Curious about how I used lockdown as a chance to jumpstart two major Bucket List items? Dive into my full journey here: Read the full blog

Book 50/52 of My #52Books52Weeks Bucket List Challenge

I included this book because I’m leaning more and more into the membership, subscription, and community business model—one that provides monthly recurring revenue and supports a location-independent lifestyle.

As The Bucket List Guy, I’ve had a Bucket Listers Community before, but I want to do it better this time. That means choosing the right platform, pricing it right, increasing retention, and making it member-led. This book helped me refine my thinking around all of that.

What is the Membership Economy?

Robbie Kellman Baxter defines the Membership Economy as:
✅ A shift from one-time transactions to long-term relationships
✅ A business model that prioritizes retention over acquisition
✅ A way to create recurring revenue while delivering ongoing value

Think of brands like Netflix, Amazon Prime, or Peloton—they don’t just sell products; they create communities and experiences that keep people coming back.

Key Takeaways from The Membership Economy

1️⃣ Transactions vs. Relationships

• Traditional businesses focus on one-time sales.

• The Membership Economy is about building long-term relationships with customers—keeping them engaged and providing continuous value.

2️⃣ Recurring Revenue = Business Stability

• One-off sales can be unpredictable.

• Membership and subscription models create steady, predictable cash flow—making it easier to grow and scale a business.

3️⃣ Retention is More Important Than Acquisition

• Many businesses focus too much on getting new customers and not enough on keeping existing ones happy.

• The real profit is in retention.

4️⃣ Community is Key

• Successful membership models foster a sense of belonging.

• People don’t just pay for content or services—they pay to be part of something bigger.

5️⃣ The Freemium Model Works (If Done Right)

• Many membership businesses offer free content or trials to attract users.

• But you need a clear conversion strategy to turn free users into paying members.

6️⃣ Engagement Drives Loyalty

• People won’t stay in a membership just because they signed up.

• They need to see value and feel engaged consistently—whether through exclusive content, live events, or personalized experiences.

7️⃣ Start Simple, Then Scale

• The best membership models start with a simple core offer and evolve based on feedback.

• Don’t overcomplicate it—launch, test, refine.

How This Relates to Living a Bucket List Life

For me, building a membership-based business isn’t just about making money—it’s about creating a movement.

A well-run membership community gives people ongoing support, accountability, and inspiration—which is exactly what I want for The Bucket Listers Community.

If you’re looking to build a membership, subscription, or community-based business model, I highly recommend this book!

👉 Are you part of a membership that changed your life? Or thinking of starting one yourself? Let me know! 👇

Stay tuned for Book 51 of 52 as I continue this adventure of learning and growth!

#BucketListLife #UltimateChallenge #52Books52Weeks

Are you part of a membership that truly changed your life?

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