Shane And Jocelyn Sams On How To Set Up A Recurring Income Business Using Membership Sites
Related / Mentioned Podcast Episodes:
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 of 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 you decide to launch your membership forum?
15:23 — How much time do you need to spend in membership forums?
16:58 — How do you 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 #socialmedia27:56 — 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 and #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 from @flippedls
41:46 — Final thoughts on #membership models and #recurring income
Ash Roy
Ash Roy has spent over 15 years working in the corporate world as a financial and strategic analyst and advisor to large multinational banks and telecommunications companies. He suffered through a CPA in 1997 and completed it despite not liking it at all because he believed it was a valuable skill to have. He sacrificed his personality in the process. In 2004 he finished his MBA (Masters In Business Administration) from the Australian Graduate School of Management and loved it! He scored a distinction (average) and got his personality back too!
