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Optimized Ecommerce EP 067 – How We MULTIPLY Growth & SUSTAIN Income In Ecommerce!
Welcome to Episode 067 of Optimized Ecommerce – How We MULTIPLY Growth & SUSTAIN Income In Ecommerce! I’m your host, Tanner Larsson, CEO of BGS.
BGS means Build Grow Scale! It is a community that we founded where eCommerce entrepreneurs and physical product sellers come to learn how to take their businesses to the next level.
Here’s just a taste of what we talked about today:
Tanner discussed the meaning of Continuity Income and why your ecom business needs continuity.
Continuity Income is revenue earned on a ‘residual’ or ‘ongoing’ basis after the first sale. This income comes in automatically on a scheduled plan.
The following are the reasons why your ecom business needs continuity:
- Ecommerce is a tough business.
- Most ecom businesses are cash poor.
- Most ecom businesses have unpredictable income.
- Most ecommerce businesses start at zero every month.
Adding continuity to your business solves all the problems that are stated above.
And then, Tanner also talked about how to run a continuity program in your ecom business.
Important note:
- You do not and should not try to become a subscription only ecommerce company.
- It is far easier and more profitable to incorporate one or more continuity streams into your business while continuing to sell existing products.
- You should make continuity as a recurring revenue which is the focal point of your business.
Recurring Income Core:
- Should be the primary profit center in your business.
- Focus all your marketing and sales efforts into funneling people into your continuity program.
- Restructure your business if necessary.
- This is a long term play that will ultimately result in more money and less stress.
Types of recurring income core:
- Consumable subscriptions
- Subscription boxes
- Digital membership
- Newsletters (physical or digital)
- Buyers club
- Associations
- Micro continuity
We also discussed a few other fun topics, including:
- 3 styles of recurring income core.
- 3 best ways to sell your continuity program.
- How can you implement a continuity program in your business?
But you’ll have to watch or listen to the episode to hear about those!
How To Stay Connected With Tanner Larsson
Want to stay connected with Tanner? Please check out their social profiles below.
- Facebook Profile: Business.Facebook.com/BuildGrowScale
- Twitter Handle: Twitter.com/BuildGrowScale
- YouTube Channel: Youtube.com/user/windowsuccess
Resources
Also, Tanner mentioned the following items on the show. You can find that on:
