Some reflections about the new membership site idea.
The challenge of building a membership site offer for AI processes...
Retention is way harder than normal.
Typical membership sites offer courses.
People need to watch dozens of hours of videos, and take even more time to implement the lessons.
The slow speed of implementation actually assists retention because people need the time.
But I'm giving folks my actual processes.
Members don’t need to consume dozens of videos in order to extract value.
All they need to do is swipe them, and use them immediately.
The best teacher there is, AI, teaches you the process.
Not only teaches you, but helps you overcome mindset blocks in your process of implementing them.
No 40-hour course modules or homework assignments.
Which means people could join, copy everything, then leave after month one.
But if we do this, where is the mechanism for retention?
How will the offer be sustainable?
The idea feels risky.
This hits particularly hard because I’m proud of the products I’ve built.
I've spent years developing these systems on my own.
And seen enough of my competitors to say the following with a hundred percent conviction:
I'm a ‘Bentley’
I’m premium. I appeal more to sophisticated buyers than the mass market.
And I’m proud of it.
What’s worse is that there’s proof my products are valuable enough, people wanted to steal from me.
I've been dealing with chargeback scammers for months.
People who buy, attend calls, then tell their bank they "never authorized the payment."
Some of you may recall that in July, Stripe shut me down because (thanks to these fraudsters) Stripe thought my account is ‘high risk’.
Building this membership offer, not gonna lie, makes me feel vulnerable.
But I’m going to do this anyway because the mission has changed.
And in the process of making this decision, I was reminded about two truths:
There will always be people who steal
People who have such mentality, is likely not going to make it
So instead of spending all my energy trying to protect myself, I will choose expansion instead.
I will figure out a way to make staying so valuable, the real ones won't want to leave.
Reply FACTORY if you want to be notified when it's ready.
FELIX