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Carolyn Sevos Hamilton got tired of chasing after “a project here; a project there” and found a way to put recurring revenue into her business. But it’s easy to focus on the wrong opportunities. In this interview, we talk about how you can identify the more promising outlets for this kind of valuable income stream.
Episode Highlights
- Finding recurring revenue streams—what ongoing value does your company offer? And what do your customers need? It’s both an organic and a strategic process.
- Different recurring revenue models, such as maintenance contracts, service agreements, and licensing options
- The opportunities in building “vertical” services
- The internal systems (and emotional resilience) you want to have in place to manage vendors relationships
- “Don’t chase squirrels”: not every client problem contains the seed of a recurring revenue solution
Carolyn Sevos Hamilton is the award-winning President & CEO of IntraCommunities, Inc. (ICI), a full service web consulting firm specializing in high availability and high security sales systems and web applications. She has helped many small to mid-sized businesses, non-profits, and unions to expand their services online. As an R&D exercise, she took her software and web application development skills and put them to use in a fun, new consumer product–YouCake.com–an online service to custom-design edible toppers that can be applied to any frosted cake, cookie, or cupcake.
Favorite Quote
- “Don’t chase squirrels.” ~ From Up (2009 film) Click to Tweet!
Interview Links
- carolyn@sevos.com; (212) 358-7791
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