“What are the things that are never going to change? People are still going to have pain points, they’re still going to have problems, they’re still going to have aspirations. To be a good business person […] you have to know how to talk to people and illicit a reaction. The people that are going to get screwed [by new privacy and tracking updates] are the ones that are overly confident, or even at times arrogant, in thinking that “if you create it, they will come.”
Investor and business advisor, Cole Humphus, joins the podcast with Davey and Jesse to talk about how he was able to make the jump to membership model in his business and quickly scale it. Cole also shares why adding more content to your membership may not be the key to getting people to stay and the strategies he suggests to combat churn rates.
If you want to hear more about how scaling a business now requires more than just launching a good product and some low-cost methods to get in front of your audience, listen in.
In this episode…
- [6:47] Cole shares how he started Cole’s Classroom for photographers
- [9:15] Cole mentions what he thinks was the key to his business growth
- [11:18] Learn what made Cole decide to make the jump to membership model
- [19:21] Tips from Cole on how to scale your membership
- [20:59] Learn the strategy Cole used to grow his membership from 600 to 1000+ members
- [23:43] How to prevent or address churn in your membership
- [27:03] How your focus may change as your business grows
- [30:40] How scaling your business in 2021 is different than it was a few years ago
- [37:57] Should your product suite be related or unrelated in the same niche?
- [41:47] How to get in front of your audience with as low cost as possible
- [44:54] Why you have to do more than just create a good product
- [48:07] Cole’s thoughts on the future of Clubhouse
- [53:48] The worst and best business advice Cole ever heard
About Cole Humphus…
Cole rapidly scaled the online photography education company Cole’s Classroom to 10,000 members & multiple 7 figures before the company was acquired by ShootProof in 2019. Now Cole is focused on helping other online course creators, coaches & experts build businesses that can rapidly grow past 7 figures with sustainable & predictable profits on auto-pilot so they can have both a great business without sacrificing a great lifestyle. Learn more about working with Cole to grow your business at www.rapidscalesystem.com
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