I'm on pace to break $300K this year as a creator.
But that's not from one single product or service โ it's split between a bunch of different income streams.
Here are 8 revenue streams you can add to your own business: ๐งต
But that's not from one single product or service โ it's split between a bunch of different income streams.
Here are 8 revenue streams you can add to your own business: ๐งต
1. Affiliates
Affiliate revenue comes from selling someone else's products or services to your audience.
As an affiliate, you can recommend them and be compensated for the sale of those products โ typically a percentage of the sale.
I'm an affiliate for @savvycal:
Affiliate revenue comes from selling someone else's products or services to your audience.
As an affiliate, you can recommend them and be compensated for the sale of those products โ typically a percentage of the sale.
I'm an affiliate for @savvycal:
2. Digital Products
Digital products are digital assets you build once and can sell over and over again.
Examples:
โข Courses
โข Templates
โข Worksheets
โข Downloadables
โข Presets
These are SUPER high leverage.
Digital products are digital assets you build once and can sell over and over again.
Examples:
โข Courses
โข Templates
โข Worksheets
โข Downloadables
โข Presets
These are SUPER high leverage.
3. Memberships
Memberships are recurring subscription products.
For me, it's my membership community, The Lab. But this could also refer to content memberships (e.g. every month I provide you something) or things like Patreon.
These create monthly or annual recurring revenue.
Memberships are recurring subscription products.
For me, it's my membership community, The Lab. But this could also refer to content memberships (e.g. every month I provide you something) or things like Patreon.
These create monthly or annual recurring revenue.
4. Royalties
Royalties are payments based on publishing agreements. Typically, publishers license your IP (intellectual property) and then pay you a fee based on their own ability to monetize that IP.
My royalties come from being a course author for LinkedIn Learning.
Royalties are payments based on publishing agreements. Typically, publishers license your IP (intellectual property) and then pay you a fee based on their own ability to monetize that IP.
My royalties come from being a course author for LinkedIn Learning.
5. Services
Services are agreements that trade your time for money. That may be hourly, monthly, or project-based.
I even put "productized" services in this bucket โ services that are packaged like products, but still require an effort of fulfillment once they are sold.
Services are agreements that trade your time for money. That may be hourly, monthly, or project-based.
I even put "productized" services in this bucket โ services that are packaged like products, but still require an effort of fulfillment once they are sold.
6. Sponsorship
Sponsorship comes from promoting another brand, product, or service in your content. It's similar to affiliates, but the revenue is agreed upon upfront (not based on performance).
Sell sponsorship in your:
โข Podcast
โข Newsletter
โข YouTube
โข Social media
Sponsorship comes from promoting another brand, product, or service in your content. It's similar to affiliates, but the revenue is agreed upon upfront (not based on performance).
Sell sponsorship in your:
โข Podcast
โข Newsletter
โข YouTube
โข Social media
7. Patronage
Patronage is money donated by your fans. It's not a transaction โ just support of your work.
Patreon could be seen as Patronage, but if you're promising something new as part of that transaction, I generally classify that as a Membership.
I use @buymeacoffee:
Patronage is money donated by your fans. It's not a transaction โ just support of your work.
Patreon could be seen as Patronage, but if you're promising something new as part of that transaction, I generally classify that as a Membership.
I use @buymeacoffee:
8: Physical products
I don't offer this, but many creators sell physical products in the form of merchandise:
โข Hats
โข Shirts
โข Sweaters
โข Mugs
โข ...really anything
You can even sell these products on-demand using something like @Printful:
I don't offer this, but many creators sell physical products in the form of merchandise:
โข Hats
โข Shirts
โข Sweaters
โข Mugs
โข ...really anything
You can even sell these products on-demand using something like @Printful:
Recapping 8 potential revenue streams:
1. Affiliates
2. Digital Products
3. Memberships
4. Royalties
5. Services
6. Sponsorship
7. Patronage
8: Physical products
What else would you add?
1. Affiliates
2. Digital Products
3. Memberships
4. Royalties
5. Services
6. Sponsorship
7. Patronage
8: Physical products
What else would you add?
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