578. Lisa Carlin, Growing a Membership Community
Unleashed - How to Thrive as an Independent Professional
Release Date: 06/24/2024
Unleashed - How to Thrive as an Independent Professional
Show Notes: Joe O’Mahoney is a part-time professor of consulting at Cardiff University and a leading authority on the growth and sale of boutiques and small consultancies. He has spent 20 years researching consultancies and interviewing hundreds of owners and senior leaders. He has developed a growth drivers model, which includes factors like leadership quality, client relationships, and market positioning. He conducts benchmark surveys and interviews with leadership teams and clients. Joe then conducts a SWOT analysis, and estimates the valuation of the firm. He helps the owner...
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Show Notes: Chris Freeberg is the co-founder of deck.support, a company that brings some of the best tools for PowerPoint into Google Slides. Chris and cofounder Dimitri Limberopoulos recognized the need for increased functionality in Google Slides as more companies were switching from PowerPoint to Google Slides but wanted a larger variety of tools and functionality for projects. deck.support was launched last month in the Google workspace marketplace as an extension to Google Slides and provides a wide range of tools to increase creativity and functionality that are available for...
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Show Notes: Stephan Meier, a professor at Columbia Business School, is the author of the book "Employee Advantage." He teaches the business strategy core class, which is required for all MBA students. Stephan also teaches an elective on the future of work, focusing on how treating employees and labor interacts with technology and business strategy. Stephan conducts international trips to African countries, such as Ghana, South Africa, and Kenya, to provide students with international experiences and perspectives on businesses, strategy, and different environments. His focus is on putting...
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Show Notes: Dori Yona, founder of Simple Closure, explains the process of shutting down a company. The process is painful, manual, and bureaucratic, with an average time of nine to 12 months. It can cost companies thousands of dollars or even hundreds of thousands of dollars in fees. Many companies end up doing it incorrectly, leading to fines and penalties. The Multiple Moving Parts of a Business Shut Down Dori explains that the main difficulty in shutting down a company is the coordination of multiple moving parts, such as the state of incorporation, IRS, lawyers, accountants, payroll...
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Show Notes Jacob Bank, founder and CEO of Relay.App, talks about the rise of AI agents, a type of chatbot that can work on your behalf in the background. He explains that AI agents can perform tasks similar to junior-level employees or interns. How AI Agents Work An example of an AI agent working on your blog post is Chat GPT, which can automatically draft a blog post about a new recipe. The agent may ask for feedback and then publish it for you. This makes AI agents less of a thought prompt partner and more like an intern who takes on a mission on your behalf. There are two ways AI...
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Nikola Lazarov is the co-founder and CEO of Eilla AI, a tool that provides AI workers for private market intelligence. Nikola is an AI engineer who started his career at a London-based hedge fund, Marble Bar Asset Management, where he worked as a quant. He realized the value of AI in structuring unstructured data for private companies and decided to start a company almost three years ago. What Eilla AI Does While Nikola mentions that their target clients are investors and investment bankers, Eilla AI's tool does various tasks, such as finding competitors, analyzing their USP, target market,...
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Jeff Sinclair, a senior global leader at McKinsey, discusses the history of operations at the firm. The firm was initially known as a strategy firm and did some organization and marketing work. However, in the 1980s, clients began to draw more attention to operations, particularly in the automotive industry in Europe and North America. Operations became a strategic function for automotive OEMs and part suppliers, as they needed to serve their customers with high quality, cost-effective, and operationally effective services. Operations Practice at McKinsey When Jeff joined the firm in 1981,...
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Show Notes: Anne-Laure Le Cunff, author of Tiny Experiments and founder of Ness Labs, shares her approach to understanding her own life and why she does things the way she does. Anne-Laure explains that self anthropology is a powerful tool for problem-solvers and doers to understand their own lives and prioritize their priorities. By embracing uncertainty and turning it into curiosity, individuals can overcome procrastination and achieve more in their lives. She emphasizes the importance of self-anthropology in helping people become anthropologists of their own lives by observing themselves...
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Show Notes: In this episode of Unleashed, Will Bachman interviews Harsh Sahai, CEO and co-founder of Bridgetown Research, a company that has built an AI tool and he talks about it in this episode. Harsh previously worked at McKinsey, where he focused on commercial due diligence. He also ran a machine learning lab at Amazon, where they researched sequential decision-making algorithms. AI Pricing Algorithms and Convex Optimization Harsh talks about his work at Amazon where main use cases were pricing products, as people tend to remember old prices and make decisions based on what they...
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Show Notes: Jim Ettamarna, a renowned expert in commercial excellence, defines it as incorporating commercial efficacy and efficiency. He believes that there are two key branches to drive down in this area, and it holds tremendous potential for clients and organizations. Jim's framework for commercial excellence is value creation, which involves understanding market demand, go-to- market models, market growth, and demand trends with a focus on each specific industry. A Six Sigma Lean Framework Jim uses a lean framework, starting with Six Sigma, to standardize the right work and ensure...
info_outlineLisa Carlin, founder of Future Builders Group, discusses her experience in consulting and the need for a more passive income stream. She has over 50 strategy execution projects and programs that focus on business strategy, project management, and change management. Lisa believes that achieving scale in these areas requires changing the focus of the business and execution messages to what is important to the culture. In this episode, Lisa talks about developing and running a membership community.
Building a Subscription Business
The TurboCharge Hub membership offers a platform for functional experts to learn how to develop and execute strategies. The group is currently launching its own website called TurboChargers.com, and she meets with members twice a month on Zoom. One of the biggest lessons learned from her experience is the importance of understanding the client's pain points and tailoring their solutions accordingly. As people join, Lisa learns about their ideal customer profile and their biggest pain points, which allows her to provide key messages to the market.
Lisa also shares her lessons learned from her own experiences, such as being clear on the ideal customer profile and understanding the key message. By learning from her clients and focusing on their needs, she hopes to help others build their own successful memberships.
Key Steps in Recruiting Members for a Subscription Business
Lisa shares how she built a following, which included learning more about building a strong brand, and reaching out to B2C and B2B communities. She started doing podcasts, signing up for conferences, and having a lead generation machine set up on LinkedIn. This has been effective in growing her LinkedIn profile and inquiries. She met with people she knew would sign up. The next phase of people signing up was people who heard her on a podcast or at a conference. The audience is mostly business leaders, CEOs of medium to large organizations, and entrepreneurs with a strong innovation flair. Lisa has also learned to hone her writing skills and set up a newsletter. The community now consists of 7300 people, mostly CEOs of medium to large organizations and entrepreneurs.
Working with a Podcast Agency
Lisa discusses their experience with a podcast agency and the results she has received from it. She shares information on fees and services, which involves developing a podcast profile and reaching out to potential clients. The agency also offered the opportunity to choose the podcasts she wanted to produce and post them on LinkedIn as native content and as YouTube clips for their YouTube channel. She also mentions that she has not considered offering a special discount code for listeners of the podcasts, but she is interested in taking on affiliates to distribute their software. She is also interested in partnering with consultants to help spread the message that understanding culture is essential for success.
The Benefits of the Digital Funnel
Lisa shares her experience with the digital funnel and the benefits it provides. She has a cohort of about 40 subscribers, some of whom are clients and colleagues, and some are paying members. She uses Tekmatixs software, based on a system called Lead connector, which includes an education platform. The platform allows users to sign up for a newsletter, access a lead magnet, or resource, and eventually become paying members where they can access the modules, master classes, and playbooks of frameworks. The system also includes access to Tekmatixs, which is an affiliate link for those interested in trying the system. Group coaching sessions are also available for users to take and participate live. Lisa also shares her experience with email marketing and conversion rates.
Lisa discusses their experience with a podcast agency and the results she has received from it. She shares information on fees and services, which involves developing a podcast profile and reaching out to potential clients. The agency also offered the opportunity to choose the podcasts she wanted to produce and post them on LinkedIn as native content and as YouTube clips for their YouTube channel. She also mentions that she has not considered offering a special discount code for listeners of the podcasts, but she is interested in taking on affiliates to distribute The Turbocharge Hub. She is also interested in partnering with consultants to help spread the message that understanding culture is essential for success.
The Benefits of the Digital Funnel
Lisa shares her experience with the digital funnel and the benefits it provides. She has a cohort of about 40 subscribers, some of whom are clients and colleagues, and some are paying members. She uses Tekmatix software, based on a system called Lead connector, which includes an education platform. The platform allows users to sign up for a newsletter, access a lead magnet, or resource, and eventually become paying members where they can access the modules, master classes, and playbooks of frameworks. The system also includes access to Tekmatix, there is an affiliate link for those interested in trying the system. Group coaching sessions are also available for users to take and participate live. Lisa also shares her experience with email marketing and conversion rates.
Becoming a Speaker at Conferences
The conversation turns to getting booked at conferences and identifying potential speaking engagements. Lisa finds that it's easier to pitch her content when people are in a defined niche, such as change management or AI. She also participates in mastermind groups, where she speaks to 15 CEOs at a time and shares her material with the group. This process helps build reputation and attracts more subscribers. She discusses the various conferences on functional areas such as strategy and project management culture and mentions that industry players and executives typically attend industry-focused conferences, such as the auto industry or waste management conference. She mentions that there are various industry associations, such as marketing and finance associations, that focus on project management and transformation, and virtual conferences that offer virtual speaking opportunities.
Lead Generation Success
Lisa shares how she has gained 7,000 subscribers on her newsletter. She mentions SkyLead, a tool that can target a group of people who have commented or liked a post. She shares results on a tactic where she received a 72% rate on connection requests. She has also used SkyLead to send connection requests in three different ways: direct email, direct connection request, and in-mail messages and she shares the results. She also mentions that the messages are incredibly sensitive to the length of the connection request, which can sometimes lead to a 10% decline in response rates or acceptance rates by adding three words. She concludes by emphasizing the importance of short, concise messages in connecting with people who have commented or liked her posts.
Lead Magnets and Email Strategies that Work
Lisa shares her experience with experimenting with different methods, such as sending lead magnets or emails, which had varying degrees of acceptance. One example was sending an email message to someone who agreed to subscribe to her newsletter, which she found to be more effective than sending a direct message. She also mentions a passive approach to managing connections.
Her goal is to provide value to her connections and make it easy for them to unsubscribe if they want to. She talks about the platforms she uses to increase the number of connections and convert them into subscribers. She also emphasizes the importance of providing value. SkyLead allows users to send connection requests, emails, and both free and paid in-mails. It also offers a built-in algorithm to ensure that messages are only sent to people who have not been previously connected with the platform.
Timestamps:
06:06: Marketing and growing a membership business for functional experts
12:18: Podcasting for business growth, with a focus on strategy execution and culture change.
17:42: Digital marketing funnel for education business
24:22: Growing a community through newsletters, conferences, and mastermind groups
30:53: Speaking at conferences, lead generation, and newsletter subscribers
37:04: LinkedIn automation tool Sky Lead, with 72% connection request acceptance rate
43:46: LinkedIn connection requests, email newsletters, and automation tools
50:42: Using LinkedIn's Skylight system for automated messaging
Links:
Website: http://www.futurebuildersgroup.com/
CEO Guide: Boost Your Productivity with AI Tools for Strategic Initiatives: https://learnadmin.futurebuildersgroup.com/grab-your-ceo-guide-boost-your-productivity-with-ai-tools
5 Future Trends in Change Management https://learnadmin.futurebuildersgroup.com/grab-your-5-future-trends-in-change-management
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Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.