I’ve heard tell that when moving from Ladybird lifetime memberships were auctioned off to help pay for for the move. Given how hard expansion is hitting the bottom line, why aren’t we doing that again? One would think it’s the same application and by all accounts was successful the first time around.
Not auctioned but sold and capped at 10 people total for $2700 each.
Because we sacrifice long term revenue for short term gains.
I gather that lifetime memberships were terrific administrative burdens to administer and remain an ongoing liability for Infrastructure since the billing system cannot manage them gracefully.
We had a thread going back in the expansion blow-up that dealt with income options. If you didn’t follow then, might be of interest:
https://talk.dallasmakerspace.org/t/expansion-are-we-solving-the-wrong-end-of-the-problem/51852
EDIT: I should have suggested you drop down to about post 50. It took that long for the crowd to start actually proposing options related to the orginal question! DMS, right?
10 people were a bigger % of the membership back then and their rates may have been lower.
Those same 10 people are a drop in a bucket of 2100+ members now.
Y’all rolled the dice well.
Not saying we would get the same rate of growth now with a similarly proportioned gamble.
Just wanted to shift the perspective. You sacrificed a small amount of long term revenue for large long term gains.
And a later BoD made the lifetime memberships non-transferrable. Just as I was talking with someone who never came to the space again. Darn.
No, that isn’t the case. “Lifetime” is a product just like monthly or yearly. WHMCS handles it just fine with no additional input from Infrastructure.
It might be extra work on the Finance team, but I don’t know either way.
My mistake, the specific issue I recall hearing about was add-on accounts for lifetime members.