You are a beautiful vessel of water and the world is thirsty:

3 steps to creating new revenue streams that replenish you and your clients

The gym where I work out (occasionally) is really beautiful. Down a hallway is a little nook where the refreshments are. There are always fresh flowers (this week, they’re gardenias) and everything feels considered. There used to be small pitchers of water but recently they were replaced with larger glass vessels on elegant metal stands. You fill up your glass (this week, with water infused with red currants and rosemary sprigs!) from the metal spigot. I had an epiphany last night while filling my glass. As the volume of my cup increased, I watched the vessel empty out. If someone didn’t refill the vessel, it would empty.
I realized that that water situation was such a perfect metaphor for the way I’d initially set up my business. In the really hard days, I was quick to dispense but wasn’t mindful of refilling the tank. The tank being, me; the water, being my services. And I see this with so many of my clients who are struggling.

Here’s the solution. You still offer the water (your lower priced offering), but you also offer up a smoothie and an exceptionally fine organic merlot and you charge accordingly. Because giving your clients choice is considerate and kind and generous, right?

Have at least 4 different revenue streams

I recommend having at least four different revenue streams in your business, each at a different price point. And the first price should be: free. Meet your clients where they are. If they’re not ready to buy with you yet, what could you give them that would help them feel more comfortable with your business? Maybe it’s a short video demo, or it’s a special report you’ve written (that is about something they care about – not just your “stuff”), or it’s a quiz. It should be something of exquisite value, something so very helpful – but it shouldn’t cost you every time you give it away. This portion of your business shouldn’t empty your tank at all.
Then you need to offer products or services at (at least) three different price points – low to high, equivalent to what they require of you. Give your client the option of wine if she wants it and sparkling mineral water, if she doesn’t.

For my business, here’s what that set-up looks like. At Pink Elephant Academy for Entrepreneurs, I offer a free homepage assessment quiz that gives readers some pointers for improving their sites themselves. It took me a lot of time to research and create initially, but now it’s just out there in the world, doing its thing.
If a client isn’t ready to engage me directly, she can have access to my expertise through my workbook, How to Write a Lovable Homepage. Again, there was a lot of work in setting this up but in just its first weeks, it helped 50 entrepreneurs write new content for their websites – something I couldn’t have helped them with on my own. I’m able to make it really affordable because it doesn’t require one-on-one time with me, a finite resource.

The next step up in price and in its requirement of my time is header design services (the Silk Bow package). A do-it-yourselfer may have created her own website but still want a designer touch; she can enlist our studio services to create a header that gives that polish. If she wants more Pink Elephant than that, then we skip over to the Academy’s sister business, Pink Elephant Creative, where complete website writing and design packages are offered.

By setting up my business this way, I’m able to help the people I want to help, whether they need a little of me or a lot, and I’m less exhausted. Each option is extremely high quality – there’s nothing “cheap” here, so my clients – I hope – never feel like they’re in the bargain bin. What they pay at each level feels really good, really fair. And really sustainable for my business – so I can keep the doors open and continue providing support.

3 steps to creating new revenue streams
I’m really happy with my mix of services today. Here are the three steps that I took to get here that really worked:

1. Give yourself a morning or afternoon (or both) to get out of your office or store to somewhere you can really relax. Me, I went for a massage in the morning and then I sat on a sunny patio in the afternoon for my perspective-finding. Bring a notebook and make a list of everything you love offering in your business today. Then make a list of what you don’t love. What projects or products are draining? And, last, make a list of offerings that you wish you were offering.

2. Scratch any offering from your service menu that you don’t whole-heartedly love providing. Forget “but that’s where the money is” – that may be true today but it won’t be sustainable, I promise. Now, look at the Love List and Wish List. Which items on each really sing? Which would be so amazing to build a business around? Which feel possible for you (maybe with a little stretching, but possible)?

3. Ask your clients! Share your new menu of possibilities (from step two) with your clients in a survey (check out a tool like SurveyMonkey) and ask them what they think. Would they want those products or services? How would they want to experience them? In your survey you should also ask your clients these two open-ended questions: What do you wish I could help you with? and What would you do if you were me? You can rephrase these questions however you like, but you may be amazed at how generous people are.
We really do want the businesses we like to succeed. When I asked my clients for their advice, they told me that they wouldn’t buy a printed workbook – they wanted something instant (that insight alone saved me a lot of money!) and they said they really liked the in-person workshops (something I would have scrapped otherwise). They appreciated my willingness to be vulnerable with them and my trust in them to guide me and I, in turn, got even better at serving them. Pretty awesome, eh?
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Carrie Klassen runs two creative businesses dedicated to supporting women entrepreneurs. An award-winning copywriter and marketing strategist, Carrie writes marketing workbooks and runs workshops at Pink Elephant Academy for Entrepreneurs. Over at Pink Elephant Creative, she and her team create smart and beautiful, generous and kind websites (that sell!). Carrie’s mission is to help women entrepreneurs raise their rates and communicate their offerings in a way that’s genuine, compelling, and beautiful. Carrie loves to answer marketing questions for entrepreneurs at www.facebook.com/pinkelephantcommunications.