Before 2020, I used to boast about my job security because weddings and funerals would always happen. It would seem that the world had other plans and all of a sudden, weddings stopped happening the same way in 2020. Quickly, I found myself without my main source of income and to add insult to injury, not only was I a wedding photographer, but I was a destination wedding photographer, which meant that I was definitely out of service because no travel was allowed! Although everything seemed really scary at first, I learned that multiple streams of income would save my business – and I want to make sure you have the same feeling of security I do now!
When everything first shut down, I thought “no big deal, it’s only a few weeks”! We had savings. But I soon realized, I needed a plan B. My husband and I run the business together and it’s our only source of income. So, I got scrappy!! I sat down and figured out ways that I could add multiple streams of income to my business. In addition to weddings, I was already doing mentoring and workshops. Unfortunately, with other photographers (my main students) also out of work, those really weren’t going to help us out.
Finding Multiple Streams of Income
The first thing I did was figure out how to solve an immediate problem. With no weddings or portraits and a travel ban, I realized I could help photographers pivot their own businesses. With that the Pivot Bootcamp was born! It was group coaching, which made it more affordable, to help others find their zones of genius to bring in some extra money. I led them for 6 weeks and it prepared them for the Pivot Mastermind which I’m currently running now. (Ps. If that sounds AMAZING to you, my next Pivot Bootcamp will run in August! So make sure you click below and get on our waiting list.
After I created the Pivot Bootcamp, I went through all of my travel images and created a limited edition print shop. Since the printing labs were shut down, I sold these photos as digital images and it was a huge success! And as a result of sharing all over social media and Pinterest, a licensing company reached out to me and now several of my images can be found in Hobby Lobby and Kirklands!
Third, I ran a big sale! Photographers were home with nothing to do, I decided it was the perfect time for them to learn! 50% off my courses and photographer’s tools were a big hit.
Oh! Speaking of sales, June is my birthday month and I’ve got some great things up my sleeves. If you are not on my mailing list, you need to be! There will be some sales only available to my mailing list!
Fourth, I added business online strategy sessions. People finally had time to work on their business and they could hire me for an hour or two to help them out with that. Again, I lowered the prices to make it more accessible since we were all struggling!! And the last thing I did was to run a sale on albums and prints for my past clients.
Through all of this, I discovered that helping people figuring out their multiple streams of income was my zone of genius.
I want to be honest, I’m normally not one for discounts or big sales. But we were all having a hard time and allowed more people to take part in my education service. I don’t regret it one bit. I created a slew of new customers and raving fans who now are invested in me. Sometimes, we just have to do what we have to do.
I’m saying all of this because every single one of you have ways to bring in extra money. And MULTIPLE streams of income is where it’s at. There’s a reason people still say, “Don’t put all your eggs in one basket”. This goes for your business as well. Millionaires have at least 7 streams of income and it works for them right?
So, here’s 5 easy ideas for additional income streams you can start today!
- Run a sale on prints for your customers
- Create presets and sell them (mobile ones work best)
- Open a print shop
- Open an online shop for photographers with templates and tools priced low so it’s an easy buy
- Offer one hour “Pick my brain sessions” Remember, there is always someone below you that wants to learn from you and you only have to know 25% more than they do.
PS. Don’t forget to sign up to learn from me and my Mastermind students (who have found ways for passive income) for FREE during my mastermind online summit on June 23rd. Registration opens on June 1st but click below to be added to our waitlist.