Do You Have a Business Or a Job? 7 Strategies to Build Revenue on Autopilot-2009

Many business owners enter into business with best intentions to create a great business model leading to wealth, happiness and a legacy. But often, the endeavor becomes work and the owner is forced into working in the business versus working on the business. According to Michael Gerber in his wonderful book "The E-Myth, Revisited", Gerber explains how most people go into business for the wrong reasons. They usually possess a skill or trade that they have mastered and often believe they can go into business for themselves. This results in he or she being the one who is actually getting the work done. Al though they desire freedom, most create a nightmare of long hours, personal accountability, and resource limitations. According to Gerber, the role of a business owner is to create a business that works independently of himself and becomes a living, breathing entity. In order to accomplish this, the business owner must be able to automate his systems, train his employees and utilize revenue strategies that will enhance his current position.

1. Selling Physical Products and or services

Whether you are selling b2b or b2c, your product and/or service is why you are in business. Creating a turnkey approach that can deliver your product and/or service, with or without a business owner's involvement, should be the number one focus. Simply by creating, testing and documenting systems to support your business model and service delivery, a business owner can lay a strong foundation for continuing process and delivery of products and/or service.

2. Recurring On line Revenue

A recurring revenue model is a model in which your customer continues to pay a fixed amount each month for a period of time. For example, a membership site where you offer a website that is rich with content, how-to guides, blogs, and free resources in your niche market. Let's say you charge a membership fee of $ 29/month for access to this website and have 100 members, you would be generating $2,900 a month or $34,800 a year in additional income for very limited cost.

3. Recurring Off Line Revenue

This revenue model is a recurring revenue generated by an on-going sale of your product, similar to the "CD of the Month Clubs" before ITunes became a big hit. Is there a way you can send your product each month to your customer as part of a membership? For example, a retail client of mine with an ice cream store used this approach to create a "flavor of the month" club. For a recurring fee, a new flavor is shipped out each month to all customers. Even if you do not have a product, is there inf ormation such as tips or "how to's" that you can send out each month that will bring value to your customers.

4. Home Study Courses

Chances are you are an expert in your niche or have valuable knowledge on a topic, that you can create a home study course to sell to your customers. In addition to becoming an alternative revenue stream, having a home study course offers you a product to sell to your current customers. For example, my "Build a Better Ezine" product is a home study course I offer to business owners who want to learn how to create their own e-newsletters. You write it once and sell it on-line over and over again and again in a perpetual cycle.

5. Workshops and Training Sessions

Similar to offering a home study course, another powerful revenue strategy is to offer workshops and training classes in your area of expertise. This is very simple to launch with limited cost and can easily be held in a virtual environment. If you are providing an educational format and your content has value, people will pay to learn what you are teaching. Not only will this provide you additional income, it will open the door for keynote speaking engagements and media interviews since you will also be positioning yourself as an expert.

6. Affiliate Revenue

There are many other businesses that are offering products or services to the same target market as you and that do not compete with what you are offering. By becoming an affiliate reseller of their product, you create an additional product to sell to your customers and paid a commission on the sale from your affiliate partner. Search for products that your customers would be interested in and offer it to them under your recommendation.

7. VIP Programs

The last strategy I will discuss is creating a VIP program. A VIP program is a special incentive that you offer to your top clients who will pay extra to be part of this exclusive club. This program can be anything you would like it to be based on your business goals, however you want to make sure that you are offering true value to these VIP customers. For example, perhaps they get first access to your product launches as a reduced rate, or they are part of a special coaching program you offer or you create a special experience. For example, Yanik Silver, founder of Maverick Business Adventures offers a once in a lifetime business experience centered around learning, fun and special keynote speakers. This program isn't for everyone, you must meet his requirements to be part of his VIP program.

©Kellie D'Andrea & Associates
Kellie D'Andrea is the creator of the "BLAST 90 Day Coaching Program" and publishes "The Marketing Edge" a FREE award winning ezine for small business owners who want to gain the competitive edge with strategic marketing and branding techniques that actually work. For a limited time she is offering a FREE 5 part mini course on entrepreneurship offered at http://www.kelliedandrea.com