248: Scaling Up a Service Business: From Idea to $400k in Monthly Recurring Revenue (in Under 3 Years)

The Side Hustle Show

Nick Loper

Entrepreneurship, How To, Education, Business

4.7 • 1.6K Ratings

🗓️ 21 September 2017

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Three years ago Design Pickle didn't exist. It wasn't even an idea in founder Russ Perry's head yet. That's why it seems crazy to me that today the unlimited graphic design service is doing $400k in monthly recurring revenue! Back in 2014 Russ was running a creative agency, but he started to hate everything about it. “I felt like I was in a prison of my own creation,” he said. By January 2015, he'd shut down his agency and started working as a freelancer. Not wanting to build a similar prison again, he sought out a different business model -- one with a simpler service offering that was designed to scale. From taking on a friend as his first client to now completing more than 800 design jobs a day, it’s been an incredibly quick ascension and a great example of how to scale a service business. Tune in to hear how Russ grew his business from zero to $410k+ in monthly recurring revenue in less than 3 years. We cover his marketing strategies, his hiring best practices, and what Design Pickle does to keep customers coming back month after month. Full Show Notes and PDF Highlight Reel: Scaling Up a Service Business: From Idea to $400k in Monthly Recurring Revenue (in Under 3 Years)

Transcript

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0:00.0	Side Hustle Show 248 scaling up a service business from idea to $400,000 in monthly recurring revenue.
0:07.0	What's up, what's up, Nick, Lober here, welcome to the Side Hustle Show, because your idea of success might not coincide with your bosses. Our recurring revenue theme for the month rolls on this week with the crazy story of a side project that's turned into a multi-million
0:23.7	dollar year business in a little over two and a half years with just one
0:27.0	service offering. You've probably heard of productized services before. These are
0:31.6	businesses that take skills normally sold on a
0:34.6	project basis or an hourly basis and it sells them like their products with
0:39.2	flat fee packages and they're often sold on a monthly subscription model.
0:43.2	Like most recently we heard from Gabe Arnold
0:45.8	from a copywriter today, which sells article writing
0:49.0	as a monthly subscription.
0:51.0	And when we caught up in episode 205, he was up to $20,000 in monthly
0:55.0	recurring revenue. But today I want to introduce you to Russ Perry who
0:58.8	took this model and took some inspiration from another side hustle show guest and created a really cool business called Design Pickle.com.
1:07.1	The service offers unlimited graphic design tasks for a low flat monthly fee and maybe the exciting part is as you'll hear Russ say is that he
1:15.6	sucked it design it was never about him doing the work so I invited Russ on the show to
1:20.0	learn look how did he get his customers And how did he build up his team
1:23.8	to deliver consistent quality results?
1:26.4	The pain point for a lot of entrepreneurs
1:29.0	and side hustlers in the freelancing or consulting
1:31.7	world is how to decouple their income from their time right how to stop
1:35.3	trading hours for dollars that's something I think Russ has done extremely well and I
1:40.5	invite you to listen in to hear how he's scaled the unscalable a service business.
	...

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