This recap is the penultimate in my recap series on the Platform Conference held in February in Franklin, TN. In this 9th installment I cover the presentation delivered by Stu McLaren, co-founder of WishList Member, the most popular WordPress membership site platform, and a self-described tech entrepreneur. Stu, together with the next (and last) speaker, Pat Flynn, spoke on techniques to monetize the platform that you have created if you have followed the advice of the earlier speakers. The key in all this, though, is not to generate revenue for revenue sake. Instead it is about generating revenue to maximise the impact you have on your tribe. The mantra – “multiply your profits, multiply your impact.” For Stu, he gives back through World Teacher Aid. Read on to see his outline for ways you could develop your platform into a membership site.
The focus of Stu’s talk was on the creation of a monthly (or similar) form of recurring subscription model for your internet outpost. Obviously content is king. You have to have something that others want to pay for before this even matters. However, before you get to that point, it is good to know the concepts so that you build content intentionally that supports the eventual monetization of your website or blog.