How to Stop the Revenue Roller Coaster: A Guide to Creating a Steady Income with Memberships

When I first started my online courses, everything seemed fine. But soon, I noticed my revenue was going up and down like a roller coaster! Here what I did to fix it, and how you can too.

Understanding the Problem

Many online course creators face the issue of fluctuating revenue. This is often due to relying solely on one-time purchases and launches. Not having a consistent stream of income can be stressful and make it hard to plan for the future.

Making a Change: Introducing Memberships

Creating a membership was a game changer for me. Here’s why:

• Steady Revenue: Having monthly payments means you can rely on a consistent income.
• Community Building: A membership fosters a stronger sense of community among your audience.
• Reduced Stress: You don’t have to depend solely on course launches or one-time sales. My Journey

Initially, I created a Facebook group for my members. While it was great for interaction, it was too much work to manage. I later switched to using Simple Funnels, which managed everything in one place, making my life significantly easier and my business more stable.

Steps to Create Your Membership

1. Define Your Transformation
   Ask yourself: What big change do you want to help people achieve? This should be a core part of your membership offering. For instance, my “Mini Course Bootcamp” helps people create effective low-cost courses that grow their business.
2. Set Your Price
   Choose a price point that feels right for you and your customers. Here are some tips:

• Start with a lower price if you’re uncertain.
• Raise the price as you add more value.
  For example, you could start at AUD 27 or AUD 37 per month and adjust as you go.

1. Choose Your Platform
   Look for a platform that handles payments, courses, and community interactions all in one place. I personally use Simple Funnels, but “School” is another good option. The key is to make sure everything is managed seamlessly to avoid extra work.
2. Establish Boundaries
   Decide how much time you’ll spend online supporting your members. Set clear rules to keep things positive and manageable:

• Check in on your group in the morning and evening.
• Allow community members to help each other to reduce your workload.

1. Create Your Marketing Plan
   Think about who needs your membership and how you can reach them effectively. Make sure your mini course leads people to join your membership. Here’s what to focus on:

• Know your audience: Who are they and what do they need?
• Highlight the benefits of your membership in your marketing materials. Be Consistent

Consistency is crucial for the success of your membership. Regular check-ins and maintaining an active community will keep your members engaged and satisfied.

Keeping It Simple

Remember: Simplicity scales, complexity fails. By following these steps, you can create a stable, lasting business that provides steady income and reduces stress.

Key Takeaways:

• Define the transformation you are promising.
• Set a starting price and adjust as necessary.
• Choose a comprehensive platform.
• Establish clear boundaries for time management.
• Develop a targeted marketing plan.

By implementing these steps, you can build a membership that supports a consistent and reliable revenue stream. Good luck!