Multiple Income Stream Ideas – Part 1
One of the major downsides to a service based business is trading time for money scenario that you are faced with every day. You only have so many hours available which means your income level is capped.
You may be looking for different ways to increase your income that doesn’t also increase your work load! This is where multiple income streams come in. Think of it as a way to add to your existing services or add passive income opportunities.
In this article we’ll look at add on services you can implement:
VIP Client’s – charge clients a monthly fee to get VIP service. Think about giving these clients priority service for the price of the monthly fee. Or, create packages that outline specific tasks and services you provide for the monthly recurring charge.
Monthly Maintenance Programme – offer a specific maintenance programme that includes updates each month, perfect for website designers.
Long Term Discounts – reward clients who agree to work with you over a longer term than your short term clients.
Client Coaching Programme – give clients a certain amount of coaching time each month for a set fee. This can be delivered by email, phone or membership site.
Check out part 2 of this article tomorrow which will look at the passive income opportunities.