Top 4 Questions You Need to Ask Before Starting Your Membership Site

Creating a membership site is not for the faint of heart. While there are many benefits to having a membership site and anyone can create one, you have to know whether or not you have the ability to follow through if you want to be successful. However, if you are willing to put in the time, a membership site can provide you with the opportunity to create a unique, useful community that will generate a recurring income. Before you start a membership site, here are some of the top things you need to consider. 

Who is Your Target Market and Does That Market Exist?

This is the most critical question that you can ask yourself. Why? Because if there is no market for your product, then the rest doesnÕt matter. Keep in mind, however, that it doesn't have to be a broad audience. Creating a super-niche site that solves an incredibly specific problem can end up being more successful than if you were to choose a topic that is too broad. 

Does This Site Already Exist?

While it doesnÕt really matter if a site already exists, whatÕs important is that you are aware of the answer to this question. If you find that other sites like yours do exist, it merely means that there is a market for the information. What you need to figure out is how you will differentiate yourself from the competition.

How Much Time Do You Have to Devote to the Site Each Week?

A membership site is going to take a lot more time than a simple eBook. There are a ton of aspects that go into the development of a membership site, but the management on the backend is time-consuming as well. Between creating content, marketing, maintenance, etc., you need to have at least ten hours a week to devote to your site.  

Will it Be a Recurring Payment or One Time Fee?

This is a lot more relevant than you might know because it drives the entire content creation process of your membership site. If you choose to do a recurring fee, you must continue to provide new, relevant content on an on-going basis. If you don't do this, your retention rates will start to plummet, along with your profits. With a one-time fee, you can charge more, but your program will have to be well defined. 

While there are plenty of other things that you need to consider when starting a membership site, these are the top four questions that you will need to ask yourself to get started.