The Anatomy of Creating a Recurring Revenue Stream – A Mini Case Study
Sometimes we get so busy in the day-to-day of running our business that we completely overlook the golden opportunity that is in front of us. It happens to all of us and for all kinds of reasons. These blind spots once illuminated and properly harnessed can easily become a lucrative recurring revenue stream, often with little effort…
Let’s break it down in this mini case study where a casual conversation about “Hey what’s going on in your business?” led to creating a lucrative, recurring income stream.
STEP 1: SPOTTING THE OPPORTUNITY
When somebody tells me that something is massively working in their business because they cracked the code on outsmarting the algorithm and have 10X’d their audience in a short amount of time, my ears perk up and…
My mind immediately goes to what an amazing service this would be for other entrepreneurs who are looking to get their content in front of more people. So I suggested packaging it up and selling it as a digital product.
STEP 2: OVERCOMING OBJECTIONS
Well, that’s not really what my business is about…
Concerns about diluting brand identity, and getting into unfamiliar territory are just ways our subconscious mind uses very convincingly, if I might add, to keep us from seeing an opportunity for what it truly is: a great service that will benefit others and with the right strategy behind it, can become a recurring revenue stream.
STEP 3: BRAINSTORMING THE STRATEGY
Who is the audience for this?
How do you package it?
What’s the pricing strategy?
How can you create demand and urgency?
What’s the most fun and simple way to deliver it?
Answered those 5 questions IN. ONE. HOUR. and it was off to the races (pun intended).
FINAL STEP: THE RESULT
The product immediately generated thousands of dollars and subsequently was set up as an evergreen product that continues to bring in revenue to this day. Not my words but the words of the business owner who grabbed the opportunity by the horns and ran with it.
I am delighted to have received this endorsement from my former mentor and now dear friend whom I greatly admire. (This is unedited, literally pasted from email…)
“For anyone considering Simona’s 30-Day Breakthrough Intensive or VIP days, and wondering if quick results are truly achievable, I want to share my experience. Not too long ago she picked up on a lucrative opportunity from just a casual conversation where I shared about my day. Immediately she zeroed in upon an opportunity I had completely overlooked.
Despite my initial resistance, Simona didn’t just suggest a course of action; she engaged me in a thought-provoking dialogue and powerful questions, that helped me see the potential she saw. Encouraged by her perspective, we brainstormed a strategy together, which thanks to her “tough love”, I implemented immediately.
And much to my surprise and delight it immediately generated thousands of dollars in just an hour’s work and subsequently was able to be set up as an evergreen product that continues to bring in revenue to this day.
Her ability to cut through the fluff to pinpoint actionable opportunities and coach you to completion is unparalleled. I highly recommend her to anyone looking for significant, rapid results.”
Nafissa Shireen, Coach and Mentor, The Prosperous Woman Coaching Company
Could you be sitting on a goldmine somewhere in your business?
~Simona
PS: I’m going to work with a handful of private clients this month. Would you like to work with me? Find out more HERE…