5 Reasons An Entrepreneur Misses Out on Recurring Revenue

 

 

Imagine having a strategy in place for recurring revenue in your business. Instead of chasing sales each month, trying to cover your expenses, you have cash flowing in that you can count on. Talk about peace of mind, right? But not every entrepreneur is enjoying this benefit and way too many are scrambling each month trying to make enough sales.

There are five main reasons why an entrepreneur might not be experiencing consistent revenue — keep reading to find out why…

Reason 1. There is No Plan

Let’s face it – when you have a business and you are “winging it” with your sales plan, you’ll end up having cash flow problems. But let’s explore WHY entrepreneurs like you – who are obviously super smart and talented – don’t have a Revenue Rush Roadmap (that’s my fancy term for a cash flow plan.)

Maybe you don’t really know HOW to create one.

Or you feel too busy to carve out one hour to map out what you want to sell this year.

For some, the idea of putting their ideas on paper makes their head spin.

No matter the reason that keeps you from creating your own Revenue Rush Roadmap, the lack of a plan is a high cost. Countless sleepless nights as you wonder how you’ll make payroll or cover the bills. Missed opportunities because you are chasing down a couple of thousand dollars to cover your nut instead of focusing on YOUR BIG GOALS! A Revenue Rush Roadmap doesn’t have to be difficult, but you do need one! Take some time to outline what your current offers are and how often you plan to sell them. 

When my Amplify Mastermind clients did this step in their Profit Explosion Toolkit at the beginning of this year the big a-ha was, “Wow, making my financial goals is WAY easier than I thought it was going to be.” 

That’s the power of getting out of your head. Your mind will play tricks and you’ll think it’s harder (or that you are way ahead when you really are way behind.)

Reason 2. You Are Distracted


 

Distraction is your kryptonite. When you take your eye off your most profitable offers, or get wrapped up in a Bright Shiny Idea that fails to perform, you’ve rerouted your effort away from what will really move the needle. When you have a clear Revenue Rush Roadmap, then you know:

  • What strategies are most likely to deliver results?
  • What tasks to focus on each day?
  • Which success habits to put first so you move the RIGHT goals forward?

Getting distracted is a sign that you don’t have the clarity you really need my friend. Figure out what’s really aligned. If you don’t know, then get a coach and gain the clarity you need. You’ll be light years ahead than struggling through it on your own.

Reason 3. Chasing Short Term Cash

A short term fire is when you tend to react to critical cash flow issues with a short term solution to fill the revenue needs. There’s two core problems with this approach:

  1. The time, effort and financial investment to put these short term offers together are robbing you from long-term financial growth.
  2. Its easy to get addicted to the burst of adrenaline and energy rush of a quick $10k coming in the door.

Short term revenue is often at the expense of the long-term health of your business bottom line. Its super easy to get sucked into this pattern as the short-term fix is usually not enough anyway, so the pattern repeats over and over again. 

Having a Revenue Rush Roadmap allows you to see holes in your cash flow and plan ahead so short term cash needs are replaced with consistent, predictable income.

Reason #4. Crushed Confidence 

Sometimes, after a few repeated failures, your confidence might take a hit. Feeling low, an entrepreneur might take their foot off the gas, start holding back and ponder giving up. (gasp.)

If you are experiencing low confidence and you just don’t have the inspiration to get up and conquer the next challenge, chances are one of these situations is in play:

  • You are not doing any marketing, which means you aren’t getting new leads so you don’t have enough sales.
  • The marketing you are doing is flat and missing your normal brand and inspiration. Your prospects will FEEL THIS.
  • Knowing you need to do SOMETHING, you mimic a competitor’s strategy, only to get dismal results. 

If your confidence is low and nothing is working, consider getting outside expertise to infuse clarity and stoke the motivation again. 

Sarah’s Story

Sarah was spinning her wheels trying to come up with a way to get cash in the door. Her tried-and-true lead generation strategies she’d used for 20 years had stopped working. Cash was running out and she was a bit panicked.

Sarah booked a Profit Explosion Supercharge Session with me to uncover the REAL problem and get back on track. What we discovered was she didn’t have CONSISTENT MARKETING activity in the market where her best clients are. But she was spending thousands of dollars on events where she wasn’t even breaking even! We quickly came up with a three part strategy to get in front of her ideal clients. One of those strategies was to email her list (which she had not emailed in weeks.) This brought in 5 immediate sales and a flurry of consults which led to a $10k package.

Could Sarah have figured this out on her own? Maybe. But she was so paraylzed with fear and low confidence that she couldn’t see the Hidden Gold right under her nose.

Reason #5. No Revenue Model

One final reason you may not be enjoying consistent revenue in your business — you don’t have the business model set up yet. Maybe you’ve meant to get a coaching program going or set up a certification program. Maybe you’ve heard about the value of recurring revenue but just can’t figure out how you would set that up for yourself. Bottom line is this:

  • Every business model has recurring revenue potential but you just don’t know how to structure it yet.
  • If you don’t, you may need to shift your business model!

The good news is both of these situations is pretty easy to fix. You just have to decide you want it.

Your Next Steps

Figure out which, if not all, of these reasons are keeping you from having the consistent cash flow you desire. Then pick just one recurring revenue strategy to focus on…and then get to work!

Not sure where to start? My Profit Explosion Toolkit can help. =-) 

Inside this downloadable toolkit, I’ll guide you through how to map out your Revenue Rush Roadmap. You’ll get crystal-clear on what to focus on to generate your sales goals, along with any “income holes” that might lead to a cash flow rollercoaster.

Plus you’ll get access to my 2 part Profit Training videos designed to help you improve your business offerings so that recurring revenue is EASIER.

Get access now over at www.ProfitExplosionToolkit.com!

 

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