John Lee Dumas is an amazing personal friend, known for his podcast, Entrepreneurs on Fire and his website eofire.com. John is not only a prolific podcaster, he is also a true membership master inside his membership community, Podcasters’ Paradise. In it, he teaches aspiring podcasters how to start, build, grow, and monetize podcasts of their own.
What You'll Learn:
Memberships do have legs, you can give yourself a raise every day.
The ins and out of lifetime offers.
There are pros and cons to everything you do in life.
How to turn ‘making a living into ‘making a fortune.'
How to keep your finger on the pulse.
All things website!
Show Notes
In 2013, John was running along the bay in San Diego when he started thinking about his podcast and its’ success. But, he couldn’t quite put his finger on what was missing, things that he kept hearing from his audience. What are their:
Struggles?
Obstacles?
Challenges?
Some of them were saying they would love to start a podcast about ____. Their problem? They didn’t know where to start, what their first step should be.
At the time, John would send them different blog posts, YouTube videos, whatever he could find on the internet.
Every membership should pre-launch. You should never do anything until someone votes with their wallet.
Because, a survey where you can click a little button, that’s easy. But, when it comes time to put the money on it, suddenly that changes if they’re not serious.
People come for your courses, but they stay for the people. They stay for leadership. they stay for community.
Memberships do have legs, you can give yourself a raise every day.
If you do out and sell 5 members tomorrow at $100/month, you just gave yourself a $500 raise!
Each membership has its’ own journey. No matter what number of members you lose each month, you will replace them, you just have to keep moving.
When John started Podcasters’ Paradise, he was focused on just getting it out there. He wanted to make sure the concept was proven and people had voted with their wallets. Then, once he had that down, it was just about figuring everything out.
When membership officially launched, it was $500 for a lifestyle membership. No monthly recurring payment.
John’s fear at first was that people would just come for the trainings, tutorials, and templates. Every now and then, it would be about questions.
A few months in, John put up a surveys and questions that asked what peoples’ favorite part of Podcasters’ Paradise was.
The response was that it was videos, the templates, the webinars. Luckily, John left a spot for an ‘other’ option.
It only took one person responding other. It said, “came for the tutorials, stayed for the community.” Everybody voted for that one. The first 20 people voted the answers that John put in, but then everyone started answering that they stayed for the community, after that person answered.
Lifetime offers not only give you a great influx of cash, build an anchor. A core crew inside of your membership, those members will probably buy everything else you’re ever going to sell.
This reminds us of one of our members. Because she decided to make lifetime offers, she made $47,000 in one month. Then, the next two months, her community became more alive than ever!
John Lee Dumas experienced this too. For his members that did the monthly payments up to a 12-month payout until their lifetime membership, they get to month 8 or 9, and they begin counting down to that payout being done. John knows that a decent percentage of those people that pay every single mont...