When I started my “30 in 30″ project on Sept. 1st, I set out to create a new revenue stream every day for 30 days. At first, it seemed so daunting, but I knew if I could get the flow going, it would pay off. And, although I have quit reporting it on the post, it continues. It’s working.
My hesitations before I started, ones you may relate to, were many. One, did I have it in me, the creative juice to come up with that many ideas? Two, would my focus on revenue distract me away from my passionate mission? Three, would it work to actually bring in more revenue, or was it a silly exercise in busy-ness?
I can tell you that it has been working, solidly evidenced by the fact that I had “inbox” money waiting for me from an overnight sale from one of the streams I set up. Cool. And, several readers have suggested that I create an e-book about it as one of the streams, so that others could have a step by step guide to doing it too -more on that later this month – yes, I am doing it. In the meantime, pre-release of that upcoming e-book, here are some simple ideas to maybe get you started adding revenue opportunities to your online presence too.
1. Affiliate products
This is where you sign up with a company to be a commissioned sales person for their products. The process is normally free (I don’t join any that aren’t) and the company normally provides banner ads, links, email templates, and just about anything else you need to promote a product. You fill out your contact info and they give you a unique affiliate ID# which is embedded in the code they provide you. They do most of the heavy lifting on the set-up.
You can promote affiliate products as simply as doing a book review and including a text based link on the book title that leads to your Amazon.com affiliate link. Subtle, helpful, and easy. You can find products that you use that you can recommend in good conscience and add a link to those, or review them in a blog post. It’s important that you don’t just sell things to sell them, as your customers will hold you responsible for their experience. Only support things that you believe in and you’ll be fine.
2. Sell something you are already doing for free
If you have a talent of writing, for example, then put a price on that and offer it. If it’s congruent with your overall business model, offer introductory services that will allow you to get a customer and collect a fee to start a relationship with them. You don’t have to charge full market price on it, especially if you only offer it for a limited time or to a restricted access audience, but quit giving your talent away.
Think of it as positive cashflow advertising. Normally you pay to advertise. This way at least you collect a little something and you give your potential clients a sample taste for a sample price to allow them to get to know you and your work. If you continue to develop other offerings that leads that satisfied client to the next level, you can stand to make quite a bit on that lifetime relationship. Start charging for what you already are doing for free.
3. Repurpose and re-release previous material
First off, please understand that I am not suggesting that you recycle poor quality work. But, just because a product you create isn’t made from completely new ideas today doesn’t mean it’s not useful. Sometimes, packaging together material into a kit, perhaps adding an update to bring it all together, is very profitable. Making an audio recording and/or a video demonstration of a pdf report you created works great. Pulling together a series of blog posts into a book or special report can be successful.
The main idea is that you understand that because it’s old to you doesn’t mean it’s not of use to someone’s audience. As an expert, we sometimes get jaded that our beginning material doesn’t speak to our evolving audience, but just remember that every day a new beginner is born and they need help bridging their knowledge from zero to where you are. Even if you do not attract a beginner audience, find someone who does and let them sell it for you. Share some of the money and you’re set.
I hope some of these ideas will spur you to get creative. Use what you already have, the things you already believe in, and the things you already do to lead you to fun and easy ways to generate revenue. Even if your main goal is to communicate/educate rather than make money, you still have costs to pay. Get some help with that by giving more and sharing more. Besides, you can always choose to give any money generated to your favorite charity. It’s so needed and so worthwhile!
Together, we are stronger.
Vicki Flaugher, the original SmartWoman
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