You have your core offers and you’re making money with each launch. But what happens in between those launches? Wouldn’t it be great to have reliable income coming in each and every month?
You can with recurring income! Recurring income is a great way to earn … and keep on earning!
We know what you’re thinking. What do you offer? You want to pick something that you will be a hit with your audience and will continue to bring in steady income. And of course, you don’t want to spend a ton of time getting started.
The Step-by-Step Planner Covers:
- Step 1: Shoot for the Stars with an Audacious Earnings Goal
Before any planning begins, set some BIG earnings goals. If you start with your desired end result, it will be easier to map out a plan to achieve those results.- Exercise: Plan your audacious money goal.
- Exercise: Brainstorm ways to shift your mindset into a GROWTH mindset.
- Step 2: Research Formats That Will Rake in Revenue Forever
Recurring income is money that comes in every month so that’s what we’re focused on in this planner.- Exercise: Make a pro/con list for each format that intrigues you.
- Exercise: Research which formats your competitors use.
- Step 3: How Will This Supercharge Your Other Offerings?
Don’t fall into a trap of just creating offers for the sake of creating something. To build a sustainable business, you need an overall plan while you also consider what your ideal client needs to make their life easier.- Exercise: Take an inventory of all your current offers with their price points.
- Step 4: Ask Your Tribe: Is This a Perfect Fit For You?
Part of truly knowing your target audience is understanding their buying habits and their needs. Many times if you ask someone what they need to solve a problem or to make their lives better, they won’t be able to give you a firm answer.- Exercise: Conduct some market research. Which format of recurring income would your market prefer?
- Step 5: Knuckle Down and Set Your Budget
As you’re researching what type of recurring revenue model to begin, also think of any expenses you’ll incur so you’re not hit with any surprises. This exercise also helps you understand your ROI for starting a recurring revenue plan, especially when it comes to starting a membership site as there is continuing work involved in that model.- Exercise: Work your budget backwards to determine your possible ROI and expenses for each recurring revenue model.
- Step 6: Get Pumped By Charting Your Timeline
Now that you’re ready to move forward with your online course or membership site, it’s time for the fun part: charting your timeline!- Exercise: Tweak your production timeline, working backwards from the launch date.
- Exercise: Keep a tally of your current affiliate marketing programs that you promote, along with your unique affiliate link.
- Step 7: Dig Into the Details By Outlining Your Content
Now that you have your production timeline and deadlines scheduled, it’s time to plan out your content. Outlines work best and keep you organized both for brand new products and for those you need to update.- Exercise: Choose one form of recurring income and outline the content you need to produce, including marketing content.
- Step 8: Get Support From the Pros
Being a solopreneur is awesome and you CAN be successful but at some point you’ve got to leverage your business to grow and reap increased income and doing that by yourself is difficult at best. It’s time to embrace outsourcing and creating a plan for using professional service contractors to do what they do best.- Exercise: Create a list of trusted contractors, including their specialty skill and contact info. Collect referrals from others in your networking circle.
- Step 9: Prepare For Liftoff!
Yes! You’ve planned and outlined and budgeted and produced…now it’s time to launch right?- Exercise: List your favorite people who you can invite to be beta testers. Write down what they should check and how to give you feedback (email, survey, zoom chat, etc.)
