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Last Updated Date: 08-14-2021
Finally! The “Perfect” Business Model with Recurring Revenue, High Retention, Big Profits and Low Hassle
Hi, I’m Ryan Lee and I won’t try and dazzle you with 39 pages of mouth-watering copy. Nor will I try and push you to invest is something that isn’t right for you.
Nope, that ain’t my style. Instead, I’m just going to break it down for you very simply.
Way back in 2001, I created the world’s first sports training membership site and since then, I’ve personally built over 29 recurring revenue (aka “continiuty income”) businesses and coached thousands of others to do the same. I’ve been called the “continuity king” (cheesy, but you get the gist).
I’m asked to be on lots of podcasts and there’s one question that always comes up.
“Ryan, if you were starting over.. what would you do today?
The “Starting Over”
PERFECT Business Checklist…
So, after creating dozens of companies – I thought about this really hard. If I were to have a “fresh start”, here’s a list of what a PERFECT business MUST have:
• Recurring revenue: the business MUST have a way to generate consistent, dependable monthly income. Otherwise, you’re living launch to launch and it’s a ton of pressure because you’re only as good as your last sale (every day you’re starting back at zero).
• High Retention: the business MUST have high retention rates so people stick around for years. There’s no point in a recurring revenue business if members keep canceling.
• Run from Anywhere: the business MUST be able to run from anywhere. No expensive office or retail space needed. And yes, as “guru” as it sounds – you should be able to run it from the beach if you desire.
• Scalibility Factor: the business MUST be able to grow without you having to work more hours. This is the problem with “coaching” because to make more income – you need to coach more. And if you run an agency, you need more employees.
• Low Start-Up Costs: the business MUST be affordable to start-up. Forget software businesses that costs tens of thousands of dollars.. I’m talking about a business you can start for a few hundred dollars.
• Easy to Maintain: the business MUST be able to run smoothly without the stress of large customer support teams. And while there’s no such thing as truly “set it and forget it”, the goal is to get as close to that experience as possible.
• Word-of-Mouth Referrals: the business MUST make your tribe feel amazing. So good, they automatically drive new business right into your lap.
• Not Reliant On Any One Traffic Source: the business MUST be able to generate traffic from multiple sources because if you rely on only ONE – you’re done.
• Managed by One Person the business MUST be managable by essentially one person. But it’s something that you can add a team of virtual freelances if necessary.
• Backend Revenue Potential the business MUST have 6, 7 or 8-figure backened revenue potential. This is on top of the monthly recurring revenue.
• Feeds the Soul the business MUST be something I’m proud off. No cheesy marketing product, no hypey sales! I want a business I’d wear on a t-shirt and something that lights me up.
Yup, as you can see, I really thought this one out. Because after all, we’re talking about a “perfect” business model.
After going through all the criteria, the answer is clear. Crystal clear…
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