The Magic of Membership

I’d like my next business to be membership-based.

I’ve been thinking about this ever since looking at the bookkeeper training business that was for sale.

The owner told me that, like many online courses, most people don’t follow through and complete the training. Those people cancel after a month or two.

But the true customers will complete the course, start getting bookkeeping clients, and continue their monthly membership for a year or longer.

They stay because of the value that continues to be provided month after month.

On a recent episode of the My First Million podcast, Shaan Puri said that you want to create 10 times more value than you’re taking.

Beyond the initial training, a membership-based business like this provides value in three ways: continuing education (they’re always more to learn), access to experts, and a sense of community.

In the member forums, I saw people helping each other by answering questions, providing encouragement, and celebrating their wins.

There’s a lot to like about this model. I haven’t found any similar listings yet, but I’m on the lookout.

If you know someone with a membership-based business who might be open to selling, let me know.

- Matt

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