Fox's Hierarchy of Needs

[Fox]

Fox's Hierarchy of Needs...

Start here
and work down

They need one thing: Pay you by the hour
They need something done: Pay you by the job
They need something created: Pay you by the value
They need something you created ongoing: Pay you reoccurring
They need to create using something you created: Pay you passively
They need to sell something they created using what you created: Pay for your network/platform​

 

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[Raoul Duke]

Fox's Hierarchy of Needs...

They need one thing: Pay you by the hour
They need something done: Pay you by the job
They need something created: Pay you by the value
They need something you created ongoing: Pay you reoccurring
They need to create using something you created: Pay you passively
They need to sell something they created using what you created: Pay for your network/platform​

 

[Fox]

Where are you guys at with your services or products?

I have created something that people need and I am now trying to move that into reoccurring revenue also.

 

[Raoul Duke]

Where are you guys at with your services or products?

I have created something that people need and I am now trying to move that into reoccurring revenue also.

I decided to hold off being a copywriter. I'm not in my 50's yet. So... I don't want to be seen as a "guru".

Back to the drawing board?

 

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[MattR82]

Making the mental move from pay by the job to pay by the value is tough for me, but determined to get there.

 

[amp0193]

Where are you guys at with your services or products?

I have created something that people need and I am now trying to move that into reoccurring revenue also.

I am having a big internal debate at the moment.

The past 6 months I've spent building an awesome product/brand with the angle of going customer direct through ecommerce (which is not being done in this niche).

However, the reccuring revenue for high-end non-consumable physical products is in selling to brick and mortars.

I think recurring revenue is what is going to give a business more value when it comes time for an exit, which is why I've been thinking about it a lot more lately.

Have you read Built to Sell? It's a quick narrative about a creative agency that streamlines it's product offering and gets into a recurring revenue model.

 

[JAJT]

I think recurring revenue is what is going to give a business more value when it comes time for an exit, which is why I've been thinking about it a lot more lately.

I've been thinking of this for my business as well.

Better margins in direct to consumer via e-comm but finding partners who can just "move" the product regularly in their stores provides a much better, more reliable stream.

Have you read Built to Sell?

I'll be picking this up tomorrow. Thanks

 

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[amp0193]

I've been thinking of this for my business as well.

Better margins in direct to consumer via e-comm but finding partners who can just "move" the product regularly in their stores provides a much better, more reliable stream.

That's true, however your products are a bit consumable in nature, and I think the potential of picking up an increased lifetime value of customer is possible than maybe more than the average product. B&M Stores would just be another traffic source for you.

And I think you considered it at one point, but you could always re-visit the subscription model, and see if it fits with what you want for the business.

For products like mine, that are a "one and done" purchase, making the B&M store my customer, is really the only way to generate recurring revenue.