Recently I told you that I was adding a new lane to my business model. As a business owner, this is something we often do in order to achieve brand expansion and create additional business income.
As a professional speaker, you too should be looking at ways to make money when you are not on the stage. I refer to this as growing your umbrella.
Adding a new revenue stream to your umbrella takes work and focus and is not recommended for all. Note: when I speak about the umbrella, I’m talking about your business model that focuses on your lane (topic area).
Expanding your umbrella, rather than starting a new one, is a much easier approach. What that means is adding more products and services to your offering.
What are some ways to expand? Here are just a few:
- Membership Clubs
- New or expanded product lines
- Mastermind clubs (paid)
- Public Seminars
- Phone App’s
- Home Study Programs
I offer many of these in my own business model, all under The Wealthy Speaker U umbrella, and will be developing three more for the new year. Each of these gives my business a new stream of revenue and moves me away from trading time for dollars.
What are your plans to expand your speaking business? Feel free to share by commenting below.
See you soon Wealthy Speakers!
PS: Need help getting clarity around your brand and umbrella (offerings)? A Focus 40 session is a great way to start!