The Back End Of Business Podcast

Ep 8 | Why Recurring Revenue Changes Everything

Carly Murphy Season 1 Episode 7

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0:00 | 15:44

Welcome back to The Backend of Business.

This week, I'm talking about one of my favourite business topics…

Recurring revenue.

I know it doesn't sound particularly exciting.

But honestly?

Nothing has given me more freedom, stability and peace of mind in my business than knowing money is already coming in before the month even begins.

If you're constantly wondering where next month's income is coming from, or you feel like you're always chasing the next client, this episode is for you.

I'm breaking down what recurring revenue actually is, why it's been such a game changer for me, and how you can start building more stability into your own business without making things more complicated.

In This Episode

  •  What recurring revenue actually means 
  •  Why feast-and-famine business cycles happen 
  •  How recurring income reduces stress and improves cash flow 
  •  Why stability creates freedom 
  •  Different ways to build recurring revenue into your business 
  •  Why you don't need a huge membership to make it work 
  •  Questions to help you create recurring offers 

Growth is exciting.

But stability is what creates freedom.

Building recurring revenue gives you the confidence to make better decisions because you're no longer starting every month from zero.

Links Mentioned

Learn more about working with Maebelle Tech Agency

Follow me on Instagram

Book an SOS Tech Session

SPEAKER_00

Hello and welcome back to the Back End of Business Podcast with me, Carly Murphy, the founder of Maybell Tech Agency, and today we're talking about something that might sting a little bit. Because I know there's some people out there who are incredibly talented and they're listening to this podcast, and I'm not doubting that you are absolutely fucking brilliant at what you do. Clients lovely working with you, your clients get amazing results, and you get amazing results. People leave glowing testimonials, and yet you're still struggling to get consistent inquiries. You're still having months where sales feel unpredictable, and you're wondering why people aren't buying. The hard truth is this being amazing at what you do isn't enough. The best kept secrets don't win. And I see this all the time. So someone has spent years perfecting their craft. They're incredible at helping people, they generally change lives, and nobody knows they exist. How do I know this? Because I've been there before. I'd been there before, and the only people that knew me were the people in my circle and their closest people, their closest friends. So what we're gonna talk about today is something really, really important. So, like I've just said, people know they exist, but it could be that they don't understand what they do. They have no what you do, but they don't know clear way of buying from you. And this is so true. I have had so many people that I have followed on Instagram and gone to look at what they offer, gone to their Linkin bio, and there's a link to something that that is not gonna help them get people signed up to their email lists, it's not gonna help them sell things. There's nothing there that connects the dots, and this is a huge problem because people being brilliant in private doesn't automatically create a successful business. So, what do we need to create a successful business? We need visibility, but we also need systems, we need communication, and it needs people to actually understand the value of what they do. People can't buy what they don't understand, what they don't know, what they can't find. One of the biggest mistakes I see business owners owners doing is assuming people know what they do. You know your offer inside out, you know your process, you know how amazing your transformation is. You've seen it over and over again, but your audience doesn't. They don't spend all day thinking about your business like we do about our own. They're busy living lives of their own. So if your messaging is confusing, complicated and clear, people won't buy. And I'm not here just to talk about your messaging and what you're putting on socials and things like that, it's deeper. So it's not that people buy because they don't understand or they don't want they won't want that you've got they don't understand it. Clarity creates sales for one. Confusion creates hesitation. Great work doesn't automatically create growth. So I used to believe that if I just did something really good job, people would naturally come. Referrals obviously help amazingly. Word of mouth is powerful, but referrals referrals alone don't create predictable growth because referrals are something that you hope for. You hope someone's gonna share and they're gonna say, I did this with so and so and it was amazing, but not everybody does as much as we I'd love all my clients to talk about me all the time, but they don't. And I've got to create that same feeling in other places. So today we're talking about systems. Obviously, I'm not talking about social media and marketing messaging and things like that because that is not my um that is not my expertise, but systems are. So systems are something you can rely on. So imagine you've got two businesses, they're both incredible at what they do. One's got a website, an email list, lead magnet, they've got nurture systems in place and they've got a clear offer. The other relies entirely on social media posts and hoping someone recommends them. Again, go back to last week's post, we're talking about what happens if social media disappeared tomorrow, vanished. Um so which one do you think will grow faster? The the business growing consistently aren't always the ones that are most talented. I see so many people that have got this down to a T. And because this they got this down to a T, I might have download that free bear. Don't even know them, don't even know what they do. I know what they do as a niche, but I don't know what they do or who they're like as a person that want to download it because they've got the shit sorted. So they're not always the most talented, and something I always talk about with people I'm working with is you can be amazing at what you do. Um you can be amazing at what you do, but on the outside looking in, it doesn't look as good as it is because they've not got all these things in place. So there's people there, shit out at their what's the word? Shit out at their certain word and it's not gonna come to me. Shit art are the thing they do, but they haven't got the branding to match. The socials don't love shit art. They go to a website that they built themselves, and it's basic. Um, you want to work with them, and you've got to ring a number, you've got to message them on WhatsApp. There's no easy way to do all the steps you want to do. You watch something, so you've watched a live on Facebook, or you've been to networking, you've gone, oh my god, they're amazing. I want to work with them, and that alone helps you bring them in because they know they've met you and they want to work with you, and they don't care the system behind it. But the people online that have not met you in real life and they're just going by what they see and what they click on and what it looks like and how it works, those people we want them in our world, obviously. So businesses growing consistently aren't always the most talented, and I'm not saying everybody who's got a big growth business aren't talented at all, it's just that they the most consistent, they are the clearest, the easiest people to buy from. What I'm saying is there could be someone out there so much better at what they do, but nobody knows. So they make it easy to purchase from them, they've got everything in place. So it's not because they're better at what they do, like I said, it's because they built an amazing customer journey. They've made it easy for people to buy from them. They've gone from I've just found you to I want to work with you. And I did this the other day. Um, someone popped up on socials and they was given a free bit away, and I was like, Yeah, that's a bit of me. Downloaded it, bought the upsell straight away from their um thank you page, which was about nine dollars or something like that, and went on and started doing that. From that, she sold so much, sold so much stuff after it because it's like if you like this and you're doing well with this, this is what you can have next. Do you want to do this? Do you want to book a call? Like they've got all the stuff in place. Um, never heard of this person, never seen them. They came through, they did come through like an ad on Instagram or something like that, but they've got all that funnel in place. Remember when we talked about the funnels, the funnel is the top. It's how many people, there's loads of people up here that might be seeing you, it's how many people actually click and enter the freebie, it's how many people buy from that freebie, it's how many people buy the next thing, it's how many people buy the next thing. Do you know what I mean? And they go down to buying what's at the bottom of the funnel, which is your one-to-one. Um, so they go from I've just found you to I want to work with you, and honestly, that's what marketing should do. That's the whole plan. It's not it's not to convince people, it's to guide them. Stop hiding behind being busy. This might be a little bit uncomfortable, but sometimes we hide behind client work. I've got three client three things today, and I've got things something else tomorrow. We tell ourselves we're too busy to um post. We're too busy to create a funnel, we're too busy to sort our website out, we're too busy to create a lead magnet, a freebie. And then we wonder why things go quiet when the client slows down. Because we spend all the time delivering and none of the time building. The most successful businesses do both, they deliver brilliantly and they build. And they probably outsource a lot of it as well. Again, go back and look at the last the last couple of podcasts. Um, but they probably outsource it and get other people to do it so they can spend time doing the stuff that they're really amazing at. So, what actually creates growth? It's not just being good, it's been good and visible. It's not just being good, it's been good and easy to find. It's not just being good, it's been good and having systems. It's been good and having a clear offer. It's been good and having a way to turn strangers into leads and leads into clients. And the magic isn't just one thing, it's all the little pieces working together. So a lesson I've learned for sure. But some of the most talented people I've ever met struggle in business. I have I've worked with clients before, I'm like, oh my god, when I built these courses and put together, I'm like, it's fucking amazing. Like you're hiding this away, and these people not knowing about it because it's not been available. And they've had people buy it in the past, and it's it's had amazing transformations, but it's not out there for the world to find, and it it blows my mind. So some people um are nowhere near have experienced growth really, really fast. Uh why? Because one person is relying solely on their skill, the other person is building a business around their skill, and theirs are two very different things. A talent creates results, a business creates consistency. So it might be a little bit deeper, like, oh, is that me? I'm amazing what I do, but not enough people are seeing me. And if there's shitloads of people seeing you and you're doing amazing y'all got these in place, I'm not saying you're not amazing at what you do, but there's got to be some sort of system in place that's helping you get to where you are. So if you've ever thought to yourself, but I'm really good at what I do, I believe you probably are, but that's only part of the equation. Because the people who need your help have to find you first. They've got to understand what you do, they've got to be able to trust you, and they've got to know how to work with you, where to be able to click that button to say sign me up. So that's where systems come in. Your marketing obviously has a big effect on that and visibility, but it's not because you're not good enough, because being good enough was never the problem. So, a little bit for you to think about today. What systems have you got in place? And what strategies? So, again, thank you so much for listening to this week's episode of the Back in the Business Podcast. If you've enjoyed today's episode, I would love it if you shared it. Put it on your story on Instagram, give me a tack at tack, tag at Maybell Tech Agency, or send it to another business owner that needs to be this. And if you've not listened to the previous episodes, go and have a listen. There's my shit up launch framework, which is my freebie. There's more freebies on my website. Go and have a look, go and find the ways you can connect with me, find out exactly what I do and how I help and support business owners with anything, anything that gets their business online. And I will see you next week.