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Tips To Transition From 1-on-1 To Membership Income
May 4th, 2009 by Kendall
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When I first started my coaching business my goal was to get as many 1-on-1 clients as possible. At first I loved working 1-on-1, but it didn’t take long before I found myself feeling drained and dreading my clients’ calls.
Which is when I started to experiment with re-designing my business and discovered how to create both “passive” and “leveraged” income streams. Passive income is money that flows in from the sale of products or programs that have already been created. Leveraged income is large amounts of income created from very little time spent, such as with a membership program.
It didn’t take me long to see that EVERY business has the opportunity to create both kinds of income. But, creating passive revenue can take some time. Which is why I recommend focusing first on creating leveraged income streams such as membership programs.
Now, maybe you’re thinking, “Sounds great Kendall, but I’m not sure how a membership program fits in with MY business.”
Keep in mind that a membership (or “continuity”) program does not always look like the typical “coaching club.” There are MANY varieties of membership-style programs you can offer to achieve your goal of creating leveraged income.
So let me share an example that will help you see how adding a membership program is totally possible for you, plus I’ll give you THREE quick tips to help you design your own membership offer, okay?
Let’s start first with an example. Initially, my Platinum client, Sandra Martini, didn’t see where she had an opportunity to offer a membership program. Sandy’s business focuses on coaching entrepreneurs on how to get their Internet marketing — tasks such as article submissions, social networking, and sending out an ezine — done.
Instead of trying to create the typical “pay for information” coaching club, we designed a membership model based on Sandy doing the work FOR her clients.
BINGO! Within a few short months she had picked up several new clients for her “done for you” service. Since then, she’s launched two more popular done-for-you services. (You can hear more about how Sandy re-designed her business in a special, exclusive interview series I recently recorded, called “Success Stories: How Did She DO It?” (Click here to access this interview recording.)
Here are three more quick tips you can use to creatively add membership in-come to your business.
Tip #1 Consider “Done For You” Services Instead Of Just Supplying Information
People are so busy these days that they’ll happily pay to have YOU do a task for them. With the right team in place, this can be a powerful source of income for you because your clients quickly become “hooked” and never want to leave you.
Tip #2 Take A Look At Repackaging What You Already Do
Often there’s a way you can take the information you provide your 1-on-1 clients and re-purpose it into a membership program. For example, with a little imagination and creativity you can create ecourses, and teleseminars set up on replay schedules, each delivering information in bite sized pieces.
Tip #3 Create Specialty “Mini” Membership Income Streams
My Platinum client, Sandy, created three different membership-style offers by focusing each one on a specialized topic. For example, one “mini” membership service she offers is her “Social Networking Done For You” which focuses exclusively on providing daily and weekly social networking tasks for her clients, thus saving them tons of time and energy.
Keep It Simple So You Can Implement Your First — Or Your Next — Membership Income Stream Quickly
My advice is to start by offering something that reuses your existing content, or is a natural extension of what you already coach or consult your clients on. Remember, simple means speed, and speed means a quicker path to cash!
Posted in Money and Mindset • • Subscribe to this feed
Tags: membership program, money
Thanks Kendall!
this is the exact boost i needed to move forward on something I’ve been envisioning for some time
with joy
laura
Comment by laura — May 4, 2009 @ 8:03 pm
Great info — as I always expect! Thanks!
Wild blessings,
Jane
Comment by Jane Valencia — May 4, 2009 @ 9:24 pm
Thanks for the jump start, Kendall. I’m looking at my business with new eyes!
Warmly,
Annetta
Comment by Annetta — May 4, 2009 @ 10:47 pm
…really good information, Kendall! Sometimes it’s hard to be objective and look at our own businesses with that “fresh, creative and inspired” set of eyes…(I often find it easier to do that to others’ businesses!) So thank you for being my fresh, creative and inspired eyes as per this topic!!
A raving fan,
Ann-Michele
Comment by Ann-Michele — May 4, 2009 @ 11:47 pm
Thank you for this article Kendall. I’d love to hear even more ideas from you on different types of continuity programs.
Best, Wendy
Comment by Wendy Maynard — May 5, 2009 @ 9:32 am
Great article! This should benefit anyone in this type of business.
Comment by Leelo Bush PhD — May 5, 2009 @ 10:01 am
Yes! I want stuff done for me–I don’t want to spend time learning how to do it. Food for thought for my business. Thanks.
Comment by Allie — May 5, 2009 @ 11:14 am
Thanks kendall for your simple and powerful tips!Yes, we tend to complicate things. I really like what you said
“simple means speed, and speed means a quicker path to cash!”
Comment by Lalitha Brahma — May 6, 2009 @ 7:46 am
Kendall, as always, valuable and timely tips to help keep me motivated!
Comment by Bonita Richter — May 7, 2009 @ 3:15 pm
Thank you Kendall! I like the different approaches you took on creating membership programs. I have been putting the membership idea on the back burner for quite some time. I’m going to have to toss this around a bit in my brain. I work with busy moms on personal development issues - short, sweet, bite size information would be great for them. I wish I could balance their lives for them, complete their to-do list, but don’t think that’s too realistic.
Comment by Lori Radun — May 8, 2009 @ 12:02 pm
Kendell this is AMAZING!
You are such an inspiration. I am working on my FIRST membership site and am excited about it’s financial potential.
Best,
Greg
Comment by Greg — May 11, 2009 @ 5:26 pm