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Let's Talk About Membership Revenue · Build With Becky: Smart Strategies To Grow Your Community-Driven Business

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  Today
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  I
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  want
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  to
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  talk
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  about
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  everybody's
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  favorite
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  topic
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  when
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  it
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  comes
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  to
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  memberships,
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  which
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  is
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  the
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  recurring
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  revenue
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  aspect
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  and
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  why
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  people
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  often
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  launch
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  memberships
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  because
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  it
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  is
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  such
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  a
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  smart,
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  sustainable,
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  strategic
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  move
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  in
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  a
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  business
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  to
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  create
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  that
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  baseline
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  recurring
• 0:16
  revenue
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  that
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  compounds
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  over
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  time.
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  But
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  a
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  lot
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  of
• 0:19
  times
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  people
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  launch
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  memberships
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  with
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  the
• 0:21
  intention
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  for
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  a
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  membership
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  to
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  replace
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  other
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  revenue
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  in
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  their
• 0:24
  business.
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  So
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  for
• 0:25
  example,
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  I
• 0:27
  was
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  working
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  with
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  a
• 0:27
  client
• 0:28
  who
• 0:28
  wanted
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  to
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  replace
• 0:29
  services.
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  So
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  they
• 0:30
  are
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  running
• 0:30
  one
• 0:30
  to
• 0:31
  one
• 0:31
  services
• 0:31
  and
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  potentially,
• 0:33
  you
• 0:33
  know,
• 0:33
  in
• 0:33
  this
• 0:33
  example
• 0:34
  they
• 0:34
  have
• 0:34
  like
• 0:34
  coaching
• 0:34
  programs
• 0:35
  and
• 0:35
  they're
• 0:35
  doing
• 0:35
  a
• 0:35
  lot
• 0:35
  of
• 0:36
  like
• 0:36
  one
• 0:36
  to
• 0:36
  one
• 0:37
  stuff
• 0:37
  and
• 0:37
  they
• 0:37
  want
• 0:38
  to
• 0:38
  cut
• 0:38
  that
• 0:38
  out
• 0:38
  and
• 0:38
  just
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  have
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  their
• 0:39
  membership
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  because
• 0:40
  they
• 0:40
  know
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  that
• 0:41
  they
• 0:41
  love
• 0:41
  working
• 0:42
  with
• 0:42
  groups,
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  they
• 0:42
  want
• 0:43
  to
• 0:43
  serve
• 0:43
  people
• 0:44
  longer.
• 0:45
  Uh,
• 0:45
  the
• 0:45
  transformation
• 0:46
  that
• 0:46
  they're
• 0:46
  serving
• 0:46
  takes
• 0:47
  six
• 0:48
  months
• 0:48
  or
• 0:48
  more,
• 0:48
  sometimes
• 0:49
  over
• 0:49
  a
• 0:49
  year.
• 0:50
  And
• 0:50
  so
• 0:50
  a
• 0:50
  membership
• 0:51
  is
• 0:51
  a
• 0:51
  great
• 0:51
  model
• 0:51
  for
• 0:51
  this.
• 0:52
  But
• 0:52
  the
• 0:52
  problem
• 0:53
  is
• 0:53
  that
• 0:54
  oftentimes
• 0:55
  when
• 0:55
  we
• 0:55
  want
• 0:55
  to
• 0:56
  replace
• 0:57
  a
• 0:57
  service
• 0:57
  revenue
• 0:58
  in
• 0:58
  our
• 0:58
  business,
• 0:58
  either
• 0:59
  either
• 0:59
  one
• 0:59
  to
• 0:59
  one
• 1:00
  services
• 1:00
  that
• 1:00
  are
• 1:00
  pretty
• 1:00
  high
• 1:01
  ticket
• 1:02
  or
• 1:02
  we
• 1:02
  want
• 1:03
  to
• 1:03
  replace
• 1:03
  program
• 1:04
  like
• 1:04
  high
• 1:04
  ticket
• 1:05
  program
• 1:06
  revenue
• 1:06
  with
• 1:07
  an
• 1:07
  ongoing
• 1:07
  membership,
• 1:09
  this
• 1:09
  doesn't
• 1:10
  happen
• 1:10
  overnight.
• 1:10
  And
• 1:11
  so
• 1:11
  I
• 1:11
  get
• 1:11
  a
• 1:11
  lot
• 1:12
  of
• 1:12
  like
• 1:12
  my
• 1:12
  membership,
• 1:13
  I
• 1:13
  launched
• 1:13
  this
• 1:13
  membership
• 1:14
  because
• 1:14
  I
• 1:14
  want
• 1:14
  to
• 1:14
  replace
• 1:15
  my
• 1:15
  one
• 1:15
  to
• 1:15
  one
• 1:15
  income.
• 1:16
  But
• 1:16
  it
• 1:16
  hasn't
• 1:17
  happened
• 1:17
  yet.
• 1:17
  This
• 1:18
  is
• 1:18
  a
• 1:18
  common
• 1:18
  program
• 1:19
  problem.
• 1:19
  And
• 1:20
  what,
• 1:20
  so
• 1:20
  I
• 1:20
  want
• 1:21
  to
• 1:21
  talk
• 1:21
  about
• 1:21
  this.
• 1:21
  Like
• 1:21
  when
• 1:22
  somebody
• 1:22
  launches
• 1:23
  a
• 1:23
  membership,
• 1:24
  there's
• 1:24
  a
• 1:25
  lot
• 1:25
  of
• 1:25
  factors
• 1:25
  that
• 1:26
  go
• 1:26
  into
• 1:26
  how
• 1:26
  we
• 1:26
  project
• 1:27
  revenue
• 1:28
  around
• 1:28
  what
• 1:28
  this
• 1:29
  model
• 1:29
  is
• 1:29
  going
• 1:29
  to
• 1:29
  look
• 1:30
  like.
• 1:30
  And
• 1:31
  the
• 1:31
  reality
• 1:32
  is
• 1:32
  that
• 1:33
  memberships
• 1:33
  aren't
• 1:34
  really
• 1:34
  a
• 1:34
  quick
• 1:34
  win,
• 1:35
  they
• 1:35
  are
• 1:35
  a
• 1:35
  long
• 1:36
  term
• 1:36
  strategic
• 1:37
  move
• 1:37
  for
• 1:37
  sure
• 1:38
  because
• 1:38
  we're
• 1:38
  getting
• 1:38
  that
• 1:39
  compounding
• 1:40
  recurring
• 1:40
  revenue
• 1:40
  over
• 1:41
  time
• 1:41
  and
• 1:42
  we
• 1:42
  can
• 1:42
  continue
• 1:42
  to
• 1:43
  grow
• 1:43
  that.
• 1:43
  But
• 1:44
  it's
• 1:44
  not
• 1:44
  something
• 1:44
  that
• 1:45
  usually
• 1:45
  like
• 1:46
  out
• 1:46
  the
• 1:46
  gate
• 1:46
  replaces
• 1:47
  a
• 1:47
  lot
• 1:47
  of
• 1:47
  revenue.
• 1:48
  When
• 1:48
  our
• 1:48
  clients
• 1:49
  do
• 1:49
  strategies
• 1:49
  with
• 1:50
  us,
• 1:50
  which
• 1:50
  is
• 1:50
  always
• 1:50
  like
• 1:51
  the
• 1:51
  first
• 1:51
  step
• 1:51
  for,
• 1:52
  you
• 1:52
  know,
• 1:52
  any
• 1:52
  kind
• 1:52
  of
• 1:53
  like
• 1:53
  new
• 1:53
  membership
• 1:54
  strategy
• 1:54
  we're
• 1:54
  doing,
• 1:55
  we
• 1:55
  put
• 1:55
  together
• 1:56
  these
• 1:56
  financial
• 1:57
  projections.
• 1:57
  So
• 1:57
  we
• 1:58
  talk
• 1:58
  about
• 1:58
  pricing,
• 1:58
  we
• 1:59
  talk
• 1:59
  about
• 1:59
  revenue
• 2:00
  goals,
• 2:00
  we
• 2:00
  talk
• 2:01
  about,
• 2:01
  you
• 2:01
  know,
• 2:01
  like
• 2:01
  okay,
• 2:02
  what
• 2:02
  kind
• 2:02
  of
• 2:02
  money
• 2:02
  are
• 2:03
  you
• 2:03
  looking
• 2:03
  to
• 2:03
  replace
• 2:03
  in
• 2:03
  your
• 2:04
  business?
• 2:04
  Or
• 2:04
  what
• 2:04
  kind
• 2:04
  of
• 2:04
  revenue
• 2:05
  stream
• 2:05
  are
• 2:05
  you
• 2:05
  trying
• 2:05
  to
• 2:05
  add?
• 2:06
  What's
• 2:06
  your
• 2:06
  revenue
• 2:06
  goal
• 2:07
  here?
• 2:07
  How
• 2:07
  big
• 2:07
  is
• 2:08
  your
• 2:08
  audience?
• 2:08
  There's
• 2:08
  all
• 2:08
  these
• 2:09
  factors
• 2:09
  that
• 2:09
  go
• 2:09
  into
• 2:09
  pricing.
• 2:10
  So
• 2:11
  then
• 2:11
  we
• 2:11
  run
• 2:11
  the
• 2:11
  numbers,
• 2:12
  like
• 2:12
  what
• 2:12
  does
• 2:12
  this
• 2:12
  actually
• 2:13
  look
• 2:13
  like?
• 2:13
  Okay,
• 2:13
  if
• 2:14
  you
• 2:14
  have
• 2:14
  this
• 2:14
  many
• 2:14
  X
• 2:15
  number,
• 2:15
  number
• 2:15
  of
• 2:15
  founding
• 2:16
  members
• 2:16
  and
• 2:16
  then
• 2:16
  new
• 2:17
  members
• 2:17
  every
• 2:17
  month
• 2:17
  and
• 2:18
  a
• 2:18
  percentage
• 2:19
  of
• 2:19
  churn
• 2:20
  and
• 2:20
  all
• 2:20
  of
• 2:20
  this
• 2:21
  factors
• 2:21
  in.
• 2:21
  And
• 2:22
  then
• 2:22
  we
• 2:22
  do
• 2:23
  this
• 2:23
  projection
• 2:23
  to
• 2:23
  show
• 2:24
  like
• 2:24
  here's
• 2:24
  what
• 2:24
  your
• 2:25
  revenue
• 2:25
  could
• 2:25
  actually
• 2:26
  look
• 2:26
  like.
• 2:27
  Does
• 2:27
  this
• 2:27
  excite
• 2:28
  you?
• 2:28
  Does
• 2:28
  this
• 2:28
  work?
• 2:29
  Do
• 2:29
  we,
• 2:29
  what
• 2:29
  do
• 2:29
  we
• 2:29
  need
• 2:30
  to
• 2:30
  tweak?
• 2:30
  What
• 2:30
  levers
• 2:30
  do
• 2:31
  we
• 2:31
  need
• 2:31
  to
• 2:31
  pull
• 2:31
  to
• 2:31
  change
• 2:32
  this?
• 2:32
  Because
• 2:32
  obviously
• 2:33
  you
• 2:33
  could
• 2:34
  increase
• 2:34
  price,
• 2:34
  you
• 2:34
  might
• 2:35
  have
• 2:35
  less
• 2:35
  members.
• 2:35
  Like
• 2:36
  there's
• 2:36
  lots
• 2:36
  of
• 2:36
  levers
• 2:37
  to
• 2:37
  play
• 2:37
  with.
• 2:38
  Usually
• 2:38
  they're
• 2:39
  hitting
• 2:39
  their
• 2:39
  revenue
• 2:39
  goal
• 2:40
  in
• 2:40
  months,
• 2:41
  like
• 2:41
  8
• 2:41
  to
• 2:41
  12.
• 2:42
  Okay.
• 2:43
  So
• 2:43
  it's
• 2:43
  not
• 2:43
  like
• 2:43
  it
• 2:43
  takes
• 2:44
  years
• 2:44
  and
• 2:44
  years.
• 2:45
  I
• 2:45
  mean,
• 2:45
  depending
• 2:46
  how
• 2:46
  big
• 2:46
  your
• 2:46
  goal
• 2:46
  is.
• 2:47
  But
• 2:47
  it,
• 2:48
  it
• 2:48
  isn't
• 2:48
  something
• 2:49
  that
• 2:49
  usually
• 2:49
  happens
• 2:50
  in
• 2:50
  month
• 2:50
  one.
• 2:51
  So
• 2:51
  why
• 2:52
  is
• 2:52
  that?
• 2:52
  Right?
• 2:53
  Like
• 2:53
  that's
• 2:53
  what
• 2:53
  I
• 2:53
  want
• 2:53
  to
• 2:54
  get
• 2:54
  into
• 2:54
  today.
• 2:55
  So
• 2:55
  the
• 2:55
  members
• 2:55
  that
• 2:56
  join
• 2:56
  first,
• 2:56
  when
• 2:57
  you
• 2:57
  launch
• 2:57
  a
• 2:58
  new
• 2:58
  membership,
• 2:58
  this
• 2:59
  is
• 2:59
  a
• 2:59
  completely
• 3:00
  new
• 3:00
  offer.
• 3:00
  It's
• 3:00
  an
• 3:01
  ongoing
• 3:01
  product.
• 3:02
  Think
• 3:02
  about
• 3:03
  it
• 3:03
  like
• 3:03
  it's
• 3:03
  a
• 3:03
  little
• 3:03
  bit
• 3:04
  different
• 3:04
  than
• 3:04
  a
• 3:04
  program
• 3:04
  or
• 3:05
  other
• 3:05
  things.
• 3:05
  It's
• 3:05
  like
• 3:05
  a
• 3:05
  new
• 3:06
  product
• 3:06
  in
• 3:06
  the
• 3:07
  market
• 3:07
  that
• 3:07
  is
• 3:08
  now
• 3:08
  exists
• 3:09
  and
• 3:09
  is
• 3:09
  an
• 3:09
  ongoing
• 3:10
  thing.
• 3:10
  We,
• 3:10
  we
• 3:10
  see
• 3:11
  this
• 3:11
  with
• 3:11
  like
• 3:12
  e
• 3:12
  commerce
• 3:13
  brands.
• 3:14
  Like
• 3:14
  there's
• 3:14
  a
• 3:15
  new
• 3:15
  product
• 3:15
  in
• 3:15
  the
• 3:15
  market,
• 3:15
  we
• 3:15
  kind
• 3:16
  of
• 3:16
  want
• 3:16
  to
• 3:16
  see
• 3:16
  how
• 3:16
  it
• 3:16
  does
• 3:16
  in
• 3:17
  the
• 3:17
  market.
• 3:17
  Think
• 3:17
  about
• 3:17
  like
• 3:17
  every
• 3:18
  time
• 3:18
  Apple
• 3:18
  releases
• 3:19
  new
• 3:19
  offers.
• 3:20
  So
• 3:20
  your
• 3:21
  founding
• 3:21
  members,
• 3:22
  your
• 3:22
  people
• 3:22
  that
• 3:22
  join
• 3:23
  in
• 3:23
  the
• 3:23
  beginning,
• 3:23
  these
• 3:24
  are
• 3:24
  your
• 3:24
  early
• 3:25
  adopters.
• 3:26
  You
• 3:26
  may
• 3:26
  have
• 3:26
  heard
• 3:27
  of
• 3:27
  the
• 3:28
  Rogers
• 3:28
  innovation
• 3:29
  adoption
• 3:29
  curve
• 3:30
  before.
• 3:31
  So
• 3:31
  what
• 3:31
  the
• 3:32
  curve
• 3:32
  looks
• 3:32
  like
• 3:32
  is
• 3:33
  like
• 3:33
  basically
• 3:33
  like
• 3:33
  it's
• 3:34
  low
• 3:34
  in
• 3:34
  the
• 3:34
  beginning
• 3:34
  and
• 3:35
  it
• 3:35
  goes
• 3:35
  high
• 3:35
  in
• 3:35
  the
• 3:35
  middle
• 3:35
  and
• 3:36
  then
• 3:36
  down
• 3:36
  in
• 3:36
  the
• 3:37
  end.
• 3:37
  And
• 3:37
  I'll
• 3:37
  probably
• 3:38
  put
• 3:38
  this
• 3:38
  graphic
• 3:39
  on
• 3:39
  my
• 3:39
  social
• 3:39
  media
• 3:39
  so
• 3:39
  you
• 3:40
  can
• 3:40
  go
• 3:40
  stalk
• 3:40
  me
• 3:41
  and
• 3:41
  find
• 3:41
  it.
• 3:42
  But
• 3:42
  you've
• 3:43
  probably
• 3:43
  heard
• 3:43
  of
• 3:43
  this
• 3:43
  innovation
• 3:44
  curve
• 3:44
  before
• 3:45
  where
• 3:45
  the
• 3:46
  early
• 3:46
  adopters
• 3:47
  are
• 3:47
  essentially
• 3:48
  like
• 3:48
  15%
• 3:50
  of
• 3:50
  your
• 3:50
  most
• 3:51
  hungry
• 3:51
  audience
• 3:51
  that
• 3:52
  are
• 3:52
  going
• 3:52
  to
• 3:52
  be
• 3:52
  excited
• 3:52
  to
• 3:53
  join
• 3:53
  when
• 3:53
  you
• 3:53
  first
• 3:53
  launch.
• 3:54
  So
• 3:54
  you're
• 3:54
  not
• 3:55
  going
• 3:55
  to
• 3:55
  get
• 3:55
  all
• 3:55
  your
• 3:55
  people
• 3:56
  in
• 3:56
  the
• 3:56
  very
• 3:56
  beginning.
• 3:57
  And
• 3:57
  even
• 3:57
  I
• 3:58
  experienced
• 3:58
  this
• 3:59
  just
• 3:59
  launching
• 3:59
  my
• 4:00
  membership
• 4:00
  for
• 4:01
  membership
• 4:01
  builders
• 4:01
  for
• 4:01
  like
• 4:02
  our
• 4:02
  past
• 4:02
  clients
• 4:02
  and
• 4:03
  our
• 4:03
  current
• 4:03
  clients.
• 4:04
  Like
• 4:04
  I
• 4:04
  had
• 4:05
  this
• 4:05
  list
• 4:05
  of
• 4:05
  people
• 4:05
  that
• 4:05
  I
• 4:05
  was
• 4:06
  like,
• 4:06
  for
• 4:06
  sure
• 4:06
  these
• 4:07
  people
• 4:07
  are
• 4:07
  going
• 4:07
  to
• 4:07
  join.
• 4:07
  And
• 4:08
  like
• 4:08
  10
• 4:08
  of
• 4:08
  them
• 4:08
  didn't.
• 4:09
  And
• 4:09
  they,
• 4:09
  they
• 4:09
  didn't
• 4:10
  say,
• 4:10
  no
• 4:10
  thanks.
• 4:11
  They
• 4:11
  said,
• 4:11
  I'm
• 4:12
  really
• 4:12
  excited
• 4:12
  about
• 4:12
  this,
• 4:13
  I'm
• 4:13
  going
• 4:13
  to
• 4:13
  join
• 4:13
  later.
• 4:14
  Right?
• 4:14
  And
• 4:14
  so
• 4:15
  of
• 4:15
  course
• 4:16
  we
• 4:16
  can
• 4:16
  talk
• 4:16
  about
• 4:16
  marketing
• 4:17
  strategy
• 4:17
  and
• 4:17
  creating
• 4:18
  more
• 4:18
  urgency
• 4:18
  and
• 4:18
  whatever,
• 4:19
  but
• 4:19
  the
• 4:19
  reality
• 4:20
  is
• 4:20
  that
• 4:21
  product
• 4:21
  adoption
• 4:22
  is
• 4:22
  not
• 4:22
  100%
• 4:23
  in
• 4:23
  the
• 4:23
  beginning.
• 4:24
  So
• 4:24
  you
• 4:24
  can
• 4:25
  expect
• 4:25
  15%
• 4:26
  may
• 4:27
  join
• 4:27
  for
• 4:27
  your
• 4:28
  founding
• 4:28
  member
• 4:28
  launch.
• 4:29
  So
• 4:29
  the
• 4:30
  next
• 4:30
  sort
• 4:30
  of
• 4:31
  stage
• 4:31
  after
• 4:31
  that
• 4:32
  is
• 4:32
  what's
• 4:33
  called
• 4:33
  the
• 4:33
  early
• 4:33
  and
• 4:34
  late
• 4:34
  majority.
• 4:35
  So,
• 4:35
  so
• 4:36
  this
• 4:36
  means
• 4:36
  that
• 4:36
  the
• 4:36
  majority
• 4:37
  of
• 4:37
  people
• 4:37
  are
• 4:37
  gonna
• 4:38
  join
• 4:38
  after
• 4:38
  that
• 4:39
  period
• 4:39
  after
• 4:39
  your,
• 4:40
  after
• 4:40
  your
• 4:40
  initial
• 4:41
  Launch.
• 4:41
  After
• 4:41
  that
• 4:41
  first
• 4:42
  15%
• 4:42
  come
• 4:43
  in
• 4:43
  and
• 4:43
  they
• 4:43
  get
• 4:43
  to
• 4:43
  test
• 4:43
  the
• 4:44
  waters
• 4:44
  and
• 4:44
  find
• 4:44
  out
• 4:44
  if
• 4:45
  it
• 4:45
  works
• 4:45
  or
• 4:45
  not.
• 4:46
  So
• 4:46
  each
• 4:46
  of
• 4:47
  these
• 4:47
  next
• 4:47
  stages
• 4:48
  is
• 4:48
  roughly
• 4:48
  like
• 4:48
  34%.
• 4:49
  So
• 4:50
  your
• 4:51
  early
• 4:51
  or
• 4:51
  your
• 4:52
  early
• 4:52
  majority
• 4:52
  and
• 4:52
  your
• 4:52
  late
• 4:53
  majority
• 4:53
  are
• 4:53
  each
• 4:53
  34%.
• 4:54
  So
• 4:54
  68%
• 4:56
  of
• 4:56
  your
• 4:57
  members
• 4:57
  that
• 4:57
  are
• 4:57
  going
• 4:57
  to
• 4:58
  join,
• 4:58
  come
• 4:59
  in
• 4:59
  a
• 4:59
  little
• 4:59
  bit
• 4:59
  later.
• 5:01
  Okay,
• 5:01
  so
• 5:01
  let's
• 5:02
  take
• 5:02
  a
• 5:02
  step
• 5:02
  back.
• 5:02
  We
• 5:03
  know
• 5:03
  that
• 5:03
  15%
• 5:04
  are
• 5:04
  going
• 5:04
  to
• 5:05
  join
• 5:05
  in
• 5:05
  the
• 5:05
  beginning
• 5:05
  and
• 5:06
  that
• 5:06
  68%
• 5:07
  are
• 5:07
  really
• 5:07
  the
• 5:07
  next.
• 5:08
  34%
• 5:08
  are
• 5:09
  watching
• 5:09
  for
• 5:09
  what
• 5:09
  happens
• 5:10
  to
• 5:10
  decide
• 5:10
  if
• 5:10
  they
• 5:11
  want
• 5:11
  to
• 5:11
  join.
• 5:12
  So
• 5:12
  that
• 5:12
  means
• 5:12
  your
• 5:13
  best
• 5:13
  chance
• 5:14
  of
• 5:14
  experiencing
• 5:15
  the
• 5:15
  peak
• 5:15
  of
• 5:15
  that
• 5:16
  innovation
• 5:16
  adoption
• 5:17
  curve
• 5:17
  and
• 5:17
  getting
• 5:17
  the
• 5:17
  majority
• 5:18
  of
• 5:18
  the
• 5:18
  people
• 5:19
  in
• 5:19
  that
• 5:19
  you
• 5:19
  expect
• 5:20
  to
• 5:20
  join
• 5:21
  is
• 5:21
  that
• 5:22
  you
• 5:22
  need
• 5:22
  these
• 5:22
  early
• 5:23
  adopters
• 5:23
  to
• 5:23
  be
• 5:24
  raving
• 5:24
  about
• 5:25
  the
• 5:25
  product.
• 5:25
  They
• 5:26
  need
• 5:26
  to
• 5:26
  say
• 5:26
  like,
• 5:26
  this
• 5:26
  is
• 5:27
  an
• 5:27
  incredible
• 5:27
  experience.
• 5:28
  They
• 5:28
  need
• 5:28
  to
• 5:28
  be
• 5:28
  talking
• 5:29
  about
• 5:29
  it
• 5:29
  online.
• 5:30
  And
• 5:30
  what
• 5:30
  that
• 5:30
  means
• 5:31
  is
• 5:31
  that
• 5:31
  you
• 5:31
  need
• 5:31
  to
• 5:32
  have
• 5:32
  creative
• 5:32
  this
• 5:33
  like
• 5:33
  amazing
• 5:33
  beta
• 5:34
  experience.
• 5:35
  You
• 5:35
  need
• 5:35
  your,
• 5:36
  you
• 5:37
  know,
• 5:37
  flywheels
• 5:37
  going
• 5:38
  where
• 5:38
  they're
• 5:38
  sharing
• 5:38
  online.
• 5:39
  You
• 5:39
  need
• 5:40
  easy
• 5:40
  ways
• 5:40
  for
• 5:40
  them
• 5:41
  to
• 5:41
  talk
• 5:41
  about
• 5:41
  the
• 5:41
  membership,
• 5:42
  to
• 5:42
  invite
• 5:42
  their
• 5:42
  friends
• 5:43
  into
• 5:43
  the
• 5:43
  membership
• 5:44
  to
• 5:44
  give
• 5:44
  you
• 5:44
  feedback.
• 5:45
  Because
• 5:45
  you
• 5:46
  have
• 5:46
  to
• 5:46
  pour
• 5:46
  all
• 5:46
  your
• 5:47
  energy
• 5:47
  into
• 5:48
  improving
• 5:48
  this
• 5:48
  product
• 5:49
  and
• 5:49
  making
• 5:49
  it
• 5:49
  incredible
• 5:50
  using
• 5:50
  your,
• 5:51
  you
• 5:51
  know,
• 5:51
  co
• 5:51
  creating
• 5:52
  it
• 5:52
  with
• 5:53
  this
• 5:53
  early
• 5:53
  adopter
• 5:54
  group
• 5:54
  so
• 5:55
  that
• 5:55
  then
• 5:55
  we
• 5:56
  actually
• 5:56
  make
• 5:56
  it
• 5:56
  to
• 5:57
  the
• 5:57
  next
• 5:57
  stages
• 5:57
  of
• 5:57
  the
• 5:58
  curve.
• 5:59
  Because
• 5:59
  if
• 5:59
  you
• 5:59
  don't
• 5:59
  have
• 6:00
  that,
• 6:00
  if
• 6:00
  your
• 6:00
  early
• 6:00
  people
• 6:01
  aren't
• 6:01
  ecstatic,
• 6:02
  then
• 6:02
  it's
• 6:03
  going
• 6:03
  to
• 6:03
  be
• 6:03
  a
• 6:03
  lot
• 6:04
  harder
• 6:04
  to
• 6:05
  get
• 6:05
  more
• 6:05
  people
• 6:05
  in
• 6:05
  the
• 6:05
  door.
• 6:06
  And
• 6:06
  this
• 6:06
  is
• 6:06
  usually
• 6:07
  why
• 6:07
  memberships
• 6:08
  flop.
• 6:09
  Okay,
• 6:09
  so
• 6:09
  what
• 6:09
  does
• 6:09
  this
• 6:10
  actually
• 6:10
  look
• 6:10
  like
• 6:10
  and
• 6:10
  how
• 6:10
  can
• 6:11
  we
• 6:11
  actually
• 6:11
  be
• 6:11
  successful
• 6:12
  here?
• 6:12
  So
• 6:13
  the
• 6:13
  first
• 6:13
  thing
• 6:13
  I
• 6:13
  want
• 6:14
  you
• 6:14
  to
• 6:14
  know
• 6:14
  is
• 6:15
  that
• 6:15
  the
• 6:15
  sooner
• 6:15
  you
• 6:15
  get
• 6:15
  out
• 6:16
  your
• 6:16
  product,
• 6:16
  the
• 6:16
  sooner
• 6:17
  you
• 6:17
  can
• 6:17
  learn,
• 6:17
  the
• 6:17
  sooner
• 6:18
  you
• 6:18
  can
• 6:18
  get
• 6:18
  feedback
• 6:18
  and
• 6:18
  the
• 6:19
  sooner
• 6:19
  you
• 6:19
  can
• 6:19
  make
• 6:19
  it
• 6:19
  to
• 6:20
  that
• 6:20
  like
• 6:20
  68%
• 6:21
  of
• 6:21
  your
• 6:21
  people
• 6:21
  joining
• 6:22
  and
• 6:22
  you're
• 6:22
  hitting
• 6:22
  your
• 6:22
  revenue
• 6:23
  goal
• 6:23
  a
• 6:24
  lot
• 6:24
  faster.
• 6:25
  In
• 6:25
  order
• 6:25
  to
• 6:26
  get
• 6:26
  there,
• 6:26
  you
• 6:26
  need
• 6:26
  to
• 6:27
  design
• 6:27
  an
• 6:27
  incredible
• 6:28
  beta
• 6:28
  experience,
• 6:29
  which
• 6:29
  means
• 6:29
  we
• 6:29
  need
• 6:30
  to
• 6:30
  understand
• 6:30
  who
• 6:30
  we're
• 6:30
  serving.
• 6:31
  We
• 6:31
  want
• 6:31
  to
• 6:31
  set
• 6:32
  a
• 6:32
  clear
• 6:32
  revenue
• 6:33
  goal,
• 6:33
  we
• 6:33
  want
• 6:33
  to
• 6:33
  set
• 6:34
  a
• 6:34
  member
• 6:34
  goal,
• 6:34
  we
• 6:35
  want
• 6:35
  to
• 6:35
  understand
• 6:35
  what
• 6:36
  they
• 6:36
  need,
• 6:36
  we
• 6:36
  want
• 6:36
  to
• 6:37
  design
• 6:37
  this
• 6:37
  incredible
• 6:37
  experience
• 6:38
  and
• 6:38
  we
• 6:38
  want
• 6:38
  to
• 6:39
  serve
• 6:39
  them
• 6:39
  really,
• 6:40
  really
• 6:40
  well.
• 6:41
  So
• 6:41
  a
• 6:41
  membership
• 6:42
  product
• 6:42
  is
• 6:43
  not
• 6:43
  necessarily
• 6:44
  a
• 6:44
  quick
• 6:44
  win
• 6:44
  product.
• 6:45
  It's
• 6:46
  not
• 6:46
  something
• 6:46
  that
• 6:46
  is
• 6:47
  going
• 6:47
  to
• 6:47
  be
• 6:47
  a
• 6:47
  success
• 6:48
  overnight
• 6:49
  in
• 6:49
  the
• 6:49
  way
• 6:50
  that
• 6:50
  any
• 6:50
  valuable
• 6:51
  long
• 6:51
  term
• 6:52
  product
• 6:52
  is
• 6:52
  in
• 6:53
  the
• 6:53
  market.
• 6:54
  Membership
• 6:54
  revenue
• 6:55
  is
• 6:55
  a
• 6:55
  long
• 6:56
  term
• 6:56
  strategic
• 6:57
  move
• 6:57
  and
• 6:57
  that
• 6:58
  means
• 6:58
  you
• 6:58
  need
• 6:58
  a
• 6:58
  solid
• 6:59
  strategy
• 6:59
  to
• 7:00
  get
• 7:00
  it
• 7:00
  started
• 7:00
  and
• 7:01
  to
• 7:01
  get
• 7:01
  it
• 7:01
  going.
• 7:02
  So
• 7:02
  that
• 7:02
  you
• 7:02
  can
• 7:02
  really
• 7:03
  experience
• 7:03
  the
• 7:03
  peak
• 7:04
  of
• 7:04
  adoption
• 7:05
  in
• 7:05
  that
• 7:05
  first
• 7:06
  and
• 7:06
  second
• 7:06
  year.
• 7:07
  So
• 7:07
  if
• 7:07
  you're
• 7:08
  interested
• 7:08
  in
• 7:08
  getting
• 7:08
  our
• 7:09
  support
• 7:09
  with
• 7:09
  creating
• 7:10
  your
• 7:10
  membership
• 7:10
  strategy,
• 7:11
  if
• 7:11
  you've
• 7:11
  been
• 7:11
  thinking
• 7:11
  about
• 7:12
  launching
• 7:12
  one,
• 7:12
  or
• 7:13
  if
• 7:13
  you're
• 7:14
  in
• 7:14
  those
• 7:14
  early
• 7:14
  stages
• 7:15
  and
• 7:15
  it's
• 7:15
  not
• 7:15
  quite
• 7:16
  working
• 7:16
  and
• 7:16
  you
• 7:16
  need
• 7:16
  help
• 7:17
  kind
• 7:17
  of
• 7:17
  like
• 7:17
  fumbling
• 7:18
  through
• 7:18
  it
• 7:18
  and
• 7:18
  getting
• 7:18
  it
• 7:19
  to
• 7:19
  that
• 7:19
  next
• 7:19
  level,
• 7:20
  then
• 7:20
  book
• 7:21
  a
• 7:21
  discovery
• 7:21
  call
• 7:21
  with
• 7:22
  my
• 7:22
  team.
• 7:22
  It's
• 7:22
  absolutely
• 7:23
  free.
• 7:23
  The
• 7:23
  link
• 7:23
  is
• 7:24
  in
• 7:24
  the
• 7:24
  show
• 7:24
  notes.
• 7:24
  We
• 7:24
  would
• 7:25
  love
• 7:25
  to
• 7:25
  talk
• 7:25
  to
• 7:25
  you
• 7:25
  about
• 7:26
  about
• 7:26
  what
• 7:26
  you're
• 7:26
  thinking
• 7:26
  about
• 7:27
  building
• 7:27
  and
• 7:28
  give
• 7:28
  you
• 7:28
  some
• 7:29
  ideas
• 7:29
  and
• 7:29
  direction
• 7:30
  and
• 7:30
  talk
• 7:30
  about
• 7:31
  what
• 7:31
  a
• 7:31
  strategy
• 7:32
  face
• 7:32
  looks
• 7:32
  like
• 7:32
  with
• 7:32
  us.
• 7:33
  Okay,
• 7:33
  thanks
• 7:34
  so
• 7:34
  much.
• 7:34
  If
• 7:34
  you
• 7:34
  loved
• 7:34
  this
• 7:35
  episode,
• 7:35
  if
• 7:35
  you
• 7:35
  thought
• 7:35
  it
• 7:35
  was
• 7:36
  interesting,
• 7:36
  share
• 7:36
  it
• 7:36
  with
• 7:36
  a
• 7:37
  friend.
• 7:37
  Send
• 7:37
  me
• 7:37
  a
• 7:37
  dm.
• 7:38
  I'd
• 7:38
  love
• 7:38
  to
• 7:38
  connect
• 7:38
  with
• 7:39
  you
• 7:39
  and
• 7:39
  I'll
• 7:39
  talk
• 7:39
  to
• 7:40
  you
• 7:40
  next
• 7:40
  time.