Today Roland talks to you about one of his favorite things.
Monthly Recurring Revenue.
Why does he love it? Because it’s a game-changer. On average, MRR increases the value of your business between four and five times.
Listen today if you need to be taken through all the ways to find recurring revenue in your business.
“So over the next couple of years, we took 5.4 million of static income and turned it into $27 million of value simply by changing all of it from static to monthly recurring revenue. Here’s how we did it…” Roland Frasier.
Who Is Our Host Roland Frasier?
Co-founder or principal of 5 different Inc. Magazine fastest-growing companies (e-commerce, e-learning, SaaS + real estate), Roland is a serial entrepreneur who has built or sold 24 businesses with adjusted sales ranging from $3 million to just under $4 billion. He’s a mentor and investor and an excellent podcaster too! Read more about Roland here.
Steps To Multiply Your Revenue Step 1 The first thing is to convert one-time payments into auto-ship.
“Look at every single page, every offer that you do, and be sure when you do this, that you offer that everywhere.” Roland Frasier
Step 2 Add MRR to your Services too.
“You might sell courses, you might sell a product, whatever, but ask yourself, how can I turn that from a one-time sale to a monthly recurring sale or a subscription business? And you can even sell cars on a subscription basis!” Roland Frasier.
Step 3 Turn one-time sales into SAS or boxes.
“Boxes are really hard, but they can be amazing if you do them, right. They’re hard because shipping can eat you up, but if you can nail shipping, and there are a few ways that you can do that, you can really make money with it”. Roland Frasier
Step 4 Memberships, associations, and buying clubs.
“So we sell physical products on all of the websites that we’ve got…Second base on every single thing that we sell is an association for monthly recurring revenue. It’s either a buyer’s club or an association or a membership or a newsletter. All of them are monthly recurring revenue.” Roland Frasier
- You can give products for less than people see them advertised anywhere else because Minimum Advertised Price constraints don’t apply to private memberships.
Step 5 Add Certifications to your trainings, events, courses.
“So certification is a fantastic way to protect your intellectual property plus make additional money.” Roland Frasier
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Thanks so much for joining us this week. Want to subscribe to Business Lunch with Roland Frasier? Have some feedback you’d like to share? Connect with us on ApplePodcasts and leave us an honest review! Your feedback will help us improve the show and connect us with more high flyers like you.
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