"How Do I Grow a Paid Community?"

0:00Hi, Alex. I'm Cindy Lou and I'm a pause here. You guys are right. >> [laughter] >> I run mastermind groups for chief HR and people officers for mid mid-market companies. >> You run a mastermind for getting people cheap HR? >> No. The mastermind is for chief HR officers. >> Chief. >> Chief. >> Okay, chief. I was like I like [laughter] I like the how you advertise are you a chief HR officer? Well, we have a mastermind for you. And they're like I can't afford it and you're like no surprise. Anyways, keep going.

0:30>> Um CHROs. So So when I started this it was Dallas-based and we did a hybrid of Zoom calls as well as in person. >> Cool. >> It was a big hit cuz nobody in HR had even heard of what masterminds were so they're like this is great. And we can meet in a safe space with no vendors and it's just people like us. >> Yeah. >> Um right before the pandemic I decided to start a virtual group. >> Okay.

0:56>> And I'm like okay, this is going to be cool. I was teaching people how to get on Zoom. >> Sure. >> The pandemic hit it was still really cool because people are like this is awesome. Like now. >> And the pandemic left? >> Right. People are like Um so who do you have in Atlanta? Who are the other people in Atlanta? I'm like Uh there's like two people in Atlanta. >> Yeah. >> What about Podunk Idaho? I'm like well there's never going to be anybody there but sorry. >> Yeah, who does HR [laughter] there, right?

1:21>> Right. So So suddenly So my close rate in Dallas is like 80%. If I get somebody on a Zoom call, it's like they're doing it. >> Yeah. >> If they're >> Can I just skip to where the two two options you have? >> Yeah, I don't I got to work on my offer. I'm >> Well, I actually I don't think so. Um so either you're mispriced for a virtual >> I do Yeah. >> Because you So the thing is you got away with an in-person pricing during COVID when you shouldn't have and now reality set back in and people are like oh I just would rather I would rather pay this if I'm going to get something in person.

1:53So you can either tell people that they're going to fly in X times a year. Right? >> Or you can have multiple offices. That's if you change very little about what you have. I would test just having people fly in cuz I think people like getting out. I don't think it's it's like a nice change of pace. You You go to different environment. Dallas is a great destination. It's right in the middle. There's direct flights everywhere. >> Yeah. I tried that. They were kind of like, "Oh, but I want to know who's here in my market." Like they want like physical

2:21>> should have to sell around that which is like actually we found that it's better to not have that because that way you don't feel like you have competitors, people sharing secrets, any kind of inner inner inner political drama. When you do it here essentially it's way more people from different diverse backgrounds and you don't feel like you're sharing secrets. It's a so much safer space. >> Maybe I'd let them um if they want to fly in, they can upsell. >> Well, cuz what's the alternative, right? The alternative to not doing this is you have to either either do remote and you probably have to drop your price because remote's just not that exciting.

2:48>> Right. >> Or you tell sell people on coming in person. I personally think it's easier to just overcome the sales objection and then just close them. >> Versus going geographically? >> Yeah. I mean if I if I if I had to test things it's like risk and you know, risk associated with opening lots of locations versus risk associated with learning how to overcome this objection. Like do that one. >> Okay. >> So it's like I've tried that. It's like we'll just try more. Try again. Like I I'm fairly confident because the thing is is that there's a zillion masterminds that don't have that.

3:21>> Right. >> And ours specific. There's sales masterminds and you fly into wherever you're going. So I think it's just like you heard it once or twice and they're like you believe them. But they need to believe you more than you believe them. >> Right. Okay. >> Yeah. You have to tell me all the reasons why it's great that they go to Dallas. >> It's hot. >> Yeah. >> [laughter] >> It's great during the winter. >> It is. >> Right? So I'm I'm being dead serious. Like you're you're just being sold by the prospect. You need to sell them. >> Okay. Thanks.

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