Greater Than Business Podcast – Episode 035

 

This is episode 35 of the greater than business podcast. And today we are going to be talking all about membership sites. Now if you listened to episode 34 at the end, I let you know that I was going to be talking about membership sites on episode 35. However, I decided to change the topic of this episode just a little bit. So instead of talking about when is the right time to create a membership site, I am going to be talking about five things that you need to consider before creating a membership site. So I've switched the topic just a little bit and I wanted to let you guys know right off the hop that I did change it. Um, sometimes things happen where I start going into wanting to talk about a topic and I decide that perhaps it wasn't, not that it wasn't a good topic, it was just not a topic that I was ready to talk about.

So this one I want to talk about obviously, and it's something that I feel is going to be more important for you guys starting out and figuring out your business. And also changing your business into a different model. And I figured that this is going to be more beneficial for you guys as well. So without further ado, this is episode 35 and we are talking about things to consider before you create a membership site. So I have come up with five things that I feel that every business owner online needs to consider before they decide to create a membership site. Because membership sites are amazing. Having the recurring revenue is phenomenal, it's predictable, it's consistent and it requires not necessarily minimal effort, but it requires a lot less effort than going through like a launch model where you're constantly launching new products and launching new things.

And it gets you out of that cycle of feeling the need to always launch. So during your slower times when you're not launching, having a membership site gives you the ability to still have consistent income rolling in. So the first thing that I want you to consider before you create a membership site is do you have an audience? So that is question number one that you need to ask yourself. Do you have an audience? And of that audience, are they going to be engaged enough with your content to want to pay for a monthly subscription to it? So if you have a an audience, then that is great. That is one tick in the box that you need. But if you don't, the secondary followup question would be do you have a plan to grow your audience? So if you know that you want to do a membership site, you know that that is something that you definitely need in your business, then obviously you will want to make a plan to grow your membership site.

In the meantime, while you are building your membership site, sorry, I should have said grow your audience while you're building your membership site. So if you have a solid plan to grow your audience, well you are in the process of building out your membership site and figuring out exactly how you want things to work. Then by all means, you can tick that box as well. So as long as you have a plan and as long as you understand that if you're launching to a smaller list or a smaller audience, then obviously those type of things are going to factor into your initial success with your membership site. So obviously you are still going to be able to launch a membership site to a small audience, but having a larger audience just gives you more people to reach obviously. Okay. So this second question that I want you to ask yourself is who is your site going to be for?

So obviously you have to relate everything back to whoever your ideal client is. And then for a membership site you can kind of expand it a little bit more because you obviously don't want to make a membership site for one person, but you want to create it for a group of people that are like your ideal client. So you just have to make sure that everything that you are setting up for your thought process behind your membership site makes sense for your ideal client and a group of your ideal clients. So if you feel like your ideal client would rather have a community based membership site, then that is something where you would obviously have to cater your content to be more community oriented versus just being like tutorials and stuff. So there's plenty of examples out there of other people that have created membership sites that are based upon community, which basically means you're kind of paying like your monthly dues to be able to hang out with likeminded people.

So having a membership site like that makes sense if you don't want to be completely hands on and responsible for creating new trainings and all of that other stuff. Obviously you'll have to host probably questions, question and answer periods or you might have to host like group calls, perhaps something along those lines. But you want to really create a sense of community if that is the type of membership site that you think your people are going to go for. The other type is that you can have basically new content. So for myself, if I was creating a membership site, I would do it based on monthly trainings. So I would give, each month would have a topic and then I would give out tips and tricks on that topic that are working right now so that you can always recycle the topic, like Facebook ads. So if I was to do it and I wanted to host a membership site and my first month was going to be all about Facebook ads, then what I would do is obviously say everything that's working right now with Facebook ads. And I would explain how to set them up, how to do it, how to set up targeting, all of that stuff. But knowing that in six months some of that might change and I'd be able to refresh set topic on Facebook ads. So things like that are really good to consider before you start your membership site. So what

would your ideal client be looking for in a membership site and then cater it to their needs? So that is the second thing that you really need to consider. And I know in this one I only mentioned two different types of membership sites, but that was just kind of get to get the ball rolling. Um, later on I will be doing a deeper dive into membership sites for the podcast. I don't know when that episode is going to come out but it will be eventually. So this I just wanted to kind of give you a quick rundown of you need to consider who you are going to be serving on your membership site. Okay, so step three, not really step three but question three is can you build a site around your knowledge because you are an expert or should you build it around a community style?

So I talked about this in in question number two that you need to ask yourself, but this is kind of going into a deeper dive of how you want to build your membership site and what your role is going to be. Are you just the community ambassador that brings all the people together or are you going to be the teacher and train all of these people together? So you really need to consider what type of membership site you want to be building. So you can easily build a membership site around your knowledge if you are considered an expert or if you are catering to people that are a few steps behind you and you know that what you have to offer can be beneficial to them. Or you could build it as a community style, which basically means you're pooling together likeminded people and you've created the hub and that is where they can find each other and people will pay to be a member of a community if they love that community.

And so that one, you kind of have to start out as the example in that group, but then allow people to kind of grow and adapt to your community cultures so that everyone kind of fits under the same umbrella, I guess is the best way to put it. So those are just two ideas that you could use for your membership site. But it's really interesting to just kind of think about what would your ideal client benefit from, what would they actually want to pay for and what's more important to them. Getting more training or having a community around them. Or you could develop a hybrid membership site as well that contains both elements. So you are the expert, you are providing the training, but you have also curated this amazing community of likeminded people that are getting trained on the seam topic and therefore you've all kind of come together as a community.

So there's two different ways technically three that you could start to play with. Now those are the two main types of membership sites that I generally work with. So that is why those two come very easily to me and why they make a lot of sense. And then the third option was the hybrid method where both of them are combined. Now that one takes a lot more time and commitment from yourself if that is how you want to hook it up because not only do you need to come up with the trainings, but you also need to be curating the community as well. On top of that and running a community based site can be overwhelming because you need to be so present all the time as well. So things to consider. I just don't want to overwhelm you completely, but those are three different types that you could definitely consider for your membership sites style.

So the number four question that you need to ask yourself is are you prepared to take this on? And I really, really want you to consider the time that it's going to take to build out not only a membership site but also to maintain it. Bring in new members, monitor customer service, look at retention, like all of those things are very overwhelming and time consuming and there's something that you really need to consider if you want to create a membership site. Membership sites are not a set it and forget it type model. They are very hands on and although the revenue can be amazing and the recurring income is phenomenal, it does take a lot of work and you can't just take months off at a time and go travel. You need to be constantly present and always showing up in your membership site. So if you are considering it, you really need to consider are you prepared for the time, the investment, the just everything that comes along with a membership site.

So I really, really want you to ask yourself, are you prepared to take this on? And if your answer is yes, then you're set. Because if you've already considered everything that you could be doing and you are completely comfortable with it, then yes you are ready for a membership site. So the final question that I want you to think about is do you have a clear success path for your members and content available to support them from day one? So obviously you don't have to have the content ready and you don't have to have the content up on a site before you consider if you are ready for a membership site. But do you have a general idea of the content, the base content that you can put on your membership site? And do you have a clear path for your members to take? So what I mean by that is obviously when you first start something and let's put you in the in the place of one of your members.

So I've just signed up for your membership site. I'm super excited. I want to dive right in. And either way, if it's a community based membership site or if it is a knowledge based membership site, regardless, you have to have a clear foundation that everybody completes. So you have to have basically a base membership level so that you get all of your people on the same place or in the same place at the same time before they dive into the recurring content that comes out or the recurring conversations that happen in the, so you want everyone to make sure that they've bought in to whatever your foundational level is for your membership site. And what I want you to consider is making a clear success path. Now a success path is something that I learned from Stu McLaren who runs his membership site course called tribe.

And I will link to that in the show notes as well. But I wanted to just kind of adapt his concept of the success path for your members and what that means is basically bringing them in and starting everyone at zero and taking them through say 10 steps or however many steps it is to get them the foundation that they need to be able to proceed, proceed with the rest of your membership site, so you really want to get everybody on the same level and then allow them to grow from there and that is the beginning of your success path. Now obviously if you create a membership site that has multiple levels and all of that other fun stuff, then your success path could be many success paths all kind of combined together. But for this one, what I want you to think about is day one, I joined your membership.

What are the 10 steps that I need to complete before I'm like indoctrinated into your membership world? What are the things that you teach and the way that you teach them that I need to know right away in order to be able to be the most successful that I can be as a member on your site. And then the other thing is do you already have this content figured out? Cause if you don't have this content figured out, then you're not ready for a membership site. You really need to sit back and think about this and make sure that you're setting yourself up for success as well as your members because it's so easy to just start a membership site. But if you're not getting your members success, then they're just going to leave. And if they leave, then you've just spent all of that time trying to bring them in, get them indoctrinated into everything that you believe in, and then they are just going to bounce next month and that's not cool.

So you want to make sure that you bring them in and that you're really supporting them and giving them what they need to succeed. And if you already have that plan set up or even that content ready to go, then yes, you would be ready to start a membership site. So I'm going to do a quick recap on these quick five things that you need to consider before creating a membership site. Number one, do you have an audience? If you do, great. If you don't, then do you have a plan to grow your audience? In the meantime, if you have a plan, then great. If you don't have a plan, then that is the first thing that you should consider is creating a plan to grow your audience so that you have basically an audience to launch your membership site to.

Okay, question number two is who is your site going to be for? So we talked about that already. It's pretty straight forward. Question number three is can you build a site around your knowledge or could you build a site that is community based? And question number four is, are you prepared to take this on?

Okay, and question number five is do you have a clear success path for your members and content that will support them from day one? So I hope that you have been able to really think about all of these aspects of a membership, say and see if you are ready to get one started. If you are, I am going to open up my library of fun little PDFs and questions that I have for you guys. If you are ready to start a membership site and you can find the link to download those greaterthanbusiness.com/035 that is where you will see the show notes and at the bottom of the show notes page. As always, I have a basically a place where you can join my list and then get access to everything that you need related to membership sites.

That's it for today. I don't have anything else to really share with you regarding membership sites. I hope that you enjoyed this episode and I really hope that you are loving the podcast. If you are, please leave a review and subscribe on whichever source you are using to get your podcasts from. Most of you I'm assuming are iTunes, so please leave a review on iTunes and if you want to leave me personal feedback, please email me at flow@flowautomationinc.com and I will get back to you as always. So I hope you guys are having a great week and I will talk to you next week when I'm going to be talking about the type of content that you should be creating. So that one's going to be a fun one and I can't wait to talk to you then.

Greater Than Business Podcast – Episode 035

 

 

For the full podcast and show notes, please go to www.GreaterThanBuisness.com/035

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