I sat down (over Zoom) with Jaime Laing to learn about how she transitioned from the world of traditional business to creating success in her online business (without having to promote to friends and family or do any of the cheesy things you sometimes see in the online business space). 🤷♀️
Jaime and her husband, Kevin, spent 12 years building up a successful martial arts studio in the greater Sydney region. What started out as a hobby, turned into a thriving business with hundreds of students and multiple subsidiaries using their brand name throughout Sydney.
"It was our baby. We built it up from scratch. It was a lot of work and we loved to see our students thrive in the environment we had created. When covid hit and we were forced to close. We had to make some really tough decisions".
Faced with the very real possibility of losing their family home, Jaime and Kevin made the very difficult decision to close the studio they had spent more than a decade building up.
"We weren't sure how long the closure would be. We still had all of the expenses and zero money coming in. It was a very stressful time and difficult to let go. Quite a few tears were shed. Letting our staff know was the most difficult".
Jaime then decided to focus on building her Prosperity Of Life business.
Check out this great video below where Jaime shares her story in more detail.
"I was already a distributor and had started doing a little bit part time, but then when we let the studio go it was time to knuckle down and get serious".
Jaime and I talked about the difference between building a traditional business versus creating Success in the Online Business world.
The stand out differences is that of operating expenses. 💰
In a traditional business you have rent, staff, insurance, marketing, superannuation, utilities....the list goes on. For Jaime those expenses averaged between $10-$12,000 every single month.
By comparison the secret to success in building an online business is the low overhead.
Here at Prosperity Of Life the fixed costs run at $153 per month. There's no need to pre-purchase stock and no staff to manage (other than yourself....yes, you do have to manage yourself). 😀
We do have the variable expense of marketing. But the thing with the marketing expense is you're in complete control. You can turn it up or turn it down in order to manage that side of your business.
Your budget might run anywhere from zero dollars (there are plenty of free and effective methods these days) all he way through to $200 per month or more.
Personally I started off with a $200 per month marketing budget and then as I scaled my business and became more and more successful I simply re-invested about 10% of my profits back into my marketing.
Jaime has made as much as $40,000 in a single month running her Prosperity Of Life business which is double her best month operating her traditional business.
Another stand out difference from traditional business versus success in building your online business is global reach.
To not have area restrictions forced upon you really does allow for greater growth opportunities, expansion and stability. Particularly these days. Back when I got my start in the online space we were able to build internationally, however back then the cost of communication was absolutely a factor that presented it's own restrictions.
My phone bill used to be my biggest expense....it used to run into the thousands per month. These days you can talk all over the world through Skype, Zoom and Whatsapp for next to nothing! #gamechanger #grateful
If you're curious to know how someone creates a high degree of Success in Online Business, Jaime's interview leaves the biggest clue.
The key is to find a product line that you can really believe in.
Here at Prosperity Of Life we are in the space of Personal Development and this has been a passion of Jaime's since she was just 19 years old. Her first Personal Growth book was You Can Do It by Paul Hanna.
Before starting with the programs offered by Prosperity Of Life Jaime felt a little stuck in her growth journey. She talks about how her partnership with us has allowed her to sky-rocket to a new level, having more growth in the five years she's been with the company than in her previous 20 years of her personal development journey.
Here's to your continued success Jaime!
Do you have questions about Prosperity Of Life? Schedule a discovery session here.