Recession Proof your Business

Counting change to make ends meet? Want to make more money? Yep, sure do. But how do you do it? Well, that’s the part that gets most of us stuck. Really the answer is pretty simple: multiple revenue streams. Makes sense right? If you have a regular 9-5 job and its not bringing home as much bacon as you’d like, than you’d probably consider getting a second part-time job wouldn’t you?

Well, bring a self-employed entrepreneur brings about the same set of circumstances. If the project that is making you money isn’t cutting it on its own, than you may want to consider adding additional revenue streams. This idea is nothing new. In fact, its been recommended over and over again by top bloggers. Why? Because it works. And believe me, its not as complicated as it seems. If you have an online shop and a moderately popular blog you are already on your way.

Here are a few ideas… Start selling advertisements on your blog if you haven’t already, and try getting involved with some affiliates as well. That’s two revenue streams right there and that’s not even the tip of the iceberg. Think about seeking wholesale orders for products you typically sell in your Etsy shop. Or create other products to sell online (ebooks, ecourses, etc). Use your expertise to teach an online or in-person course. Pick up some freelance writing jobs. The list goes on and on.

Here are a few articles on the subject…

-Darren Rowse from ProBlogger makes a six figure salary and brings in income from more than ten different revenue sources each month.

-Tara Swiger wrote a guest post for Megan of Crafting and MBA on this very topic of creating multiple revenue streams. Its a must read.

–Twelve Ideas for creating multiple income streams from Freelance Switch.

-Check out the amazon book list for creating multiple revenue streams as well.

Have an additional tips to share on the subject? Share your thoughts in the comments below.

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Image via Fashion Fangs