Create more Income Streams

By April 24, 2012Business advice
These days, making money is all about strategy, and part of that strategy needs to include the possibility that you won’t always be ready and willing to work. An accident, a family tragedy, a sick child, an ailing parent — anything can upset the carefully planned schedule. Enter the multiple income streams strategy.

Income stream: The flow of money generated by a business. ~

Let’s say your business (like mine) is a service to both businesses and solo entrepreneurs. How can you monetize all that you bring to the table? How can you spread your knowledge and expertise?


Cover for the Business Strategy Wikibook.

Cover for the Business Strategy Wikibook. (Wikipedia)

Keep in mind that the goal is to have both active and passive income, and that the passive income will need to keep coming when you are inactive. Here are some suggestions:

Your particular service
Public/workshop/conference speaking

E-books with your advice
Printed books/curriculum/workbooks
Live webinars — one-topic classes
Video courses — accessible by paid, private link
Private video series that requires the purchase of your workbook

Affiliate links
Affiliate programs

Advertisement buttons on your website

*Anything you do should keep you in your niche and support your overall vision for your business. You don’t want people to come to your site to read about copywriting and start getting lost in your family vacation pics.

*Everything you offer needs to benefit the consumer.

In order to come up with your own list of sellable items, ask yourself

“What do I have that people value, and how can I make that easily available?”


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