3 Ways To Ramp Up Streams Of Income


3 Ways To Ramp Up Streams Of Income

Is it just me or do the months always seem to fly by? But instead of looking at the year with a “glass half empty” mindset, let’s focus on the “glass half full”—because YES, there is still time for you to  grow your business this year. And even if everything is going great just how it is, remember that allowing your business to evolve builds sustainability within your legacy.

Here are 3 actionable steps for you to maximize these next few months by ramping up your streams of income.

  1. Launch a group program
    Are you still trading time for money? Is your 1:1 calendar completely booked out? 1) Congratulations! You have an incredible offer that is making a difference and providing value. But… 2) You are limiting your business to the number of staff you have, the number of hours in your day, the number of customers you can meet with on any given day. To scale your business, you need to find a way to earn income above and beyond the limitations I just listed. It’s time to launch a group program that increases your impact and scales your revenue. You’ll serve more clients than solely working one-on-one. That means more impact and more income…A win-win!

  2. Optimize client retention
    Acquiring new clients can be hard. But retaining clients is even more important. Offering additional consecutive value will keep clients coming back for more, growing with your brand, and telling their friends and colleagues to join, too. An alumni group (for clients who’ve already “graduated” from the groups as described in #1) is a prime example of cultivating client retention through continued community, support, promotions, and more. It’s a lower touch offer that retains the client and sustains revenue without you having to take the time to constantly find and onboard new clients.

  3. Create an upsell
    An upsell is an invitation for your clients to purchase an add-on or upgrade. A great way to do this is selling one-on-one time, bonus sessions, or extended community support to your group (see #1!) as a high-ticket VIP package. Digital assets like printables, calendars, templates, and eBooks are methods of passive income (money earned outside of your main income stream without a lot of effort) and also examples of the upsell technique, though the ROI isn’t as impressive as VIP offerings (i.e. You’d need 20 people to download your $50 digital asset to achieve the same revenue of a single VIP client paying $1,000). Upsells are a great way to build loyal, lasting relationships with your clients.

It’s never too late to start making a change in your life, your relationships, or your business. But don’t let another day go by waiting for the right moment or just continuing on your usual grind. Investing in projects that bring about diverse streams of income will be transformative for your work. Give it a try and see how your value—both your figurative worth and your literal revenue—multiply before your eyes.

Did you find this helpful? If so, I know you’ll love the business tips I share exclusively to my email list! Join the 15,000+ others who get bi-weekly business tips from yours truly in their inbox!

Deanna signature