Issue #49 - February 24th, 2026
Written by Michael Gillespie
In this issue:
Perspective: Most memberships are still structured like audiences: dependent on performance, energy, and momentum.
Insight: Institutions are built differently. They rely on structure, rhythm, and trust rather than constant output - a silent advantage
Outlook: In a maturing membership economy, durability will outperform visibility - in any season
QUOTE OF THE WEEK
“An audience gathers around attention. An institution stands on structure.”
I have a question for you…
Are you building an audience…or an institution?
At first glance, the two can look similar. Both have members. Both generate revenue. Both require communication and care.
But underneath the surface, they are built very differently.
An audience depends on performance.
An institution depends on structure.
And in today’s environment - where attention is fragmented, competition is constant, and novelty is abundant - that difference matters more than ever.
Let’s dive in.
PERSPECTIVE
When Memberships Behave Like Audiences
Many memberships begin as audience extensions...
The creator builds attention. The membership monetizes it. The operator continues producing, performing and shipping.
And as long as energy is high and output is strong, that system works.
But here’s the quiet risk that becomes clear after years of doing this:
If the membership depends on you constantly performing - constantly launching, constantly energizing, constantly creating momentum…it behaves more like an audience than an institution.
That means:
engagement fluctuates with your output
growth depends on your visibility
stability requires constant motion
There’s nothing inherently wrong with that model. It’s how many successful memberships start.
But, it’s fragile.
You see, when life happens, the system strains. I’m willing to bet you’ve certainly felt that strain before. It’s real.
This type of fragility becomes extremely obvious in a mature market like we have now.
INSIGHT
Institutions Are Built on Design, Not Performance
Institutions are different.
They don’t rely on constant performance. They rely on clear structure and predictable rhythm.
If you want to test whether you’re building an audience or an institution, here are the practical lenses you can apply when looking at your program:
1. Does your membership have a defined operating rhythm?
Not just content releases - but a cadence members can count on.
Action: Write down your core rhythm in one sentence. If you can’t articulate it clearly, members can’t internalize it.
Institutions are predictable in the best way.
2. Would the membership still function if you stepped back 30%?
Not disappear - just reduced your visible energy.
Action: List what would break immediately if you were less present for 60 days.
That list reveals where you’re still the engine instead of the architect.
Institutions are designed to hold.
3. Is your value embedded in systems or personality?
Personality builds audiences. But systems build institutions.
Action: Identify which elements of your membership are repeatable and documented - onboarding flows, member journeys, communication cadence, feedback loops.
If most value lives in spontaneity, durability will be limited.
4. Are members aligned to each other, or only to you?
Audience members connect to a figure. Institution members connect to a shared standard.
Action: Examine your community. Do members reference shared principles and norms - or primarily you?
Institutions decentralize authority over time.
5. Is growth the goal, or continuity?
This one is subtle. Audience models chase expansion. Institutional models protect continuity first.
Action: Look at your last three major decisions. Were they made to increase visibility - or to strengthen the core?
That pattern tells you what you’re really building.
None of this requires becoming corporate or impersonal. In fact, the strongest institutions are deeply human.
They just don’t depend on constant input to perform.
OUTLOOK
The Membership Economy Has Matured
The easy-growth era made audience-building look like the ultimate skill.
But as the landscape matures, durability becomes the differentiator.
Operators who build institutions:
weather slower acquisition cycles
handle market shifts calmly
retain members longer
and operate with less volatility
None of this happens accidentally.
It happens when the operator makes a shift from being the constant performer to being the designer of a system that holds people well.
This isn’t about ego. It’s about longevity.
So here’s the question worth sitting with this week:
If you stopped performing tomorrow, would your membership still stand?
That answer may tell you exactly what kind of business you’re actually building.
