How to create multiple revenue streams as a creator
How can creator entrepreneurs have a multiple streams of income and build a sustainable business
This post is part of a series - 1 question interviews of the most successful creator-entrepreneurs.
Today’s guest is Daren Smith.
Daren is the founder of the Craftsman Creative blog and author of the book “Craftsman Creative: How Five-Figure Creators Can Build Six-Figure Businesses”
“How should creators think about multiple revenue streams, especially when starting out. What's the best strategy to build a business around their creations?”
“I like to think of my business as a whole dream world that's behind a door. I'm standing at the door, inviting people in, letting them know what's on the other side (marketing) so that they can decide if that's right for them or not.
There's no entry fee. You don't have to pay to enter, even with just your email address. I open the door and people can enter if they choose to.
Once inside, they see a whole world that's built out for them. I say dream world because I want it to feel like this is the reality that they've always dreamed of, but have never experienced.
Over to the left is a huge modern apartment building full of people and events and opportunities. This is the "community" product, so to get in costs a membership fee, just like they would rent a condo in a real-life building.
To the right is a nice pond with grass and trees surrounding it where people could set up a picnic blanket or a hammock and grab a nice drink and a book from a vendor there at the park entrance. The book - my book - costs $20, but they could also just wander around for free and enjoy the view - my blog.
At the other end of the park is a table with a chess board set up, where people can sit and talk with me about strategy, like a game of chess. It costs money to play (coaching and consulting), but the promise is that they'll come away from that session having learned something and be able to apply that lesson directly to their business.
When you think of your business this way - inviting people into a world that you've created - you create not just a bunch of products and services, but an entirely different experience for people. It's a "choose your own adventure" invitation to explore and pick what's right for them in their life and business right now.
Some people will run straight to the "product" that's right for them and will be quick customers. Others need time to explore and choose the right path for them after much consideration, maybe even some saving up to afford that option.
By inviting them in, giving them options, and offering support like a concierge or a guide, you build relationships, not just acquire customers.
And this world is yours, so you're not building on rented land (social media platforms), but rather on land that you own. Your website, your email list, your community.
This is the strategy I'm using to build my business, and what I share in my book, Craftsman Creative - How five-figure creators can build six-figure businesses.”
Thank you Daren for such an in-depth answer. I myself am in the process of creating my own world as a creator entrepreneur, and I have so much learn from you.
For any creator entreprenuers starting out, make sure to follow Daren’s advice. Before you think in terms of “products” and “services”, think in terms of your own digital world and the experiences you can creat for your users.
On your own the digital land that you own.
Thanks for joining in.
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