Who doesn’t want to make money working from home? Even the folks that enjoy their jobs wouldn’t mind bringing in some extra cash.
The biggest challenges that those who aren’t in the known face when looking to start a home-based business are information overload caused by having too many options, untrustworthy information sources, and a lack of time.
In this article, we will share one of the most time-tested and proven ways to make money right from the comforts of your home.
Let’s jump right in and get it done…
Membership sites are the holy grail of making money online because it’s one of the most dependable online business models known for their ability to produce passive and predictable monthly recurring income.
This recurring income is also known as continuity, and you’re very familiar with this business model whether you’re aware of it or not.
Let us prove it to you by informing you of different industries that use the continuity business model.
Your Utility companies charge you a monthly fee to provide you with necessities such as Electricity and Water.
Magazines charge either a monthly, quarterly, or annual subscription fee.
Are you starting to see that the membership business model is used everywhere and with several different products and services nowadays?
More and more companies are adopting the membership business model so that they can lock in profits in advance.
Let’s do some simple math…
Let’s say that you had a membership site where you taught yoga online and charged only $10 per month.
With just 1000 members paying that measly $10, you’d be banking a cool $10,000 per month ($10 x 1000 members = $10,000).
That’s a very realistic figure because some sites have thousands of members and charge more money.
We’re being very conservative here because we don’t want to hype things up.
Here are a few examples of membership sites that make millions per year:
- lynda.com (purchased by LinkedIn for more than 1 billion dollars)
We introduced those sites to you in order to show you what’s possible.
Here are the reasons that we choose the Membership business model:
Reason 1: Predictable Monthly Recurring Income
Reason 2: Your Profits Compound As More Members Join
Reason 3: You Get Paid Over And Over For Work You Do Once
Reason 4: It Provides You with Time And Financial Freedom
Reason 5: Ability To Provide Multiple Solutions All In One Place
Reason 6: Has The Potential For You TO Create Your Own Retirement Nest Egg
Membership Site Cons
Con 1: You have to figure out all the moving parts necessary to build it
Con 2: You have to figure out how to put those moving parts together
Con 3: You will not know if you’re choosing the right technologies
Con 4: You have to know if you’re targeting the right niche markets
Con 5: Can you trust the How-To information taught by the gurus?
While Membership Sites are our Top Pick for making passive recurring income, we have to inform you about the challenges that you will face if you decide to choose that business model, because we’re not going to paint this “Pie-In-The-Sky” lie.
It can take you 5 to 10 years to figure out how to build a successful membership site if you go at it alone.
The best way to save yourself years of wasted effort and money is to invest in a proven membership system.
Otherwise, you may end up giving up on your dream of generating passive income.
Do yourself a favor and find a mentor who has created a course that teaches you how to build successful membership sites.