The Power of Recurring Revenue

In this episode, Mark and Benjamin interview Steve Schramm, the founder and CEO of Pro Membership Sites. Steve shares his journey of transitioning from a day job to starting his own business and the importance of building recurring revenue. They discuss the benefits of subscription-based models and how to monetize knowledge and expertise. They also touch on the importance of execution and providing value to clients. The conversation explores various strategies for creating recurring revenue and building a successful business. In this part of the conversation, Ben and Steve discuss the sales process for selling recurring revenue services, objections they encounter, and the importance of storytelling in selling. They also talk about contract minimum engagement and optional redesigns, as well as the language and terminology used to sell the subscription service. They touch on the onboarding process, staying in touch with clients, and the value of proactive communication. They also discuss the challenges of scaling and managing a large number of clients. In this conversation, Steve Schramm shares his insights on communication and the use of Basecamp in his web design business. He emphasizes the importance of radical over communication and how Basecamp facilitates that. He also discusses his approach to hiring contractors and creating a remote team. The conversation touches on pricing strategies, including value-based subscription and add-ons. The key takeaways include the power of storytelling in sales pitches, the significance of communication in web design, and the importance of measuring the gain rather than the gap in personal and business growth.

• Measure the gain in your life and business, rather than focusing on the gap from where you want to be

• Communication is a crucial aspect of web design and can be a differentiator in any industry

• Efficiency and solid processes are essential for scaling and maximizing profitability. Selling a recurring revenue service is often easier than selling a one-time sale, and objections are usually minimal

• Storytelling is a powerful tool in selling recurring revenue services, as it helps to address objections and make the sales message more relatable

• Proactive communication, such as quarterly strategy calls, helps to maintain a strong relationship with clients and identify opportunities for upselling