053 Starting your subscription box business, with Lauren Prentice
Making Money Online with Lisa Johnson
Lisa Johnson
5.0 • 567 Ratings
🗓️ 6 June 2022
⏱️ 21 minutes
🧾️ Download transcript
Summary
Today we're talking all things subscription boxes which have seen a huge boom in popularity over the last few years.
Joining me is subscription box expert, Lauren Prentice - a serial entrepreneur who was the first person I saw in the UK to create an outstanding subscription box service and has gone on to become a leader in this space and now teaches others how to launch a successful subscription service.
What You'll Learn In This Episode:
- How Lauren identified subscription boxes as an area of growth during the lockdown and a business that could be pandemic proof, provide reoccurring revenue and become a passive income stream once established.
- Some of the common mistakes people make when launching a subscription service, why finding your niche is so important and why your product should always be solving a problem for your customer.
- Lauren shares her personal experience as a female business owner with ADHD and the impact it's had on running her business and how she finds success in whatever she sets her mind to.
- Why growing your audience is vital in a subscription box business because as Lauren highlights in today's episode, if you look after your audience, they will look after you.
Resources:
- Download my FREE Launch Strategy Guide-
- Visit my website www.lisajohnson.com
- Follow me on Instagram @lisajohnsonstrategist
- Follow me on Facebook @lisajohnsonstrategist
- Join the discussion at @thefabulous5percent
- Subscribe to my YouTube channel
- Today's episode is sponsored by Nicola J Rowley PR. You can find all her services at www.njrpr.com
- The Business Box www.thebusinessbox.co.uk
- Join Laurens' Facebook group So you want to start a subscription box?
Transcript
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| 0:00.0 | You're listening to Making Money Online with Lisa Johnson, the podcast that tells you what it really takes to build a business and the simple steps to get you there. |
| 0:12.6 | I'm determined to share with you the reality of easy, simple business marketing tips to make passive income so that you can start making money online. |
| 0:22.6 | Making Money Online is sponsored by Nicola J Rowley PR, |
| 0:26.7 | helping entrepreneurs and brands get visible through strategic storytelling. |
| 0:30.8 | If you're serious about being seen and impacting the lives of others, |
| 0:34.4 | harnessing the power of PR is the best way to grow and scale your business. |
| 0:38.9 | Visit NJRPR.com for more details and read Nicola's bestselling book, The Power of PR. |
| 0:47.0 | Hello and welcome to this week's episode of the podcast. Today, we're going to be talking about |
| 0:53.3 | all things, subscription boxes, |
| 0:54.9 | which is so big right now. And to do that, I've pulled in, obviously, the expert on subscription |
| 1:00.2 | boxes with Lauren Prentice. So Lauren is actually a serial entrepreneur. I've known Lauren, |
| 1:06.4 | as she has been doing lots of, lots of different types of businesses. But she was also the first person that I saw to do a subscription box really well in the UK. |
| 1:18.8 | And she has become the expert. |
| 1:21.0 | Everybody now comes to her to ask her about how to do subscription boxes because she does it so well. |
| 1:26.0 | And she hasn't just done one. |
| 1:28.8 | She's done a few. |
| 1:33.4 | And we'll talk about that. So welcome to the podcast, Lauren. Hello. Thank you for having me. |
| 1:39.3 | No worries. I want to ask you, like you already had some businesses. You were doing really well. |
| 1:45.3 | You know, you're already at seven figures with some of your other businesses. What made you then decide to start a subscription box in the first place? So in short, COVID, because being a sort of serial entrepreneur, |
| 1:53.7 | having lots of businesses, I really thought that nothing would kind of shake at least one of them. |
| 1:58.1 | You know, there would always be one that would continue thriving until we were thrown into a global pandemic. So I started to look around at which industries |
| 2:07.5 | were, A, growing and B, pandemic proof, to be honest. And actually, everybody was all doing |
... |
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