Recently Erik and Katya were talking about how great monthly revenue is as opposed to the other means of billing clients like hourly or project-based.
Before starting with monthly recurring revenue, Kevin and Erik had no way of projecting out to the future. When they were working on projects, at some point it would go down to 0 eventually but your expenses continue to increase because you have all these people working for you and expecting a raise.
Recurring revenue gives you the ability to track how much revenue you get each month and you can then project out into the future. With recurring revenue, you can plan, budget, forecast, and see into the future.
Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.
Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.
For more information on the show, and to check out past episodes, go to journeyto100million.com!