The Importance of Creating Multiple Streams of Revenue
Today's episode is from a LIVE recording I did in my Facebook group. I talk all through why you should have multiple streams of revenue in your business to keep it thriving and income-producing. If you enjoy this coaching episode, you will definitely want to join my Facebook group! https://www.facebook.com/groups/543349069947982
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Show Notes: The Importance of Creating Multiple Streams of Revenue
Welcome to the fit and faith podcast fit is an acronym representing founders, innovators, and trailblazers who are looking to live a life who fully authentically and truly fit a space for us to connect on the raw real stories of mind, body, and soul alignment of entrepreneurs and kingdom leaders. I'm your host, Tamara Andre, and this podcast, isn't like the cookie cutter interview experience.
I've been coined the entrepreneurial rabbi. And so we do go there unscripted, no matter how far wide, deep or high the, there is. My desire is to see people rise from the inside, out, into their greatest calling, by sharing their truest stories, talents and tips as a purpose activator and brand builder. I believe our successes and failure.
Are derived from who and whose we are not what we do, but strategy and vision are equally as important to the mission. So let's cut to the chase together and get fit in faith.
So this keeps happening and I'm kind of loving that I get to bless you guys. When my schedule. Uh, we were supposed to have a podcast and the guests didn't show up cuz they were sick and I totally get it. Cuz I was out last week, um, specifically with a tummy bug that was not so fun. And um, I wanted to come on and I have a thousand of the things I could be doing, but I was like, no, my community's expecting me to be live.
Um, but I wanted to come in and share some things that have been on my heart specifically last night when I went for a run on the beach. I was listening to a few podcasts and just processing with the Lord, just like having conversations with him, you know, how you can like be prayerfully minded as you are listening, right?
Like you're, you're feeling in your spirit a certain way. You're having a conversation with God, but you're also. Being talked at, essentially, maybe right now, you're feeling that way. And you have that prompting in your spirit and he's trying to speak to you. Well, I was looking out at the ocean and I was like, God, I feel like I'm stewarding what you've given me so well.
And I feel like what you've given me has been a little to the big dream, to the big vision, to what I hope to become. Um, what I hope to see come to fruition and the team. Still small I know is, is stewarding that same energy and the resources that we do have well, and he. He said, just keep running. just keep running.
And I know that no one likes to hear that one when they're in soft sand two, when it's cold and the wind is like hitting your ears. I wish I had on ear warmers, even though it was like 80 degrees. Um, it was just chilly off the ocean and it wasn't really what I hoped that he would say. Um, I know that I am doing what I know.
You all also have the capability to do. And it's why I always show up to teach and train. Um, I was speaking in my ear about seven and eight figure entrepreneurs and that the numbers associated to that, that don't really mean anything. If it's not what you're taking home, people can. Tens of millions of dollars and still barely scrape by or still be in debt or still have, uh, financial struggles and worries.
And I think because we perceive being a millionaire is rich in the famous are. They've got it figured out in some way. Honestly, they just have bigger problems a lot of times. And I'm not speaking that over everyone. I. Speak it over myself and the, the what's to come when it comes to our financial, uh, leverage and abundance.
But I do know that if we aren't stewarding what we currently have and we aren't creating multiple streams of income, um, what if the one river dries up? What if the one, well, dries up? What if you have store houses? That are just fluid. And that just is in constant flow, which allows you the sustainability to be able to scale, nurture, grow other areas of your business.
I don't know who I'm gonna be speaking to today on this topic, but, um, I wanna talk through the multiple streams of income that are happening within our business on a given basis, and why people choose to coach with. uh, because it's awesome. And it also allows us to really stay in our gifting and express ourselves in our zone of genius.
While also doing things we love are passionate about and have fun doing so many of you know, that we host retreats. These retreats could be, um, international, perhaps not for you yet, but maybe you'll jump into it. I had one in, uh, well, this is my women's. By the way, sorry guys love you. But, um, these are really intimate experiences.
I think eventually we'll do some marriage ones with my hub as well. So it'll be co-ed, uh, adventure. And if you know my husband and I, we both love adventure, but first one was in the states. And then I was like, you know what? We could keep doing this. We could keep hopping around and going state to state.
There are so many beautiful places to explore in America, but I have such a passion for having my feet on foreign soil and being in different cultures specifically. Spanish speaking cultures because of my husband's, um, Mexican descent. And I just love it so much and want other people to understand that there's more to this great big world, um, than being right here in our backyard.
And so retreats are a huge one. So having steady flow, we've got two coming up next year and we've already amassed, you know, a certain amount of income for that, those retreats, because people are signing up already. We don't close our books to those retreats until the retreat actually happens. And so having, um, the full, you know, profit and loss statement associated to that won't happen until next year, but I can still have this revenue that's coming in, be utilized for growth in my company, as long as I.
Steward, what will happen when those people are ready to be in another country? I need to make sure that every penny that they've given me is accounted for, for their experience. And so a part of it is the stewardship of these multiple streams of income. Retreats is one. Um, we also have business retreats and those are co-ed.
So we just had our podcast. that was amazing. We have another one coming up for that in December. We have a book writing retreat happening in new Orleans in September. So retreats are fun. They're they're short spurts. So you get to have and be with the client and then they're not with you. Um, which I enjoy cuz you have this bond.
That's really everlasting cuz you experience different places and you experience the, the morning, the sunrise all the way to sunset together, which I love. Two is podcasts. So podcasts being that we do VIP workshops with people. We do podcast training with people. I mentioned the retreat, but these are specific to immersive experiences.
We also have our one-on-one coaching. We also have our team add on. So we work kind of in like an agency style format where we do all of the support for that client as well. So if they're like, I don't wanna do any of the tech, I don't wanna do any of the design. I don't wanna do any of the system builds.
We do all of that build out too. And so the team is really invested in that piece. So I count them as a part of that revenue stream, because that's how they get paid. Um, mastermind. We have the mastermind, that's an annual experience and we've got women in that program that also are part of those retreats that I mentioned.
I have speaking. So when I get paid to speak and go to different conferences and experiences for that way, that's a revenue stream. We have the joyful group coaching. That's the joyful entrepreneur program. That group coaching is an eight week program that launches four times a year. So that's another revenue stream.
We also have the anthology project, which is going to be an annual project that we do for a new book that will launch every year alongside 20 other authors. And so that just closed. I believe actually I wanna wanna speak prematurely to that. A couple more days for one final author to come in. We've got, um, 20 seats to fill.
We have 19 authors on board now, technically 20, but we have a husband and wife who are sharing a chapter. And so, um, if you're interested in that, be sure to touch base in the next, you know, 48 hours for that. Um, but anthology is such an awesome experience for the revenue stream. That then is also gonna catapult us into having a part of that be at the conference.
Conferences is another revenue stream. And so whether we're doing small conferences or large conferences, um, a big thing to recognize for that while conferences do bring in some of money because of ticket sales, that money does go out very quickly. So I have not currently had a conference that is a profitable conference.
My conferences are profitable. Spirit. They are profitable in the treasures that are being stored up in heaven and the blessings associated to that. However, uh, they are not turning profit in our business one because we like to support nonprofits in that. And two, because we really do a lot for our speakers, um, and, and treat them well when they're here.
And so that's another component of it too, but I do forecast that we'll continue doing this and that revenue stream will grow based on sponsorships and, um, elements such as that. But I just want the conference to get bigger, to expand, to touch more people, cuz it's really about getting Jesus in businesses.
And that's really important to me. What happens is. other streams of income actually will have a surge, a flow, a river stream of influx because of the conference. And so I don't want you to think that I don't make money off conferences. We do, but it's in the work that VE is associated after the conference, not the conference itself.
So when people buy tickets to the conference, That money goes to that conference. It does not go to our company. Um, that's not how it works maybe yet. Okay. I'm gonna say yet also book sales. So obviously I'm an author. I've got multiple authored, um, books, some co-authored and one of our own. And so we do have book sales.
Um, I could break this down based on percentages of what our company makes in each of the brackets. Maybe I'll do that one for you guys sometime. Um, and then we've got our e-courses, so e-courses do turn a profit in that regard and we're actually amplifying several of those. And so I'm super excited to re-release them alongside, uh, something that I'm gonna write here, but it's not yet a live revenue stream.
How much is it important for us to. To vision cast so that we know the stream is coming, but we have to build out some of the parameters of that stream in order for it to flow effectively. Correct. So I'm thinking of bumpers, as I'm saying that the bumpers on the bowling alley, we've gotta create the bumpers.
So we know where that stream is gonna go originally. And once we get comfortable with. Flow then we can pull the bumpers down and we can then be in passing. Right. And we can hit the nail a little bit easier every single time. So that's gonna be an app that we are launching later, which we're really excited about.
Uh, we also have affiliates, so affiliate payment payments. Affiliate payouts. Um, are you an affiliate for anyone? Are you a brand ambassador for them? Do you, um, encourage your clients to utilize a, uh, product that you love and then you get a kickback for it. And then lastly, I have ads listed here, um, ads that are on my podcast.
We don't have podcast ads, um, and or ads that are on your website. We also don't have ads on our. I don't really like the way that it looks. Um, but I'm not opposed to it. If in the long run it could be a percentage of income. That's helpful. So let me just count that 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, wait, hold on 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14.
Am I going crazy? That's a lot. I had seven one. 7, 8, 9, 10, 11, 12, 13, 14. Yeah. 14 revenue stream opportunities in our business. That's on a consistent basis. Even if something is closed, we forecast that it'll reopen and therefore we know the revenue stream is not gonna be Stu stopped. Stifled is what I was gonna say.
Stifled, are you doing this? Are you effectively preparing your business? Are you allowing the vast ideas to actually take root and for you to say yes to what God is hopeful in depositing in you? I have heard, it said many times that we shouldn't, um, we shouldn't do more things. We should figure out the one thing and do the one thing really, really well.
And once that thing is in flow, then you can do the next. I understand the concept of that. And I believe God entrusts us with, um, what we are stewarding. Well, I've literally said that multiple times. However, I do think that we can build multiple houses at one. Um, I know this from a real estate perspective that this is possible.
Uh, I've also seen it in my business over and over again. And so I know that even on here with the 14, that there's more to come because I didn't list on here product. So product. For us currently are just our e-courses, but you could have products such as eBooks. You could have products for us. It's going to eventually be, uh, a swag line.
Um, I'm not gonna tell you what that swag will entail yet, but you might know me well enough to know what they could potentially be. Um, so that's. 15 different revenue streams. So this is the thing that we teach in joyful. We teach you how to establish the revenue stream. We also teach in harvest mastermind and kind of dissect what it is that you're building out so that we can create more.
We make sure that you're effectively showing up in your time and you are. Um, in, in dating yourself, I don't believe with these 15 streams, that, that means that I have to be what culture says is busy. I don't have to hustle for those now, does that mean that we don't wake up before the sun and go to sleep late some days?
Absolutely. But we are mindful of the energy and the resource that we are also giving to God in the reciprocation of what he's given us, which we believe is the opportunity. The breath in our lungs, the ability, the energy, all of these pieces of resources that outlast money for, for many, many years. Right.
And so I just encourage you guys to really analyze what are your streams of income in your business? This is just my business. This is just this specific house, but I can tell you that my husband also. Many streams of income that are coming into our home on a consistent basis. This is biblical. Okay. This is biblical Ecclesiastes, uh, 11 two.
And this is the reference today was invest in seven ventures. Yes, eight, eight. It even says you do not know what disaster may come upon the land. And so it's to be prepared it's to harvest well, and I'll tell you, what's really interesting. I have enough revenue stream that even though I was a bit worried on some of the numbers that were coming in from my QuickBooks and my bank.
I was still, you know, keeping the teams, going, keeping things, moving with vision of, I don't know how I'm gonna pay for that conference. I don't know how these other things are gonna come into fruition, but I do know that God has provided, and I do know that he will continue to show his provision to me and to the team and to the vision of what it is that he's laid on our heart.
And so I trust. And so we were going by with like, that would say more than enough, but scraping by. Still like I was feeling pressed. Okay. I was feeling pressed. I wasn't really talking to my team about it very much. And we were on a call and a storehouse was revealed to me a storehouse from a stream that I didn't know, had stopped entering my bank account.
All right. So they said that I had 50 K in a storehouse and I was like, I'm sorry, what. Yeah, I thought I set that up for auto flow. Uh, God, I thought that that was coming right to me every single time I thought I was, I had my catchers a bit ready. I was at the end of the alley. Like I was ready. I thought I was striking out.
I just thought that for some reason I was investing so much in what was going out and the growth of the business that we were just low on cash and low and behold, I open up that storehouse. I go to its online presence and I'm like, wait, what? And the pressing the pressure that I had been sensing and feeling just released in that moment as the flow began again, and my team got to carry, um, and hold some of that weight as they witnessed me emotionally just release what I had been holding onto as worried.
And I don't walk around in a pessimistic lens. I'm very optimistic over our business every single day. I'm optimistic, even on the days where it feels like we're running dry. and I was just amazed. I literally just was like, had my arms open my hands open. I just started praying to God. Um, you know, Jesus, thank you.
Thank you that you are my provision. And then I didn't have to lean, um, I didn't have to feel the lack. And that it was already there in the storehouse because of these multiple streams of income that we were able to still sustain, that we were able to still show up that we were able to still give. And, and I was actually, even in that sustaining, I was extending clients' contracts longer than I ever would.
Even knowing that I was tight because it was going to be a blessing to. Knowing that that extension was going to serve them, that they were actually going to get more out of it if they were able to have a longer term of payment. And I knew that that was gonna be tight for us as a company, but I also promised I'm promised you are promised.
His provision and ultimately beyond the money, um, the revenue stream, the exchange that happens client to client, community, to community, it happens on a spirit level. I feel so served when I am with a client, I feel like God has just blessed me with that relationship. And I couldn't be more grateful for the time that I get to spend with the clients that he's gifted us.
And so it is more than just money, but it is important for us to realize that the resources are abundant and the resources are there, but we have to build the houses. And so maybe there are multiple houses you can build simultaneously and, uh, I encourage you to do so if you ever are looking for ideas on how to do that, definitely send me a message.
Um, I'd love to hear where your business is at. At this point, I have, um, some open seating that we allow people to come in and check out our joyful entrepreneur or our harvest mastermind or our master classes that we offer. Um, and so if that's something that interests you, I can get you on the. To be able to do that.
Um, but definitely let me know if you are listening to the replay, I want you to drop in how many, uh, streams of income your company has and you can list them out if you want. Maybe it'll jog some ideas for other people. Um, but on my list is pretty expansive. And so, um, I hope that you took notes. Um, I might have to use this as a podcast drop, um, as a special episode for our community, but.
I love you. I am excited to move into some QuickBook editing actually right after this. And this just gave me momentum in time to be able to come in and share with you guys. I hope that this blessed you and excited to see how you activate more revenue streams in your business. All right. Y'all. Thanks for being here.
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