Archive for October, 2009

Ideas for Building multiple streams of income

October 26, 2009

I taught the marketing session this past week of the Startup 101 course at Outside the Cube and had some very talented business owners and entrepreneurs join the session. In general, attendees in this course were really looking for some innovative ways to upgrade marketing efforts along with some exciting ways to re-craft and position their marketing message to customers. I was impressed to see that most of the attendees had more than one business going at the same time!

What was really exciting is that these existing businesses had the opportunity for multiple streams of income. We had some very creative discussions about how to create and drive additional streams of income. After some collaborative discussions from this past week, I’ve collected some thoughts on new ways to increase and build multiple streams of additional income with your business:

Live Events:
– Extending current services to include live in-person workshops, or programs giving you opportunity to share expertise, training and/or event information about your product or service. Package these live events so that you can provide them for more than one type of customer or audience.
– Hosting Rountable discussions and gathering key feedback from attendees which can then be prepared into a packaged report available for purchase on your website.
– Partnering with one or two other professionals to offer a seminar or workshop that can help to drive new leads, business-profit from event can be shared.

Building Value through Audio/Video Content:
– Build content CDs, recorded Webinars or Audio Teleseminars and package into an offer for customers. You may already have existing content in print or in presentations that you can use and re-position. Customers love using CDs, Teleseminars or Webinars to learn more about a new product or service and if they find value in what you are offering, they will pay to learn more.

Self-published e-books and guides:
– e-Books, booklets and mini booklets can be prepared as a download and packaged with other content CDs or standalone and available for purchase. Instead of handling the print costs associated with book publishing, create an online e-booklet and attach a price.

All of these examples above are fairly inexpensive to product and can be offered as downloadable products for sale available from your website!