Canadian Small Business Women

Connection, Synergy, Community

Multiple Streams of Income … getting yours!

yvonne

 We seem to live in a world of wanting and needing more, and most times, meeting these needs requires money! For more than half the population or what we have come to know as the one percent, making more money is the key to unlocking all our desires. Even the scriptures aptly state that money answereth all things.

If you have ever asked, ‘how can I make money doing the things I like?’ and are unwilling to give up you primary source of income, then you are faced with a challenge many face in today’s economy.

A good way of taking of this feat is to identify what suits you best, take it seriously by committing to it, and create a plan that makes you stand out from the rest. Here are a few strategies to help get you started

  • Explore a skill you have. Something you enjoy doing, which you can easily be offered in your spare time in return for a charge. Have you got a flair for decorating, interior design, fixing furniture, baking or making clothes? Whatever it is, you can use this skill! Many people have created successful businesses from making use of their skills on a part-time basis.
  • Provide a service using the web. The world has become a global marketplace, and taking advantage of this easily accessible platform brings you closer to the centre of creating an income. Services that you can provide on the web may include proofreading; writing articles and reviews; designing graphics and websites; or anything else that does not require a face-to-face interaction. Web services are good money makers, given that you provide services based on your skills.
  • Online Stores. Can you sell something that people from around the world would buy? Having an online shop does not require you to be constantly present. As long as you have a valid email, a proper payment tracking software, and desirable goods and services you can make more money. Items you could think of selling include unwanted furniture, traditional and vintage pieces, handmade crafts, accessories and clothing, etc.
  • Selling your knowledge. Are you good at giving advice and helping people find solutions to problems? Do you have the training and techniques that can mentor a person through a difficult time? Then you can turn your knowledge and wisdom into income. It is from such intellectual knowledge that consulting agencies, counselors and therapist make money.

Be aware that these ideas are not new, the only difference is the unique and special thing which you will add to make you stand-out, as well as planning and structuring your services professionally.

There is a quote that goes “A man’s gift makes room for him and brings him before great men.” The answer might very well be in your hands, but it is up to you to apply wisdom to you gifts, talents and skills, to make room for more money.

To learn about Yvonne’s latest book on Changing your Mindset for greater results, visit http://www.oliveblue.com/changeyourmindset/

Yvonne is an Author, Speaker, Change Consultant & John Maxwell Leadership Coach who is passionate about working with Individuals, Entrepreneurs and Organisations to help implement change they want and achieve their goals.   

She can be reached at: www.oliveblue.com . www.facebook.com/oliveblueinc . www.twitter.com/oliveblueinc.www.youtube.com/ChangeYouWantTV

Five Essentials for Successful Sales & Marketing Initiatives

Praveeni

The business world is governed by transactions. Everyone is either selling or buying a product or service. As entrepreneurs we’re constantly tying to grow our businesses by increasing our clientele. We tend to spend a lot of time and money on sales and marketing but do we really know what we’re doing and just how much do we know about marketing anyway? Here are five things you need to know in order to run successful sales and marketing initiatives :

  1. Your product

Just what are you selling? Many entrepreneurs think they have a great idea, whether it be in the form of a tangible product like clothing or furniture or a service such as printing, advertising or consulting. In order to sell your business effectively you need to know your product inside out – what can it do, what are its limitations, is it customizable and how much are you willing to change it to suit your potential client.

  1. Your Target Market

Who can benefit from your product? Knowing your customer is as essential to running a successful business as knowing your product. Many times entrepreneurs try to sell to everyone all at once – this is a huge mistake.  Sales initiatives work when you have a clearly defined market segment that you want to target. In other words your product may not be appropriate for all segments of the market. A streamlined, focused sales strategy is always better than a blanket strategy.

  1. Your Competition

As an entrepreneur you need to be aware that yours may not be the only product of its kind out there. Never assume your product is the best. It’s always good to know what you’re up against. The biggest mistake entrepreneurs make is ignoring the competition; mainly because they’re threatened by it. A true sales person always keeps abreast of the competition and seeks to better their product. Instead of criticizing other products, seek to highlight the benefits and advantages of your own product.

  1. The Stats

As an entrepreneur you need to be aware of the statistics surrounding your product or service. A few key statistics you must know are the demand for your product, market size and your own market capitalization. Statistics may sound boring but they are useful when you’re defending your product against skeptical buyers.

  1. Your own strengths and weaknesses

Knowing yourself is extremely important as an entrepreneur. It’s essential to know what you can and cannot do, what you’re good at  and what you need to improve on. Being aware of your strengths and weaknesses as a sales person will in turn help you set reasonable and attainable sales targets. Achieving these targets will keep you motivated to set higher goals.

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world.  She can be reached via Website, Twitter, Facebook or her Blog.