Shane And Jocelyn Sams On How To Set Up A Recurring Income Business Using Membership Sites
Resources Mentioned
- http://productiveinsights.com/hire
- https://flippedlifestyle.com/
- https://elementarylibrarian.com/
- Instagram: @flippedls
- Twitter: @flippedls
Books Mentioned
- Start With Why – Simon Sinek
- The Pumpkin Plan – Mike Michalowicz
- The Membership Economy – Robbie Kellman Baxter
- Virtual Freedom – Chris Ducker
- Profit First – Mike Michalowicz
Related / Mentioned Podcast Episodes:
- 001. Neil Patel (Kissmetrics Founder) On How To Make Better Decisions Around Client Selection, Branding and Investing
- 002. James Schramko On How To Use The Recurring Income To Maximise Profit And Fund Your Perfect Lifestyle
- 039. Podcasting for Entrepreneurs with John Lee Dumas
- 043. Membership Economy with Robbie Kellman Baxter
- 050. James Schramko On Frameworks For Business Profitability And Lifestyle
- 054. The 3 Keys to Community Building, Authenticity & Long Term Business Success — With Mackenzie Fogelson
Key Points (Timestamps)
- 00:49 — Intro and overview
- 02:02 — Shane and Jocelyn Sams’ take on the importance of recurring income
- 03:09 — Hunting vs. farming an analogy for the launch model vs the retention model
- 04:00 — The incredible insight for Shane & Jocelyn Sams’ from @flippedls in year 2 of their online business
- 04:49 — Lumpy income makes your business less saleable
- 05:30 — Why @flippedls likes the future Income Report – Infusionsoft
- 06:28 — Growth rate comparison – Launch model vs. Recurring income model
- 07:38 — Why your mindset has to change with the recurring revenue mindset
- 09:09 — How to set up a recurring income business and lessons @flipppedls learned
- 10:50 — How much content do you need to start a membership site?
- 11:52 — The surprising truth about @flippedls when they started their membership site
- 13:10 — A good case study on creating a membership business with @flippedls
- 14:51 — How many members must you have before do you decide to launch your membership forum
- 15:23 — How much time do you need to spend in membership forums?
- 16:58 — How to grow your #membership forum just after launch?
- 17:30 — Your #membership forum is only ghost town if you let it be
- 19:21 — @flipppedls have systems in place to ensure they’re driving content back to forums
- 20:22 — Be careful not to mislead your audience — are you a personal brand or a #business brand?
- 23:23 — Are Facebook groups a good place to test #membership forum ideas?
- 25:17 — Why Shane Sams from @flippedls doesn’t focus too much on #socialmedia
- 27:56 — You pay with money or time but either way you pay #business
- 28:33 — What’s your effective hourly rate and are you ripping yourself off? @flippedls #business
- 29:31 — How to use your effective hourly rate as a yardstick for deciding on your tasks #business
- 30:06 — Most common challenges people face with creating #membership business
- 32:00 — How do you decide how much to charge for #membership business ?
- 34:31 — What actions can you take to get your #membership site set up with @flippedls
- 35:40 — The goal of the #membership model is to create forever customers
- 36:36 — The books that have impacted Shane and Jocelyn Sams from @flippedls
- 40:36 — How to get in touch with Shane and Jocelyn @flippedls
- 41:46 — Final thoughts on #membership models and #recurring income
