Do you want to be busy or efficient in your coaching business? In this podcast, I give a very practical solution to help you achieve more freedom in a knowledge business by embracing the concept of membership and subscription models.
In this podcast, you will learn the following:
What are the 5 different models in a knowledge business?
Advantages and disadvantages of a “program” based business model.
Advantages and disadvantages of a “product” based business model.
What is a “product subscription model” and how does that work?
What is a “community subscription model” and how does this work?
What is a “platform subscription model” and why this is the ultimate?
Please take notes and share your learnings below this post.
I look forward to reading and replying to your comments.
The future is all about memberships and recurring models.
If you can build a knowledge business where 1000 people pay you $1000 per year, you will have a $1,000,000 per year business. This will give you the time and financial freedom.
But to achieve this, you need to learn all the nuts and bolts on how to create an offering where people will be willing to pay you $1000 per year.
To your freedom,
109 replies to "How To Build Recurring Revenue Models & Memberships To Improve Cashflow"
This is awesome. I always feel proud of bring a Diamond level member with ILH for lifetime 🙂
Even I am a diamond member with ILH and I would love to be associated with this community and Sidz for lifetime.
Its not just about building a business, its about a lifestyle of freedom.
Thanks a ton, Yashasri! Great to have you in our community.
Awesome Sumesh! More power to you.
#ilhdeeplearner #youcancoach
My best learning from this broadcast is power of community and yearly subscription for increasing our revenue it necessary to add or 4 model in our business
Great Takeaway, Pukhraj! More power to you.
I just love the way Siddharth simplifies and clarifies things. I have never been so curious to build a business around knowledge. Thank you Sidz.
I’m glad you found this learning journey valuable, Yashasri ! More to unfold.. 😉
Thank you Siddharth!
SIDZ – You could explain a wonderful concept in shortest possible time…
I had another opportunity to understand about the platform based Knowledge business. I will build by coaching business as mentioned by you in 6 steps
1. Find your Niche
2.Design a curriculum
3.Build your ECO system
4.Sell Membership
5.Nurture your tribe
6.Create multiple levels of membership – High ticket
Keep guiding the community
You are rocking SIDZ
REGARDS
B saravanan bs@brixen.co.in
Awesome Saravanan! Great Insights! More power to you.
#ilhdeeplearner
#youcancoach
Amazing solution for freedom business model.
Very well understood the concept of future is going to be memberships and recurring models.
Recurring revenue business and membership will improve cash flow live freedom lifestyle.
Platform based model will cover all the model to leverage the power of earning. Good learning.
I’m glad you found this learning journey valuable, Siva ! More to unfold.. 😉
Done..awesome message Sidz.
#ilhdeeplearner
#youcancoach
Thanks a ton, Akshay! Glad to serve you!
Great podcast. People are always looking for a place to belong. That’s why communities needed to find value and constantly learn together and grow. It creates a culture of being at a higher level.
Definitely building a platform subscription model is the way to go! Thanks Sidz.
Thanks a ton, Natasha! More power to you!
I’ve just joined Sidz community. What drew me to it was the idea of not just imparting knowledge but also giving the means to have it implemented. It’s hand holding all the way which is truly amazing. I look forward to this journey. Thank you Sid.
Thanks a ton, Swetha! More power to you!
#ilhdeeplearner #youcancoach
Do you want to be Busy?
Do you want to be efficient?
small amount of members buying continuously..!
coming new members to your net work….!
recurring income is better income…!
in this knowledge base business we need to have subscription model..
1. program based model…
2. product based model…
3. product subscription Model… it has high completion rate..
4. community subscription model…
5. platform subscription model… including above 4 models…
this is the future model to make to different from others..
by building digital ecosystem….
don’t sell the products sell them the platform…..
don’t go with the market build a unique model that make you different form the market..
these are my leanings from this podcast
thank you Sidz
Yours
Samba Siva Reddy Duggempudi
Personal Branding Expert & Digital Coach..
Awesome Samba! Great Insights!
#ilhdeeplearner
#youcancoach
-community building is the best gift to learners in information age
-increase members to increase recurring revenues
-creating side supporting business to support main business to increase members and engage them in the same environment of your own ecosystem
-product based courses have insanely low completion rate of courses
-when people pay higher money they pay higher attention and more focused to finish like in product subscriptions business model
-community membership has advantage of having g environment to scale
-platform based subscription .model is the merger of product based, product subscriptions, community subscription where everything is taken care to success of the learners like #ilh
-gamification is one of the method to keep members engaged and keep them recurring for various product
-to build platform based program there is path of 6 steps: Niche clarity, curriculum design, build ecosystem, sell membership not product, nurture ur community and improve ur products and creating .multiple level of memberships
Awesome Vilas! Great Insights!
What an eye-opening podcast, Sid!
The motto of my life have been Life Long Learning and I am having the best time of my life in the Internet Lifestyle Hub.
I have already been exposed to Programme, Product, Community Subscription and Product Subscription based models (have not we all?) but never realised the differences.
Thank you for the clarity, Sid.
#ilhdeeplearner #youcancoach
I’m glad you found this learning journey valuable ! More to unfold.. 😉
#ilhdeeplearner
#youcancoach
Seamless integration of techniques to evolve on sustenance and scalability elaborated wonderfully by Sidz to attain financial freedom by building digital eco system…
Platform subscription model with recurring revenues
Great Takeaways,Rahul! More power to you.
Learnings from this podcast
1. Create multiple sources of income
2. Have a permanent subscription based community model
3. Be efficient not busy
5 types of models
1. Program based model
live weekend workshops, 3 day boot camps
In this model engagement is very high but scalability is not much
2. Product based models
e.g., Udemy , coursera, creativelive.com
High scalability but customer experience and completion rate is very low
3. Product subscription based model
e.g., Netflix- very low price so not much valued
masterclass.com high price so completion is much higher.
4. Community subscription model
5. Platform subscription model
merging all 4
6 steps on how to build a model business with a recurring revenue model or a membership model
1. Find your niche
2. design a curriculum
3day, 30day, 90 day
3. build digital ecosystem following hackathon process
4. sell membership not only the products
5. nurture your tribe and get feedback to improve your products and customer experience.
6. create multiple levels of memberships within your community – High ticket membership model.
#ilhdeeplearner
Awesome Yogesh! Great Insights. More power to you.
#ilhdeeplearner
#youcancoach
Blown up knowing the various models working in the market, and also the shortcomings of those first 3. The idea of the community-based subscription model is fascinating and I would like to learn more about it the 6 steps with respect to my niche of Retirement Planning.
Thanks Sidz for sharing the whole idea that sets our futuristic vision.
I’m glad you found this learning journey valuable ! More to unfold.. 😉
#ilhdeeplearner
#youcancoach
First Podcast I’ve actually taken time out to listen to!
So many amazing insights.
Community based / membership model is the way of the future.
A platform subscription model encompasses product,program and community.
6 Steps:
1) Find your niche
2) Design your curricullum
3) Build ecosystems for your customers
4) Sell memberships more than products
5) Nurture your community and improve your products
6) Scale your business using multiple products
Awesome Vedant! Great Insights! More power to you.
#ilhdeeplearner
Mind blowing..bulbon moment
My takeaways
In order to gain efficiency & freedom in your business, best is to have a recurring revenue model. This model refers to a regular subscription rather than a one time payment. Hence, it reduces cost per acquisition while sustaining steady cashflow.
There are six revenue generation models in online space
1. Program based models like live workshops, bootcamps. They have high engagement and impact but low sustainability.
2. Product based model. Scalable but low completion rates
3. Product subscription model.
4. Community subscription model. Allows training, networking, growth & above all, human connection
5. Platform subscription model . One time product purchase gives you access to community. This is #ilh , Internet lifestyle hub
6. Combination of product+ community+ platform based model- future of online business. This will allow a business owner to generate income with fewer clients. Hope to use this model in my niche soon.
Six steps to generate business model no. 6.
1. Select a niche
2. Design a curriculum
3. Build an ecosystem.4. sell membership
5. Nurture your tribe
6. Create multiple levels of membership
#ilh #ilhdeeplearner
Awesome mindblowing podcast by sidz
Great. My learnings from this podcast is
If we want freedom then we have to go for recurring revenue model of business. Instead of a onetime payment, subscription model should be adopted to have a regular flow of income
To achieve that we need to have a
1. Concentrate on community building by providing value to their investments by offering various courses that add to their knowledge.
2. As the completion rate for the product based courses are very less, it is better to go for product, subscription model.
3. Community subscription model helps to training growth, networking and enhance human connection.
4. Gamifications aids to keep the community connected well.
The best business model would be to follow
1. Select niche
2. Curriculum design
3.build an eco system
4. Sell membership and nurture tribe
5. Create multiple level os membership
#ilhdeeplearner#
Awesome Anuradha ! Great Insights! More power to you.
#ilhdeeplearner
#youcancoach
My takeaways & understanding from this podcast-
????Membership leads to long term relation, credibility and result oriented community.
????5 types of models which impact effectively:-
1. Program based model which impact our perspective 360 degree but not knowing what’s our need make us enrol for anything or everything results in maximum learning but minimum implementation.
2. Product based model is only effective when the learner has clear focus & intention to learn deeply, though it’s saleability is high but completion rates are low because people lack focus not time.
Program based model, live session has high engagement, attention but product based model isn’t.
3. Product subscription model has higher rate of deep learning, higher conversions rate & higher saleability because when people pay they focus and attention is in-depth(affordable price is bonus add on). Hence product subscription based model proves that.
4. Community subscription model to get best value to be active in community to make quality network, H2H connection with growth minds.
5. Platform subscription model merging all the four above model, Everything under same roof to create results in best possible way by learning, connecting, watching and getting multiple services. This is the ultimate model I realised after listening to this podcast & glad to be the part of ILH community.
????Proven 6 steps to build revenue model & membership model you explained thoroughly here are:
1. Find your Niche.
2.Design a curriculum(online & offline model varies).
3.Build your Ecosystem.
4.Sell Membership(Not just product but membership).
5.Nurture your tribe(keep evolving & improving products).
6.Create multiple levels of membership – High ticket membership models.
Sticking to old ideology harness the growth, keep upgrading 🙂
Grateful to be the part of Diamond membership, As my growth & evolution is visible.
Regards,
Twinkle Lalwani.
Great Takeaways,Twinkle ! More power to you.
???????????????????????????????????? ???????????????? ???????????????? ????????????????????????????-
“There is no one path to achieving a goal especially in the knowledge business.”
-We can do workshops, webinars, WhatsApp classes & can build platforms
BUILDING MEMBERSHIP MODEL/SUBSCRIPTION-BASED BUSINESS
QUEST- SHOULD I WANT TO BE BUSY OR DO I WANT TO BE EFFICIENT? LIFESTYLE OF FREEDOM OR SAME LIFESTYLE TILL NEXT DECADE FIGURING OUT MONEY GAME
BOOK- MEMBERSHIP ECONOMY (ROBBIE KELLMAN BAXTER)
For better cash flow n profitability we should have a small group of students with a membership model. We’ll have a predictable business
The cost per acquisition of a student is only going to rise. Many people getting to ad game there’s a lot of advertisement. The cost starts to go up.
Solution- Build recurring revenue model or memberships
e.g- Netflix, Apple, Amazon
Whether we watch a movie or not we need to billed monthly
——-
In knowledge-based business (Training, Coaching, Consultation)
1.Program Based Model-
-Live online training, Weekend Workshops, Seminars
-It creates a deep impact on the audience
-When scalability comes there’s a cap to it.
2.Product Based Model-
– Info-product model
– It’s scalable but;
– Problem is customer experience and the completion rate is insanely low.
3. Product Subscription Model
– e.g- Netflix, Masterclass.com
– 180$/year
– The completion rate is much higher due to financial commitment
– “When people pay the premium they start taking more seriously”
– Higher Completion Rate
4.Community Subscription Model-
e.g- BNI
– People not paying for product Subscription but for community Subscription.
– Benefits- Networking, Training, Growth, Human connection
5. Platform Subscription Model-
e.g- ILH
– There’s an option to buy one-time purchase Product
– Program (live program)- FBI & HACKATHON
– Diamond Level (Product+Community Subscription model)
– In Netflix n Masterclass.com there’s no COMMUNITY
– In BNI there’s No Product.
– The model of the future is PLATFORM SUBSCRIPTION MODEL
– Encompasses PRODUCT+PROGRAM+COMMUNITY all 3 in 1
– Can start 500 Dollars per year
– If 1000 People paying 1000$ per year we’re getting 1Million $ nearly 7.5 crore INR
– 83000$/Mo X 70 =60LAKHS INR
– If you PROPERLY GAMIFY the things & give them the x-factor they’ll stay in the community n pay you recurring revenue.
———
6 STEPS ON HOW TO BUILD A KNOWLEDGE BUSINESS
STEP-1: NICHE CLARITY
STEP-2: DESIGN IS CURRICULUM
90days(goal)-30Days(Give Them Breakthrough)-3 Days (for a concept)
STEP 3: BUILD YOUR DIGITAL ECOSYSTEM
– In the next 3 months we’ll set the whole ecosystem
STEP 4- SELL PRODUCT & MEMBERSHIPS
-Sell both the product & Subscription
STEP 5- NURTURE THE COMMUNITY
-Get their Feedbacks
-Improve the products & customer experience
STEP 6- CREATE MULTIPLE LEVELS OF MEMBERSHIPS
-Within the community
-Ideally, high ticket membership to scale up
THIS WHOLE MODEL IS LONG TERM & SUSTAINABLE
-SARANSH SOURAV
#ilhdeeplearner
Thanks a ton, SARANSH! Your feedback really made my day! :). The more you invest time in learning, you will discover newer ways of refining your positioning & you are doing it.
Keep Inspiring!
#ilh deeplearner# ilh
In order to ensure consistent income it is, better to adpt a recurring income model of business
The course based product model completion has been, found to be very less and hence it is better to follow a subscription and community based business model.
The subscription based model helps to ensure regular flow of income. Proper training, networking and follow up can be implemented.
The sequence os steps to be adopted are
Find micro nicheclarity design curriculum, build an ecosystem, sell the membership at different levels, nurture them by providing guidance and support
Build
Great Takeaways,Lalitha ! More power to you.
This is going to be the FUTURE. Absolutely wonderful ????
Loved the concept. Loved the music as well ????
I wonder How do you record this podcast along with the music. What platforms do you use to merge it together?
Thanks a ton, Revanth !
Hi ,
Excellent Learnings on “How To Build Recurring Revenue Models & Memberships To Improve Cashflow”
I totally agree with your concept of blending all the 5 platforms as outlined by you in the podcast.
The future of the knowledge business will run on the recurring cashflow the business generates for you to be on the growth momentum.
Build a community with a blended concept of the 5 programs.
Excellent, you are a great visionary and plan well ahead for the future to be an early entrant with your creative ides. MPTY.
Great Takeaways,Mohammed! More power to you.
How To Build Recurring Revenue Models & Memberships To Improve Cashflow-
My Learnings From This Podcast-
There is no one path to achieving goals especially in a knowledge business you could be doing multiple things workshops, whatsapp classes, webinar you can build platforms. Moving things towards a community base and Memberships base model is going to truely give knowledge givers freedom V.s trying to just get more and more sales and acquiring new customers. If you can get a small number of customers to pay you again and again that is better than just getting new customers. Here you have much better cashflow and better profitability.
There are 5 types of models in a knowledge business-
1. A Program Base Model- Live trainings, live online seminars, workshops now we are seeing that’s also buzzing all over the place. Live experience creates very deep impact in audience and the program base model is always going to be there. When it comes to scalability there’s a glass ceiling that you’ll actually hit.
2. Product Base Model- A product base information product model the pioneer in this game are platforms like udemy, coursera etc. Problem in product base model is that even though there’s high scalability in that as compare to program base model the customer experience and completion rate in this model are insane and low.
3. Product Subscription Base Model- The completion rate in this model are higher than udemy and coursera because of the financial commitment. So when people pay more premium they end up taking that more seriously.
4. A Community Subscription Model- A community base model is for example BNI you got to be a part of that community you need to attend trainings and they charge some amount for you to be the part of that community. So you are not paying for a product subscription you are paying for a community subscription. There is also training element, networking element, growth element etc.
5. Platform Subscription Model- In this model you will get everything based on the previous models. Here is community + products + gamification + programs. The ultimate model for the future is platform subscription model that encompasses products, programs and community.
6 Steps On How To Build A Knowledge Business With A Recurring Revenue Model On A Membership Model-
1. Find your niche
2. Design A Curriculum
3. Build your digital ecosystem
4. Sell your membership
5. Nurture your tribe
6. Create multiple levels of membership
#ilhfamily
#ilhdeeplearner
#youcancoach
#icancoach
Awesome Mansha ! Great Insights More power to you.
#ilhdeeplearner#
The community based model of business as the subscription based model are more appropriate for the knowledge givers at present which gives, more freedom than the other models. This will provide better cash flow and profitability. the customer acquisition cost is highly increasing in terms of advertising cost, Facebook algorithm etc. It is important to build a community based, on subscription
5 types of business models are effective
1. Programme based models
2. Product based models
3. Product subscription based models
4. Community subscription models
5. Platform subscription model
The best model for the future is the platform subscription model.
Hence steps to build the knowledge business is
1. Identify your niche
2. Curriculum designing
3. Build digital ecosystem
4. Sell membership
5. Nurture your paid members
6. Provide multiple levels of membership to suit the customers requirements
Awesome Lalitha ! Great Insights More power to you.
Moving towards community based & membership based is important compared to getting new customers.
Cost of getting new leads have gone higher. Solution is to build recurring based model.
In Knowledge based business there are 5 types
– Program based training: Weekend based workshop. It creates a deep impact in the person. You can’t scale this model.
– Product based training: Udemy, Simplilearn has more scale but the completion rate is very low.
– Product subscription-based model: Masterclass is an example. Completion rate is higher due to the financial commitment. When people pay higher, they are more committed.
– Community subscription model: You are paying for the subscription of the community. BNI is an example. You must active in the community. There are training, networking and growth element
– Platform Subscription Model: Merge all the four. People can buy few products. Sid does hackathon for program. When you are building a platform along with community then magic happens.
6 Steps to build with membership model
– Find your niche
– Design curriculum
– Build digital ecosystem
– Sell your membership
– Nurture your tribe and improve customer experience
– Create high ticket membership and scale
#ILHDEEPLEANER #ILHFAMILY #YOUCANCOACH
Great Takeaways, Shekar ! More power to you.
#ilhfamily#ilhdeeplearner
#youcancoach#icancoach
Knowledge Business With A Recurring Revenue Model On A Membership Model-
1. Find your niche
2. Design A Curriculum
3. Build your digital ecosystem
4. Sell your membership
5. Nurture your tribe
6. Create multiple levels of membership
Great Takeaways!
There is not one single path to achieving a goal.
I can be doing multiple things like workshops, WhatsApp classes, I can build platforms.
Membership based revenue model.
5 different knowledge based business models.
6 steps on how to build recurring revenue model and memberships so that I can have lesser customers and more predictable cash flow in my business and more profitability as compared to chasing for new students or customers month on month.
Open my eyes to grow a new way of business.
Do I want to busy or efficient.
Based on some of the successful people
Membership Economy by Robbie Kellman Baxter, moving towards membership based model will truly give knowledge givers freedom versus trying to acquire more customers.
It’s easier to have lesser number of customers paying you again and again than acquire more customers.
Both are important . With existing customer you can have more predictability better cash flow, it’s like in Phases.
Inventory of advertising is limited, so cost start to go up.
So solution is to build , recurring revenue model and memberships.
Example Netflix, volume of customers they have, over all it is so much more stable, than onetime fee based model.
Apple even though they sell physical products , they have Apple Music, iCloud subscription based model.
Amazon Prime is a factor be in the subscription.
In Training, coaching, consulting in business model there are 5 types of model.
1st Model:
Program based model i.e. Live training, weekend workshops , 3 day bootcamps, it works , live experience it creates deep impact in the audience. When it comes to scalability , there is a glass ceiling with it.
2nd Model:
Product Based Model i.e. platforms like Udemy, Coursera, SimpliLearn, CreativeLive, Course Completion rate is really low on these platforms. Not everybody has finished the course. In this model scalability is more
If you are doing 1st Model , engagement level is higher and impact is more but scalability is a challenge
3rd Model:
Product Subscription Model i.e. Inventory of Movies, you just need to be on their subscription. There is a website called Masterclass.com , they do $2.7 Billion dollars/Year. They charge $180/year . Financial commitment. When people pay more premium , people take it more seriously. It’s such a low price point, people ignore it. Because it is subscription based higher completion rate. This is better than one time purchase model.
4th Model:
Community subscription Model i.e. Example : BNI . They charge x amount/year. You are charged just for community support. They charge annual fees. There is training element, networking element, growth element in this model. To get the best out of it one needs to be active in the community. There is a human to human connection and this makes it work.
5th Model:
Platform subscription Model: Netflix is a platform, Masterclass is a platform. Sidz has merged all 4.
Community:
InternetLifeStyleHub there is an option where people can buy products as one time purchase
Membership is where it’s light on people’s pocket to some products,
Sidz also does programs once every 3-6 months called FBI to incorporate live elements.
There is Hackathon where every week Sidz goes live every week and Sidz gives assignment pushes them from one mission to next mission .It’s game everyone is a part of.
There is an element on program model, product model.
Basically blended Model 3 and Model 4 are fused .
Diamond Membership is $2500/year .
Masterminds are much higher.
People when they come to diamond level gets access to community, programs, platform, products .if you can Think of platform based subscription model, that’s where the game is .
Netflix is product subscription no community to it. In Masterclass, there are amazing speakers but there is no community element. There is no body to speak to or connect to. If you look at a community subscription model like BNI, there are no products, there are no programs .
Ultimate model for the future is platform subscription model.
It’s a model encompasses product, program, community. You can start off at $500/year. If you have 1000 people paying you $1000/year, it’s $1Million/year in business. Even if I don’t acquire new customer and I am able to provide value and gamify it and give them a factor of stickiness to them and people don’t feel like living you have cracked the code.
6 steps on how to really a build a knowledge based business
1) Find your Niche –> sidz.co/join
2) Design a curriculum –> it’s slightly different from offline . 3 day , 30 day , 90 day concept.
3) Build digital ecosystem following the hackathon process. Over a span of 3 months you can build a subscription based model
4) Sell membership. Don’t sell products
5) Nurture tribe and paid members get feedback and improve product and customer experience.
6) Multiple level of membership inside the community ideally high ticket membership so you can scale it up further.
This is the process to build something long term and sustainable. Ultimately you shouldn’t be doing same thing 5-10 years from now.
Ultimately business should give you freedom.
Building a knowledge business model is more easier now. Don’t think only product , only programs . Think in terms of platform subscription model
#ILHDEEPLEANER #ILHFAMILY #YOUCANCOACH
Awesome Vijay! Keep Inspiring!
great knowledge of business plan
Thanks a ton, Satis!
Sidz has very nicely summarised the pros & cons of the various Business Models for the Knowledge Business in this Podcast. Here are my key takeaways:
Program based Model
– One time purchase
– Live training/ bootcamp/ seminar
– High engagement
– Personal touch
– Not scalable
Product based Model
– Live topics
– Not scalable
– Low price point
– Low completion rate
Subscription based Model
– e.g. masterclass.com
– Better completion rates
– Premium course content
– Higher price point & annual commitment
– Better course completion rate
Community based Model
– Benefits of being part of a community
– Advantages of human -to-human connection
– Opportunities of Networking
– Greater chances of course completion
Platform based Model: Internet lifestyle hub
– Hybrid model
– One time purchase
– Lifetime access to Basic product
– Live event every 3 months: Freedom Business Intensive
– Hackathon – Gamification: 9 Missions to be completed in 3 months
– Diamond level Mastermind subscription at $2500 per annum
– Platform access to courses, community, programs & products
– Netflix is only access to products
– Masterclass gives access to high quality Masterclasses from Subject matter experts. Downside is there is no community to learn from each other
– Future of e-learning
– Book recommendation: Membership Economy by Robbie Kelman
– What needs is the acquisition of quality 1000 customers who can give you 1Million Dollar
– Give a great customer experience
Six steps to build a Knowledge based business with Recurring Revenue Model:
– Finding a proper Niche is the key to succeed in the Platform based Model(check out Niche Clarity Blueprint with 500+ Micro Niches. Enrol in the Freedom Business Model to learn the system)
– Creation of quality Course Curriculum for online delivery of courses(3/30/90Formula)
– Build your digital eco-system within a span of 3 months
– Sell Memberships not
– Nurture your community
– Offer Multiple levels of members & scale the business
Building the Freedom Business Model is sustainable in the long term. Go for it! Being a part of the ILH Community, I can vouch that Sidz adds tremendous value week after week. The community is highly supportive in nature. Learning is a daily process with Meet-ups happening in the community. If you are a knowledge giver considering taking your course online, Sidz is the best teacher you can ever get.
#ilhdeeplearner
#youcancoach
Great Takeaways, Rama! More power to you.
From
Book mentioned: Membership Economy by Robbie Kellman Baxter
Moving things towards a community based and a membership based model is going to truly give knowledge giver’s freedom Vs trying to get more and more sales and acquiring new customers.
– If we can get a small number of people pay us again and again and again, that’s better than getting new customers.
– We have to build recurring revenue model.
– Some of the biggest companies in the world, like Netflix, Apple, Amazon, they are thriving on membership.
– On Netflix, whether we watch a movie or not, we will be billed on a monthly basis. It may seem like a small amount like say ₹ 500-600 but over a period of time, with the volume of customers that they have and with the predictable cash flow, (though there may be a drop of rate) but overall if you see, it is so much more stable as compared to a onetime fee model.
– Even if we look at Apple, even though they sell physical products, they have subscriptions for many of their digital products. Everything is moving in that direction.
– They have built hardware products to eventually hook people into their subscription based products. And this is the same with Amazon. Whether they would buy the products or not, they would want to be in the subscription system.
5 different models in a knowledge business:
MODEL-1 : A PROGRAM BASED MODEL:
– LIVE Trainings, LIVE Online Seminars, Workshops, Weekend Workshops, 3 Day Bootcamps, etc.
– Here the live experience create a deep impact in the audience.
– It is a one time purchase where people attend the meeting and they leave.
– And if they want to come back for the training, they will have to again pay.
– PROBLEM: There can be a scalability problem in this model.
MODEL-2 : A PRODUCT BASED MODEL:
– Pioneers in this game are platforms like Udemy, Coursera, Simplilearn, etc. and in the Creative sector, there is CreativeLive.com where they teach all types of live creative topics.
– Here the scalability is more.
– It’s a one time purchase tp get the product for a lifetime, which we may use it or not.
– PROBLEM: Even though there is a high scalability as against a program based model, the customer experience and the completion rates are insanely low.
– On Udemy, only 5% of people complete courses, though there are 30-40k students who have taken up the course.
But the engagement in a Program Based Model is astronomically higher as well is the impact!
So we should see the factor through which we can bridge both of these.
MODEL-3 : A PRODUCT SUBSCRIPTION BASED MODEL:
– E.g.: Netflix. They do have ready made products in the form of movies in an inventory. So the product is there and we just need to be there on the subscription.
– @ MasterClass.com, they do roughly 2.75 BILLION DOLLARS PER YEAR.
– They charge people $ 180 per year for people to get access to the master classes of the best of the best in the world.
– With that as a price point, the completion rate is much higher than Udemy and Coursera because of the financial commitment that is much higher here.
– When people pay MORE PREMIUM, they end up taking it more seriously; While on the Netflix = $ 10 / ₹ 500, which is at such a low price point, that people don’t take it seriously.
– Here one is ‘IN’ the subscription until one cancels it.
BENEFITS OF THIS MODEL:
– There is a higher completion rate.
– And because it is a subscription based model there is a higher completion rate.
– So this is better than the one-time purchase product – based models.
MODEL-4 : A COMMUNITY SUBSCRIPTION MODEL:
– E.g.: Like BNI [Business Network International] and other educational organizations that charge an annual membership for us to be a part of their community.
– Here you have got to be in their community which has its own benefits. To get the best value out of the community, we have got to be active in the community.
– You have to attend their trainings
– They have an attendance policy
– So there is a training element, networking element, growth element, and many other aspects that make it work.
– There is a human to human connection also, even if it is in the online space.
– They charge X amount per year for us to be a part of their community.
– So here we are not paying for a product-subscription, we are paying for a community subscription.
MODEL-5 : A PLATFORM SUBSCRIPTION MODEL [AN ULTIMATE MODEL FOR THE FUTURE]:
– This model is a merger of all the above four models, i.e., it encompasses PRODUCTS, PROGRAMS and COMMUNITY SUBSCRIPTIONS [3 in 1]
– We can have a community like ILH in which people can buy products as a one time purchase.
– So there can be a membership that is not on a subscription model, where it will be easy on the pockets and people can get in and get a lifetime access to a few products.
– We can also do programs once in 3-6 months like the FREEDOM BUSINESS INTENSIVE which is an integration of all of the live elements to get that.
– We can run something like the FREEDOM HACKATHON where every week we can go live, we can give assignments to the members, a game that everyone plays and then we push them from one mission to the next mission. So there can be like 9 missions that people can complete. So we thus have an element of the PROGRAM Model and an element of the PRODUCT Model.
– Then there will be a merger of the models 3 & 4 : PRODUCT SUBSCRIPTION & COMMUNITY SUBSCRIPTION.
– So there is a community element will be there. Like in Sidz community, in the DIAMOND MEMBERSHIP LEVEL, members pay $ 2,500 per year.
– Some memberships like the Masterminds, they charge higher.
– But when it comes to online platform subscription based model, like in the DIAMOND MEMBERSHIP, they get access to the PLATFORM, COMMUNITY, LIVE PROGRAMS and PRODUCTS.
– So when we will think on the bases of Platform Based Model, that encompasses a community building element and that’s where the game is.
– Eg.: Netflix is just a Product Subscription. There is no community there.
– Eg.: Masterclass – Even here, though they have premium content and make so much money per annum, there is no community element out there. You just have to learn and learn at your own pace, there will no one to speak to or connect with and no gamification.
– Eg.: BNI – In this community subscription model, there are no products out there! It is purely based on networking and live training/programs on training, etc.
– Book mentioned: Membership Economy by Robbie Kellman Baxter is a wonderful book
– If you can build a knowledge business where 1000 people pay you $1000 per year, you will have a $1,000,000 per year business = ₹ 7 CRORES per annum.
– = $ 83,000 per month x ₹ 75 conversion rate = 60 LACS per month business.
– If we don’t acquire a single new customer after we have achieved this, as long as we are able to give them a great customer experience, within the platform, we gamify and give that factor of stickiness where people don’t feel like leaving, we have cracked the code! We can do a million $ a year business with just 1,000 people!
– This will give you the time and financial freedom.
– But to achieve this, you need to learn all the nuts and bolts on how to create an offering where people will be willing to pay you $1,000 per year and have all the elements in place!
THE 6 STEPS ON HOW TO BUILD A KNOWLEDGE BUSINESS WITH A RECURRING REVENUE MODEL OR A MEMBERSHIP MODEL:
STEP-1: Find your Niche
STEP-2: Curriculum Design
STEP-3: Build Digital Ecosystem following the hackathon system where every week we will be putting something together. So in 3 months, we can build our own subscription based platform.
STEP-4: Sell our memberships into our platform and don’t just sell products.
STEP-5: We nurture our Tribe, Paid Members, Community, get their feedback so that we can improve our products and the Customer Experience.
SETP-6: Create multiple levels of memberships within our community, ideally a high-ticket membership model so that we can scale it up higher.
– We thus should aim at building a business that will give us freedom in life.
#ilhdeeplearner #ilhfamily
Awesome Uday ! Great Insights :)Keep Inspiring!
Ask yourself 2 questions
Q1 Do you want to be busy or you want to be efficient?
Q2 Do you want a lifestyle of freedom or you want to be doing same thing year after years and still finding yourself nowhere in terms of financial freedom ?
This podcast talks about Advantages of membership model vs working on sales in acquiring new customer …..
Few advantages of Membership model
_ more cash flow
_better profitability
_recurring Revenue model e.g Netflix ,amazon
_good volume of customer
_ Predictability of income
5 types of models
1)program based model
e.g weekend workshops ,seminars and bootcamps
Advantage ….more engagement in learning
Disadvantage …. scalability is low
2) Product based model
Eg Udemy ,Coursera ,creativeline.com ,simply learn
Advantage .….. Scalability is more
Disadvantage …..completion rate is low
Engagement in learning is less …
3)Product subscription based model
Eg Netflix / masterclass.com
Advantages in premium models …. completion rate of the program is more
Better than one time model
4) community subscription model
Eg BNI business network international
Advantages ….Growth+ human to human communication + Active members
5) Platform subscription model
Is Merged model of all the 4 model
This is the Model of future …
Advantage…. Freedom lifestyle
6 steps to build knowledge business
1) find your Niche
2) design a curriculum
3)Build your ecosystem
4)sell membership
5) Nurture paid members….take feed back and improve the products
6)multiple level membership to scale it up
#Join Internet lifestyle hub
# Build long term and sustainable business
#Aim at business that gives Freedom
#ILHdeeplearner
Well articulated!
Awesome Archana! Great Insights :).Keep Inspiring! Well articulated, Indeed!
Recurring Revenue Models & Memberships to improve cashflow
#ilhfamily
#ilhdeeplearner
#youcancoach
My learnings from this podcast…
Five models in Knowledge Business
1. Program-based biz model
2. Product-based biz model
3. Product-Subscription-based biz model
4. Community-based biz model — this is great as there is member-to-member, coach-to-member relationship, a large community is there to fall back, in times of need
5. Platform-based biz model — Business Model for the future — this is the ultimate Business Model
— 1000 members paying $1000 per year –it is like 60 lakhs per month (crazy)
Six step process
1. Niche Clarity
2. Curriculum Design
Build an ECO system
4. Sell memberships (not just products)
5. Nurture your community
6. Multiple levels of membership
Play around the 3- day – 30-day, 90-day system to nurture members and bring them up to scale.
– Membership Economy (book)- Robbie Kellman Baxter
Great Takeaways,Lalitha ! More power to you.
Thanks Siddharth!
Thanks for sharing such awesome information in simple manner.
I’m already a diamond member & gained some valuable insights from this podcast.
Thanks a ton, Quinten! Glad to serve you!
Listening the podcast just before the starting of the hackathon-03, so that I may be more concentric towards the goal of freedom finishing process.
As a diamond member, still I have not gone through all lessons. Think what may come as an outcome if I go through all lessons. Your structure of videos are amazing and able to transform ordinary individual like me.
Other course outside is only 5% of completion rate but ILH has much more completion rate but still people like me yet to go through the courses.
I will learn the things as early as possible.
Out of nine mission, I have to just attend my 2nd mission and therefore I will listen you live now.
Bye
I’m glad you found this learning journey valuable, Kantigiri! More to unfold.. 😉
My biggest takeaway from this podcast is to build my tribe and follow the system so that I too can build my own Platform Subscription Model because the future lies in this.
Thrive on membership.
5 types of model –
1. Program Based Model- live workshops, boot camps, etc. Engagement is much higher.
Scability is a factor
2.Product Based Model identifying, Coursera, Creative live,etc high availability but less completion rate.
Much scalable
3.Product Subscription Based Model Completion rate is higher in masterclass.com of best coaches. Paying more may lead to more commitment. Better than one time purchase.
-4.Community Subscription Model – BNI, Business Connect, etc. Networking, training and learning elements involved.
5.Platform Subscription Model – mix of all above model.
Mix of one time product, live programs, weekly, monthly event to boost and get commitment.
Subscription for premium clients, connection with community, get products, participate in live events.
(Products+programs+community) on subscription model.
Great customer service will do wonders.
6 major steps to acquire this
1. Find niche.
2. Design curriculum.
3. Build Digital Ecosystem.
4. Sell membership
5. Nurture your clients and community
6. Multiple level of membership and scale it.
Evolve and upgrade to grow in future.
#ilhdeeplearner #youcancoach #ilhfamily
Awesome Reecha! Great Insights More power to you.Keep Inspiring!
What I truly appreciate is that Sidz has a vision not only for himself but for the community as a whole. He truly believes to enrich oneself, one must enrich others.
Great Takeaways,deepa! More power to you.
#ilhdeeplearner
I love the line ” Small number of customers pay you again and again and again in membership business model “.
Better cash flow and better profitability is there in membership model. In open platforms like facebook and google one has to deal with a lot of advertisements and thereby competitors which eventually leads to increment in cost. But once the people are inside your community and you providing them awesome experience they will see value in you and will never leave you.
There are 5 types of model.
1. Program based model
It includes live workshops, live bootcamps, live seminars etc. The engagement is very high but the scalability is very low simultaneously.
2. Product based model
It includes udemy, coursera, creativelive.com etc. The scalability is very high but the engagement, customer experience and the completion rates are very low simultaneously.
3. Product subscription model
Some websites like masterclass.com provide this kind of model where people purchase more premium subscriptions and thereby higher completion rate is there. It is far better than one time product purchase model.
4. Community subscription model
Here people pay some amount per year to be in community and to have the advantage of training, networking, growth etc.
5. Platform subscription model
It is the amalgamation of all previous models. It has all the advantages of the models discussed back.
To build a recurring revenue model below steps are to be followed.
1. Niche clarity
2. Curriculum design
3. Digital ecosystem building
4. Membership selling
5. Nurturing of tribe
6. Creation of multiple level membership
Awesome Dhaval! Great Insights More power to you. Keep Inspiring!
Adding immense value is your Forte Sidz. It’s a great feeling to be a member of ILH community and a life long learner.
Great podcast on membership and recurring models.
Biggest takeaway is to build platform subscription business by giving 10x value to your customers using the six step concept:
1. Find Niche
2. Design the curriculum
3. Build your eco system
4. Sell membership
5. Nurture your tribe
6. Create multiple level of high ticket memberships
#ilhdeeplearner
#youcancoach
Great Takeaways,Maya! Your feedback really made my day! 🙂
Since the Platform based Business Model is the best and the future model for Recurring income , we have to see how it can be personalised to one’s own niche for best results. This will take time, but hopefully one can get there with a five year goal setting plan. As an English Communications Skills trainer, I need to figure out how to retain subscribers and members.Hopefully will get there with more experience. Having you as a mentor Sidz, gives me the confidence that it is achievable.
Thanks a ton, Surekha! Glad to serve you!
1. Select a niche
2. Design a curriculum
3. Build an ecosystem.4. sell membership
5. Nurture your tribe
6. Create multiple levels of membership
Wonderful insights
Great Takeaways,Sreenu ! More power to you.
My key learnings
6 steps to create a knowledge business that gives recurring income
1. Finding a Niche
2. Designing curriculum
3. Building Digital Eco System
4. Selling Memberships
5. Nurturing the paid members
6. Different levels of high ticket
To add on my own personal insight… a blend of our own creative pill in whatever model we follow. Keep trying and testing.
Best is to keep small potions of all models in a single plate!
Thank you Sidz!
#ilhdeeplearner
#youcancoach
Learning from the podcast:
1. What’s the different path to achieve goal in Knowledge Business?
Workshop, Whatsapp class, Webinar, Build platform, etc..
2. What’s the specific idea which is going to change the game of many people in knowledge business?
Membership based revenue model
3. What the advantages of this model?
#Lesser number of customers those can pay you again and again
#Predictable Cash flow
#more profitability in business
# no need to chase new members every month on month
# make you more efficient than busy
#give a lifestyle of freedom
#In future when more people in to the game and advertising cost going up, the especially cost per acquisition of new lead is getting higher and inventory is limited, this model is the ultimate.
Examples:
#Netflix subscription: you watch movie or not, you are going to billed periodically
#Apple subscription models, like Apple TV pro,Apple TV plus, Apple icloud subscription,Apple Music
#Amazon prime
4. Knowledge Business: Training, Coaching, Consulting. What are the 5 different models in a knowledge business?
Model 1 : Program based:
Advantages and disadvantages :
The live experience give a deep impact on audience, so the program based model always going to be there. But scalability there is limitations. Live training, one time purchase. if they have to come back to training again to pay.
Examples: Live training, Live online seminars, weekend workshops, three day boot camps.
Model 2: Product based:
Advantages and disadvantages :
Better scalability than program based model, customer experience and completion rate is very low. One time purchase and attend it on yourtime.
Examples: udemy, courseera, simplylearn ,creativelive
Model3: Product Subscription :
Advantages and disadvantages :
The completion rate is much more,because of the continuous financial commitment. this is better than one time purchase product model.
Examples: Netflix,masterclasses.com.
Model4: Community Subscription:
What is a “community subscription model” and how does this work?
Community ,have some attendance policies and rules and regulations and regular programs and they charge for being part of the community. Many Educational organization charge annually be part of their community.To get best value from the community, you to be active in the community, elements of training, networking, growth is part of it. there is human to human connection also. its also can do in online space. No products is there.
Examples: BNI (Business Network International), Many other educational organization & Social Organizations
Model5: Platform Subscription:
What is a platform subscription model?
Combination of all above four models.
Products available, programs periodically, membership for life time access to products, gone live with community members and set connection with members and gamification to achieve goal. When they come to the platform have product,program,community and can have access by subscription
Why this is the ultimate?
The Ultimate model for Future. The scalability is very high. Even, you are not able to add new members, if you can able to maintain the existing members, the income is predictable and steady with recurring revenue and membership model.
Example: Internet lifestyle hub
Book for Reading: Membership Economy by Robbie Kellman Baxter
What are the Six steps to build recurring revenue model and membership?
# Find your Niche
# Design Curriculum (3-30-90days Model)
# Build Digital Eco system
# Sell Membership
# Nature your tribe and Improve your products
# Create multiple level of Membership
My simple to the point learning, blindly follow sidz as he say and ask to do.
No Question ask… like in army its said…follow your senior.
This is amazing. I’m a diamond member of ILH and the breakthroughs that I’m getting every day is simply mind blowing. It has become so easy to think BIG for me now.
My learnings from todays class:
5 TYPES OF MODELS
1. Program based – weekend workshops, bootcamps
2. Product based model – Udemy, Skillshare etc.
3. Product subscription based model – eg: masterclass.com
4. Community subscription model – eg: BNI
5. Platform Subscription model – ILH
BOOK: Membership Economy – Robby Kellman
6 steps
1. Find Niche
2. Design a curriculum
3. Build digital eco system
4. Sell memberships
5. Nurture the tribe/ paid members
6. Multiple levels of high ticket memberships within the system and scale it up.
The podcast talks about future of digital experience delivery.
How & what are the best way to ensure a Freedom business model on the back of selling community membership and not just products. Selling platforms access, where like minded people can come together to share is the next thing in future.
Having around 1000 loyal repetitive customers for life is way better than inconsistent once in a blue moon high ticket purchases. As a business, we all need a steady-predictable cash flow promise. And just by nurturing the tribe it can be more fruitful.
Type of different models:
1.) Program Based Model ex: Live Training
2.) Product Based Model ex: Udemy
3.) Product Subscription Model ex: Netflix
4.) Community Subscription Model ex: BNI
5.) Platform Subscription Model ex: Internet Lifestyle Hub
#ILHdeeplearner
#youcancoach
Wonderful insights Sid, for a sustainable model to give more value to people we serve, My insight is “free yourself to serve people better”
If we have been doing a job or a typical offline business…
And then we get into the world of digital Coaching…
There is no doubt it will give us MUCH HIGHER SENSE OF FREEDOM OF TIME, WEALTH AND PLACE!
HOWEVER, THIS IS PODCAST IS NEXT LEVEL, THE FUTURISTIC PoV
What if we can figure out a way to achieve a true lifestyle of freedom using the right models: DO WE REALLY WANT TO GET BUSY or DO WE REALLY WANT TO BE EFFICIENT?
But, how?
That’s where the 5th type of payment model THE PLATFORM SUBSCRIPTION MODEL comes into picture!
I have created courses, communities and counselling systems using Internet Lifestyle Hub’s learnings, however all of this are right now being sold at a FLAT ONE TIME PAYMENT, however, this podcast opened up a new outlook for me to think of.
I just now figured out how can I roll out a MONTHLY SUBSCRIPTION PLAN for my existing courses, counselling and community! It’s marvelous to visualize what Sidz has said 1000 people paying $1000 per year!
I believe this is the TRUE FREEDOM … the TRUE LEAP TO THE FUTURE…
It’s time to follow the 6 steps consistently to reach the 1000 learners X $1000 Per Annum level!
Thank you so much Sidz ????☺
Srimaya thank you for sharing your views on this valuable podcast, thank you , I really feel blessed to get knowledge from you all , your points helped to think deep into different insights, it is too super valuable stuff . Heartiest thank you to you and Siddharth.
Excellent knowledge sharing, Sidz. Thank you. The 6 steps to forming a platform-based subscription model has been very well explained. I feel I need to enhance on selling your membership rather than product! Very valuble insight. Thanks Sidz, Cheers! Preetha
1) Find your niche
2) Design your curriculum
3) Build your digital ecosystem
4) Seel your membership and not product – This is what I need to start doing.
5) Nurture your community and improve your product
6) Have multiple levels of memberships and scale it up.
People are always looking for a place to belong That’s why communities needed to find value and constantly learn together and grow. It creates a culture of being at a higher level
Amazing solution for membership based model, very well understood the concept of future is going to be membership and recurring model
Recurring revenue business and membership will improve cash flow to live freedom lifestyle platform based model will cover all the model to leverage the power of learning. Excellent learning
do not depend upon the existing customers, add up new customers also
FIVE MODELS
Programs based model
– Live training / weekly workshop
– 3 days Botcamp
Product based model
– Live training / weekly workshop
– Higher scalebility
Product subscription model
– commitment
– higher completion rate
– master class
Community subscription model
– Training / Network elements
– community subscription
Plate from subscription model
– Marge all the above model
– Freedom Hackethon weekly
– this is future model
6 steps
– Find your niche
– design curriculum
– Build your eco system
– sell membership not product
– nurture your community / tribe
– create multiple level of membership – high ticket
Awesome!
Excellent sharing of great insights!! Chasing customers while very important, need not be an endless game.!!
Excellent valued information
I NEED SOME TIME FRAME TO UPGRADE
MYSELF FROM GOLD TO ???? DIAMOND
MEMBERSHIP HOPE YOU WILL COOPERATE
Thanks a ton, Valmik! Glad to serve you ????
The podcast was useful because it gave the idea of how one can create a subscription/ product based hybrid platform which can give recurring income model. Other aspects were also discussed.
????????
Amazing podcast Sidz. Thank you for explaining these subscription models. I am working on my courses and models – I am already benefiting from #ILH and this podcast will guide me on this….
Thank you Sidz.
Thank you Siddharth, for sharing so much important information-
5 Different Models with
Membership
1. Create multiple sources of income
2. Have a permanent subscription based community model
3. Be efficient not busy- Product Subscription Model
5 types of models
1. Program based model
live weekend workshops, 3 day boot camps
In this model engagement is very high but scalability is not much
2. Product based models -One time Model
e.g., Udemy , coursera, creativelive.com
High scalability but customer experience and completion rate is very low
3. Product subscription based model Higher Completion rate
e.g., Netflix- very low price so not much valued
masterclass.com high price so completion is much higher.
4. Community subscription model- BNI, Best value from the community, growth
5. Platform subscription model
mergied all the 4 , membership ,one time lifetime benefit for buying the product, freedom Hackathon, blended product and community are blended together .
Membership Economy -Products , Subscription and Community – Robbie Kellman Baxter
The Membership Economy is about a mindset, wherein groups are operating to construct long-term, formal relationships with their clients.
6 steps on how to build a model business with a recurring revenue model or a membership model
1. Find your niche
2. design a curriculum
3day, 30day, 90 day
3. build digital ecosystem following hackathon process
4. sell membership not only the products
5. nurture your tribe and get feedback to improve your products and customer experience.
6. create multiple levels of memberships within your community – High ticket membership model.
Long term and sustainable
#ilhdeeplearner
Awesome, Debasmitha.Great Insights! More power to you 🙂
Awesome poscast. Clear picture to setup and scale a knowledge business
6 steps
1. Find Niche
2. Design a curriculum
3. Build digital eco system
4. Sell memberships
5. Nurture the tribe/ paid members
6. Multiple levels of high ticket memberships within the system and scale it up.
More power to you, Shweta.
Thanks a bunch for providing repeated stuff for the sake of saving relationship
#ilhfamily #ilhdeeplearner
In the knowledge business, there are 5 kinds of models
1 Program based- you pay and attend programs. that gives value, but ends with that. It could be a live program or a virtual. It could be a short duration or a bigger duration. It is a kind of one-time affair. Effectiveness depends on the individual.
2. Product based- In different knowledge platforms there are courses available.
You can purchase and use them as you like. It is available for the lifetime like purchasing a book. Here the completion rate is notoriously low.
3. Subscription-based. – You could take the subscription and get benefitted of the membership. They don’t offer any product, but conduct professional courses from time to time. You also get benefitted from networking. Example BNI, educational institutions
4.Subscription with products- These are platforms, offering membership of their products for the period of subscription. Amazon, Netflix type
5. Community platform model- A combination of all above. There is a product, seminars, webinars, lifelong membership to a community and annual subscription to higher bracket community. It provides accountability and the best completion rate. At present this model is the best and most effective model. As it gives a continuous connection and support for the best result.
It has 6seps
Step1- Finding Niche
Step2- Design curriculum. 3Day course, 30 days Challenge to build skill and establish systems.
Step 3- Nurturing members continuously. Build a Digital Ecosystem of your own.
Step 4- Selling membership than products
Step5- Getting continuous feedback to improve products and systems for getting improved results for members.
Step 6- Scale up by offering various improved memberships.