How to achieve a recurring revenue online
Discover how creating an online membership model for your business can be rewarding in more ways than one…
Is your goal to have a recurring revenue in your online business? It’s what many of us dream about but in reality we usually end up having to trade time with money. So, how do you go about it? I spoke to entrepreneur Nathalie Doremieux who took her expertise as a software engineer and after a few ups and downs, has created an online business helping people stay connected after finishing an online course.
The idea is so simple – Nathalie started out by offering a platform for people to access online courses. After listening to what people really wanted – the fact that many learners weren’t ready to leave the support network provided by their online learning environment – she has niched down to offer ongoing support to people who have finished an online course.
For a monthly membership, people get access to the same kind of content, support and community that they got while they were on their courses. However, members are free to leave at any point – for Nathalie, it’s more about being able to continue supporting people by strengthening her relationships with them over time than earning a quick six-figure sum.
This type of business model – taking a bricks and mortar business and putting some of it online – is a growing area. By creating a membership programme such as Nathalie’s, you can engage in peer to peer teaching, where you share your knowledge and experience with an interested community, giving like-minded people the tools to start their own businesses. Helping people in this way saves them time and money while giving you a recurring revenue and a great deal of feel-good factor – it’s a win-win!
Here’s how to go about it:
Find the right people:
You need to find people who can make your business work. It’s easy to think you can do it all yourself but actually, the only way to move forward is to get help and advice from the right people who will walk you in the right direction or give you the help and advice to go in the right direction. Know what you don’t know and take help in those areas where your knowledge is lacking.
Don't hide behind a brand:
People want access to you, not a brand. That’s what’s most changed in recent years – customers or clients are looking for more engagement, someone who is more accessible, someone they can ask questions to and check in with. It’s not just about the content, copy, intelligence and expertise any more – its about the real life person too.
Be true to yourself:
Change your marketing mindset because what often gets in the way is you! If you can’t get over ‘you’, and the barriers you create, then it’s nearly impossible to take a business forward.
Don’t just chase the money:
You need a business plan that is about more than just making money.
An online business that is going to be successful is one where you provide expertise and knowledge to a community that is totally authentic to you. It has to be something you are really good at or feel really passionate about, otherwise you’ll burn out.
Aim to make a difference:
What really keeps me motivated is the knowledge that I’m making a difference to people. What’s most exciting is when you see results for other people. It feels so good to be able to contribute and see how many people you can help. This creates a ripple affect because the people you are helping then help other people and that keeps your motivation going.
For more details on how to achieve recurring revenue online listen to the full Podcast at http://simply-marketing-net.stackstaging.com/2019/07/07/episode-24-how-to-create-recurring-revenue-online-with-nathalie-doremieux/
For more about Nathalie, visit her website at https://newsoftwaremarketing.com
Take a Free Masterclass at: https://newsoftwaremarketing.com/masterclass
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