The internet provides a great potential for recurring revenue businesses and passive income.
Here are my top three favorite business models for leveraging your work into more time AND more income:
- Affiliate Marketing
- Subscription Offers
- Membership Sites
I personally have been running some kind of recurring revenue business since 2010. For almost that entire time I had a base income I could rely on and help me move through life changes, economy shifts and more. I also spent much time looking for sustainable passive income business models as well.
Passive Income Ideas for Moms
As a mom of two and a major contributor to the household I have always been looking for ways to work smarter and make the work I do go as far as I possibly can.
There was a period of time when I decided to cancel my membership site and run my business without it. Do not recommend! I spent about seven months in a major scramble to earn income. Starting from $0 in income each month is just harder and it requires you to do more work.
Building Recurring Revenue Businesses
If you want a business where you are not in a constant hustle for money then I highly recommend you start implementing recurring income into your business NOW.
This allows you to be a better business owner because you will have time to focus on your products, your customers and the other things that allow you to scale and improve your business.
When you have recurring business revenue you have:
- Peace of mind knowing money is coming no matter what new marketing you can do.
- A baseline of income you can build on.
- The ability to take a break when you need it, or rest, or plan, create strategies, etc.
Three Recurring Revenue Businesses To Start
Recurring & Passive Income Idea #1: Affiliate Marketing
An affiliate marketer is like a commissioned salesperson. You sign up to be an affiliate, get a special link that identifies you as the referrer and promote other people’s products to earn an income.
Many companies run their own affiliate programs within their own software. Other companies join a large affiliate network. As an affiliate in a network you can choose from hundreds of programs to promote all within one system.
Personally I like in-house affiliate programs and to really focus on one product that I love. I find this is the most effective way to promote an affiliate offer. I share what I love and find programs that have recurring offers, such as a monthly software as a service.
In recurring revenue programs you do the work once and get paid month after month.
In passive revenue programs you do the work once and get paid randomly – little surprise commissions that keep on coming 😉
Here’s my affiliate statistics from Aweber, an email marketing software program that I started promoting in 2006 and have not promoted since around 2016 yet I’m STILL getting monthly commissions.
The biggest key to making long-term recurring income like this is to choose programs with staying power. I knew at the time when I choose Aweber that it was a great program, I didn’t realize that 17 years later I’d STILL be earning commissions from it!
Recurring & Passive Income Idea #2: Subscription Offers
You can easily add subscription offers to a product or service you offer regularly.
It’s less of a commitment than a membership site but with the same kind of perks!
This type of business model is not normally passive but it is recurring. You will be earning a steady and growing monthly income if you continually find new subscribers to your offer.
Recurring & Passive Income Idea #3: Membership Site
The membership is an “all-in” option when you know you really want to dig in with your community and offers for the long term.
A membership site has so many rewards but it’s a big commitment so you want to be ready.
Essentially a membership is much like a subscription. It’s a recurring revenue business offer however members tend to expect to be able to engage with each other, often the owner and receive other perks and upgrades.
Whatever you do – please take recurring income seriously. Not only is a lifesaver on the month to month… it’s ESSENTIAL when life pops up.
Wishing you all the best and lots of lifestyle freedom!
Other posts you might like:
How to Add Passive Income to Your Business
Growing and Starting an Online Business
