Welcome to Series 3 of the Plutus Awards Podcast! The team is excited to present a new series of episodes, providing our listeners with the best actionable tips and personal success stories from superstars in our community and from the diverse experiences of many creators and entrepreneurs.
Attract Lifetime Paid Subscribers with a Membership Site
Offering a membership site can be a profitable decision, but the benefits of this model are entwined with its unique challenges. How should we go about deciding whether a membership site is suitable for our business and navigate the teething troubles of adopting this model?
In this episode, Sarah Li Cain speaks with David Stein, the founder of Money For the Rest of Us, about the intricacies of operating a membership site and the steps he took to set his membership site up for success.
- How David came up with his pricing model
- How David marketed his membership site
- The systems David set in place to operate his membership site smoothly
- How David converts podcast listeners to membership and forum subscribers
- How David responds to the biggest challenges in operating a membership site
|1:09||When David decided to launch his paid membership site|
|2:06||How members respond to the perks of membership offers|
|2:52||Why David pivoted to launching a membership site|
|4:37||How David came up with his pricing model|
|7:02||David discusses the market for lifetime membership plans|
|7:52||How David marketed his membership site|
|9:55||Launches, Evergreen models, and the emotional impact of different business models|
|11:16||How David plans to retire from his business|
|13:46||The systems David set in place to operate his membership site smoothly|
|15:07||How David moderates discussion forums|
|16:23||How David converts podcast listeners to membership and forum subscribers|
|17:43||David’s take on promoting subscriptions in an email list|
|20:18||How David responds to the biggest challenges in operating a membership site|
|23:50||Where to find David Stein|
|24:03||Lessons & wrap-up|
About David Stein
David Stein is the founder of the Money For the Rest of Us. Since 2014, he has produced and hosted the Money For the Rest of Us investing podcast. The podcast reaches tens of thousands of listeners per episode and has been nominated for six Plutus Awards. David also oversees Money for the Rest of Us Plus, the premier investment education platform that provides professional-grade portfolio tools and training to help individual investors manage their own investment portfolios. He is the author of Money for the Rest of Us: 10 Questions to Master Successful Investing, which was published by McGraw-Hill. Previously, David was an institutional investment advisor and asset manager. He was a managing partner at FEG Investment Advisors, a $15 billion investment advisory firm. At FEG, David served as Chief Investment Strategist and Chief Portfolio Strategist.
You can follow David on his website.