304 - Ignore This Terrible Advice About Your Membership Business
Membership Geeks Podcast with Mike Morrison · Membership Geeks
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Show Notes
There’s a lot of advice out there about memberships, some of it good, some of it downright awful! If you’re not sure who to listen to or you’re worried you’ve made a mistake about starting a membership, don’t miss this episode.
In this episode, we break down the five top pieces of bad (and damaging) advice we’ve seen about running a membership.
We take you through competition in the membership world, whether you really need scarcity to sell and if memberships are as dead as people claim. *Spoiler* they’re not!
Essential Learning Points:
- How to recognize bad membership advice
- Why the membership model is NOT dying out
- Why healthy competition is good
- The problem with using scarcity to sell
- Why a closed-door membership does not mean less work
Important Links & Mentions:
- The Membership Guys
- Membership Academy
- 1,000 True Fans by Kevin Kelly
- Competing with Established Memberships in Your Market
- Are You Leaving Money On The Table in Your Membership Business?
Key Quotes:
“It’s fine to leave money on the table if it’s not a table you want to sit at.”
“If you’re building your business and basing your strategy on whatever’s in vogue this month, then that’s the wrong approach.”
“We shouldn’t be scared off by the existence of competition or worried that a market is too oversaturated. In fact, it’s more of a worry if there’s no competition.”