8 Ways to Earn More Money as a Solopreneur – Social Circle
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8 Ways to Earn More Money as a Solopreneur

Looking to earn more money without booking new clients? There are several other ways to make money besides selling your services. Your website can be an amazing platform to earn more money. In this post, we’re unpacking 8 ways you can earn more money with your website:

 

Digital Courses or Products

Digital courses are a great way to earn more money from your website. Digital products and services may require some upfront work. However, once published they can be an excellent source of passive income. Does the idea of a digital course stress you out? Don’t worry. Digital courses don’t need to live events. You can use course software to pre-record course lessons. This allows your students to work through the material at their own pace.

In addition to earning more money, digital courses highlight your expertise and skill. This is crucial for gaining authority in your niche. Becoming an expert in your niche will help you earn more money.

So, how do you use a digital course to earn more money on your website? Conduct research to identify popular topics amongst your audience. Niche Facebook groups are a great way to identify possible course topics. Another tactic is to survey your email subscribers.

Think you’ve found the perfect topic? Before you spend hours creating your course, you need to validate your idea. A common practice is to sell your course before you create it. Once you’ve generated significant interest, you can create your course. Once your course is up and running it can provide a steady stream of additional income. Just remember to periodically update your course to keep it up to date.

Selling an e-book is a similar process to selling courses online. Identify a popular topic amongst your audience to focus on. You can sell you e-book through Amazon or choose to self-publish on your website.

Other popular digital products include workbooks, stock photos, and templates. A good rule of thumb, is to create products around blog topics. This gives readers a chance to learn more about a specific topic. You should update digital products on a regular basis to keep them fresh.

Related Posts: How to Choose the Right Lead Magnet for Your Audience

 

Affiliate Marketing 

Affiliate marketing is a great way to earn more money as a solopreneur, especially if you have a blog or website. You can promote products or businesses with affiliate links. Each time someone buys that product or service via your link, you earn a portion of the sales. 

The benefit of affiliate marketing is that you don’t have to create your own product. You get paid when you refer a paying customer. This allows smaller solopreneurs a way to stay in business while still delivering value to their target market. 

 

Ad Networks

Ad Networks are another way for you to earn more money from your website. Companies will pay you to advertise on your website. One easy way to include ads is to connect to Google AdSense. AdSense pays you based on the number of “impressions” you get. An impression is when someone views an ad. The more website visitors you have the higher your impressions. MediaVine is a popular option for websites generating over 30,000 page views per month.

 

Sponsored Posts

If your blog doesn’t have enough traffic to consider an ad network, another popular alternative is doing sponsored posts. For example, there are sponsored post networks, like Blog Meets Brand,  specifically for certain niches such as fitness, mommy blogs, and more.

Sponsored posts and product placements are excellent ways to earn more money as a solopreneur. Companies will sponsor videos, posts, and/or ask you to place their products in your material. One way to accomplish this is to build up your following on Instagram or YouTube. Once you have a significant following, brands are willing to shell out sizable amounts of money (think $500 to $5000) for a single post. 

Related Posts: 8 Tips to Create the Perfect Blog Post

 

Physical Products 

Physical products are a good way to earn more money. They allow your customers to have a physical reminder your business. You can sell physical products through your website or a marketplace like Etsy. Many people use a combination of these options.

There are many factors to consider when selling physical products. You’ll want to think carefully about pricing and production. You’ll also need to consider shipping and storage space. Shopify is an excellent platform for selling physical products. You can integrate it with your website to create an online shop. Shopify can even help with marketing and shipping on your behalf.

If you are selling handmade or vintage options, Etsy is a popular option. There is limited investment and you can sell to a large number of customers who wouldn’t have found you otherwise.  It is also easy to set up so you can be up and running in no time.

Another option for selling physical products through your own website. This option allows you to keep more of the proceeds but also requires you to keep all the operations in house. The upside to keeping sales through your own website is that you can market additional products to your customers more easily. 

There are many more online platforms and options for selling physical products. The key is to choose the one that best fits your needs so you can easily earn more money. 

 

Events and/or Retreats 

Events are one of the most effective ways to build brand loyalty and earn more money. Unfortunately, in today’s world they are underutilized by solopreneurs. Events and retreats all you to do some offline marketing and provide face-to-face interactions with your customers. 

Hosting an event doesn’t have to be a big investment. It can simply be a way for your audience to engage with a new project or service. Your attendees will feel like insiders with the opportunity to connect with you directly and in-person. Events also help you showcase your talents and skills. Which also positions you as an industry leader. Events also offer your audience an opportunity to network with like-minded people.

Regardless of the type of event you put together, it is a great way to generate interest and earn more money as a solopreneur. 

 

Memberships or Group Coaching 

Solopreneurs can face unpredictable monthly income. However, there is a simple solution for the roller coaster income. Offering memberships or group coaching programs allows for a consistent way to earn more money. These offerings also allow you to work with more clients without the additional time commitment. That means they can help you design a scalable business. So what does a group coaching program or monthly membership program look like? It is somewhere between an independent-study course and one-on-one coaching. The exact features can be tailored to your niche and customer needs. Regardless of the program’s design, it’ll surely help you earn more money on a consistent basis.

 

Speaking Engagements

Speaking engagements are a great way to build brand awareness, generate more leads, and earn more money. There are speaking agents and bureaus that offer help booking engagements, but they usually only offer to find leads. To book paid speaking engagements on your own, you should look for three main types of events: industry associations, consulting companies, and local rotary/chamber of commerce meetings. 

Industry associations and the associated conferences usually have a speaking budget. The best part is that you don’t have to talk about their industry specifically. Instead you can discuss topics that will help improve their industry. Consulting companies also have large speaking budgets and will bring in consultants to train others on all manner of topics.

Finally, you can leverage Rotary and Chamber of Commerce meetings. While speaking those groups won’t directly pay, you’ll be exposed to a number of businesses who might be interested in booking you for a paid speaking engagement. Finding paid speaking engagements as a solopreneur can take some effort, but it can pay off and become a consistent way to earn more money. 

 

 

 

 

 

 

 

 

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