We'll see how to make money online by setting up
recurring revenues over the long term. Indeed, the problem of most online
entrepreneurs is that they put all their eggs in one basket. This poses several
problems: income sawtooth and a company that can break the figure overnight. I
experienced both of these problems and I almost put the key under the door
several times. In this article, I'll show you how to create passive and
recurring income while diversifying your sources of income in order to have a sustainable
business over the long term but also to have activities that allow you to
finance the development of your projects greediest time and funding.
In this article you will learn:
4 types of recurring revenue that you can put in place
that will allow you to bring in cash each month in your business by working
only a few hours a week
The difference between the short-term revenue, medium
term and long term and why it is vital to enable the three
How to implement several projects simultaneously when
you are a single
overworked entrepreneur.
1. The importance of recurring revenue
Regardless of your industry, it is vital to set up
recurring revenue that will allow you to enter the case number every month in your
business, no matter how long you work. If you follow me regularly, you know
that I have three main activities are training, e-commerce site publishing and
software sales. But that's not all. Indeed, I have also set up recurring
revenue as many thematic and localized directories, niche blogs, niche
e-commerce sites, video tutorials available on market places or small mobile
applications simple to create, which are returned from the Google AdSense type
of income every month on my bank account doing nothing.
All of these sources of income allows me to be calm
but also finance the development of my other activities without asking me if I
would have enough to eat the following month. So I can continue to develop my
core business while delegating tasks to assistants and service providers. But I
can also and above all use some of my recurring revenues to develop other
projects may take longer to implement. And I really think the key to success
lies here. The more you set up projects, the more you have the opportunity to
grow your business and eventually sell it in a few years. However, if you put
all your eggs in the same basket as the act of spending all your time to create
video training, your business may collapse overnight.
Indeed, it is not uncommon for entrepreneurs engaged
in the creation of video training or even in a single e-commerce site one
marketplace or a single software for x or y reason the business will start to
decline. They hold body and soul to their business, but at some point you have to
be realistic, it's time to file for bankruptcy. And I can assure you that it
happens to many more entrepreneurs than you can believe. I advise you to
allocate 20 to 30% of your time setting up recurring revenue that will help you
not to lose everything overnight while making your business grow by developing
new products. In addition, you will also be able to outsource some of your
tasks as we have seen in my article about hiring a virtual assistant.
2. Set up long-termist income
If we take the example of my work, I have different
types of projects. There were initially short-term projects that will allow
getting fast cash. In my case, this is video training since I get out a new
video training per week. In this case, I just send an email to my prospects and
clients to set up an advertising campaign and incomes begin to fall rapidly. It
is the same for some of the software I sell to already have provided lists of
prospects and customers. That said, I also have business rather medium term and
long term. In fact, when I set up a niche blog, I know that the first revenues
will not begin to fall for three or four months and I also know that they will
begin to stabilize from six to eight months.
So, I cannot live that it otherwise I would have to
create dozens of simultaneous blogs to hope to make a living in six months.
Similarly, when I create niche e-commerce sites, I do not count on gains
generated within a year. Let me explain. It is quite possible to start
generating revenue with a niche e-commerce site by the first month. Just put up
a small advertising campaign and voila. That said, if you want to grow your
business, create new e-commerce sites niches, publicize through the creation of
commercials, it will reinvest a portion of gains. This is why I do not touch
the income generated by my e-commerce niche sites the first year.
I really invite you to do so because it will not only
diversify your sources of income, but in addition to automatic and passive
income after six months or one year. Also, if for x or y because you no longer
want to take care of your core business or that it does not work, you will have
other sources of income that will allow you to bounce rather than having to put
the key under the door to become employee. Keep in mind that an entrepreneur is
an unstable job, high risk and nothing is ever guaranteed. We must therefore
make every effort to anticipate potential revenue losses to bounce back easily.
This is in my opinion the essential quality of a good entrepreneur more than
management or management. For if tomorrow you do not have money in your
business, being a good manager will not serve you much
since you will dismiss everyone.
3. Examples of recurring revenues in the medium and
long term
As I said earlier, I have several types of business.
Some are short-termist; others more average termist and other long-termist. In
my case it is:
the creation and sale of video
training
the creation and sale of software
the creation and sale of e-commerce
niche sites
installation of niche blogs
the sale of video tutorials on
marketplaces
the sale of themes and scripts on
marketplaces
the sale of photos on marketplaces
creating directories located
affiliation with income
the creation of price comparison
with white label affiliation income
the creation of websites dedicated
to selling affiliate products
etc.
Of course, there are different sources of income such
as the sale of e-books on dedicated platforms, selling software, scripts,
plugins, handmade items, recipes, audio CD's etc.
When I speak of directories located, it is simply
directories that will list professionals such as lawyers, osteopaths, physiotherapists
or traders. To compensate, I use three methods that are surcharged telephone
numbers, the establishment of advertisements and subscription sales
professionals that are on my directories. Multiplying this type of websites,
you can easily set up recurring revenue that will begin to fall from a certain
number of months, depending on your SEO competence since 100% of the traffic
will come from search engines. And this is also the case for most of the
activities that I put up that I added to certain activities, the implementation
of advertising campaigns on Facebook Google AdWords etc.
4. How to develop sites for recurring revenues
There are certain types of activities you can set up
your own without any technical knowledge. This is for example the case of video
training, sales of e-books, the development of niche blogs or even the
introduction of e-commerce sites. Of course, you have to master the basics of
PrestaShop and WordPress but it's not as simple as that and I show you how in
detail in my dedicated video training. Just watch the video once and you'll
quickly be able to set up an e-commerce site or a niche blog. Then there are
other activities that will certainly require the provision of a web developer.
This will be the case for example of the introduction of a price comparison
white label or the creation of a Geo-localized directory.
While there is plug-ins directory WordPress, it will
not do all the work. Indeed, when creating a Geo-localized directory, we use
scraping to create a very fast member database. For example, if you want to
create a law book, you simply scraper data on websites like pagesjaunes.fr or
118-218. It is not enough to mount SEO and it will of course add content to
contextualize the page. That said, a developer will need to create a scraper
that will search data pagesjaunes 118-218 or to import them to your site and
get in shape. It will also use resource providers if you want to develop
WordPress themes, plugins or anything that requires developing skills that you do
not control.
Finally, there are many other types of activities you
can monetize without the need for specific technical knowledge as the sale of
video training, sales of e-books sale, photos, graphics and j ' on.
How to outsource the development of recurring revenue?
I talk about it often, but it is clear that you cannot
put it all up himself. If you want to set up niche blogs, e-commerce niche
sites, and video tutorials available on marketplaces, price comparators white
label etc, you will need to recruit assistants and providers help you set up
everything. In my case, I use a virtual assistant to format my contents. That
is to say, I am creating video training or e-books myself and my assistant will
be responsible for assembling videos or formatting of the e-book, create
accounts marketplaces and to sell the products.
When is a price comparison site or e-commerce site, I
have written detailed procedures on video I provide my service, and after a
while he knows like the back fingers of work he has to do. Therefore, I know
that he can settle a directory in a week or an e-commerce site in three days. I
urge you to put in place procedures and outsource activities. Again, this is
not being stingy and wanting to do everything alone that you can develop
recurring revenue, be calm and have a business that will grow.
