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4.1 Paid Memberships in a Nutshell

Whatever you call them - member only, membership, subscription, or mentor websites, they all have one thing in common. They are bringing in steady and constant cash flow for their owners, month after month, from a few hundred dollars to tens of thousands of dollars. The array of the topics of these websites is endless.

Some of these paid membership sites provide mentoring or coaching, others publish useful articles or information in a particular field or product. Still others publish the results of tests and studies or product reviews. Some membership sites provide specialized service or act as a meeting place for people with a common interest and then there are those that provide step-by-step instructions for such things as painting or music.

All these sites have one thing in common: to access the website (or the best information on the site) you have to pay for it! Which begs the question...why would anybody pay for information on the Internet?

The answer is simple. People buy information that they could probably find for themselves if they looked long enough and hard enough, because they want to save time or because they think the information will be better or more specialized or because the information just isn’t available to them unless they pay for it.

Just a few short years ago it was almost unheard of to charge for access to a website and almost no one was doing it. Today, however, it is the norm and not the exception. Actually we have Internet dating sites to thank for this huge money making opportunity.

The Internet dating industry began with free membership sites that were mostly populated by nerds, weirdoes and perverts. It was quickly discovered that ordinary people would gladly pay to have access to lists where the posters had been screened even just a little. Now people actually expect to pay for access to valuable information.

4.2 The Pros

A successful member only, paid membership site is one of the best ways to make money online. A successful membership site can produce a steady income comparable to that of a successful corporate executive but without the job. This is the biggest advantage to a paid membership website owner. It provides a recurring stream of income, and a steady, reliable source of money month after month. The steady stream of income provided by such a concept has led many people to abandon the old one time sale model in favor of this more dynamic approach.

Let’s say if you had just 200 people paying you just $20.00 a month, you would have a steady cash flow of $4000.00/month, month after month, rain or shine. Many people accomplish this the first month or two their site is up. But that’s just the beginning. Some individuals have member only websites that generate many times that amount of money. People are eagerly seeking information, and they will gladly pay for what they perceive as more valuable, reliable content-because they paid for it!

One huge advantage a paid membership site has over a free membership site is that the money is paid to the owner up-front and doesn’t depend on sales or advertising income after a person joins the site.

Paid membership sites that sell memberships to access information based products have a huge advantage over those that promote physical goods. Unlike hard goods, information based products require no storage, no warehousing and no handling. There are no shipping charges to worry about, and it costs nothing to store such products.

In addition, once those products have been created, they can be sold over and over again and sold to many different members. All that the Internet entrepreneur needs to do is market those products effectively.

4.3 The Cons

Unfortunately, every human endeavor that has an upside always has a downside. That is just one of the hard cold facts of life and paid membership sites are no exception to the rule. There are some disadvantages of having a paid membership website...not many...but there are some disadvantages.

The biggest disadvantage of a paid membership site is the continuing problem of content for the website. When members subscribe to a website and pay money to access information, they expect that information to be very valuable and even exclusive. It can’t be information they could get by simply typing in a few words to their favorite search engine and getting a zillion hits. Writing original, relevant and timely information pertaining to whatever the theme of your paid membership website is can require a massive amount of time. Audio or audio/video content can require even more time... not to mention expense.

But content is the key to membership renewals. If you don’t invest the time required to keep your content up-to-date and relevant, you will not get the renewals that you need to keep getting that regular income.

Another disadvantage of a paid membership website is that the message boards, forums and blogs that are associated with a paid membership site must be monitored carefully and updated regularly.

People who pay for a membership to a website expect to get what they are paying for...actually they usually expect to get more than what they are paying for. It is imperative that the owner of a paid membership website schedule chats with experts in the field that is the theme of the website on a regular basis and that the owner of the website be available to answer questions at certain times of everyday.

The bottom line is the biggest disadvantage of a paid membership website is that the owner of such a site must be willing to invest a lot of time.

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