4 Revenue Models
There are four revenue models for business. Be familiar with them so that you can plot the progression of your future business revenues.
1. Service-Based
This is trading time for dollars.
2. Transaction-Based
This is project-oriented (vs. hourly rate).
3. Recurring Revenue
This is continuing revenue on consistent basis (i.e., membership site, etc.)
4. Passive Revenue
This is where you create a product or service that is automated and “ever-green” in relevance to meeting your market’s needs as a solution.