Streams of Revenue to Add to Your Business Right Now

Or should I say “6 new streams of revenue to add”…without selling tummy tea or pitching your products like on a campaign trail.

On top of all the personal stuff you’re dealing with, it can feel overwhelming with trying to run your business as well!

My Ultimate Bundle® member-only community and inbox have been buzzing the past few weeks with all kinds of timely questions:

  • What do I do if a current client wants more flexible payments?
  • How can I quickly and safely setup an online course or membership program?
  • What do I need to know to take my services virtual? To setup a “pay what you want” product? To setup auto-fill contracts in my client portals?

I’m seeing women in our community add new streams of revenue as they setup new programs & products left and right:

  • a new virtual barre membership
  • SEO audits of your website
  • a self-study version of a group program previously offered
  • virtual versions of things they’d planned to offer in person

You name it, entrepreneurs are rising to the occasion and looking for ways to add cash to their business AND meet the current needs of their clients.

Maybe you’ve relied on 1 or 2 streams of revenue in your business up until now, but it’s okay to want to explore other options as well!

Wouldn’t it be nice to have the peace of mind of having money flow into your bank account from a bunch of different sources?

And luckily, I’ll make sure that as you add new avenues to your business, you’re legally covered with the right contracts and website policies.

Streams of Revenue to Add to Your Business Right Now

How To Make Multiple Streams Of Income

▶️ If you’re looking for ways you can add streams of revenue to your business right now, I thought I would share an oldie, but goodie! Check out my IG LIVE where I shared How To Make Multiple Streams Of Income.

In the IG Live above, I share 6 ways you can create new streams of revenue, without reinventing the wheel or spending months trying to set something up.

I’d love for you to comment below and let me know if the live was helpful! Can’t wait to hear what you think.

I don’t want you to confuse multiple streams of revenue with distractedness. You’ve heard of that shiny squirrel syndrome where you see somebody doing something online and all of a sudden you’re off to the races doing that thing, right? Well, I’m not talking about that! Adding a million different products or services to your business so that you’re running around like crazy and not really giving your attention to any of them is not the answer.

In my business, for example, I only work with people in two ways. I sell legal templates la carte in my template shop and then I have my signature program, the Ultimate Bundle®. In the Bundle, I pair my legal templates with my video trainings. That’s the thing that I focus the most time on and I consider my premium offering.

Premium Offering

The first stream of income you want to consider is creating that premium offering for yourself. I created the Ultimate Bundle® because after I think a year or two of selling a la carte legal templates, I would have sales of $350 here, $1,000 there, $800 here, $1,100 there and while it was a great way to get started, and inject some cash into my business, I was really hustling for all of those individual sales.

A premium offering for you could look different than it does for me. Your premium offering might be your one to one, a client package, like a coaching package or a big web design, like a custom web design project or something like that.

Be creative with this. This is where it’s really important that you don’t just do what you see online because if I had only done what I saw online, I never would have created the Ultimate Bundle®. I saw what was out there and I thought that there was a better way to do it, a different way to do it, that wasn’t being done.

Business Referrals

Referral relationships, like an affiliate relationship, is where people will give you a portion of money for you referring people their way. Now, I’m not talking about affiliate campaigns where you’re sending out emails to lists. For me, for example, this would make sense to affiliate my program with someone like an accountant or a money coach or a complimentary person who could also help my clients with something that they’re struggling with.

Sponsored Content

If you have a course and you share a resources page in that course, or on your website, you more than likely will have a resources page. This is where you could include affiliate links.

Now, of course, the lawyer in me has to tell you that you have to disclaim that and have the proper language in your website disclaimer. But, in this post, we’re just talking about revenue and overall you want to think about how you can provide additional value so that we’re not being spammy. We’re not recommending something that’s not even helpful or that we don’t even know what it is or haven’t used it ourselves. But things that you know that your clients need, there’s nothing wrong with you being able to get a percentage.

Entry Level Offer

An entry level offer can sometimes be referred to as a tripwire. A tripwire is typically something that you would offer like a resourceful PDF, a workbook, an ebook, something like that, that’s relatively low price but that’s related to your core offer. This can be a great way to connect with potential customers and build your list as well.

Speaking or Consulting Opportunities

Depending on where you are at in your business, presenting at an event could be an option for you. Not only is this beneficial for adding a stream of revenue, but it helps with networking and connecting with potential customers!

Freelance

Last but not least, this might not be one that you want to hear, but number six is about having a part time job or doing some independent contractor work yourself, depending on what your skillset is. So, if you’re a copywriter, maybe you can write for someone or you could offer to be a co-coach in somebody’s group, etc. There are all kinds of things that you could do to make some cash.

I’ve had a lot of conversations with women over the years I’ve been in business and a lot of them will say, “I want to start a business and I know I need to get it legally protected, but I don’t want to spend any money.” The Philly girl in me always wants to say, that’s impossible. It’s impossible to start a business or to run a business without cash. If you don’t have cash already coming into the business, we need to think about a way to get you that cash. Now, if you can create and sell some of these things that we’ve talked about and that does it, that’s great. But do not be ashamed if you have to get that part time job to inject some of that cash yourself. Ain’t no shame in the part time game.

Sam Vander Wielen Free Legal Workshop

Next Step: Watch my free legal workshop

If you’re ready to legally protect your business watch my free workshop ‘5 Steps to Legally Protect & Grow Your Online Business’ right now by saving your seat here.

In that workshop, you’ll learn: 

  1. How contracts can actually save your (vegan, GF) bacon — if you have the right one.
  2. What your website needs to be legally protected.
  3. How to keep copycats off your content.
  4. The mindset shift you’ve got to make if you want to actually grow your  business without looking over your (online) shoulder.
  5. The only way to form your business so that you’re personally and professionally protected.

Ready to watch? Sign up for my free legal workshop right here:

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