How to Passive, recurring income is likeâ¦the golden holy grail of running an agency. Let me break down how you can actually, realistically do this AND show you the plan I used to create a business that supports my life and goals. So first I think itâs important to understand how most agencies (indeed, most businesses) work and WHY weâre so drawn to passive, recurring income. Note: in 99% of cases Iâve found that most people donât HATE their work. And most people donât want passive recurring income because they hate their job/work. Itâs often for something completely different. So my first agency ran like most other agencies. Iâd tell people I can help with their marketing, websites, social media and SEO. I did anything and everything to get clients. Iâd find a client, tell them what they needed and guess an amount to charge them. Letâs sayâ¦Â£4000 for a website and some social media. Iâd get a deposit and charge them at each stage. At the end of the project, Iâd have to run around finding a new client. So if we want to move to passive recurring revenue, we need to change a couple of our approaches. - We need income that stacks and grows over time - We need something that can be sold without adding to our workload There are so many options for creating passive income thatâs also recurring, but in my opinion, people ask the wrong question. Usually, they ask âWhat should I sell?â Like, is it better to sell courses, or memberships, or books or infoproducts and thatâs asking the wrong question. Thereâs no question that there are some products that work better than others, and Iâll get to that in a minute. When I was running my agency, I knew I wanted to help people do two things. - Increase their income while reducing workload - Increase their sales While both of those might sound the same, what I found is that anyone can increase their sales but theyâll often find that their workload also increases as they make more sales. So we want to increase sales AND increase income while reducing their workload. The way I did it was through hiring people, selling products and creating content that I could sell. And I knew that ALL of this required an audience. So I created a Facebook group, wrote blog posts, filmed YouTube videos and slowly but surely built an audience of people with a problem I could solve. Those two problems being: - They want to make more money - They want to work less In my content I talked about those problems and how to solve them. Hiring, creating products, affiliate income etc. I talked about the problems of working too much and not having any downtime. I talked about the problem of low value clients and how you never seem to have any spare time. I talked over and over about THEM and their problems. And then I released one small course about selling digital products. So now, I was making money at scale from the audience that I had built. I knew it would sell because: - I used the exact same language, problems and headlines that I had used from my most popular blog posts/videos - I pre sold my course to early bird customers for a discount to basically fund the production of the course. I used this same model to write books, create products, sell info products and courses, templates, and eventually software. And recurring passive income is when things REALLY start to take off. Finding software that charges a recurring monthly fee AND gives a % of each payment to me, the affiliate seller, was a game changer. It meant that I could focus 100% on finding customers and selling, rather than worrying about delivery. But I made sure that the products all solved similar problems that my audience had. I do have some products that sell without any work, such as my books and courses. But of course they required work upfront to create. And now, all I do is focus on creating content to attract new audience. That audience is shown the products I have and the cycle continues. Now, weâre on about $10,000 a month of totally passive income. I do however have to keep creating content and working with my team a little. But in theory, if I took a year off, my income would only GROW (which is pretty amazing). Iâm not telling this to brag, but to explain just how long it takes. With regular daily commitments to building the foundations, eventually the money side just kind ofâ¦took off without me. And of course that passive income doesnât include consulting fees, paid events etc. Hit reply if this sounds like something youâre interested in, Iâd be happy to share more. P.S. Hereâs some more ways I can help your funnel business grow. 1. Claim your 30 day free trial of the most powerful marketing, sales and content platform on the planet PLUS get my training, funnels and automations [included here](. 2. Buy the book [Sell Futures, Not Features](. It'll help you turn your products and services into compelling âmust buyâ items 3. Subscribe to the [YouTube channel]( 4. Watch our free training on [how to do $10,000 a month]( in recurring revenue selling funnel and agency services Copyright © 2024 Sell Your Service, All rights reserved. Our mailing address is:
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