Building predictable income streams of online work with Jason Resnick – SWC 41
July 18, 2019 July 18, 2019 /
Online entrepreneurship as a freelancer or as a small web agency owner can be highly unpredictable in terms of work and money flow. How can you add more predictability to your online income streams?
What is needed for predictable income flow? Jason Resnick shares about adding more predictability to the income earned from online activities be it as a freelancer or an agency owner.
01. Understanding Predictable Income
- In straightforward terms or from a layman’s perspective, is predictable income like I will make $5000 minimum every month or is there more to this concept?
- Is the concept of predictable income same as recurring revenue, or are they different to some extent?
02. Preparing base for predictable income
- Most freelancers and even agencies are into the project to project money flow with very little fixed (predictable) monthly income flow. How does one start to prepare for predictable income flow?
- How does one identify and decide on a set of new services that can be offered on a recurring basis to build up the predictable revenue stream?
- How vital is productization of existing services like a lot of agencies have started offering website development as a monthly package with 1-2 years commitment as against one time, one high price?
03. Marketing & Processes for predictable income
- When going from fixed one-time pricing to monthly recurring pricing, deciding on what to charge can be foggy for most people. Is there any methodology for determining monthly recurring price points?
- Reaching out to the right clients that are interested in recurring services rather than one-time price is essential. What are a few dos and don’t when building a marketing plan for getting new clients that fit into your recurring business model?
- Would you recommend cold email outreach as part of the marketing plan for getting new leads?
- When you have a client on recurring service subscription, is upselling to get more value from existing clients, a vital part of the process, or it should be avoided?
04. Predictable revenue in Web Agency
- When it comes to recurring money flow in an agency, most will suggest – offer care plans. As per your experience of coaching various agency owners, besides care plans, what creative, radical services have you noticed from agency owners that worked well in building predictable revenue stream?
- Which are a few most common mistakes online creative people make while trying to build predictable revenue stream?
- Now we have focussed on predictable recurring work, efforts, and services. But doing that usual fixed one-time fee work like website design development, is it still recommended or go all recurring?
Jason Resnick’s ToolBox
- Zapier for implementing automation among various services and tools.
- Use Pipedrive as CRM for sales and client management.
- For email marketing needs use ConvertKit service.
- Use Slack for internal communication and messaging.
About Jason Resnick
Personal relationships are the backbone of my business. Most of my clients become long-term partners, many of whom have come to me by personal referral.
I figure all my customers should be happy customers, and I work hard to make sure that’s true. I help developers and designers discover their niche, plan out and market themselves to build predictable revenue, and stay in the feast.
So that they can live the life that they want and ultimately reach the goals of why they started their own business in the first place, I have run my own web development business since 2010, helping established online businesses, increase sales through optimization, conversion, and behavioural strategy.
I do this through on-site personalization, email, and marketing campaigns to learn more about the potential and existing customers to decrease the time to first purchase and increase repeat purchases.
Jason is the person to help others get recurring revenue and stabilizing a development business. Great episode with great people.