Issue #19 | November 23, 2020 | Read Time: 2:30
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Issue 19: 5 MRR Opportunities You Can Take Advantage of Right Now
This week we’re talking about…
- 9 different customer acquisition resources,
- Reasons to feel grateful, and
- 5 ways to find hidden MRR opportunities.
Let’s get started!
THREE THINGS YOU NEED TO KNOW:
THING #1: Your guide to acquisition resources.
Over the past few weeks Ryan’s been talking all about customer acquisition in his 3 part series on the Scalable Library.
This week he rounded out his series with a Help Desk article, featuring a ton of different resources that he says inspired him to build out this series.
There are 9 different resources spanning videos, Powerpoint presentations, articles, and more.
Here are our top 3:
1. This Google talk from Peter Fader and Sarah Toms, the Authors of the Customer Centricity Playbook (located halfway down the page.
This insightful video clocks in at about an hour—perfect for watching over your lunch break—and gives a great overview of the topics covered in the book. The same topics that heavily influenced Ryan during the building of this acquisition series.
2. If you’re looking for some metrics heavy content, check out Brian Balfour’s guest post on Andrew Chens website all about “the real way to calculate CAC.” CAC (customer acquisition cost) plays a huge role in the ways Ryan suggests you shape your acquisition strategy, so it’s an important metric to nail down if you want to implement.
3. If you’re looking for more general knowledge from the master himself, this presentation by Jay Abraham will give you an amazing overview of the different ways to grow your business.
There are some real gold nuggets in there.
You can check out the rest of the resources on last week’s Scalable Library post.
THING #2: MRR in 5 easy steps…
Roland Frasier did a solo episode on The Business Lunch Podcast last week where he talked about 5 different steps you can take to find opportunities to add MRR to your business.
Why add MRR?
It’s simple. By creating predictable income from reoccurring purchase opportunities, you can increase your business value 4-5x.
So what are those 5 steps?
1. Convert one-time payments into auto-ship.
2. Add MRR to your Services too.
3. Turn one-time sales into SAS or boxes.
4. Memberships, associations, and buying clubs.
5. Add Certifications to your trainings, events, courses.
Follow this link to get a deep dive into each step.
THING #3: What are you thankful for?
This week is Thanksgiving in the US, and we’re feeling a bit sentimental over here on the Scalable team.
We all know 2020 has been a rough year…
But if you are reading this right now, that means you woke up this morning, and are healthy enough to log into your email and read this newsletter.
It also means that we at Scalable are privileged enough to work from home and continue to build out this newsletter.
Both of these facts are things to be incredibly grateful for.
So we want you to stop everything you are doing right now (yes, including reading this newsletter) and make a list of 5 things you are grateful for.
In such an overwhelming time, an exercise like this can help change our perspectives and put everything in its rightful place of importance.
So what about us?
Well… we’re grateful for you!
CLICK THESE LINKS:
- Leadership: Use stories to lead with conviction.
- Sales: Master the sales call with this helpful guide.
- Just For Fun: Who doesn’t love a good subject line swipe file?!
I hope you enjoyed this week’s issue. If you didn’t, we’ll try to do better next week. If you did, could you do me a favor and share it with 3 friends and colleagues?
It would mean the world to us.
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What is The Memo (a.k.a. the thing you’re reading right now)?
Every week, my partners and I send an email memo to our internal executive leaders (the people running our companies) sharing news and insights we believe they should know. Sometimes it’s an interesting article…sometimes it’s a new thought or idea…but it’s always something timely, tactical, and actionable.
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The Scalable Company is a collective of founders and entrepreneurs who have no idea what they’re doing, and are willing to admit it. You can read our “Accidental Entrepreneur Manifesto” here, and peruse our internal “wiki” of resources and best practices here.