Last night I was having a perfectly nice meeting
of my Junior Mastermind when rather a shocking thing happened.
We have two cats: the great and dignified Myles Matheson, and the playful but aggressive Biscuits (the name she'd been given at the cat cafe in Honolulu where we adopted her).
Well, ol' Biscuits wanted to play last night, and right in front of the great and solid people in my Junior Mastermind, she gave me a very
sudden smack on the nose that actually drew blood.
A minute or two later I was fine, I am happy to report.
But if you want to see a real bloodbath, one that mischievous Biscuits could only dream of, check out what's happening with AI.
Some people are figuring out how to use it to their advantage. Others -- like
coders -- are worried that their entire livelihoods could be wiped out by it.
AI is going to upend a lot of business models, particularly online.
As I've mentioned this week, however, one thing AI cannot do is create a community. And that's precisely what a membership does: we're all in this together. We're all learning or doing something together, and helping each
other.
But here's the other reason memberships are great: stable, recurring revenue.
You don't want to be a door-to-door vacuum cleaner salesman. Maybe you make seven sales today but zero tomorrow. You'd be a nervous wreck. That's no way to live.
Someone who runs a membership site can earn stable, recurring income
month after month. Imagine for a minute a lifestyle in which you wake up and check how much revenue came in while you were asleep.
Not bad, is it?
If you're going to go to the trouble of selling something, why sell just one thing? Why not sell something that generates revenue month after month?
Now I can already hear the objections:
(1) I'd love that, but I
don't know how to set something like that up.
(2) I have no expertise.
(3) I don't know exactly what I'd offer people.
(4) Nobody would want to join my membership.
These are not dumb objections. They are legitimate concerns. But there are answers to them all, and before you just let that discouraging voice dissuade you from doing something enjoyable and
worthwhile, read this (only temporarily available) free guide about what a good membership looks like:
https://www.tomwoods.com/everymonth
Tom Woods