Creating Recurring Income with Membership Sites Using the Magazine Subscription Model With Andrew Lock
I thought that we would talk about one of the ways, and I believe it’s the best way, online to get residual income. Sometimes this is referred to as recurring income or passive income. That’s money where you do the majority of the work upfront, and then you continue to get paid over and over again, without limit, just like a songwriter gets paid for writing a song. They get the royalties, and they continue to come in over the years.
What I find with membership sites, on any topic, is that people tend to sign up and become a member. When people sign up for membership sites, they join for the content and stay for the community. Click To TweetThat’s kind of a big breakthrough, to understand that. They think that they want the information, but actually, what they really want is to interact with, connect with, share ideas with, ask for feedback from, ask questions of, and so on, among other people who are interested in the same topic.
6 Steps to a Successful Membership Site
I’ve developed a blueprint with six steps that I think are very logical…A logical sequence of things that need to be done, with the ultimate aim of having this residual income, because that means a lot less stress in your life. It can also lead to financial freedom, because you know, you really can make good money from this. The steps are:
- Step #1 is to choose a topic.
- Step #2 is to pick a platform.
- Step #3 is to add content (and a community, if that’s relevant)
- Step #4 is to attract members
- Step #5 is to make money
- Step #6 is to keep members
If you take all of these steps, you’ll have a successful membership site.
Membership Site Platforms:
Real Fast Results Community
If you are diggin’ on this stuff and really love what we’re doing here at Real Fast Results, would you please do me a favor? Head on over to iTunes, and make sure that you subscribe to this show, download it, and rate & review it. That would be an awesome thing.
Of course, we also want to know your results. Please share those results with us at http://www.realfastresults.com/results.
As always, go make results happen!