5 Types of Continuity Income Streams

Posted on | June 4, 2010 |

You cannot be creative when you have to worry about money or where your next client will come from. When you know that you have revenue coming in no matter what, it’s much easier to free up your creativity to create whatever your heart desires!

So the most important thing you can do for your business is to create a continuity income stream. Regardless of what type of business you own, there are five continuity income streams you can easily create.

Create your first subscription-based income stream.

At least 50% of my income comes from automated monthly streams in subscription-based programs. There is nothing better than having monthly payments arrive in my bank account automatically. We always hear Internet marketers talk about passive and residual income, but most entrepreneurs still haven’t cracked the code of how to do it effectively.

I started out with a membership-based web site and charged $17.95 a month, then kept adding other continuity programs over the years. Some require more of my time, others don’t require any time at all. What I love most about automated income streams is that they free me up to be creative.

Five Continuity Income Streams

Here are five continuity income streams you can easily create, in no particular order:

1. Content.

This is the most common subscription-based income type you’ll see. You can publish industry trends, news, interviews, newsletters, CDs, and any other information of interest to your niche market. You can deliver this information digitally or by mail, weekly or monthly. You can create content yourself or hire someone else to do it for you.

What I love about content-based membership programs is that I can re-purpose the content from my monthly newsletter by including it in my other information products.

2. Community.

Although not the most obvious, this might be one of the easiest subscription-based income streams to create. In fact, my very first membership-based web site was a community site, an association for coaches. At first I thought that I needed to have some kind of license or lots of legal paperwork to fill out before I could create an association.

Then I learned that since I am not trying to start a non-profit organization, this was just like starting any other online business. I offered a membership forum, monthly tele-seminars, interviews with experts, and a member directory. This has not only given me a growing monthly income stream, but significantly raised my profile in the coaching industry.

3. Software.

If there is a truly automated income stream, I’d have to say it’s web-based software. Every industry, profession, and group of people wants their own tools that make their lives easier. I discovered a need for two particular tools, which coaches use to improve their lead generation and enhance their group coaching programs. The reason I hardly ever touch these two web-based tools is because they’re fully automated or delegated – from sign- up to training to customer support. My assistant communicates directly with the programmer to add new features or to fix a bug if necessary.

If you have an idea for a web-based tool, head over to a site like www.rentacoder.com and post it for programmers to bid on. I had a complete version of a tool developed for less than $500, and it brings about $2500 a month and growing every year.

4. Coaching.

Entrepreneurs and experts all over the world offer coaching to their clients as a way to support them on a monthly basis, and to generate additional income stream. Coaching can be done professionally (in fact, you can become a professional coach by attending one of the 298 coach training schools, with my favorite being www.coachtrainingalliance.com); or, you can offer support through coaching club, coaching “gym,” group coaching, or mastermind groups.

Which one you do depends on how much time you want to spend on the telephone or in person. Some people offer three one-hour calls a month, others prefer shorter “laser-style” support calls during specific call- in days, while others enjoy four annual mastermind meetings as a way to support their clients.

Whichever level of access you decide to provide to your clients, this is a great way to add a continuity income stream to your business. You could also create your own coaching club, which is a membership-based mentoring program with a huge income potential.

5. Affiliate.

This is something you see all the time. There is nothing easier than referring people to another web site and generating affiliate commissions from the products they offer. The only twist I want to suggest to you is that instead of joining dozens of product-based affiliate programs, why not find a handful of continuity-based affiliate programs to refer people to? Once someone subscribes, you’ll get monthly affiliate commissions for as long as they are members. Years after I recommended a web-based service, I still receive my affiliate checks from them.

As Tom Antion likes to say, “I couldn’t stop this income even if I wanted to!”

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Milana Leshinsky




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