I know times are hard. Crikey – you can’t move for doom & gloom stories from the media – energy crisis, cost of living crisis, tomato gate – and don’t get me started on Egg Wars. It’s tough out there. But small business owners are made of tough stuff. We have to be. We ARE our businesses – we ARE where the buck stops. So being made of tough stuff is part of the gig of being a small business owner.
One of a successful small business owners best weapons in their arsenal is adaptability. The ability to look for new opportunities, new challenges and rise to meet them. Successful small business owners know that they need to keep one step ahead. That’s just one way that working with me as their business coach helps them do just that – having an external pair of eyes on their business and helping them see new ways to take it forward.
When things are tight, it’s easy to be seduced by additional sources of income. But the reality of side hustles when you are already running your own business is that they often get side lined. You have to be really committed to working another external income stream to make it a significant source of income – and, if you are doing it for someone else, like I do with PartyLite to fund my own, extensive candle habit, then you are earning money for someone else too (I’m OK with that – I get what I want from being a PartyLite consultant, which is more candles. Lots of candles…..
So before you leap into a side hustle for someone else, take a look at what you can monetise within your own business first. Here are some ideas:
Mini Courses
What do you know that you can turn into something you can sell? I currently have two products I sell through KAPOW! in addition to coaching packages – my Supercharge Your Productivity Kit, and my Customer Audit course. I have several more in the pipeline this year, including Product Audit, Networking Audit, Super Client & a new version of Supercharge Your Business Bootcamp. Online & on-demand courses are a great way to create an additional income stream within your own business.
EBooks/Self Published Books
Same applies for ebooks and Kindle books. If you know stuff, you can write a book about it. You can use that book as a lead generator or as product to sell – it’s up to you – but it is another way to create an additional income stream for your business.
Branded merchandise
I currently have a great range of merchandise that promotes KAPOW!, but am working on something new that isn’t about promoting KAPOW! but uses something from it to create a great range of clothing & accessories I can use as a further income stream for my business as well as my online courses & productivity kit.
What do you know that you could turn into a product or service you could create an additional income stream from? If you’re not sure, why not book a FREE mini session with me & lets have a chat about it. It might surprise you.