Aug 15 (edited) • General discussion
How my team and I use this recurring revenue to drive change
As a first principle that I use every day is that recurring revenue comes from delivering recurring impact. If theres no benefits being consumed, a member churns out.
This is something I repeat all the time in each weekly meeting I have with my team. And to be customer focused, you need to repeat internally how the customer and their results is central to how the business works.
As another framework that helps me immensely is that there are layers of KPIs you can measure, the earlier are easier to control and change and the later is what we want, but we can't just "will" $100k/mrr businesses, but we can input the resources to get there.
So when I write goals, to improve the impacts, I see what things I am lacking or need to improve.
Input, Activity, Outputs, Outcomes, and Impact (And all of this can be seen as a chain of stages of cause and effect to get you what you and your members want sooner)
Inputs are resources you or your organization has, hours, cash, manpower, mental energy. I map these to my wellness wheel, and a business's inputs are just the sum of what its people can contribute.
Activities are the actual things you do, like for making content you write and post. This is multi stage. Often a lot of writers like me have lots of finished drafts.
The output is what comes at the end. The content thats posted, or a new course video up, etc.
Outcome is what change this produces, usually a leading metric to MRR. More content means more clicks per day to the business. Which this means more clicks they should convert into sales, and recurring revenue.
And IMPACT is the end goal.
For example, I have a fuck ton of content drafts of scripts for youtube (Activities and partial outputs) but its not driving any output, and thus not diving any impact.
So what this helps me is come up with HOW to change. So I'd spend less input and acitivty scripting ,and more time on editing and posting.
As a result, I am now posting (lol) instead of communicating what works a bunch of 1 on 1s with clients and friends.
Now one bigger distinction -- and what took me way too long is that IMPACT is the end goal, this is split in two areas and we need to know what it is to make it make sense.
Its either rational or emotional. And a product or improvement when I make it, needs to check off and articulate what it does. If I don't think this through, I lose sight to WHY i'm doing the thing.
Like if I improve the product in the community, I think through if it maximizes or minimizes something for someone.
Its usually rational: Does it make me more profit by getting more revenue or make me spend less.
Or its emotional/social: Does it make me feel better, perform better, be seen as better, e.g. my wife goes from annoyed whenever I talk about business to excited and supportive because I crossed $10k/mo mrr and she's no longer anxious anymore.
So I had this discord community that we launched in 2021 for $280k. And before we were doing whatever, but as soon as we asked people WHY they came in (most just wanted consistency, good vibes and anime friends) we curated news, events and discussions and it made people refer in others so we launched.
That said, what is the impact do you create for your community? What do you obsess over and track every day?
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How my team and I use this recurring revenue to drive change
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