Rick Burdo Here!
A Proud Disabled Veteran
that is Honor to Serve this
Great Country of Ours.
I Say, Thank You
To All Our Veterans.
God Bless America
When deciding on the kind of membership site you want to have, one of the biggest decisions you should make before doing anything else is whether or not to limit the membership period. By that I mean, how long the membership should last? Should it be an open-ended model or should it be limited by time? Whether you realize it or not, this decision will spell the difference between success or failure for your site.
What are the pros and cons?
First, having an open ended membership site means that you’ll need to provide content for members forever, or until you run out of information. In an ever-changing niche, like information marketing, you may never hit the limit, whereas if your niche is dog grooming, there’s probably only a certain amount you can teach. So often, your niche will determine whether your membership site should be limited or not.
Second, what about your time? Will it continue to be profitable for you to spend time creating content for your membership site? For example, if you do well in your industry, you might take on coaching clients that will pay you $100 or more per hour for counseling. If you have only a few members in your membership site, it may take you four hours to create the content you need each month. If you have only 10 members, paying $20 a month, the numbers don’t add up. You’re losing money creating content when you could be spending the time with a coaching client.
Third, consider whether a limited site will provide sufficient information. If your niche is continuing to grow and change, such as social marketing. Will you be able to provide enough information or will your information quickly go out of date? In the social marketing arena, new sites and opportunities for networking open every day. If you’re not on the cutting edge, you’re yesterday’s news.
Fourth, decide how much money you want to make with your venture. Can you make it evergreen so that the information will always be valid so that you continue to earn money from your site forever, with just a bit of promotion now and then? Or, can you continue to dump members into the site, and offer higher and higher levels of membership, so that your revenue stream continues to grow over time?
Fifth, will you want to sell your membership site in the future? Either model will allow you to sell your site, of course, but if you have a passive mode of income that never stops, would it be wise to sell and have that income end? Or, if you have a limited amount of information in your site, could you sell it for a price high enough to make your work worthwhile?
There are many decisions that should be made before you decide on how your site will be constructed. Perhaps the biggest thing to consider is whether or not you have a list. Without your own sizable list, it becomes very hard to maintain members in the membership site. But after you have the list, the next important consideration is whether or not the site will be finite in information or open-ended. Making a wise decision in this area could mean the difference between success and long-term frustration.
Tellman Knudson, CEO of OvercomeEverything, Inc., is a master list builder and well-known for his List Building Club. Tellman teaches students how to build a successful online business. Create your successful business from his step-by-step videos at: http://www.sendaemailaday.com/lbc
To Your Success
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