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How to generate recurring income in your business?
Yes, we all long for that day ... the day when our business can generate recurring income on its own (and of course, it does not consume all or a good part of my time for it).
But let me confess something, after more than 5 years
helping business owners to generate demand, I can assure you that that day will
come and that yes, that a business generates constant flow is possible.
Of course, it will not be an easy path, we are not going to
fool ourselves, but with a good methodology, discipline and perseverance of
your entire team you will be able to reach the goal.
And, well, to help you along the way, we want to share with
you some of the tactics that have helped businesses like yours in their
journey.
Define roles, processes and tasks
The first step - and perhaps the most important - when you
want to generate recurring income is to define and develop the roles of each of
the members of your team.
Each person must fully understand what their
responsibilities are within their position, as well as the tasks they must
perform, who is responsible for evaluating their work, with whom they must team
up and how they must collaborate with them to achieve mutual success.
Be careful, this does not mean that you should build a
rigid, hermetic and bureaucratic structure. On the contrary, it is about
building structural stability but that can be flexible and adapt quickly to
changes.
How is this accomplished? Defining and implementing processes.
That is, making your different teams work hand in hand, participating in the
same project.
Image: PIXABAY
Strengthen your
marketing area
Although investing in Marketing strategies to generate
demand is one of the things that specialists recommend, the truth is that in
times of financial uncertainty most companies lower this budget or even decide
to cut it.
However, this is not continuously the best idea, since a
good performance in the Marketing area helps, among other things, to maintain
the connection with current and potential customers, visibility in the market
and brand recognition (very important to avoid being traded for our
competitors).
Likewise, it can also help you to find fresh ideas and paths
that lead to new markets and other audiences, even outside your city, state or
country, because thanks to digital tools, social networks and ecommerce we can
sell practically anywhere in the world. world.
Finally, take into account that with models such as inbound
marketing you can build actions that generate continuous results in the long
term. That means, you can attention your efforts on a specific audience based
on tastes, challenges, concerns and goals without allocating a large budget.
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