Hello my friends, welcome to episode number 155. I am your host, Becca Pike, and it is time for your weekly dose of Hell Yes Coaching.

Hey, guys. I’m Becca Pike and welcome to The Hell Yes Entrepreneur podcast, the number one show for entrepreneurs looking to create their first six-figure year. If you’ve got the drive and you know how to hustle but you’re not sure where to channel your energy, we’ve got the answers. Let’s dive into today’s show.

Hi, friends. Oh my God, it is so springtime here in Kentucky. I don’t know about you, but I realized every single spring how fuckin depressed I was in the winter. I never know it in the winter. I never know it. I’m always like I’m fine. I’m fine. I’m fine. Then the sun comes out, and I’m like I was not okay. I wasn’t okay. I don’t know how I did it. 

It was really helpful this year, though, that I went down to the south. I went down to Florida twice. I think I went in January for the Thirty More Mastermind, spent some time with my toes in the sand and getting some sun. Then I also went in February, just with my family. So I got to warm my bones a little bit. 

But Mark and I turn into totally different people in the spring and summertime. We’re very outdoorsy people, but like I don’t think I can even tell you how happy we are like. This is what our life is when the months get warm. Okay, so let me just paint, let me just paint a picture for you. 

We don’t really abide by any schedules when it comes to work. Like we kind of just work when we want and on the days that we want. Basically, if we can get a few hours of work done each week, it doesn’t matter when we do it or how we do it. So, every day we wake up real slow. We get the kids to school on the weekdays, and we come back and the sun’s shining, the birds are chirping. It’s morning time. We cook a slow breakfast. We sit and drink our coffee outside in the sunshine. 

Mark usually start some sort of project. He’s always landscaping. He’s always like mowing, weed eating, fixing the fence lines, fixing the fire pit. He’s like burning brush. It’s funny because it’s like we have a farm but we’re in the middle of the city because we have this like freaking forest on two acres. 

I don’t know if you guys have ever had a forest but like a manicured forest is a lot of work. It’s not like we just let our forest overgrow. He manicures it. It is all weed-eated. We have over 300 trees just on two acres. So he is always outside doing work. 

When he goes off to do his work, I usually go on a really long walk with one of my friends. I come back. I might go to the grocery store, grab some salmon or some steak, throw it on the grill. We usually come inside, eat lunch together, chat. We might walk to Luna’s, which is this little coffee shop down the street. We can just walk to it. Have ourselves some coffee, walk back home. Our kids get off the bus, and we usually like burn some sort of bonfire and have s’mores and just spend even more time outside, and that’s our life.

We love it so much. We often have a lot of friends over on the weekends when it’s warm outside. But we don’t really do a lot. I feel like we’re really old, old, old people that just, I think okay, this is what it is. I’m coming up with a theory right now. We’re retired. 

We are retired, and we do what retired people do. We’re like in bed by 8:30 every single night. We’re up early drinking our coffee. We putter around the house like old people. We drink multiple cups of coffee a day, just relaxing and hanging out in the sun and puttering around the yard. I’m like putting out my flowers and watering my flowers all the time, and we’re just 100 years old. That’s what I’ve decided. Anyway, spring is here. I digress. So happy. We are definitely summer babies. 

But that is not what I’m coming to talk to you today about. I am coming today to talk to you about your RMR. What is RMR? Recurring monthly revenue. So I know I’ve got a lot of podcast listeners out there. Some of you guys are lactation consultants and coaches. I know that there’s paint companies, house cleaning companies. We could go on forever, massage therapists, all different service based industries. 

I don’t know if you guys have noticed, but the world is leaning towards memberships and recurring monthly revenue. Have you guys noticed that like Panera has a coffee membership? Have you noticed that there are memberships at Fabletics and Athleta? You can have a membership at Whole Foods. There’s memberships everywhere you turn, and for good reason. It’s a phenomenal business model. 

It’s just one of the ways to increase your recurring monthly revenue. So let’s talk a little bit about what this is, how it looks, what it looks like for me, and how it worked for you. 

So when you start a business, a lot of times you just sell your service. If you sell your service, you get paid, right. If I’m a massage therapist, I have to get you to choose me as a massage therapist so that I can massage you so that you can give me money. That requires a lot of effort. Then the next month comes around, and I have to talk to you about choosing me again to come in and get a massage so that you can pay me when I give you a massage. 

So every single transaction that we have ever had is me taking the effort to sell you into coming in and working with me, okay. It’s the same in almost every service based industry. This is the way that I provided all of my services in all of my companies forever. 

It is also the way that I provided my services in my coaching company, in my online company. So I for a long, long, long time only got paid when someone chose to take a class with me or when someone chose to buy into one of my coaching packages, okay. But it required a back and forth transaction, where I’m talking to them selling to them, they’re buying. I can’t necessarily do it just in my sleep. 

It wasn’t until a few months ago, it was really when we bought our last brick and mortar business, and it was running on a membership that I was like holy shit. Memberships are where it’s at. 

So I wanted to get to a place where I didn’t wake up every single month, and I was at zero for revenue, right? It was like a light bulb went off. Like what if I woke up every single month, and there was already people on some type of membership or some type of payment plan that would allow me to start the month off at $5,000, $10,000, $40,000 so that I didn’t have to continually do the same transaction every single month? Okay, I don’t want to get into my DMs and sell someone into coming into one of my classes and then to sell them again the next month on coming into one of my classes and then sell them again on coming into one of my classes. 

So I learned a lot from the yoga studio having a membership model. The yoga studio has a shit ton of members. They all pay monthly because it is a gym. Every gym has some type of membership model. So at the start of every month, like 80% of our sales were already in the bag. They were already members that agreed that they wanted to continue to work out with us throughout the year. 

I started working on how to change the recurring monthly revenue in my coaching company next. So in my online company, I started offering a membership model. I started offering payment plans. When I started working on this a few months ago, I had a recurring monthly revenue of about $19,000 a month. That was only like 20% of the people that were paying me monthly. Everybody else was not on any type of payment plan or membership. 

So my team and I got together, and we started moving people towards a membership or towards a payment plan. In just a few short months, we have gone from 19,000 in the coaching business to something like $50,000 a month every single month. Then all of my companies together, we’re close to $100,000 of revenue per month without selling a single new thing. We just wake up on the first, and we’re at almost $100,000 of just recurring monthly revenue. 

Think about your industry. I want you to really stretch your mind here. Memberships are not just about being a gym. Gym memberships are as oldest time, but I want you to see a bigger picture, and I want you to see a more advanced picture of where we’re going as a society. 

How can your business have a membership or have recurring monthly revenue or have payment plans for what you already have? How can any industry on the planet have a membership or recurring monthly revenue? How can an interior designer have a membership? How can a lactation consultant have a membership? How can a paint company have a membership? How could a window washing company have a membership? 

This is a great example. Window washers, listen. Somebody in Lexington please start a window washing membership. I don’t want to call you back in eight weeks when I want my windows washed again. I want you to just show up at my house. I want you to just show up, clean my windows, and draft my account because I’m part of some sort of membership. 

I’m in a membership at my dentist’s office. Okay. I’m in a membership at my dentist’s office. So like I pay a small fee every single month for a whole year, and in that year I get 50% off of all of my cleanings and 15% off of all other services because I’m a member. I also get priority scheduling, right? Like it has already paid for itself a thousand times over, and it keeps me locked in at the same dentist. It’s freaking genius. 

Okay, what about a CPA or a bookkeeper or a coach, massage therapist, house cleaner, dog groomer, right? These are all businesses that are absolutely built perfectly to have a membership, to have payment plans, to have recurring monthly revenue. So I want you to really hear me when I say memberships and recurring monthly revenue have absolutely changed my life. 

So there are some months now where I don’t want to get on social media and sell my face off. I know that there’s about $100,000 coming to me without me having to sell whatsoever, without me having to talk whatsoever. So what if that happened for you? What if that happened for you? 

Now, I don’t know where you are in your business. Maybe you’re someone that makes about $3,000 a month. What would it be like if you had $3,000 a month coming to you no matter what every single month because you decided to go towards memberships, because you decided to play around, to change up your business model, to have fun, to allow recurring monthly revenue. 

This is where my, I’m just going to give you a quick snapshot of where my revenue is coming from in my coaching business. So in the yoga business, and then, of course, we’re going to have memberships at Massage Strong, these are pretty straightforward. You’re going to pay a membership. There’s different tiers in which you can have your membership. You can have like a silver package, a bronze package, a gold package. But these are ways that you can pay for massage. You’ll be in different tiers. It’s pretty straightforward. 

But in the coaching company, so we have a Mastermind called Thirty More, which you know all about. I’ve been talking your ear off about it. It is one of our highest ticket but also most popular services. So you can buy this, and you can pay almost like a membership where it’s a payment plan where you’re only paying X amount of dollars per month. So a large amount of people that come into the Mastermind are paying monthly. 

So every single month, I get those payments as well as the people that are paying monthly to be in my membership, The Circle, which is about $888 per month. Then on top of that, we have people that are paying for classes as well as one on one coaching. All of this equals out to the about $50,000 per month. 

So for you, I want you to take a second. I want you to just first of all think about what your life would be like if you woke up on the first of every month and that month had already made whatever it is that you make in a month without you having to sell a single thing, without you having to write a single email, without you having to write a single post. It was just already there because you chose to turn your business model into a membership business model. 

Tell me how amazing that would be. Tell me what your life would be like if it was springtime at your house. You and your husband got to just pitter patter around the house all day because you have scaled and your business is on a membership. You are just making X amount of money before you even start selling. Then from that baseline, you get to create as much money as you want based on how much you want to sell.

Now, if you’re listening to this, and you’re like this is not for me. My industry doesn’t do memberships. Your industry does do memberships. Your industry could kill it with a membership. Okay, your business could kill it with a membership. Your membership doesn’t have to be a whole year. Your membership can be a three month membership. It could be a six week membership. It could be a two year membership. It could look however you want it to look. Here’s the rules in memberships, there are no rules. It’s amazing.

So listen, guys, I have built memberships from zero to $100,000 months. Okay, I take that back. I didn’t build the Sterling memberships. We bought those. But zero to, what, we’re at $50,000 months in memberships in the coaching company. Then as soon as we turn Massage Strong into memberships, it’s going to be even more from that. So I have built some bomb ass memberships. What’s even more fun is I have helped a lot of my students build a really bomb ass memberships despite what industry they’re in. 

In May, I am dropping a Memberships Masterclass where I’m going to be teaching you exactly how to build a profitable membership. Let me tell you something, it’s actually going to be a lot more simple than you think. It is going to be so fun. I’m going to teach the whole thing in two days. There will be no leaf unturned on how to build your membership. 

We don’t have the dates yet for this masterclass. But if you want to get on the waitlist for the Membership Masterclass, I want you to email Gigi at [email protected] and just say waitlist me for the membership class. 

Before we go, I want to celebrate a couple of the people in my Mastermind. As you guys know, the deadline to join my Mastermind is on May 5. You guys, this last round, we had some really badass people. So here’s four random accounts. These are not reflective of the most successful people. This isn’t reflective, this is honestly just the average to lower average when it comes to what we see in change in revenue month over month. But I’m just going to give out a few shout outs. 

Student number one who owns a dog boarding business, he’s in his second year of business ever. When he came to me, he was averaging $9,000 a month. He started in January inside of Thirty More, and in January, he made $9,000. In February, he made $11,000. In March, he was at $14,700. He’s telling me that April is going to be his biggest month yet.

Student number two also works in the dog industry. That’s a coincidence, but she owns a traveling dog grooming business. Okay, this is a fun one. In 2023, she averaged $11,600 a month, and she joined the Mastermind in January. In January she made $20,300. In February, she made $19,700. In March she made $19,200. She just told me that once April is complete and finished, she’s looking at it being around 24,000 freaking dollars. Guys she averaged $11,600 just last year, and we’re talking about $24,000 in a single month. So huge congrats to her.

Student number three who is a speech therapist. She averaged $4,100 a month when she came to me in 2023. She joined the Mastermind in January of ‘24. She has already seen these numbers for January, February, and March $4,200,  $6,300, and in March, $9,500. She said that April is going to be her biggest month yet. So she went from $4,100 a month in 2023 to now seeing close to $10,000 months. 

Last one, last but not least, okay, but this one’s a fun one. This is her second year in a row working with me. She began working with me. She’s a lactation consultant, began working with me at $5,000 a month. Within the first six months, we got her up to $10,000 a month. So we doubled her monthly revenue. Then she left the Mastermind for one round, and she said that she noticed a dip in her sales. 

So she came back in January to hammer home her biggest year yet. So in January she made $22,000, February $20,000, and in March $23,000. This is the same girl that was making $5,000 just last year.

So here’s the deal guys, I’m going to be honest. If you own a business and you’re not in my Mastermind, what are you doing? What are you doing? What are you doing? Deadline is May 10, you guys. If you want to double your business and you want to work less than you’ve ever worked, you want to have more money than you’ve ever had, you want to work less than you’ve ever worked, and you want to enjoy your freaking life, you do not want to miss this window.

So May 5, deadline to come to Chicago. You can buy your ticket ala carte. Or if you’re in the Mastermind, your ticket is included. All you’ve got to do is apply at hellyescoachingonline.com. See you guys. 

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Hey, thanks for taking the time to listen to today’s episode. If you’re looking to get more clarity and momentum for your business, visit hellyescoachingonline.com. See you next week here on The Hell Yes Entrepreneur podcast.