what kind of reoccurring revenue does your business have does it have reoccurring revenue already in place or is it the type of thing where you need to get creative to be able to put that in place so i was recently at a construction company who makes cabinetry they make custom cabinetry and we’re having a meeting about how we can increase sales and and try to get through and get enough money coming in to be able to support all the different labor and the machinery and things that are there and one of the things that’s really important to look at is how can we create reoccurring revenue on models that don’t seem like they would have it so if you’re creating custom cabinetry think about how maybe you could offer a service plan that goes into repairing or fixing anything that comes up with that custom cabinetry and maybe it’s 30 bucks a month or 60 bucks a month or something like that or it’s not even a monthly it’s an annual fee it’s 99 for the year and it comes with replacing hardware or replacing fixing things if it’s needed now most of the clients so you’re going to get say you’ll get 10 clients or 20 clients on this program only one out of the year may actually claim it or two out of the year might actually claim it so it’s a net positive for your business but you need to think about that because that’s what makes a business sustainable having to chase new clients constantly all the time it can be very exhausting and it can put you in months where you have really bad down months which is hard when you’re employing people so for me it’s really important to think about reoccurring revenue in business that’s what makes a business valuable especially when you go to sell it the person who’s buying your business is going to want to see what kind of reoccurring revenue do i get just for taking over this business without having to do any additional marketing or sales or sales calls or things like that so comment down below tell me what kind of reoccurring revenue models you’ve created that are outside the box that are kind of unique like the cabinetry concept that i shared in this video i’d love to hear from you joe people with skype studios thank you for watching
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