Woe is me.
A few months ago, I said: oh, look! Panera Bread also has a membership: $12.99 per month gets you all the drinks you want. I'll use this as an example when I explain the value of recurring
revenue!
And then, oh boy.
Panera announced that at a couple of its locations it would be testing out an optional palm-scanning technology to access people's accounts.
So, to clarify:
I FAVOR the subscription model.
I DO
NOT FAVOR THE PALM-SCANNING CREEPINESS.
Having said that:
You're on this journey with me because you're not like the rest of the world, which watches TV all day. You're a
doer.
My lesson for you: as long as you're a doer, why not do something that multiplies your revenue -- in other words, a membership instead of a fleeting sale here and there?
Oh, but I don't
have anything to offer, you say.
I'll bet you do, but you just haven't thought it through. There are successful memberships in all kinds of areas. Thus:
People who help divorced women manage money.
People who teach people to train their dogs.
Math teachers who share their lesson plans with other teachers.
Artists teaching people to paint.
Guitar players teaching people how to play guitar.
Photographers teaching people to take better pictures.
Veterinarians who teach people to keep their pets in optimal health.
Entrepreneurs teaching people to start their own businesses.
Financial planners teaching people how to manage their money.
Anything you know about can become a membership.
If you're on this list, this right here is the Queen Mary.
Memberships with recurring revenue are the gold standard. It means no more knot in your stomach. It means stability. It can
likewise mean genuine fulfillment.
If you're worried that you can't attract an audience for what you do, let me worry about that. We'll discuss that in a future email.
For now, I want everyone reading this to read Stu McLaren's guide to successful memberships. Especially you, dear reader, who was planning to delete this message and go do something else.
I modeled my own membership launch (my third) last year on what Stu recommends, and let's just say it worked pretty well.
(By pretty well, I mean it was literally the most successful day of my entire life.)
I have nothing better than this to share
with you. If you've been waiting for just the right thing, this is it.
And I will help you. Personally.
Meanwhile, read this while other people are getting their palms scanned:
Tom Woods
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