Building Recurring Revenue Through Memberships with Stu McLaren

If you’re an entrepreneur, I’m sure you felt the collective urgency for stability and certainty that resulted from this past year.

The common theme that I’ve heard buzzing around the entrepreneur world this past year is:

RECURRING REVENUE

...and I totally get it!

When we have stable, recurring revenue - we’re less stressed, have more confidence in the work we’re doing and have an improved mental state overall.

The question is...how DO you secure recurring revenue?

This week on the Epic Success podcast, I talk with my friend and Membership Master, Stu McLaren, all about recurring revenue in the form of memberships. Now, if there’s anyone to learn from about memberships - it’s Stu! He knows his stuff. Join us as we take a deep dive into all things memberships, and how important vital they are to building and maintaining recurring revenue - specifically during uncertain times. Grab a pen and paper, and let’s dive in!

The biggest take-aways from today’s episode are:

 

• “A lot of times, people will have the thought that it’s either a course or it’s a membership.”

 

It’s not an either/or scenario - courses and memberships are actually one and the same! In a course, people learn what to do and how to do it. Once the course ends, this is when people typically implement what they learned - and that’s when community and support is most important! Offering a membership in conjunction with a course allows you to bridge the gap between learning and implementation. [10:29]

 

• “It doesn’t take a lot to get going.”

 

A membership can be as simple as you want it to be. Don’t overthink it, and don’t get into your head about it. You can keep it simple, and in fact - it’s best to keep it simple! Listen in to this episode to hear real-life examples of entrepreneurs who have had successful memberships within different niches and varied audience sizes. [18:02]

 

• “The number one reason people cancel out of a membership is overwhelm.”

 

It doesn’t matter what type of membership it is - if a consumer is receiving a large amount of content, and they don’t have the ability to consume it at the same rate they’re receiving it, they will become overwhelmed and, ultimately, they’ll leave the membership. What does that mean for you? The less content you provide, the more successful your membership will be. It sounds counterintuitive, but it works! [27:55]

Bottom line: memberships are a huge win across the board AND they serve all kinds of business in all industries!

Not only do they provide stability and predictability - but most importantly, they provide us (as entrepreneurs) the opportunity to serve our clients at the deepest level.

I’m so thankful for Stu sharing his membership wisdom with us! AND I have some amazing news for those of you who can’t wait to dive deeper into the world of memberships - Stu is hosting a free workshop called “Turn What You Already Know, Love And Do Into A Profitable Membership.”

Click here if you’re thinking, “I need this workshop!”

In the workshop he outlines:

• How to create a “Success Path” that gives your audience tremendous clarity and direction.
• The most important number that every membership site lives and dies by (he’ll tell you what this number is and how to calculate it)
• The 4 reasons that people really buy… hint: it’s not what you think.
• And the #1 reason why people cancel from a monthly membership… and how to easily fix it

If you want to build a business that brings in recurring revenue month after month, you need to be there!

Sign me up for the free workshop!

Attn Coaches: Are you ready to master your coaching skills and monetize your business the right way so you can get EPIC transformations for your clients AND build a profitable business that supports you and your family?. Join my next live info session on Monday, May 3rd @12pm PST to learn more about the only coaching program that teaches you a predictable way to:

✔️ Enroll at least 10 new coaching clients every single month

✔️ Confidently coach your DREAM clients through ANY problem, situation, or goal with the brain-based NeuroCoaching Model™

✔️ Profitably launch (or scale) your coaching business so you can remove all the guesswork and 2x, 3x, even 5x your revenue this year!

If you’re ready to take your coaching business to the next level… or start your coaching business the right way, click here to register for the FREE live info session on Monday, May 3rd @12pm PST!

Psst... In this live info session, I’m peeling back the curtain on the 3 Pillars of Brain-Based Transformation that I take ALL of my coaching clients through for massive transformations in their lives and businesses (that I only teach to my NeuroCoaching Certification™ clients!) Don’t miss it! 

Don’t want to wait?! You can get access to the replay from the last live info session here!

Today I want to give a shoutout to one of my Epic Success Podcast listeners who left a 5-star review titled “Like having brunch with the experts”:

“Not only does Dr. Shannon Irvine deliver experts and incredible advice tips for business and life in her podcast, but her interview structure presents an ease that makes you feel like you are sitting with her interviewees at the brunch table listening to an amazing conversation!”

 

I absolutely love sharing the brain-based process of creating success in your life & business with you each week on the Epic Success podcast! Reviews are how I know you’re finding value and help me share Epic Success with more people!

If you have something you want to say about the Epic Success podcast, I’d love it if you’d post a 5-star review on iTunes, Stitcher, Spotify or wherever you listen to podcasts.