Adding Recurring Revenue to your Small Business

The Small business show episode 212 for Wednesday, February 27, 2019. Greetings, folks. Welcome back to the Small Business show here at BusinessShow Co the show BFA Small Business. Sponsors for this episode include AbbyConnect.com SBS and Textexpander.com podcasts. Podcast that is. We'll talk more about those in a little bit. For now, here in Durham, New Hampshire, I'm Dave Hamilton and out of the.

West coast where the rivers are rising but the rain has stopped, so we're okay.

That's good.

This is Shannon Jean. Yeah, yeah. How are you, man?

I'm good. Crazy. But you know, it's all upward and onward and hopefully everything's upward and onward except the water levels for you. So.

Yeah, yeah, I think, I think we're passing snow. It's been like snowmageddon up in Tahoe. You know, they had another like I think four feet. So definitely broke all the records. Wow. Within a time frame of how much snow they've gotten up there. It's been crazy.

That's crazy. Bad years snow than we've gotten. Like you got. Yeah, yeah.

I mean they got. I think it was either last weekend or maybe we can. For seven feet over a three day period. That was like at the lake level. I mean it was crazy. Wow. Yes.

Yeah.

No, not even on the mountains. So they'll be, they'll be skiing up in tahoe on the 4th of July for sure. That's always. Yeah, it's always a trick. You ski the lake and then you go ski the mountain or vice versa.

Right, right, right. Yeah. My wife told me about a childhood memory of hers where she did exactly that. So.

Yep, that's pretty cool. That's good. That's good. So, hey, today on the Small Business Show, I thought we would talk about something near and dear to my heart that I've been moving a number of my businesses towards for a while now. And that's recurring revenue, you know, monthly re. Mailbox money.

The holy grail of small business, I think. Yeah, yeah, I do too.

And you know, you see it more and more. Any, anytime there's a business that has a significant subscription base or subscriber base, they also become a target. You can look at companies out there now disrupting a lot of traditional, you know, monthly income streaming businesses. I just put a new alarm in my house. You know, I was paying 40, 50 bucks a month for monitoring and these companies are like, hey, we can you put the alarm in yourself? And it's 10 bucks a month. You know, this kind of thing.

Yeah. You know, normally I don't like jump us on tangents like this, but I found speaking of disruptive companies for exactly that there's this company called Hub6 and I'm trying to think of what the name of their product is off the top of my head, I can't remember. But it's. Oh, it's safe by Hub6. What it does is, is you, you know, you have your ADT alarm system or whatever that they put in or whatever and you've got all the wiring and all that stuff and you are saddled with paying someone. Look, I say that that recurring revenue or is the holy grail. It's, that's if you're in business, but if you're paying like yeah. And, and they kill that off. But use the infrastructure that's already in your house and, and you don't have to pay them a monthly fee. You can. And they, there's more to it if you do. But really, I see. Sure. It's built so that you don't have to. So I'll, I'll put a link in the show notes to that. Yeah, it's, you know, I go to these shows and learn about kind of new products sometimes and that's one of them that it's just like, okay, yeah, if we're talking about it, I gotta, I gotta mention something. So.

Yeah, that's cool. Yeah. And so I thought we would talk today, you know, about ways to add recurring incomes to your business if you're not already doing it, you know, via just so many different ways to do it. But you're going to get in addition to that monthly revenue, you kind of create this lasting relationship with your customers which is just different if you're selling a one time product or one time service and you're going out. So. And it could be anything from obviously there's the subscription model, you know, whether it's a product or services, because lots of products are sold. You know, you go to Amazon and want to buy something, it says, hey, if you set this up on your pantry where it delivers on a regular basis, you're going to get a little discount. You know, they're motivating you to do that. Memberships and a few other things that we can talk about. So let's start and let's talk about the first one which I like is service plans. So if you're selling products, you know, that maybe need support, need service, whether you know it's a tech product or something else, you really ought to look at offering even a third party service plan, like a square trade or something that you could become a dealer for or doing it yourself. Now states have different rules or, you know, things about warranties and how, what kind of insurance you may have to have.

I was going to say, because you're almost in the insurance business if you're doing this right. You know, I mean, like, let's face it, the, the insurance, the, the whole idea of that business is that you send them, you know, or they send you. It depends on who's in business. Right. But it, you know, insurance is collecting recurring revenue for a service that both parties hope to never need to provide. Like.

Yeah, that's right.

You know, it works. Yep.

Yeah, it's great. And so, you know, maybe you get started by selling a third party. There's a bunch of warranty companies that, you know, will allow you to resell their product and you get it, but you kind of miss out on that recurring part of it. But maybe you get your feet wet that way and then look into how you could offer your own, you know, service plan and you're going to add value to it right. To the, to the customer's experience when they're buying that product. I mean, we used to sell thousands and thousands of iPads and we always had a recurring model that would, you know, allow us to keep in touch with the customer. And we offered it as incentives. Hey, we'll, we'll give you the free, you know, one year coverage or two year coverage if you buy X. You know, that kind of thing works out really well.

So smart. Yeah, yeah, I like your, your comment about recurring revenue being relationship based like that. That is the key here to remember with all of the things that we're going to discuss here is you have to develop a relationship with the customer and your recurring plan can actually be the way to do that. But know that that's your job is creating the relationship and tending to that relationship in order for the customer to be happy with the idea that they are continuing to pay you for whatever it is that they're paying you for. Ye, yeah, I agree.

And I think that the secret to it is really coming at it from that, the relationship part, but also from the adding real value to it and trying to present it in such a way as like, look here, we'll do this for you. If you do this, you're going to get some added bonus even on top of this extended warranty or however you're going to do it. There's some, I Think great ways that you can, you know, make it, that make it this whole value proposition.

Yeah, yeah, good, for sure.

Yeah. And, you know, another one is obviously subscriptions. And looking at your business, I think it's, it's easy to overlook how you might be able to convert some or even all of what you're doing to a subscription model. You know, is there a model out there you could well model after and look at other industries like the alarm industry or the, you know, Netflix type thing. How could you, you know, use some of that, you know, planning and how they do sell those subscriptions for your own business? I think that it's important and it's a great exercise to be able to take those different models and apply them to your business. And it gets you thinking in a little different manner how to use that automatic recurring model. And another great thing about it is that it allows you to kind of normalize your revenue. So, you know, it's going to be coming in every month versus big spikes. Even our, our public utilities out here are doing it. Our PG&E, they have a program, you know, where if you jump onto this annual monthly plan that they kind of normalize your rates throughout the whole year based on your historical levels. You know, that's what they want too.

Yeah, I, it would actually be great to get Greg Scown on here from, from Smile, which is actually one of our sponsors here in the episode. But I had a conversation with him when they moved their products, textexpander among them, you know, to a subscription model. And he said, you know, they, they did it. They were one of the first sort of indie software developers to do it. And because of that, it was different. It was a change. They had loyal customers that had been purchasing, you know, upgrades, but only when they only sent them money when there was a new version. And, and so they got a lot of flak for it. Understand?

Sure.

Like, that's just how it's going to go. But, you know, he, he said a lot of these things and he said, look, also for our customers like this, actually, you know, and, and you, and I say it all the time. Every business is the customer service business. And I think folks that succeed know this and, and really embody it. And, and Greg said something to me that, that showed this. He said, look, I really think this is going to be better for our customers because right now we are financially incentivized to hold back features that we develop in order to sell the big upgrade down the road. He says, whereas now that's completely 180 degrees in the other direction. We've got customers paying us whatever it is, every year, every month, however it works out. And he said so we need to keep them happy to keep paying us. That's part of the deal. So now we're incentivized to continually enhance the customer experience throughout the term of what would normally have been just an upgrade cycle, you know, and it's that, that's really interesting. Like there. Yes. You know, I say that recurring revenue is the holy grail and it is for many reasons. You know, you said predictable income and all of that good stuff. But it doesn't mean that it's also like it's not a zero sum game. Right. Customers can win here too. It's not a customer hostile approach necessarily. Some people take that path, but not everyone has to.

Yeah. And there is an education process and I would love to have him on and talk about that transition because I imagine it was not, you know, a walk in the park and now that they're kind of on the other side and it seems to be a much more common, you know, business model for, even for small independent developers. I think it's, it's, you know, good for him. So I'd love to hear more about it.

Yeah, yeah.

You know, and you just look at that. I mean, everybody's doing it, you know, Microsoft text expander, in thinking about it from that perspective and that's how you probably should be selling it to your customer is that, look, we're going to be able to serve you better and really give you more value because we're getting that, that monthly payment. Yeah, yeah, it's cool.

You know, we're talking about textexpander, so I'm going to take a minute. Yeah, yeah, no, it's like it all. I love it when this works. And it's, this is not the only bit of synchronicity that happens in Episode, so. Nice. Yeah. So, you know, textexpander, for those of you who don't know, is a piece of software, but really is a service too. But it's a piece of software that runs on your devices. You can run it on your phone, on your computer and it allows you to take things that you type regularly, that stuff like customer service responses, you know, big long things or short things like your address or emails or you know, maybe directions to your house or directions to your business. Like things that you give people all the time. But you want to, not only do you want to save yourself time, efficiency. Right. But you also want to make sure. Accuracy, right? So instead of pouring through every email, you got to pour through every email only one time, and you make it perfect. And then you store that in textexpander and you invoke it either by clicking a button or you can just type a little shortcut that expands out, hence text expander, and boom. Now you hit have this thing, and you don't even have to reread it because you know you've already proofread it. That's the beauty of this. And it works well for individuals, but it also works well for companies because you can, as said, it's a service. Not only can you sync it amongst your own devices, but you can sync it amongst your entire team's devices so that, for example, Shannon can, you know, perfectly hone his customer service response and know that instantly anybody in his team that's going to send out the next thing automatically has that response on their system. So it really, really works. Accuracy is important. It makes your business look better, and it also improves efficiency. And we are all about efficiency here. So you gotta check it out. Go to textexpander.com podcast and that gets you 20% off of your first year's subscription, which fits perfectly into this episode. So our thanks to Smile and textexpander@textexpander.com podcast for supporting this episode. Now, our second sponsor also fits into the realm of efficiency, and that is abby connect@abbyconnect.com SBS right. You need to make the best use of your time and your staff's time, while also making sure your customers have a great experience. See how well this all fits together. And this way you can grow your business. Right? And what Abby Connect does is they have a team of live receptionists. They're all in the same building, they're headquartered in Las Vegas. That's where everyone is. And these people learn about your business and then they train the receptionist for you so that when your phone rings, Abby Connect can answer it for you. You can go about doing what you need to do. Even if you're out of the office, you've got somebody answering the phone and they're answering it just like they're at your business. They're professionals. They're way better at this than any of us are, because it's what they do, right? We do what we do best. They do what they do best. And here's the cool part. You get this entire team of professional, courteous receptionists available whenever you need them, specifically trained at a fraction of what it would cost to hire Just one full time person to sit in your office and do this job. And the impact that Abby Connect has had on other businesses speaks for itself. Right? They've got tons and tons of reviews. They actually want you to go and read them. Right. This is a good sign. Right? And businesses boost their profitability because of Abby Connect. When your customers feel like you're there for them and you can answer the phone and talk with them, that means a whole lot. So we know that Abbyy Connect will make a strong impact on your business too. And we've worked out a deal with them. So you can get a no obligation free trial with Abby Connect and then after your trial's over, you can get 95 bucks off your first bill. But the only way to do it is at our special URL abconnect.com SBS that's a B B Y C O N N E C T.com SBS abbyconnect.com SPS our thanks to Abby Connect for sponsoring this episode. All right, man, do that free trial.

These guys are really impressive. So you want to hear?

Yeah.

You want to hear how they're doing it?

Yeah, for sure.

Cool, Cool. All right, let's talk about memberships. One of the things I really like is being able to offer, you know, if you can't switch your business model or if you can't think of things with a subscription, you could certainly offer some sort of membership benefit. And it could be either, know, you have valuable content on your website that's only available to members or maybe you offer discounted prices to people that you know, are paying, are members of some club or group or something that you offer. And maybe that's part of the value added service plan. And you can kind of combine these and roll them up together and think about ways that, okay, I'm going to cover your product or provide this extra service and we're going to give you access to this. You know, look at Amazon with Prime started out, hey, you pay a hundred buc a year, you get free two day shipping, everything. But now, you know, well, it's not 100 bucks a year anymore but it's, you know, kept that free shipping component which is not quite free but it's, they've packed all kinds of other benefits, you know, the audio, the video, you know, the books that they put in there. It's a good value, you know, service. And you see more and more like movie theaters pushing, you know, become a member of this club and your tickets are a little discounted and you're going to Pay every month. And you think about it, it's kind of it and forget it. People sign up and it gets built to their credit card. And whether they use the service or not, they don't really think about it. And I think that's a powerful tool. And it's like the gym membership, right? We want to oversell because we know that, you know, whatever large percentage are not going to show up, you know?

Yeah, I, I, I've always had, like, I get that model.

Yeah.

I, I, I like to sleep at night. Right, so.

Oh, yeah, me too.

I like to, like, I'm not sure that I, but how comfortable I would be. I've never been in this scenario, so, you know, I can only speak to what I think I would feel. But how comfortable I would be to be in a scenario where I know that someone is sending me money for something from which they are getting, like, no value or at least.

But that's, that is their choice, right?

It is. No, I get that. And I also get that, like, the gym membership is often not about being able to use the gym. It's about hope. Right? I mean, it's like, that's really what you're selling or what gyms are selling people is hope. Like, oh, and that's why people pay next month, even though they didn't go this month. It's like, well, next month I'm gonna go. Right? And, and so there, there is this, there is a value to that. It's just like, why therapy has to cost money. Right. You know, because that way you forced yourself to get some value out of it, you know, makes sense. I get that. But also, like, I don't know if I, like.

Yeah, you don't want to build your whole model around that.

Right, I don't want to.

Yeah, I understand. I understand.

Yeah.

And I think another way to do it, too, is, you know, there are companies, you know, very large companies, like Think Costco, that basically the profit that they report is all based on their memberships. You know, so they may, you know, generate billions of dollars in profit, but if you look at what their memberships generate, it's very close to their profitability numbers. And so, in essence, they're. Everything else they're doing is just to pay the bills and to cover their costs for, you know, the tens of thousands of employees and everything else. But their main focus is adding value to their members and creating this experience for you when you go there, that is different, unique. Yeah, you're going to save money, but there's also other things about it. So are there areas of your business that you could do something similar where? Well, maybe I sell all this stuff at cost.

Right.

But it's for our members only or it's for the people that subscribe to this program. Think about different ways to add that value. So when somebody looks at that says, wow, you know, that's a, that's a pretty good deal. Think about the cell phone industry where now, you know, really want to push this model of, look, every year you just, you just bring it in and get a new phone.

Get a new one. That's right.

Get a new one.

Right.

And, and yes, yes, you're paying for it, but it's super convenient. And then they bundle often insurance, you know, maybe replacement or this kind of thing, extended warranties, like, you know, often Apple does.

Yeah.

So looking at your, your small business, how could you adapt that type of model to a section or maybe all of you know, the products or services that you're, that you're selling? I think it's a good opportunity.

Yeah. Years ago, we at Backbeat Media, you know, we sell sponsorships for this podcast, for other podcasts for other website and my partner at the time and I, Greg, we realized, well, we bring these sponsors on board. It takes a significant amount of time, effort to show someone what works and build a plan. And okay, now you're in. Right. And you will do a test campaign, initial run of three months or whatever. Great. And then middle of month two, the conversation with the customer no longer becomes just about, hey, I'm going to service your campaign. Here's all these great things, here's what you're getting out of this. Here's either your spots on the show and here's some other things we've seen, or here's how your banners appeared. And that sort of thing, it then has to become about, okay, well now your campaign is running out. So now instead of me being the person that's helping you, now I am back to selling to. You always said every business is the customer service business. And customer, it's not a fun interaction when this person that you're dealing with suddenly has to tell you, oh, you gotta sign again here so that I can, so we can keep this going and you can give me more money. Right. So we came up with the idea of doing auto renew ads and it has worked out swimmingly for us and for our customers. We give people a very easy out. It depends on what the package, what they're buying, but. But no one's locked in for months and months and months at the most. You're locked in for one for next month. Right. If you want to cancel, just tell me now and you're done after next month. So it's not like long term commitments or anything like that.

Sure.

But it means that we never have to, I never have to chase you down. It's coming up to the first of the month. If you don't sign, your ads are going to stop. And now you're doing a million things because it's the end of the month. Even if you want it to continue, it's a pain in the neck. And so it really, you know, this auto renew thing that we came up with years and years ago and it was Greg's initial idea and then we just sort of, you know, perfected it together and over time, but it really, it changed everything and it makes everything so much more pleasant now. Not everybody's on it. It doesn't make sense for everyone. But you know, for the people that are, it's fantastic and it works out very well and we have long term partnerships and again, it becomes about this relationship with your customers that's more than just, hey, will you sign? Hey, it's me again. Will you sign? You know, like, that's not, that, that's not, that's not actually, we're not selling a piece of paper that you signed. Right. Like, that's just the beginning.

That's right.

We're selling something, a valuable thing that you know, promoting your product or your business, your service. And it's really nice to use this recurring revenue model to actually make your business about that. Very similar, but in a different implementation to what Smile did, where their business could be more customer focused when they stopped having to sell to their existing customers. That's the worst part.

I think that's really insightful in that the way you present it I think is awesome and it's very authentic and you can have that discussion with your customer. It's like, hey, we're going to set this up now. One question I have for you on the auto renew is, do you offer an incentive to sign up with the auto auto renew or is it just like, oh, this is the price with auto renew?

Yeah, no, it's how things work. It's, you know, we'll, you know, with a podcast deal, it'd be like, okay, you know, and depending on the show and the sponsor, an initial run will be three to six episodes, some somewhere in there. Right. And, and then it's like, okay, so what I've done is I've put together this three episode test and the deal is structured such that if it works for you, you just keep going. And if it doesn't, you know, we don't stop talking to people. It's not like we want to hide it like the gym membership. Right. You know, sure. Like, the point is that we want enough time to show you how awesome it is to work with us. Like, that's really what it is. And then, you know, if you still want to cancel, like, we're gonna, we're gonna tell you, hey, you know, we're coming up to that deadline where if you don't cancel, you're on for just one more month. You know, it's only a month at a time kind of thing, but, you know, we'll tell them that. And, and it's like, just be upfront and it's fine. But, but that's a, that's like a nice service to provide to say, hey, FYI, you know, you got a week and then, and then, you know, you're locked in and you roll into the next month as opposed to, hey, I need you to sign again.

Like, well, you don't have to sell to them over and over and over and over.

Although customer service is selling. Yes, but it's a better. Right?

You're, you're both on the same side of the table.

That's it.

When you're doing that, customer service. Right. But when you minute you have to put your sales hat on, it's like.

You'Re, you're on the other side.

And so I, I love that. And, and I think that's a very good point to really drive home in this episode is that think about how you're adding value, really being authentic and transparent about it and, and using this auto renew feature, you know, it's a powerful lever.

It, I mean, it's, it is mutually beneficial. But again, it, you know, it is not a zero sum game. Like, it's an important thing to remember that just because it's good for you in your business, this doesn't mean it's bad for someone else. This isn't the stock market. You know, someone doesn't have to lose for you to win. So. Yeah.

Yeah, that's cool.

Yeah, I love it. Yep.

So another thing that I really like, and I'm going to kind of skip around here in our notes, is I really like the, you know, content that you're creating. But taking it to another level, can you create an online course that's related to your business or something? Maybe Maybe not even related, but ancillary is there. What level of expertise do you have or do you have within your organization that you could have a course that you could have up on your website and sell to subscribers? Think about all your knowledge, all your employees, and create a course that you can monetize. And maybe these are just little mini courses that are very inexpensive. If you're selling photography equipment, maybe there's a way to create a course that specializes. Yeah, there's a ton of free stuff online. However you get, often you get what you pay for. But if your level of, if you're known as the expert, it's like, oh, we're the local photography whatever. We're the go to place or we're the go to place for these supplies or whatever it is, you have that knowledge. And if you could create something and allow people access to that, whether it's, you know, maybe you're allowing it as a level of membership or a subscription or, or just do selling it by itself. All of us are experts in something and people will pay if they think it's worth value.

We definitely are in a culture now. Society has gotten to the point where I think there's a general understanding and acceptance of value for value and it's okay to pay. Like you said, it doesn't have to be every course doesn't have to be $5,000 or something, 150 bucks or 75 bucks or whatever it is. If it's value for value, people will pay for it. Yeah, yeah.

And if you have enough, you know, volume, I mean, maybe it's, hey, it's 10 bucks a month or $99 a year, and you get access to all of our content, you know, however you want to do it. And I would suggest in the beginning, you know, or maybe throughout, you have to do some free content and because I think that's very powerful as well. And you're trying to get your credibility built up and entice people to come in and. Oh, we are, we do know what we're talking about. If you want to go to the next level, this is what it is. It's kind of like that scarcity thing that we talked about in our aspirational marketing episode. Was that a week ago?

Yeah.

So you're gonna make your content scarce and you know, to try to get people to come in and, and better themselves, you know, that way. So I, I think it can work out great. The whole idea, my whole purpose of this is just to get you thinking about things that you may not Wouldn't consider at first glance of a subscription, a membership or recurring income that you can tweak a little bit and adjust and offer that to your customers to get that recurring revenue coming in.

You know, with Matt Geek Gab, one of the podcasts that I've been doing for almost 14 years now, you know, we, as we do here, we create a community, right? We're helping each other. It's a two way street. We have listener feedback and over the years people would find ways to thank us for the help that we provided. And you know, like at Christmas time, Amazon gift certificates would show up in our, you know, in our email box and things like that. Oh yeah, it was very, very, I mean, very humbling and really a nice gesture. And people would say, gosh, you know, you should find a way to take donations. And I, we stood on the precipice of that for a long time because I was like, well, well, as soon as we open this door, whatever way we choose, you know, we're locked into that or at the very least, if we try to get out of it or change it, we've got people that have been paying, so what are we offering these folks? And we've experimented with a lot of things over the years. At first we did extra content for people, and it turned out that that was the wrong thing for us. People did not want extra content because they didn't want, want their stuff. Like our premium listeners didn't want their stuff paywalled because part of the value is in the community, right?

Oh, sure.

And they're like, well, wait a minute, you know my question. Yes, sure, you know, the two of you are listening to it and answering it, but that sometimes somebody in the community actually has the best answer, which is totally true. And it's like, oh, right, we're, we're actually penalizing people for paying us, you know, and, and, and we do offer a priority email address. So, and we do answer people's questions. So that's something that's always stuck with it. But really what it is is we've created this community and we have essentially people that want to be benefactors to that community. And it's, it's interesting when you finally understand, or when we finally understood the value of what we were actually selling, you know, and it was like, huh, okay, Yep. All right, well, we'll just go with the flow on this. That's fine. But you know, we still try to do things so that we're sure that people are getting specific, little different things, but things Nonetheless, all the way through, so that when renewal time comes, they don't decide to cancel, you know.

Yeah, yeah, no, I think that's great. And I have donations on my list. I mean, and thinking about it, it's not just for causes or nonprofits or whatever it is. If you're solving problems for people, which Mac Geek app, man. If you solve somebody's problem that they've been having and if that affects their business or something that's been driving craz, It's a powerful connection.

Right.

And. And, you know, very heroic oftentimes. And maybe like you said, Dave, maybe it's one of your community members that solve the problem, but people want to reciprocate, want to support the community, want to make sure you guys are there every week.

Right.

So put having that donation button, you know, whether it's through PayPal or Patreon or however you're going to set it up.

We built, I think this again, you know, you built your own. Story of my life. I built my own and I didn't sell it to anybody else. Yeah, yeah, yeah, yeah.

Y. Yeah, but that's great. And it's something to think about, you know, it's not that you have your hat in your hand that you're asking, you know, but it's like, oh, if you would like to.

And that's really what it was, is. It's just if you would like to. And you know. Yeah. And it's become a not insignificant part of our revenue stack there, you know. Yeah, it's great.

Yeah, that's really great. Another one on my list is that, you know, I've always. I was in the technology business forever. And, you know, recurring upgrades are just a part of that world.

Right.

Your laptop eventually is. You're gonna need another one, you know, your phone, whatever it is, your iPad. And, you know, how do you get in that upgrade cycle? And I always sold, you know, trailing edge technology. We were always one or two generations behind because that was the sweet spot for what we felt was a better value for people. And it was also tended to be a little more profitable, a lot more profitable than selling, you know, current product. So we took that and you could continually upgrade people, get them to trade in their old equipment, offer incentives, tell them a guaranteed it's going to be 70% of value, whatever it is, and let them automatically upgrade on a regular basis. And to bring it in, they already trust you. It allows them to continue that relationship. Maybe you offer some sort of insurance or warranty program if they sign up for this upgrade program. It's a great way to keep in touch with your customer. This is a big deal that we've been underlying topic of this whole show is you don't want just a transactional relationship with those people. You want them signed up for your newsletter. You want them coming into your location or coming onto your website more to use that content or to connect with you. Anyway, that's really powerful. And these are just a few ways that you can then try to implement different ways and just think about it. And we'd certainly love to hear, you know, how you're already doing this with recurring income. What have I, what have I missed today on in my notes, you know, feedback. BusinessShow co. Show us what you're doing or come to the small business support group BusinessShow Co Facebook and share your story. We would love to hear from you. And once again, thanks for listening. We really appreciate it.

Yeah, no, it's fun stuff. It's. Yeah. Recurring. I'm always trying to think about ways of where, you know, I can provide value that in such a way that it results in this recurring revenue. It's. It's a fantastic thing. Yeah.

Be a natural, a natural thing that your customers will thank you for.

Right. Yeah. It truly can be a beneficial thing. So for everybody involved. So yeah, thanks for listening folks. Keep living that charmed life. Feedbackus show co thanks Shannon.

Thank you, Dave.