Which One Of These Four Membership Types Suits You?

MWH 227 : Which One Of These Four Membership Types Suits You?

Which One Of These Four Membership Types Suits You?

Have you ever wondered what would become possible for you if you were to have reliable revenue in your business every month? What would that do for your business? What would that be able to do for your household? That's what a membership can bring to the table.

Memberships can do just that – provide you with a regular income. You may have seen that memberships and subscriptions are popping up everywhere at the moment. That’s because they are an incredible way to serve people online. We live in a digital era. That means everyone’s attention is going to continue to move into the online space.

People are constantly looking for better ways to do things in their life. Whether it's a new skill to learn, ways to automate and streamline… Even the basic everyday needs and wants that they have in their lives without having to leave their homes.

During this episode, you will gain clarity about what a membership could look like for you and for your business.

THE TRIBE EXPERIENCE

This week’s episode is brought to you by the TRIBE Experience. This is an amazing, highly transformative, online course co-founded by Stu McLaren.

He’s not only my mentor and the guy who taught me everything that I know about online memberships and subscriptions… He’s also the go-to guy, helping big entrepreneurs, authors, speakers, small business owners and everyday people take what they know and what they already do and turn that to a recurring revenue stream AKA a membership or a subscription.

The TRIBE experience literally changed my life and my business!

This April, Stu is going to be opening up that same course I took (which only happens once a year). I'm a massive advocate on what this course can do and what a membership can do for your life and for other people you can help. Consider how awesome it would be to be able to sell something just ONCE and then have that bring in reliable revenue month after month.

I’m subscribed to several memberships, some for my business, others for home life (like toilet paper subscriptions, a wine club, Netflix, Doterra, and I’ve even belonged to a house plant subscription). I’ve had my eye on joining a monthly cheese club…. Have a think about all the monthly subscriptions that you are part of. Memberships are everywhere. They are all around us!

Here at Mums With Hustle, I’ll be dedicating this month of April to serving you all things memberships and subscriptions. I truly believe that this is a powerful way to welcome that business stability and predictability. It relieves you from so much overwhelm that business owners experience when they are constantly promoting something in order to get the sale.

MUMS IN BUSINESS WHO JOINED THE TRIBE EXPERIENCE AND LAUNCHED THRIVING MEMBERSHIPS

Last week in the podcast, I had Jessica Donovan join me. Jessica is one of my Inner Circle Mastermind ladies. She has done Stu McLaren’s TRIBE experience course and she has a thriving membership with hundreds of women who are there to learn natural ways to improve their child’s gut health. If you haven’t listened to the episode, she shared a bunch of tips that you’ll want to scoop up when it comes to launching your membership.

Coming up next week, you’re going to be hearing from Liv Morgan. Liv is another member inside of my Inner Circle Mastermind. Liv sells physical products. She sells earrings that she designs and makes. She started her earring box subscription last year in 2019 after doing the TRIBE experience with us – myself and my husband and business partner here at Mums With Hustle, Karl Harris. We’re affiliates for Stu’s TRIBE Experience and we absolutely love it!

Liv joined TRIBE under our affiliate link. It meant that we could coach and guide her through the eight weeks of the TRIBE course. She also got juicy bonuses from us to help her have a successful launch as well. Liv has sold earrings for years at markets and also via her online store, but she’s very smart… She also invites her customers to join her membership and get earrings that pizzazz up your outfit and lift your mood every month!

There’s massive potential out there for you to incorporate recurring revenue into your business. It’s not only for those with online businesses either, so please stay open to the idea of having a membership or subscription.

To support you further, I want you to do 2 things:

  1. Go to mumswithhustle.com/tribe to get yourself a free seat in Stu’s live online workshop series. He’s doing three free workshops online starting on April 23, 2020. This is a once-a-year event so head over to the link, register and grab a free seat! If you still have no idea who Stu is, he’s my mentor and the man who has taught me everything I know about memberships.
  2. Search for the Facebook group named “TRIBE Workshop Pop-Up Group With Tracy & Karl Harris” and request access to my free pop-up Facebook group for all the mums with hustle who are going through this three part workshop together. It goes live today and will be accessible until April 28. Inside of this group, I’ll be sharing more about how you can start your own membership or subscription regardless of your niche or market! I’ll be in there doing live interviews and Q&As to help you implement the free workshop so that you walk away from the experience with clarity and transformation. You can request access to this group as of right now.

So onto today’s episode, I’ll be walking you through the four different types of memberships and by the end of this episode you’ll be able to identify which one is best suited to you!

WHAT ARE THE FOUR TYPES OF MEMBERSHIPS?

1. Service Membership

Service-based memberships can range from business-to-business in which you provide a service like accountant, bookkeeper or virtual assistant. There are also other services such as a hair blow-dry bar or car wash that have brand loyal customers and allow business owners to predict the overall revenue that is coming in every month.

Jen Bowers, a member of my Inner Circle Mastermind, has a service-based membership for her online business called Pink Pom Pom Social. She’s a graphic designer and branding specialist who has an incredible membership that she runs with a partner. They provide social graphics to small business owners and entrepreneurs with a gallery of over 5,000 images in exchange for a monthly membership fee.

Jen has taken one element of what she does and one pinpoint of her customer base of her clients and created a membership around that.

2. Product Membership

Shoutout again to Liv of By Liv who sells her earrings on her online store and has a membership for women who want new earrings every single month. Wine clubs, flower clubs, fresh produce which delivers weekly also fall under this category.

Sarah Williams of Framed! By Sarah, a friend of mine, has a monogrammed gift box membership. She currently has about 2,000 women subscribed. Every month, she sends these women a box of monogrammed fashion and lifestyle items with their initials like t-shirts, coin purses, sunglasses cases, coffee cups, make-up bags, etc.

3. Community Memberships

People will pay to be in a community of like-minded people. I know that there are book clubs out there, online communities for people who love to do art or online communities for people who have a particular interest or slight obsession with video games. There are literally community groups for everything.

There are also amazing paid membership for mother’s groups, mother’s circles, mothers who have a particular philosophy or belief system when it comes to mothering. Massive shoutout to Amberely Harris, another one of our Inner Circle Mastermind’s members. She has just very recently launched her membership, Maternal Instincts by Ameberly, where she supports breastfeeding mothers, whether you are new to breastfeeding, new to motherhood, all the way through mothers who are breastfeeding toddlers. She helps them overcome the physical and mental challenges that can come along with choosing to breastfeed.

Another example of a community-based membership is Christine Li, a TRIBE graduate as well. She has a membership called “Freedom from Procrastination” and her members are from all the walks of life and all types of professions who are supporting each other in overcoming procrastination. They’ve got this beautiful spirit of community that exists in all their members.

4. Knowledge Memberships

Knowledge-based memberships are where you teach your members a skill or you want members to be able to master something specific.

Top of mind example is my friend Levi Kujala, he has a membership for guitarists. He’s teaching people how to play guitar. His membership is booming at the moment with people on lockdown and they are turning into creative spaces of art, music, language and things like that. He has around 7,000 members, that didn’t join overnight. He’s been growing his membership for awhile.

Patty Palmer, who I met through the Mastermind with Stu McLaren, teaches art lessons that primary teachers can implement in the classroom.

Likewise Jessica Donovan, who was on the podcast last week, is a naturopath and she created a knowledge-based membership where she helps her audience of mums to improve the gut health of their children.

There’s Angela Sanchez who is in our Inner Circle Mastermind and owns a beauty business. She’s a beautician, a coach and mentor to other beauty-based business owners. Within her membership, she’s teaching them the tools to be able to grow their businesses, as well.

Casey Patch is one of the Founding Members of our membership the Social Method Society. She also did TRIBE with us last year. Casey launched her play-based learning membership and after only a year with it she’s got around 500 members. It’s currently bringing her around $6,000 in recurring revenue every single month. It enabled her to bring her husband into the business with her and they were able to buy their first home.

Also, massive love to Jazze Jervis who did the TRIBE Experience with us as her mentors last year. She launched her membership “The Calm Society” and she’s got about 200 members at the moment where she teaches mindset, manifestation, meditation and spirituality. She helps women to develop a strong sense of self and to be in touch with their highest self.

Of course, what I do at the Social Method Society is a form of a knowledge-based membership blended with community. So you can always do a blend as well!

WRAP UP

So there you have it… The four types of memberships – SERVICE, PRODUCT, COMMUNITY or KNOWLEDGE based.

Which one suits you? Which membership is calling out to you?

There are so many ways for you to incorporate recurring revenue into your business. Sometimes people can get fixated and think, “I don’t want to teach something” or “I don’t want a membership where I keep putting out content,” then those types of memberships may not be the right membership for you, girlfriend!

There may be something else that you can do and other ways you can satisfy your customers. I have not come across a niche in the TRIBE community that could not succeed without a recurring revenue stream in play.

Ladies, memberships do not have to be this big, scary, complicated things!

They don’t have to be this hamster wheel of content that you can’t get off of. It’s not adding another thing into your business that just adds more stress. If anything, it simplifies things. It’s a beautiful business model to consider and one that definitely changes lives, not just yours, but the lives of people that you get to serve.

Do yourself a favour and spend some time considering what recurring revenue can do for you in your business and what that money makes possible for you.

I know, for me, I’ve been able to help hundreds of women up-skill their marketing and grow their businesses. That has a further ripple effect on what becomes possible for their household, their families and our economies. I also love that I get to hire other women (and men) and help them feel fulfilled in their work and bring money into their households, too.

I hope you take advantage of the free training that is available this month by Stu. To do so, please go to mumswithhustle.com/tribe. Find the pop-up Facebook group, “TRIBE Workshop Pop-Up Group With Tracy & Karl Harris” that we have created for you. This is not just for members of the Social Method Society, this is open to the public.

Feel free to share this episode with your own audience, friends or anyone with a business. We look forward to helping you through the TRIBE Experience. Get registered in the workshop and we’ll see you over in the Facebook group!

Until next week my loves, stay happy in your hustle.

CONNECT WITH ME

Web: www.mumswithhustle.com
Facebook: @mumswithhustle
Instagram: @mumswithhustle
Twitter: @MumsWithHustle
Biz Club: MWH Biz Club

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About Tracy

As the founder and CEO of Mums With Hustle, I have the best day job in the world: teaching entrepreneurs how to grow their beautiful businesses online. When I started the business, that was everything I wanted, but since then, it has grown into something much bigger. Now, I get my joy from helping women find their zones of genius within a community that truly celebrates their success. I truly believe that when women choose to band together, we can do anything - and if you feel the same, there’s a place in the MWH community for you.

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