When it comes to building a revenue stream that will keep your head way above water during the summer months you must consider implementing one of the thre continuity income streams listed in this post. Contintuity programs allow you to have a steady flow of estimated income on a monthly bases. This type of income stream allows you to enjoy your summer months, prepare for the fall and plan for the coming year with ease. The last thing I want to worry about during the summer is where my next check is coming from.
Here are a few simple and surefire ways to get in the income flow started today using subscription and membership-based continuity income streams.
1. Community Tribes
Last summer (I was on maternity leave, yes even as an entrepreneur I took time off) 60% of my income generated from membership based programs. Before the summer started I had created a membership based continuity program, that generated an extra $2k a month without me leaving my house, picking up my phone or pitching how great I was to a new prospect. First, I built a strong following of people who were interested in reaching the same desired result. Second, I created a learning platform for them such as moodle.org or ning.com. Lastly, I provided content rich information that produced real time results such as special reports, activity sheets and monthly calls.
Start out by creating a low cost membership based offer and charge anywhere from $9.95 to $47 a month. (using 5’s, 7’s and 9’s at the end of your price is a marketing technique I will discuss later). Make a list of the benefits of the membership and the problem that the membership program solves for both the individual and the business as a whole. You can include a few monthly calls, some expert interviews and special bonuses from other top professionals.
2. Content Packaging
Everyone likes to know if there is a quick way or blueprint to doing something better, quicker or stronger. Creating a subscription based income stream allows you to package a series of interviews, newsletters, CDs, tip sheets, templates and any other information of value to your niche market. Once you package this material think about the delivery of the contents. Will you be emailing, or snail mailing the content on a daily, weekly or monthly basis.
This helps you with re-purposing the information later on to create info products. Once again every business can package their intellectual capital and deliver it to a carved out niche who has a similar problem.
Many people are looking for the “business in the box” or the “marketing in the bottle”. If you can create a system that will support your clients in getting stuff done, they will stick with you for the long haul. This allows you to calculate a certain amount of income from a “done for you”, “set it and forget it” type of income stream. One of my biggest income stream hits in business is when I decided to do a social butterfly package for coaches and authors. I would create a 90 day social media outreach campaign and automate the complete process for them. I charged a reasonable fee and accepted only 10 clients per quarter. This increased my income by another 40%.
I want you to think about how you can make your clients life run a lot smoother. You can make life easier for you by either building a team or putting in systems and processes that will do the implementation work for you. This allows you to keep your creative ideas fresh.
Sidebar: We just discussed three continuity income streams that can turn your hot summer into a cool cash flow process while you kick back at the beach. Which one are you going to implement?
If you are looking for ways to build your business using simple yet effective strategies, join me on July 9th for the Call of Duty: Part 1: The Transition. This is a live seminar in NY. Click here for more information.