Membership Geeks Podcast with Mike Morrison 319 - Do Membership Sites REALLY Provide Passive Income? (Revisited)
Can a membership business ever really provide passive income?
Lots of so-called internet marketing gurus out there will point you in the direction of the membership model and claim it’s the “ultimate way to make passive income.”
We’re here to tell you that’s false…sort of. Memberships are not a way to make 100% passive income, but can they make any passive income?
In this episode, we discuss what passive income really is, why memberships can never be 100% passive, and why it’s up to you to decide how passive you want your business to be.
Essential Learning Points:
- Why you should be wary of the term “passive income”
- Why memberships are never 100% passive
- What does passive income really mean?
- Ways a membership can be partially passive
Important Links & Mentions:
Key Quotes:
“An online membership is a business…and every business requires you to work and take it seriously. It's not a gimmick. It's not a cheat. It's not something you do if you're just looking for a quick shortcut to make an easy buck.”
“There's an old adage in the internet marketing world, that internet marketers work 18 hours a day, so they can make money in their sleep. Being able to say, ‘I make money in my sleep,’ so many people like to use that as a badge of honor…And of course, you never see the full story.”
“We've always railed against the tendency of internet marketers to promote memberships as a path to passive income because in doing so that really does sell the lie, that this is an easy route to untold riches for minimal effort.”