More and more, business owners are wondering how they can make more money in their business. It's no secret that times are tough, so any additional income or business revenue is more than welcomed.
And although most of us want to be making more money, we're not exactly wanting to be working more.
I bet you'd agree with that!
No doubt you've heard the saying, work smarter, not harder splashed around. And you probably think that's cool, but how do you actually do this?
The answer, my friends, is revenue stacking.
The way I like to describe revenue stacking is when you monetise your expertise into multiple revenue streams. All of these streams feed into each other.
Think of your business income as a big flowing river. It's the lifeline of your business. Sure it flows when there's one income stream, but it may dry up or trickle at times. When you have multiple streams all feeding into it, your river is full and constantly flowing.
You know you're good at what you do, and you're already delivering what you do in a certain way. The idea behind revenue stacking is using your knowledge but applying it in many ways across your business.
When I started my business, I created a model that taught clients based on what I had learned and my experience to build systems, strategies, structure, and scale.
This was my signature model, and I did 1:1 coaching. I used this content when I spoke at workshops. I also built the Brand Builders Academy. I went on to write a book. And then started my podcast.
It's all my knowledge and lessons, but all presented in multiple ways to help others. Sure, some things (like my programs) are more in-depth as I work closely with clients on their businesses, but usually, I can reuse content across all my products.
What's the ONE thing you can do such that by doing it everything else will be easier or unnecessary? – Gary Keller
Have you read ‘The One Thing' by Gary Keller? Get onto it!
When you're good at something (one or two things), focus on that and put all of your effort, marketing, energy, and budget towards that one thing. This is something I tell all my coaching clients, and here's the most common response: ‘BUT, how do I build a multi six-figure business with just one thing?' And I'll tell you what I tell them – there are loads of people who have built multiple six, seven or even eight-figure businesses with just one thing.
It's about streamlining, focussing and becoming known for that one thing.
As a multi-passionate entrepreneur, I love doing more than one thing. That is, I deliver my content in different ways. I'm still technically focused on the ONE thing, but I'm using it in ways to create revenue stacking.
For example, I offer courses that bring in revenue. Then I have book sales and 1:1 coaching. My keynote speaking gigs can pay handsomely, depending on the year. And corporate training is tops it all up.
So, I'm using my knowledge and voila – working smarter, not harder! That's revenue stacking 101.
Most of you would know Tony Robbins, I believe. He's a perfect example of a revenue stacker. He teaches the same thing repeatedly and has multiple levels of how you can work with him.
You could start with an online event, then an in-person event, and join one of his programs. Each step costs more, and you receive more significant insights from his teaching. But, what he teaches is always the same. For me, it usually starts with someone buying my book, hearing me speak, or listening to my podcast. They'll then join a masterclass or a program to work with me on a deeper level.
And the more you work with a client, the further they'll swim down your stream with you!
Your platinum client is your ultimate person. They're the person you want to work with and look forward to catching up with. They want to work with you and don't care about how much you cost.
They want the impact you offer. They want transformation. They WANT to work with you.
Platinum clients are your end goal. They want to go deep with you and learn everything from you.
How many of you are creating amazing content but getting absolutely nothing in return?Yep, I see those hands in the air!
It's super common for business owners to put out a whole heap of content but have no strategic growth plan in place. Honestly though, it's because we usually don't have time to focus on our own businesses – am I right?
But if you start crafting and being deliberate about your content and business building and seeing how it all could work together, you'll start finding ways you can use revenue stacking.
For example, when you produce a video and put it on YouTube – don't leave it there. Strip it out, add to it and turn it into a podcast. Or have it transcribed and turn it into a blog. Then use the blog to get social snippets so you can share them.
And make sure you have a call to action – direct people to your masterclass, your courses, your membership.
When I'm booked for an event, I get paid (9 times out of 10). From the event, I secure more clients who have been inspired by what I teach.
I also have my books on offer (which I buy wholesale) for people to buy or for event organisers to bulk buy and use as giveaways. People who may not approach me on the day will often read my book and then enquire months later when they're ready.
So, from one event (which hasn't cost me much to be involved in), I get revenue from the speaking gig, the book sales and the new clients.
To start revenue stacking, look at your products or services. What are you offering? Can you blend things? Is something going better (and giving you more joy) than others?
I'm a big believer in finding your passion, and that will shine through. Your passion will come across as knowledge, and that's how you'll discover your platinum clients. You'll be putting your best work out to the world and creating the impact (and income) you want.
You need to be ready to work differently. To be open to possible changes for your business.
I 100% believe that the online learning space is only getting bigger. With the changes in our world, many people have been forced to review their lives. What are they doing? What else is out there? What do I want to do?
So, if you're out in the online world as the expert at your ONE thing, bam! You're going to find clients who love you.
If you're starting your business and don't have the foundations in place, then I invite you to come and join a supportive community of like-minded business chicks, give and get advice, and help your business grow in the Brand Builder's Academy. You can find out more here:
However, if you're ready to change things up and want to learn how to build a group coaching program or an online course that will connect with your audience, you've got to check out my Amplify program.
As always, if you have any questions or want to connect, please DM me at Suz Chadwick on Instagram.
In this video masterclass, I’ll share the three key areas you need to focus on to scale your business and build a bold brand so that you attract the client that want what you have!
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