In this podcast episode, Tracie welcomes Emily Reagan to discuss the evolution of her online business focused on empowering virtual assistants through comprehensive courses and a supportive community. They delve into the nuances of transitioning from client work to focusing on mentorship and coaching, the importance of high-touch onboarding, and strategies for sustainable business growth. Key discussions include the challenges and benefits of membership models, the commitment to not just be a job board but a place of growth and connection, and the critical role proper team building plays in providing quality support to community members. Emily shares insights from her journey in refining her courses, leveraging her PR background for greater visibility, and the decision to focus on annual membership dues for a more committed community engagement. The conversation wraps up with an encouragement for listeners to engage with her community for networking, job opportunities, and further learning.

00:00 Welcome to the Podcast: A Fresh Start

00:13 The Power of Guest Coaching and Letting Go

01:38 Exploring Digital Products and Membership Models

03:15 The Journey of Pricing and Membership Evolution

05:17 Facing the Realities of Business Growth and Strategy

10:16 Navigating the Complexities of Membership Models

13:08 The Challenges and Insights of Scaling a Business

18:42 Reflecting on the Entrepreneurial Journey and Future Directions

26:53 Unlocking the Power of Networking and Referrals

27:49 The Essence of Community Over Job Boards

29:11 Navigating the Freelance World: Challenges and Strategies

30:38 Embracing Change and Growth in Online Business

32:12 The Journey to Effective Delegation and Team Building

39:28 Evolving Business Models: From Membership to Self-Study Success

49:18 Navigating Online Promises and Realities of Freelancing

50:37 Where to Connect and Learn More

A free tool or two from our host and guest:

Got a question or comment?

www.traciepatterson.com/ama

Want Tracie's best trainings or to find out more?

www.traciepatterson.com/connection

Want one of Emily's Unicorns in your business?

Post your job with her workgroup: http://hireaunicorn.com/

Connect with Emily and join one of her projects

https://www.instagram.com/emilyreaganpr/

Become a Digital Marketing Assistant through Emily's Unicorn Digital Marketing Assistant School

https://courses.emilyreaganpr.com/selfstudy

CREDITS

Music ColourfulSounds

Podcast Editor Maia McLachlan

where I'm going with it Certain it will work out, but it's not quite so sexy as it looks like.

Let's drop in on our conversation.

I

It's like, I have that chance to kind of help people feel that sense of, oh, that's why that happens. And oh, okay. Now I feel like I can do something, you know? So I, I love guest coaching, but, I know with you, Like with what you have, cause you have this, this big program that you do, but then you also have this separate, do you call it like a membership or do you call it like an add on?

Like, how do you distinguish these different pieces that, that you have for people?

I saw the possibilities of membership. I didn't see it for myself until someone else pointed it out. Like it's like how business works, right? I'm like doing it for everyone else, but unable to see the possibility for myself when it came to membership. But I realized I didn't quite have the volume with the course, and I really only had the capacity to launch. So many times a year, like right now it's once. So

And that's another thing I did this go all in with Kajabi at the beginning. Although now I've piecemealed things out. I did add active campaign, but just to keep it easy, I went all in and it was a little bit scary because I wasn't really making money doing this yet, but I knew it would hold my butt to the fire if I had a big old kajabi bill and it would motivate me.

So I did the annual And my very first launch covered that cost. And it just felt like I was on top of the world. You know, I proved the model. It wasn't about profit. It was about covering my kajabi

bill.

And I love that. And then, then the lessons that you've learned since then.

And I don't even know if I told you this Tracie, but I have decided to close the doors on the monthly, the low monthly rate, because I'm tired of the dunning process, I'm tired of people quitting. I'm tired of people, you know, buying for a month and then leaving. And I tried the three months, you know, minimum commitment at the beginning.

And I need the price to reflect that. And I need the commitment level to reflect that if I'm going to support these people. So yeah, it's exciting and

scary. I'm so scared. I'm like, what if, what if it's too high? But I got to look at my cost of goods, you know, to deliver.

400 because I'm afraid nobody can afford it.

yeah. And for so long, my price was 47 a month.

It's

29, but it was at

And I'm working doubly as hard to keep people. I'm like, this is not working for me.

Yeah.

Absolutely. Absolutely. Right. You know, and, and paying, you know, yourself covering your own individual costs as well as any staff that you have, then it's not a case of, Oh, I need this bright, shiny, quote unquote, marketing buzzword, no brainer price. It becomes what is the actual, real price that one needs to be.

And then how can I look at the various ways to make it accessible for someone?

Proven proven the model I've gotten through the startup. I have a successful course. I've had some six figure launches. Now it's dialing in systems, processes, teams, and really figuring out what's working. What's not, what do we concentrate our efforts in so we can increase profits. So I'm in a stage where profit is low.

This sucks, but I also have a vision I'm going to get out of it. You know, like I know

Cause I mean, for years, I kind of straddled a lot of client work to get this going. Like I'm

on year four of my business. So the first three years I was burning the candle at both ends, doing both. Then I kind of started leaning more into. Mentorship and coaching. I still do some client work because it lights me up and it keeps me relevant. But it's just been this like process. It didn't just like flip the switch and it all just turned on and all the profits switched to this side of the books. No, no, not at all.

Well, The amount that the range that that goes to is, is absolutely laughable. so I actually call us micro micro businesses, to, to put it into reality that we, can't just like go to the bank and actually get capital. There's not like angel investors are not these kinds of things for us. So for the most part, it runs off of partner money off of debt, right.

And off of us doing other things while trying to do this.

Like client work paid for the course is

basically the reality of

You know, are these things really going on? You know, how are these people buying the tech and, and, Oh my goodness, I need a new laptop. How am I even going to do that? You know, how am I going to buy yet another piece of software? How, how, how, how, how, how? Right. And, and. We get kind of like sold these ideas and these concepts that it can be so easy and that there's such a small startup cost to these businesses.

Right. Now, a lot of people online would be looking at it and being like, Oh my gosh, you're ready to scale. No, you're not. Right.

Scaling sounds so sexy, but that's actually what you do after you have a proven profitable model that you're now ready to multiply. Scaling is exponential and you don't do exponential while you're still running a deficit.

You know, you don't do that while you're still like figuring things out and while you're still working through it. Right. But that, that's not what gets the clicks and the likes and the comments and the, and the, you know, uh, what is it DM me this one word kind of thing that goes around right now. You know,

it's, it's like, no, it's like we're not, we're not ready for that.

to continually produce content. And that's why I said I had to kind of reach into some friends and have them help me.

I had to hire a work group manager who could do some of the live calls without me because I felt so tied to zoom, but the membership model really pisses me off. I think it's complimentary.

And I'm also in this messy middle area where I'm dialing in the process and I am making sure our capacity can handle it. Cause we couldn't before we were broken. Even though I know all about onboarding, it's not. It's not all right. And it's actually fun to dial it all in, but I can't just spend all of my time doing that.

I need help because I do have other channels. So to bring it back, I think a membership is a great complimentary revenue stream, but the people who go all in with them, like, good luck to you. Like, I just don't see it as this like quick overnight thing that's going to happen.

and that's where, where we have to look at the individual and the capacity and the team and the, the longevity, you know, and what are those ultimate goals? Because what, what you have, I bet you, it's something that, um, Works really well and is really fun.

But I bet a reframe away from this word, especially now that you have like all these like emotional tensions tied to it, I bet it would probably feel very freeing and being like, yeah, that's what mine is, you know? And I mean, just already you call it a work group, right? So that already helps,

And so every time I've increased the price, even if it was 10, I was really careful with that decision and how would it affect, affect my community. But there's so much that has changed in the last four years about what VAs are, how, how. You know, that whole buyer's journey we just talked about, like people are very aware and VAs have been around for a while where they're also growing and evolving and they need different things.

And so it's kind of okay to just go with it. And I think my people are more educated and more they're ready for this now, maybe not four years ago when it was also new.

But there's enough kind of crowdsource knowledge and information that, that everything is kind of that, that next notch up, right?

Uh, and, and so it's like, oh, okay. Okay. So what, what, what do we have here? What is now the need of the human? Now, let me figure out. What can I, what should I, what do I want to actually supply for them?

Right. And so is this something that I want to keep doing that I have the capacity for, or should I just kind of bless it, release it and move on?

Yes, they get in. They like the community. They like the trainings, but you cannot deny the fact that people need eyes. On their stuff on, you know, just like you come into my program and teach discovery calls. And you know, we just talked about the work with me pages. People need eyes and feedback and the community can do some of that. There are people who will take time out to respond and engage with each other. So now I'm starting to go back and add more of me back to it. I got to figure out the sustainable way. So how do I, you know, how can I do that where they get what they need and I'm not taxed out and. You know, feeling responsible for everything because that was kind of the point, the sexy part of a low membership was I don't really have to be involved.

And that's not what my people need right now. And so, I mean, I could play with different tiers and price points and whatever, but I also want to keep things very simple.

And the kind of like dreams, aspirations, ROI, that it's your responsibility to implement, but I'm going to give you the information to do it. Right. So it's like, this is where you need to take responsibility and say, Hey, I need help. But these are all the places that we're going to be here for help. Like all of that gets wrapped up into that.

You know, so that way people very much know what they're signing up for and what is spending this money mean, you know, so they're not just hanging their hat on the, by the end of this, you'll be able to do blah, blah, blah, blah, blah, and rainbows and kittens and sunshine and all these things are going to happen.

Right. And, and the more of that feedback can also help you with your process to see, wait, where do we drag? Where do we lag? You know, where do we have something that we need to, to, to dip into and hold onto as well as who is, who are the people that are most likely to get the results? What work are they doing?

Right? So as the seller, we have that, that responsibility and transparency to make sure all of that is there. For all the live events that we do and on our message, like our sales messaging and, you know, talked about in content where we're shouting out the people who've done the case studies. It's like, okay, but these were the things that they did.

This was how they implemented all the work that we provided them. Right.

So like, I mean, you could charge a thousand bucks or you could charge 1 like the, the price, matters in terms of your back end finance part, communication level and the, what they're signing up for and what to expect. All of that carries more weight as far as who will, who can, how do they like sign up for things.

So it's like, you know, what's out there, what can we apply for? What can we help to lift up the community and bring that out there?

They don't understand that the truer power, the thing you really need to grow your service business is the network, right? And like some people just will, will never get it. And then I don't know, it's just, it's just been so interesting. And from a marketing angle, for me, it's hard to sell community. Probably because I didn't know I really needed it back then, but I sure see the power now.

I'm not sure where I'm going here right now, but I have had people never get active, never get involved. And then at some point they're disappointed, you know, not, not by the numbers, but I'm like, well, I know why you're not getting results because nobody knows who you are. We're not referring you. And so many of the wins are from people referring each other, getting inside another business, a seven figure business and turning out and hiring a couple more unicorns and, you know, referring them.

So it's like, Oh my gosh. But I also have gotten to this level, Tracie, where I don't need to convince them,

You know, it's to find synergies and to say, Oh, that's not what I want to do, but I know somebody who does, or, Oh, I love doing this, but I need help. I know somebody I can trust and I know the level that they have been trained and skilled up. So I can bring this person, even if I haven't met them beyond maybe, you know, a coffee date or, or, you know, talking to them randomly in a group training, but I know that, that we at least have this base level of connection.

Right? You know, because it's not a paid job board. You can have those. I mean, hell, you could definitely have one of those for 20 bucks a month, where they just basically get access to a, to a database. And

that, that is

way different, you.

know, that is way different,

Right?

I am not trying to be up work. Like that is not my job. I also have jobs not to be hiring manager. I have seen hiring managers get paid 5, 000 to go be a headhunter and just come into my group, dip in there and pull somebody out. And I'm like, I know that could be its own thing. And that is not a business I'm interested in. And running and so that can be money I've left on the table, but at least I feel good about the pool of people I've collected and then I'm offering and I really care that they. Do their best and know, just know more than the average VA does. So they are exceptional. I don't know. I just have this like deep sense of pride when it comes to work.

And, it's fun. It's fun to connect the dots, grow and learn and nerd out and see marketing in the wild. I mean, that's why, that's why we're here talking on the podcast.

I mean, you've been doing this kind of thing for a long time. Like you started doing like work at home and freelancing and that way before doing like this online stuff.

freedom to say yes, no. And I kind of think in terms of trimesters and the summer is just a trimester, I don't need to be working. I do have four children. I want to have fun with the kids. I am a very involved mom. We're very sporty. Like, I just don't want to be working and spending my time on zoom. So, I pulled out of the client work and that was so scary to lose that base income that covered my expenses.

And it has, you know, challenged me to grow, to self examine. I know I'm not perfect. I can micromanage sometimes and want things perfect, but I'm learning a lot and it actually gives me. Really good contact content and insights that I can pass on to my, my own assistant. So did I even answer your question?

I kind of went off on it on a little tangent right there.

that definition of business owner versus maybe entrepreneur, who's really in the weeds starting. I feel more like a business owner now. Which we are trying to nail some things down. I'm working with my friend and to implement clockwork and be a little bit more systematic. I feel like we're almost there with some things I've been able to kind of pull out of some of the business because I have made some good hires and I'm almost there, but I've really learned to, um, give people the autonomy. And I really want to empower people to do their job. Just sometimes things are still stuck in my brain. Not everything is an SOP yet and not everything needs to be an SOP. There are some things that we, you know, I really love giving strategy and saying, this is what I envisioned. I'll go do it, but sometimes people need a little more context to like what I want.

I was nobody. And that thing has gained me so much traction. I think one of my top blogs is about niches for virtual assistants. I get six, 7, 000 hits a month, right? We can talk about my conversion later, but you know, I have people interested in researching. I have a lot of that early buyer, you know, content. And so I went all in with the blog and it just fell apart because I didn't have the right person managing. It wasn't something I could keep up. It is very time consuming, even with AI. You know, the, the formatting of things, like making sure like the calls to action are right, that

And if you have the right people in place who can offload that, it's. It's amazing. It's like this whole, I'm like getting over the mountain to a whole nother side of business. I know new level, new devil. Right. But at least I'm like conquering this first one.

But I actually, I actually mean it. I've got, I've gone through a lot of evolution, so I mean it.

Well, if it was a finality sort of destination, then that wouldn't. Happen.

So instead it's like, oh, okay, we're over this arc. Oh, okay, now here's another arc. Now here's another arc.

And this has been a goal of mine, but I just haven't, you know, I've been figuring out some of the messaging in the audience, but I haven't been able to tackle that. So imagine when I get that in place and like, just everything is starting to point to the right direction, but I had to go through this and it wasn't, this is why that whole course membership thing is such like, ah, such a.

And so I have had to kind of just massage it along the way, both the membership and the course.

Right? And so then they'll, they'll hit us in these ways and be like, Oh, okay. Oh, well then that's it. Oh, okay. Well then I have to do it. And anytime you hear like words, like the way to do it or only those, that is just marketing BS. It's a way it's an option. yeah.

And if you look at this, this I'll call it a DIY, a DIY, right. But, but your evergreen option for, the, the course. So you can still do your live launch once or twice, and that will probably come with, uh, I'm just guessing here, but I'm going to come to, I'm going to assume that's going to come with like the coaching capacities and the communities and all those kinds of add ons.

Yeah. That the human interaction and support. whereas this other one is going to be the, the, at your own pace, the on demand, the, the, take it whenever you need it. We're here for you. Here's, here's the core consumption. So the work group can still benefit both.

Yeah. Which also means that you can close it to anybody who doesn't have this base knowledge and the prerequisite is the base knowledge, whether it was during a live launch or during a DIY, you know, evergreen consumption.

And so there's been many different iterations

And, you know, be one of those VA coaches. So I, I was being very diligent here and I want it to be, I want it to be accurate, you know, and not inflated numbers and like false promises. And so I have proved it I've gotten there. And I also had to have the team in place. I'm saying it's almost like a gift from God, like going through the team part of this at the same time and ironing out that, because I don't think we could have handled Self study students by the masses last year.

It's not in a fancy mission statement, but that is, that is what's been going on in the background is how can I make this high touch and feel good and not lose my people, but I also need to train them not to DM me billing questions.

Yes. Yeah. But otherwise, yeah. I mean, it's just showing, you know, how, how deep that you care, but to what you were saying about, there's sometimes that people just won't ever do anything with it.

And not from the sense of, Oh shit, false promises, right? Cause that, that would be on them and negative selling behavior. But in the terms of, Oh, I didn't quite understand my question, my problem, my et cetera. Now I'm seeing that this isn't what I want to do. This isn't the, the answer that I was looking for.

right.

So now I'm going to try and go look something else. I am now have, more knowledge as a buyer, so I'm going to be a bit more careful, but it was no fault of the seller. In this case, this was just me not quite understanding what it was I was after and the solution that I needed.

Right? So there will always be a piece of that.

Right? Right? Right. And then you finally get it and you're like, Oh, I am magic. And then you see yourself in like that one warped window, you know, that you walk past and you're like, I look so dumb. I look like I took something out of my 15 year old's closet. What am I doing? What am I wearing? Right.

And we do that ourselves, but it feels harder than it does returning a shirt because it's software. It's a course, it's a membership, it's a program. It's something we're doing for our businesses, right? It's something we're doing for self improvement. It's something that we're doing to try to, you know, There, there's a bit of pride, there's a bit of proving, there's a bit of, yes, we can make this work attached to it.

right?

It's that you randomly picked up at target. Yeah.

I think that would help with like graduation rates. And I'm not saying I have a, don't have a lot of like. refund requests at all, but there are people who don't always move forward. And so, so I let those people off. No problem. But I think there's something funny in this online space to bring it backward.

Like it's, it's amazing what it's going to, what it does for me, right. To bring it back to that question, but I'm just laughing at these. Online promises. Like people show up on TikTok and make it sound like you can be a 75 an hour of EA, like, Oh my God, I'm going to throw up.

Right.

I'm having the most fun. Occasionally I play on Tik TOK. I'm not consistent. I did get to a thousand people. Followers, but I'm not, I'm so not consistent over there. And then, um, I have a free Facebook group too, that's still growing. And if you want to continue the conversation, that's a really good place to hang out and, and, keep talking about it.

So thank you for having me. This has

been so fun. And I felt like it's like slight coaching session

So I'd be happy to share your job that helps me out the most, honestly.

Thank you, Tracie.