What Pandemic? How to Make 2020 Your Best Year Yet
There’s no doubt that the coronavirus pandemic has negatively impacted our economy in a multitude of ways. Many workers have been terminated or furloughed, unemployment has been at its highest since the Great Depression, and even the businesses that have been able to remain open have faced unprecedented changes, struggling to stay afloat.
It’s easy to understand why this time has been overwhelming – if not devastating – for millions of Americans. But as we continue to face a landscape of uncertainty, it’s important to understand that the disruption to our businesses as we’ve known them can actually be an opportunity to grow more than ever before. After all, it has been done many times before.
Help May Not Come Soon Enough
While the government continues to offer unemployment compensation, small business loans, and more financial tools, there’s no telling if – and when – you will actually see that money. While we can’t go back in time and better prepare for this particular time period, we can look forward in an effort to protect ourselves against future economic disturbances and trials.
Rather than react to a down market, business owners can become proactive and prepare to take control of their financial futures. Since many won’t take this time as an opportunity to strategize, re-imagine, and plan ahead, if you do you’ll already be ahead of the game.
The Secret May Lie in Recurring Revenue
For many who are struggling, the answer may lie in building recurring revenue streams. By utilizing streams of recurring revenue online, such as SaaS (software as a service), and subscriptions or maintenance, businesses are able to grow immensely and generate positive cash flow. Rather than hoping for a good month, a good quarter, or a good year through one-off sales, recurring revenue, which is a stream of expected periodic sales, is predictable, stable, and highly dependable. By changing your revenue stream, you can build more security.
The Recurring Revenue Lab
As a result of the pandemic, and in an effort to help companies to turn their situations around during this difficult time, I launched the “Recurring Revenue Lab to help people see their way through this trying time. As an experienced business coach, I offer participants the opportunity to access relevant resources, including the support of professionals, and discover how changing your business model can change your life.
The Recurring Revenue Lab focuses on a practical curriculum that educates on the fundamentals of recurring revenue online and asks participants to think about which opportunities may be right under their fingers. Combined with 1:1 coaching, and group brainstorming, transforming your business for success is not only possible, but is also probable.
In addition to businesses, non-profits and religious organizations are benefiting from reinventing their financial models. In fact, the Lab is tailored to fit the needs of the organization itself.
The Recurring Revenue Lab mastermind meets virtually bi-weekly. If you are interested in changing your business to change your life, join us.
For more information, visit www.recurringrevenuelab.com