{"id":139748,"date":"2021-05-01T11:00:00","date_gmt":"2021-05-01T16:00:00","guid":{"rendered":"https:\/\/getflywheel.com\/?p=24298"},"modified":"2024-01-12T13:35:35","modified_gmt":"2024-01-12T19:35:35","slug":"build-recurring-revenue-into-freelance-business","status":"publish","type":"resource","link":"https:\/\/wpengine.com\/case-studies\/resources\/build-recurring-revenue-into-freelance-business\/","title":{"rendered":"5 Ways to Build Recurring Revenue Into Your Agency or Freelance Business"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">If there\u2019s one thing that\u2019s frustrating about running a small agency or freelance business, it\u2019s the unpredictable income. Oh, the unpredictable income.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can fall into cycles of feast and famine, going between booked-out for months and scrambling for last-minute work. Meanwhile, as you search for ways to scale your business, you might also be nervously browsing job sites for the new 9-5 you\u2019ll surely have to apply for.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your income is tied to your time, so your earning potential is capped by how much you can work. Aside from raising your prices, finding ways to scale with recurring, predictable projects and revenue is key to your long-term success. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Plus, knowing in December how much money you\u2019re going to make in April makes planning other areas of your life way easier. For example, planning a vacation for months away is terrifying when you don\u2019t know yet where your income will be coming from that month.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/cathryn-lavery-67852.jpg\" alt=\"layout by flywheel recurring revenue freelance business woman writing in planner with coffee and snack on wooden table\" class=\"wp-image-24731\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">So how do you diversify your income while playing to your existing strengths?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here are a few ways you can boost your agency or freelancing business by adding recurring revenue products and services.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What\u2019s Recurring Revenue (and Why do you Want It)?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noopener noreferrer\" href=\"http:\/\/www.investopedia.com\/terms\/r\/recurringrevenue.asp\" target=\"_blank\">Recurring revenue<\/a> is the part of your business income that repeats from month to month. New clients or customers pay on a recurring basis, usually monthly, instead of just a one-time purchase.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This can take the form of many different business models. Products and services can be structured around a monthly subscription or membership fee. You can offer retainer packages for services. You can even switch your existing freelance packages over to a more spread-out payment plan so that income from those clients is recurring over time. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why does this matter?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Working project-to-project can be notoriously unpredictable, and the experience of losing a client on short notice often teaches us to diversify our income ASAP.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But a lot of the go-to tactics for that, like creating a product or second business, can take learning a bunch of new skills.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adjusting and supplementing your services so that they build in more recurring revenue lets you work with the skills and clients you\u2019ve already got.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The recurring revenue strategies I\u2019m going to talk about all work well as supplements or add-ons to larger freelance web design work and can take advantage of the branding, assets, and contacts you\u2019ve built in your business already.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Offer Website Maintenance Packages<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The most common recurring revenue package you\u2019ll see with web designers is probably monthly retainers for website maintenance. In fact, this is the whole model for <a rel=\"noopener noreferrer\" href=\"https:\/\/wpcurve.com\/\" target=\"_blank\">WP Curve<\/a>\u2019s entire business:<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"https:\/\/wpcurve.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/wpcurve.jpg\" alt=\"layout by flywheel recurring revenue freelance business wpcurve website screenshot\" class=\"wp-image-24726\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">There are lots&#8230;and lots, and lots, and lots&#8230;of people and businesses out there who are intimidated by their websites. This can range from people wanting to outsource more complicated website tweaks between full redesigns to people who don\u2019t ever want to have to log into their WordPress sites.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That means there\u2019s a large range of services you can include in this package, most of which will be easy tasks for you. They\u2019re just scary to those less familiar with WordPress. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Your services could be as simple as offering:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Website and content updates (where they send you content to put live\/update)<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Plugin updates, installations, and customizations<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Performing regular site backups<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Small design tweaks (putting limits on time or intensity required)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For a small monthly package offering simple services, you\u2019ll be able to take on a larger number of clients per month. This revenue model works well because you can perform the work in bulk, quickly, and schedule it around your bigger projects. You can set aside a set window of time each day, or one day per week, to do work on all of your maintenance clients at once.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/bench-accounting-49908.jpg\" alt=\"layout by flywheel recurring revenue freelance business man wrapping brown paper package at work station\" class=\"wp-image-24732\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Plus, a maintenance package is a great upsell to site owners after they\u2019ve worked with you \u2014 once you\u2019ve finished their website, you can offer to update and maintain it every month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Or, if someone hasn\u2019t worked with you on a larger project yet, site maintenance provides a strating point fo ryou and the client to see how well you get along and work together. If a current maintenance client then needs design work, you\u2019ll be at the top of their mind and have an established relationship already.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Offer a Resource Library Subscription<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We end up creating a lot of content for our businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First, there are all of the assets we use in our client processes, like surveys, video tutorials, and checklists. Then there\u2019s any marketing content we create, like emails, blog posts, or free training courses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Then there\u2019s things we create to make our own jobs easier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why not bundle these up and offer them to others? Then offer a monthly subscription for access. You can include things like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Free PDF worksheets made from client questionnaires<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Video trainings you\u2019ve recorded for clients or team members<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Exclusive blog posts, emails, or articles sharing insider tips<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Members-only webinars or Q&amp;As \u2013 some kind of access to you<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s what Lauren Hooker, web designer at <a href=\"http:\/\/www.elleandcompanydesign.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Elle &amp; Company<\/a>, does with her subscription service, <a href=\"http:\/\/www.elleandcompanydesign.com\/library\" target=\"_blank\" rel=\"noopener noreferrer\">The Library<\/a>:<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"http:\/\/www.elleandcompanydesign.com\/library\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/library-edit-1.jpg\" alt=\"layout by flywheel recurring revenue freelance business library website screenshot and link\" class=\"wp-image-24745\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">While she takes care of web design, this service offers clients and customers help with other areas of their business, like branding, finances, and organization.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Resource libraries can also be a great tripwire or a smaller, low-priced offer that\u2019s easy for people to say \u201cyes\u201d to. Once someone has bought the smaller offer from you and you\u2019re building trust and loyalty with them, you can easily upgrade them to design clients later.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You can also create resources that appeal more to past or current clients \u2014 the options are endless depending on what part you want the library to play in your business!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Plus, resources can scale. Unlike website maintenance, which still ties a certain amount of time to each retainer client you take on, the resource library is more of a digital product than a service.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you have five or 500 members paying you, offering a resource library takes pretty much the same amount of work each month. So as that part of your business revenue grows, your time spent on it doesn\u2019t have to.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Offer Ongoing Consulting Calls<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Another way to offer existing services to past clients or prospects is through ongoing monthly, bi-monthly, or weekly calls with businesses to discuss their website or digital strategy.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/linkedin-sales-navigator-403997.jpg\" alt=\"layout by flywheel recurring revenue freelance business man in sport coat talking on iPhone through headphones on white rail balcony\" class=\"wp-image-24733\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">You could even branch out with additional topics like online marketing or helping other web designers establish their careers. It depends on where you want this to fit into your business and where your expertise lies, but it could look something like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Consulting a less experienced, in-house designer with overall strategy behind smaller changes<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Helping a business optimize websites for conversions (CRO)<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Offering advice on marketing or social media strategy<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Making recommendations for ad campaigns<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Helping aspiring freelancers establish their careers in your footsteps<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For example, if you want to position consulting as a service for existing clients once their web design is finished, you can recommend ways to promote their site and help drive new business, and, you get to show off your finished product in the process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From there, you could schedule ongoing calls to discuss and make recommendations on the client&#8217;s overall digital strategy, leading people to and converting them from their websites.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Strategy work can scale well because you can increase prices as your expertise increases, similar to your other work, but the time output won\u2019t increase. This is unlike improving your design expertise, which is often used for more complex and time-consuming work.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Because of this, Jake Jorgovan of <a href=\"http:\/\/www.outboundcreative.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Outbound Creative<\/a> was able to <a href=\"http:\/\/millo.co\/how-i-went-from-project-based-work-to-8-5k-in-monthly-recurring-revenue\" target=\"_blank\" rel=\"noopener noreferrer\">build his business up to $8,500 per month in monthly recurring revenue<\/a>. Although he phased out project-based web design work in the process, you can of course use strategy consulting to supplement your project-based clients instead.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"http:\/\/millo.co\/how-i-went-from-project-based-work-to-8-5k-in-monthly-recurring-revenue\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/millo-edit.jpg\" alt=\"layout by flywheel recurring revenue freelance business millo screenshot\" class=\"wp-image-24743\"\/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">4. Resell Subscriptions or Become an Affiliate<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Next up is reselling subscriptions for things like website hosting or becoming an affiliate for website-related tools and services. This branches out a little more from providing services and resources, but it can easily fit within your current business anyway.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For web designers, the easiest place to start is somewhere like reselling <a href=\"https:\/\/wpengine.com\/\">web hosting<\/a>, where you purchase hosting services in bulk at a discount, and then resell it to your clients.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, you can become an affiliate partner for other tools your clients might need. This way, when you refer customers, you get a commission, and it\u2019s less involved for you than reselling.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some, but not all, affiliate programs offer recurring revenue payouts. Specifically, tools with monthly subscriptions often have a recurring commission structure, so you earn a monthly commission for as long as a referral remains a customer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You could then promote these services on your website and social media, recommend them to clients, and more. Some tools a business might need for their online strategy include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>WordPress plugins and services such as backup tools<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Email marketing software<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Social media marketing software<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Graphic design tools<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Project management software<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>E-commerce platforms<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">I\u2019ve personally used affiliate marketing to build up several hundred dollars more of recurring revenue each month, and only added the income stream to my business earlier this year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Offer Payment Plans on Existing Services<\/h2>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/getflywheel-images.s3.us-east-2.amazonaws.com\/uploads\/2017\/10\/handful-of-cash_4460x4460.jpg\" alt=\"layout by flywheel recurring revenue freelance business man holding American cash currency\" class=\"wp-image-24734\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Lastly, a recurring revenue model you could implement in about 15 minutes is simply changing your current payment options to include more and longer payment plans.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This will only make sense with your specific service packages to an existing extent. For example, working with a client for one month with an eight-month-long payment program sounds logistically risky.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But if you only have payments for longer-term projects broken up into two or three payments, consider breaking them up further.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This isn\u2019t necessarily adding a new source of revenue to your business, like the other options discussed in this post, but for lots of us, that\u2019s a good thing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s simple, easy to implement, makes your existing income more steady and predictable, and it can make things easier on prospective clients. The details of a payment plan may be the difference between a yes or no with a prospect who likes your work but is on a tight budget.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u201cPay it Again, Sam\u201d<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Recurring revenue is key to adding more predictability and stability to your design business without throwing the whole thing through a loop.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You don\u2019t have to learn how to create and sell products.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You don\u2019t have to start a second business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">All you need to do is leverage the services you\u2019re already performing and the relationships you already have for a little bit of extra work per month.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A Suite of Tools for Agency and Freelancer Growth<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Are you looking for another way to grow your agency business and build MRR? <a href=\"https:\/\/wpengine.com\/flywheel\/\" target=\"_blank\" rel=\"noreferrer noopener\">Flywheel Growth Suite<\/a> was built specifically for agencies and freelancers who are ready to break out of the project-to-project mindset and take their business to the next level. Check out the video below to find out more: <\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-video is-provider-wistia-inc wp-block-embed-wistia-inc\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\"><div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\"><iframe loading=\"lazy\" title=\"Introduction to Flywheel Growth Suite DEMO Video\" src=\"https:\/\/fast.wistia.net\/embed\/iframe\/duvx7clry3?dnt=1&#038;seo=false&#038;videoFoam=true\" allow=\"autoplay; fullscreen\" allowtransparency=\"true\" frameborder=\"0\" scrolling=\"no\" class=\"wistia_embed\" name=\"wistia_embed\" msallowfullscreen width=\"100%\" height=\"100%\"><\/iframe><\/div><\/div><script src=\"https:\/\/fast.wistia.net\/assets\/external\/E-v1.js\" async><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Flywheel Growth Suite is your virtual assistant, keeping track of all the billing, site maintenance, and client communication aspects that power your creative business forward, allowing you to to spend more time on the important stuff. Ready to get started? <a href=\"https:\/\/wpengine.com\/flywheel\/\" target=\"_blank\" rel=\"noreferrer noopener\">Find out more here.<\/a> <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"> <\/h2>\n","protected":false},"excerpt":{"rendered":"<p>If there\u2019s one thing that\u2019s frustrating about running a small agency or freelance business, it\u2019s the unpredictable income. Oh, the unpredictable income. You can fall into cycles of feast and famine, going between booked-out for months and scrambling for last-minute work. Meanwhile, as you search for ways to scale your business, you might also be<span class=\"tile__ellipses\">&hellip;<\/span><span class=\"tile__ellipses--animated\"><\/span><\/p>\n","protected":false},"author":1,"featured_media":140800,"template":"","resource-topic":[908],"resource-role":[895,897],"resource-type":[916],"class_list":["post-139748","resource","type-resource","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Ways to Build Recurring Revenue Into Your Agency or Freelance Business<\/title>\n<meta name=\"description\" content=\"Stop relying on unpredictable income and instead, build recurring revenue streams into your business. Learn how to get started here!\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways to Build Recurring Revenue Into Your Agency or Freelance Business\" \/>\n<meta property=\"og:description\" content=\"Stop relying on unpredictable income and instead, build recurring revenue streams into your business. 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