My Favourite Way to Scale Your Business: Create a Membership Site
I've decided to dub August as Membership month. I'm putting a lot of my focus into my own membership, supporting clients in crafting their membership and bringing you, my fabulous community of business savvy, a membership crash course.
So if you've been thinking about creating your own membership then you're in for a treat...
4 weeks of membership madness coming your way!
What are memberships and why they're so great
Memberships are the future of online business. They're like a one-time product purchase that provides recurring revenue streams - either monthly or yearly payments, depending on which membership you choose to create. This is great news if, like me, you are a content creator at heart because it gives you time and freedom to focus your creative energy on new ideas for content without worrying too much about making sales every day.
Repeating income means I can be more experimental in my approach (e.g., publishing less frequently) while still being confident there will always be an audience there waiting for what's coming next!
Now that more people are willing to pay for online content, it's time you consider a membership site or two. Look online and you'll find paid memberships on a multitude of topics like selling stocks, health and fitness, dating, coaching, mentoring, marketing, and dieting all producing nice profits for their creators.
Benefits of creating a membership
- Create a recurring source of income to support working on your product.
- Create an ongoing relationship with customers who will grow, learn and evolve over time.
- Create one membership site that has the potential to scale into many different products and niches or perhaps even turn into a full-fledged coaching business-- all from just this one idea!
- Create passive revenue streams that are less work than ever before because you can create content once but sell it (or deliver it) as many times as you want.
As long as there's something people need help within their life, business, relationships, health... There'll always be demand for paid information delivered through some kind of platform - whether video course, ebook(s), blog post(s), podcast, live event or... a Membership!
I love that memberships provide you with an opportunity to take your hobby, specialized knowledge or profession and turn it into a profitable business.
Of course, it takes work and the right tools to set up a members-only website but the rewards (monetary as well as personal satisfaction) can be huge.
In most cases, the biggest challenge is creating the content to deliver to your members, and I'm going to be covering that in detail in an upcoming blog.
Before you start building your site, do a little prep work and market research to get a firm grasp on the viability of your ideas. If you rush into this process, it might mean that you’ll end up with a site that wastes time and is not profitable.
In the beginning, having a membership site can feel intimidating. But don’t let that stop you from exploring all that this fabulous business-building option has to offer.
I'll be sharing a load of important info over the next few weeks to get you motivated and ready to start your own membership site!