How To Earn A Passive Income By Creating Your Own Membership

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Having a membership is something that we’ve done and it’s brilliant

Because it’s a way of earning a passive income.

But for a membership it’s essential you have an incredible amount of value to offer

And you need to be clear on what your customers want

If you’re just starting out, you can’t anticipate those internal conversations that your clients are having in their head

It’s essential to know their limiting beliefs, know their goals and desires, their objectives and be able to speak to them without actually communicating with them and them responding.

If you do enough 1:2:1 sessions, you’ll start to learn the things that typically come up for your clients

And this is another reason why it’s so important to have a niche,

If you have a niche, you understand exactly who you’re speaking to. Therefore it’s easier to learn what they want.

If you don’t have a niche, imagine creating a course for them or a membership site or training material.

It would be incredibly difficult

A membership is usually housed within a members area of a website.

And this makes it a little bit more complicated to get it built out.

However nowadays there’s a lot of software you can get which means membership sites can be created quite simply,

Essentially it’s like a private login on a website and your members access training material.

You can add different elements to that.

Within our membership, we offer a Facebook community, live Facebook trainings, certifications, a directory, 1:2:1 coaching session with one of our coaches, free resources and affiliate program, the list goes on.

There’s loads of stuff in there and it makes it a no brainer,

But you don’t have to start off like that.

You could simply offer a login and provide training material

Which is a passive income generating product.

Because you can charge a subscription of $10 a month, $50 a month, $100 a month, $500 a month.

You will just need to regularly update that content with new material and your customers, as long as they’re continuing to get value, we’ll continue to pay that monthly subscription.

We know for a fact how valuable our membership is.

We receive feedback from people that absorb our content and then say it’s changed their life

Because they’ve had a realization or they’ve been brave enough to take a bit of action, it’s worth that monthly subscription to them.

And it’s well worth that initial bit of work for you to create it.

You ideally need to make sure that your membership is a no brainer.

So the amount of money that you charge for it is minimal in comparison to the value your customers will experience .

You can do that based on the experience that you get when working 1:2:1 with clients

Then build all of your membership trainings on exactly what they want,

Which directly comes from the experience you get working with clients personally and in group coaching settings

Ask for feedback from people in terms of what else they need stacking on top of what you’ve given them,

That’s how you get your training ideas, directly from your clients, their wants and their needs will inspire you

You may be doubting it right now but…

Everyone has a membership within them.

You just have to figure out what is the best and most effective way you can add value to people’s lives via a membership setting.

Even though it can be a little bit more technical than 1:2:1 or group coaching,

Remember you’re not the one that has to do it.

That’s another thing that people get caught up on

Thinking they have to build the membership site themselves

But when you get to the point of wanting to have a membership site

You’ve done enough 1:2:1 coaching and group coaching to pay someone else to build it for you.

Don’t be building that stuff yourself.

Save yourself so much time and stress by paying someone else to do it for you

So…

If one of your goals as a coach is to earn a passive income

Membership sites are a really good way of doing that

We only charge $47 a month for The Coaching Masters membership.

And I’ll let you do the maths…

We’ve got over 780 members.

It’s a great passive income earner when you have a solid base of interested customers.

And relevant value to give to your niche!

This was taken directly from – The Coaching Masters Podcast – If you would like to hear the full episode where we dive deeper into the subject of ‘13 Ways To Become A Millionaire Coach’ –Click here now!

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All-Inclusive Online Coaching Membership

Members area of business, coaching and mindset training content, coaching directory submission, affiliate programme & private facebook community.

$47 Per Month