‎‧₊˚✧ one to many ✧˚₊‧ aiming for zero marginal cost → the cost associated with a new client or customer should be as close to zero as possible. >[!note] speaker can be found at “bookkeeping side hustle” **what is a paid membership community?** any service where a firm earns revenue by selling a service to clients that is delivered in a one-to-many fashion with no (or very little) extra work created even as the number of people grows. kate uses and teaches freshbooks, gives her a good niche opportunity. **what software can we niche a membership into?** ## why paid membership communities work for accounting firms - predictable revenue - lots of options for moments of engagement - first engagement point (top of funnel) - additional upsell to existing clients - possibly a downgrade to keep clients who are struggling with cash flow - deeper client relationships - maintains high frequency of client contact - shows off expertise - high-margins and scalable - though low priced, the cost of delivery is very low - not a lot of additional work created as membership and revenue grow ## real examples ### michelle mitchell | financial empowerment roundtable downsell from done-for-you services: qbo training once per month; quarterly, do a review of what they’ve done in their file. $199 per month. → *so, how does this not create more work? are they reviewing each file?* ### erin two group programs: - calm profit collective → DIY bookkeeping program for $129/month, early-stage business owners setting up bookkeeping for the first time. built in circle. made to walk people through for 12 months. monthly sessions for accountability. work on bookkeeping together and do a hotseat questionnaire. pre-recorded q&a from questions throughout the month. about 20 members. - advisory table → advisory-”light”. available to all full-service bookkeeping clients. they are automatically added to a group program. we send them books by the 15th, then scheduled monthly session with all members. can be in the group with an alias if they want to keep things private. talk about cash flow, hiring, things ppl in businesses of this particular size need to hear. has cfo coaches. about 20 members. lends themselves to what we want the client journey to look like. can come in as calm profit collective, then when ready for one-on-one services, can be in the advisory table. want them in DIY program for a year and “graduate” into next program. end goal is moving into 1-on-1 services. ### kate josephine johnson | freshbooks office hours - free facebook group and zoom. that’s all the tech she uses. - one hour per week – *ish*. two meetings first and third weeks of the month. - uses it to move people through referral sales → software, but wonder if we can bring in some of anne’s networking people into this. - wants 50 members, paying $100 per month; this is $60K per year for about six hours of work per month. ### church finance cohort (!) - trains church finance staff, volunteers, other church profesh - live coaching and Q&A, training videos, private community - facebook, gobrunch, iLearn via ThriveCart - $50 per month ### tax strategy 365 - real estate investors - SKOOL and GHL - $5,000 per year. - live coaching, Q&A, training videos, private community - lol, “drake feature your team” - fills with paying clients and uses it as a down-sell for people who don’t want 1-to-1. ### p&c advisory collective - real estate investors, growing entrepreneurs, etc - live coaching / Q&A, training vids, exclusive content, private community - uses circle - $165 per month or $335 per month gets quarterly calls with staff - **uses this as the opportunity to train staff** ## ideas - sales tax → prep and file together → **mark h. could use this!** - qbo clean-up as a limited-time membership? graduate to 1:1 services. - staff training for restaurants for the team to handle books - something with A/R? invoicing, making sure you get paid, not chasing invoices - audit prep? - financial review and goal-setting - “quarterly financial clean-up club” - kpi check-up club → could focus on a different metric each month. - "book club" happy hour, but it's with your financial books. ### restaurant-specific - menu / pricing review? seasonal “forecasting”… what’s the state of the industry, what to look out for moving into the next season… - peer support group of our restaurant clients and any others. - profit per ingredient or similar? - “start smart” for new restaurant owners → first three-months… // start-up club? ### from other ppl - to get questions / engagement… “stump the teacher” → if they ask a question that stumps you, they get a giftcard. - team up with someone in anne’s network >[!note] if you find yourself saying the same thing over and over, that’s a good place to start.