First, and most importantly, I hope everyone stayed safe and survived Hurricane Sandy without incident.
During coverage of the hurricane by the various networks, many of the commentators spoke about the adverse economic impact the hurricane was projected to have. Businesses that lose power would be unable to operate, roads would be inaccessible from flooding and fallen trees, preventing or deterring travel by consumers, and public transportation would be impacted. These are just a few of the many negative scenarios discussed.
Just one day of a regional discontinuance of business operations would amount to hundreds of millions of dollars of lost revenue.
As we see now, in various parts of the Northeast, the negative economic impact will be devastating, amounting to billions of dollars. Some businesses will be unable to recover, while many others will feel the negative impact for quite some time.
So how do you avoid a potential catastrophe from an outside force that you cannot control? How do you prepare for a natural disaster so you can continue generating income on a regular basis?
The answer is to find a way to incorporate continuity income or a recurring revenue stream as part of your business model.
Continuity income is the most powerful business revenue generator because it has the potential to produce an ongoing stream of revenue even when you sleep. It's predictable and can be relied upon with a high degree of certainty. This differs from the sell-deliver-resell model where you earn only as much money as your last sale. You make a sale and get paid. Now to make more money, you need another sale. If you stop selling, you stop earning.