Why Communities Will Thrive In The Next Decade & Beyond

I'm going to prove it to you in this podcast on why communities are the only things that will thrive in a coaching business and knowledge business over the next decade or even beyond. Because information is easily accessible. People are getting whatever they want in multiple ways. And of course, with AI and multiple other things that are happening, it's not about information anymore. We have to like think beyond it. So in this particular podcast, I'm just going to compare all the different models that I know and I'm going to tell you why. Communities will be the only model that will thrive in the the next decade. And all those people who are propagating all other models, they will come to realize this and they'll start to move towards community based models, you know, either by, you know, by using their intelligence or by tasting the other side where people won't be responding to what they're doing and they have to eventually start building, becoming community builders. Okay, let's first understand where we are now in the year 2024 as I'm recording this podcast. We don't lack information. You can go on YouTube, you can swim there for 24 hours a day, you can use ChatGPT, you can get whatever information that you want. What people lack today is what lack of implementation and lack of focused implementation and mentorship. See, mentorship is what people really look forward to, okay? And even mentorship is not like a kind of mentorship where you just give them some gyan and tell them, okay, do this, do this, do that, do that, have a checklist. No, it's not about that. It, it's deeper than that. I'll decode that for you, okay? And then you also have, if you look at the state of the industry today, there's one category of coaches where, you know, they do like a done for you services, like agency kind of models where yes, you come to us, we'll do everything for you, you just pay us this high ticket and then, you know, that's it. And you have another category which is where you make them do it themselves. And that really frees up a lot of your time. And again, that's the model that I have taken where I do have vendors, service providers on various different, you know, aspects of the coaching game. But I want people to get hands on and I want, like they say, right, if you give a man a fish, you can feed him for a day, but if you teach a man to fish, you can feed him for a lifetime. So first, let's understand the five different kinds of models that are there, okay? The first model, which is a very straightforward model, which is a course based model is come to me, buy my course, attend my, you know, just go through this course, prerecorded course and you can get access to this. It's a very transactional based model. Yes, you can have high value courses and value packed information, but the sad truth is people don't finish the courses. The industry standard is like less than 5% of people finish the courses and I'm sure you are one of them. You know, you bought a course on Udemy, you bought something on Coursera, you got very excited when you saw the offer and it was a crash deal and you bought something and then after that you didn't go back and see that course. So the course based model, just imagine the creator of the course has spent so much of time and energy and all that high flying, high end production to actually create that course and then nobody's even completing the course. So what's the point of it? Okay, so the problem with the course based model in today's day and age and of course as we move into the next decade is it's not sustainable in terms of getting results for people. You may get results for yourself selling your course with your high flying marketing hooks and strategies, but if you don't care about student results, you'll take up this business model. And that's why in the beginning I was selling courses and I shifted to a community model because I could not sleep in the night. Keeping in mind that oh yes, I'm making, you know, 20, 30 lakhs a month, but I'm not, but I'm not able to see that those kind of results where other people are falling because nobody's completing the courses. So I completely switched away from just the pure course model to the community that I'm building right now. So the course model has its pros and cons. Okay. The second model is a consulting based model. A consulting based model is it really works well for people in the life coaching space. It works really well for the, for people in the healing space agency. Let's say you do a high ticket consulting, get people on board, you'll have some done for you services at the back end, plus you're going to be inviting them to some kind of a weekly call that they need to attend and you know, and also incorporate some courses into it. But it's more like a consulting based approach. So the pros of this model is you can be profitable by selling high ticket. But the cons of this model is the Only way to scale this is by you building teams or you know, getting people to be closers for you so that you know, you can actually close those deals and get people on board. And of course there is an entire school of thought behind it and I know the source of where it is coming from and I've also learned from the source, okay. Like I've learned directly from the guy who propagated this idea and I was a part of his $35,000 a year mastermind many, many years back. And I understood its limitations also it really well for specific industries, but I understood limitations that it's really not about, you know, continuing a relationship with a person, but it's just about closing a deal. And you know, it's a very hunter mindset approach. Okay, Number three is the program based model doing live workshops, live boot camps. Now the good thing about this model, it is high impact, no doubts. You know, spend four hours with somebody, spend three days into six hours on each day, you can actually pretty much, you know, it's a very sustainable, high impact training model. But the con of this model is the cycle ends. Meaning suppose you're doing a one like a four hour workshop or a three day boot camp. The advantage is you can sell a high ticket product at the end of a three day bootcamp and you need to have the facilitation skills to hold people's attention for three days. And you can sell, you can, it can be very profitable. But again, the con of this model is since there's an end to the cycle, you may not be able to build depth in your, your relationship with your students. They come there, it's again, information focused, they learn, okay, they get some kind of a transformation. But then it, it ends in those three days or it ends in those three months or whatever. You're going to be upselling to them after that and whatever. What are you going to be upselling after that is also going to be a program based model. You're going to do two workshops, three workshops, four workshops. So anything that is, you know, centered around knowledge or giving more information, I feel it has a limitation over time because people don't come for information anymore. They want implementation to happen. Okay, then you have model number four is what I call as a mastermind model. Like it's a high ticket mastermind. The mastermind principle is what people come together, they charge, you charge premium. And there's going to be a networking bonding between the, you know, people in the mastermind. There's going to be a learning element there's going to be a live element, there's going to be a course element, but it's more to do with exchanging ideas between people who are, you know, playing at the top of the game. It's this is one of my ultimate models. I'm also running a mastermind called the Quantum Club and we are 100 of us. It's a 10 lakh rupee per year mastermind. It's a renewable subscription based model and we've had like 80, 90% renewal rate in the last, you know, two years that I've been running this. And the good thing about this model is it creates a good funnel, stabilizer and cash flow in the business. But again the con of this model is you can't hold, you can't have too many people in this particular model. There is a limitation on the number of people that you can have in a mastermind. And also this mastermind model is catered more to the top 1% of any industry. Like for me, I can confidently say that our Quantum Club is one of the best masterminds in the country when it comes to the coaching business. Because the collective income that this mastermind generates per month is over 20 crores a month. Just these hundred people are generating over 20 crores per month. Some of them are doing 1 crore plus per month also some of them, okay. And it has taken me time to work with each person to get them to this level and normally it has taken at least a year, year and a half for them to come to this stage. So here we're getting catering to the top 1%. And that's why your limitation is the number of people. So what do you want? What about the 97%, the 99%, the rest of the group? That is why model number five is community based model. Now a community based model, the model which I've, which I'm propagating and I've been on it right from day one is having a combination of all these mod. I have courses, I do my high ticket consulting where in the form of not in a one to one consulting but when people come into my diamond membership it's as good as giving them a path and like a high accountability model for them to get results. We do have live programs, I do live events called fbr. We do even an online event, live event called the Hackathons which we do every two months. But the thing is I don't do it for three days and then I let them go. If somebody does not finish the hackathon they can come back the next time. So there's a kind of continuity, you know, for every rupee that a person spends, they come back so much. And I've noticed that when people come back after one year, after two years and start the hackathon and then they become freedom finisher, hall of fame, one crow champion, it is so fulfilling for me to see and that's because I kept the doors open all the time. And the mastermind model is also there inside this. So what is now the difference between community model and all the others? The difference is very simple. You are not selling a course, you are not selling a high ticket one to one, you are not selling a live program, you are not selling a mastermind, you are selling a membership into a community. And again my model is very, very simple. Have a front end low ticket membership, lifetime membership of 5,000 to 10,000, have a mid tire membership which is just a placeholder layer if you ask me, in the 20,000 range for people who can't afford the high ticket. And you give a high ticket certification where the certification is more like a high accountability journey for a person. It can be from a 1 year, 2, 3 year journey where they're being audited and evaluated for their progress. And again it's not happening on a one to one basis. It's all one too many group based stuff. So this is what I feel after analyzing all the models out there on the Internet. This is going to be the future of coaching, this is going to be the future of business itself. Why? Because number one, people crave connection. They want to come back for more. They are not just they do, they just don't want knowledge. They just don't want Gyan. They don't want just bits and pieces of information that they can anyway get in a much more refined way on YouTube or on ChatGPT. People want to get results. So for that they need accountability. Okay, People want a journey. So if you look at what I've been doing over the last few years is I don't sell my knowledge, I sell the journey. I say you come here, it's going to take three to five years for you to get to whatever level that you want. You have enough of case studies to prove that. So when I sell the journey there's a high level of commitment but when I sell just knowledge pieces, they'll want to, it's like a fast food, you know, they want to buy some french fries and they want to just consume that french fries and they may enjoy it but it does not sustain the Journey. People want a fresh start. You know, many people, they start on a journey but their life takes over. But when you do a community model, they can always start afresh again. People want a space where there's continuous innovation happening like when you do a community model. For me, the best thing about community model is my content keeps changing every single day. Every time I show up for a hackathon or inner circle call, it's continuously changing based on what evolution I'm going through. Of course the topic will be the same, but the insights that I've gained, the kind of innovations that happen based on what I'm learning from myself, from my own campaigns and what I'm learning from my top 100 students, that, that collective, you know, the collective insights that I get from the best of the best in industry, that makes the whole experience on a whole different level because there's continuous innovation happening and that's what people want. They want to learn the latest stuff that's happening. And my recent hackathon that I'm doing, I've introduced some stuff with AI and some, some other stuff which has blown people's minds away like people have now. People are launching a knowledge business at rocket speed compared to even two, three years ago during COVID That was one of the times. And all of the top coaches that we see today started their journey, but today they are going to be going, you know, what has taken people from 2020 to 2023. People are starting now in 2024. They will do it in half the time because of the new system and the process that we have. Okay. And of course another thing is people want to be challenged. Challenged, like put them through challenges, put them through a hackathon. Like, you know, tell them that you better do this, you know, and of course in a good way, where you're also dangling carrots and you're giving all different kinds of gamification and awards and recognition for that sense of pride that they are crossing from one milestone and going to the next milestone. And that's pretty much what I've engineered and cracked the code and templatized and it's ready to use for people from any walk of life, any niche. You know, we have like zillions of niches in the Internet lifestyle of community. Now if you're already a part of the community, I would highly, highly recommend that you upgrade yourself to diamond so that you understand what happens at that high ticket level. It's a super, highly scalable, high ticket mastermind. You know, we've done close over 70 at this point. You know, we're touching around 70 crores in revenue. We just have a four to five member team and we have more than 3,000 diamond members who are who have paid us anywhere from 1 lakh to 2 lakhs in that range. And you can actually do the math and see it's like it's been one of the most scalable high ticket products where I'm not giving my one to one time but I'm not providing a service or like an agency or something like that. I'm not doing any done for you services.

If you have to learn how to build that kind of a high ticket backend product, come and check out my damn membership. Okay? Now if you're not a part of my community, I would highly recommend that you go to SidharThrajekhr.com attend my next webinar and just jump in. Start with my silver membership itself and that'll be a great start for you. Okay? So what I just want to tell you is today I'm on day number 24 out of my 90 day podcasting challenge. I want to thank you for tuning into all my episodes. Make sure you subscribe to me on Apple and Spotify for all my future episodes. And I just can't wait to complete my 90 day challenge where I'm sharing my journey with each one of you as I am getting feedback from my community. So this is going to be one of the most valuable podcasts if you just go and check out my previous episodes. So subscribe and I'll catch you in the next episode. Sam.