How to Build Your Business With Recurring Revenue - 034

Bedros Keuilian Podcast Show

Bedros Keuilian

Self-improvement, Education

5 • 2.2K Ratings

🗓️ 14 February 2018

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Don’t you want to generate monthly, predictable revenue for your business that will scale your empire to its full potential? In today’s episode, Craig Ballantyne and Bedros Keuilian talk about the financial benefits of having systems in place that warrant recurring income. And when it’s time to sell your business, the valuation will skyrocket because you were able to 10X your earnings.

Here’s what you’ll discover:

3:37 - Why recurring income will increase the valuation of your business to a potential buyer.

6:20 - How Bedros used recurring revenue to revolutionize the personal training and boot camp world.

9:00 - Why recurring revenue can work for any and every industry.

12:05 - How to break up your online information product into modules and charge on a monthly basis.

17:54 - How you can have a recurring model based on demand for your product or service.

Transcript

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0:00.0	When you are ready to sell that business and all businesses, all empires, should be built to sell,
0:06.4	now the determining factor is is the valuation just 3X the earnings or is it 5 and 10X to earnings
0:12.0	because you've been able to build reoccurring revenue in it? Hey, Craig Balantine here.
0:22.6	We're going to talk about one of the secret
0:34.7	ingredients to building your empire I am here with Bedros Koolin. All right Bedros my friend
0:39.9	we are going to talk about something called recurring revenue and how this is so important.
0:44.4	And I like to say that if you're waking up without the guaranteed money of recurring revenue
0:48.9	in your business, then your business is at risk of disappearing, right?
0:52.4	Sure, absolutely. and in fact I was
0:54.0	that guy that was waking up you know every day without having recurring income
0:59.0	scheduled to come in. Yeah and when when you put that in place, you have that security, that cushion.
1:05.4	It's not necessarily always guaranteed to be there, but it is that foundation that allows
1:09.8	you to go and invest some of that income into building the empire greater and greater, right?
1:15.8	Exactly right.
1:16.8	So I'll tell you a funny story about this.
1:18.2	When I first started out as a personal trainer, I was selling personal training, you know, three
1:22.1	sessions, five session, ten session blocks at a time.
1:25.0	And so if I had 10-15 clients at any given time they were on a block of sessions and when those sessions would run out,
1:31.0	I would have to come back to you and sell you another
1:33.6	block of sessions again.
1:34.6	It's, hey Craig, listen, you were out, you just, that was our 10th workout together.
1:38.8	Did you want to buy another block of sessions?
	...

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