Kim Kirmmse Toth - Small Business Coach

Do You Have Enough Revenue Streams in Your Business? Do You Have Only One?

By Kim Kirmmse Toth

Click here if you prefer to download this article as an audio.

If you don’t have more than one revenue stream please read this article carefully!

By having only one income stream you are putting yourself in financial danger.

Let’s say you just work on 1-1 with clients. (And you wouldn’t be if you were a client of mine :))

What happens when times get slow, like in the summer or holidays? Where will your income come from? We all need income right?

Plus, with only working 1-1 you are constantly looking for new clients and not only can that be a pain, I don’t want you coming across as desperate for clients because you will push potential clients away.

There are many ways to add another or more income streams to your business, whether it’s a coaching business or other business. You don’t see restaurants with only one food option. You don’t see hardware stores with just hammers. In many ways your coaching business is no different than that.

Let’s talk about some options for you. You might create your Signature System. Take a look at what you do with your 1-1 clients. They may come to you for different desired results but my guess is if you look closely you will see you can create a ‘system’ of what you do with them. (I can help you with this if you want)

Then you take your Signature System and do a free call, a free Teleclass. You record it, maybe even get the Transcript done and you sell it as a product.

You can take any expertise you have and do the same thing. Do a free call, record it, Transcribe it and you have another product to put on your website and all over Facebook and whatever other social media you use.

You could do a VIP day. This is a day (4-5 hours) that you do on the phone or in person. You take a good look at your expertise and pick one or two topics from that, that you think others would be interested in learning about. You could get a group together or doing individually. Sometimes individually is easier than trying to get a group together.

Clients LOVE these days. I have done many of these, individually and groups, all with great success. There is another income stream and since it’s your expertise, it shouldn’t take too long to get it ready. Design an outline of the day and provide some handouts.

So, there are 3 examples of how to add another revenue stream, or two, to your current business.

There are many more, of course, but this is a start for you.

I hope this has been helpful and you get some creative ideas for yourself and have success!

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