Recurring vs. Reoccurring RevenueMar 13, 2023
I firmly believe that one of the key components to unlocking scalability in your business is having a recurring revenue model that allows your customers to make purchases from you time and time again. Relying solely on a product or service that generates a one-time sale per customer can quickly lead to burnout. The constant need to market and acquire new customers can be exhausting, making it challenging to grow your business effectively.
We've talked about this before, but the topic of recurring versus reoccurring revenue has been a recent point of interest. In our upcoming discussion, we'll explore the differences between the two revenue models and how each can benefit your business.
"I truly believe that one of the secrets to unlocking scalability in your business fundamentally is having some type of recurring revenue model and having a way for customers to buy from you over and over again."
In this episode, you will learn the following:
1. What is the difference between recurring and reoccurring revenue and which is better for your business?
2. How can you maximize the value of your customers through recurring and reoccurring revenue models?
3. How can you convert reoccurring revenue into automated recurring revenue to increase cash flow?
What you'll hear in this episode:
- What is a second recurring revenue model?
- The foundation for any successful scalable business is having a recurring revenue model.
- How to convert perishable products into recurring revenue.
Here are some brief snippets from this episode:
One of the secrets to unlocking scalability in your business fundamentally is having some type of recurring revenue model. Recurring Revenue recurring revenue is the routine repurchase like a membership or subscription from your clients. Reoccurring is when customers will buy multiple times from you, but not on a set interval or a routine.
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
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