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3 Keys to Creating Multiple Streams of Income

The other day I was speaking to a good friend of mine who was struggling with her business. She kept creating one program after another and struggled to fill them.

My heart broke for her so I gave her a gift. I gave her access to my Package Your Passion With Ease Mentoring Program, which includes a bonus private coaching call (If you’re interested in learning more about this program, I encourage you to listen to this free webinar first. It shares a lot of valuable information that will save you a ton of time and money, and will also show you how you can join the Mentoring Program and save a bundle – just a little tip there:)

She went through the program and then we met for our private call. In less than an hour she went from ready to give up on her business to more excited than she’s been in years.

Believe me, I’m not a magician. I just asked her some good questions and shared some valuable feedback.

I can’t recreate the entire conversation, but here are the main keys we discussed to creating a more streamlined business that generates multiple streams of income.

1. Be sure you have a very clear niche. That means knowing exactly WHO you help, WHAT solution you provide and the outcomes you help your clients achieve, and WHY people should work with you.

Without this clarity, you’re just going to be spinning in circles. Go narrow and deep if you want to earn a lot more income and make marketing much easier.

Action: My friend got clearer on the specific solutions her favorite clients seek from her and why they choose to work with her.

2. Have a clear Standout Signature System. This is the process you use to help your clients get results. Think of it as your unique recipe or blueprint.

Your Standout Signature System is one of the most valuable resources you will create for your business. You’ll use it to make it easier to sell your services, as it allows you to take something abstract (like coaching) and turn it into something tangible and easy to explain.

It’s also the key to creating multiple streams of income. Once you’ve created your Standout Signature System, you can repackage it in different formats, at different price points and with different levels of access to you.

So rather than create all these disconnected programs that you struggle to sell, you now have a clear set of programs that allow your client to follow a clear path. That brings your clients better results, and you more income.

Having a disjointed set of programs not only makes it difficult to market, but it dilutes your brand and confuses your prospective clients.

Action: My friend is reviewing and streamlining her Standout Signature System and that’s what she’s going to focus on with her private clients and in her group programs.

3. Don’t create any program until you have a clear marketing strategy, or better yet, until you’ve sold it.

When I first launched Package Your Passion With Ease, I had absolutely no content created other than a welcome video. I did a webinar and 60 people joined the program. There’s no greater incentive to create a program than having 60 hungry clients waiting for your training!

Now when people join the program, they still get ongoing coaching and support but the content is all ready to go so they get everything at once and move through the program at their own pace.

Of course, I keep improving the program and sharing it through new joint venture partners, so it continues to evolve.

That’s another key – consider it a bonus tip. Create something once, perfect it and then do it over and over again. Forge relationships with joint venture partners who are excited about sharing your program with their communities. It’s a win-win-win – great training for their community, great affiliate income for your joint venture partners, and more income for you.

Action: My friend is reviewing her content and programs to see how she can best package and launch it for her community. She will also focus on building joint venture partnerships so she can share it with other communities as well.

And guess what? She shared with me today that she is not only re-energized about her business but she’s much more clear and confident. In fact, she just did some consultations and sold 2 packages of her services (vs. selling her time) and at a higher rate! That’s the power of having clear focus and a clear signature system.

I can share story after story with you of clients who have done the very same thing. If you want to learn more about how to do that for yourself, you’ll want to listen to my free new webinar! 

 

What other tips do you have for creating  multiple streams of income in your business? And if you have any questions or comments on what I’ve shared above, I would love to hear from you too!  Thanks – your comments are greatly appreciated!

{ 4 comments… read them below or add one }

Debora

Cindy, your information is just great! Thank you for your insight and valuable suggestions. The value premise is so important — knowing WHAT you help others accomplish, and HOW you do that! It’s so easy to wander through cyberspace, ‘grazing’ and offering tidbits. You help people get clear on things that will really help generate money! That’s so important.

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Cindy Schulson

Thank you Debora! I appreciate you sharing that. You’re so right. We can take a lot of action but if we don’t know WHO we help, WHAT we help them with and WHY people should work with us, all that activity isn’t going to generate the results we’re looking for.

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Kenn Schroder

I like this, “There’s no greater incentive to create a program than having 60 hungry clients waiting for your training!”

Sorta like burning your bridges or rather ultra accountability.

Another tip for multiple streams and fast credibility booster is to quickly create a book and get it on amazon (I used CreateSpace.com). You can create a small book, get a good title, then you can earn some small passive income and get the author title … and in time you can start getting reviews for it … up over 100 is good. Oh, doing it on create space gets it onto Amazon quite fast.

Reply

Cindy Schulson

Hi Kenn – thanks for stopping by and for sharing that. I had never heard of create space before. I appreciate the tip!
warm wishes,
Cindy

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