Building Another Recurring Revenue Stream | EP 155

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One of the biggest benefits of a subscription box business is recurring revenue. You can build ANOTHER recurring revenue stream in your business by adding a membership to your subscription box business. 

In episode 145 of this podcast, I interviewed three of my Mastermind students, all of whom hit $1 million in revenue last year! They have different businesses and followed different paths to where they are now, but one thing they have in common - they all have both a physical subscription and a digital membership.

When I knew I wanted to talk to you about memberships, there was one person who had to be part of the conversation - my long-time mentor and membership guru, Stu McLaren. 

Stu and I talked about 4 categories of memberships: 

1. Product-based memberships 
• Ie., a subscription box
2. Service-based memberships
• I.e., a massage therapist, blow-out bar, car wash
3. Knowledge or information-based membership
• Solving an ongoing problem - i.e., dog training, relationship coach
• Learning a skill - i.e., Launch Your Box
• Convenience - i.e., teacher lesson plans, templates, social media scripts, checklists
4. Community-based memberships
• A gathering place for people with shared interests
• Can be a standalone or an add-on 

There are so many examples inside Launch Your Box of members who added memberships to fill a need their audience has. 

Ask yourself how you can use your expertise to create a membership. 

• What questions are people asking you? 
• What problems can you solve for your audience? 

Stu and I talked about membership ideas for some popular industries: 

• Pet industry
• Training
• Dog spa business owner coaching 
• Equestrian riding
• Fashion and beauty
• Styling tips & tricks
• Crafting
• Lettering, sewing, crafting, etc. 

If you worry that your business doesn’t lend itself to a membership, Stu shares a story that might convince you otherwise. One of his students has a membership of thousands of people - all there to learn how to make balloon animals! Yes, you can create a membership! 

So… how can YOU use your expertise to serve your ideal customer with a membership? 

Stu is hosting a FREE 3-part workshop in April. 

Learn more about Stu McLaren’s FREE workshop HERE! 

Join me and Stu McLaren, my long-time mentor and membership expert, as we talk about why you should consider building a membership alongside your subscription box business.

Find and follow Stu: 

• Stu McLaren on Facebook
• Stu McLaren on Instagram  
• The Membership Workshop Website