In their pursuit of recurring revenue, most online entrepreneurs choose to offer membership sites with low admission prices.
Their goal is to get thousands of members (who are paying peanuts).
In my business, I go with a different approach.
First, my main recurring revenue comes from my hard copy newsletter, Secret Coach Club, instead of a membership site.
And I keep the bar much higher than 10 or 20 bucks a month (the price of admission is $97/month, or $997/year to play in my world).
I'm taking my cues from Al Capone, who said:
"I’d rather have four quarters than one hundred pennies”
(The funny thing is I have more subscribers at $97/month than most of the membership sites that are charging a lot less)
It takes a mindset flip since so many gurus are telling you that you need an entry-level membership offering and programs that only cost peanuts.
But if you consume Secret Coach Club every month you'll start thinking differently - you'll gain confidence to charge more for your offerings, and you'll have a lot more fun doing it.
The May issue goes to the printer tonight, so the deadline to get in is at midnight (EST).
Subscription info here:
Marc Mawhinney