Dreading an upcoming bill and need a cash injection pronto?
Kinda over your current offers, but don’t know what to do next?
Know your audience is dying for something new from you, but don’t really want to launch a massive project right now?
I hear you – and today, I’m here to lay out exactly how you can set up & start profiting a new income stream this week.
The good news? Adding a new revenue stream doesn’t have to take forever. You can add a little extra ca-ching to your bottom line without launching a monstrous new project. Here are some quick and effective offers you can set up quickly and start profiting from just as fast:
1) Run a Live Paid Training or Masterclass (then Resell it)
Need a quick cash injection? Host a webinar on a topic in your area of expertise. Just whip up a quick landing page, hook up your payment processor (so you can charge a registration fee) and then show up at the scheduled time to deliver your knowledge in a condensed format. You could also create slides, if that’s your jam, but it’s definitely not required.
You’ll not only generate income quickly, but also build your email list and attract potential new clients, too. And? You can re-sell it for passive income later, too.
2) Purchase a PLR Product
Don’t want to create an offer from scratch? You don’t have to! Private label rights (PLR) content is available all over the interwebz. When you purchase PLR content, you’re essentially buying the ability to re-sell the product as your own. (There are sometimes other stipulations – so be sure to read any agreement carefully.)
Some PLR products even come complete with marketing materials, so you not only don’t have to create the product, but you also don’t even have to come up with the marketing for it, either. Hello, time-saver!
3) Small Digital Products
Since we want to get this digital product set up quickly, you’ll want to think small.
What will take the least effort to set up and/or what you can easily outsource?
My suggestion? Repurpose content or video you’ve already created (like bundling up a few past paid – and complementary – trainings into a larger bundle).
Or take something you already use in your business – like that epic “New Client Onboarding” Trello board – and create a version for others to buy & use.
Other tiny digital product options include templates, checklists, or short instructional guides. These products require some upfront effort, of course, but can be sold indefinitely.
4) Power Hours or VIP Days
You know what the #1 thing you can sell right now is-without any (or much) upfront time or creation? Your knowledge, of course!
Power Hours are basically exactly what they sound like: an hour of your time for a set fee. Power Hours can work for all types of businesses, from copywriters to life coaches.
The key is to keep it simple. You shouldn’t have to do much to start selling ‘em: just write a quick sales page (keep it in Google Doc format), set up a scheduling system and payment processor and choose a meeting platform.
VIP Days are another easy-to-sell option. (I even offer done-for-you VIP Day Scripts if you don’t know where to start. This one is all about helping your clients reach 10k months.)
Don’t have the time or desire to chat with new clients live? You can also offer pre-recorded reviews, critiques or audits (like a Pinterest audit or sales page review).
All of these offers are simple and straightforward to set up and deliver, which is key if you want to get a new revenue stream up stat.
5) Join an Affiliate Program (or Five)
If you’re here, it’s clear you’ve got great taste. 😉 So why not share products you adore and get a cut when your peeps fall in love with them too?
Join the affiliate programs of other businesses whose products or services align with your audience’s needs and/or interests. Take a look at your fave software, apps and even programs/courses you love. Do they offer an affiliate program with commissions? If so, consider joining and promoting them to your audience. You can promote them anywhere that’s easiest for you – through your email list, blog/website, social media, etc. – and earn a commission.
As an example, I love sharing the tools I use in my business with my audience. (I have a whole “Tools I Love” page you can look at here.) This also saves me time when people ask what tools I recommend for #allthethings. When you and your audience have similar needs, it can literally pay to recommend products or services that complement what you offer.
You might not wake up to thousands in affiliate commissions every morning (although with the right-sized audience, it’s a possibility!), but these nice little bonus commissions can definitely be a very welcome surprise. And in most cases, it’s as simple as filling out a form on the business’ website.
6) Pre-Sell a Group Coaching Program
I’ve got great news about this one: Not only is group coaching a great place to start scaling your business and maximizing your time & energy (hello, more free time), you don’t actually need to create much upfront to start selling spots (save for a sales page and a few promotional emails).
Most group coaching programs are personalized to the individual group’s needs and content is usually created on-the-fly as the members ask for it. You’ll need a theme or angle to start, of course, but you don’t need to create loads of content upfront like you would with a course. Plus, group coaching usually includes a community element – so lots of times other members wind up helping and coaching each other (rather than all relying on you).
Trust me when I say implementing just one of these new streams into your model will help you create a more sustainable business that respects your time and energy limits. You’ve got this, and I’m cheering you on every step of the way. Let’s turn those ideas into income – preferably this week. 😉
