How Could Your Hobby be the Key to Financial Success?
Virtually everyone has the knowledge they need to make a
fortune. Everyone has an interest, hobby or has knowledge about a
particular subject. It could be anything, and I really mean
anything! From gardening to model planes, childcare, from dog
training to sports, everyone has knowledge that someone else
wants. The problem is that most people have no idea how much
their knowledge is worth because information online is worth much
The internet has become a force to be reckoned with. This
monster of mass consumerism is ever increasing and does not seem
to be slowing down. U.S. consumers spent $748 million on online
content (information) during the first half of 2003, representing
a 23 per cent increase over the same period in 2002. With the
rate that the internet is growing, just imagine what the figures
look like today.
Last year, Jupiter Research forecast that paid-content web
revenues will grow four-fold by 2006, from $1.4 billion to $5.8
billion. The crazy thing is - many people are only just waking up
to this reality. Gone are the days when all websites offer their
data free of charge, now the hottest information is reserved for
those who pay!
So if you have a hobby or interest you are the perfect
candidate and I have two words for you - subscription
So what exactly is a subscription website? Well, it is a site
that charges members a fee to enter the site and view the
specialist content. And what do they all have in common? They are
bringing in a steady, recurring cash flow for their owners, month
after month, from a few hundred to tens of thousands of dollars
with an endless array of topics. Having a successful paid
membership site is one of the best ways to make money online. A
thriving subscription site can give you the steady income of a
chief executive ?. but without the work or stress levels!
For example if you had just 200 people paying you just $20 a
month, you would have a steady cash flow of $4000 / month, month
after month, rain or shine. Many people achieve this in the first
month or two that their site is up and running. However, that's
just the tip of the iceberg. Many people have member only
websites that produce 5 -10 times that amount of money! Choose
the right topic and this could happen in your first 2-3 months.
Let's be honest; a steady cash flow is the key to financial
security which is why the website is so superior to any other
form of online product; it can mean a regular monthly income and
best of all, no 9 to 5!
A subscription website is a combination of doing what you
enjoy and sharing that knowledge with those who will truly
appreciate it. The best subscription websites are run by those
who have a passion for the subject matter they are supplying.
This is the most critical decision you'll have to make. Choose
the right topic and you'll have people rushing to give you money
to enter your site, you will have no problem up-dating the site
with new information, and in turn the site will remain fresh and
Find a topic that you are passionate about, and the odds are
that enough other people are also passionate about the topic to
make it a successful membership site. Since you are going to be
spending time and effort building and maintaining your membership
site, doesn't it make sense to choose a topic that you enjoy?
But why would people want to pay for information when you can
find pretty much anything at all on the net without any cost at
all? It's simple, the search for the info you require can be long
and tedious. People are really paying for convenience, they want
up to date information and they want it now. They also want the
information to be comprehensive and original, they want to know
that they can come to the site and that a particular topic will
be covered thoroughly, they will genuinely learn more about the
topic they have an interest in. So why haven't more sites jumped
onto the paid-content bandwagon? A big reason has been the
popular misconception that consumers won't pay for content on the
web. And where did this erroneous concept originate? From badly
conducted research studies done by marketers and the media in
recent years. Practically all of these surveys asked people who
currently receive information and services on the web for free if
they would pay for these services. Naturally, they gave the same
response that anyone with any sense would give, which is: "I
don't want to pay for something that I currently get for free."
What a surprise!
The market is ripe and ready for those who catch on to this
Exceptionally high perceived value is the ultimate key. The
paid online content offered must be so useful that users will be
thrilled to gain access to it, will say "Wow!" when they do, and
will experience instant value for money the very first time that
they use it.
The best part is still to come! A subscription website can be
run from home and once set up it pretty much runs itself.
Software is available to run almost every element of your site
automatically and membership software programs can reduce your
workload by 75% - that can only be good news!
This funnel shows how the reader goes from browsing free
content to being a paid subscriber. When a prospect enters a
website's funnel of free content, they discover that to reach the
most valuable content, they must cross the barrier to becoming a
The process works so well because the customer has already
become involved in the process of narrowing down the information
that he wants, selecting something that's progressively closer to
his desired information until, just before it's in his grasp, he
discovers that -of course- he has to become a paid member.
Topic ideas for a Subscription Website:
Newsletter Topics. If you already publish a successful
newsletter, you are most likely a perfect candidate for a
Membership Website. Placing your newsletter content, archives,
and resources online in a 'subscribers only' website usually
enhances the perceived value of your print newsletter to both
current and potential subscribers.
Career Advancement. Perhaps the most frequent topic for
successful subscription websites is career development. This
includes sites that provide advice, tips, how-to's, resource
libraries, etc., about specific business skills or professions
such as management, marketing, business start-up, financial
services opening up a huge range of business opportunities.
Successful career advancement sites usually focus on a very
specific niche topics related to earning a living or bettering
one's career or business skills.
Personality based insider tips. A number of successful
subscription websites are built around a well-known or respected
person who provides subscribers with personal insights, tips,
advice, information and opinions. In most cases, the person
behind these sites has built a firm reputation and developed a
following of people wanting access to the information this expert
Downloadable Product Library. One of the more interesting
subscription website models is based entirely on providing
subscribers with a large library of downloadable products,
usually computer programs, scripts, PDF files, audios, videos,
tutorials or other materials that can be delivered digitally.
Hobbies / Leisure Activities or Collectors Sites.
Concentrating on a particular and specific hobby or interest can
be an excellent way to tap into a niche market. For example if
your area of expertise is Carp Fishing this would be an excellent
idea for a membership site, because it is a targeted market
subject that will attract people with that specific interest,
whereas the subject of fishing would be a massive area of
expertise to cover in detail.
These are just a few ideas, truthfully, the possibilities are
For more information go to: www.wiseman-phoenix.com.
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