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151. Growth Strategies from my Mastermind (Part 1)

The Ecommerce Roadmap · with Shannon Cates · February 21, 2023 · 15 min

Summary

This episode, part 1 of a series, shares growth strategies from a mastermind retreat for 6 and 7-figure store owners. It highlights the value of peer-to-peer knowledge sharing and focuses on the success story of Birdmoss, a subscription box business that scaled to 800 monthly subscribers in under two years by focusing on creating a magical customer experience and removing purchasing friction, offering inspiration and actionable insights for other ecommerce operators.

Key takeaways

Themes

subscriptions & ltvbrand & contentfounder & leadership

Topics covered

subscription box growthcustomer experience designbrand storytellingecommerce mastermind groupsreducing customer friction

Episode description

Last week I had the luxury of escaping winter and going on a 3 day retreat with some incredibly talented, successful store owners. They're all members of my Mastermind Accelerator program. It's a very small group of 6 and 7 figure store owners. These women are already successful - There are 15 store owners in the Group, and the combined annual revenue of the members is close to $10Million. Even though they have learned what it takes to find their audience and get conversions, , different stages of business have different challenges - and we spend our time together working on strategy - to get clear on what each member wants to accomplish this year, and step by step plan to get there. Being in a room with these bright, thoughtful, generous, store owners was like having a panel of experts take a look at your business, and give you feedback and suggestions based on their real life experiences. It was so good. Every one of us agreed that we wouldn't be where we are today without the support of other successful store owners who have shared with us over the years. When I was thinking about how we could pay it forward, I thought it would be amazing if you could hear from the women in the room - in their own voices Meet Shannon Cates: Birdmoss A little less than 2 years ago, Shannon decided to do a hard pivot and close the business that was not scalable and completely drained her energy. She gave herself permission to turn an interest into a passion, and the birdmoss subscription box was born. In less than 2 years, Shannon has 800 monthly subscribers who get a glimpse of a magical world when they receive their box each month. I believe that one of the reasons Shannon has grown her box steadily is how she has removed the biggest barrier to getting a sale - the waiting. Listen and discover Shannon's genius! <a href= "https://birdmoss.com/produc

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Frequently asked about this episode

What does this episode say about subscriptions & ltv?
To scale a subscription business rapidly, fully lean into a unique niche and create a deeply immersive brand experience that resonates strongly with your target audience, as exemplified by Birdmoss's magical world concept.
What does this episode say about brand & content?
Prioritize removing friction from the customer journey, particularly in key conversion points like the initial sale, to maximize subscriber acquisition and retention.
What does this episode say about founder & leadership?
Leverage peer mastermind groups for strategic insights and unbiased feedback from successful store owners facing similar growth challenges. This external perspective can help identify blind spots and unlock new opportunities.
What does this episode say about subscriptions & ltv?
Don't be afraid to pivot if a business isn't scalable or drains your energy. Reinvesting in a passion that's sustainable can lead to quicker growth and greater success, as Shannon Cates did with Birdmoss.

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