Are You Making the Most of Your Business?

Are You Making the Most of Your Business?

I have found that most service-based businesses are not offering services that will allow them to make money in multiple ways. Following is a brief list of income streams you may consider adding in your business:


Individual Coaching/Consulting Programs

  1. E-mail support
  2. Three-, six-, or twelve-month programs


Group Coaching and Consulting Programs


Private Retreats (Live or Virtual)

  1. Half Day
  2. Full Day
  3. Multiple Days


Live Events

  1. Small Mastermind groups
  2. Workshops

 

Trainings

 

Online Products

  1. Your Signature System delivered via audio, PDF, DVD or any combination
  2. e-Book detailing a problem that you solve
  3. e-Course that you taught live

 

Membership Programs

 

Write a Book

 

Webinar/Teleseminar

  1. Single session
  2. Multiple sessions including a Q & A session

 

Public Speaking

 

Joint Venture Projects


The above suggestions are only a small sampling of ways you can grow your business with variety to create additional income streams.

You can pick and choose from them; however, please do to try to implement them all at once.  

This is called leveraging your business and my favorite benefits are:

  1. I can generage income while I am doing other things. Leverage is when we are generating money whether we re working or not.  
  2. I can train others without being there with them.  It wasn’t until months later, when I would randomly see orders come in that I fully realized what I had just done. I had completely moved on to the next project and yet my coaching videos were training people without me being present. 
  3. I can generate recurring income

 

What services or products have you added to your business to generate additional business?

 

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About Online Biz Boomer Babe

Rachel Lavern is a Certified Business Coach and founder of My Booming Online Business--a blog for middle-age, global, uptown women. She is on a mission to transform entrepreneurs' finances by teaching the action set, mindset and skill set needed to get launched + make money.

Comments

  1. What an excellent list Rachel!

    And I really like your group Coaching and tele seminar suggestions. And your
    email support program sounds like that could potentially be fun as well as extremely profitable too!

    There all excellent ideas, and for the right entrepreneur, any one of them could be extremely profitable ventures!

    Thanks for sharing!
    Mark recently posted…Wonder Why So Many Extremely Savvy Entrepreneurs Miss This incredibly Simple Marketing Opportunity?Part FourMy Profile

    • Hi Mark,

      Over the years, I have found that email support oftentimes required too many iterations from both parties.  Clients go all around the issue and it is usually easier to detect that during an oral conversation.  I now allow clients to only communicate with me via email if they have certain coaching packages. 

      Have a great week!

      Online Biz Boomer Babe recently posted…We are Natural CreatorsMy Profile

  2. Hi Rachel,

    Over time, I have done individual coaching, created a membership site, do webinars once a month, followed by Q&As on a weekly basis. I have developed my own digital products. Now I’m entering some Joint Ventures. Phew… No I didn’t do it all at once, but over a long period of time.

    When reading this, it made me realize that I’ve put a lot of work into my business. Now I’m going to do a happy dance!

    -Donna
    Donna Merrill recently posted…The Internet Marketer LifestyleMy Profile

  3. Write a book?! That’s a great idea. I also like public speaking. I do the latter. I’m going to try the former.
    Zach recently posted…I Was Hit by a Drunk Driver—Who Can Be Held Liable?My Profile

  4. I was happy to read your post. Lately I keep hearing about multiple streams of income. The biggest issue I have is finding the time to do so. I have been building my site, and I also do website work for others. I enjoy both, but I still feel there is something more I could be doing. 🙂 I am always driven, but sometimes I think my mind is always trying to figure out the next big thing.
    Becky Ryan-Willis recently posted…New Clip – DreamWorks Dragons: Race to the Edge on Netflix 6/26My Profile

  5. Hello Rachel, What a Super list my friend, Multiple income streams is something I have always dreamed of and I am making this become my reality! It just seems everything takes me so long to get going, I know- one step at a time!
    Yeppers I did read Donna’s comment above and when I grow up I want to be just like her LOL

    Great Share.. OH Yes i took Me some notes.. Thanks Chery :))
    Chery Schmidt recently posted…Choosing To Build A Successful Online BusinessMy Profile

  6. Rachel,

    I have not visited your blog for many months and I am delighted to see the progress you continue to make.
    The images are catchy and appealing and you are truly a savior for people who are afraid to begin on their own.
    I love what you said at the end, to please not try to do all of these things at once. I have certainly learned that
    that is an absolute impossibility. Focus on one thing or a few things until you see some success before tackling other potential pursuits.

    Warmly,

    Dr. Erica
    Dr. Erica Goodstone recently posted…What are the Benefits of a Long-Term Business Relationship?My Profile

  7. Excellent list, Rachel! It’s a great place to start for anyone wanting ideas for how to improve or expand their business. Writing a book used to seem like a huge task, but not so much, now that we have ebooks. Most of us know more than our readers in some area, and if we don’t, maybe we need to focus on a particular area more.
    Willena Flewelling recently posted…Rabbit Trails and Time CapsulesMy Profile