Today’s topic is what my CRP members have been asking me. It’s all about how to create multiple revenue models. And more importantly, I know a lot of you guys are just starting your business. And so how to pick which one to start and some options for you for building that revenue into your business, that’s our topic for today’s episode, so we’ll just dive into that.
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How to Build Multiple Revenue Streams
These are all the multiple streams of revenue that I’ve had in my business over the last nine years. And so, I’ll give you the pros and cons too. My goal is after you listen to this podcast, you kind of know a direction you want to take. You pick one and you go with it. You will have a plan moving forward.
Have a blog. You can get paid to put ads into your blog. The revenue on the ads on your site will depend on the traffic you receive on your site.
Sponsored posts or Sponsored social media
Probably the most popular now. You can get paid through blogging about products you love or to post on social media about products you love. It’s something that can add to your revenue as you build up either your followers on social media, your Facebook group or your website.
You can speak to a lot of people at once. After you’re done speaking for free, you can either make an offer and sell your course for your book or whatever you’re selling, or you can choose to get paid to speak.
Publish an eBook
Whatever market you’re in, there’s some knowledge that you can share about what you’re doing. It’s pretty easy to put together. You can sell it as a PDF on your website.
Whatever you’re doing or if there’s some knowledge that you have, you can turn that into an online course. So if you love to teach, this is great. There are many tech options to turn what you know into a course and teach other people.
This is when you find a really great product that you love and you promote that product or that course. You can generate revenue from selling their course that people buy through your link and then earn a percentage of that purchase.
A great way to start generating an impact while adding it to your revenue streams. We only need one person so you don’t need a ton.
If you’re limited on time, then I would move very quickly to group coaching because then you can set the time and schedule.
Create a physical product that you can add to your business that goes along with everything else that you will sell.
The best way to earn recurring revenue in your business.
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