Membership Empire: Recurring Home Business Model
- Lectures: 40
- Video: 2.5 hours
- Skill level: Beginner
- Instructor: OMG – Mastermind
- Last updated: 1/2017
Watch this free Udemy video course and Learn How To Start Your Very Own Recurring Membership Home Business And Get Paid Month After Month
- You should be able to use a PC at a beginner level
- Should have a strong desire to build recurring revenue streams
- Must have the proper mindset and be willing to take action
- No prior experience needed
Why Membership Sites Are Perfect For Passive Income?
If you’re interested in making money online, then it’s probably because you like the idea of having more freedom to live and work wherever and however you want. The benefits of working online are many and varied and extend into every aspect of your life.
But in order for you to make the very most from this way of working, you also need to make sure you choose the perfect business model. Working online on its own does not necessarily equate to an ideal lifestyle; rather the benefits come when you work online in the right way. And let me tell you: creating a membership site is definitely the right way.
Working online is easy. If you are in a job that’s fairly flexible, then you should be able to ask your employer if you can work from home and simply log into the company’s network whenever you start working. And sure, this will bring some benefits: you’ll be able to stay in bed longer and stop commuting and you’ll have the luxury of being able to drink tea, listen to music and generally create a comfortable environment.
But you’re still ultimately a slave to your job. You’re still trading ‘time for hours’ and you’ll still need to be available for the hours between 9am-5pm.
You’ll probably also need to be near the phone and you’ll be expected to output a certain amount of work every day. That means you probably can’t leave the house and work outdoors in case you lose your internet connection. And it means you can decide to stop working for the day and visit a friend instead. Worst of all, you can still be ‘told off’ by your boss – reprimanded like a child!
The same goes for creating your own online business. If you’re a web designer for example, then you have the freedom to decide when you work on projects. But you probably still have deadlines and to all extents and purposes your clients are your bosses. If you fail to complete
This is why so many people find the idea of blogging desirable. All you have to do is to create and manage a website that you hopefully find fascinating and really enjoy writing about. You’ll get to experience a lot of the satisfaction that comes from running your own business. And you get passive income, meaning that you’ll earn money while you sleep. But even this isn’t perfect. Because one day, you might earn $200 and the next day you might earn $10.
It only takes a change to Google’s search algorithm and you can lose all of your progress. What’s more, is that it takes actually a huge amount of time to build up the amount of traffic that you need to make a big profit from a blog. This is especially true if you are planning to use pay-per-click advertising but it’s equally the case if you are selling your own product.
Think about it: how often do you click ads on other websites? This is why it typically takes 1K visitors for you to generate just one or two clicks and the same goes for sales of products. It’s a huge amount of work before you start earning anything and there’s no guarantee it will ever get to the point where it can provide a livable salary.
Enter: Recurring, Passive Income
This is where subscription sites come in and offer an incredibly appealing alternative. Essentially, a subscription site is a site that users pay to subscribe to. This normally works by first enticing the reader with some free content and showing them the kind of entertainment/information/value that you’re capable of providing. Once they’re hooked, you then make sure they know that they need to subscribe in order to gain access to your very best content and to get frequently updated.
So what’s so different about this? Well for starters, it means that you can much more easily convert visitors to paying customers seeing as they’re not having to put down a large amount of money and seeing as they know what they’re getting right away.
More importantly though, it means that the money is recurring and much more predictable. Unlike a regular blog that can very much fluctuate, having subscribers means you probably have some kind of agreement or standing order set up. This means that you can practically guarantee that you’ll be able to earn a set amount of money each week, month or quarter.
And that very quickly starts to add up…
So say you currently have people subscribing for $5 a month. If your content is good, then you could realistically convince one in every 1-10,000 people to sign up. But it’s very possible the very first person who visits might sign up! There’s an element of luck but as soon as you get that first subscription you’re in business – and $5 a month quickly adds up to $60 a year.
Eventually, you can work whenever you like and add as much content as you like (we’ll look at how later on) and still know for sure that you’ll be able to earn X amount of money per month and per year. This is very much living the dream – all the freedom of passive incomes but with all the security of a well-paid job!
Can people unsubscribe? Sure they can! But the likelihood of everyone unsubscribing all at once is incredibly slim and in most cases you’ll have more new visitors signing up than old visitors leaving.
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