My New "Honors System" Experiment!!
"Revolutionizing Entrepreneurship: My Journey with Strange and Innovative Business Models"
Embracing Experimentation in Business (& Life)
I'm always telling my 7-year old son to be curious & experimental in life, and so to avoid being a hypocrite, I practice this philosophy in how I do business.
If you've been part of my journey for a while, you know my passion for experimenting with all sorts of different business models.
Pricing is a funny and weird thing, especially pricing for things that don't have a tangible cost (like a book or physical product)... and so I have always sought the "pricing sweet spot" that allows everyone involved in the transaction to win.
As a college drop-out, turned entrepreneur, I didn't have much money for coaching or support in my early days and so I had to get creative with how I found business partners OR bootstrapped my success.
The struggles I went through to get to where I am have always inspired and motivated me to keep my work as accessible as possible - while still valuing my work.
Most sliding scale or alternative models I've seen tend to devalue the work of the artist or creator. I have always sought out the sweet spot where everyone wins, which is another reason I put so much of my work on YouTube & in Podcast form.
When it comes to trying out new and exciting ideas, I have a simple mantra that makes me feel free to experiment. This philosophy has been a motto since I was a teenager, and I have evolved it throughout my journey of life and entrepreneurship. It goes:
"If you don't go, you don't know."
My business journey has been a tapestry of many models – freemium, premium, and everything in betweenium.
Some experiments were very successful and have shaped my career and business philosophy. While others were complete failures.
In all experiments though, I have lived, learned and moved on wiser and clearer... just like we're supposed to do as humans!
Too many people are afraid to try new things and mess up. I think school did that to humans. Fortunately, I wasn't very gifted in school and so I skipped that lesson.
About five years ago, I made a significant shift from client-based work to partnership models, changing the fundamental way I engage with clients and projects. I am bringing my lessons from this prosperous, mutually beneficial chapter into this latest experiment that I'm sharing today.
The Philosophy of Shared Success
My philosophy is rooted in a desire for mutual success – I believe in creating scenarios where everyone wins. This belief is the cornerstone of my latest experiment, which is inspired by my good friend, Tad Hargrave of Marketing for Hippies, and his pioneering 'Pay What You Can' model. I'm also influenced by Mark Silver's 'Pay from the Heart' approach, a concept he shared on my 'Making Majik' podcast. Most of all though, I am inspired by the community I call home.
The Magic of Living on Salt Spring Island, BC, Canada
Before I delve into the specifics of my new "Honors System" model, let me share a bit about my life on Salt Spring Island, BC.
This magical paradise, one of Canada's most food sovereign locations, is home to countless farm & food stands. These stands, offer everything from jams, to eggs, to baked goods, chocolate, coffee or ceramics -- and they ALL operate on a trust basis!!
The farmers trust that community members will pay for their goods left out in the open. This beautiful exchange of trust and community commerce is what I aim to bring into my business; whether it's via revenue share partnerships in Majik Media or our Fair Pay Publishing model at Majik Kids that pays our artists fairly.
Introducing the Majik Honor System
So, here's my exciting new experiment: For my upcoming 'Create and Launch Your Flagship Training', which is designed to help you launch a 4-5 week group coaching program, I’m introducing an 'Honor System' payment option (from January 25th - May 2nd).
The training, priced at $1,000, is now accessible through a flexible payment model.
How It Works:
Standard Option: Pay $1,000 and get complete access to the training, community, and resources.
Majik Mind Membership: Join my community for $247/month, where you access all my trainings, three live community events per week, this training, custom coaching support, & our intimate communal space with some of the most magical humans I know.
Honor System Option: Pay a $300 down payment plus 20% of your program's revenue which you design, market, sell & deliver you during in the Flagship Training. You only pay me on your first launch with it, after that it's all yours'!
This model allows for an equitable exchange based on your success. For instance, if your launch generates $10,000, you'll contribute 20% of that revenue back to Majik Media as a "thank you very much!" This method aligns with my philosophy of partnership and shared growth.
My intention: If you win, we all win!
A Call to Creative Action
I invite you to join this training and adventure, especially if you're on the fence about launching, relaunching or upgrading an existing coaching program.
This four-month journey promises to be transformative, guiding you to create a profitable, transformational, creative LIVE program you can offer repeatedly to your audience.
If the full price is a stretch, or if the all inclusive coaching buffet inside the Majik Mind doesn't align with your current needs, then the honor system might be a perfect fit. Pay the initial deposit & let's grow together!
Join the Movement
Let's change the internet and the way we do business.
Let's experiment with models that prioritize the benefit of those who buy from us. As creators, it's our duty to innovate and be creative. Experiment with me and let's learn from each other's lessons.
I promise you'll see a case study about this Honors System experiment after the training is complete and the numbers are in!
I'd love to hear from you – what are the experiments and innovations you're contemplating in your business these days?