Archive for the ‘income stream’ Category
Do you think it is possible to build a business around your lifestyle? Do you think it's possible to be able to go on vacation for weeks at a time and still have an income coming in? So many business owners spend their lives tied to their business. So much so that any other way of business seems inconceivable. But what if it was possible? What would it feel like to have a business that serves your interests?
Can you imagine that while you were sleeping or eating your breakfast you could be generating revenue? This is exactly what's been happening for me over the past few weeks – I've been to Vegas, I've had a holiday at my favourite hotel with my two boys, and to top it all off, I've been to Necker Island with the most amazing entrepreneurs – not to mention, Sir Richard Branson! It's all a dream come true for me.
And all the while, my business is making me money. I've had orders continually coming in while I'm playing, asleep, conferencing and having breakfast! The thing is, I absolutely believe you too can set up your business so it serves you in the very same way. Many of my clients who have implemented my strategies are saying their lives and businesses are almost beyond recognition. They are working less hours and earning much more. They are enjoying vacations – being able to really relax while on those vacations. The best thing is you don't have to worry about being away from work, because your business never stops running. Even when you're on holiday, your business is earning you money.
Now when I talk about having a business that serves your interests, this is what I am talking about. I'm talking about creating an information empire that brings you consistent income streams. I'm talking about a business modelled on your strengths and your unique value. It means that you spend more time doing the things you love and as a result you really enjoy your work. You do business on your terms. You define the payment structures and are not scared to turn away difficult clients who delay in paying.
Ultimately you have a business that serves you in the best possible way. It gives you the financial and lifestyle rewards you've always dreamed of.
Is your business serving you? Check the items below and find out.
Your Business …
__ Brings you consistent streams of income and revenue.
__ Is built on your strengths and unique value.
__ Is one where you spend your days doing what you really love doing.
__ Earns you income even when you are not working. You could be receiving orders while you are sleeping, out jogging or away on vacation.
__ Is a business that doesn't tie you down. It gives you the freedom to enjoy a lifestyle that suits you.
__ Is a sustainable business model that helps your business to grow exponentially.
If your business just feels like hard work, maybe it's time to change how you are working. Instead of you being a slave to your business, wouldn't it be nice to have a business that serves you instead. If you build a business model that is based on your strengths and unique value, you will be surprised how enjoyable work can become.
Best of all you can enjoy consistent income earnings even when you away from your desk.
I'm here to help you every step of the way!
Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. If you'd like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.comTweet
Income streams are essential to building a high six- or seven-figure income. Ultimately, to be that successful, you not only need to determine your income streams, but also the order in which you should do them.
One thing you shouldn't do is trade your time for money. Even if you charge significant sums of money in exchange for your time, this type of revenue isn't a steady stream. It doesn't flow into your business without your physical presence to guide and propel it.
The bulk of your income needs to come from leveraging products, programs, events and other more passive types of income.
My own million-dollar plus business relies on no more than five income streams. I like to keep things simple, and these income streams do the trick. Here are some tips to help you implement your income streams.
Get really good at planning.
Plan at least one year in advance. Look for the two, three or four projects that will yield the big income – the projects that will take you easily to your income goal and beyond.
Determine which projects you're going to work on during each quarter, rather than month by month. You may find that you will be working on only three or four big projects across the entire year, but they will be BIG projects, with big revenue.
Connecting those projects so that one leads naturally to the other will also help to maximize your revenues.
By planning, you'll know precisely where the revenue will come from, how much you'll earn from each project, and where to focus your time.
Determine which income streams to implement.
Start by creating a product that requires no fulfillment from you. This cannot be a predominantly time-based product. The idea is to offer a product or program on your website. When the order comes in, the fulfillment house – the company that ships the product – fulfills the order without any further input from you.
Offer a Rolls-Royce program. Designed for your top tier of customers, this program is that extra-something-special that elite clients crave. It's set at a much higher price point, but they're willing to invest because of your credibility and the value you bring to the table. It's never too soon to offer your Rolls-Royce program; in fact, I encourage you to start at the top and actually create that program first.
Offer a continuity, or subscription or membership program. This concept turns a one-time sale into recurring monthly income because people are automatically billed once they sign up for the product or program the first time. This is actually one of the criteria big companies use to evaluate products sold on infomercials – there needs to be an ongoing element of continuity.
Big paydays are another essential income stream. Plan your year around periodic big paydays, such as live events, teleseminars and talks, which will bring in huge windfalls of cash to boost your income significantly.
If you're hesitant about these big paydays, allow me to inspire you: my first three-day event, with all the income streams that came from it, was worth more than $375,000. You need to implement all of your income streams so that you make money in many different ways from a single event. And if you're looking for more inspiration – be sure to register for the Event Money Machine – it's your last change to register for my very first telesummit!
Once you determine and implement your income streams, the experience will amaze you. There is nothing quite like that flood of income that comes in on a consistent basis.
Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.comTweet