STEP 06: Create A Consistent, Predictable Revenue Stream

Objective: Create Your Recurring Product Why A good idea is to make your mid-tier product a recurring subscription-based service. Your recurring product shou...

Why

 

A good idea is to make your mid-tier product a recurring subscription-based service. 

 

Your recurring product should be based on necessity and a done-for-you service to reduce the need to create a new agreement with your company. 

 

The best forms of income are predictable and steady, which affords you the ability to go after more opportunity and grow.

 

What have clients repeatedly come back to you for? What can you package and consistently execute in a few months?

 

What will keep people coming back for more? Make them feel as though they will miss out if they do not upgrade to your recurring service. 

 

Understand your capacity and then determine what volume can produce healthy margins.

 

Make sure you sell this product/service before you sell a one-off transactional relationships. 

 

Example

 

 

Quintessentially Group

 

The Quintessentially Group is the world’s highest rated concierges service. 

 

For an annual membership fee of $1,500, you get 24-hour access to the most exclusive events, experiences, and expert recommendations in the entire world. 

 

It is similar to having a digital assistant in your pocket. 

 

Members  pay a recurring membership fee to keep their access. 

 

The exclusive access and logistics servicing keep their clients coming back every year. 

 

How-To

 

What do your clients always come back to you for?

 

Choose a category:

Membership

Access

Management

Reporting

Recommendations

Reduced Cost

Analytics

Consulting

Maintenance

Content Creation

 

Pick a Price: What would it cost for them to do it themselves or hire someone full-time?

 

Create a List of Beneficial Features: Create a list of ways this will help them make more money or save time?

 

How will you work with clients month-by-month??

 

Business Application

 

Here are some ideas:

White Label Graphic Services

Event Management

Analytics

Consulting

Maintenance

Content Creation

WORKSHEET/RESOURCE

VIEW COURSE MODULES

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