The Multiple Streams of Income Class
In this class we talk about practical ways that you can add more income to your freelance business. Some of you may be looking at ways to scale your income, while others may be trying to smooth out your cash flow on a month-to-month basis. In this Podclass, I unpack 6 excellent income streams to help you grow the business you’ve always wanted.
Podcast Outline:
[0:00] – Opening thoughts
[0:45] – Introduction to topic: Adding more monthly income to our business and stabilizing our income
[2:46] – Six Different Income Streams to Add to Your Business:
[3:08] – #1: Niche Expansion (Service Expansion)
– [3:26] – Example – offering ActiveCampaign services
[4:54] – #2: Consulting and Coaching
– [4:59] – Definition of an “implementer”
– [5:38] – Definition of a coach or a consultant
– [7:27] – The imposter syndrome
– [7:44] – Encouragement not to sell yourself short – You may know more than your clients do!
[9:08] – #3: Public Speaking
– [9:58] – Types of speaking opportunities
– [10:27] – How speaking can be another income stream
[10:55] – #4 – Affiliate Marketing
– [11:09] – Example of a successful affiliate marketer
– [11:27] – Definition of affiliate marketing
– [12:18] – Types of affiliate marketing activities
– [13:15] – The benefits of membership programs – how income can build
[14:10] – #5 – Product Creation (Digital Product Creation)
– [14:50] – Different types of products you can create:
– [15:20] – Courses
– [16:50] – Digital Books
– [18:14] – Subscription Business or Membership Site
– [19:36] – Ecommerce Business (e.g. Dropshipping)
– [20:44] – Software and Apps (e.g. plugins for WordPress, mobile apps)
– [21:17] – Printables (e.g. checklists, calendars, to-do lists)
[22:23] – #6 – Partnerships
– [22:36] – Practical examples of a partnership
[24:40] – Recap of the different types of income streams
[25:29] – Final thoughts and how to get on the notification list for Freelance University
Resources and tools discussed in this episode:
Pat Flynn’s website (Smart Passive Income)
The Smart Passive Income Podcast
ActiveCampaign workshop at Freelancer University
Freelance University Affiliate Program
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