A Project Is Expected To Provide Cash Flows Of Multiple Revenue Streams Keep A Solopreneur Solvent

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Multiple Revenue Streams Keep A Solopreneur Solvent

Building a successful career as a solopreneur consultant requires courage, flexibility, marketable skills, and relationships with people willing and able to refer you for paid project assignments. Solopreneur consultants must have sales talent, the discipline to set and pursue business goals, the knack for big-picture thinking and executing strategies, and an understanding of human nature and motivation. The ability to attract good luck and ward off bad luck also helps.

Precious few Solopreneurs can just go “to the office” every day and focus on routine work. In order to generate the desired amount of business revenue, we understand that creating multiple revenue streams may be necessary, and to make that possible, we must recognize the marketability of our skill sets, aggregated and across segments. Also, we must learn to package, promote and sell our skills and value to potential customers.

For example, consider my revenue stream. When asked, in my short form elevator pitch I say that I am a self-employed external consultant who provides business strategy and marketing solutions to mid-sized for-profit and not-for-profit organizations. What this actually means is that I have facilitated strategic planning meetings at non-profit organizations; edited a 100-page nonfiction book and also served as its photo editor and project manager; Developed curriculum for a series of 90-minute sales skills training workshops; And I teach business plan writing from time to time.

I’m lucky enough to regularly win business strategy development or marketing campaign assignments, but the reality is that there’s often a gap, and in response, I’ve learned to segment my expertise and offer it to clients or employers. A way to maintain my necessary cash-flow and grow my brand whenever possible. In my experience, it is the ability to leverage an individual’s perhaps rarely publicized skills that helps solopreneurs build and sustain a profitable business venture.

My friend Adela is a busy academic consultant who works with college-bound high school juniors and their parents to identify the right colleges for students and navigate the application process. Adela’s business seems to be booming, though she teaches Spanish at a local university (she was born and raised in Mexico and came to the US to study at the University of Notre Dame).

Jackie, a friend of many years, is the founder and manager of a small, full-service fitness center that has been very successful in that highly competitive market, although she teaches fitness classes at another gym a few miles away. why As she gets an inside look at another style of fitness center management, she learns new fitness techniques she can evaluate to incorporate into her own gym, and she earns a few extra dollars per week, something the mother of four can always do. Usage Sometimes you can get paid for researching the competition!

My friend Carol toggles between freelance marketing gigs at tech companies and corporate positions in that field. She is a Lotus alumnus who has also worked for tech giant EMC, which is respected and open doors in the tech industry. Between corporate gigs, Carol ventures out on her own to develop marketing strategies for tech start-ups. A few years ago, she was offered a position as marketing director at one of those start-ups, but when the inevitable restructuring occurred, she would re-enter solopreneur life.

So, fellow solopreneurs, I invite you to put your thinking behind you and brainstorm how you can create additional revenue streams by figuring out how certain segments of your skill set can be packaged and promoted to current and potential clients!

Thanks for reading,

Kim

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