How to Maximize your Revenue and your Impact

Today’s Top Pick Topics 👇

☑️ How to Maximize Your Revenue and Your Impact

☑️ 4 Core Pillars to A Winning Membership Model

☑️ Mind-Blowing Stats About Courses And Why They Don’t Work

How To Maximize Your Revenue and Your Impact While Optimizing Your Time

By: Jason Feltman

When I started my first business I spent years working 12 hour days.

I got to the point where I was ready to give up.

Then, it finally dawned on me that I had created my business to be a prison. This was a sobering realization. But, fortunately, I also woke up and saw that I had the power to recreate my business to set myself free.

On this path I discovered the most powerful way to create predictable recurring revenue without spending more hours on the hamster wheel…

The Membership Model.

Simply put, it’s leveraging the power of serving people in a one to many setting, rather than pouring more and more time into coaching people one-on-one.

I’ve heard from so many business owners that the thing that keeps them up most nights is not having a fool-proof predictable lead source, or predictable revenue.

If you find that you’re constantly worried about where your next client will come from, or how on earth you will be able to scale to hit the revenue goal you're hoping for, transitioning to a membership model could solve all of these common issues for you too!

I believe in this model because it is the domino that finally did set me free.

In 2021 my second business cleared 7 figures. Roughly a year later it cleared 8.

Have a guess at what skyrocketed our success?

That is right, we switched from a 1:1 coaching model to a membership program.

The biggest shift with this transition was seeing our client retention rates go through the roof. We had a 7x increase on our clients were sticking around.

From this space, we were able to better calculate the average retention rate and know exactly how many clients we needed to onboard each month to continue scaling to hit our revenue goals.

What we found with this “aha moment”, was that not only could we impact more people, we could also better predict our own growth and success.

You might be wondering how you can tap into this amazing growth opportunity in your business.

There are 3 distinct types of membership models:

#1 DIY - Do It Yourself

A low-ticket membership option - think paid newsletters.

#2 DWY - Done With You

A mid-tier program where you provide your clients with resources and support to solve their problem. Think group coaching programs with incredible deliverables.

This program model is where you provide your clients with resources (checklists, guides, frameworks, lists, pdf’s, step-by-steps, etc.) and then offer something like a 2x / month group coaching call where you brainstorm with the community on solving their core problem.

PS. If you’ve ever thought about launching a course - I can promise that a DWY membership is a better means to create better results for your clients. Afterall, we all need the accountability to follow-through on the steps of any solution.

#3 DFY - Done For You

A high-ticket, concierge style membership with loads of perks.

This model is a full scale service where the client’s core problem is solved with zero effort on their end. With this being more time intensive for you and your team, the cost of this membership is typically much higher, aka as a high-ticket membership.

People are much less likely to cancel something than they are to repurchase

Figuring out what type of membership program is best suited to your client is further explained in the article below.

4 Core Pillars to A Winning Membership Model

By: Jason Feltman

As promised, a deeper dive into the pillars needed to design a winning membership model for your business…

Like any new facet to your business, you want to make sure that your model is rock solid. There is no sense in putting in the time for something that might fall flat.

There’s 4 keys to unlocking a successful membership.

# 1 CORE

You have to know your core client and you have to know their core problem.

If you don’t you will have no idea how to reach them, or what they know to be their problem to the point that they are willing to invest in fixing it.

Once you can clearly identify who you are talking to, you can better understand where and how to reach them.

For example, when we figured out who our core client was for my insurance sales digital coaching business, it became easier to find and connect with them.

When we started having conversations with them it became crystal clear what their biggest shared problem was: SALES.

With this clarity and understanding we were able to get in front of them, speak their language, speak to their core problem and gain their trust.

# 2 THE DEMO

Like I mentioned in the example, their core problem is the thing that is holding them back. The thing they would love to have someone swoop in and magically solve for them. For our core client it was sales.

The best way to do this is give them a WIN.

For us, we gave them, for free a day with our telemarketing team.

They were able to capture dozens of new clients. More than any of the previous days they’d had all year.

This becomes a bridge that will take them from this demonstration of your expertise right into the offer they can’t say no to.

#3 THE OFFER

Without a compelling call to action and an offer they cannot refuse, again - your membership will fall flat. You will have put in a ton of time and energy for little to no conversions.

The best way to really ignite your core client’s desire to join is not only by building trust and demonstrating the power of your solution - but, by offering them something with SO MUCH VALUE that they are blown away and cannot say no.

They will see the path laid in front of them to get the help they need to reach their goal, and they will feel that it would be completely silly to not take advantage of the opportunity to work with you.

#4 CREATE A SUCCESS PATH

I’ve witnessed dozens and dozens of entrepreneurs use the same pathway to create massive success through 1:Many services.

When it comes to designing, marketing, and launching a membership program there is a defined path that we know works.

With the right core, demo, and offer you can create a success path to launching a membership program that has the potential to scale rapidly and unlock a freedom-giving revenue stream.

If you want to really hone these steps and how to design your own signature membership program I want to walk you through every step of this process that is completely FREE.

I believe in the power of this model so much and want to help entrepreneurs, like you, experience the transformational power it can have for their business.

To learn more check out our upcoming 5 Day Challenge at: bit.ly/3PkOjEB

We’ve heard many coaches and consultant day dream about creating a course to generate passive income. In theory, course creation can be a good way to share your expertise with a large audience. But, what does the data say about course creation?

North America holds 38% of the global e-learning market share.

If you are aiming to reach a North American, it’s important to note that of the total market share for e-learning courses that covers all industries and niches - North America only constitutes 38% of the total market share. Depending on how highly specialized your niche and target client is - this could actually make selling your course more challenging that you might initially imagine.

In 2021, over 127,414 online courses were created on Kajabi alone (a digital course platform)

This is one platform, in one year. This data indicates that online courses are becoming a more and more heavily saturated market. To this point, how will you ensure your course stands out to others, or possibly hundreds of others in the same, or similar niche?

The average course price across a cross-sectional study was $137

Some of the folks we’ve worked with have anticipated selling their courses for much higher than $137. So, if your idea for a course includes a heftier price tag, you want to be mindful of the average amount the market is willing to pay for online courses.

The industry with the highest average course price at $234 is Business & Marketing, with Career Development coming in a close second at $220

More great information for understanding averages and price points for your course. People can often have more success by dropping the price of their course below industry average, or even giving their course away for free as a lead magnet and means to get more clients into their world, build trust, and create an ascension offer on the back end.

Course Marketing is the biggest challenge faced by creators. In fact, 79% of the respondents to a recent survey said that marketing would make the biggest difference to their course business

Selling a course can end up being much tougher than you’d imagine. This isn’t as big of concern for creators who already have a massive audience. But, for course creators who have a small or medium size audience - the client acquisition cost for creating a course can sometimes far outweigh the time required to create it.

At the end of the day, we’d all love to unlock a passive revenue stream in our businesses. But, it’s critical to develop a deep understanding of your core client, know what their core problem is, and create a solution for them that will actually solve their problem.

Let’s be honest, if the people who bought your course were guaranteed to follow all the steps you carefully lay out - they will likely solve their own problem with your digital guidance… but, how many people are going to follow it to the letter? And, how many of those people are going to implement?

This is where, in our opinion, creating a membership model is superior to course creation and passive course selling.

If you have experience in this, or questions about our upcoming challenge - drop us a line by hitting REPLY!

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