Biz Tips: How To Create Multiple Streams of Income

Here are 10 ways to diversify your handmade business: 

1. Retail Your Product – Consider selling your goods retail at brick and mortars. Also, setting up a free online shop is quick and easy with Storenvy, Tictail and Zibbet and perhaps even look into selling with Amazon and eBay.

2. Wholesale Your Product – Wholesaling is the sale of your goods, usually in large quantity at lower prices to a retailer for resale purposes. Do some market tests to see if this will be a good fit for you.

3. Write An E-book – Do you have knowledge, experience, information or expertise in a particular area that you could share with others? Then add writing and selling an e-book to your list of possibilities. You can find out how to write an ebook from numerous online sources via Google.

4. Create An Affiliate Program for Your Goods – You can reach more customers and add another income stream by recruiting affiliates to sell your product for you via sites like e-Junkie, or Share-A-Sale or Digital Delivery App.

5. Offer Consulting Services - Share your experience, knowledge and expertise by consulting with people on a one-on-one basis. If you are a business owner, you can teach others about blogging, social media outlets, pricing their products, opening an online shop, etc.

6. Become a Speaker – If you have skills speaking in front of an audience or think this is something you can do, then launching a speaking career would be another stream of income. You can speak at trade shows, conferences and sales meetings and earn money doing it.

7. Teach a Class or Workshop – Like consulting, teaching a class allows you to share your knowledge, experience and expertise with others. You can teach classes at local organizations, schools, businesses, etc., or offer an online class in your own internet based “classroom”. 

8. Sell Newsletter Subscriptions – If you have knowledge, experience, resources or information to share, you can profit from it by writing a newsletter and charging a subscription fee for it.

9. Become an Affiliate - If you have a blog, you can join affiliate programs and set up affiliate links to different products and services on the web. When someone signs up through your affiliate link, you get a small cut of their advertising revenue, which adds up in the long run. 

10. Sell Ad Space – Do you have great traffic on your blog or website, or oodles of podcast listeners? Then selling advertising is yet another option for your multiple streams of income plan.  Good luck!