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Online Business

How to Create and Plan Multiple Income Streams for Your Blog or Business

Amie Hamling, Owner at The Creative Blog Co.

11 OCTOBER 2017

Back in the day (am I too young to be saying that?), when I first started blogging, the only way new and old bloggers or website/business owners expected to make money was from:

  • Low-value affiliate links
  • Advertising
  • Sponsored posts

And your effort to output never matched the pricetag.

Relying on just one of these income streams earns you pocket change, unless you’re leading a large community or group of devoted followers.

What if I told you, you could plan out multiple income streams, and actually start making movement with your online efforts?

This post is a lil’ different to every other piece of content I’ve created on The Creative Blog Co., because I want to make it as simple as possible for you to pick and choose the multiple income streams that will work for your blog or business.

You can even pick up the business plan (click on the iPad below) just for the creative community to really dive deep into your brand and income options.

Services

Start here: a service-based business is an incredible launchpad into the world of working online and earning money from actual people and businesses.

It may get a bad rep for tying you to time/hourly rates, but with the right insight, skills and application, you can fulfil your business dreams.

Already running a service-based business? Perhaps add one of these service-based offerings to the mix:

  • Freelancing
  • Training
  • Speaking
  • Coaching
  • Consulting
  • Events / Workshops

Digital Products

This is a growing income stream, especially for already-established bloggers or business owners. Adding digital products to your service-based business can provide a ‘buffer’ for all the time you spend with your clients, whilst still serving your community and kicking business goals.

Think about how you can incorporate the following into your business:

  • Courses
  • eBooks
  • Audio (Podcasts, Webinars)
  • Video Workshops
  • Spreadsheets
  • Plans/Outlines

Physical Products

Anything is possible. In the age of Instagram, where selling and buying has never been so easy; an eCommerce component to your website may be the perfect income stream for your audience.

Think about what your audience may actually want. You’re already solving their problems through your brand, and if there’s some way you can make their lives easier with a digital product, get on it.

  • Books
  • Stationery
  • T-shirts, apparel
  • Planners
  • Print-outs

Affiliate Marketing

If you’ve ever had an AdSense account and a low-traffic blog, you know that making affiliate income is an easier-said-than-done strategy for most. However, if the product is right and the commission is high, recommending products or programs may just work in your favour.

  • Networks
  • Software
  • Course Programs

Subscriptions

This is an income stream that will either work really, really well or it will fall flat on its face. But without the risk, you’ll never know. I, personally, have opted-in to subscription models because of the low-cost barrier and the promise of new and exciting content each week or month. Some programs I’m lovin’ include Keep It Cleaner and Pursuit HQ.

  • Paid Online Communities
  • Premium Content
  • Apps
  • Coaching
And there you have it…

Creating and planning multiple income streams – not just relying on ONE way to make money online – is the way to move forward in the competing online business world.

Your ideas are unique to you. Heard of your ‘genius zone’? That’s what YOU know, that not everyone else has the same or as in-depth knowledge of as you do.

Share your passion and authenticity with the world and you will be rewarded.

Your challenge today is to pick one income stream from each of the categories above and create a model for your online business that dives into multiple income streams.

You may want to focus on one first before the others, and that’s fine, too. I do recommend finding your specific skillset or what you can offer your audience with a service-based business, and grow from there.

The Find Your Online Space free online course can help you discover that unique path to grow your online business through changing your money/blogger mindset, doing your market research, and writing copy that influences your community to BUY.

Get started today, creatives!