Business

How to Run a Profitable Subscription Business that Creates Recurring Revenue in to Your Coaching & Consultancy Business

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How to Run a Profitable Subscription Business that Creates Recurring Revenue in to Your Coaching & Consultancy Business

One of the side benefits of having a subscription programme is the fact that you get lots of highly qualified leads of people who have become used to your material, you and your style, and want to have more time with you.

If that was the only reason to run a subscription programme, it would be worthwhile. Aside from that, imagine on the first day of every month your income pours into your business. This means no more ’feast and famine’. You’re not only swapping your valuable time for money

When you’re running a subscription programme one of the two areas we need to consider is what it is precisely what we’re offering.

What type of subscription model would work for you?

What type of subscription model would work for you?

Types of Subscription Models

    • Community or
    • Mastery

If you’re going to create a mastery subscription then what you’re saying to your intended audience members is:

“I’m going to show you how to do this…”

    • How to improve your skills in this area…
    • How to be more knowledgeable about this…
    • How to get greater levels of success over here…
    • How to avoid these problems over here…

If you’re going to build a community-based subscription programme then that has a lot of interaction. One of the reasons that people will stick with you for a long time is they feel part of that community. They are interacting, helping each other, posting pictures etc and you are building a private group for the members only

Are you building that community?

Are you building mastery?

Or are you building a combination of it? One of my subscription offering is a combination of mastery and community.

I recommend you read The Automatic Customer by John Warrillow. It’s essential for any serious player with any subscription programme.

How Will You Deliver Your Subscription Programme?

ACCESS ONLINE or PHYSICAL DELIVERY?

I do still receive two newsletters in the post. However, these days, more and more subscription programmes provide their content online.

Again, this is putting in place the bricks at the bottom of our pyramid of our success in a profitable subscription programme: How are we going to provide what it is that we’re supplying?

To give you an idea I run three different subscription programmes, and they’re delivered in different ways and at very different investments
A high level one-to-one ‘done for/with you’ service, where we take the stress out of someone having to learn the processes for themselves. For this level of personal contact, clients pay between £3,000 – £10,000 per month
A face-to-face mentoring group, where we meet our clients for 2 days every other month and this is priced at £295 per month

A global online monthly subscription programme, with a live monthly interactive web meet and an online platform for access to content. This is our entry level subscription model at £49 per month

That’s called – escalation.

The more a client has personal access to you – the higher the investment will be.

Remember, people are rarely price sensitive, usually value sensitive. There is always a percentage of the market who are very happy to pay for a premium service. This is why we have first class seats on airlines, luxury cars, Michelin stars .

Here are some subscription models for you to consider:

  • Physical meetings
  • Online meetings
  • Online access
  • Physical items in the post

You can supply your information and just tell people what they need to know. You can then move up the scale and you can say to people, “I’m not only going to tell you what you need to know, but I’m going to tell you how to do it as well.”

Capturing Your Content Creation:

I have a series of hanging files on all the content areas I cover Selling/Business Growth/Personal Growth/ Product Creation /Marketing etc and whenever I read something or think about something I want to cover it goes in my hanging files – ready for the moment I need it.

Just keep on capturing your ideas about content, then you never run into the problem of knowing what to write/film about.
Content is all around us…

Wishing you every Success.

Peter Thomson

“The UK’s Most Prolific Information Product Creator”

www.peterthomson.com

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The Yesterday’s Road Method: How to Write a Business Plan That Turns Potential Failure into Future Success

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The Yesterday’s Road Method:
How to Write a Business Plan That Turns Potential Failure into Future Success

I want to share with you the exact steps to take to achieve your goals and become more successful, both personally and professionally. My unique approach is called “The Yesterday’s Road Method”, and using it to write a business plan has helped me and many of my key clients to avoid failure and achieve success. Are you ready to become more successful? Then get ready to take a trip down Yesterday’s Road.

The Yesterday’s Road method is a major tool in my toolbox of success. I use it to get total clarity over my current situation and to know for certain which actions will lead to the achievement of my goals. Let me give you the background of the idea…

My Yesterday’s Road to Success — Designing the Method

Many years ago, I was running a leasing brokerage called Compass Leasing PLC. The business was built up over a five-year period and became very successful, employing 65 people and earning a healthy profit. .

When I decided to sell up, I made a deal with the purchaser on a one-year earn-out basis. I would receive 1 million pounds up front, plus 1.6 million in shares, and provided I hit the turnover and profit figures over the first year, I would receive an additional 1.6 million pounds after the earn-out period.

Halfway through the earn-out year, we lost a major client, who moved out of the leasing industry. There was a significant risk that we might not hit the earn-out figure, which would have cost me an incredible amount of money, so I gathered my team of five directors and came up with a plan that would help us to hit our targets despite the challenging circumstances.

And So The Yesterday’s Road Method Was Born…

I said to my directors, “Let’s imagine that it’s the 31st of March next year and we have not hit the earn-out figures, and we are not going to get the second tranche of the money.
“We’ve got to really feel this, we’re not going to say, ‘oh well, not to worry, we didn’t do it.’ You’ve got to be angry, upset, you’ve got to be so emotional about it.
“When you’re in that emotional state, write down this statement for me… ‘if only I’d…’ and then follow those three words up with whatever comes into your head during the next half hour.

I sent them off to complete the task, wrote down my own thoughts and we all reconvened thirty minutes later.

The rest of the day was spent writing a business plan that covered every single day between that day and the end of March the following year based on the insights gained from each of us about potential failures that could derail us on the path to success.

From that day onwards, every day when we came into the office, the directors and I would look at the business plan, and the only things we would do each day were the things on that plan.
At the end of the earn-out period, we had soared through the figures, and we got the second tranche of the money — the other 1.6 million pounds. Since then, I have refined the process to make it even more powerful. I’ve been using it now for well over 25 years, and it works.

Getting Started with The Yesterday’s Road Method — How to Write Your Business Plan

The Yesterday’s Road approach to writing a business plan requires ownership, honesty and really feeling the potential positive or negative impact of your future choices.

To start with, sit down and think about the goal you’re trying to achieve. Imagine you’re at the point in the future where you should, could or would have achieved the goal, but imagine that you haven’t.

Get annoyed about it. Get upset about it. Get angry about it — you need to feel whatever emotion comes to mind and gets you focused on the task at hand.

When you’re in that emotional state, write down the words “if only I’d…” then write down everything you should have done because remember, you’re in the future, having not achieved the goal. Think about potential missed opportunities, bad decisions and missteps — write them all down and leave nothing out.

Then when you’re done, relax, change state, maybe get up and walk around, and have a glass of water. When you’re ready, come back to the task at hand.

Now, go forward into the future again, except this time imagine you’re at the point where you should have achieved the goal and the end result is positive.

Say to yourself “yes, I achieved the goal because I…” and write down the positive steps the future you has taken to achieve the goal — the decisions you made, the actions you took and the milestones you reached.

Now you have two versions of the same timeline — you have the away version, a catalyst for action, and the toward version, which leaves a positive impression in your mind.

When you are happy that you have written down all of your potential positive and negative movements, milestones and outcomes, all you need to do is to take those insights and turn them into a prioritised timeline of actions that highlights any potential problems and eliminates them, guaranteeing your future success.

Now all that’s left is to start to take action!

When Can I Use The Yesterday’s Road Method?

You can use The Yesterday’s Road Method to create an actionable plan that will help you achieve any goal — professional, personal or social. You can use it to gain success in business, become fitter or lose weight — whatever it is that you want to do in your life.

The Yesterday’s Road Method will work for you because you know you better than anybody knows you. You know all your inner thoughts, your demons, your angels — everything about you. You know and, therefore, when you ask yourself these two focused questions, your mind will tell you how to overcome the obstacles in your path and achieve the success you deserve.

Here’s the downside of the idea.

The downside of The Yesterday’s Road Method is that it’s so darn good that you don’t have any excuse for not taking action.

Here’s the pitfall…

The only potential pitfall is that you edit your answers to those two vital questions we discussed earlier and limit the insight that they can give you.

That’s the only potential pitfall I’ve ever found, and I’ve shared this for over 25 years with people who’ve taken it away and been amazed at how well it works for them.

Here’s the next step…

All you need to do is take action!

Wishing you every Success.

Peter Thomson

“The UK’s Most Prolific Information Product Creator”

www.peterthomson.com

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