Digital Rebel

Multiple Streams of Income

I apologize if my blog subject sounds like a 1995 sales-copy headline. I recently attended a luncheon with a former super affiliate who made some green during the internet marketing era when you actually could make monetize pay per click campaigns through black hat tactics. These black hat campaigns generated a ton of money for online marketers while it lasted. This is before Google inserted its dominance over the inter web and enforced certain expectations from websites and sales-copy. The super affiliate had to transform his techniques and business overnight to play nice with Google.

He then applied his skill set into a pay per click agency which is just one pillar of the internet marketing solutions service industry. He recently reached out to me to discuss ways on how we could potentially work together and look at what is working for our respective businesses. The one common trend we realized is that as service providers in our industry there is many different ways we can create monthly income. The reason why we have to evolve and follow the money trail is our businesses cannot survive being a one trick pony.

I am currently meeting so many entrepreneurs who follow one niche and their keynotes, presentations and product line solely focus on one approach. The challenge with this is the novelty wears off across your consumer market pretty quick. If you focus on one keynote as your main credibility factor, you leave your audience asking themselves is that it? If you have one product or service you offer you are almost leaving money on the table for an up sell.

My super affiliate contact and I decided to map out the different ways that we have managed to create multiple streams of income. The truth is we are really glad that we can manage to find a balance between growing our business while seeing some strategies turn into cash flow. We looked back at how we got to this place and came up with some questions we asked our selves that led us to where we are now. I wanted to share some of these questions with you to give you direction on how you could take your business aspirations to the next level.

These questions are as follows

  • Is your product or service the only thing you can offer. Can you create other products to up sell your current customers.
  • Have you thought of writing an ebook, book to add to your product line.
  • Have you thought about becoming a keynote speaker. Are they multiple topics you can speak about and use one that builds your exposure while the other is used for paid events?
  • Are there consulting services you can offer if you are product vendor?
  • Are there products you can sell online if you are service provider or consultant?
  • Can you create workshops that you can charge for?
  • Can you hire more people to do what you do?
  • Have you looked at other topics of areas within your industry? Can you outsource other platforms to compliment your own business?
  • Can you create partnerships with competition?
  • Can you create partnerships with other services that compliments your consumers audience?
  • Can you become an affiliate for other products or services?
  • Can you create strategic alliances and joint ventures with other business platforms?
  • Can you create a recurring product line?
  • Are there ways you can automate your sales-cycle?

The purposes of creating multiple streams of income really is to create growth and recurring consistency of revenue from your sales process. This 600 plus word blog post (for anyone that thinks I only make short blog posts) is to find that hunger that each entrepreneur possesses to see their business grow! Until the next blog post, stay hungry my friends :)

 

Leave a reply