In Episode #173, Nathan speaks with Jason Coleman, founder and lead developer of Paid Memberships Pro. Listen as Nathan and Jason talk about his e-commerce membership plug-in and the numbers for his business.
- Favorite Book?— The Singularity is Near – by Ray Kurzweil
- What CEO do you follow?— Bryan Johnson
- What is your favorite online tool?— Slack
- Do you get 8 hours of sleep?— Sometimes.
- If you could let your 20 year old self know one thing, what would it be?—Focus on one thing at a time and fail fast.
Time Stamped Show Notes:
- 01:00 – Nathan’s introduction to today’s show
- 01:32 – Jason joins the show.
- 02:09 – Paid Memberships Pro is an e-commerce membership plug-in for WordPress.
- 02:31 – Jason’s business has about 3-5K paying customers.
- 03:15 – The membership for the service is 200$ a year for premium service. They project about 360K+ in revenue for 2016.
- 04:25 – Because of the kind of service that Paid Membership Pro provides, churn rate is difficult to measure.
- 06:08 – The business has a few contractors but not many employees.
- 06:54 – About 40K sites use the service and 4K are paying customers.
- 08:05 – Jason doesn’t do paid acquisition – the business’s biggest expense is the developers working on the service.
- 08:26 – They make about 10-20K a month. Jason and his wife take in about 15K a month from it.
- 09:12 – Paid Membership Pros’ competitors include Restrict Content Pro and Easy Digital Downloads.
- 10:27 – Jason beatboxes.
- 11:32 – Famous Five
3 Key Points:
- Despite expecting to rake in 360K+ in 2016, Jason’s business doesn’t rely on paid acquisition or a sizeable number of employees. Paid Memberships Pro is quite independent.
- Because of the type of service they provide, Paid Memberships Pro has a hard-to-measure churn rate. (Churn is dependent of the type of service or product being sold.)
- Without many employees or expenses to run his business, Jason and his wife bring in almost all of the revenue from the business as profit.
- Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for. Here isNathan’s Edgar Content Calendar
- Paid Memberships Pro – Jason’s WordPress business
- Biography – Jason’s personal description on his website
- The Singularity is Near – Jason’s favorite business book
- Slack – Jason’s favorite online tool
- Bryan Johnson – CEO Jason follows
Jason Coleman is the founder and lead developer of Paid Memberships Pro. The membership plug-in for WordPress that over 40,000 entrepreneurs and organizations use to get paid.
Show Notes provided by Mallard Creatives