Don’t Be Afraid of Failing
People Magic: How to Build a $1M Community
Deep Dive
Why is January a significant month for Luvvie Ajayi Jones?
January is significant for Luvvie because it marks her personal new year as a Capricorn, with her birthday on January 5th. It’s also a time of reflection and new beginnings, especially as she turned 40, which energized her for the year ahead. Additionally, she launched a new initiative in January, aligning with her deeper purpose.
What was the turning point for Luvvie in rebuilding her business after failure?
The turning point came when Luvvie fired most of her team, leaving only one person, and paused to reassess her priorities. This allowed her to focus on what truly energized her, leading to the launch of the Book Academy on July 15th, just 15 days after restructuring her team. This initiative became the foundation for rebuilding her company.
What is the Book Academy, and how did it come to life?
The Book Academy is a six-session course designed to help aspiring authors go from idea to published book. Luvvie launched it after realizing her unique expertise in writing and publishing bestsellers. She sent an email to 3,000 people on a waitlist, and 270 signed up for the first cohort, which was priced at $495. The program teaches the business of publishing, marketing, and branding books effectively.
How did Luvvie overcome the fear of failure in her entrepreneurial journey?
Luvvie embraced failure as a signal for change. After experiencing a major professional setback, she paused, reassessed her business model, and shifted her focus to what truly aligned with her purpose. She realized that failure was part of the journey and used it as an opportunity to pivot and rebuild with clarity and confidence.
What lesson did Luvvie learn about pivoting in business?
Luvvie learned that pivoting is essential when a season in business has expired. She realized that clinging to outdated methods or structures can hinder growth. By stopping, reflecting, and focusing on her true purpose, she was able to rebuild her business around the Book Academy, which aligned with her strengths and passions.
How does Luvvie approach pricing for her services, and what advice does she give to entrepreneurs?
Luvvie charges based on the value she provides, standing confidently in her expertise. She started the Book Academy at $495 as a beta test and increased the price for subsequent cohorts as the value grew. She advises entrepreneurs to charge what they’re worth, emphasizing that confidence in one’s skills and impact justifies higher pricing.
What is Luvvie’s mission for 2025?
Luvvie’s mission for 2025 is to teach entrepreneurs how to value their first cohort and charge appropriately for their expertise. She wants to help others overcome the fear of pricing too high and recognize the worth of their work, especially when starting out.
How does Luvvie view imposter syndrome, and what advice does she offer about it?
Luvvie believes imposter syndrome doesn’t serve anyone, especially women. She advises against doubting one’s worth and encourages standing confidently in one’s expertise. She emphasizes that confidence allows for growth, resilience, and the ability to charge what one’s work is truly worth.
What role does confidence play in Luvvie’s approach to failure?
Confidence allows Luvvie to view failure as part of the journey rather than a reflection of her worth. She believes that confidence insulates against the fear of failure, enabling her to pivot, learn, and grow. This mindset helps her embrace challenges and continue moving forward with purpose.
- January is Luvvie's personal new year and a time for deeper purpose.
- She's launching something new in January.
- Entrepreneurs often face fear of failure.
Shownotes Transcript