5 Best Steps To Add Multiple Streams of Income

Aug 24, 2019

Image what it would be like if you could add additional streams of income to your business using your expertise.

Starting a new business can seem overwhelming – especially if you are a passionate expert in multiple niches. Being able to develop those areas of expertise into products or services will increase your income.

I struggled with deciding which packaged service to provide; should I only work with women or would it be too broad to work with both men and women? All of these thoughts kept me up at night.

After carefully thinking about my business goals – I decided to map out all of my ideas so I could visually see the connections that would make the most impact. Today – I am sharing income steps to monetize your niche expertise.

The goal is always to build a business that serves and supports others in their business so they can see success.

Thinking about my product and service development as a curriculum that I could develop – made it much easier to break out each step into actionable tasks.

I took the tools of being an educator, business planning strategist, and a project coordinator to identify a tool that would walk one step-by-step to identify their ideas and then to organize those ideas for further development.

Once I was done – I developed courses, intensives, ebooks, and other personal services that allow me to grow as an established business.

So – you are the expert in your niche and your expertise is a stream of income.

After these steps – you will be able to map out your ideas, structure them per audience type, and develop resources that can be added to your business as income-driven streams.

I will show you the steps that helped me to solve my fears and stopped me from feeling overwhelmed in business.

What is mind mapping and brain dumping?

When you are driven to complete multiple tasks and projects for your business – it can be both enjoyable and terrifying.

One of the most liberating and resourceful actions that you can take is to set aside time to focus on one core project so you can identify the various ways in which you could develop additional streams of income for your business. Imagine being able to strategize products and services that lead to both a clear outlook and more money for your assets.

The first step is always the hardest – but after you conquer it, the remaining steps will fall into place. Being an entrepreneur should have rewards – one of which is building a lifestyle with the ones you love that you also have full control of.

I will walk you through the steps to identify five additional streams of income – using your expertise. You will also have an opportunity to provide your best steps for making money and to be featured on my blog.

Why do apprehension and fear happen? 

We often fear the unknown. The tasks or ideas that we want to complete – but the unknown of how they will turn out can keep us fearful. The first step to being successful is – doing it scared.

That means as you complete the following steps that you think outside the box of fear and focus solely on the success of each idea.

When you develop a mindset that looks for the abundance – you can obtain it.

Years ago when I was working full time and planning weddings as a side business – I was pulling myself into numerous directions. I had to develop an online system to track both my corporate projects and also my business projects. In doing so – I was able to show other women how to develop their processes for streamline client experiences.

When I didn’t see how it all could be done and when I didn’t have a group of people supporting me  – I decided that the only way to succeed would be to make a plan. In doing so – I now have proven strategies that have helped other creative women to build their businesses.

These are a few steps for developing and building your business products and services.

Mindset Mantra: I already possess the expertise to monetize.

Follow each step – to identify 5 additional streams of income by developing products and/or services. Each step is defined based on the focus. Access the workbook HERE.

THE PIER SYSTEM

How to Add Multiple Streams Of Income – Using Your Expertise.

Step 1: Passion

What are you most passionate about? During this step, you will define the WHAT you can offer in your business as a product or service.

Step 2: Purpose

This step is key for developing the reasons WHY you started your business. Many times your audience will also have those same reasons for starting their business journey. Connect based on a common factor.

Step 3: People

What population do you want to serve? Recall WHO you wanted to serve. This group of people was appealing to you because of a particular reason – here you will recall the people you wanted to help with your product or service.

Step 4: Profits

There are numerous platforms, both social media and search engines, that you can provide your services. Determine 2-3 platforms that you will use to maximize your exposure. The key here is to select WHERE you can be most active without feeling overwhelmed.

Step 5: Productivity

Celebrate how much you have done!! The final step is determining WHEN your audience is most active online so you can make the most impact on your efforts. Share your content + increase your engagement when your audience is prime to engage with your posts, Stories, and Live interactions.

What’s Next?

There are 2-Steps to this exercise. Now that you’ve completed step one (1) Mind Dumping – complete step two (2) Mind Mapping in the workbook to see the strategy visually as a manageable plan.

The Last Thing You Need to Know about the PIER System is – It can be used for any task.

Now that you know my #1 secret that I use to be successful in my business – I would love to know how you will add streams of income into your business. If you would like to be highlighted on my blog – share your #1 secret for being successful in your business via the link below.

Looking forward to seeing your tips!