Ep 173 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.

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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.

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

Resources Mentioned:

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

Bio

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.

Famous 5

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.

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He plans to be #1 Wordpress Membership Plugin by 2017 with Jason Coleman of Paid Memberships Pro

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