Thread by @SShideler

THE strategy that took my business from failing to well over 10M in sales and the Clickfunnels 8 figure award. (including this 4 carat diamond ring)

[1/12] A thread:

[2/12] Our business was selling licensed sports merchandise, or basically any household good you can put an NFL, NBA, etc... team logo on.

I'm a big sports fans, so that was a fun business to be in. The problem with that business? No margins.

[3/12] Licensed manufacturers need to be in the US and the leagues want their cut as well. You aren't getting these things shipped cheaply straight to you from China.

[4/12] After years of ups and downs I came across a teaching from Russell Brunson. Here is the gist of it:

Recurring revenue is the lifeblood of any business, and every business in the world should have recurring revenue somewhere in their setup.

[5/12] EVERY single business should have recurring revenue? Is Russell crazy?

I kept thinking about it though.

Finally we launched a "Buyer's Club" for sports fans.

[6/12] People paid us a monthly fee for access to sports products at cost (margins were now all in the membership), private communities, discounts on tickets and local restaurants and more.

This was the shift that exploded our business.

[7/12] Margins no longer mattered on products since they were sold at cost.

Margins on memberships? Very high.
Lifetime value of a customer? Skyrocketed.

Allowed us to spend much more on marketing, with a much higher return on ad spend.

[8/12] It's not always easy to see, but Russell is right (as usual). Recurring revenue is the GOAT of business models and is the eventual evolution most businesses go to.

Amazon prime? Recurring. Costco? Netflix? Microsoft (windows and xbox live) etc.. etc...

[9/12] Just look here on money twitter. All the smartest guys figured this out too.

@CJ_Johnson17th with WealthSquad
@wizofecom with Utopia and now Social Studio
@blackhatwizardd SaaS

[10/12] Every business I have launched since has recurring revenue, and Russell still insists ALL businesses should.

Some businesses have obvious recurring revenue opportunities, but some don't. Amazon Prime wasn't obvious, so in some cases you will have to get innovative.

[11/12] As practice, every business I see I now try and figure out a recurring revenue strategy for them. Here are some of the most common:

Subscription
Buyers Club
Community Membership
Discount Membership (think Amazon)
SaaS
Yearly costs split to monthly (think Dentist)

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