Hi, I’m Janet Clark with The Freedom Shift and we’re here today on Janet Talks Business TV to discuss how to create Multiple Income Streams in your business.
Last week, I talked about gaining Financial Freedom with recurring revenue. If you missed it, the link is below.
So what do I mean by creating multiple streams of income for your business?
Let’s discuss multiple ways that coaches, consultants and speakers can monetize their business.
I’ll run through a list, and I may miss some things but you’ll get the gist.
1st and most obvious is one-on-one coaching. This is a great way to create a healthy income stream but it is labor intensive. Meaning that you have to spend time to make money. So to make what my coach calls “insane money” you would have to commit to a very full schedule. I recommend limiting one-on-one to between 5-10 high end clients.
2nd is group coaching. This is a great way to leverage your time. You can schedule one training call per week, or better yet, record a call to send out every week. And then offer limited one-on-one access.
3rd is Create a Membership Site. Some coaches charge a monthly fee for an Inner Circle or Insider group. This can be a great source of recurring revenue.
4th is Create a series of training videos and sell them as a package. These can be on your website and will produce income over and over again.
5th is to create a Podcast or Radio show and sell sponsorships – first you build up your audience, then sponsors will pay for plug on your show.
6th is to write a book and sell it
7th is to host live events or workshops which people pay to attend
8th is to become an affiliate for others and promote their products and services
And, as I said, there are probably more. Do you have any idea what the common denominator is to successfully creating one or more of these income streams?
If you said, and email list, you are right! And if you’ve been tuning in to me for any length of time, you aren’t surprised by that.
The list is your ticket to Freedom. If you don’t have an email list, it’s hard to attract ideal clients, no matter how many programs or products you have.
So if you are ready to build a list or if you’re not sure, book a chat with me at the link below and let’s figure out how you’re going to get started.
Next week, I’ll talk about different marketing strategies. Stay tuned…
Until then, I’m sending you light and Love,
Bye for now.