Whether you’re fighting a financial crisis or your appointment book is full, there’s always room to earn more revenue and support more customers.
You went into business to provide great services to clients while earning a comfortable income. As I write this, we are still in a business slowdown due to the COVID-19 epidemic. This life-changing experience has led me to create an educational webinar, Finding New Life For Your Business Amidst a Financial Setback. You’ll find out more about this in a bit.
Let’s Explore Avenues To Engage Your Clients and Add To Your Wallet 
Affiliate Programs
One popular example is to find a natural and productive relationship via an affiliate program. For example, a professional Organizer can enter into a commission-earning program with companies that sell organizing products. Organizers typically recommend the purchase of specific products they can personally attest to, so it makes sense to earn a modest revenue when the customer purchases that product using the Organizer’s affiliate link.
Almost any type of business can enter into an affiliate program, as long as there is a clear match. A personal example is when I entered Constant Contact’s Partner program. Since I was setting up email marketing accounts for customers to help their business, my bank account was delighted to accept commission on something I was already doing.
Sharing Your Knowledge
A second path to gain additional revenue is to teach what you do for those who cannot pay you to do it for them. If you are a Bookkeeper and come across very new businesses who cannot yet afford to retain your services monthly, it is ideal for you to teach bookkeeping basics either in person or online. Executing it through professional online tools, whether your classes are live or recorded, can be a continuous source of income for you without your having to travel anywhere. This is a tremendous service for those who need it, and likely easy for you to impart your extensive knowledge to beginner entrepreneurs.
Creating New Products
A third way to earn a stream of revenue is a bit more complex – but if you’re the creative type, you can design and create your own products that compliment your business model. A social media pro can put years of experience into designing and creating a Social Media Planner notebook and sell it online.
Exploring Your Passions
And yet a fourth avenue involves creative individuals who have a side hustle that has nothing to do with their main business. This often engages “the other side of their brain”. You may meet an accountant who is also a catering chef or an engineer who is a certified personal trainer. Isn’t it wonderful that there are many outlets for us to enrich people’s lives and earn additional income? The possibilities are endless, so put your creativity to work!
Earning More Also Helps More
Note that we’ve been talking about win-win situations here. All the channels we discussed gives clients what they need and want and are willing to pay for. It’s not about making more money by just inventing ways to grab more dollars out of wallets; it’s about finding what your clients really need to make their lives better, and deciding if and how you can make that happen for them.
Some business owners may initially “feel bad” about making these additional offers, but the bottom line is that when people have a need or desire, they will look to find a solution, fulling expecting to pay for it. They have goals and if you can help them achieve those goals, they’re happy to pay you for that experience. And if you’re too shy to offer, they will find someone else who will!
Come into exploring additional revenue streams while following your values, your mission, your passion, and you won’t go wrong. Your audience knows whether someone is just trying to extract more dollars or are coming from a place of sincerity and an honest desire to help.
What Will Work For You?
Review the strategies above:
- Entering an Affiliate Program
- Sharing Your Knowledge
- Creating and Selling a Product
- Following a Creative Passion with a Side Hustle
Which seems like a natural path for you to follow?
What steps can you take to begin your plan for increasing your income while helping your audience?
Adding to your revenue is one of the avenues I’ll be exploring in my new webinar, Finding New Life For Your Business Amidst a Financial Setback. It’s a free learning experience with plenty of time for questions and discussions with other small business owners. Plus, those who register and attend will get a small gift from me.
Register Here:
https://zoom.us/meeting/register/tJMrceqvpzsuHNBeYBj0T-x8MbkpVjIKhcVy
If you’ve implemented an additional stream of revenue amidst a financial crisis, I would love to hear about your experience! Reach out: Susana@clearpathstrategy.com