder or CEO or all of the above, are operating at a breaking point all the time, the business will eventually come to disaster too!
So here's why we decided to do it differently:
-
I don't want people to pay for a lot of activities they don't need or don't have time to watch
-
I'm not a fan of one size fits all business and social media advice
-
I definitely don't want to offer memberships that require people to put in x number of hours that they don't have each month, leading to guilt and adding to overwhelm
-
I also don't want people to know every aspect of an Instagram feature before they even try it! Imagine the pressure to follow 12 micro strategies, instead of just casually trying something and improving over time!
So we changed the name, the branding, all the content and the approach. Now it's a much more minimalist model, if you will. You have a short library of mini-classes with just the key points that people need to know about each topic and really focus on individual support within a group of members.
We've lowered the price by 75% (tif earmuffs you're my accountant, please!) and now have a balanced membership that doesn't add to the hustle culture problem, but instead is accessible to people regardless of their budget and gives them tailored advice and accountability.
Whether we will see 72k or even more revenue back from this change, I am yet to see. Most likely within 6 months, yes. But I'm lucky that I don't have to worry about the change if we don't.
Have you ever made difficult decisions in your business? I'd love to hear what they were!
Happy day,
Manu
PS: Our new Instagram Coaching membership is now open for 17$/month. If you are someone who would like to have an Instagram expert to pick their brain, unlimited, this is for you (and yes, most of our members are women, but the content is for absolutely everyone and everyone is welcome!)