In 2013, Nathan Barry decided he wanted to make software. After surveying his community of entrepreneur friends on their needs, he created ConvertKit, email marketing software done better. The problem was that ConvertKit was a side project to his already successful business self-publishing books about design. He was making low six-figures with his self-publishing business and it was hard to commit to his side project that was generating only $2,000 per month in recurring revenue.
After one of his mentors encouraged him to shut down ConvertKit since he clearly wasn’t fully committed and it was making little to no money, he realized that he still had a dream of being the CEO of a software company. So he recommitted to growing ConvertKit, and by doing so ushered in his next level of success. One and half years after recommitting to ConvertKit, this “side hustle” is now Nathan’s main gig and generates $3.5 million per year.
I fully relate to Nathan’s story. I, too, have semi-abandoned a side hustle and a dream.
Small Business Bodyguard was originally a side project. Something that I created back in 2013, with the help of a friend, so that I would have a resource to share with potential clients of my law firm who couldn’t afford me. I had no idea that SBB would be so well received and generate over $250,000 in its first year. Then SBB did it again in it’s second year, generating another $200k or so. At this point, SBB has generated $600,000 in it’s lifetime.
And we’ve been through alot together. From buying out my former business partner to filing a federal lawsuit to protect its intellectual property — it’s been a wild, crazy, emotionally draining and, at times, financially draining experience.
And yet, even though I have done little to market this product and to encourage its growth over the last year, it continues to generate between $10k – $20k every month (though most months it’s closer to $10k).
And, just like Nathan, my dream hasn’t changed.
I want Small Business Bodyguard to grow into THE go to legal resource for entrepreneurs everywhere. I believe Small Business Bodyguard could rival Nolo and other larger companies in this space. In order for it to do that, I have to commit. Commit time, commit my team, commit money. So I’ve decided to recommit.
An all new Small Business Bodyguard experience is coming.
We are updating Small Business Bodyguard and re-designing the look and feel of the product, the website and the membership site. We are adding a community, that allows you to get access to our legal team through monthly phone calls and an active Facebook community. Community members will also receive a new template, worksheet or cheat sheet every month, to help you cross more things off your legal checklist, get deals done and maintain peace of mind.
My new goal is to take Small Business Bodyguard from $10k per month to $100k per month over the next 6 months.
That would make Small Business Bodyguard a million dollar product. Not just a million in its lifetime, a million annually. So how am I going to accomplish this? In addition to updating the product itself, I am going to invest in FB ads. I’ve hired the best FB Ad Wizard to help us grow through ads. In addition to the ads, we’re also investing in outreach, spending more time in front of new audiences of entrepreneurs that need SBB. This means, guest posts, podcast interviews, webinars and speaking gigs. Lastly, we’ll also recommit to creating great content on the Small Business Bodyguard website every week, which will include the new Small Business Bodyguard podcast.
You’re invited along with me on this journey to get SBB to $100k per month. Each month, I’ll share an update on the progress we’re making towards this goal. I’ll also share our wins, losses and the lessons I’m learning along the way.
Together we’ll figure out how to create a million dollar product.
Of course, investing in the growth of Small Business Bodyguard means investing both time and dollars. Other than the initial $15,000 invested in first creating the product, Small Business Bodyguard has always been self-funded. That means that the product has always paid for its own expenses and growth. This time will be no different.
So in order to jump start this new initiative, we are doing a special promotion on all of our legal kits this week. We’re putting Small Business Bodyguard, Brand Boss, Legal Nunchucks: For Coaches, Legal Nunchucks: For Photographers and Ready, Name, Fire on sale. Look for an email from me this Thursday (if you're not on the mailing list, subscribe here) with more information about how you can invest in the future of Small Business Bodyguard, by grabbing one (or more) of our legal kits on sale. And there will be some special, VIP, behind-the-scenes opportunities as well.