Make 1MYear Collecting Trash
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Make $1M/Year Collecting Trash

ByAI Alex

Summary

  • To build a million-dollar trash business, I use $40 as the monthly fee, which is about $500 a year per customer.
  • To reach a million dollars in revenue, I need 2,000 customers paying monthly.
  • Understanding the churn rate is crucial. If I enroll 200 people per month, but have a 1% churn rate, I lose 2 customers monthly.
  • If the churn rate jumps to 10%, I'd never reach my goal because high churn limits growth potential.
  • The secret is to offer services that people don't want to cancel, which controls churn and builds a lasting customer base.

Video

How To Take Action

I would suggest implementing strategies that focus on signing up and keeping customers for the long haul. Start by making your service so valuable that people don’t want to leave. Ask yourself: What can I add or improve to make my offering irresistible? Maybe it’s great customer service, little extra perks, or even creating a community around your product.

Think about how you can communicate the value of what you offer. Make sure your customers really understand why they should stick around. Use simple, clear messages and always highlight the benefits.

A good way of doing all this is by tracking your churn rate closely. Know how many customers you’re losing each month and figure out why. Conduct surveys or ask for feedback to identify areas where you can enhance your service. If the churn rate is too high, focus on fixing those issues immediately.

Also, aim to bring in more customers than the number you’re losing. Create a consistent strategy for attracting new customers. Maybe try out some low-cost marketing strategies—like social media campaigns, referral discounts, or community events—to reach more people without spending too much.

Lastly, remember, keeping existing customers is just as important as signing new ones. By maintaining your churn rate at a low level, you create a stable and growing business. Keep innovating and iterating on your service to keep it fresh and engaging for your customers.

Full Transcript

let's talk about what a million– dooll trash business looks like based on what we've seen from industry averages 40 bucks a month is what I'm going to use so 40 bucks a month is roughly $500 a year now if I have $500 per year and I want to have a million dollar business then how many customers do I need I would need 2,000 clients or customers to be paying me on a monthly basis then all I have to do is figure out what my turn rate is and how many customers I need to sign up so let's just say that we sell on average 200 people per month okay well if we're turning at let's say 1% per month that means that we're going to lose two people month one here's where it gets kind of wild this number let's say we're 10% I would literally never get there because all you have to do is divide 200 a month by your turn rate and you get your Max and so the key to everything is find stuff that people don't want to cancel

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