Marketing expert Dom and innovator Laura share the tactic that brought an extra $120,000, while Rebecca and Ryan executed it. They discuss the shift in strategy at AJ&Smart, the decrease in revenue in 2023, and the marketing idea that boosted revenue by over 100k in a week. The conversation touches on the challenges entrepreneurs face in gaining momentum and the importance of staying relevant in the business world.
Live events drive revenue growth through new offerings and re-engaging old leads.
Focus on urgency, action, and avoiding procrastination for entrepreneurial success.
Deep dives
AJ&Smart's successful strategies
AJ&Smart's focus on live events, such as live streams, webinars, and trainings, has proven to be successful in generating revenue. The launch of new offerings, like the full stack facilitator training, has brought in significant revenue, showcasing the effectiveness of creating excitement around new products. Additionally, re-engaging old leads through live events has led to substantial revenue gains, demonstrating the importance of innovative customer re-engagement strategies.
Challenges with continuity and retention
AJ&Smart's struggles with concepts like continuity and long-term retention have highlighted the company's focus on short-term launches and one-time products. Initiatives such as the inner-circle mentorship monthly plan faced challenges in maintaining engagement and revenue over time. The company found that the maintenance required for ongoing monthly subscriptions did not align with their strengths, leading them to focus on one-off launches and event-based strategies.
Importance of urgency and action in entrepreneurship
The podcast emphasizes the significance of urgency and action in entrepreneurial endeavors. Urgency in decision-making and a bias towards taking action are identified as key attributes for entrepreneurial success. Procrastination and over-analysis are discouraged, with a call to prioritize taking tangible steps towards business goals rather than getting stuck in theoretical discussions or planning. The podcast highlights the role of financial pressure and urgency in driving entrepreneurial progress and achieving tangible results in business endeavors.
A small marketing experiment is set to bring us in an extra, unexpected $120,000 this week and it signals a change in strategy at AJ&Smart (credit to Dom and Laura for the idea and Rebecca and Ryan for executing it!)
* Why we made LESS money in 2023 for the first time in AJ&Smart history
* Why AJ&Smart not growing can mean the company simply becomes irrelevant
* A marketing tactic we’ve been playing with that boosted our revenue by over 100k this week alone
* Why so many entrepreneurs just never get momentum!