Every business needs to have mutiples income sources….whether you’re a blogger, product seller or service provider.
Here are 10 streams of income you can create:
1. Wholesale your product – If you only sell your product at retail, consider branching out into the world of wholesaling. Wholesaling is the sale of your goods, usually in large quantity at lower prices, to a retailer for resale purposes.
2. Create an affiliate program for your product – You can reach more customers and add a nice passive income stream by recruiting affiliates to sell your product for you. Affiliate programs can be created for physical products or digital products using sites like e-Junkie or Share-A-Sale.
3. Write an e-book – Do you have knowledge, information or experience in a particular area that you could share with others? Then write an e-book and sell it. Not sure how to write and sell an e-book? Check out How To Market Your Ebook-Everything You Need to Know Make Money From ePublishing by Sarah Mae.
4. Offer consulting – Share your knowledge, experience and information by consulting with people one-on-one. For example, if you’re a successful graphic designer, you can teach new designers how to set up their website, price their packages, buy the software, bill clients, create a portfolio, etc.
5. Speak – You can speak at conferences, trade shows and sales meetings and earn money doing it. Learn how from Chris Brogan, speaker extraordinaire, right here.
6 Sell newsletter subscriptions – If you have knowledge, experience or information to share, you can profit from it by writing a newsletter and charging a subscription fee for it. Last January, Chris Brogan started a weekly newsletter called Blog Topics. He charges $9.97 per month and now has 480 subscribers.
7. Sell advertising space – Do you have great traffic on your website or blog? Have tons of newsletter readers or podcast listeners? Then sell advertising. Learn more about selling advertising in Anna Viele’s awesome free ebook.