Want to make big money with a subscription service? Figure out your personal business model first
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[This article](https://medium.com/how-gipi-learn/%E8%A8%82%E9%96%B1%E6%9C%8D%E5%8B%99%E5%B0%8D%E7%9F%A5%E8%AD%98%E5%B7%A5 %E4%BD%9C%E8%80%85%E7%9A%84%E5%83%B9%E5%80%BC-650985f3e5b5) Author [You Shufan] (https://www.facebook.com/gipi.net), currently [Exploring the Force] (h The co-founder of ttps://exploreforceblog.com/) launched “[24 Key Lessons for Career Jump](https://pressplay.cc/project/about/%E8%81%B7%E” on the PressPlay platform 6%B6%AF%E8%BA%8D%E5%8D%87%E7%9A%84%E9%97%9C%E9%8D%B524%E5%A0%82%E8%AA%B2/89D1794DE0A4E6149ECCCC6DCD8C696F5)” subscription service. Thank you for authorizing the “Content Hacker” website to reprint it. Thank you hereby.
[Why are we reprinting this article] Do you feel envious when you see others making a lot of money through subscription services? Not everyone can get a million-level monthly income from subscription services, and the price to pay is not small! How do you position your own subscription services? Which personal business model should you adopt? Teacher You Shufan has an incisive analysis and shares it with you. Please think carefully.
In today’s era of knowledge economy, as a knowledge worker, how should you view the value that subscription service brings to you?
Three personal business models
Are subscription services a good way to make money?
The author knows that some people have seen [Laowang](https://pressplay.cc/project/about/%E3%80%90%E8%80%81%E7%8E%8B%E6%84%9B%E8%AA%AA%E7%AC%91%E3%80%91-+%E7%82%BA%E6%82%A8%E6%B4 %9E%E6%82%89%E5%85%A8%E7%90%83%E8%B2%A1%E7%B6%93%E8%88%87%E6%8E%8C%E6 %8F%A1%E5%8F%B0%E8%82%A1%E4%B8%BB%E6%B5%81%EF%BC%81/E7DD815ED13978074 32214C22B11CD67) The monthly subscription amount exceeded one million, [ADI](https://pressplay.cc/project/about/%E9%98%BF%E6%BB%B4%E8%8B%B1%E6%96%87%EF%BC%9A%E7%AB%8B%E5%BF%97%E8%AE%93 %E6%9B%B4%E5%A4%9A%E4%BA%BA%E9%96%8B%E5%BF%83%E5%AD%B8%E8%8B%B1%E6%96 %87/38DA35A5AF0B25DE07D1A192854639B3) If the monthly subscription amount exceeds 500,000, it seems that the subscription service is very profitable. In fact, this is a myth. Lao Wang aside, Adi once revealed their operating costs. Subscription service is not a very effective way to make money for many knowledge workers. If you don’t get the pricing right (https://www.hbrtaiwan.com/article_topic_%E8%A8%82%E5%83%B9.html) and rush into it without carefully thinking about your time efficiency, the end result will be that the revenue numbers look good on the surface, but in fact the profits are very poor.
Li Xiaolai once mentioned in The Road to Financial Freedom that personal business models can be divided into three major categories:
One piece of time is sold once. If you spend one hour, you will earn one hour of money, such as teaching.
Sell one piece of time multiple times, it still takes one hour, but you can make money multiple times, such as online courses, publishing books, etc.
Buying other people’s time and then selling it, that is, you pay others to do it, and the time is spent on other people’s time, not your own. From the perspective of time efficiency, what you are thinking about is the actual output of your investment in buying other people’s time.
If you choose the first method and sell one share of time once, then time is your limit. Even the most powerful lecturer can only appear in one place and teach one course at the same time. The highest unit price of time is the hourly fee for lectures, which ranges from approximately 3,000 to 6,000 yuan per hour.
If you adopt the second method, you may choose to go to Hahow or Udemy to record online courses. It took about 40 hours to prepare the teaching materials, and 6 hours a day to record, which may take 50 to 60 hours in total. But once the course is launched, the initial sales amount may exceed 100,000 yuan. As time goes by, there may be 5 to 10 orders coming in every week. If it can help you accumulate revenue of about 300,000 in a year. After deducting the platform commission, there may still be about 200,000. With this level of income, the unit output value may have exceeded the original lecture hourly fee.
If you choose the third method, you can spend 3,000 yuan to hire a lecturer to help teach a course worth 4,000 yuan an hour. Many tutors or course offering units have strong enrollment capabilities, but self-employed teachers do not have such ability. At this time, the course offering unit can buy your time at a relatively low price and then sell it. This is a common method.
Of course, the third model has a wide range of applications. The boss buys your time and asks you to help him make money. This is the same type of application. You go to class and use money to buy knowledge and experience that you don’t have. In short, the third model is the most typical [rich people’s thinking] (https://www.managertoday.com.tw/books/view/53690).
Back to the topic of this part. Would a subscription service be a good money-making channel? I think it depends on the value of everyone’s time. Nowadays, most people who have the ability to do subscription services do not have cheap time. A large number of people choose not to do it because it is not economically beneficial to them.
But there is another group of people who choose to jump because they see potential business opportunities in this area. But for the time being, they can only continue to operate in the first method mentioned above, relying on selling their own time to create subscription income.
Some people do it very tiringly, and some people do it very easily; some people leverage don’t know the second method, and some people are like a duck in water in the subscription service. In fact, when you look at subscription service from another angle, you may be able to look at it from another perspective. Let’s continue to talk to you about the author’s thoughts.
The true value of subscription services
Subscription services are more than just a channel
Many people have asked me these days: “Is it possible to do subscription services? Is it profitable?”
Frankly speaking, I cannot answer this question directly. Instead, I hope that the other party will think about what he wants to do with the subscription service. If you want to make money, then you have to say frankly that you should have a more effective way to make money.
In addition, some people also asked the author: “Will it take a lot of time and be exhausted but not make much money?”
The author’s answer is consistent: “If you want to spend very little time, but hope that someone will continue to subscribe, then I suggest you don’t consider it. Because those who will continue to subscribe are important supporters. They all want to learn more from you, but you only think about how to stop spending more time on them.”
For you, a subscription service may be just one of many ways to generate income. But the author hopes that all knowledge workers can think carefully about this question: “Is there any method that can allow a group of people to continue to pay you?”
If you rely on offline teaching to earn income, how long will it take for the same people to pay you again? If you rely on fan groups to manage fans, although you can do high-frequency [interaction] (https://www.contenthacker.today/2017/11/kannasaaan-instagram-content-marketing.html), how much do they pay you every month?
Those who often respond to posts, repost posts, and interact with you for a long time can be said to be die-hard fans, while those who are willing to pay to take classes can be called customers. What about those people who are willing to interact with you for a long time and are willing to continue to spend money on you? It is not an exaggeration to say they are die-hard fans. For such a group of die-hard fans, you should spend more time with them. Because they will spread word of mouth and form word-of-mouth, they may also spontaneously form informal organizations. If you can allow such an organization to operate well, it will create long-term value for you and your subscribers.
So please think about it, if you operate the subscription service as a private membership service mechanism, how should you look at it?
As a knowledge worker, if you want to escape the problem of unstable financial income, you need to find customers who can pay for the long term. If you want to get rid of the dilemma of having to sell time at a low price in order to make money, then you need to find something with a higher price per time unit. If you want to achieve freedom of wealth and time, then you have to find a way to sustain leveraged income instead of continuing to use the current method.
List several personal accumulated data for your reference. The author’s subscription service currently has about 84 people subscribing to the 199/499 plan, and the monthly contribution is about 35,000 yuan. About 43 people who subscribe to the 1,999/4,999 plan contribute about 100,000 yuan per month, and the goal is to double this number.
The topics to be taught and the class time are all decided by the author. There is no need to chase after Guan Hui to ask for classes, and there is no need to worry about the enrollment of his own open classes. It only takes 4 hours of fixed online teaching and 10 hours of offline teaching per month, plus some time for guidance and administrative work. Are you satisfied with this kind of freedom and efficiency?
What you have to do is to teach the class well and teach the students well so that everyone can really gain something. If it really changes, I think it will be enough. Of course, this is very applicable to friends such as lecturers, Internet celebrities and opinion leaders, but the key point I want to emphasize is that when you really create the value of something, and there is a group of people willing to pay for this value in the long term, then you have the opportunity to gradually enter the second and third models mentioned by [Li Xiaolai] (https://book.douban.com/review/8780638/).
Sharing actual operating status
Current status of 24 key lessons for career advancement
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Since February this year (2018), the author has held many online and offline courses; online I teach knowledge, and offline I mainly lead people to practice. In March, the author led the students to complete their respective annual plans and provided correction suggestions one by one. The author hopes that students can seriously think about what they want? What can be done? What should be done? How to do it? When everyone has imagination about their goals and a clear plan, they will be more motivated to do things.
It is relatively easy to transfer knowledge, but it is difficult to learn it within one year and actually apply it in life. We cannot use this as an excuse, so I use force to force students to hand over their homework and start taking action. Every month we go back and review our progress. If you don’t make any changes or try anything, the lesson will be in vain. But when you start taking action, it means that your thinking has changed, and I feel relatively at ease.
Therefore, once you subscribe to “[24 Key Lessons for Career Jump](https://pressplay.cc/project/about/%E8%81%B7%E6%B6%AF%E8%BA%8D%E5%8D%87%E7% 9A%84%E9%97%9C%E9%8D%B524%E5%A0%82%E8%AA%B2/89D1794DE0A4E6149ECCC6DCD8C696F5)》, the author is responsible for the students, and you should also be responsible for yourself. This road will keep going. If you want your 2018 to be different, come and learn together. The author will encourage you to make good progress. Hurry up and [subscribe](https://pressplay.cc/project/about/%E8%81%B7%E6%B6 %AF%E8%BA%8D%E5%8D%87%E7%9A%84%E9%97%9C%E9%8D%B524%E5%A0%82%E8%AA%B2/89D1794DE0A4E6149ECCCC6DCD8C696F5).
At present, offline courses have been opened in both the north and the south. The northern course currently has about 30 partners who regularly participate; the south has about 8 to 10 partners, and more than 80% of them are supervisors. There is actually a lot of content that can be exchanged. When participating in offline courses, you can not only learn something, but more importantly, you will get to know many students with excellent work ability and vision, discuss and learn from each other, and grow faster.
As for the coaching service? The author is still using the review system, and only 6 people are selected for the time being. If one student withdraws, another one will be added. And if I feel that I really can’t help, or you just want to find someone to chat with, I will ask you to cancel the coaching service and change to the 1,999 yuan plan. Because the author hopes that time can be used to help people in real need; if you just want to chat, you can chat at any time.
Future Development Plan
Next steps for subscription services
Frankly speaking, I have probably already thought about what I will talk about next year and how it will operate. In the first half of this year (2018), the author will continue according to the original plan, with online and offline courses going hand in hand; starting in the second half of the year, the author will find other internal and external partners to share more diverse topics, so that everyone has more diverse learning opportunities.
In addition, the author is also helping partners who are interested in becoming [self-employed] (https://www.contenthacker.today/2018/03/self-employed-vs-employee.html) find a stage so that they can achieve their goals faster. If you want to be a lecturer, I will try my best to help; if you want to be a consultant, please pass my training first; if you want to start your own business, you are welcome to bring your business ideas to chat; if you want to write a blog, then write it quickly and don’t be verbose; if you want to be an e-commerce company, that’s great, we have a lot to discuss!
★ How to increase your visibility and influence through diversified management? Please attend the March special session of Vista Book Club: “[The era of resumption of business is coming] (https://www.accupass.com/event/1803140753116515393830)”
★ How to learn how to make presentations and use presentations for content marketing? Please sign up now for the Content Hacking Lecture Series (CHL6): How to use presentations for content marketing[Registration in progress]
★ How to produce high-quality and attractive content? Don’t miss the online course “[Content Power: The Super Power of Building Brands] (https://hahow.in/cr/content-power)”
★Photo credit:[You Shufan](https://medium.com/how-gipi-learn/%E8%A8%82%E9%96%B1%E6%9C%8D%E5%8B%99%E 5%B0%8D%E7%9F%A5%E8%AD%98%E5%B7%A5%E4%BD%9C%E8%80%85%E7%9A%84%E5%83%B9%E5%80%BC-650985 f3e5b5), [PressPlay](https://pressplay.cc/project/about/%E8%81%B7%E6%B6%AF%E8%BA%8D%E5% 8D%87%E7%9A%84%E9%97%9C%E9%8D%B524%E5%A0%82%E8%AA%B2/89D1794DE0A4E6149ECCCC6DCD8C696F5)
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