“The average millionaire has 7 streams of income coming into their bank account at a time.”
Now when I first heard this, years ago when I was first starting out in my own business, 7 income streams seemed like a lot. But now, in my business at the time of when I am writing this, I have at least 5 different core income streams coming into my business each and every month on a recurring basis, and then I have several income streams in development and I have released and retired several others over the years.
Now that I have them, I realize it isn’t difficult at all. And every year, every month, every week, and every day – each income stream can increase, without your work having to increase along with it.
Now if 7 income streams still seems like a lot to you – I get it. I felt the exact same way when I first heard this. But my hopes is that what I am going to share today will help open your eyes to what is possible. I’m going to share an example of what 7 streams of income could look like so you can see just how attainable this actually can be for you to get setup!
Now, before I share these 7 streams of income with you, I want to recommend that all 7 streams all come in from the same audience, with your ONE business. This allows you to not spin your wheels learning the needs of many different niches. Instead, you will be able to go deep with one audience and provide them with extreme value! Also, As I’m going through this list, I want you to think about what that income stream could look like for you. Then, after you hear all of them, I want you to choose just 1 to get in place. Yes, I said just 1. Once you do the first income stream, you can do the next, then the next, and so on. You can’t get all income streams in place in one shot effectively. But when you add one, you gain growth. Then you add another. Then another. And the whole time, you are finding more ways to touch the lives of the people you serve, with more value and grander transformation, and in the process – your life changes too. More money and time freedom than you know what to do with!
Okay, so are you ready for the 7 Possible Income Streams You Could Set Up?:
Income Stream #1: Your VIP Service
You may already have this! If not, what is a service you can provide and do for individual clients on a 1-to-1 basis?
Income Stream #2: Your VIP Coaching Program
If you are a coach or a consultant, you may also already have this in your business. If not, what could you teach your clients on a 1-to-1 individual basis to help them get the results that they are after?
Income Stream #3: A book you write and release on Amazon and Audible
Do you have a lot of experience on a specific topic? You could turn this experience into a book and publish it on amazon and audible to bring in passive income for your business.
Income Stream #4: A self-study online course
What is something that your audience really wants to know that you can teach? You can create an online course and set up this as a passive income product that requires NONE of your time once it’s created and your marketing sequence is setup!
Income Stream #5: A membership program
Implementing a recurring monthly membership program into your business gives you the constant, recurring income every single month! You could release a new training each month, or a template or tool, or provide answers to questions asked – or you can do ALL! Whatever you decide, you want to make sure that you are dividing your time up to give you the amount of freedom that you want!
Income Stream #6: Your Group Coaching program
An easy way to scale your private coaching program is to take the content you teach in your private program, and go through that same content with multiple people at the exact same time. This is a great option for many people who may not yet have the resources to hire you on a private 1-to-1 basis. What’s amazing about a group program is that you can spend the exact same amount of time each week with the group program as you do with your private program, yet you can onboard as many people as you’d like! That means for every new person you add to your group program, it doesn’t take ANY MORE OF YOUR TIME! (Freedom + Impact + Income!)
Income Stream #7: Affiliate Income (100% Passive!)
This is one of my FAVORITE income streams. You can get multiple affiliate income streams in place. All you need to do is find a product or tool that already exists (that you LOVE) and would benefit your specific audience. Become an affiliate for them, and then promote this paid offer to your audience. You will then receive a percentage of every single sale you make!
These 7 ideas are just a start! You’ll want to find the 7 offers that are right for you. You could do less 1-to-1 and more passive. Or you can hire on and train a team to do more 1-to-1 work for you!
How do you know what income streams are right for you?
You’ll want to know your numbers.
Decide the amount of time freedom that you want, the amount of money that you want to make, and the amount of impact that you want to have.
Then whatever those numbers are, get paid offers in place for your business that will get you there.
Whatever you want, you can design your business to make it happen!!
What income streams do you like best?
Did you know that there are 3 steps to online marketing?
Press play on today’s podcast and Learn the 3 essential steps of online marketing so that you can make more sales in your business!
Today I want to share something that is really important for you to know if you want to bring in more sales into your business. When I first started out, I didn’t know this simple formula, so I wanted to make sure that since I now have figured it out, that I share it with you, too – so you can get it in place immediately in all that you do online.
When it comes down to it, there are 3 steps to your online marketing that you want to have in place in order to bring in new people and get them excited to buy from you and then convert them into a lifelong customer!
It is our job as entrepreneurs and the difference makers of the world to make sure that our marketing covers all 3 of the areas that I am about to share with you, if you want to be super effective!
Every single person that comes in contact with your brand goes through a series of 3 stages.
They go from cold, to warm, to hot.
➤ STEP 1
First Exposure to your brand (COLD LEAD)
When somebody has never before heard of your brand, and are coming across you for the very first time, and then they have their very first experience with you, they are considered a cold lead. Whether they find you through an ad, a media outlet, a referral, a podcast, your blog or website, or on YouTube, or any other way they could first come in contact with you, this is considered their first exposure to you. It is very very rare upon first exposure that somebody would just jump straight to buying from you. Yet, many entrepreneurs wonder why they are doing all of these things in getting themselves in front of their audience, yet nobody is actually buying. The problem isn’t the exposure. The problem typically is that they don’t have the other two steps in place, or are missing one of the other two steps. You have to have all three in place in your business in order to gain true traction. So, once somebody comes into contact with you, in order to take them from being what’s considered a cold lead to warming them up, you need to start building trust with your audience.
➤ STEP 2
Nurture Your Audience (WARM LEAD)
So, step 2 is nurture your audience, which will turn them into warm leads. You wouldn’t buy from somebody if you didn’t think that their product or program would help you, so why would they be any different? Start building a relationship with them, before every asking for a sale. Start helping them so that they can clearly see that you are a person that cares about their situation, and can actually help them achieve the result that they are after. How do you build this relationship? One of the best ways is to get their email address, and go through a series of videos or a challenge where you are helping them obtain a specific result, and then once they achieve this result, you have built up trust with them, and when you build trust, you have warmed them up! Now, it’s time to invite them to take the next step with your paid offer. Once they have been warmed up, they have already decided for themselves at this point whether or not you can help them and whether or not they are ready to buy from you. So invite them to purchase, and those that do have turned into a HOT lead for your business.
➤ STEP 3
Purchase Your Paid Offer (HOT LEAD)
Now, that they have purchased, it is time for the most important job of all. With your paid offer, the MOST important thing is to deliver on what you promised, and then some. You want to blow them away by bringing them the results! You want to keep your clients happy. Because when you take care of your clients and they see results in their life because of the work they have done with you, you bet that they will be talking about you to others who need what you are offering, and then you start to snowball this 3 step cycle and grow bigger and bigger and bigger!
Our job in our business is to make sure that each of these areas are first setup in our business and then once they are set up, our job is to continually make them better and better. But if you don’t have these setup yet, you just need to start. You just need to begin!
Do you want to know how to make more while working less in your business?
Press play on today’s podcast and learn how to go from stressed out and overwhelmed to doubling or tripling your current income and creating more time freedom in your life!
Does it feel like there’s no way you could increase your income because you can’t seem to find enough time for the clients you currently have?
There’s a better way. I’m going to share it with you! I’ve got my coffee, and Walter, my little Chihuahua and Italian Greyhound mix is here snuggled on my lap with me. So let’s dive in!
I’m really excited to share this with you today, because this is truly a game-changer. This is the same strategy I help many of my clients implement and in less than a year many are able to double and triple their income AND work less at the same time.
Make More, Work Less
It’s about putting forth extreme focus on your CORE result you provide your clients with. What is that step-by-step pathway?
Do the paid offers you currently have in your business align with this?
If not, then in the next 12 months, the fastest way to growth is to trim the fat in your business so you can focus on the one core result that provides transformation in the lives of your audience.
Here’s what I tell my clients that have brought them BIG results:
➤ Focus on one 1-to-1 paid offer.
Do you provide a service or a coaching program?
If so, how can you make it better? How can you bring more value to your audience?
Are you valuing your time enough with your pricing? How many spots do you have open each month for new clients to work with you? Do you have it setup on a monthly package so you can have consistent income coming in?
➤ Create a 1-to-Many paid offer
With your 1-to-1 paid offer, unless you hire a team to do the work for you, there will always be a ceiling to your earning potential because there is only one of you and only so much time that you have to work with. So, the way to wealth is to create a paid offer that can help many people at a time, without sacrificing any of your time whenever you have a new person purchase.
This looks like:
↝ group coaching
↝ self-study online course
↝ digital products
➤ Setup 1 evergreen funnel for each of these two paid offers
This will give you FREEDOM where you create a marketing funnel that educates your audience in depth for you and sells your paid offer while you sleep.
➤ Choose 1-2 core marketing avenues to give value and point to your marketing funnels.
This looks like:
↝ Facebook ads
↝ Facebook groups
↝ Facebook page
By using this strategy, by this time next year, just see how much your income has grown and how much MORE time freedom you have!
You deserve to create a life that you love. A life full of time freedom to take off whenever you want, have the income you want to have so that you can experience all that life has to offer you, so that you can be there for the people who matter the most, and just enjoy your life! Your business can provide you with this life. You just have to design your business to be able to provide you with this.
The worst thing is to be stuck running a business that is running you. Where you feel like no matter what you do, it’s never enough and you are always feeling stressed because you’re always behind.
Your business should be serving you, giving you time freedom and impacting lives at the same time, and it can!
It shouldn’t be sucking away your joy. And if it is right now friend, You can break free! You don’t have to stay where you are.
You just need to choose to take action on implementing this strategy!
If you need any help with this, or have any questions at all, please reach out to me! I am here for you!
Want to Know How to Make $100k?
Press play on today’s podcast and learn 4 ways to make your first or next $100k in your business!
Today I’m going to share how you can make your next $100,000 with your business. And I’m not going to be sharing just one way, or two ways, or even three ways! No, I’m going to be sharing 4 ways you can make it happen for yourself so that you can take any one of these ideas, or a combination of these ideas and run with the one that you feel most drawn to creating for the people that you help. Choose the idea that you feel will be the most valuable to your audience in helping them reach the result that they want, while at the same time giving you the time freedom that you want.
One of the biggest milestones entrepreneurs want to know how to reach, is how to make $100k. You may be there too. This could be your first six figures that you are just ready to reach in your business. Or, maybe you’re already making this, but you just aren’t sure how to increase your revenue without working more hours or hiring more people.
I hear you! And what I’m sharing today will help you!
I have coached many consultants, coaches, online service providers, authors and speakers through this process, and today I’m going to share some numbers with you, so I would definitely grab your business journal and a pen to jot these numbers down. And if you don’t have a business journal, I highly recommend getting one because it’s so so nice to have all of your ideas in one place!
These numbers will help you to see what’s possible for you and how simple it really can be to reach your next $100,000 in your business. I love numbers and I love playing with them all day long! They inspire me so much because of what the numbers mean. They mean a greater lifestyle for my husband and daughter. They mean I get to create fun memories with the people that I love. The more money I’m making, the more people it means that I am helping and transforming more lives and businesses for the better.
Okay, so here’s how to make $100k
First, you need to know the problem that you are solving for people. Once you know this, you can create different ways for people to work with you and solve the problem that they are facing. Now, onto four different ways you can make $100,000.
The first way you can make $100k…
You could take the problem that you solve for people, map out all of the steps along the way from where they are now to where they want to be and turn it into a 12-month private coaching program where you work with one client directly. Or you could provide a done-for-you service for your individual client. Let’s say you would like to charge $2,000/mo for this paid offer. If you charge this amount, which is very normal in the coaching arena or high-level service arena, then all you would need is have 5 people become your client to be making well over $100k a year! And if you didn’t want to charge $2,000/mo, but let’s say $500/mo for a service for example, then all you would need is 20 people to be making your next 6-figures!
The second way you can make $100k…
You could take your previous paid offer, and package it in a way that can help several people at once in a group coaching format. Let’s say you make your group program a 6-month program, and you price it at $500/mo. That means in order to reach $100k in your business, all you would need is to coach 34 people! That’s it. Let’s say you had this program going all year round. This means you would only need to enroll 3 new people a month into your program! You can so do this!
The third way you can make $100k…
You could take a portion of your group program, take out the live calls, and turn it into a self-study online course that doesn’t require any of your time once you create it. Let’s say you price this course at $297. All you would need is to have 337 people join total to make $100,000. That equates to only needing to bring in 28 new people into your course every month! That is totally doable once you have a good funnel in place.
And lastly, the fourth way you can make $100k…
You could create a monthly membership program. My clients and I love these because they are typically sold for a low-tier price anywhere between $19-$99/mo and they don’t have to require that much work to run! They give you recurring monthly income month after month. There is security financially when you have multiple income streams in place. For example, let’s say you have 500 people in your membership. Well if one of these people decides to cancel, you won’t be hurt by it at all because you still have 499 people paying you every single month. So let’s say you create a membership program where you give your members 1 thing every month. Whether that’s a tool, a template, a training, a Q&A session, whatever. It depends on your business. Let’s say you create this, and to be a member it costs $49/mo. Well in order to reach $100k, all you need is 170 people to join! So if you can get 15 new people to join each month – which you can totally do – then by the end of the year you’ll have enough people in your membership to make $100k.
YOU CAN DO THIS!
And of course there are so many other ways you could take what you’re already doing in your business and package it up to provide the most value to your clients as well as to your life.
Everything you do in your business, I challenge you to run through these TWO filters:
The first is: Does this idea serve my clients and bring them great value?
The second is: If so, then does this idea serve my life? Does it provide me with the amount of financial security that I would like and does it provide me with the time freedom that I need for my own self-care and time with the people that I love?
If either of these two answers is a “no”, then it’s back to the drawing board.
This is your life my friend. Your life is short and it is precious. You deserve to live it to the fullest expression of yourself.
The reason why I shared these today was because I believe that you should never feel stuck in your business. And many entrepreneurs do. Whether it’s stuck because you’re not finding clients at all. Or stuck because you don’t like the clients you have and feel burnt out. Or stuck because you’re just overwhelmed with a huge workload and have no time freedom… Wherever you are currently at, if you don’t like it, I want you to know right now that there is a reason why you don’t. It’s because there is a desire for more. A desire for something that is better suited for you. And you can get there.
If it’s in the depths of your heart, then it is available to you…
You just need the proper tools, strategy, and unwavering dedication to the vision, until your dreams become your reality and you live into it.
So I challenge you to do that today.
I hope that this has served you and that you go ahead and choose your first paid offer to bring you to making $100,000 with your business so that you can begin living the life that you want! I would love to hear what that paid offer is! Feel free to email me or join my free facebook group community to let me know!
I can’t wait to hear from you! And if you have any questions or ideas for content you would like me to cover in future episodes, let me know! I am here for you. I hope you have a great week and I will be back with a new episode again next week!