The Mindset of Money – Creating Multiple Streams of Revenue
Mindset is everything. If you can’t believe that you are capable of making “it” happen – whether that’s becoming a successful international speaker, world renowned author, a business mogul, or a billionaire – then it won’t. Henry Ford is quoted as saying, “Whether you think you can or can’t – you’re right.” So where is your mindset right now?
One of the benefits to being in business for yourself is the control you have over the revenue you bring in. The more streams of revenue you have, the more likely you are to be bringing in more profit. Want to have more money coming in? Then think like a billionaire! Don’t just have multiple streams of revenue – have your multiple streams of revenue divided into even more multiple streams of revenue!
How do you do that – and most importantly – do it right? Follow this simple 3-step plan:
- Master Your Message
No one wants to buy from a ‘Jack of all Trades.’ If you try to appeal to EVERYONE, you won’t attract ANYONE. When people are looking for someone to help them, they are looking for someone who does that ONE THING they are looking for. People are WILLING to pay for VALUE and EXPERTISE, so don’t sell yourself short. What is your Message? What is that ONE THING you feel a passion in your heart to do, and would do it whether you got paid for it or not? What is the BIG PROBLEM that people have that YOU have all the answers to?
When you know what that ONE THING is, then do THAT. Do it WELL. Do it BETTER THAN ANYONE else!
- Duplicate Your Delivery
The way you create multiple streams of income is to create multiple delivery options of the solution you have for that BIG PROBLEM people have. They are looking for answers, in a VARIETY of ways, and they are willing to pay for it. Find ways where you can make a one-time investment of resources that you can then earn money on infinitely. One of the best examples is to create products you can SELL to others, to help them solve their problem – or help them grow, learn, gain insight, become healthier, more profitable, happier, etc. Let’s take a look at some of the PRODUCTS YOU CAN CREATE – ONE TIME – and then SYSTEMATIZE that so you can reap a profit on it 24/7.
Products you can Create ONE TIME and sell MULTIPLE TIMES:
- Publish a Tip Book
- Publish a Full Size Book
- Publish an eBook
- Create an iPhone or Android Ap
- Create an Online Course or Webinar
- Do a Podcast
Once you create something – ANYTHING – you can use it, or bits and pieces of it, on your other platforms.
- Use quotes from your book, webinar, or podcast in memes on social media and link back to your sales funnel
- Broadcast a good testimonial about your product everywhere
- Tell stories about how your product helped a client who thought they were beyond repair
- Do giveaways with snippets of your product, with links to purchase the whole product – these are GREAT for LIST BUILDING
Other methods of increasing your revenue:
- Create a Members Only Group with monthly dues to have access to your reports, webinars, training, coaching, and more
- Conduct group coaching sessions (versus one-on-one)
- Find Affiliate programs and partner with them
- Build relationships with synergistic organizations and create a referral program with perks and commission fees
Become a Speaker
Create your story and your message in a dynamic, engaging keynote talk by taking at least a year to give it for free to networking groups, rotary clubs, local associations, business and more. Tweak it, update it, get feedback on it, and WORK HARD on making it GREAT! Then once you’ve nailed it – begin to charge for doing your keynotes. One keynote talk – when done right – can get you on 100+ stages a year with 5+ digit earnings! But you have to get good! And to get good, you have to be willing to start out bad, and keep doing it, until you are the BEST. ONE TALK done right = MULTIPLE CHECKS coming to you. Want help perfecting your talk? Check out Elizabeth’s Think Tank Day.
- Recognize Your Resources
The thing about multiple streams of income is that in order to make money, you also have to be mindful of SAVING money where you can. IF there is someone who can do something you are doing AT LEAST 80% as well as you can do it, then you need to DELEGATE that task so you can focus on your Mindset of Money – and take care of business. Here are tasks you can outsource easily, freeing up your time to do what you do best:
- Copyrighting / Blogs / Articles
- Editing / Proof reading
- Project Management
- Branding / Web Design
- Administrative Duties / Answer the Phone / Correspondence
- Social Media Marketing and Management
- Customer Relations
- Develop Sales Leads
- and SO MUCH MORE…
Once you begin to understand the MINDSET of MONEY in relation to creating MULTIPLE STREAMS of REVENUE, you will begin to see even more opportunities and possibilities out there where you will be able to help others with the knowledge and expertise you have developed.
There are no guarantees – but when you are persistent and passionate about what you do – there are also no limits!