We’re often asked why RICH charges for their events and annual membership when there are so many “FREE” events out there. One investor even showed us his calendar that let him attend several monthly events and eat/drink for free. Yet, he’s not even an active investor!
You see, RICH has been here for 40 years and has seen tons of free events come and go. We discovered long ago, that offering REAL value is worth paying for. We tell everyone to compare our member benefits with any other group in town, heck even the whole state, and then you’ll discover for yourself that there is no better value than our annual membership for real investors. Our members, regularly make money from their membership both in the number and quality of deals they are able to do AND our average member receives about $527 in CASH BACK from our exclusive Home Depot rebate program alone. Go ahead, ask that free Meetup Leader what they are offering for YOU!
Another example is a class I taught recently about AirBNB. The month before folks had asked me to talk to them about my AirBB Hosting experiences and I gladly obliged. It was informal, I picked the time, date and a few people showed up and I rambled on for about an hour. But then I decided to make it a real class. I can tell you I was 200% more prepared, did a ton of more research and delivered a high-quality workshop guaranteed to help them make money. It put pressure on me to deliver and it also put pressure on attendees to show up. There was real value and that is always worth paying for.
I can’t tell you how many times I’ve allowed folks highly discounted or complimentary admission into a workshop. Do you know how frustrating it is to let someone attend an event for free and then they don’t even show up! It’s extremely disappointing and frustrating. I learned that it’s well documented that folks who pay nothing for a FREE event put no value on it. People who are gifted, even a high dollar amount event, do not do as well as those who paid for the class. The reason is simple.
How many college freshmen whose parents paid for everything spend the whole first year partying and not doing as well as they should have? compare that to scholarship students who have to bootstrap their way school. The value each person puts on the opportunity is vastly different. Even charging a nominal fee for an event immediately separates those who are more serious about the topic than those who are just casually interested. Even more, it keeps those who are just there for the free beer and food at home, so the REAL investors can network and learn.
Yes, RICH has seen hundreds of Meetups and other local Clubs attempt to gain traction in the community and seen almost all of them fail. Not because they were free but because the focus of the group was to put money in the leader’s pocket, not the Members! RICH is and always will be about our Members. Our success is your success. If you’re already a Member, thank you for being a part of the largest investor network in the country. And if you’re not a member, I invite you to discover why so many of Houston’s most successful investors started at RICH.