Why Monthly Recurring Revenue Isn't Always Good For You
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- เผยแพร่เมื่อ 9 ต.ค. 2024
- Monthly recurring revenue is when you get paid every month for a service that you provide. And while it might sound great, the truth is that there are some drawbacks to this type of revenue model for many agency owners.
Watch and learn what they are so you can make an informed decision about whether or not it will work for your business!
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Great video. I currently work on a project basis and would like to find a good way to move to MRR, so I'm eager to hear how to do it right. I have always been concerned about ending up being treated as an employee (been there), losing my main retainer clients with little-no notice (been there, too), and of course, scope creep. I'd like to stay relevant and valuable for my clients, but highs and lows with revenue take a toll, too. Looking forward to the next video.
You’ll like the next few on this topic
You obviously know the exact pain points of running an agency. Great video.
When will the next video drop?
@@LewisMudrich Next Thursday. :) And yes, over a decade in, running and now serving them. :)
I think this is the best I've seen you articulate this yet! Good one Greg. Thanks
BTW, the MRR I'm selling on the backend of my productized service are much nicer to work with than selling direct to recurring. Thanks for that!
@@ChrisPenny101 Thanks! Appreciate that. Always working on it and yes, it's funny how the front-end experience can create a better client for the backend. :)
Love this. Keep it coming....
Great video Greg. One question for a future video:
I agree that most agencies are more valuable to the owner as cashflow businesses versus an acquisition/exit. The multiples just aren’t there in most cases.That said, how do you think about maximizing a valuation of an agency when your agency is 100% project based? Showing repeat purchase behavior.. anything else?
Great question, added to the queue! :)
Been planning some content but short answer - I don't think an agency should ever be 100% project-based :) Not for this reason alone but some will be acquired for talent or other assets, possibly a large or valuable customer list, media channels, tech, people etc.
Do you use a Pay Per Lead format as well or maybe a hybrid of the two?
We're not a lead gen business so we don't. We're a Professional Training & Coaching business for agency owners, freelancers and service providers.
We've had many clients that sell lead gen and some choose the pay per show model (vs lead) and others have chosen other revenue models.