This issue of Walk with Me is brought to you with HappyScribe – My preferred auto-transcription service. Easily turn your videos & audios into blog posts & transcripts (with great accuracy).
Relying On One Platform Cost This Business $100M
One of my mantras is to always build-out your own platform (having your own website AND email list).
It’s fine to make-use of platforms you don’t own but never depend on them completely (e.g. Youtube, Instagram, etc).
This founder shares his costly lesson which re-enforces this mantra where he depended too much on Facebook and it cost him his business, $100M & more.
The Recurring Revenue Myth
You probably hear this all the time, figuring out a way to generate recurring revenue is the holy grail of information products business.
But, what you don’t hear is that it is very difficult to get going and maintain.
Recurring revenue model is nice to have (don’t get me wrong), but you’ll want to look at your business to see if it makes sense:
The recurring revenue myth: If you have recurring revenue of $99/mo, but on avg they churn at month 3, consider selling it as a one-off payment product for $397 instead.— Vincent Po (33/100) (@vpo) February 24, 2022
Recurring revenue is nice, but need to evaluate if that model actual works for you. #tweet100
BTW, I share other bite-sized thoughts on Twitter such as, how time-limited discounts can backfire or how to get more responses to your campaigns, that doesn’t always make it into the emails, please follow along here.
Should You Publish/Sync Your Email Content to Your Blog?
Brennan Dunn of Create & Sell, shares what he learned about list building from James Clear.
Brennan answers an interesting question: Should you publish/sync your email content to your blog?
FYI, I’ve used this strategy of publishing my email content to my blog(s) for various businesses and it works for what my goals are.