Posts Tagged ‘Market share’

incomestreams

Determine and implement your income streams and enjoy a flood of income on a consistent basis.

Income streams are essential to building a high six- or seven-figure income. Ultimately, to be that successful, you not only need to determine your income streams, but also the order in which you should do them.

One thing you shouldn't do is trade your time for money. Even if you charge significant sums of money in exchange for your time, this type of revenue isn't a steady stream. It doesn't flow into your business without your physical presence to guide and propel it.

The bulk of your income needs to come from leveraging products, programs, events and other more passive types of income.

My own million-dollar plus business relies on no more than five income streams. I like to keep things simple, and these income streams do the trick.   Here are some tips to help you implement your income streams.

Get really good at planning.

Plan at least one year in advance. Look for the two, three or four projects that will yield the big income – the projects that will take you easily to your income goal and beyond.

Determine which projects you're going to work on during each quarter, rather than month by month.   You may find that you will be working on only three or four big projects across the entire year, but they will be BIG projects, with big revenue.

Connecting those projects so that one leads naturally to the other will also help to maximize your revenues.

By planning, you'll know precisely where the revenue will come from, how much you'll earn from each project, and where to focus your time.

Determine which income streams to implement.

Start by creating a product that requires no fulfillment from you. This cannot be a predominantly time-based product. The idea is to offer a product or program on your website. When the order comes in, the fulfillment house – the company that ships the product – fulfills the order without any further input from you.

Offer a Rolls-Royce program. Designed for your top tier of customers, this program is that extra-something-special that elite clients crave. It's set at a much higher price point, but they're willing to invest because of your credibility and the value you bring to the table. It's never too soon to offer your Rolls-Royce program; in fact, I encourage you to start at the top and actually create that program first.

Offer a continuity, or subscription or membership program.
This concept turns a one-time sale into recurring monthly income because people are automatically billed once they sign up for the product or program the first time.   This is actually one of the criteria big companies use to evaluate products sold on infomercials – there needs to be an ongoing element of continuity.

Big paydays are another essential income stream.
Plan your year around periodic big paydays, such as live events, teleseminars and talks, which will bring in huge windfalls of cash to boost your income significantly.

If you're hesitant about these big paydays, allow me to inspire you: my first three-day event, with all the income streams that came from it, was worth more than $375,000. You need to implement all of your income streams so that you make money in many different ways from a single event.     And if you're looking for more inspiration – be sure to register for the Event Money Machine – it's your last change to register for my very first telesummit!

Once you determine and implement your income streams, the experience will amaze you. There is nothing quite like that flood of income that comes in on a consistent basis.

Bernadette Doyle specializes in helping entrepreneurs attract a steady stream of ideal clients. If you want to get clients calling you instead of you calling them, sign up for her free weekly e-zine at http://www.clientmagnets.com

If you’d like to know more about making money with your events, register for her free Event Money Machine Telesummit.

How To Set Up Your Business So the Media Contacts YOU

sfbarns

Recent studies show that 79% of all major media find their resources and story ideas from blogs and the Internet. So, yes, the major media really will call you… but only if your web presence has instant credibility and the ability to stand out from the crowded pack.

On this call Bernadette is joined by Suzanne Falter-Barns. You’ll learn how to attract calls from some of the biggest media available today, as well as major publisher book deals.

Join us for this call!!

MARKETING* MASTERMIND Call

Tuesday, 31st August, 2010, 8:00pm UK Time (3pm EASTERN, 12 noon PACIFIC)

TOPIC:   *How To Set Up Your Business So the Media Contacts YOU*

This call is FREE for my hundreds of Marketing Mastermind and Stepping UP! members. They also get the CD and transcript of this call at no extra charge, plus a tonne of other member benefits – such as access to our online members forum.

Not a member?   Then join the Marketing Mastermind Group today so you can take advantage of this call and all the other member goodies each and every month.

I look forward to "meeting" you on our call.

Best Wishes

Bernadette Doyle
www.clientmagnets.com

PS - Even if you can’t make the call, all Mastermind members receive a FREE CD of the call as well as a digital version of the audio and transcript! Take advantage now.

I'm absolutely certain, that as a business owner you are emotionally invested in your business.   Perhaps starting and operating your business was a realization of a lifelong dream.     This amazing dream will certainly inspire and motivate you.   But, did you realize, if you are not prepared, then that same dream can also set you up for emotional injury that can cripple you and drain the life from your vocation.

successmountainThere's a good chance that you've already felt the downtrodden lows and the exuberant highs that come with being a business owner – but have you polished your ability to pick yourself up, dust yourself off, and push forward after you stumble?   It's the key to your business success.

I want to share the story of Ken, as a way to illustrate my point:

Ken is highly enthusiastic about his new business.   He's dreamt of this since he was a boy, and he's anxious to make his first significant paycheck, doing what he loves.

He rushes into a dynamic marketing campaign, following the leads of some other local businesses that he views as successful.   He sinks a boatload of money into it and waits.

But the marketing campaign is largely ineffective.   It turns out that his target audience isn't looking where he's advertising.   He immediately falls into a plummeting, emotional spiral as he dwells on the thousands of dollars that he's lost.   His emotional low lasts for months.

The failed campaign didn't hurt Ken financially (he still had plenty of capital with which to operate), but the taste of failure tainted his daily businesses dealings as he fell lower and lower into the emotional dump.

The campaign didn't have to have the affect Ken assigned to it.   Business people everywhere have tried and failed, but the differences among them lie in their attitudes toward those setbacks. Did they allow the setbacks to attack their emotional wells, draining them of motivation?   Or did they consider the setbacks to be forms of inverted commerce…paid-for experiences in what-not-to-do?

Any failed attempt can be viewed in either of these two ways.   The right way, and the emotionally, financially, and successfully lucrative way to view setbacks is with a positive attitude.   Know that each one teaches you about something that isn't right for you, or right for the situation in which you used it.   In retrospect, you'll find that this kind of knowledge is, in fact, priceless (making the money you may have lost seem insignificant).

So, in summary, keep these points in mind when casting off on a new business adventure:

• Study your target audience, their needs, and your offering to make sure your product or service is in line with a definitive need.

• If possible, test your theory or idea first.   You'll feel better about your effort, even if it fails, if you've prepared well.

• Don't invest more money than your business can afford to lose.

• When you make your move, keep your expectations high, but don't allow them to be so grandiose that a simple setback can bring your dream crashing down.

• Understand that great business people everywhere have tried and failed in the process of elimination.   You, too, can be great if you understand that not every attempt will be a stellar success.

• If you do experience a setback, get your heart out of it and insert some brainpower:   "How can I use this experience to increase my chances for success next time?"

Ken's money wasn't lost.   It was simply invested in a learning experience that would come back to him from a different direction.   But, unfortunately, because he couldn't view his setback in this light, that money (and the experience) was lost forever.

Remember to set goals for yourself, but never give those goals the responsibility of holding up your entire business (or your emotional state).   Know that you will experience setbacks, but with emotional resilience, you'll be able to view them for what they really are:   set-ups for success!

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safe and secure Your privacy is our #1 priority and your details will not be sold, given, traded or rented to anyone else.