Business
Thinking about adding a membership to your already growing business? Already have a membership? An online course? Have you considered that one might not be the best idea for your business? Well, on today’s episode, I’m diving into answering whether an online course or a membership is right for your business. You see, I built my business with online courses, but I’ve also had memberships too. And I like both for different reasons. I’ve covered a lot about online courses here on the show, but not a ton about memberships. Memberships can be a high leverage, simple yet effective business model, and they're also a great opportunity to differentiate yourself from others in your space in the way that you deliver your membership. This is why I'm kicking off a “Membership Series” here on the podcast where we'll be deep diving into all aspects of memberships starting with today's topic — is an online course or membership right for your business -- all the way through to retention strategies and beyond. This series is going to be for those of you with an existing membership or if you're considering adding one to your business. Hope you enjoy today’s episode... Discussion Points In Today’s Episode: 0:00 Introduction 3:22 Memberships don’t have to be the usual monthly subscription 5:23 Create a membership or an online course? 9:28 The best time to add memberships to a business 10:59 Best way to price your membership 13:01 Your membership should have a promise 14:33 Why people cancel their memberships 18:08 People just get thrown into a membership Are you a course creator or online coach who’s already averaging at least $7-8K in revenue per month from your online business and you’re ready to increase your profit, have a bigger impact, with LESS hustle? If you’re feeling overwhelmed, doing all the things, and you’re not sure what next steps you should be taking in your business… Then my Accelerator coaching program may be for you. Click here to learn more and apply for my Accelerator coaching program. Resources: Visit my website where you’ll find more info about my coaching programs as well as hundreds of free podcast episodes → https://rickmulready.com/ I’ve basically tried them all over the years, but this is my favorite landing page, order form and funnel builder. And it has a built affiliate center! → https://www.rickmulready.com/10xpro Join and apply to my Accelerator coaching program - https://rickmulready.com/accelerator See omnystudio.com/listener for privacy information.