I love talking to talented, tiny business owners about revenue streams. Revenue streams are all about looking at who your people are, and figuring out what other problems you can solve for them. How do you figure out what revenue streams to add? You listen. Listen to what your people are asking for. They may not, right off the bat, say what they’re asking for, but they may describe it very well.
What are five revenue streams that you can add to your business in the next quarter? These are not things that you should add in one day, they should have thought, but I will definitely say that within three months, you can start to add some of these. I would add them on one at a time to your tiny business.
We’re going to start with my favorite because it’s fun. And that is Merch. Especially if you have a community around your business, if you have a podcast, if you have a blog, if you have something that people feel like they want to support or be a part of, Merch is a great thing. What is merch? It’s merchandise. Think t-shirts, like my talented, tiny business owner T-shirts. Think mugs. Think tote bags. You could go crazy. You could have things like shower curtains. If you have more graphic things, maybe you’re a photographer. You could start offering your photographs on different fun items. These days print on demand makes things very easy. You need help with that. Let me know.
The next is an event. You can do something as small as a workshop on zoom, as big as a conference. You can charge to do a great party. You could do luncheons and have ticket sales. There is a vast variety of things that you could do event wise from virtual to in-person. You could do them once a year. You could do them once a week. You could do them in destinations. You can do them where you live. Think about what events you could add as a revenue stream for your business.
Now, we come to more of the written work, the printable, readable type things. Books that probably will take more than a quarter but you can get started on it. Or you can do a small Kindle book, very quickly. Worksheets, downloadable PDFs. It’s such a great way to start to add revenue streams. Workbooks can be created as a collection of all of those worksheets. If you are in a knowledge industry, this is a great place to start to add a revenue stream.
We now come to courses. You can host them on your website, you can have them on another website. You can put them up on Udemy, you can use something like Kajabi. There are many, many, many ways that you can offer courses. You can start at a simple 40-minute course going up to a mega $1,000 to $2,000 master class, teaching how to do what you do. There’s a vast variety of courses, but they are a wonderful way for anybody from product to service businesses. You can start to create courses that complement what you do.
Again, you want to remember that you’re trying to offer more things to your people. You’re not trying to reach a new audience. So what do your people have problem-wise that you can solve?
The last are drop shipped products. Many, many, many small business owners out there have fantastic products that you can sell through your website. So if you already have active traffic, what else can you offer your people by other designers and business owners? You can start to add these to your own website and you’ll be supporting other people while supporting your business. You don’t even have to ship them. It’s like print on demand that you can have the person who you are purchasing from do all of the heavy lifting. You are simply selling that item. And that that too is a great way of adding a revenue stream.
Think about all these things. Think about your people. Think about their problems they are having that need to be solved. If you need help and want to work together 1:1 to add a revenue stream to your business, book a session, I would love to help you. And if you or not always or not already in the Doers Shakers Makers Facebook group, come on over and join us.