Ever wondered how you can earn more money from your business, while working less?
Dean Patino says the secret is: SUBSCRIPTION REVENUE. Find out how Dean works his revenue alchemy, in this episode.
Dean Patino is the man behind The Recurring Revenues Podcast, and he helps entrepreneurs create, market and sell subscription products. He also manages Fire Nation Elite, the exclusive mastermind, in partnership with John Lee Dumas. Dean practices what he preaches with his own recurring product, Dollar Baseball Club.
According to Dean, subscription revenue is that automatic pay day you can count on as an entrepreneur, with revenue coming in for some type of product or service that youre offering. They are revenue streams that give you predictability in running your business, which is an important component to being successful.
There are more people subscribing to offers today than ever before, and the model is continuing to grow.
Dean studied the Forbes list of the wealthiest people in the world and found they more often than not, had recurring revenue in their businesses. As well, the 6 and 7 figure a month entrepreneurs he looked at had recurring revenue streams.
Consistency in revenue is the common denominator
Subscription systems date back to the 1600s, but have exploded because of the online world and what can now be offered.
You can do subscriptions for just about anything today. When you have Presidential candidates offering prescription boxes, you know its mainstream.
For coaching, the simplest method is an email subscription service, where clients can submit questions and receive answers, as well as guides, training products and more. Dean has his own program called The Recurring Revenue Concierge.
He feels that anyone who is successful in life has a coach to help them.
When creating a membership site, you have to determine what value youre going to offer and what platform you will be using. He recommends using private Facebook groups, and to provide additional resources through a website for members.
With subscription boxes, people can get something delivered to their home at a really low cost. Some examples of this type of service are Dollar Shave Club and Birchbox.
TV Show: Andy Griffith Show
Family Tradition: Pizza on Friday nights
Most Embarrassing Moment: cant think of one!
Memories with his own kids: school events (sports and music)
#1 Job as a Dad: to be a supportive role model and live by example