Share to Facebook Share to Twitter Share to Linkedin Greg Smith is the founder and CEO of Thinkific , a leading platform for creating and selling online courses. getty I have a confession to make. When my cofounders and I first launched our creator-educator course platform, our business model was based on one-off sales and custom course creation.
This meant we never had more than six weeks of cash flow in the bank. The lack of financial breathing room was stressful, to say the least. It took us nearly three years to truly implement and realize the power of recurring revenue, but the moment we were able to leverage a SaaS model to build a predictable income stream was truly freeing.
It meant we could shift more of our energy from worrying about how we were going to make payroll to innovating and creating more value for our subscribers. Today, more businesses than ever are considering adding recurring revenue strategies to their income diversification efforts. Of course, you don’t have to go this route to build a successful business, but there are many reasons for creators to consider it—and financial stability is just the tip of the iceberg.
More Than A Business Model I’ve been chatting with a lot of successful creators lately as part of a podcast interview series, Unique Genius , and the topic of recurring revenue keeps coming up—for good reason. MORE FOR YOU Russia Is Running Low On Tanks. So Why Are A Thousand First-Generation T-72s Still Sitting In Storage? ‘Hous.
