How Recurring Revenue Solved 5 Major Cash Flow Problems in Our Business - Freelance Proposal Help

How Recurring Revenue Solved 5 Major Cash Flow Problems in Our Business

How Recurring Revenue Solved 5 Major Cash Flow Problems in Our Web Agency 

Wednesday, December 13th 2017

No time to watch the quick video?  Then read the text version below



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Read the Text Version

How Recurring Revenue Solved 5 Major Cash Flow Problems in Our Business

By Chris Swemba

I want to talk to you about the the 5 huge problems that recurring revenue has solved for our business.

The reason why I want to do this is because selling our work definitely can be hard and complicated at times. I’m here to make it easier for you to sell more projects at higher fees, so you can have more profit, more freedom and fun in your business. This is definitely what I want for you to have in your business. It’s what I want in my business too.

#1:  We Don’t Have to Start From Zero Every Month.  

The first problem that recurring revenue has solved is, we don’t have to start from zero every month.

We don’t have to go out and get new business to stay in business.

If you like the sound of that, then recurring revenue definitely can help you solve that problem.

#2: We Know What Our Cash Flow Will Be

We don’t have roller-coaster income.  We know what our cash flow is because we have visibility into the future. We know if we can add another team member, or if we need to go deeper into services that we already offer or have the resources to create a new service offering.

We can plan and grow our business a lot better when we have predictable, stable income when we know what our cash flow is going to be. It really enables us to grow a lot faster and in a less risky way.

#3:   We Have More Opportunities to Offer Clients More Solutions Over Time.

Since we are offering recurring services and have a recurring relationship with clients…we’re most likely resolving problems that they may not be handling themselves on a daily basis.

Having that existing relationship in place creates more opportunities for us to sell more products and services to them, which compounds the recurring revenue effect we have and we can sell more to our clients and solve more of their problems.

We can’t do this when we just do one-off projects. We rarely take on projects where there is not a recurring revenue component. That’s really our focus, and it should be yours too.

#4:  Dramatically Lowers the Stress and Cash Flow Worries in Our Business.

Less stress equals more fun, and I think when you are having more fun in your business, you are enjoying your business more, you are able to do more effective work for your clients. Nobody likes stress. I know a couple of people that do, but I certainly don’t and if you don’t like stress either, and you want to have more fun in your business, recurring revenue definitely reduces the stress and cash flow worries.

#5:  Sell Once & Get Paid Over and Over Again

Winning new clients is difficult at times.  Instead of going out and reselling, selling, and selling again just to keep the lights on and to stay in business, I would prefer to sell a service or a client one time and continue to get paid over and over, year after year. That’s definitely what I am interested in. I hope you like the sound of that as well.

More Benefits of Recurring Revenue

Less stress. The ability to plan better which gives us better visibility on how to grow our business in the future which removes a lot of the risk. We get better long term results for our clients. When we have a recurring relationship with them we can see other opportunities and problems in their business that we can help solve, and add more recurring services to the relationship. We get more freedom and more fun, and more profit. Recurring services definitely enables you to do that very quickly.

Recurring Services That You Can offer Clients

You may be offering recurring services already, and that’s great; I would encourage you to really focus on more recurring services or focus on the recurring services that you are offering and go deeper with them, and see how you can open the scope of those services to add more value to your clients, so you can pull more profit out of those existing services that you are already offering.

Meet with your team, really focus on how you can find other recurring service opportunities within the clients businesses. I promise you that they are there. If you look for them you will find them.

Here are some examples: SEO, Email Marketing, Hosting, Website Support Plans, Consulting, Reputation Management, Social Media, Copy-writing, Programming, Graphic Design, Paid Ads, Management.

There are so many opportunities in the digital marketing space you can solve in your client’s business that can bring recurring revenue to your firm, and recurring revenue to your clients.

Like I said, get creative. Look at your client’s business, and really go into the relationship focused on recurring revenue. Because clients have recurring problems, and you should really be focused on solving those problems on a recurring basis and get paid over and over.

Focus on Recurring Revenue

If you are doing only one-off projects, stop it! You can offer one-off projects for 20% of your business, but 80% of your business should be focused on recurring revenue, and, if you don’t think they exist, I promise you that they do.

Look into your client’s’ business, see the problems that are occurring ongoing, and start talking with them to figure out how to solve those problems. Because, when you get this right, a lot of your cash flow, and your growth problems will disappear.

Don’t take implementing this strategy into your business lightly. Get really focused on recurring revenue for your business, and your client’s business, because it will change your business quickly for the better. You’ll have a lot more fun in your business, you’ll make a lot more money in your business, and it’s just the best way to go.

Now, Complete the 3 Quick Win Action Steps

Action Step 1:  Download the worksheet to implement this strategy into your business.

Action Step 2:  When you successfully implement this strategy,  please share the details of your results with the community in our Facebook Group so we can see how you did it and learn from your success.

Action Step 3:  To get more proven client winning strategies, frameworks, blueprints, trainings & content to win bigger proposals with better clients…subscribe to our VIP members email list  .

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