What is your best customer worth? Of all the customers that you have in your business, what is the absolute most a customer can make you or has made you? For me, with OnProperty, my best customer – up until a couple of days ago, made me probably somewhere around maybe $400, maybe $500 or something like that.
They might have purchased an annual subscription to OnProperty Plus for $300, maybe some eBooks or courses up to the value of maybe $500. Or, I could have had some that was a subscriber for $300 subscribed to 2 years. Okay, maybe $600 is my best customer ever.
Well, there was actually a customer the other day, on Sunday – a day when I wasn’t even working, that beat that record and spent somewhere around $800-$900. Almost $1,000 and this was absolutely awesome to see. I through phases where I get a bit worried about money.
Last month was really good in terms of I closed down OnProperty Plus, changed it to OnProperty Listings and as a result, increased the prices. So, I got a big influx of income – about $4,000 or something like that from that promotion and people signing up as a result of that promotion.
So, I’m going into this month, into October, thinking, “Okay, a bit more stressed about this month.” I don’t have $4,000 automatically coming in. I’ve got about $1,000 revenue from Property Tools as well as OnProperty Plus/OnProperty Listings monthly subscription. So I’ve got about $1,000 coming in. I’ve also been working closely with Ben Everingham, recommended a few people to him. So, it might be $2,000 coming from him, but it’s never certain with buyer’s agents.
They’re working with a couple of clients and if they can’t find the property, then, Ben is so honorable, he gives the money back. So, that could potentially result in no money coming in. So, I’ve got about $1,000 guaranteed and I’ve got about $2,000-$3,000 a month in expenses now. Things just go up as you become a more profitable company.
So, going into the month, just a little bit more stressed about how much money I’m going to make. What am I going to sell? How am I going to do this, blah, blah, blah, blah… And then, I get this customer on Sunday who spends $900 – almost $1,000 with me. And I go, “What am I stressing about? I’ve got people who want to spend this amount of money with me. I must be doing something right.” And anyway, there was one offer – I had 2 conflicting offers, one for $50, one for $80. So, I emailed this customer, I said, “Thanks for being the best customer ever. I just want to let you know there was an offer on this for $50 for people who bought this other course.
I’m going to honor that and refund you $30.” emailed them, blah, blah, blah… I got an email back from best customer ever yesterday and they said something really interesting to me over the course of this email, which was quite long. But they said, “Ryan, don’t underestimate yourself.” He said, “I wanted to buy everything that you had and it was a lot of work for me to go through and to find all your products and to purchase all of your products individually. So, don’t underestimate yourself and why not have a ‘buy the lot’ option as a way to convert every customer into your best customer ever?”
I was like, “Oh my goodness! You are a genius! Thank you so much. You’ve just gone from best customer ever to absolutely best customer ever because you’ve given me an awesome idea.” This customer has shown me that the buying process that I have isn’t ideal for my customer. I create videos, audios and blog posts so customers can consume my content in whatever way they want. But when it comes to my products, I haven’t exactly made it easy for customers to purchase everything.
I guess part of that was I wanted to break things down for customers and service their needs. So, kind of like a supermarket where you go to the supermarket and they’ve got thousands of items and they never intend you to buy everything in one shop, but what you need is there for when you need it and when you need something else, then you come back.
I guess my product strategy was the supermarket sort of strategy where I’ve got a whole bunch of different things there that service different needs. Come and purchase this product when you have that need. And when you’ve got a different need that I can serve, come back. But I never thought that maybe there’s customers that are passionate enough they just want to purchase everything all at once and I need to make their experience better. So, definitely going to add a “buy the lot” option to my products page.
At first, I was like, “Well, how am I going to do this?” Because OnProperty Listings has monthly, annual and 2-year options. Property Tools only has monthly and yearly. How am I going to do this? But I think the way I’m going to do it is I’ll scrap the monthly because if someone wants to buy everything, then they’re pretty keen on spending money and I’ll just offer a yearly and 2-yearly options. Yearly for OnProperty Listings is $480.
Yearly for Property Tools is $50. So, that’s $530 plus everything else. And then, the 2-year option for OnProperty Listings is $720 and then I’m just going to leave 2 years for Property Tools at $100, so no discount for getting property Tools for $100. So it goes $720 to $820 plus then I’ll have 3 courses at $300 each so that’s $1,120. Plus I’ve got the eBooks that’s $7 so it’ll be like $1,127. So, I could, eventually, once all my products are out, I could have a “buy the lot” where someone could spend $1,127 with me in one go.
All of a sudden, I only need 4 customers a month in total in order to achieve my income goals that I set for the year. Obviously, not everyone’s going to do that, but maybe get 1, 2 or maybe 3 of those customers a year and that’s a nice little kicker. Definitely, big thank you to my best customer ever who has now spent the most money ever with me and has also given me a great idea in order to improve how much my customers are potentially worth. That was a really cool breakthrough for the week.
Bit of an update from last week, when I worked 25 hours a week, took me a little bit to get used to it. The first 2 days I think I finished the day and I was a cranky shit. I was like, went down and I was just cranky for some reason.
I was quite rude to my family. I don’t know why exactly, but I think it was just the stress of it. And the mindset of working less and feeling like my family is taking away from my work time, which is not the intention at all, you know. I value family over work, so I don’t know why I was thinking that. But I kind of felt like that and I was like, “Oh, well, this is crap. I don’t get to work” So, the first couple of days were hard.
Third day, I had about half an of being cranky after I finished work. And then, by the fourth and fifth day, I was quite happy with the work schedule that I had and what I was doing and I was less stressed. So, I had a great day on Friday with the family. I had a great weekend. And then, Monday was a public holiday up here, it was super hot. So, we ended up going to my mother-in-law’s place to swim in her pool.
Even though technically, I’m not doing 25 hours a week anymore, my stress levels – oh my goodness, have they gone down so significantly! Because I was like, “Yup, absolutely. Let’s go for a swim in the morning.” We went for a swim. I started work at 11:00 and then I finished work at 3:30 of 4:00 or something. I actually wasn’t feeling very good that day. I had a super sore back and ended up passing out asleep at 5:00.
My stress levels have gone down significantly. So, Tuesday, I did 8:00-4:00, that was yesterday. Today, I’m doing kind of 7:30 until 3:00-ish because as soon as the kids come home from school, we’re going to go for a swim because it’s hot again. Then, tomorrow, I’m going to see The Martian, which is an absolutely awesome book that I read and apparently, it’s a good movie, too, so I’m going to see that. And then, hopefully, got Smash Brothers tomorrow night. We’ll only work a few hours on Thursday, which I’m fine with. And then Friday I’ll probably do a full day there.
I think the 25 hours a week, definitely something that I want to move towards. It was great to that example and to do that week. As well, to work with my wife and to be able to help her out more with the 3 kids. Because having 3 kids and taking care of 3 kids is really hard. Not just for her, but just in general. And so, being able to help her more reduced her stress levels, leads to a better family balance, better emotional health; which leads to a better relationship that we have together. Definitely something that I want to pursue more is work less and be more focused.
Another thing that I realised about working 25 hours a week is I’ve got more important shit done! Often I’ll spend a day and I’ll just fat ass around. I’ll get some emails done. I’ll do some admin stuff. I’ll get stuff done, but it’s not stuff that’s super important. When I got 5 hours a day, I lean on my virtual assistant more. I’m like, “Okay, I’ve got 5 hours. What am I going to get done? Alright, I’ve got to get some videos done.
Let’s get these videos created, let’s get these videos edited and uploaded.” Bam, they’re done. Off to Dipti in order to manage them and publish them. So a lot of work that I was doing was more valuable work. I can actually potentially achieve more working 25 hours than I could working full time. Because I just do less stupid tasks that I probably shouldn’t be doing anyway. So I’m going to have to think about this.
We’ve got school holidays again in about 8 weeks. The kids have 9 weeks off or something like that. So, I think, over that Christmas break, I’m probably going to do 25 hours a week for maybe 8 weeks or 9 weeks or something like that. In Sydney for a week, so that’ll be a holiday. Probably have another week of holidays, but I was thinking and talking to my wife and we’re saying, “Yeah, well, let’s just do this.” At least we know if I run out of money or we start running out of money or I’m not making enough, I can just increase my work hours again and find out ways to make more money.
So, yeah. That’s where we’re at. That’s where we’re at. Enjoying my Smash Brothers, practicing that pretty heavily and getting into that. So wanting to become good and, eventually, would love to be able win some competitions, win some tournaments in Smash Brothers as my Peach player. But that’s another topic for another day.
That’s it for me today, guys. Until next time, stay positive.