In light of all the changes that are occurring in the world, there are many people that desire to make multiple streams of income in their businesses to give them the security that they need. As an entrepreneur, this should always be your goal and it is not as hard as you make think to make it reality in your life and business. Creating multiple streams of income without trying to use get rich quick scams, or doing something that is completely against your ethics can be your reality after you get clear as to where you want your business to go and how much money you want to make.
Implementing these 7 strategies will set you up to successfully achieve multiple streams of income:
1. Always have low priced valuable items to sell
These lower priced items is the way that you are going to be able to get your foot in the door to help your potential customers. This will give them a taste of what you are about and if you give them enough value, for a low price, they will be compelled to work with you further. When you are thinking about your lower priced items, your goal should be to turn a customer into a repeat customer.
2. Write a book
To clarify, writing a book usually will not make you rich unless you have a huge following and can get a book deal. But what it can do is help you to have a book sized business card that no one will probably lose or throw away and you will be able to make money off of that same book if it is priced correctly. A book that is written well and positioned correctly is a client magnet that can generate money from new and existing customers. It also gives you social proof to position yourself as the expert which can also bring clients knocking at your door.
“There is no greater agony than bearing an untold story inside you.” – Maya Angelou
3. Launch a virtual summit
Summits have been known to attract a nice sized crowd while giving you the ability to create multiple ways for you to make money. With a viable summit you will be able to make money upon registration, with partners that you have strategically partnered with, and if you have marketed it correctly and was able to draw in a nice sized crowd, you can choose to sell something during the summit.
4. Create an online course
Your ideal customers are hungry to learn about what you have to offer them. An online course makes it convenient and available. If you record it once effectively and give the value that your customers are looking for, you can use it again multiple times by just updating it by adding the best value and taking away things that are no longer working. Your online course can also be repurposed for other things that you can sell like virtual workshops, mini courses, and boot camps.
5. Start doing bi-monthly, monthly, or quarterly webinars
Webinars are amazing tools for you to make an impact on your audience as well as your pocket book. You can either do a paid webinar or a free webinar offering the people that are eager to work with you at the end an opportunity that they can’t refuse.
6. Create an effective up-sell
Effective up-sells help you give a person what they need that compliments something that they are already getting. Imagine that these people are checking out at a grocery store, they will see your valuable offer that is something that they now realize that they need and want. Think about how many times that you’ve walked into a store and didn’t know that you needed something until you saw it. Once someone sees the valuable item that you have for sale for a reasonable price, they will have that same spontaneous desire to buy that so many others have also had. Perhaps, you are giving them something for free and you have this great product or service that can go along with it. This is the perfect opportunity for you to introduce your irresistible offer and give them something priced just right for them to add value to what they already have. This strategy is best accomplished with an effective traffic generating plan. The more traffic that comes to sign up for what you have, the more people that will purchase.
“If you believe in what you are doing, then let nothing hold you up in your work.” –Dale Carnegie
7. Launch a membership site
Membership sites done correctly are amazing ways for you to give value for a reasonable amount and also have the opportunity to make a lot of cash. Depending on the kind of site that you create, members will be privileged to a certain amount of valuable content that you will give them on a monthly basis. These are usually with no contracts so members could cancel their subscription at any time. The good thing is that if you are giving great value and have a certain amount of members per month, you can build up a lucrative residual income that can bring you security while you build up all of your other streams of income. The very wealthy have said that you shouldn’t have less than seven streams of income and if you haven’t created your seven yet, utilizing these strategies will help you to get there.
by Andrew Festus Image Credit | Preston Smiles Former model & rap star turned motivational speaker, entrepreneur, and life coach, Alexi Panos is on a mission to spread positivity to all people across all walks of life. In this podcast she shares valuable insight on how her past life experiences drove her to become the person she is today. She also talks about the importance of a positive mindset , overcoming excuses and how to deal with lifes challenges with a smile on your face. Press ‘Play’ to listen to this podcast interview and learn how to live a life with no excuses:
by Andrew Abba Festus Image Credit: Joshua DeVries “Every decision you make affects someone very special: your future self” You’ve never met this person, but they are carrying the torch of your dreams. Life is hard for them too except their further along the timeline of life than you. Have you ever wondered what the future you will be like? It’s something worth contemplating through deep and inward thinking. When you give up on your dreams and quit, you’re not just hurting you right now, you’re killing the future you as well. That future you is bound by the decisions that you make today. One day you will become that future you and wish you could change that decision to quit. By then, it’s too late to change the past. There ain’t no rewind button on life. Do you really need to quit ? I know you think it’s impossible and your only option is to quit, but that’s because you’ve reached your breaking point. I’ve been there too. I’ve reached a level of failure that has
I had the awesome opportunity to meet with Adam Braun, a New York Times bestselling author and the Founder of Pencils of Promise , an award-winning organization that has built more than 320+ schools for children in poverty around the world. He is the #1 National Best Selling Author and has also been named to Business Insider’s 40 Under 40. Adam shares his advice on finding your purpose, following your dreams, overcoming failure and how we can all make a difference in this world. Listen to the Podcast episode below to find out how you can go from ordinary to extraordinary now! Begin each day with a completely selfless act. Most of your day will inevitably be consumed by responsibilities, musings and opportunistic ideas. But within your first hour of emailing, send a note connecting two great people who will benefit from an introduction to each other. Try sending someone a book you know they’ll love or text a friend to say you’re proud of their most recent accomplish
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