After starting my business with a huge vision and no capital, I've had to get really good at using limited resources to increase my income by creating multiple streams of income. Whether you are a new or seasoned business, there are many ways to increase the cash coming into your business with low-cost technology. Years of study, practice and perfecting, I have learned how to leverage expertise into formats that are easily accessible to your clients and potential customers. Read on for 10 of the most effective ways I have found to make more money using low-cost technology.
Using the methods I will share also allows you to provide products at different price points ranging from free to your highest price points. By implementing the power of these ideas, you can reach customers who may not be able to work with you right now at your highest price point. This opens up your work to thousands of people who will remain in your "system" and increase their purchase amounts and frequency over time.
Here are the keys to making these ideas a reality:
§ An electronic method to capture credit, debit, and electronic check payments. I use Paypal because they have a business debit card that allows me to have access to the funds instantly.
§ An email list of your customers and clients. Make sure your website is able to collect an emailing list of your client's emails and first names. Compile a list of every past customer, client, prospect or business card you have collected. (Make sure to send an initial email giving them the option of not being placed on your list.)
Here are 10 new, fresh ways to create additional streams of income.
1. E-books. All you need to develop a good e-book is Microsoft Word and some great information that will make someone's life and/or business easier. Offer them on your website, via direct e-mailing, and on internet e-book directories.
2. Memberships. Creating clubs or subscription-based memberships will help you identify which clients would like more of your attention and efforts. Offering exclusive offers to these clients will continue to attract more and more clients and keep for life.
3. Books. Although books aren't new, print-on-demand technology is. You can create high quality books with no upfront investment quickly and use them to increase your credibility and cash flow. I use www.lulu.com and I've also read that www. booksjustbooks.com is another great print-on-demand resource.
4. CD's. Technology has enabled you to take creating CD's to new heights. With most computers now able to burn CD's and digital recorders, you can create CD's quickly and effectively. With a digital recorder, you can easily record CD's for purchase by your clients and potential customers.
5. Audio Recordings/Podcasts. You can also create audio recordings or pod casts that can be downloaded or listened to on your customer's Ipods or MP3 players. Make a list of the topics you are currently ready to share, create a script or talking points for each one. Release the "Ums" and "Ahs" from your speaking vocabulary and get the recording! You can create an audio library in a very short time.
6. Vodcasts/Video Recordings. Similar to pod casts, you can create video recordings with a professional videographer. Once you get your script or talking points ready, you can lay 3-5 in one hour and have them ready for DVD, website downloading and available on internet video directories.
7. Affiliate Programs/Referral Programs. While this is one of the oldest ways to create income, with technology, you can interest people from around the world in helping you introduce your products and services to whole new markets. You can become an affiliate for other programs that will benefit your customers or you can create your own affiliate program. Online Courses. - send out from your email program. Save names in groups. Send out once a week.
8. Pre-Paid Consulting Services. This idea is great for businesses that offer solutions with short turn-around time. With a subscription-type payment plan, customers gain access to high levels of information and special offers by paying a pre-paid monthly plan. As a result of their investment, they are given VIP treatment and access to your expertise.
9. Drop-in Phone Consulting. Create specific times during the week that your clients can call in to get help with their issues and challenges. You can capture payment information during the call and have them as a long-term client by following up to their needs. You can also do this with a live-call-in line or 800 number to capture calls from all over the country.
I want to challenge you to put some time aside and begin developing these additional formats and watch your income soar! Begin with the income stream that takes the least amount of time and money to have up-and-running. Once you have that one off the ground, launch the others. You can use the same teaching points and have it in multiple formats for your clients to access. They will thank you and you will be thanking them as you wake up in the morning and find order after order in your email inbox waiting for you to fulfill.
To learn the secrets to effective e-marketing to fully leverage these ideas, please read Ericka's article, "Getting Results with Heart-to-Heart E-Marketing (Electronic Marketing).
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