Creating Passive Income Strategies within YOUR Business just makes sense…. but how?
Membership sites or membership programs are one way that you can build a steady stream of income! This article focuses mainly on the idea of membership sites… not sure how YOU can create a membership program in your business — set up a strategy call. I am a master at creatively coming up with effective membership strategies.
Membership sites are one of the hottest trends on the Internet today
Entrepreneurs in a wide range of specialties are learning how to leverage their time, information and clients into an ongoing income stream that keeps adding to their bank accounts month after month– passive income. If you’ve haven’t started your own memberships site yet, here are five good reasons to get started today. Passive income isn’t just a good idea it is a business sustainability strategy!
1. Passive income creates predictable security.
You can spend your time working with clients on an individual basis and then searching for new clients on a daily basis. But you can create the solutions through content and share it with lots of people at the same time and increase your revenue with less work and less repetitive work.
Creating a membership site is the perfect way to generate passive income. With an auto-responder, you set up your content one time and then distribute it on an ongoing basis to your members without lifting a finger. Each month you upload that month’s content and through your membership site, every member has access to it.
2. You can add products to your membership site for additional passive income.
You can add digital and physical products for sale to your members and create more sales without having to sell through a list or drum up new prospects. You already have all of your members’ information within the site, so making new sales is a piece of cake. Members will be inclined to purchase products at your recommendation, because you have already established a bond of trust and because they can do so at the click of a mouse.
Look here at Compass Rose Consulting — I created a “STORE” that offers products that are one time fee products, free reports and courses and paid memberships .. they are a lead in for membership or an addition to membership….. Either way they INCREASE income~!!
3. Split the work and share the wealth.
You can offer your members an income opportunity by creating an affiliate program for the site. Members can earn a percentage of the profits by recruiting new members to join. Because they are selling with the additional power of being satisfied customers, current members are a perfect choice to do your affiliate sales for you and spread the word about your membership site.
4. If you do it right, you really can work less and earn money while you sleep.
We all hear it and secretly wish we could find it- that magical way to earn more and work less- ever since we were teased with the idea of a Four Hour Work Week. A membership site may be as close as you can get to truly passive income – and that can buy you the one thing you want more than money – time. Time to spend with your family, time to have some fun, time to work on dream projects.
If you find the right niche and create a quality membership site, you can make a lot of money. If the price of membership is $40 and you have 100 members, that is $4000 dollars a month. If you have 1,000 members – it’s 40,000 a month. With $40,000 coming in every month, you really can afford to lie on a beach somewhere and work from your laptop.
5. Membership sites have a long life span.
If you create a growing membership site, you’ve got a long-term stream of income – as long as you continue to provide quality content to your members. In Bizology we have updated the original content and added new content… it is an ever growing resource for business leaders.
Look at your business and how you can create a membership program within your company. What are the possibilities? Don’t just read the article but take action that makes sense for you.
How can YOU create a membership program in your business? What is the right price point?
All of these questions are answered in Club Building. Be sure to take a look.
Create Your Club or Membership program
Access the complete Club Building program including the step by step training with guides, action plans and checklists.
In addition, access the full E-Learning Playbook — complete video course on building your membership learning center.
In addition to the E-Learning Playbook, you will have a complete Guide and Workbook.
Building a Club or Membership can help you to create the recurring revenue that you need.