FL 60 – Why you should offer a membership or recurring subscription in your Online Business

Today we're talking about a shift we've made in our online business and we think you should consider in yours, the recurring subscription model. We're going to cover how to create memberships around your digital products, so you can lower the time you spend yet increase your income. When you really start doing the math comparing the launch model versus a membership model, launches are very unpredictable as human nature is not easy to determine and/or predict. It's a little more work upfront, but once you begin things do not take as long to maintain the membership site. Membership Sites = Consistent Income We consistently make money everyday for work we have already done while interacting and providing value to the members. You will learn from your customers as you participate with them and what they are looking for. (we aren't just sitting on a beach somewhere after the membership site goes live) With Membership sites there isn't the stress of depending on a lot of sales from a launch but planning what you can do to guarantee or test more sign ups. With cash forecasting we're now able to have an idea of the income we'll be making in the future. It is important to make sure you have all of your systems in place before starting the membership or recurring online business so that you don't have to spend many hours a week working on it. [Tweet "The Launch Model is Broken"] You will learn How to Provide Value to Your Members Major Benefits of a Membership Model Turn Rate is more predictable with a subscription based model Accessible anywhere online Get to know your customers better Build a relationship with your members Common Questions about running recurring business models How many products do you need to start the membership business? Links and resources mentioned in today's show The Flip Your Life Community Tropical Think Tank Chris Ducker The new business podcast James Schramko SuperFast Business.Com Jeff Walker Enjoy the podcast; we hope it inspires you to explore what's possible for your family! Click here to leave us an iTunes review and subscribe to the show! We may read yours on the air! You can connect with S&J on social media too!   Thanks again for listening to the show! If you liked it, make sure you share it with your friends and family! Our goal is to help as many families as possible change their lives through online business. Help us by sharing the show! If you have comments or questions, please be sure to leave them below in the comment section of this post. See y'all next week! Can't listen right now? Read the transcript below! JOCELYN: Hey y'all. On today's podcast we're going to tell you about why you should offer a membership or recurring subscription in your online business. Welcome to the Flipped Lifestyle podcast where life always comes before work. We're your hosts Shane and Jocelyn Sams. Join us, each week, as we teach you how to flip your lifestyle upside-down, by selling stuff online. Are you ready for something different? All right, let's get started. SHANE: What's going on guys? Welcome back to the Flipped Lifestyle podcast; great to be back with you. We've had a great last couple weeks. We are hack-free as far as we know, cross fingers. JOCELYN: Don't speak too soon. SHANE: Don't speak too soon, but we've finally got our feet back address and we are feeling like everything is back under control, so we are really excited to be able to just focus on you guys and help you take your online business to the next level, deliver some great content and not have to worry about the giant dumpster fire that was the hacking incident, basically. JOCELYN: Again, don't say that too much. I'm scared. SHANE: Fingers crossed, okay? Today we're going to be shifting gears a little bit, not just in our podcast content, but we're going to be shifting gears in our online business. A few months ago,