It was 10 years ago that I was working a corporate job and began my journey as an entrepreneur. It began initially as a side hustle, while I remained at my ‘9-5’ job. I worked on my new business in the mornings, during lunch breaks, after work, and on weekends—in my mind and heart, though, I was all in and ready to escape my life as a corporate employee.
When I created Identity Magazine, I actually didn’t have a clue how to proceed. I quickly found that the best strategy was to assign myself homework each night by writing down a variety of questions on implementing a new business to ask people who already had their own companies. In fact, I was fortunate enough to have family members that ran, and still run, successful businesses (shout out to Integrity Express Courier Service!) So, naturally I went to them as I commenced my journey and initial question-asking expeditions.
Fast forward…and here I am 10 years later, married to an amazing man, a mother of twin toddlers and making money from my very own business ventures!
The undertaking has required much time and hard work. And, for everything I have built thus far, I owe a debt of gratitude to many organizations of which I am a part of and from which I have learned. Those include: B.I.G (Believe, Inspire, Grow), Lady Savant Society, Savor the Success, and all of the podcasts, workshops, conferences, leaders, and books I have used as resources.
Throughout this experience, I’ve often been asked, “How do you make money, Susan?”
So, today, I am I’m going to share with you how I built multiple income streams that have, over time, resulted in continued financial success. I know that you CAN share the same kind of achievement, if you aren’t already!
There are several products/services that have become the revenue drivers that generate profit for me. It has taken me years to build these income streams (and I’m still at it.) I can also tell you honestly that I’m not even close to the many other digital marketing moguls out there in terms of financial gain, but I’m on my way. Oh yes, I will be a millionaire…Hey, it’s on my vision board, so it must be true! (wink).
Here then, is a list of all the various channels in which IdentityMagazine.net and I, as the Founder, create income:
1. Advertisers/Partners :: Companies who are looking for additional and affordable marketing will advertise on my site through:
• Banner Advertising: Companies will pay to have their banner advertisements on my website.
• Social Media Marketing: We work with several companies on social media posting. We help market their products/services by providing exposure for them on a range of social media platforms. This only works, of course, if they are targeting the same audience as Identity Magazine.
• Content Marketing: We collaborate with businesses on content/articles for Identity Magazine that can indirectly feature or highlight their product or services. We can work together and have fun, brainstorming how to best leverage my community to support a given company.
2. Deals4You Program :: This program was created because of all the emails we received to help promote cool products, services and entrepreneurs’ businesses, in general. With Deals4You, clients offer exclusive coupons and special deals and discounts to our community. We promote these offers in return for a yearly membership fee. It’s a win-win-win proposition because we earn a small amount of passive revenue, our clients get weekly exposure, and our community benefits from unique deals. Bonus: We have an affiliate program in which clients refer new advertisers and receive a 50% commission, (which can potentially render their Deals4You membership FREE!) So, a winning partnership comes full circle, baby!
3. Identity Magbook :: This was our first printed Magbook: part magazine, part book. The cover was designed to look like a magazine; we sold advertising in the back of the book like a magazine; and the inside was set up in typical book format. The Magbook is currently on sale on Amazon, Books-a-Million, and Barnes & Noble. We make money from online sales and, when hired for workshops/speaking gigs, Magbooks are included in our rates and provided as gifts to the audiences.
4. Paid Speaking :: For the past 4 years, I have been blessed to have been paid generously for the majority of my speaking engagements. Yes, I started out speaking for free because my passion is to inspire other women. Here lies a very important lesson in the scheme of things: I’ve learned to build opportunities, practice and progress.
5. Workshops :: I host a variety of empowerment workshops for women that continue to grow and evolve each year. Groups and organizations hire me to host these creative and unique workshops.
5. Graphic Design :: We only share this service with companies that advertise with us. We have assembled a team of professionals to do graphic work if it is needed for a client who cannot or does not want to provide their own graphic designs for advertising. We can up-sell that service, meaning it becomes another service we can offer for profit.
6. Amazon Associates :: This endeavor is fairly new for us. My husband and I had considered starting a side business, but it made more sense to build upon my pre-existing community and brand. We don’t push this service extensively because our other traffic is driven here automatically and our friends and family also support us by shopping through our Amazon store, HERE. This store has been established within our Deals4You program under “Amazon Deals.” We only sell items in our Amazon store that we actually use. From the foods we eat, to the books we read, to the workout DVDs and business equipment we use, and more!
7. Affiliate Marketing :: Some companies who advertise with us also have affiliate marketing programs. So, sometimes we sign up for their programs to garner additional income.
8. Get All A’s in the Game of Life, Quote Book Series :: This is our latest hardback: a 5×8 quote book which launched May 17, 2016 and was #1 Amazon BESTSELLER!! Learn more about there GetAllAs.com.
9. Conference :: This is my 3rd year hosting a conference—Identity LIVE– and this year our theme is The Retreat: Envision. Explore. Evolve. This becomes another way to provide an amazing opportunity for women—personal and professional development. Learn more at IdentityLIVE.net.
As you can see, I have developed a variety of different revenue drivers to help bring consistent income and healthy cash flow. By creating–and maintaining– these multiple money generators, I am able to yield a much more stable income, rather than the often rollercoaster-like intake that many entrepreneurs can attest to. On some occasions, especially in the early stages, a business owner can make $15,000 one month and the next month $5.00, so it’s important to be organized and spread income streams to set yourself up for success.
The name of the game is to NEVER give up.
In order to structure your business with multiple revenue drivers, first take a close look at what you have to offer OR, if you’re about to OR thinking of starting a business, make a list of all of the products and/or services that can be direct or indirect results of your main gig.
Jot down several ways that you can foresee making money for your business. That’s your starting point. Next, investigate each avenue through to trial and error—execution. Ask and research to learn as much as you can until you receive the results you want and need.
Finally, remember that our world and the economy are constantly changing, so recognize that your business, sales strategy and revenue drivers will also shift and evolve…AND never compare yourself to others. Use other companies as inspiration and guidance, but never compare yourself. Do your thing.
If you have any questions, I will always try my best to support and share more on this topic. If I don’t have the answers, I know LOTS of leaders and mentors who probably do!
Here’s to making lots of money —and peace of mind–in our day-to-day businesses.
Identity Magazine is all about empowering women to get all A’s in the game of life – Accept. Appreciate. Achieve.™ Every contributor and expert answer the Identity 5 questions in keeping with our theme. Their answers can be random and in the moment or they can be aligned with the above article. As a team, we hope to inspire and motivate ourselves and inspire you to get all A’s.
1. What have you accepted within your life, physically and/or mentally? What are you still working on accepting?
It’s been 10 years of hard work with many ups and downs. I continue to accept and embrace the journey because it’s such an amazing experience that not everyone gets or takes. I’m still working on accepting how often the digital world changes and evolves. It can be very frustrating…but it’s the reality of life.
2. What have you learn to appreciate about yourself and/or within your life, physically and mentally? What are you still working on to appreciate?
I appreciate YOU, for supporting this community!
3. What is one of your most rewarding achievements in life? What makes YOU most proud? What goals and dreams do you still have?
My most recent book, Get All A’s in the Game of Life: Insights Along the Way, Entrepreneur Edition. I can’t believe its finally being published on May 17, 2016.
4. We all have imperfections, so we think. The truth—we are all perfectly imperfect. What are your not-so-perfect ways? What imperfections and quirks create who you are—your Identity?
My many projects at once! I seem to like to and enjoy being busy and working on 3-5 projects at once.
5. “I Love My…” is an outlet for you to express and appreciate all the positive traits that make you…well… YOU! Sharing what you love about yourself will make you smile, feel empowered, and uplift your spirit and soul. (we assure you!) Identity challenges you to complete the phrase “I Love My…?”
I love my ambition to live, thrive, and achieve! I love that I go after for what I want and things I want to do. Publishing 2 books at the age of 35—I am so proud of ME! 🙂