Over the last few years, I’ve met hundreds of women
all over the country who want to finally stop talking and start doing what it
takes to build a business doing what they love. And what I’ve noticed is that
many women in our community aren’t even aware of all the opportunities that are
out there for them to create multiple streams of income based on their passion,
skills, expertise and experience. So I wanted to give you a dose of inspiration
and motivation that will help you build your business with less stress and more
confidence.
As my gift to you, I’ve put together a summary of
the 10 different streams of income you can create based on your passion, skills,
expertise and experience. Now, these are not just theories or random ideas.
These are all areas that I’ve actually made money in through both of my
businesses over the last six years. I hope you find them helpful as you
brainstorm strategies to earn more money in your business this year!
1. Freelancing
You can earn income through offering
contracted services in a specific area such as photography, web/graphic design,
personal styling, copywriting, editing, social media management or personal
training. You can offer your services by the hour or in a package, depending on
what you offer. As a freelance writer, I was paid a monthly fee for producing
several articles per week for a career website.
2. Consulting
You can get paid generous fees for
advising businesses, nonprofits, churches and government agencies in your area
of expertise. Consultants typically provide key deliverables as part of a
time-bound contract, which typically runs for a few months to a year. As a
nonprofit consultant, I maintained two long-term contracts with organizations
that borrowed my brain and my time for 10 hours per week.
3. Speaking
You can build a lucrative stream of
income as a keynote speaker or workshop leader for conferences all around the
world. It’s a great way to make a difference with your message AND get paid to
travel at the same time! I’ve been a professional speaker since 2008, with more
than 100 clients from New York to Nebraska who have paid me to teach, inspire
and motivate their audiences. I suggest you start by speaking for free at local
events and attracting paid gigs from there.
4. Training
You can earn a good living as a
trainer for the staff or members of businesses, associations, nonprofits,
churches or government agencies. Training is usually done with a smaller group
than you would speak for at a conference, which allows you go more in-depth
with a 90-minute, half-day or full-day session on a specific learning goal. As
a trainer, I’ve worked with staff to get them up to speed on social media, show
them how to manage millennial employees and build their leadership skills in
the workplace.
5. Coaching
You can help people all over the
world through coaching in person, on the phone or via Skype. The five most
popular areas are life, career, business, health and relationship coaching.
Most coaches either charge by the hour or create packages of sessions to help
clients reach their goals over a period of one month up to a year. As a life,
career and business coach, I’ve helped clients change jobs, improve their
lifestyle, switch careers and build businesses doing what they love.
6. Online classes, courses & programs
You can earn income by teaching what
you know via teleseminars, webinars, homestudy programs and audio/video
trainings. I’ve been teaching online classes since 2010 when I was still an
adjunct professor in DC. What I found was that I could make a lot more money
with my own courses than I ever would teaching part-time at a university! Once
you establish yourself as an expert online, you can begin to offer
opportunities for your tribe to learn from you. Setting up a blog and writing
useful articles on a weekly basis would be a great way to start building your
audience!
7. Physical products
You can add physical products to your
business to earn additional income. Items like t-shirts, jewelry, mugs, purses,
CDs and DVDs are becoming easier and easier to sell due to advanced online
technology. You can post your items on Etsy or Ebay, then ship them out when
you receive orders. I’ve sold branded Happy Black Woman t-shirts and mugs
through Zazzle over the past year – people love giving them as gifts!
8. Books and ebooks
You can create another income stream
by adding books to your business, in either paperback, PDF or Kindle format. I
have self-published both a paperback and an ebook on PDF and Kindle. The
process is relatively simple and the revenue potential is huge if you can build
a following and a brand related to your book(s). The paperback book that I
co-wrote back in 2010 is still producing passive income with sales on
Amazon.com!
9. Blogging
You can earn money with your blog by
participating in affiliate marketing or placing advertising on your site. I’ve
been blogging since 2007 and I’ve seen several hundreds of dollars of
advertising income come in on my best traffic months! The downside to this
income opportunity is that you do have to post often and be getting a decent
amount of traffic to your blog to really see some profit. So it’s not the best
option for those just starting out, but the potential is huge for adding
another income stream through your blog.
10. Live events
You can bring in additional income
through hosting your own workshops, conferences and retreats. They can be local
or national in scope from a three-hour workshop to a week-long retreat! I held
my first paid event back in 2011 as a weekend career training intensive that
brought 11 attendees from all over the country. If you have valuable knowledge,
resources and tools to share, people will be excited to come learn from
you in person.
Last year, I brought in 30% more
revenue than I did the year before, all because I had multiple streams of
income coming into my business. I highly recommend that you implement at least
one of these additional income streams so that you can grow your business and enjoy
the freedom that comes along with being a successful entrepreneur!
About the Author:
Rosetta
Thurman is a nationally-recognized author, speaker, mentor and coach dedicated
to empowering women through personal development, leadership and
entrepreneurship. She is the founder of Happy Black Woman, a supportive
community that helps women create lives of happiness, success and freedom.
Rosetta
teaches women, step-by-step, how to find their purpose, take action
on their goals and build businesses doing what they love, all while
becoming happier and more fulfilled. Rosetta’s clients and students value her
“tough love” approach to helping them achieve powerful breakthroughs in their
lives.
Rosetta is an
avid traveler and currently resides in beautiful Honolulu, Hawaii. When she’s
not writing or teaching, Rosetta enjoys good food, good music and a good mai
tai. Preferably all at the same time!
Connect with Rosetta at the Unlimited You Weekend April 10-12, 2015. www.unlimited15.com
