Founder's Spotlight: Bradley Jacobs of Mylance.co

Interview with Bradley, Founder of Mylance

Background and Inspiration:

Q: Can you share the story behind the creation of your paid community?

A: Mylance originated from my experience as a fractional COO after my tenure at Uber. I noticed a gap in support and tools for independent consultants, and wanted to create a space where they could network, learn, and share experiences.

Q: What inspired you to start this community, and what problem were you aiming to solve?

A: Experiencing my own challenges as a Fractional COO and then learning that many colleagues faced similar problems, such as finding clients and feeling isolated, inspired me to start Mylance. I aimed to provide a supportive platform where consultants could access resources, guidance, and networking opportunities. And we eventually build a lead gen tool called Mylance Scale that helps independents fill their pipeline and find new clients.

Q: How has your background and expertise influenced the development and direction of the community?

A: My experience in scaling startups and navigating the consulting world directly shaped Mylance's focus on helping consultants build sustainable businesses. I've been able to share my own success and learnings, enriching the community's collective knowledge.

Community Growth and Engagement:

Q: How has the community grown since its inception, both in terms of membership numbers and engagement levels?

A: Over the past four years, Mylance has grown to over 2,200 profiles with an email list of over 6k. We've seen a steady increase in engagement levels, with active participation in workshops, discussions, and networking events.

Q: What strategies have you used to attract new members and keep them engaged over time?

A: We utilize LinkedIn content and a referral program to attract new members. Additionally, we focus on providing valuable resources, live workshops, and a curated community experience to keep members engaged.

Q: Can you share any metrics or success stories that highlight the impact and value of your community to its members?

A: Members frequently express gratitude for the connections made and clients acquired through Mylance. Our rates database, workshops, and supportive environment have helped consultants thrive in their businesses.

Membership Structure and Revenue:

Q: What is your membership structure, and how do you determine pricing for your community?

A: Mylance transitioned from a paid community to a free model, monetizing through SaaS subscriptions and affiliate revenue. We prioritize accessibility and value for members.

Q: Can you provide insights into your revenue model and how it has evolved since the community's launch?

A: Initially, we experimented with different pricing strategies but found more success in offering free access and monetizing through SaaS subscriptions and affiliate revenue. The main SaaS product we have is lead generation for Fractional Executives through Mylance Scale. This approach aligns with our mission to support consultants.

Q: Have you experimented with different pricing strategies or membership tiers, and if so, what have been the results?

A: Yes, we tried charging for the community with various pricing tiers, but ultimately found that offering free access and monetizing through value-added services yielded the best results.

Quick Insights: Mylance generates revenue primarily through two channels:

1. SaaS Subscription: software-as-a-service (SaaS) product focused on lead generation for consulting businesses. Members pay for access to this service, which contributes a significant portion of their revenue.

2. Affiliate Revenue: Mylance also earns revenue through affiliate partnerships through coaching programs, bookkeeping and tax offerings, and health insurance, although this is mentioned as a smaller part of their overall revenue stream.

Community Features and Offerings:

Q: What are some of the key features and offerings that differentiate your paid community from others in the market?

A: Here is a full breakdown below.

• Rates Database: One feature I absolutely love is our rates database. It's fully automated, allowing members to share project rates anonymously. This fosters transparency and knowledge sharing, which are essential for our members' growth and success.

• Engagement and Support: The supportive environment within our community is truly special to me. It's incredibly fulfilling to see members connect, learn, and support each other. We provide resources, guidance, and networking opportunities to ensure everyone feels empowered and supported on their consulting journey.

• Live Workshops: Hosting live workshops is another aspect I adore. These sessions, held twice a month, provide actionable insights and practical advice tailored to independent consulting businesses. It's gratifying to see members benefit from these sessions and apply what they learn to their own ventures.

• Curated Community Experience: Our community's niche focus on fractional professional executives is something I'm proud of. We've curated an environment where members feel valued and respected, fostering meaningful connections and collaborations. It's essential to me that everyone feels like they belong and can thrive here.

• Referral Network Vision: Looking towards the future, I'm particularly excited about our plans to create a referral network within the community. I envision it becoming a hub where members can refer clients to each other, fostering business growth and collaboration. This feature aligns perfectly with our mission to support consultants in finding and maintaining a steady pipeline of clients.

Q: How do you ensure that your community provides value to members beyond what they can find elsewhere for free?

A: We prioritize providing valuable resources, personalized support, and a supportive community environment. Our focus on niche expertise and curated content ensures members receive unique insights and opportunities.

Q: Are there any unique or innovative features of your community that have been particularly well-received by members?

A: Our automated rates database and live workshops have been highly valued by members. These features empower consultants with valuable insights and networking opportunities.

Community Features and Offerings:

Q: What are some of the key features and offerings that differentiate your paid community from others in the market?

A: Here is a full breakdown below.

• Rates Database: One feature I absolutely love is our rates database. It's fully automated, allowing members to share project rates anonymously. This fosters transparency and knowledge sharing, which are essential for our members' growth and success.

• Engagement and Support: The supportive environment within our community is truly special to me. It's incredibly fulfilling to see members connect, learn, and support each other. We provide resources, guidance, and networking opportunities to ensure everyone feels empowered and supported on their consulting journey.

• Live Workshops: Hosting live workshops is another aspect I adore. These sessions, held twice a month, provide actionable insights and practical advice tailored to independent consulting businesses. It's gratifying to see members benefit from these sessions and apply what they learn to their own ventures.

• Curated Community Experience: Our community's niche focus on fractional professional executives is something I'm proud of. We've curated an environment where members feel valued and respected, fostering meaningful connections and collaborations. It's essential to me that everyone feels like they belong and can thrive here.

• Referral Network Vision: Looking towards the future, I'm particularly excited about our plans to create a referral network within the community. I envision it becoming a hub where members can refer clients to each other, fostering business growth and collaboration. This feature aligns perfectly with our mission to support consultants in finding and maintaining a steady pipeline of clients.

Q: How do you ensure that your community provides value to members beyond what they can find elsewhere for free?

A: We prioritize providing valuable resources, personalized support, and a supportive community environment. Our focus on niche expertise and curated content ensures members receive unique insights and opportunities.

Q: Are there any unique or innovative features of your community that have been particularly well-received by members?

A: Our automated rates database and live workshops have been highly valued by members. These features empower consultants with valuable insights and networking opportunities.

Community Management and Support:

Q: How do you manage and moderate discussions within your community to ensure a positive and supportive environment?

A: We have clear guidelines in place and actively monitor discussions to maintain a positive and respectful atmosphere. We take swift action against any behavior that violates community standards.

Q: What measures do you take to address member feedback and continuously improve the community experience?

A: We regularly solicit feedback from members and implement changes based on their suggestions. Continuous improvement is integral to our community's success.

Q: Can you share any insights or best practices for community management that you've learned along the way?

A: Cultivating a supportive and engaged community requires active moderation, clear communication, and a commitment to providing value. Listening to member feedback and adapting accordingly is key to success.

Future Plans and Vision:

Q: What are your plans for the future growth and development of your paid community?

A: We aim to further enhance our community's value by introducing new features and initiatives focused on helping consultants find new business easier and more sustainably. The hardest part of living the “fractional life” is reliably finding new business. We’re breaking down that barrier with Mylance Scale and will continue to do so as the community grows. Further, we are making Mylance a “closed network” where users will provide warm introductions for other members of the community, thus increasing the value that each member brings.

Q: Are there any new features, offerings, or initiatives on the horizon that you're particularly excited about?

A: We're excited to introduce a referral network feature, enabling members to connect and refer clients within the community. This initiative aligns with our vision of creating a thriving ecosystem for consultants.

Q: How do you envision your community evolving in the years to come, and what role do you hope it will play in the lives of its members?

A: We envision Mylance becoming a premier platform for consultants to connect, learn, and grow their businesses. Our goal is to empower members with the resources and support they need to thrive in their consulting careers.