The Market Your Message Show
The Market Your Message Show
The Scale Your Income Audiobook (Ch 1. The 12 Income Streams)
Diversify Your Income with Multiple Streams: A Guide for Messengers
Get a Copy of the Book: https://PlatformGrowthBooks.com
In this episode of The Market Your Message Show, host Jonathan Milligan kicks off a new series based on his book 'Scale Your Income'. This inaugural session introduces the concept of building multiple income streams, specifically tailored for messengers such as writers, speakers, coaches, and online course creators. Jonathan emphasizes avoiding the 'one trick pony trap' by diversifying income streams. He categorizes these streams into writer, teacher, speaker, and coach, and further breaks them down into mini, main, and max offers. The episode also includes a practical exercise to help listeners map out their current and potential income streams, aiming for a balanced and scalable approach to achieving financial stability and business growth.
00:00 Introduction to 'Scale Your Income'
01:18 Chapter 1: The Multiple Income Streams of a Messenger
02:05 Avoiding the One Trick Pony Trap
03:32 The Holistic Approach to Income Streams
04:06 Identifying Your Influencer Voices
04:52 Understanding the Three Offer Types
06:08 Writer Income Streams
06:56 Teacher Income Streams
07:38 Speaker Income Streams
08:30 Coach Income Streams
09:19 Integrating and Optimizing Your Income Streams
10:07 Mapping Your Messenger Product Portfolio
12:15 Key Takeaways and Final Thoughts
Hello and welcome to The Market Your Message Show. I'm your host, Jonathan Milligan. Today we're gonna kick off a brand new series on the podcast, and it's based on my book Scale Your Income. I'm really excited about letting you experience this book and go through this book, and we're gonna be introducing. One chapter at a time of the audio book of scale your income. Now, this is to help those of you who are messengers and I consider messengers to be writers, speakers, coaches, online course creators. And this book specifically is going to help you build out 12 income streams. So this first chapter, chapter one. It's all about the multiple income streams of a messenger. It'll help you understand the big picture overview of the book as we go through it together. Now, if you wanna get a copy of the book to go with the podcast, then I would encourage you to either go to Amazon. Bookstores wherever you buy books, or you can go to platform growth books.com and order the scale your income book. Alright, without further ado, let's get right into chapter number one. I. Chapter one, the multiple income streams of a messenger.
Speaker 3:Toys R Us was a household name. You couldn't think of toys without picturing those huge stores filled with endless aisles of games, action figures and bikes. They had it all. But when e-Commerce started taking over, they stuck to what they knew best physical stores. They even handed over their online sales to Amazon. Why build their own platform? When they could just ride Amazon's coattails. But as more and more people shopped online, Toys R Us couldn't keep up. Amazon, Walmart, and other e commerce giants took over the toy market. And eventually the company filed for bankruptcy in 2017. The lesson is clear. When you rely on one thing. You're vulnerable to a changing world. You see this happen all the time in the influencer and content creator world. People fall into the one trick pony trap. They focus on just one income stream, hoping it'll be their big break. For some it's churning out book after book for others. It's coaching one client at a time, grinding out hour after hour. It's easy to get stuck in the cycle, but here's the thing. It's a recipe for frustration. When you pour all your energy into just one thing, you put all your eggs in one basket. And if something changes, you're left scrambling. Why it's a recipe for frustration. Limited reach. You're only talking to one type of audience. Not everyone wants to read books or sit in on a coaching call. People learn differently, and sticking to one format leaves a huge chunk of potential followers out. Vulnerability. What happens if your chosen platform suddenly changes its rules? Maybe the algorithm shifts, or your clients dry up. When all your income depends on one stream, you're at the mercy of forces beyond your control. Missed opportunities. You've got a message. You've got ideas. But if you're focused on one thing, you're missing out. You leave money on the table. You could reach more people and make a bigger impact, but you're too busy trying to keep that one trick going. The one trick pony trap feels safe at first, but in the long run, it's risky. It's time to think bigger. A better way. The holistic approach. The good news is, it's safe. There's a way out. It's about seeing your content as more than just a book or a course. It's a message that can live in a hundred different forms. Think about multiplying your message. Instead of relying on just one income stream, you could write books, create courses, offer coaching. Speak at events. The options are endless. Imagine having multiple income streams, all feeding into each other. You're no longer stuck on one thing. You're free to adapt, evolve, and grow. Identify your influencer voices. Ever feel like you're wearing just one hat day in and day out. It's time to mix it up. You've got four main voices to choose from. Writer, teacher, speaker, and coach. Each one is like a tool in your toolbox waiting to be used. Picture yourself as a bandleader. Maybe writing is your go to instrument, like a steady drumbeat. But what if you could add a little flair with some coaching? The guitar riff. Or, go big with speaking. Think of it like the trumpet solo. The more you try, the richer the performance. Find the one that feels natural. But don't stop there. Try on the others. You might surprise yourself with what fits. Understand the three offer types. Let's break down your income streams into three categories.
Let's break down your income streams into three categories, mini, main, and max offers.
Speaker 3:These aren't just buzzwords, they're your keys to scaling up. Don't think of them in terms of many offers, which are the lowest price products and max offers, which are higher priced pricing can vary throughout the messenger product map. Instead, I want you to view them as a difficulty scale. Many offers are fast to create max offers, take more work to launch, but the rewards make it worthwhile. Let's break each type of offer down. Many offers are your quick wins. They're simple, fast, and easy to sell. Think of them as appetizers for your business. They give people a taste without a big commitment. Main offers are where you build stability. These take more time and effort, but they're the bread and butter of your business. Max offers are the game changers. These require the most work, but can bring in the big bucks. Think of them as your full course meal, your most valuable offering. Now, let's examine how these offers fit into the income streams of writers, teachers, speakers, and coaches. The Writer Income Streams. Got that writing itch? Let's turn it into cash. Start with low content books. Things like journals, planners, or workbooks. They're quick to create and great for testing the waters. You can knock these out in a week or two, like sprinting to the finish line. Then, there are compact books. These are your mid range projects. Aim for around 30, 000 words. Think of them as your steady jog, pacing yourself for consistent earnings.
Speaker 4:Finally, the book series. This is your marathon. It might take a while to build, but the long term payoff can be huge. Think of your writing as a garden. Low content books are your fast growing veggies. Compact books are the sturdy perennials. Your book series is a fruit tree. It takes time to grow, but it keeps giving. The teacher income streams. Got knowledge? Let's turn that into a revenue stream. Are you a teacher at heart? If so, you can create three main types of income streams. Many courses are a great way to start. They are short, sweet, and focused. Think eight to 12 videos on a specific topic. You can whip one of these up over a weekend. Flagship courses go deeper.
You're looking at three to six modules packed with content.
Speaker 4:This is where you really dive in. Then there's the ultimate, a membership site. This takes more work up front, but it's where the magic of recurring income happens. You create a community where students keep coming back month after month, the speaker income streams. It's time to let your voice be heard and paid for. In this book, we will cover three types of speaker income streams. Paid virtual workshops are a great starting point. Post an idea on social media, see who's interested and deliver a workshop on zoom. Next, step it up to paid speaking gigs. You'll need a demo reel and some polished topics. Once you've got those, you're ready to pitch yourself for bigger events. And then there are in person events. This is where the magic happens. Whether it's a small group paying 5, 000 each or a larger crowd at 200 ahead, live events can make a lasting impact. Imagine throwing a pebble into a pond. Virtual workshops create little ripples, paid gigs, bigger waves. In person events are the splash that reaches far beyond the initial impact, the coach income streams. Ready to start coaching? CoachingBadminton. com Let's map it out. A four week group coaching program is your quick win. Sell it first, build it later, and get a feel for what your audience really wants. One on one coaching is your mainstay. It's the bread and butter of personal development. Get that work with me page up now. and decide how you want clients to book. Talk first or pay first. For the big leagues, go for high ticket coaching memberships. Imagine coaching 50 people at once in just a couple of hours each week. It's a scalable way to offer massive value without burning out. Maximize your client's potential by giving them tools and guidance they can use to succeed on their own. Later in this book, we will show you exactly how to build each offer in your business. Integrate and optimize your income streams. Now, the fun part, tying it all together. Look at your income streams like pieces of a puzzle. How do they fit together? Maybe content from one feeds into another. For example, could a mini course be an intro to your flagship course? Balance is everything. You want a mix of quick wins, steady earners, and long term investments. It's like managing an investment portfolio. Diversify to minimize risk and boost your returns, but make sure each part supports your overall goals. Later in this book, we will dive deep into five different scaling blueprints you could use. The good news is, you can run a profitable online business by implementing just one of the scaling blueprints. Today's exercise, mapping your messenger product portfolio. It's time to map out your own messenger product portfolio. This exercise is designed just to get your wheels turning. In the chapters ahead, you'll learn five different income scaling blueprints you could implement. Start by listing all your current income streams. Be thorough. That ebook you wrote last year, jot it down.
Are there coaching calls you do twice a month?
Speaker 4:That counts too. Now, let's categorize. Which of these fall under writer, teacher, speaker, or coach? Draw four columns and sort your income streams accordingly. Don't worry if some columns are empty. That's valuable information. Next, let's go deeper. For each income stream, decide if it's a mini, main, or max offer. Remember, this isn't about price. It's about complexity and time investment. Mark each one accordingly. Take a step back. What do you notice? Are you heavy in one area and light in others? That's your opportunity for growth. Here's where it gets exciting. For each influencer type you're not currently using, brainstorm at least one new income stream. Let your imagination run wild. What mini offer could you create as a speaker? Is there a max offer waiting to be born in your teacher category? Now, choose one. Just one new income stream that excites you. Got it? Great. Let's make it happen. Outline the steps you'd need to create and launch this new stream within the next 48 days. Be specific. What resources do you need? Who could help you? What's your timeline? Finally reflect. How does this new stream compliment your existing offers? How does it support your overall business goals? Write down your thoughts.
Speaker 5:Congratulations. You've just taken the first step towards diversifying your income and scaling your impact. How does it feel to see your potential laid out in front of you? Remember, this is a living document. Come back to it regularly, update it, and watch your messenger product portfolio grow and evolve. What will you tackle first? Key takeaways. Diversifying your income across the four influencer types. Writer, teacher, speaker, coach can greatly boost your earnings and business stability. Balance Mini, Main, and Max offers to create a mix of quick wins, stable income, and long term growth opportunities. A single message or area of expertise can be leveraged across multiple formats and income streams, maximizing its value and reach.