Recurring revenue is the holy grail for the small business owner. While I knew this was true for service professionals to supplement the time-for-money model, Carol Roth shared that it’s important for product businesses as well.
Subscription box anyone? Those seem to be all the rage right now. From dog treats to rental clothing and jewelry to organic cleaning supplies, there is nothing that isn’t available to ship at a regular interval to your door right now (or so it seems).
The benefits for the small business owner is you stop having to chase people down for money.
Instead, you have a steady stream of revenue for your business, smoothing out cash flow, which is always helpful.
This short interview gave me a few ideas, and I hope it sparks some for you as well.