Courses vs. Membership, Self-paying loans and more!
In this post we settle the courses vs. membership debate, talk about self-paying loans and more!
Hey Friends!
Welcome to another edition of my Sunday Scribbles. Here are some of the things that I learned this past week...
Getting Organized
Marie Poulin is very organized in how she and her husband handle their finances. She has created and intricate and amazing system using Notion as her main content hub. If you are interested in productivity and using Notion to its fullest, this is an article you want to check out.
Self Coaching
I was having a down day earlier this week. And when that happens, I think it is important to remember that my Circumstances lead to thoughts, which cause my feelings, which dictate my actions, that ultimately lead to my results. This is the cornerstone of the model taught by Brooke Castillo (and several others). I’m not one to get too much into the “woo”, but when I’m having a bad day, I like to stop and use this model to “check myself” and evaluate what is happening in my body.
Self-Paying Loans?
As I discussed earlier this week in this Twitter Thread, I’m starting to learn more and more about Crypto, and the possibilities are mind-blowing. Especially this idea by Nat Eliason.
The basic idea is that you can invest in DAI, which is a form of stablecoin that is pegged to the USD and then use Alchemix (a DeFI protocol - but I’m still not sure what that means), to borrow up to 50% of the value of your DAI. The interest on the underlying investment (which is currently approx. 10% APY) will pay down the debt automatically and you can use the funds for whatever you would like - ideally to finance your lifestyle.
I had to read the article 2-3 times before I fully understand what he was suggesting, but it makes sense and seems financially sound.
Courses vs. Memberships
This week I listened to a great episode of the SPI Podcast where Pat Flynn interviewed Josh Hall.
Rather than sell only a membership (as I am currently doing), Josh is selling both courses AND a membership. The courses are the introduction to his platform and range in price from $67 to $497. Once someone has purchased a course, Josh introduces them to his monthly membership, which is $99 per month and includes weekly calls and access to him through a community on Circle.io.
This model is genius and is the solution I’ve been searching for for quite some time. I love the course model, because you can make a significant amount of money from a launch, but I also love the membership model because it smooths out the bad months when you aren’t launching.
This to me seems to be a great combination of both, and is something I plan to begin implementing into my business in the coming weeks. (Rest assured, if you are reading this and already a membership student, I plan to grandfather you in to all the courses we currently offer).
❤️ My Favorite Things
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📚 Book - Currently reading The Minimalist Entrepreneur by Sahil Lavingia (founder of Gumroad)
🎬 YouTube Video - We are traveling to Lisbon, Portugal this week, so I checked out this video for some places we might want to eat!
📱 Productivity App - I’ve started investing in Crypto using Coinbase. It’s super easy to use and set up. If you are interested in starting, use this link and earn $10 in Bitcoin when you make your first purchase.
🖋 Quote of the Week
Your teaching needs to make an impact on your audience in a tangible way before you can expect them to purchase something from you.
Lewis Howes