Rethinking ROI with Sydney BassApr 19, 2022
If you have ever felt disappointed from the initial ROI of an investment, you want to listen to today's episode. I am sitting down with a former client of mine, Sydney Bass, who is the founder of The Profitable Stylist brand, helping stylists create their signature service so that they can scale their styling business and we’re talking all about the ROI of us working together, and the long term ROI that she has seen in her business as a result.
Sydney and I worked together about a year and a half ago as she was launching her signature program. We worked together to build out her launch asset, really refine her messaging, and re-launch her program in a way that was going to be better than launches previously. But her initial ROI on that investment was not what she expected, she did not see significant improvement on her previous launch. If you have ever invested in a coach or done any kind of coaching program, you may resonate with that icky feeling of disappointment when you don’t see the results you were hoping for that all too often turns into buyers remorse. About a month ago, Sidney showed up in my DMs (after about a year since speaking with her) and she was doing the math of how that investment with me had paid off over time. Not only did she make back her initial investment, but because of the work that we had done together, it had paid off dividends over time. So shifting the way that you look at ROI, the return on an investment is going to be a powerful way to look at investments that you've made in the past, as well as taking into consideration with investments that you're making in the future. So in today's episode Sydney and I really dive into that experience as well as a different way to look at ROI.
Initially, Sydney did the hard but necessary work of shifting her mindset surrounding launching, specifically releasing attachment to the outcome. But when that first launch ended in disappointing results, it was time to go back to the drawing board. “One of the biggest things if I kind of look back was just really understanding my framework that you and I worked on and like really understanding Oh, wait, my people want to make money. They don't necessarily want business basics, right, which is kind of how I had been pitching it. And so I had to sort of get out of what I thought they wanted and just like straight up talk about the thing that I know they need right, which is profitable and to make money.” Through that shift, Sydney was able to take her messaging from too general, to the hyper specific focus needed to speak to her ideal client.
After another launch trending in the wrong direction, Sydney doubled down on her efforts to fine tune her framework and went back to basics offering 1:1 coaching. And something changed. She started seeing immediate “hell yes!” signups, and the students kept flowing. After some trial and error with price alignment Sydney walked away with a fully built out beta group and a ton of testimonials. “The work and that, for me is just to be patient and like present in the now. Right? If like, whatever's happening right now, is exactly what needs to happen. Sometimes I do it with like, a little bit of an eye roll. And I'm like, alright, that's fine. But it's definitely the like long term return on investment from when we work together. A year and a half ago. Is that, like, I've seen that financially and with clients and the business and how it's structured. It wasn't like an immediate, yeah. Which is like, I think what, obviously people want and expect, right? And I even kind of had to think through Well, what were my returns, right? Like realistically, and I was running numbers, and I was like, oh, yeah, I did. I like made all my investment back. I've made more like it's making me more as I go. The timeline was just my timeline, which was a year.”
Connect with Sydney on Instagram @TheProfitableStylist and @SydneyPageBass, sign up to be the first to know about her next launch at The Profitable Stylist website, and tune in to her podcast The Personal Stylist Podcast wherever you get your podcasts!
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