Recurring revenues are the lifeblood of your business.
It does not matter what business model you have right now, what matters is that you make recurring income each month that you can count on and that hopefully, grows with each passing month and year to come.
When you can count on your income growing each month and year, you know you’ve done something right.
The top reasons you want recurring revenue streams are:
Most recurring revenue streams are work that you do once, and keep getting paid for later. Such as eBooks, niche websites, and affiliate marketing. All of these require you to do the work once, and then you can get paid months and years later for your efforts today. Nothing is more fun than seeing money in your PayPal account for something you did two years ago.
Many types of recurring revenue are what is called passive income.
That doesn’t mean you don’t do any work, but it does mean that you can keep earning on the same item. For instance, if you have a niche website or blog, that has some affiliate products, and Google AdSense as the revenue streams it can become almost automatic. Once you get the traffic up to a certain point, if you leave it for say a two week vacation, or a six week period of time off due to birth, death or illness you’ll still make money on the site.