As I ask in the introduction to Free Time: What revenue streams are in that oh-so-sweet-spot of profit, ease, and joy in your business? Recurring revenue is one of the holy grails within a sustainable, scalable business. It’s an area that I have focused intently on since 2015, so in a follow-up episode 112: My 3 Biggest Business Regrets, today I’m sharing more about the recurring income streams in my business.
The primary recurring streams of income in my business are (in order of size):
Some of these are more passive than others, but together they combine to create a diversified business model that supports both Fortune 5 clients and “Fortune Five Million” as the basecamp founders would say :)
🌟3 Key Takeaways:
📝Permission: To renegotiate how you invoice clients, shifting from one-off project-based billing to recurring retainer-based billing. You might be surprised at how much easier this makes things for your clients too, by reducing decision-fatigue and scheduling complications!
✅Do (or Delegate) This Next: Reevaluate one of the revenue streams in your business: How could you “productize” a service, making a one-off or ad-hoc stream more predictable by shiting it toward a subscription model?
📘Books Mentioned:
🔗Resources Mentioned:
🎧Related Podcast Episodes:
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