Make Recurring Income From Services
When you get involved in freelance writing, virtual assistant work, graphics work, or another kind of web-based service, it’s easy to feel like a hamster in a wheel. You have to keep going if you want to earn money. If you don’t perform, get new clients, and constantly step up your game, you don’t earn.
That’s the downside of services. But, there are certainly many upsides. Services are very much needed. It’s important that there are good service providers out there like you. Smart business owners will keep you in business.
Still, it’s hard to get away from the fact that you’re trading time for money. You dream instead of having recurring income. That would give you a bit more security and comfort and allow you to scale your business up in major ways. You wonder—is that even possible when you’re a service provider?
Sure, it’s possible. It’s not something most service providers focus on, maybe because they don’t realize it’s a possibility. Not only is it possible, but many of the people who hire you will actual prefer it.
That’s right—business owners need and want things to be as hands-off as possible. If they know they can rely on you and trust you, they’ll definitely want to hire you and pay you on a recurring basis.
Maybe you already have repeat clients. They hire you again and again because you do such a good job. That’s fantastic, but there isn’t security in that. Even some of your best and favorite clients get busy, try new service providers, neglect to hire someone even when they need to, and so on.
So, how do you get recurring income from services? It’s actually pretty simple. You’re going to set up monthly packages of services that business owners can sign up for. Every month, they’ll be auto-debited (or pay manually) for the package they’ve selected. Other than some communication on each month’s assignment, you’ll do the work and deliver it like clockwork.
The difference here between having a repeat client and a recurring income is the monthly agreement you’ll have in place. You won’t have to wait for them to come back and hire you, because they’ve already hired you for the future.
This is great for the client because they get the work they need without the fuss of dealing with different freelancers. You deliver what they want. You deliver things that help them grow their business. They’ll be happy to pay your going, recurring rate because of the way you deliver and how they can finally scale their business up. They probably haven’t run into anyone offering a monthly package like you’re offering so they’ll be thrilled to scoop it up and keep paying you.
This is great for you because you won’t have to chase new clients all the time. You’ll be able to count on the income that comes in on autopilot. You’ll know what the client wants and respects. You’ll know their business and market, allowing you to work more easily.
Packages You Can Offer
The packages you’ll offer differ depending on what kind of service you offer. Think about what people hire you most often for.
If you’re a writer, people might hire you for articles, books, sales copy, and email copy. You could set up a monthly package where you write three articles, an ebook, and the sales copy to go with it. This is perfect for businesses that thrive on offering nonfiction work and infoproducts.
If you do graphics, you could offer a monthly package where you create viral images, updated social media headers, and a book cover. Come up with different packages that will suit your best clients.
If you do virtual assistant work, you can offer a package where you do data entry, articles, customer service, and the odds and ends you know your clients need.
Come up with packages at a few different levels. Some people might want a minimal amount of recurring services. Others might want a huge package where you do a lot for them.
Depending on who hires you and which packages they select, you might take on just a few clients or even just one client.
Making Your Packages Known
Now that you’ve decided which packages you’ll offer, it’s time to make your packages known. Don’t be shy about this. Clients won’t hire you for recurring services if they don’t know you offer them.
Make it clear on your website. Put clear “buy” buttons next to your packages or give extremely clear instructions on how they can book their spot for monthly recurring services.
Let your current clients know. Many will be happy if you send them a short email letting them know that you’re expanding your offerings and offering recurring services for their convenience. Indicate the discount they’ll get if they sign up for a package, if that’s applicable.
If someone hires you for a couple of small jobs, point them toward a package they might be interested in. This upsell might be exactly what they were looking for.
Don’t be pushy, but don’t be shy either. Be very clear about what you’re offering. You might want to offer an a la carte package where clients can pick and choose exactly what you do for them each month.
This goes without saying, but the only way clients are going to stay on and pay you on a recurring basis is if you truly deliver and make them happy. They should feel that they are getting a major benefit… not only are you delivering exactly what they want and need to grow their business, but it’s also easier and less stress for them.
Ramping Up Your Income
Develop systems for the services you provide. The more efficient you become, the more recurring income you make.
Work to improve your skills, speed, efficiency, and creativity. If you can offer something no other service provider offers, you can certainly ramp up your income.
If there are parts of the service that you’re offering that don’t need your personal touch, perhaps you can outsource that particular service. You’ll still be responsible for the timely and efficient execution of those tasks, of course, but your client is more interested in the bottom line… that the task gets done, and that he/she knows who to contact if there’s a problem (you).
The fact that someone else under your control is doing part of the job really doesn’t matter as long as the quality is what the client is accustomed to. This will really allow you to scale up your business and your income.
You can truly turn your business into something that’s truly premium. You can have waiting lists of those who are waiting to pay you recurring monthly income from services because you’re so highly in demand.
Set It Up…
Now’s the time to set this up. You don’t have to chase clients anymore and wonder where your income is going to come from. Set up packages clients can hire you for on a monthly basis. You’ll get recurring monthly income you can count on. This can give you a lot of peace of mind, a bigger bank account, and a great reputation as a service provider people can count on.