So you run a business, you’ve got really neat stuff, the necessary skill set, and loads of experience. How can you squeeze more all dollars out of it all?
While there are heaps of ways to create more streams of income, your best bet to get the strategy right the first time arround is to start by accessing your existing customers. You’ve got the database, so let’s stop wasting time and get down to business.
Step 1: Survey Your Clients
It’s doesn’t take a genius to know satisfied customers are the key to a successful business. So understanding what attracts them, or better yet, what they want is the perfect way to find out what other ways you can create cash flow from them. Just ask them via surveys or get your clients actively involved in questions and conversations via emails or social media. Keep your questions simple, but make sure they require more than just Yes or No answers because you would want specifics.
What do they want to see? What medium works best for them? What concerns do they wish to address? Regardless of the response, feedback may prove worthless if you don’t listen and take action. So, what better way to address feedback, questions and concerns than to get in front of those customers and hold a live event or workshop, right? Right!
Step 2: Hold Live Events Or Workshops
Nothing makes clients say, “this company truly cares about my opinion” or “they sure know how to act on my feedback” more than workshops and other live events. What’s more, it totally positions you as an expert in your field. So if you own a small design studio that focuses on graphic design, hold a short session about Basic Photoshop/ Illustrator Training, for example. And don’t forget to record your event because that’s how you create another revenue stream: by being able to sell that course as another product in your expanding range of services. Speaking of expanding your products…
Step 3: Expand On Your Products And Services
You’ve now transformed your years of experience into a live event and have video recorded it while squeezing attendee interviews in between. You can cut these videos into shorter ones and make them available on your website or YouTube for free, or repackage the entire thing and sell it for a price that both you and your customers will be happy with. While you’re at if, if you want a way to really your business authority, then get your creative batteries working to write a book.
Step 4: Write Your Way To Authority
Writing a book immediately makes you an authority on your subject matter, not to mention, a whiz in your field. By providing your target audience with your best material in a written format you can draw media attention, impress clients – existing and prospective alike, and even generate opportunities for paid speaking engagements. Sounds pretty fly, doesn’t it?
Even if what you can manage for now is a blog, that’s fine, too. Stick to a central topic, map out your content, write in post-sized bits, and before you know it, you have material enough to turn into a book.
In the game of business, it is imperative to keep your streams of income open and flowing – from all directions. Get a good grasp of what’s in demand by conducting surveys then marinate in the results and follow up with holding a live event. Record that workshop or seminar and add it to your expanding range of products and services, including writing a book. Sound a little overwhelming and not sure where to start? Contact us today to find out how we can consult and help your business start earning multiple streams of income.