Hello ,

So yesterday we started the conversation about recurring revenue.

Today I want to share the five main components of successful recurring revenue opportunity.

Component #1: Market Criteria

This is where you pick your target market, your topic, your slant (USP) and

your brand.

Obviously, this step is KEY.

If you choose a small market without any money to spend...

You’re going to find it difficult to make money yourself.

If you choose a topic that no one is interested in, your program is going to have little to no demand.

And if you don’t set yourself apart with a really good unique selling point and brand...

Then your competitors are going to get paying customers instead of you.

We’ll talk about all of this and more in the next lesson.

But for now...

Let me give you a quick way to gauge interest in a recurring revenue program topic…

Create a sales letter for this proposed topic, and then see how many people take you up on it.

Except when they do click that buy button....

They won’t be taken to a sales page.

Instead they’ll be taken to a lead page that encourages people to sign up to find out when the offer becomes available.

This is a quick and virtually risk-free way to find out if people will buy your offer BEFORE you go and spend a ton of time and/or money creating your program and content!

Another option is to create a month’s worth of content that you sell as a standalone product to test how well the product (the content, format, price point, etc.) converts.

That's exactly what I've done with powerideas when I started it...

Once you have it nailed down, launch a recurring revenue program which delivers ongoing content in a similar offer.

Again, we’ll talk more about “market criteria” in an upcoming lesson.

Next…

Component #2: Model Choice

Your next decision revolves around what type of recurring revenue program to set up.

For example, are you going to set up an ongoing membership site?

A fixed term site?

A mastermind?

Or something else?

For now, think about your audience, the type of content you want to deliver, and your own lifestyle.

This will help you decide the best model for you.

For example, if you currently travel a lot...

Then an ongoing membership site may not be a good fit for you.

That’s because it has ongoing virtual demands which can be difficult when internet access is unpredictable.

Solution?

You might do better with the “set it and forget it” fixed-term model...

Which is a much more hands-free way to run a profitable site.

We’ll discuss these options and more in a later Lesson

Component #3: Metrics Calculation

Making millions in recurring isn’t a lucky accident.

It starts by you figuring out what you’re going to charge per month, and then figuring out how many members you need to get to your target income.

Here’s my recommendation…

Aim for 500 members at N10000 per month.

That’s a reasonable number of customers to acquire and at N10000 per month these customers are expecting quality, but they’re not expecting the sun and the moon.

This is a price point where meeting expectations is very doable and shouldn’t overwhelm you with monthly commitments.

That means this membership site is great for beginner and for the more advanced online marketers!

Component #4: Member Content

Your content is going to be what attracts people to your program, and keeps them as active members for the long term.

That’s why you need to take great care in planning out your content, and that’s why in a future email, I'm going to cover 12 types of deliverables your customers will love!

Now here’s an important tip…

No matter what sort of content you deliver to your members, you need to give your members a big reason to maintain their membership.

Here are some suggestions for doing that:

Research your market so that you’re delivering content that you’re absolutely certain your audience wants

Deliver high-quality content that solves pressing problems.

Always deliver the content on time.

Share tips and strategies your audience can’t find anywhere else, or at least present information in a way that is unique to you.

Share your personal experiences and other niche-relevant stories, which personalizes your program and makes your content more unique.

And finally…

Component #5: Monthly Calendar

Here’s where a lot of people fail:

They build their site fast with a burst of enthusiasm, and then they just sort of sit back and expect it to keep growing magically, all on its own.

It doesn’t work that way.

In order to keep growing your program, you need to take consistent steps every day with an eye on growth.

This includes:

Creating new content for your members.

Doing the marketing to acquire new members.

Supporting your existing members so they’ll stay members.

Here’s the key: don’t try to grow your program in bursts.

Building recurring revenue is a marathon, not a sprint...

You’ll get better results working consistently rather than sporadically.

It’s also essential that you learn to focus on what’s important and avoid busywork.

For example, don’t get bogged down for hours commenting on social media while convincing yourself that you’re “growing your business”.

Instead, set goals, create to-do lists, and stick to your schedule so that you don’t get sidetracked. You want a “balanced attack” that devotes time and effort to all of the important areas of your business.

Be sure to check out Lesson #6, where you’ll learn more about creating a calendar with the aim of growing your program.

Your Turn

What you’ve seen so far is an overview of where this series is going to take you.

Your assignment for this lesson is start thinking about your niche if you haven’t already done so.

That’s because it’s a good idea to already know your niche, since we’re going to hit the ground running tomorrow.

Till then...

Play a bigger game

CTM

PS:

I have spots open for the 97day challenge in January 2022 right now. 

The goal is to help you create, sell and deliver a high ticket transformational program at the $3k, $5k and $10k+ levels and ultimately lay the foundation for bringing $10k a month in revenue.

Think you might like to join us? 

If you'd like to lock in your spot at an early bird rate of N650,000.

Hit reply and let me know. If you reached out yesterday...I'll be in touch today.

NOTE: This early bird offer ends October 31, 2021.

PPS:

Wanna learn how to build a profitable and sustainable coaching practice? Shine Lagos comes up on October 2nd 2021, if you'd like to join us or want to secure a seat for someone...please call 09086786515 0r 09086786516

PPPS:

The Brand Acceleration Workshop comes up in October.

Specifically October 4th to 8th 2021.

For $100 or N50,000...It's pretty much the best marketing/sales training experience for coaches, consultants and trainers this side of the world.

CLICK HERE TO BOOK YOUR SEAT

If you'd like to be an affiliate and get rewarded with a 50% commision for helping someone improve their business...

Hit reply and let me know so I can get you all set with an affiliate link.

If you've already reached out to me...be on the lookout for notification from Selar today.