How to Create Recurring Revenues for Your Business
In my course on how to grow your business faster I cover the benefits of having a recurring monthly revenue model. This basically means that your customers are regular repeat customers. If you have ever run a business you are no doubt aware that keeping an existing customer happy is far easier than finding a new one. Generally the toughest businesses to run are those which make a single sale and then kiss the customer good-bye forever.
Having repeat customers greatly increases the value of your company whether you are trying to raise more capital or sell it.
So let’s take a look at five recurring revenue models that should be part of your business model. You are unlikely to be able to cram them all in, but do try to at least integrate two or three.