The Membership Guys

Mark Asquith On Changing Your Core Business Model

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Making the move from working one on one with clients, to running a “one to many” subscription business like a membership can be a daunting transition.

It's one Mark Asquith made several years back, when he called time on his successful digital agency to focus entirely on his SAAS company.

And it's a journey we've taken ourselves with The Membership Guys.

In this episode of The Membership Guys Podcast, we discuss our respective journeys, and Mark shares an inside look into how he made the transition both from a practical sense as well as a mental one.

It's a must-listen episode for anyone looking to make a similar switch in their business.

Episode Summary:

  • How many entrepreneurs create a “lifestyle prison” by following the wrong advice
  • The practicalities of transitioning from agency owner to running a subscription business
  • Key mindset changes you need to make in order to successful grow a community
  • Why it's okay to keep things simple with your membership and not constantly chase the “next level”

Key Quotes:

“I found myself kind of in this lifestyle prison. I'd set this business up, I was getting paid well, I could have lived on that forever. And it was kind of boring. But at the same time, I'd built this really nice lifestyle where I was able to travel and be able to enjoy what I was doing. And I was just like, ‘okay this is nice'. But that was imprisonment. So I was thinking to myself at the same time, ‘Holy crap, how do I get out of this thing without sacrificing the lifestyle?!'”

“You wanna have 50% of your time spent on the couch watching Netflix and playing video games? Awesome! If that's what success means to you. You won the game.”

“It's about knowing when and what people need when they need it. That's about anticipating your customers and really understanding them. People don't buy quantity. You don't walk into a restaurant and say: ‘Give me everything.' You get what you want and what you need at that time. So you need to apply that logic to your membership.”

“You can accelerate your credibility for your membership, for your SAAS product, for your business – just by going out and being a little bit uncomfortable. Doing the things that no one else is willing to.”

More good stuff from Mark Asquith:

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