How to Create More Income Streams to Leverage Your Time and Make More Money in Your Business
December 18, 2014
I’m a big believer in leveraging your time and creating multiple income streams so that instead of relying solely on one stream you’ve got several.
By having several income streams going in my business at one time (through 1:1 services, products and programs) I’m able to better leverage my time, work less yet earn more.
Most often when I work with new clients and help them design their Business Model I see that they typically have a few gaps that are causing them to not have income consistency in their business.
If you’re like most entrepreneurs, you may appreciate the benefits of working for yourself but crave the income consistency a job provides.
In order to offset the highs and lows it’s best to create multiple streams of income.
Before we start we must cover some of the most fundamental things:
- Think outside the box: Don’t get trapped into thinking that there’s only one way you can generate income in your business. It’s simply not the case. There are often numerous ways, you just haven’t designed a business model to include them.
- Connect the dots: It wasn’t until I fully developed my signature system that I realized I had multiple income streams in my business. If you haven’t developed yours for your business yet then this needs to be your first step.
- Create a plan: Once you develop your income streams you need to have a way to drive traffic to them. That’s through your marketing. The primary way I know of doing it (and most effective in my opinion) is to use speaking. When you have a signature talk that drives traffic to you and your income streams you have a constant flow of leads and revenue. (To learn more about how you can develop your signature system and signature talk click here)
Okay, now that we’ve covered some of the basics – let’s get the juices flowing so you can think about additional ways you can add income to your business.
Here are a few things you can consider and will help you start to brainstorm more for your business:
- Breakthrough Sessions
- Half and Full Day VIP Retreats
- Intensives (a combination of sessions and a Retreat)
- Multiple month programs
- Group programs
- Masterminds (one-to-one or in groups)
- Audio or video downloadable product
- A 4, 6, 8 or 12 week training program
Now I’d like you to think about ways you can generate more income in your business. Leave me a comment and let me know your thoughts and questions about how you can derive more income in your business.
And if you’re not sure how to design a fully leveraged business, how to consistently get clients and sell your services, then let’s find a time to speak. Contact me here to schedule a complimentary session to learn more about how to design a business that let’s you earn more, work less and impact many more people in the process.
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