277: Creating Recurring Membership Income In Your Business - #GrowYourLife

Hey, what's up everybody? We're back on the Grow youw Life podcast. My name is Jeremiah Gracowski. Welcome to this episode. This is all about recurring revenue, building up membership income for yourself so that you're not in feast or famine and so that you have consistent months. Imagine waking up knowing that this month, no matter what happens, no matter what you do, you're going to be able to bring in 10,000, 20,000, 40, $40,000 a month in your business or even $100,000 a month guaranteed. Well, over the course of my career, that's what we've been able to do, is we've been able to build income sources that are consistent recurring revenue people paying monthly into subscriptions to be able to do this. They're not just buying a one time thing. And I want to break down for you in this episode how you can get to this place, why I think that you're a lot closer to being able to do this than you think and why you don't need to load it up full of a bunch of stuff to be able to do this. You don't need to have as much content as Netflix to be able to do this. I believe that this is the answer for most people to being able to get out of fight or flight and be able to experience what having a successful business is like beyond just having to keep showing up and marketing all the time. You know, if you got to keep marketing, if you got to keep selling, that really is more like a job. And so in what we teach inside of our program, we help a lot of people, many different things. High ticket offers, low ticket selling courses, coaching programs, membership. But I always bring everything in. I hone it into having a membership program of some kind. One of the things that we like to include in our membership programs is having support and accountability for what people are buying into. So they're not just getting access to income information for information sake. Information is a dime a dozen these days. You can get a lot of great information for free. I mean, this podcast is a gold mine of information for you. But the value of joining my client growth accelerator program is that you actually get to work with me personally. I'm in that program helping you through the problems and the issues in your business, guiding you, directing you, showing you, tweaking your ads, your landing pages, your sales offers, all, all of that and everything. And you're not alone in that process. You have our community, but you also have me personally in there with you. And so one of the things that I recommend Is that if you're a coach or course creator, that's what people are really paying for. They're paying for proximity, they're paying for access, and they're paying to get closer to you. And so you can get people to pay you monthly just to have you in their back pocket is what it is. And this is one of the things to realize is that when you build a membership, not everybody who signs up for the membership is going to use it all the time, but they like to have it in their back pocket. And that's one of the thought processes behind having recurring revenue and a membership that goes beyond just what a course does. Overall. People aren't going to just take action and then they're going to leave your, your, your membership. Instead, what you're doing is you're, you're becoming a part of their lifestyle. You're becoming a part of what they can rely on, part of their success strategy for whatever that thing is that you help them with. Okay, so what I want you to do, and we got a lot of different training on finding your niche, writing your copy, creating your funnels, your ads, all that. But I want you to take a step back, big picture at your offer. Okay, what are you offering? How do you help people? And really this is the question, what's the transformation that you bring to people's lives? Lives? What does that end result like what we do, we help coaches make seven figures in their businesses from zero. We help coaches make eight figures from zero when they work with us deeper and become a consulting client of ours. But in our coaching program, in our membership, that's what people come to us for is making that six and seven and then seven figure income by being able to get the help they need when they need it. Staying up to date as far as what is the most important information that's up to date and having that maintenance access as well as access to brand new information as well as the community aspect. And when we bring all of this together, that's valuable to people to pay monthly for. Now, one of the things with membership sites, I will say this is that yeah, you can charge $10,000 for a course or a program and get that all up front, but with recurring revenue is you take a little bit of money over time, maybe a thousand dollars a month, $200 a month, $75 a month, whatever range you want to go in, $27 a month. And listen, we got, we got programs that they, they range from this, it's whether it be $1,000 a month. Sixteen hundred dollars a month, two grand a month breaks down to $24,000 a year for the right client, the right access, they'll pay that and they want that. And they want to be able to have that consistency, to know that you're there for them when they need it. And that goes beyond just a one time, wham, bam, thank you ma', am, check out take your money from the credit card type of a thing. It's about building trust and long term relationship. We talk about this all the time in our coaching program and on our podcast that everything in business is built on relationship and connection. And the more you nurture that connection with people, the longer they're going to want to stay with you and the longer they want to stay connected with you. And that you're not just doing this for a one time thing with people, but you're actually doing it for the long haul. This is one of the things that I can say we've done a great job with. We have clients that we work with, that we have been working with for years. Like decades, even nearly nearly decades for some of them. And, and like, why would somebody continue working with us for decades? Because there's new layers and there's new things that they're unpacking and they're growing progressively and they're growing with us in that process. And that's the beautiful part about a membership. If you think about Netflix, people have been on Netflix for decades. It's the same exact thing when you're building a membership site for what you're doing and then that compounds, you got the compound effect or year over year over year, you're adding more people to your membership and your revenues start to go up and you actually are making more money while doing less work work overall. That's the beautiful part about having a membership is it allows you to actually step into semi retirement where you don't have to work and grind and stress and strive just to get sales. You can actually take a step back, take a year off if you want not. Or, you know, just bare minimum, just do the bare minimum. Show up on your call, show up on your trainings, do that and, and then see where that lands you, see where that takes you. Now again, I know there's some of y', all, you're like, gosh, I, I could, I would be nauseated to work that little. Okay, great, awesome. You're like me that you, you know, you want to maximize your time and get the most out of it. But I have a lot of clients too. They're like, I want to. I want to figure out, okay, bare minimum amount of work, most amount of revenue. That's what memberships allows you to do. Okay? So when you're thinking about a membership, you want to think about what is the amount of money that somebody will spend that will allow you to make the kind of money that you want to make. And then how many people do you need to get in the door with that? So if you're charging $97 a month, if we break this down on the whiteboard here, $97 a month, you have a hundred clients, that's $9,700 that's coming in. If you have, like, one of my Clients does over 2500 clients at $97 a month, you can basically, let's just kind of do round up the math a little bit here. You're looking at 2500, add two zeros, $250,000 a month off of that. And that's the beauty of a membership. And you would only have to show up maybe two hours a week for that group, and then, you know, five, six hours a week for your marketing. An hour or two a day. That's it. That's what you're able to do, and that's what you're able to accomplish in this. And so, like, what do you actually put into a membership like this? Well, you put the solution that somebody's looking for you. You. Instead of it just being a course that they buy one time, they get access to the course. They get access to a community, whether it be a Facebook group. That's how we do it. Simple. They get access to maybe a learning library with other courses, if you have those in there. They get access to ask questions. There's live calls that they can join, and people will pay you monthly to be able to be a part of a community that does this. And then the beautiful part about it is, is that some of those people will want to ascend and pay high ticket with you, 20,000, $30,000 of an offer that they can take to the next level with that. Okay, so. So again, what you want to do is you want to look at, how do you help people? What is that thing that you help people with? If you don't understand that, that's the first place you want to start with. And then we learn to build out our offer. We structure what we're going to actually sell to people, and then we start marketing it. We find the people that are looking for that thing, and we get in front of as Many of those people as possible, whether it be through lead magnets, through advertising campaigns, through social media content to show up to them, to be able to deliver this value that is coming through this membership right here. Okay? And so by creating this recurring revenue, people will stay on when you start adding new content consistently every single month, when they can get their questions answered whenever they want to, when there's guidance and direction that they can rely on and count on, and that you're going to be there for them to help them every step of the way to do that. They want to spend time with you, they want to be a part of your tribe, they want to be a part of your community. And this is why in your business, when you can embody what you're selling, you become a product of the thing that you're selling. When you become a product of your membership, when you become the product that people are looking to become. Like, when you become a role model to your clients, they will want to become a part of whatever that thing is that you're offering. And you got to learn how to persuade people that it's going to be the thing that they want. You got to learn how to sell this to people. And so this is where tapping into what drives people to purchase is the number one skill that you can learn. It goes above and beyond just mindset, but it's learning how to sell to people. It's learning how to get people to say yes instead of no, or maybe, or sometime later when they see the thing that you're offering. And so there's a way of communicating with people that does this. There's a, there, there's a, a structure to the way that you talk, the words that you say, how you string them together that lets people see and believe that they're going to get the result with you. The only reason why anybody joins your membership is they believe that there is an outcome and a result that they will get by being a part of your membership. But same with courses, same with coaching programs, same with consulting. And so now your job is to sell them on the fact that they're going to be able to get that thing, that they're going to be able to experience that thing that you're selling them on, that their dream outcome is going to be delivered to them. And so we do this through sales presentations and our marketing. We find people on social media, we get them to watch some kind of a video sales presentation, video presentations. Video content is the number one way that people engage and make buying decisions. And for every hour that somebody spends with you on video, they'll be, they'll be willing to spend at least $1,000 that year with you. So if your membership is 47amonth, one hour of video content or two 30 minute videos is enough to get somebody to say, okay, great, I'm ready to jump in on this. If you're charging $10,000, they might need to watch 10 hours of content with you just to really get immersed in your world, that immersion to see, okay, I got this information. And you give your best information away for free. So when we're marketing it, we want to figure out what is the desired outcome that somebody wants. What is the outcome that we deliver from our membership. And then what we do is we give the information piece of it away for free in the form of YouTube, social media content lead magnets to grow your email list in emails that we send out. And then, and then by doing that, that draws people to us and they want to become a part of our ecosystem and our membership. And then what you got to do is you got to serve those clients. You got to have milestones that they're looking to, to work towards. You got to learn how to lead the group. You gotta, you gotta lead the community. And that's a skill set that you can learn, you can be mentored on. By becoming a part of a community that does this really well, like our client growth accelerator community, you're able to see how we run our group, how we promote, how we get people to stay engaged and to stay with us for year after year after year. So again, I'd love to have you be a part of that. We help you with your niche, we help you with your ads, with your messaging, with your sales. We optimize everything with you so that you have consistent income, so that you have clarity in your messaging, so that you have massive impact. You can finally have that financial and time freedom that you're looking for. And that's what we deliver in our, in our client growth accelerator program. I'd love to have you become a part of that and be a part of what we're doing in there. With coaches, we're creating a brand new thing that's never before been seen in the coaching industry before by turning it on its head. And people can see the difference by being a part of a community that really is changing the game with integrity, with truth, with honesty, with what's cutting edge, with what's actually working. And I'm, and I'm so grateful every single day for the clients that we get to work with. And I'd love to have you be a part of that with us. So listen to this podcast has helped you make sure to subscribe, make sure to check out the other episodes that we have, share it with somebody. And I'd love to work with you in my coaching program, in our membership, in our mastermind, to be able to help you break past just trying to make this online thing work and actually start making six and seven figures. All right, we'll talk soon. Everybody have a good one.