The Solopreneur’s Guide to Managing Multiple Income Streams
As a Leadership Solopreneur, let’s think differently about our business.
A couple of years ago, I began to offer Fractional Head of Marketing solutions. As I landed a couple of clients and things were stable, I began to wonder.
How can I scale my income without losing out on the retainer work?
I started feeling the itch to explore more—online courses, one-on-one coaching, workshops, maybe even a membership community.
The problem?
My schedule and finances got messy. You can easily lose focus on your main product. You.
I couldn’t juggle multiple revenue streams while also delivering high-quality results for my monthly clients.
In this week’s GRIT Guide, we’ll explore how to keep your core retainer work thriving while strategically introducing new revenue streams that complement, rather than detract from, your leadership solopreneur business.
How Additional Income Streams Can Help
Once your retainer work is stable, additional income streams can:
- Diversify Risk: If one stream experiences a dip, others can help balance things out.
- Scale Your Impact: Online courses or group coaching let you serve more people without a proportional increase in time.
- Keep You Inspired: Experimentation with new formats—like digital products or workshops—often reignites creativity.
Launch and Manage Multiple Income Streams
Step 1: List Out Potential Supplemental Income Streams
- Examples: Online courses, membership sites, group coaching, digital products, workshops.
- Action: Brainstorm which formats align with your expertise and might appeal to your existing network or audience.
- Why It Matters: Not all supplemental streams fit every solopreneur. Choose those that complement your retainer services, not compete with them.
Step 2: Find the Right Tools for Your Business Needs
Before you commit to new platforms, consider:
- How seamlessly can I integrate this with my existing operations?
- Do I need an all-in-one solution for CRM, emails, and digital product delivery?
- Will I be comfortable scaling support if it grows quickly?
Step 3: Choose (or Combine) Tools to Handle Your Website, CRM, Email, & Purchases
Recommended Tool: Systeme.io
- Why: It offers a seamless way to build landing pages, set up automated email funnels, and process payments for courses or memberships, all without leaving the platform.
Step 4: Centralize Social Media Content Creation & Scheduling
Recommended Tool: PostDrips.com
- Why: Schedule content across multiple platforms from a single dashboard, freeing you to focus on client work.
- Powerful AI tool to help you get inspired and write content quickly.
Step 5: Keep Payment Processing & Bookkeeping Simple
Recommended Payment Platform: Stripe
- Why: Use a single gateway—whether you’re billing monthly retainers or selling digital products.
Recommended Bookkeeping Tool: QuickBooks
- Why: Track each income stream, manage proposals, and handle invoices in one place.
Benefit: You won’t lose track of finances across various streams, ensuring clarity for monthly budgets and year-end taxes.
Step 6: Evaluate & Adjust Quarterly
Questions to Ask:
- Which additional stream is most profitable—or most fun?
- Does this new offering enhance or distract from my core retainer business?
- Do I have the bandwidth to scale this further?
🫵 Weekly Challenge
👉 Strengthen Your Retainers & Explore New Avenues
- Brainstorm One New Stream: Choose a format (e.g., a short workshop or digital template) that naturally complements your retainer services.
- Set Up a Simple Landing Page: If you decide to proceed, pick a platform (like Systeme.io) to create a basic sales page for your new offering.
- Schedule Marketing Content: Use PostDrips.com (or a similar tool) to plan out 1–2 weeks of social media posts promoting your new offer—without neglecting your retainer obligations.
- Plan a Quarterly Check-In: Mark your calendar to re-evaluate each income stream. Are you still delivering top value to clients on retainer? Is the new stream worth continuing or scaling?
Only once you’ve secured that foundation should you expand into online courses, group coaching, digital products, or any other venture that piques your interest.
Keep your processes streamlined, your finances clear, and your retainer clients happy.
With the right balance, multiple income streams aren’t just a cash boost.
They’re a way to grow, innovate, and continue delivering top value as a leadership solopreneur.
📌 Community Bonus
- If you’re part of the SoloGrit community, post in the SoloGrit community about the event you’re joining or what you learned from it.
- Engage with peers by providing encouragement or feedback on their updates.
- Midweek, post an update on your progress to celebrate small wins and inspire others.
Together, we grow with G.R.I.T.
Cosmin Gabriel
I'm on a journey to connect Leadership Solopreneurs to succeed together through a SoloGrit mindset.
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