As marketers, we’ve been told people will buy what they WANT – but I’m here to tell you, “continuity income” is something you NEED.
This week, the northeast got hammered by Hurricane Sandy. And my town of New Canaan, CT was no exception.
We are already on the 3rd day with no power – and we expect to be “in the dark” for another week or so. But my family is safe (and we have a generator), so I’m not complaining. We are in a much better position that so many others and I’m thankful.
Since I couldn’t get online for a couple of days, it made me take a long hard look at my business.
I did an inventory of my products and programs and realized that a majority have some type of “recurring revenue” built-in (membership sites, software, etc.)
It gave me a sense of calmness knowing that I didn’t have to “sell” anything during the past couple of days (or even over the next coming weeks) to stay afloat.
Of course, there will always be drop-off in a continuity program (yes, no matter how good your program is, people WILL cancel), so you can never take your eye off bringing new people to your business. But the business won’t collapse without a new sale during the few weeks.
GOT CONTINUITY INCOME?
Just about any business can find some way to fit recurring revenue into their model. Here are 3 simple ideas…
$5 NANO CONTINUITY
Selling in a softer “hobby” topic like gardening or knitting? Try offering a $5/month “Nano Continuity” program that features weekly video tutorials. Heck, you can use your mobile phone to record short 3-10 minute videos, upload them, use clickbank or paypal, put them on a password-protected blog page and you’re done!
Are you a life coach? Or do you have specialized knowledge? Create your own premium priced online coaching program. Run live coaching groups through a webinar service like gottowebinar, use a wordpress plugin like Wishlist, and charge anywhere from $20 – $200+ per month depending on the market and positioning. Just 50 clients at $50/month is $2,500 per month!
Perhaps your market always has new information coming out (stocks, social media, etc.). Or, maybe it would make for a sticky community (golf, fan clubs, weight loss, etc.). You can build a membership site. If you want a full-featured membership site, go with something like Wishlist or MemberGate.
But always remember, don’t just throw together crappy content because YOU need a continuity program. Be smart and strategic about it.
Instead of thinking, “what’s the least amount I can do to charge $20/month”.. INSTEAD think, “how can I deliver $500 of value for just $20/month”.
It’s why FounderFly is kicking butt and it’s why the people who take my advice are building rock-solid businesses.
Are you ready for the challenge?
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P.S. If you want the most complete membership site training program to date for just $1, check this out.