Growing revenue is a key challenge for just about any business, but the realities of a bootstrapped freelance business or creative agency can make it all the more daunting.
When your lean team is busy managing multiple clients, taking on new projects, and working hard to meet existing deadlines, increasing your bottom line can often feel like a losing battle.
One of the best ways to combat this seemingly endless slog is by finding opportunities to create recurring revenue with clients who already rely on your services and appreciate the work you’re doing.
Flywheel Growth Suite is the WordPress hosting solution designed with agency life—and recurring revenue—in mind. It acts as your virtual assistant, keeping tabs on vital information like revenue tracking, billing and invoicing, and services rendered to keep your growth trajectory moving up and to the right.
While broadening your client relationships and providing additional services is a great strategy for generating higher recurring revenue, defining those services, tracking that income, and turning it into consistent, monthly recurring revenue (MRR) is vital to your success—but that doesn’t mean it has to be complicated.
It all starts when you define your services. Using Flywheel Growth Suite, the service creation function allows you to define the services you offer, including unique tiers within those services.
Add as much detail as you’d like to ensure your clients know exactly what they will receive in each service tier.
Defining your services or creating net new offerings based on your existing scope and expertise will provide you with new vehicles for creating consistent revenue.
Once you’ve created your services, you can set up payment dates and automated invoicing to send to your clients. You can also backdate, edit, or cancel invoices at any time.
After a few months of successful payments from your clients, the real magic starts to happen.
Growth Suite has fundamentally changed how I operate my business. It streamlines my workflow, gives a better experience for my clients, and has given me the means of creating monthly recurring revenue that is both easy and fun to track! I would not have the business (or the life) that I have today without the help of Growth Suite.
Darren Peel, Founder at Extraordinary Brands
Flywheel Growth Suite’s billing and invoicing functionality makes it easy to do more than simply accept client payments. It actually manages and tracks MRR for you, creating a month-by-month graph of data that’s easily accessible from your personalized dashboard as soon as you log in.
Tracking MRR is vital to your strategic planning—but it doesn’t have to be a complicated process. Knowing how much money is coming in on a monthly basis will help you understand when you can afford to invest in your business and when it’s time to tighten the purse strings. It will also provide a clearer picture of where you currently stand vs. where you want to go.
Focusing on the above suggestions will go a long way in helping you reach your goals. As your business grows, the last ingredient is ensuring the work you’re doing and the sites you’re building are all hosted on a fast, reliable platform.
When you streamline your client management processes with Flywheel Growth Suite, you lay the foundation for consistent MRR, while also benefiting from all of the perks that come with WP Engine’s industry-leading managed hosting platform, including lightning-fast site speed, best-in-class security, collaborative workflow tools, and award-winning, 24/7 support.
Flywheel Growth Suite will fundamentally change the way your agency grows by making it easier for you to expand your client relationships, seamlessly accept payments, and gain insights into your financial data, all on the same platform that hosts your client sites!
Stop stressing and start growing your agency more quickly and predictably with Flywheel Growth Suite!