Transcription
We made $436,000 in the first month of launching my brand new business, M19. And in this video, I'm going to go over step by step what we did to launch it with so much success, and also give you some background on some things that surprised us, what we could have done better, and then what we are going to be doing here in the future to get it to seven figures and beyond.
Now, if you're new to my channel, my name is Ryan Peneda. I've bought and sold over $100 million worth of real estate, and I have founded multiple 8 figureure businesses. Now, to give you the one minute pitch of what the business actually does is that we are a golf mastermind. They've got to be doing over seven figures in their business. They've got to love golf and they've got to fit our culture. If those three things hit, then we'll allow them to get a membership with us.
Now, when they get a membership, it opens up access to so many different things. They'll get access to all of the other members where they'll be able to network with other business owners, meet people in their area that they can go golf with and get to know. We're also going to have online trainings and special guest speakers. But most importantly, we're going to hold events throughout the year. And these events are going to be at bucket list golf destinations at some of the biggest, most famous courses in the world.
Now, how it works is they pay annual dues to maintain their membership. Right now, it's only $5,000 and then they pay per event that they would like to attend. In all honesty, with everything that we give at the events by covering their food, their golf, their lodging, the experience, the mastermind, everything is pretty close to cost. There's not really much profit on the events. So the way I think about it is running it like the Costco model. Costco is able to give everything at great discounts and give them a lot of different options of cool things. They just want their members to have a great experience and get great value so that they renew year in and year out.
Now along with that, there going to be other things that spawn off from it. You know, there's going to be deals done together. There's going to be investments raised. I just launched our brand new YouTube channel for M19 that you guys should absolutely go subscribe to. And so I'm going to be playing golf with the members, talking business, doing this golf podcasting kind of deal where we're competing on the course. But nonetheless, that gives you a basic rundown of what the business actually is.
And so the question is, how did we go about launching this brand new business? And how did we almost do half a million dollars in revenue in just 31 days? Well, if you've been following along with this journey, I actually did another video about a month ago, right before I launched the business, and I talked about how I developed the offer, how I came up with the branding, how we did the website, everything that was needed to actually go build the business. So, if you want to watch that video after this, I'll link to it down below. Definitely watch it if you're trying to start a business. But in that video, I set a goal and said, "Look, my goal is that I want to get a 100 members at a $5,000 price point. If I do a 100 members at a $5,000 price point, that's going to be 500,000 in the first month."
Now, for me, that was a very optimistic goal. I wasn't sure if I was going to get there or not. I would have been plenty happy if we got 50 members or 60 members or whatever. I was actually pleasantly surprised to realize that not only did we get really close to hitting the goal, but with a few extra tweaks, we could have actually did way better than the goal. I could have did far more than that if I would have known how much demand we were actually going to have.
When I made the official launch for the business, I was organically promoting it, talking about it on YouTube, doing videos, Instagram reels, stories, all this good stuff. Then I also started running some ads to get people aware of it as well. I did not realize how much demand we'd actually have. With very little marketing and then me organically pushing it, we were getting like 20 booked appointments a day. And the problem was I only had one salesperson to handle all of this. And so his calendar was booked with like 15 calls a day. My COO Hobby's calendar got opened up so he could start taking calls. I even had people on my other sales teams taking calls at that time because we were just not able to get in touch with everybody. There was far more demand than I anticipated. By the way, is an amazing problem to have as a business.
And so about halfway through the launch, I told Javi, my COO, I said, "Dude, we got to go hire some salespeople immediately. there is way too many applications and I'm not even barely running any ads right now because I can't we literally don't have a big enough team to talk to all these people." And so about halfway through the month, Jav started putting ads out and interviewing all these different salespeople while he himself was also kind of the backup salesperson. And sure enough, we ended up finding three different people that we really liked and we ended up hiring those people. So now we've got a sales team of four in this business just 30 days in. We started with just one. So now I can start marketing at an even higher level and we're going to see how well they actually sell. But if things continue to hold up, I'm going to need to hire more salespeople as time goes on because once again, I'm still like not spending as much as I could. So that was mistake number one. We could have definitely surpassed the goal if I was properly prepared from a salesperson perspective.
The second thing we did really well on the launch was we gave a founders special only for the month of August. I basically said, "Hey, it's a $5,000 membership. That's what it is. And we let people know the price was going to double the moment September 1st hit. And the thing is, if you're going to do something with true scarcity and urgency, you got to hold your word. And and we said, look, if you wait until September 1st, you're kind of out of luck because the price is going to double." And sure enough, if you look on this stripe balance sheet, you can see the spikes that start to happen towards the end of the month because people are realizing, oh snap, I got to get in or the price is going to double. And so that definitely caused a last couple of days push that pushed us really close to the goal.
Now, the other thing that I did during this launch that people found really appealing was I said, "Look, we're going to already do these mini masterminds. So, even if you can't make our very first trip, I still want to meet you. I want to make sure you get value." And so, what we're going to do is I'm opening up my schedule every single Friday for six of our members to come here to my office. We're going to have six of our members come. We're going to mastermind for an hour and a half. We're going to have lunch and then we're going to go over to the course and play 18 holes. We'll have two forsomes. I'll play nine holes with each forsome. We're going to film it for the new M19 YouTube channel and it's going to just be great for everyone. Everyone's business is going to get some exposure. We're all going to get to meet each other, play it a super nice course. I'm going to be able to inject our culture into the people from the beginning because these first 100 founding members are going to be so important for setting the culture and the tone for everyone that's going to come after them. And from just talking to the salespeople, that was a huge selling point for a lot of people. They really like the fact that they were already going to get to come to an event as part of their membership and they're going to be able to do it very quickly.
The other thing I did was get our first event booked. So, we're actually going to have our first event at Stream Song in Florida on October 11th to the 13th. It's definitely a bucket list destination. A lot of people are going to want to go to it and so I'm excited to already have that locked in. But now that we see how much demand we have, I'm running into a whole new problem. Originally, I thought that we would do an event every quarter, but because the demand is so high, I'm guessing we're probably going to end up having to do an event every month. You know, if I'm able to go get a 100 people every single month, well, guess what? I'm going to have to add more events to the calendar in order to fill demand. And as the business scales, I could see a world where we literally have an event every week.
Now, I actually think that this is a positive for members. And I actually believe that this is a major positive for members because one day if we have say thousands of members, what ends up happening is there's more opportunities to meet people, we can create local chapters where you can network with people who are in your city. We can create groups within the group. You can have the eight figure group, the nine figure group, you know, the people in these kinds of industries. And then we can now have more events throughout the year where people can really pick the ones that fit them best and their schedules and the places they want to go. I mean, if you have the option to go to 50 different events versus four, it's far more valuable for you and you get way more people to connect with.
The other thing that really surprised me about this business was the caliber of people that were applying. I posted one of these on my IG story and I said, "Look at this. This is the amount of people we're getting every single day and here's how much they're making in their business." And you would look at it and it would show that, man, we were getting like 30 40% of people who were making over seven figures in their business. we'd be getting like 20% of people that were doing over eight figures. You know, there's some people under seven figures and unfortunately we don't take them. But on top of that, we also had nine figure people even applying and it was like, wow, I did not know there was these many highlevel people that were interested in what we're doing. And then the other interesting part about it was something that I've heard before many, many times, but I hadn't experienced it in a while, but it's like selling to rich people is way easier than selling to people without money.
In my other company, Wealthy Investor, we teach people how to invest in real estate. Now, typically, somebody who comes in is somebody who doesn't really have a lot of money yet. That's why they want to learn how to invest. They want to quit their job, and we're going to help them do it through flipping houses and wholesaling and everything else. That business has trained thousands of students. It's done tens of millions in revenue. It's been awesome. But selling to that kind of person is significantly harder than selling to a seven or eight figure business owner. Literally, the sale is so much easier to sell them on a golf membership than it is to get somebody to start a wholesaling business. It's night and day.
But probably the biggest thing that shocked me from all of this was the amount of people wanting to collaborate with us in some way. I'm talking legit golf courses that have like $250,000, $500,000 initiation fees. I'm talking big content creators that love golf and golf YouTubers. And then I'm talking really big golf companies. I've had multiple nine-figure companies reach out to us about potentially being a provider for us, being a sponsor for us, being the official supplier of whatever you want to call it.
One of the deals I just cut is with the founder of Goed Golf. They got a really cool company where they do limited edition drops of golf gear and all this cool stuff. And he applied to be a part of the group. And then he said, "Hey, look, I'm open to doing different things. I want to supply the members with exclusive swag, putters, polos, hats, bottles, you name it, I want to create custom ones for all the members." And so him and I got on a call. We vibed really well. His name's Kevin. He's also a believer. He's a Christian. And we just and we just really hit it off all the way around for what we're trying to do with his company with M19 and everything else. And so now he's created this exclusive collection that members are going to get, but then we're also going to create exclusive collections around every single trip like these putters and challenge coins and all this cool stuff. And it's going to be awesome. I'm like super excited about it because I love collecting. I love just exclusive things and that's what I want our members to have. And that's just an example of one company. You know, I'm working on deals for everything you could imagine in this business. And if this many companies are coming out of the woodwork in just the first 30 days, I can't imagine what's going to happen in the years to come for the companies that want to partner with us in different things.
So the question becomes, what's next with all of this going forward? Well, my goal is to make it a sevenf figureure company literally here in month two. I think if we had that much success in month one, now with more salespeople and with the price being doubled, I don't think there's any reason we can't do over 600,000 this month right now. It would be the quickest business I've ever gotten to seven figures. It's definitely the most enjoyable business I've ever done. I mean, if you would have told me I get to go play golf for a living and make money doing it. I mean, what else could you want?
And for me, if I'm being completely transparent about all this, I kind of still am in disbelief. Like, most businesses I start are a grind. We don't really know how it's going to work out. There's usually a lot more problems in it that you realize as you go along. And in many cases, when you launch something, it's not really profitable until you get going. But that hasn't been the case for this. This has been the best launch of a business that I've ever had in my career. And I just truthfully enjoy it more than any other business I've ever done in my career. You know, as a former pro baseball player, getting to just do sports again and hang out and have fun, like it really does feel like a dream. And so, I'm excited for the future of this.
But let me know if you want me to continue to do update videos. You know, like I said, I'm going to link to the first video I did before I launched this. If you guys want update videos on how the business is going, what next moves we're going to make, let me know. Cuz this is the first business I've started in over a year. And so, it's fun kind of documenting the journey and going through all these new experiences. And I'm super excited that the first month went as successful as it did. But go ahead and watch that other video and we will catch you on the next.