3 Ways To Generate Recurring Revenue In Your Business
Wouldn’t it be great if all your customers paid you regularly, time and time again? Well, businesses that have recurring sales benefit from this process.
Subscription and recurring revenue are hot topics today, and for good reason. Businesses that generate recurring revenue have more value than businesses without, and the coveted Monthly Recurring Revenue (MRR) figure can boost your cash flow and profitability significantly.
Offering ongoing services that generate recurring revenue can add greater depth to your business. This can also unlock additional revenue from each customer. Doing this will help you offer a higher lifetime value for your customers and you’ll ultimately flatten your competition.
There are many examples of recurring revenue businesses. Whether you’re in the realm of consulting services, health and fitness, e-commerce, software, or offline sales, there are ways to fit the subscription component to your business.
Here are 3 ongoing services you can leverage to share your knowledge and generate recurring revenue.
insight into their needs all lead to one thing – the close. 
Starting a business is easy. But running a successful business is an entirely different story. For instance, in the United States alone about 9% of businesses both new and old close every year. The failure rate of new businesses is relatively high, with about 50% failing within the first five years.
You’ve built a solid website for your business. Fantastic! It’s easy to think you have everything under control. An article here and there, a few posts on your social media profiles and your online reputation will take care of itself.
If you’re running a business, it can be a long and difficult road to success. It takes a lot of muscle to build a sustainable company. Having said that, if you start with the right foundation, your journey will be easier.
When you’re trying to grow your business it can put a strain on your finances. Paying for advertising and marketing to gain new customers can be a costly task if you don’t know what you’re doing.
The difference between success and failure online is being able to write sales copy that actually makes people want to buy your products and services.
If you want to increase your online sales, you’re on the right track. Increasing sales is the primary goal of any successful business. However, the quick spike in profitability isn’t the only benefit you’ll get, as growing sales have long term value.
Over 70% of potential customers choose whether to consider buying from a business depending on the information they find online. So, your website is your biggest first-impression maker.
A business is like a car. It must work all the time. To run a successful business that works for you and your customers, it needs to be well-cleaned, well-oiled and finely tuned. Having said that, 
Competition is fierce in the business world, both in terms of sales and efficiency. This is where business process automation comes in handy. If you want to remain competitive, you need to automate or someone else will automate you out of business.
Creating great and valuable content attracts visitors to your website. This, in turn, creates a loyal audience that likes and trusts you. However, what if you never attract the attention of that audience?
Sales funnels are an integral part of any business. They are used to attract interested parties to your products and services and turn them into paying customers. That’s why you should make them an essential part of your marketing plan or business strategy.
Many of society’s most well-known inventions were simply created by mistake. Over the years inventors and scientists have made famous mistakes whilst seeking solutions to problems unrelated to the products they ended up creating.
A customer walks into the store, browses through products and shelves, picks up items, inspects, considers the prices, chooses a product and takes it to the cash register to pay.
Today, we’re conditioned to believe that we should be busier, get more done and work harder. We’ve all heard motivational speakers giving well-meant advice that makes you believe that you aren’t doing enough, and that’s why you aren’t successful.
As an entrepreneur or business owner, you most likely juggle many tasks at once. So, productivity is crucial. However, you may not realize how minor changes can improve your workflow efficiency significantly.
Blogging is an effective way to expand your business, attract more clients, maintain relationships with your current customers and get traffic to your website free. So if you can make your blog work harder, you’ll get better results.