The Problem with Service Business
B2B consulting can be great. You set your own hours, work remotely, interact with a variety of interesting industries and clients, and can see the results of your expertise and effort through your client's success.
But as a service-based business, consulting has some significant negatives:
- Billing is directly tied to work performed. If you stop working, so does your income.
- Your revenue cannot scale. You have to either take on more work yourself or hire employees who adhere to your quality standards.
- Project-based work can vary greatly from one month to another. This creates a lot of stress for finding new clients.
- The retainer consulting model is in decline, with clients preferring one-time project-based assignments.
Decoupling Your Income
In a perfect world, we could grow our income while avoiding the need to burn the candle from both ends. If only there were a way to uncouple revenue from the services we provide.
There is! It's called passive revenue, and it's common practice in many other industries:
- An author writes a book once and earns royalties for years.
- A real estate investor purchases a property once and earns rents with minimal ongoing investment or effort.
- An engineer files a patent and earns a licensing fee from someone else who manufactures the part and services the end user.
Damn, I should have studied engineering...
Passive Revenue for Consultants
Assuming you're not ready to dedicate a year to writing a best-selling novel, there's actually a much easier option to add recurring passive revenue - partnering with a subscription-based business.
Subscription-based businesses already benefit from recurring passive income, and you can share in their success.
For example, my company, Milo Digital, is a web development agency in Los Angeles with over 12 years of experience. Our business model is primarily subscription-based services, and we're happy to share 10% recurring passive commissions with anyone who sends us a client!
It just so happens that B2B consultants are in an excellent position to refer our target customers - B2B SMEs.
Why Partner with Milo?
Our referral program is the perfect solution for B2B consultants looking to diversify their income with passive recurring revenue:
- Our services complement those of a consulting firm. Partnering with Milo allows you to extend your services offering without incurring the costs of building out a web development team and associated infrastructure.
- We do great work, and we've been around the block. We've worked in most major industries and partnered with major agencies like Deutsch and Innocean, national brands like philosophy cosmetics, and numerous SME's. Check out our portfolio here.
- We have high customer retention. Our excellent customer service and consistent quality has allowed us to grow with very minimal sales and marketing. In fact, almost all of our customers came through referral.
- Our commission structure is generous. Most cookie-cutter affiliate programs cut off your commissions if you quit referring new customers. We think that's absurd. If you refer a client, you will earn a commission as long as they remain our client.
- We sell high-value services. Most software subscription businesses charge a very small monthly fee ($30-50/mo), leaving you with a tiny commission. You'd need to refer hundreds of clients before it amounts to much. We, however, provide custom website design and development ($10k+) and monthly service retainers ($500+/mo), so you could make $20k in the first year with around 10 referrals.
- We handle the work. You get paid. There's no ongoing effort required on your part other than depositing your referral.
We love our partners.
If you're interested in building a stream of passive recurring income, please share your contact information.