#215: Creating Multiple Streams of Revenue in Your Business with Jennifer Allwood

As entrepreneurs, creating multiple streams of revenue should be our goal. After being laid off from a software development company in the year 2000, today’s guest, Jennifer Allwood, discovered firsthand how using her creativity and passion could create not one, but six different revenue streams in her business. One of the things I love most about being an entrepreneur is how we are able to use our passions and creativity to build a business that has many layers to it—and Jennifer has done just that! So whether you are just starting out building your online business or are already doing amazing things but looking to up-level, you’re going to find lots of inspiration and actionable tips in this interview! Never Say Never Jennifer’s first foray into an online business revenue stream was through creating and selling a handful of short videos teaching people how to do fun DIY painting techniques on cabinets and furniture. After just a year, she had earned six figures...from simple painting videos! Jennifer was at first confounded to discover she could sell stuff that could be easily found online for free via YouTube videos; yet she also came to understand that people will pay for shortcuts, and they prefer to pay for something from someone they know, like and trust, rather than go searching for something on their own. That was the beginning of her online business journey. In the years since, she has launched a couple membership sites, teaches others how to run their online businesses, is writing a book, and is enjoying engaging with her nearly half-million online social media followers. Jennifer admits that even just five years ago she would never have dreamed she would be where she is today! Let this be a lesson to all of us! It’s Not About Working Harder: It’s Working Smarter That Makes The Difference Jennifer works mostly with creatives: painters, artists, makers, DIYers, and repurposers. She says these type of entrepreneurs have a hard time getting past the idea that they don’t always have to trade time for dollars; yet Jennifer teaches them they can share their gifts in a new way by adding revenue streams to their business. The opportunities she identified (which can work for anyone with an online business) are: Info products – ebooks, ecourses, webinars, etc. Affiliate income Sponsored content Membership site Ad revenue Brand ambassadorship Consulting Speaking Where to Start? If you are just beginning your online journey, Jennifer suggests you begin with something on the simpler side. Test the waters first, to see what you enjoy doing and what works. She highlighted some great examples from the list above that I hope will inspire you with some new ideas! What I loved about talking to Jennifer was seeing how strategic she was—even from the beginning, when she didn’t even realize she was being strategic! If you tuned in and listened to today’s episode, I hope you were as inspired by Jennifer’s story as I was. She was following her passion. She was hustling. She was doing what she needed to do to make things work, and look how it came together for her! I hope the same for you! This episode is brought to you by: Gravy—my very own 24/7 engagement team who contacts my customers within hours of their failed payment, captures updated billing information and saves the customers I worked so hard to acquire. If you have a subscription model business or offer payment plans, you’ve got to check out Gravy!