Recurring revenue is often seen as “the Holy Grail” of business – who wouldn’t want income that’s practically guaranteed month after month? I launched a paid membership program that initially looked successful, but ended up being a major drag. Here’s how I made the tough call to shut it down, and how I communicated it to the members. But there’s a happy ending to the story – I was able to redeem some of the material and turn it into a popular new course.
1:50 – My attempt at a monthly subscription program
2:45 – The GOOD results… and the warning signs
5:30 – The disastrous relaunch
7:25 – Two keys to a successful membership program (+examples)
9:53 – Why I didn’t start a community, but how you can do successfully
14:30 – Why I ended it earlier than planned, and how I notified the members
16:55 – How I turned a dead program into a profitable new product