(Omg, first off, it’s so hard to write about list size without making a million dick jokes)
Okay, enough of that. Let’s talk about list size.
“How big of an email list do I need to make $10K a month?”
This is a question I get a lot.
People want to get some kind of scientific graph, like if you have 500 people on your list, then you should be making $500 a month. It does not work that way! In all my years building my list and helping other women make $$$, I have never seen a clear correlation between list size and revenue.
I truly believe that whatever your list size (even if you don’t have a list!), you can make money.
Look, I know that if you’ve got 200 people on an email list, you do NOT want to hear what I’m saying. You’re like, “Rachel has a 20K list…and she’s telling me to smell the fucking roses?!” But there was a time when I also had 200 people on an email list and I was still selling then. I have never let list size stop me from hustling (or dick size, for that matter…)
So if you’re about to delete this email and go back to sitting on the couch drinking cheap Pinot with the shades drawn, think about this:
In the past couple weeks, I’ve spoken with a woman who has 35,000 emails on her list…and nothing to sell to them (doesn’t it just make you want to cry?!), an MDB masterminder who a much smaller list, but rocks a 45% open rate (damnnnnn!) and is going to break seven-figures this year, and a newbie entrepreneur who is selling a product to the 6000 people on her list and nobody is buying.
What gives? Let me explain.
#1 – These metrics matter more
Open rate. Click through rate. Unsubscribe rate. These are the numbers that matter. These are the metrics that show how much your audience likes to hear from you, and if they want to learn more. Think about it this way, if you have 5000 people on your list and a 10% open rate, that means that 500 people are reading your email. And if you have 1000 people on your list and a 50% open rate, that means you have 500 people reading your email. This is simple math, folks!
#2 – Don’t use your list size as an excuse for why you can’t sell
It would be ridiculous of me to say that list size doesn't matter, full stop. Of course it matters. And if you’re planning on building a seven figure business, you need to pay attention to building your list the same way you need to pay attention to building your brand, your site, your offerings, your team, etc. It’s a tool to help support your business and when used effectively, it can be an amazingly powerful tool.
But I’ve noticed that the people who seem overly concerned about list size are the ones that have convinced themselves that until they have a big list, they have no way to make money. Which gives them a very convenient excuse for why they’re not hustling, not making sales calls, not doing facebook lives, not launching products. “I’d love to make seven figures this year, but I don't have a big list like you” → is a common refrain in the Rachel Rodgers world.
#3 – What are people signing up to get?
A big list will not solve your problems. If I haven’t made that clear enough, let’s circle back to my last example → the newbie entrepreneur who is selling a product to the 6000 people on her list. This is a woman who created a very successful blog about personal finance. And is now trying to sell a DIY Pinterest Ads course. The 6000 people on her list LOVE everything she writes about budgeting and saving and debt payoff…because that’s what they signed up for. But Pinterest Ads? Forget it! They are the wrong audience for this product so those 6000 emails might as well be 6 emails. Creating something of value is MUCH more important than having an arbitrarily large list.
The size you should be worried about?
How big is your confidence? How big is your chutzpah (isn’t that a great word)? How big is your motivation? How big is your desire to succeed?
PS: When you’re ready, here’s two ways my team can help you grow quickly this year:
1. Join the Hello Seven Group and connect with women entrepreneurs who are scaling too.
This is our new Facebook community where badass women learn to get more income, impact, and independence. Click here
2. Join Glow Up, my 10-week course where you will complete the 9 projects that will scale your business and add $100k to your revenue.
If you’d like to work with me on simplifying your business while scaling to more revenue, Glow Up is the place to be. We’re starting tomorrow, June 4th, and have some special bonuses included. Registration closes tomorrow so act quickly. Details here.