This is a great way to generate an income which will grow in time. For not too much outlay, you can establish a membership website so that you can have a work at home business. The site that you create must be something that you are knowledgeable about so that you can fire it up with your own brand of passion and style. After the initial hurdle of finding the niche that you are quite well versed in, it is time to find a payment processor which will ensure delivery of your product all day, every day. Once this is set up and in place and the recurrent cash starts flowing in, then the time to kick the 9 to 5 into touch will have arrived!
Although this could at first seem to look and sound like a great kind of dream, it is highly possible once your business model is established and running itself. It is not quick, but once mastered; the result is a deeply satisfying feeling – in the bank.
Here is how membership websites work:
People are attracted to your offer and subscribe to your membership site. You may have based your business model on discount coupons, physical information, software, digital information, or some other drip fed information that you are confident to supply, and they gladly pay you each and every month for it. It is now your job to drip feed your members new and vibrant information – the things that they perceive that they need – to keep them happy and continue paying you their monthly subscription.
You only need to produce the information product once and you can sell that very same material over and again with the membership business model. You can possibly limit the membership to an exact time frame, such as 3 months or one year, and still supply the membership to new potential customers which will save recreating material all the time. This can be continuous passive income at its best!
Here is a way to get a membership website going:
Make an exhaustive list of what you truly know and understand, or a subject which you have a feeling that you could become proficient at relatively easily. Remember that you do not need to be thoroughly skilled in the subject, but a good knowledge of a broad spectrum of the subject will do at first. A greater degree of skill can be acquired as you go along.
Do a thorough analysis and find out just which topics people on the net are prepared to pay their good money to learn about. If you discover a decent niche topic that agrees with your current skill set, then it just may be that you have discovered a real winner.
Decide on the amount of monthly information that you feel needs to be delivered to keep your members satisfied, and hungry for more. Think of the delivery method of your information, whether it be how-to screenshot videos, , audio interviews, pdf, eBooks, Question and Answer, PowerPoint displays, member-only webinars, etc. Think about outsourcing the material creation to free up your time and keep your creative juices going. Always over deliver and keep your subscribers happy with the content you deliver.
You can begin your membership website before you have created all of the information products that you will eventually send out, however you must bear in mind that is advisable to keep more than one step ahead of your subscribers to ensure that your time does not run away with you and you ‘forget’ to add new content. It is probably a good idea to stash a basic minimum of at least three months content ready on the site to give you enough time for emergencies.
A payment processor such as PayPal can be used to receive money from your new subscribers. Their terms and conditions are easily found on their website and they have great tutorials on how to get started. An auto responder service such as Aweber is also a great way to deliver new content to your customers, and once again, their site has a huge help desk.
Once you have set up the site and are operating on full steam, it is now the proper time to start with the promotion of your membership site. You should have at least completed full years information for your members, sadly though, your job isn’t finished yet. You will need to promote the site and urge subscribers to become just that! Never once stop in your quest to promote it because some of your subscribers will fall by the wayside and need to be replaced.
Having a membership website (or more than one) lets you produce one set of information and have a fairly reliable and continuous income. This recurrent income will be a very pleasing result of your hard initial labor in setting up your membership site in the first place.