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Are You Generating These 3 Types of Income in Your Business?

By Katrina Sawa

Republish: EasyPublish™ Published: 19Sep2009 Word count: 588 Viewed: 380 time(s) Get Free Content For Your Site

One thing that comes up so often when I speak with my coaching clients is that they aren't maximizing their income generating opportunities. Most believe that all they can make is $75,000 or maybe $150,000 but hardly anyone (who isn't already exposed to this way of doing business) ever imagines they could make $300,000 a year or even 1 million!

These 3 types of income, some of which could be so easy to produce and start selling, most people don't 'see these things' in their own businesses which is why it's good to have a coach; someone who can see 'what's missing' in your business, where the holes are and also where the opportunities are too.

Often times I see entrepreneurs selling ONE product or ONE service and only in ONE way, like 1 to 1 coaching for example and then in this economy they're struggling because that ONE thing is their bread and butter.

However when you add multiple streams of income in various ways, you can often double or triple your revenues with very little extra effort.

They don't teach us this in business school though and it certainly isn't the 'norm' out on the streets to pick it up as an entrepreneur. But once you're shown HOW this can be done and how easily too, you're amazed and most people I talk to get

really motivated then to make bigger money and enjoy more in life rather than working so hard at what they've been doing.

Here are 3 types of income most ANY business in ANY industry could implement if you think a little outside the box (or get some help from a business coach so you can figure this out faster).

3 Types of Income You Could Be Missing Out On:

1. Leveraged Income Is leveraging your time working with groups. This is when you work one to many such as in a group program, teleclass, bootcamp or workshop. You can charge less for your time and get more people to sign up for your service or program but you actually end up making MORE per hour. BONUS - if you record these programs you can then turn them into passive income.

2. Passive Income This is when you create something ONCE and sell it over and over again. Examples of passive income include ebooks, audio recordings, manual downloads (PDF), recorded interviews, workshop in a box, CDs, information products, books, ecourses, recorded telecourses, monthly membership programs and continuity programs, home study programs or signature systems.

3. High Ticket Income Some examples of this type of income include larger 3-4 day workshops (leveraged but high ticket), year long mastermind or coaching groups (leveraged again yet high ticket) and paid speaking gigs.

Now, these things don't get learned or implemented overnight I get it, they do take a little time and effort to come up with the ideas, brainstorm on the processes, put in place the programs and support to make them happen plus the marketing to get them sold in the first place.

But don't get overwhelmed or discouraged, just get started now. If you want that 'magic pill' or 'quick solution' to success -- good luck trying to find it.

What I know about successful people is that they are always working on improving themselves and learning more. They invest in themselves, their businesses and take time to work on this stuff. You can do it at your own pace by yourself or you can hire a coach, plain and simple - you decide....but do something and take some kind of action will ya!?

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