You get it.
Setting your business up with the right foundation and multiple sources of revenue flowing through is key...but I have seen this backfire for many that move with an idea, and forget to take these three things into consideration.
1. What's your mission? My philosophy: one mission, many vehicles.
Your business serves a purpose. You've likely figured out your niche, who you're serving and what problems they need to solve. You're likely on a mission to serve as many people as possible who have that same issue. So the question becomes - is this new project/source of revenue in alignment with your mission? You'll have a much easier (and way more genuine) time implementing it if it is!
2. What's the model? Does this new stream of revenue require you to trade your time for money? Is it a set it and forget it type deal? Does it grow exponentially over time? Looking closely at these areas is going to help you assess whether or not it's a fit for you. If you're looking for a life of less work and more freedom, you'll want to keep that top of mind when making decisions.
3. Will it flow? Is this new stream of revenue a natural fit into the sales funnel/process of your current business?
For example - A Personal Trainer who is always recommending people head to the nearest health store to pick up supplements, could instead consider aligning with a supplement supplier and making those recommendations for their own line. It flows naturally and saves the client time and energy as well!
There's so much more to consider but these three are biggies! Are you in the midst of creating additional sources of revenue in your business?
Wishing you so much love and abundance!
Natalie Colalillo is the founder and CEO of Happy Healthy Women, a global collective of women entrepreneurs who see happiness, health and success as one full circle. Her heart's calling lies in bringing amazing women together and empowering them to step into their greatness. With over 20 years of experience in both wellness and business, Natalie is also a Plant-based Lifestyle & Business Coach specializing in empowering Solopreneurs to establish and succeed in their dream business. Starting Happy Healthy Women and coaching others to success has been the most fulfilling of her projects, as she feels fortunate to work with such incredible women who are living their dreams and changing lives.
Comments will be approved before showing up.