196: I Stopped Chasing Recurring Revenue, and 10x’d My Business

steve-cunninghamNote: Click here to download the free highlight reel PDF from this episode.

“The conversion rate ended up being about 10 times better than it was before,” Steve Cunningham told me.

With a statement like that, I had to find out exactly what Steve did to achieve such a multiple.

His story starts back in 2010 when Steve was thrown into the family business, a signage company, after a brief (1 week) stint as a lawyer. With no prior experience in the business world, Steve decided to throw himself into reading one business or self-development book a day to get up to speed.

While attending meetings for the family business Steve would spot some of the business books he had read sitting on the shelves in clients’ offices and saw this a good conversation starter. However, he would find out that more often than not that they had not read the books.

This presented Steve with an opportunity that interested him – to produce videos summarizing business and self-development books and deliver the books core message in a quick and easy way to digest.

Tune in to hear how Steve’s ReadItFor.me videos started to go viral without any marketing efforts, how he turned his side hustle into a full-time business, and how the move that 10x’d his revenue this summer.

Download the Free PDF Highlight Reel:

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Click here to download Steve’s top tips from this episode.

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Learn:

  • How Steve spotted an opportunity for a business idea and got started.
  • How his videos were being shared with no marketing budget or “hacks”.
  • How he decided to price monthly, annual, and lifetime subscription packages.
  • How he 10x’d his conversion rate with his lifetime subscription offer.
  • How he landed his first large corporate customer.
  • The unique way he is using the B-to-C-to-B business model to secure large clients.
  • How he created an affiliate network to reach a wider audience.
  • Steve’s #1 tip for Side Hustle Nation.

Links:

Download the Free PDF Highlight Reel:

Click here to download Steve’s top tips from this episode.

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6 thoughts on “196: I Stopped Chasing Recurring Revenue, and 10x’d My Business

  1. Sounds like a very interesting topic – going to check it out now. I know many folks would rather opt for the lifetime subscription so they don’t have to mess with the hassle of renewal. I know that I usually fall into this camp.

    • I agree, sometimes at my own loss… For example, I would rather pay $200 for a lifetime plugin, instead of a $15/month charge… then only use it for a year and move on to something newer/better. It technically cost me MORE, but it’s more convenient and there’s potential savings if I stuck with that product longer.

  2. This makes sense – I don’t like to pay recurring fees as well & it seems this business model has like $0 additional expenses per 100 new subscribers – even customer support request are probably non-existent

  3. Great episode. Laces with great information. What are the legal ramifications to doing book summaries? Do you have to pay royalties? What about concerns with copyright infringement?

  4. Jim has a good question about copyright?

    I’d assume the summaries are ok just like a review, but enhanced.

    Anybody…..

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