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
- E-mail support
- Three-, six-, or twelve-month programs
Group Coaching and Consulting Programs
Private Retreats (Live or Virtual)
- Half Day
- Full Day
- Multiple Days
- Small Mastermind groups
- Your Signature System delivered via audio, PDF, DVD or any combination
- e-Book detailing a problem that you solve
- e-Course that you taught live
Write a Book
- Single session
- Multiple sessions including a Q & A session
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:
- I can generage income while I am doing other things. Leverage is when we are generating money whether we re working or not.
- 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.
- I can generate recurring income
What services or products have you added to your business to generate additional business?