I was talking with one of my coaching clients this month about the importance of recurring income.
You have to have some consistent income in order to avoid the rollercoaster of unpredictable cash flow.
One month you launch a product and you get a huge influx of cash. The next month… not so much.
This can create a sense of panic followed by relief, followed by panic again. It's definitely neither healthy nor happy.
So, the goal is to make that you have a BASE income that is coming in – to keep you sane and comfortable (and make sure you can pay your helpers and your affiliates). My personal goal is that everything above that is gravy. 🙂
One way to do this is to start your own membership site, whether a Fixed Term type that runs for X amount of time and is then done. Or an ongoing one that runs forever….
And, there are plenty of different models to use to do this. You can offer information, software, or a service – each of these will work.
There are other ways to get recurring income
without having to do all of the work yourself.
For instance, you can promote products or services, as an affiliate, if they offer two things.
1. Lifetime tracking of a bunch of products.
2. Recurring income that gets billed monthly.
Then, not only is the income recurring, but it's pretty passive as well. You don't even have to deliver the goods. Someone else is doing it for you. (ooooh…. ahhhh…. )
Let me show you a few examples of programs like that.
NAMS Affiliate Program. (Recurring Income & Lifetime Tracking)
First up. This is a screenshot of my affiliate stats from promoting the NAMS membership last month.
As you can see, I had several transactions. But, the interesting thing is that this the membership is recurring – so many of those sales were from referrals that I'd made months and months prior. AND, many of them are for orders that will continue to pay me for years to come.
Do I have this many transactions every month? Nah. But, many of the members do pay month after month after month, so I do have a “base income” from recommending NAMS.
Plus, every January and August, I see a spike of higher sales when the live event (the Workshop in Atlanta) happens and people purchase tickets for the following workshop (since so many are repeat attendees).
Want to see what exactly NAMS is? Here's a video.
And, the best part? It's a great value – otherwise, I wouldn't be promoting it!
- Check out what's included here: What is NAMS?
- Join the Affiliate program here: NAMS Affiliate Program
Yummy PLR. (Recurring.)
One of my programs that offers a recurring payment is YummyPLR.com. Hint, hint. Be my affiliate! (Subtle, eh?! lol)
And, as much as some people don't like Clickbank, I love it for two reasons.
1. As an affiliate, it's a great way to diversify your dependence upon Paypal because you get paid either by check or direct deposit into your bank account. So, worse case scenario, if you lose your Paypal account, you will still have your Clickbank deposits to live off of during the interim.
2. You are guaranteed to get paid and don't have to track down your affiliate payment from someone who spent YOUR affiliate earnings – which is money that was not theirs to spend. (Don't get me started on that one…)
So, I like to promote some stuff on Clickbank.
And, one of my programs on Clickbank that has recurring commissions is this.
So, if you reach bloggers or foodies – this may be another program to promote to earn some recurring revenue.
- Check out what's included here: What is YummyPLR?
- Join the Affiliate program here: Yummy PLR Affiliate Program
There are tons of programs like this that can help you to get a base income so that your cash flow isn't taking you on a rollercoaster ride.
Here are a few more that pay monthly…
What if you are in a Niche like Fitness?
If you're in a niche – like fitness, you can go to Clickbank.com and search their marketplace.
Just click on “Recurring” when searching and it will show you only ones that earn you money beyond the first payment.
For instance, these would show up:
Of course there are plenty of other ways to get recurring income, but I hope this has got you thinking about what you're promoting and how it's affecting your cash flow.
Please share your questions below.