How did a mom-and-pop shop earn at least 1000W+ last year with less than 10 people?
Today, let's dismantle a case of a mom-and-pop shop that "earned money while standing". Maverick and interesting. You may say, why dismantle a mom-and-pop shop, how high-end is it?
But whether it is high or not, I don't count it, it doesn't count if you say it, whether consumers are willing or not, whether they buy it or not.
From this point of view, the husband and wife duo have done a good job and can be called a benchmark. If, in the future, I am also you, then this case is well worth seeing.
1. Background of the case
This is an English IP that is not very out of the circle, not as well-known as Sydney, not as dazzling as Yang Jiacheng, and not as sinking as Grandma En.
I went to manually search and find it when I listened to the trader behind this IP.
This is a mom-and-pop shop, the husband is in charge, the wife is doing IP, and they will earn at least 1000W+ in 2023, and the number of people in the company is less than 10. According to traders, in 2024, it will continue to reduce the scale and increase profits.
As an educator & entrepreneur, I think he has thoroughly understood the gameplay and essence of online education, especially understands cost calculation, understands what he wants very well, and dares to make trade-offs, for example, not to be a giant.
How tiring it is to be a giant, you must always be vigilant against being hacked by your opponents, being reported, being monitored, being cautious in marketing, trembling in promotion, and sometimes you will be pulled off the altar for some reason, not to mention far away, such as the recent Nongfu Spring.
When I operate projects in the company, I especially hope that the company will become bigger, listed, and preferably become a giant, because in this way, it will greatly satisfy my vanity and facilitate it to be used as an endorsement when I start a business in the future. Take a look, big factory, look at this team, the scale of the project, look at ~~
However, when I am running this small broken company now, I hope to be smaller, slower, and more stable, and it is better not to become a giant, I want to be the top in the industry, but I don't want to be the biggest one, but I want to be the most special one.
At this point, this IP can be called my learning benchmark.
2. Case dismantling
Actually, the business model is simple, right?
I think a successful business model must be simple. On the contrary, we must be vigilant.
It's just that the human heart is too complicated. And many people always like to use marketing branding to solve problems that they need to solve with social psychology.
It's only going to get more complicated.
So let's disassemble the uniqueness of this IP.
(1) Weakening the public and private domains, and where there are people, there is a place where commerce and business exist.
This point, if you dare to persist and continue to do it, it is worthy of praise. Online education has always been played like this, to the knowledge payment industry. Oops~
Every day, countless new words are coined to demystify people's minds. Why do you have to make up words? Because you have to be strange to catch people. However, it is one thing to say and another thing to do.
What is the public domain, what is the private domain? Aren't there people behind the label? It's just a matter of how you use your grip to find your crowd.
Why do you have to advertise and monetize in the private domain?
(2) Extremely reduce marginal costs, pursue profit maximization, and pursue customer benefit maximization.
I briefly introduced the marginal cost in the super high customer order product system, and here is a comparison chart for you.
As can be seen from the figure, the expansion of scale does not equal the increase in profits, and the increase in traffic does not equal the increase in profits.
To do business and open a company, in addition to solving customer problems and creating value and benefits for the society, it is more important to make profits. Because only when there is profit, can we survive and continue to operate.
Therefore, this IP currently has a matrix of millions of fans on the whole network, and the goal of the whole team is to condense to 6-8 people. What their traders say is that if they don't get bigger, they won't die so fast, and if they don't get bigger, they will focus on core customers and continue to provide core value.
In this regard, I agree with it.
(3) Know the trade-offs, and implement the trade-offs to the extreme.
In the past, I felt that I was unruly enough, and the team I brought out was already very tonal, and I could already do it without kneeling and licking users, which was completely different from competing products.
But it wasn't until I found out about their sales that I found out that "there are mountains outside the mountains, and there are heavens outside the sky".
With such a diao sales and customer service, I can still survive and achieve an annual income of 1000W+, which is the first time I have seen it.
The last time I saw an unknown fly restaurant, the boss ignored it, I just left, what's the matter, I left Zhang Butcher and ate hairy pigs?
But, theirs, show you. The following is from their circle of friends, which accounts for 90% of the total content of the circle of friends.
At first I thought it was reverse marketing, but then I found out that it wasn't~~
Na, this is a small tearing scene of their IP and netizens on the public domain. The aura is so strong that I, a person who is not good at scolding and quarrelling, is careful about taking screenshots, for fear of warning me with a lawyer's letter. So, I'm going to develop lewdly, let's weigh it.
At this point, I suddenly found that I was still hunched over to make money from projects, and only they were worthy of "standing and earning money"
3. Clear thinking
(1) Strong products and professionalism are the first, otherwise strong is just a papier-mâché tiger.
There are always smart people who say that the product is not important, the traffic is important, the profession is not important, and the emotion is important. Well, this is the sadness of the humanities and social sciences. There is simply no criterion. No matter how high and high his authority is, once it passes, then his theories and systems will disappear with it.
But I always feel that the product is the most important thing, and without this 1, no amount of 0 is in vain. Someone asked, why don't you advertise in your circle of friends? Me: There is only one training camp product, and the whole product system is still polished, what kind of advertisement do you post?
Just like this IP, if there is a professional blessing, then his strength will not last long. What we need to learn is not its strength, but its product positioning, product value design, and product system design.
(2) Knowing what you don't do is more important than knowing what to do.
The temptations are plentiful and the information is miscellaneous.
Every human brain generates 80,000 thoughts a day. Every entrepreneur has thousands of impulses to try every day.
We will always feel that more is better than less, and we will always feel that fast is better than slow.
More and faster are the choices of most people, less and slow are the decisions of wise people.
If we can't be wise for the time being, then we also need to know the trade-offs, and we need to make the trade-offs.
(3) Staring at yourself is always more cost-effective than staring at your opponent.
When I'm staring at my opponents, I do what they do, and I can only do the top five in the industry.
When I am staring at myself, when I am concerned about customers, when I have customers and products in my heart, the project can rush to the first place in the industry, and then be imitated by others.
Musk said: Never use benchmarking thinking, because benchmarking can only produce small iterations, and first principles should be used.
From this point of view, this IP does a great job, not like any English teacher, just do a good job of yourself, do a good job of products, serve customers well, and then stay standing, not kidnapped by traffic, not kidnapped by employees, not kidnapped by scale.
The world is sober.
If this IP can continue to iterate and maintain positive traffic growth, then it is not a new success to survive in this way for a relatively long time?
More than.
Author: It's Qingyin, WeChat public account: It's Qingyin
This article was originally published by @是清音啊 on Everyone is a Product Manager. Reproduction without permission is prohibited.
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