Slow seasons happen in the service industry and its better to be proactive than reactive when this happens. A great way to help keep the revenue stream flowing in this down season is offer other services, products, or such that don’t exert a lot of work for you to implement.
Creation of eBooks
One of the greatest highlights for me last year was writing my ebooks. They marked a new chapter in my life, in addition to, having a great revenue stream for my business. As mentioned in, How To Write An eBooks, I was initially lost and had no clue at how to begin this journey into writing an eBook. Now, it’s as easy as pie. This is a great source of income for my consultation firm. Every day someone is buying an eBook. Write about topics that relate to your industry. An eBook does not need to be 100 pages. They can range in size. You want them to be very informative for your reader. The most important factor is getting the pricing right. I have seen eBooks for $65 and that’s a lot of money. Price according to your audience and what you believe you would pay for the book.
Teach eCourses or Classes
Use the eBooks you have written as a segment to teaching more in-depth classes via sites such as skillskare or create your own eCourse that they can download digitally. This is a great way to truly become an expert in your field by always providing others with even more in-depth knowledge on the information they need. You can use sites such as gumroads, course craft, or several others to host your eCourses. If you already have a custom website you can add a digital download plugin to it; keep everything in one place.
Speak at Seminars or Conferences
Getting on the speaking circuit can be hard if you are just starting out. However, if you position your business to a particular niche verse trying to get checks from huge corporations for tens of thousands of dollars you can do very well. Your service business does not cater to everyone so your speaking topics probably won’t either. When I wanted to go on a college speaking tour I reached out to universities that had fashion departments with businesses focuses. That way I could be talking to my idle market.
Having these revenue streams in place before your industry’s slow season starts will help generate the income your business needs to thrive. Have you thought of doing one of these three things when it comes to your service business?