How To Add Revenue Streams To Your Consulting Business
This was originally posted on my Seven Figure Consultant LinkedIn Newsletter. Subscribe today to get insights about how women are building powerful and impactful consulting businesses.
Do you have all your eggs in one basket? You offer one product or service and your business is reliant on you being there 100% of the time.
A consulting business is one of the simplest to set up but at some point, pretty soon, you are going to hit capacity. Your time is constant – once it is used up you can’t create more of it in your working week. But what you can do is find ways of delivering your service to your clients without you having to be present.
Once your business is fully booked, you need a more nuanced approach.
When you add new revenue streams to your business, you are adding a corresponding service, or maybe even a new service, to your business so that it either serves your existing client base more fully, or it allows you to broaden your reach. And the net result to your business is that more money flows in.
One of the reasons I love helping women consultants add more revenue streams to their existing consulting business is because it enables that dynamic we want to see more and more as the business grows – earning more by working less.
A key thing to remember is that there is no ‘paint by numbers’ when it comes to designing this kind of blueprint in your business.
In this episode of the Seven Figure Consultant Podcast I set out some of the key principles you need to know if you are curious about what this could look like in your business.
● Spreading risk in uncertain times Spotting the situations that could mean a change for your business
● Knowing when there is a genuine opportunity for growth and expansion in your business
● Engaging and listening to your audience
● Whether you are looking for short-term or long-term revenue
● Why you need to think about the resources involved in setting up a new offer
And let me know – is adding additional revenue streams something you are actively considering right now?
Free Report – The Six Elements of a Seven Figure Consulting Business
I’ve created a free PDF report called The Six Elements of a Seven Figure Business. It’s my most popular free resource and in it I outline the 6 areas of unscaled businesses that need to change in order to move past being ‘booked up and burned out’ and shifting into that higher gear that gets you cruising again.
It’s the framework that helps consultant women like you find their feet and get back to leading the business, rather than being buried in client work and back-end business operations.
Thanks for reading! I’d love to hear your feedback and future topics you’d like me to feature.