CEO Stories 060: Mastering Multiple Income Streams

Kerry Sheppard found herself on the verge of burnout in her coaching business, but she found freedom by creating new income streams and using them strategically to create lifetime clients. Today she’s sharing when and how to successfully add funnels to your business.   Her biggest strategy in the last two years has been diversification. For instance, she was only working with one on one intense client coaching.  She got to where the hustle was getting a little old. She was then introduced to funnels. Being able to get clients into your business in on a lower end product and then stair stepping upwards to higher end more expensive products. Not everybody wants the high end expensive program, but there are small steps or parts of their business that they would like to learn about.  This helps reach a larger audience. Kerry was then able to show her clients how to use funnels. Funnels can be used at any point in the business, from the start up or adding them in at any time.  It is just a matter of meeting the vision. Find your core and then really start diversifying once you get an actual audience. In the online space, there is no black and white.  Do not listen to messages that say there is only one way to do business.   Example of a Funnel: A no commitment piece- an article, a video, webinar, checklist.  (They do still have to give you their name and email address, so you get something.) A trip wire- Mini course, a training video, a manual. A passive- Video course Core Offer- Group coaching Premium Level- Mastermind mentor Each time they are getting more and more of you.  Spending more money for more of you time. On the trip wire, there is usually an incentive. Depending on their action, it will take direct the next steps. If they take it, they will go to the next funnel email sequence. If they do not, later they will get another offer at the normal price. The ones who stop going down the funnel will eventually jump to the weekly email list and not the selling funnel lists. Personalization and segmentation!!! Once the CEO gives the vision and the road map, you can delegate the technical parts.  You do not have to know how to put together all of the technical side of funnels or email chains.   You can build a simple funnel that fits your business.  It does not have to be complicated. As you grow and bring on offers, you can add them to your funnel.  Start simple and grow as you launch new products. Launch before you automate. Another idea is to give to your private client the product to get someone else’s opinion on it before automating it into the funnel.