SPI 619: How to Create a Community that Becomes Your Business

The Smart Passive Income Online Business and Blogging Podcast

Pat Flynn

Business, Emailmarketing, Entrepreneurship, Videomarketing, Podcasting, Affiliatemarketing

4.8 • 3.8K Ratings

🗓️ 12 October 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

#619 It might surprise you that the highest-earning online communities are actually very small. Almost all of them have fewer than three hundred members. Many of them have fewer than one hundred members! In this episode, we dive deep into what it takes to build a thriving digital community with Andrew Guttormsen. He co-founded Circle, which now hosts over seven thousand memberships! Andy has access to trends and analytics that you just couldn’t get from anywhere else. In fact, the teams at SPI and Circle are coming together for an all-day online summit on October 25th to share these insights with you. The Business of Community Summit is completely free and will give you the step-by-step direction you need to start or grow a membership. So how do you set up a community business? How do you attract new members and keep them coming back? How do you run a community and build a sustainable team around it? Find out today! Show notes and more at SmartPassiveIncome.com/session619.

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Transcript

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0:00.0	Something that I found very surprising was that even the absolute best
0:03.5	communities on Circle that are earning the most, they're very small.
0:07.0	Almost all of them are under 300 members and many of them are less than 100
0:10.6	members. They are often not just these big kind of expansive communities where
0:16.6	a whole lot of stuff is happening. They're actually these very targeted,
0:20.8	specific communities meant to deliver really like two things they do well.
0:26.0	It's easier to go after the right customer. It's easier to deliver on the promise
0:29.2	that you're making because you make a promise on the sales page. You have to deliver
0:32.6	on that promise.
0:35.1	Hey, that was Andy co-founder of Circle. We've had him on the show before to talk
0:38.5	about community because community haven't noticed yet has become basically the
0:43.8	center of our business. A huge change over the years for us. Community from the
0:48.7	SPI Pro community, which is more the advanced audience and the now recently
0:53.5	launched SPI learner community, which is for the beginners. These are two
0:56.7	communities that are hosted on Circle that have become essentially our business
1:01.2	now and revenue models and business and numbers and things like that are an
1:05.4	important part of making these kinds of decisions as well as obviously the
1:09.7	main component being able to bring the community together and to support
1:13.1	each other. We have a lot to say about community. I want to bring Andy on to
1:17.7	talk about something incredibly insightful about the data that he has
1:21.6	access to with Circle now hosting over 7,000 communities on the platform. We
1:26.0	talk about a lot of different examples and things that you can pull inspiration
	...

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