Is it good to have multiple streams of income?

[GordonJ]

The IEA, always gives me a giggle.

How independent are the Entrepreneurs who join an organization? Well, I get it, understand the sharing of ideas, the community of it all...but really, if you want to be totally INDEPENDENT, don't join the clubs.

Anyhow, once upon a time, I created my own position, Independent Marketing Appraiser, you'll find it somewhere in the archives.

This was at a time when small brick and mortar businesses had to daily chase away the flies of marketing; radio, TV, newspaper, magazine, bill boards, fliers, circulars, yearbooks...and YELLOW PAGE salespeople, at one time they held a monopoly on the YP, then competition came in, and then the Internet and so long YP.

I just got off a chat conference with a marketer I like, Abbey Woodcock, who has opened a brick and mortar (passion project) cheese shop in upstate NY.

She informed us, the pesty bugs of marketing still fly into her shop almost daily, only now Instagram has replaced the YP or social media, or web site builders, or some leftover print ad guys...still pitching the momma and poppa on getting more customers. Her very good advice is if, IF you are going to be offering marketing services to brick and mortar, offer a DONE FOR YOU service, because they just don't have time.

So, a little history lesson here: Why I chose to call myself INDEPENDENT MARKETING APPRAISER 30 years ago and the benefits of doing so....


See, when Ms YP, or Mr. Beacon Journal, or Miss Channel 5 walked in their doors, they had ONE thing to offer, THEIR WAY of marketing.

I, on the other hand, had NOTHING to sell them. I did not enter with a product to sell, so unlike all the others, I was immediately different.

What I did offer was a FREE marketing appraisial, to audit their current budget and their customer acquisition cost, and see if there was some way to reduce the cost and increase the profit margins on an affordable or cost effective way. Often there was, but sometimes not.

What Abbey told us today, reflects similar pitches from 50 years ago, and what most pitches don't account for, and what most marketers get wrong is, they think the biz owner isn't interested in or must be educated about the value of marketing.

They get it, just don't have the time to DO it, SO, there is today, an opportunity for those 3 of you left in the world, who are not afraid to walk in the front door of a business, or call the owner before of after their shop hours...and present then with a FREE MARKETING AUDIT. How can anyone know what a business needs next, if they don't know what the biz is doing now?

Anyhow, I and my associates have sold every type of marketing/advertising that is out there, and although it may still be the number one thing most small business people want and need (more or higher paying customers), there is NOT a one size fits all, but if you are working today, you can offer a multiple of services, like creating video (reels) for their social media accounts, like Instagram and Twitter, Tik-Tok, or even Facebook.

YOU can be an independent appraiser, and when you do, then, you can join my newly formed IA ASSociation, when you pay your dues, you get my newsletter as a bonus.

Gordon

Originally Posted by GordonJ

Keeping the income coming in, and why these strategies have withstood the test of time.

OK, call it consulting, conferring, giving advice...but I believe we all have a consultant living inside of us, and that can be a pretty nice income stream.

Today, you can't go a minute online without bumping into some sort of a COACH, and coaching the coaches has become big business. One I avoid, although I probably have more to offer than most. But it isn't about money, that is a relative easy thing to bring into your life. GIVE what you got.

But the consultant is one income stream, and it is many folks' main income (job/business), a little part time side hustle has served me well, and every once in awhile, I'll do these tiny 100 dollar deals, or a DFY 499 things, I still do SOME offline consulting, why let 50 years of know how go to waste??

Chatteling. Buying and selling. 52 years ago I saw a line outside of a pawn shop, some military groups shipping out to Vietnam from Hawaii...and found a gold mine with buying and selling.

Today, I don't do much low end chatteling, I prefer at least 300 dollar profit per deal, which usually takes less than 15 minutes.

And the idea of doing eBay, with packing, shipping and the TIME spent doing it...NO, no thanks, plenty of local chattel still on Craigslist, Facebook market place and Facebook groups, locally over 50,000 members in the top few buy and sell facebook groups in my area.

So, no matter what else you do, and I have harped on this for decades now, you have TWO income streams at your ready anytime you choose to execute them and turn on the spigots.

1) Offer YOU; knowledge, skills, experience...for some EZ moolah.

2) Chattel. Buy low over here, sell higher over there.

They have withstood the tests of TIME.

And having a few TOLL positions doesn't hurt any either.

Gordon