I want to share my thoughts around a business model I recently realized while attending a RedSox baseball game in Boston with Jamie and Alasdair.
It’s one that can easily be adapted to your business, regardless of the sector you're in.
After attending a game between the Boston Red Sox and the Houston Astros, I began reflecting on how professional sports, like baseball, have mastered the concept of repeat business.
Their model provides a valuable lesson for anyone looking to build a sustainable, recurring revenue stream.
It’s easy to get stuck in the mindset that your business only thrives through one-off sales or large purchases. But just because you choose your product or service this way doesn’t mean it’s the only way to scale.
Take the Boston Red Sox as an example. Over the course of their season, they play 167 games, often back-to-back.
It’s an incredible operation where fans fill the stadium multiple times a week, season after season. Now, let’s consider this from a business perspective.
The fans are returning regularly, not just for a single event, but because they have been hooked into the experience.
Fans don’t just buy the tickets once; they commit to the season, and they invest in the full experience: food, parking, merchandise, and the overall excitement. The same can be applied to your business, how can you get your customers to keep coming back, not just for one-off purchases but for consistent, repeat business?
Just like the sports industry leverages season tickets, your business can create a subscription model that promotes repeat purchases.
It doesn’t matter if you're in a field like real estate, automotive, or construction. Consider how a small monthly subscription, say £30 per month - could add up over time.
For example, imagine sharing your expert knowledge through a membership site.
This could be a series of videos, articles, or webinars where your audience receives new content on a regular basis. If you had just 100 customers paying £30 a month, that’s £3,000 in predictable, recurring revenue.
And if you scaled that to 1,000 customers, you’d have £30,000 coming in each month.
By packaging your knowledge and expertise into an easily consumable format, you can create a model that generates steady income while continuing to add value for your customers.
It’s not just about asking for regular payments, it’s about creating an experience.
This is what the Red Sox do so well.
It's about the environment, the food, the atmosphere, and the sense of belonging. Fans don’t just go to the game; they experience it.
In your business, think about how you can enhance the value you’re delivering. Can you offer monthly updates, exclusive content, or personalized advice?
When your customers feel they’re getting something valuable, something they can’t get elsewhere, they’ll continue to invest in your business.
The key takeaway here is consistency. Just like fans consistently return to sports events, your customers should be able to rely on your business to deliver value on a regular basis.
This doesn’t only apply to product-based businesses. Whether you’re providing a service or sharing expertise, the principles are the same.
If you're struggling with thinking of how to implement this model, start by asking yourself:
What knowledge do I have that my customers frequently ask for?
How can I deliver that knowledge consistently?
For example, if you're in real estate, you could create a membership where subscribers get ongoing advice about the market, exclusive property listings, or guides to buying and selling or property renovation.
If you’re in the construction industry, you could offer subscription-based access to project management tips, tools, and industry insights.
The goal isn’t just about selling products or services, it’s about creating a community of repeat customers who value what you provide.
By embracing the recurring revenue model used by the sports industry and many successful membership businesses, you can build a sustainable business that thrives on consistency and experience.
Start by considering what recurring value you can offer to your customers, and then think about how to deliver that consistently.
The results may surprise you.
Feel free to leave a comment below or reach out if you'd like to brainstorm how to implement this model in your own business.
Always here to help you start, grow, and thrive. Let me know how I can support your next big move.