Coach Glitter aka Tiffany Lee Bymaster

Coach Glitter aka Tiffany Lee Bymaster

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Diversifying Your Income Streams

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2020 has had more ups and downs than my favorite rollercoaster ride at Disneyland and I hope we get to exit this ride soon! But one of the many learning lessons this crazy year has taught us so far is to NOT put all your eggs in one basket when it comes to your income.

Whether you have a full-time job and your goal is to soon be a corporate escapee or you’re juggling family life while building your online business, the best time to create more options and diversify your business is before you need to! The second best time is NOW!

That’s why today I’m going to share how I’ve diversified my business to create more OPTIONS in my life by having three very specific streams of income and how you can do it too!

Here’s a sneak peek of what we talked about: 

  • [5:38] Don’t put all your eggs in one basket!
  • [7:18] My three streams of income!
  • [16:56] What to do when imposter syndrome creeps up!
  • [17:58] Why you shouldn’t dismiss or skip one-on-one work!
  • [21:56] The power of brain dumping!

Don’t Put All Your Eggs in One Basket

The number one thing that I want you to become vividly aware of is that regardless of the industry or the niche that you’re in, don’t put all your eggs in one basket. Even if you’re in a very good spot right now or you haven’t been directly affected by the pandemic, you are setting yourself up for success when you create more options in your life!

Peeling Back the Curtains: My Three Streams of Income 

People may not realize that in my business I have three main streams of income: my digital course & backend membership, affiliate marketing & referral relationships, and consulting. 

  1. Digital Course & Backend Membership: I’ve recently shared on the blog how my digital course, Lights Camera Branding (LCB) created the opportunity for my LCB Insider’s Club backend membership. The LCB Insider’s Club was literally birthed because my students demanded it. This has been an additional stream of income for my business and one that other entrepreneurs have started to replicate.
  2. Affiliate Marketing & Referral Relationships: I’m a huge proponent of affiliate marketing, or what I like to call “referral relationships.” This is a huge option that I don’t see enough people take. Before LCB existed I started off in this online marketing space as an affiliate marketer by promoting other people’s programs that I was a student of. Regardless if you have a digital or physical product, affiliate marketing is an essential stream of income that every entrepreneur and business owner can benefit from.
  3. Consulting: Prior to building my online business I was doing one-on-one work as a makeup artist, wardrobe stylist, and set designer. Even after creating a seven-figure business, I still have not let go of my consulting. I still do wardrobe styling on a one-on-one basis for a very select few clients. Because I never fully gave that up, consulting has given me the opportunity to work with some amazing humans who are doing some amazing things in the online and offline space.

What to Do When Imposter Syndrome Creeps Up

When I see the same people suffering with the same thing over and over again on repeat, it might be that we didn’t learn the lesson the first time. If imposter syndrome continues to creep up on you, maybe it’s because there’s a little bit of truth to it? I know that can hurt a little, but this is something that you have to ask yourself.

I see so many people, especially course creators and digital entrepreneurs, second-guessing who they are to do this and if they have the experience. The honest answer is that you have to look within. Most of the time the answer is, who are you NOT to do this, but sometimes there is a little bit of truth to why you’re feeling like an imposter. Here’s the solution:

Why You Shouldn’t Dismiss or Skip One-on-One Work

A massive mistake that I see far too many course creators and digital entrepreneurs make is dismissing or skipping altogether doing the one-on-one work. Sure we all want to scale fast and scale big but in order to do that, where is our knowledge coming from? That’s what helps squash Imposter Syndrome when you’re CONFIDENT in the results you’ve gotten for your clients.

There is power in working, learning and the experience you gain by doing one-on-one work which is why I still do it! After years of consulting work, I can predict what my clients’ and students’ obstacles, challenges and problems and why they’re coming to me.

Whether you’re doing one-on-one or one-to-many, don’t skip the power of learning what your audience needs and how you are the solution for that. Business is a matter of identifying problems in the marketplace. We raise our hand as entrepreneurs to say that I have the solution to overcome that problem, so do not skip doing the one-on-one work.

The Power of Brain Dumping

It is time to take pen to paper to write down and brain dump how you can diversify your business. Give yourself 15-20 minutes of uninterrupted “airplane mode” time where you turn off all your distractions and let the ideas flow.

I teach the art of brain dumping with my students because it helps them to overcome being a perfectionist, overthinker, and procrastinator. This also gives you permission to just freeflow and write whatever comes to mind.

When you brain dump I want you to think about: 

  • All of your skills sets (i.e. software, social media)
  • Work experience (i.e. jobs, volunteering)
  • Knowledge (i.e. education, training, certifications)
  • Life skills (i.e. public speaking, organization) 
  • What do you get asked about on repeat, “How do you…” or “Can you help me…”

This is a list to help you get started, but the real power of brain dumping is taking your mind off of trying to juggle all the things. Allow yourself permission to pause. Let this brain dump be the catalyst that gets those ideas going that are going to diversify and strengthen your business!

With Grit & Grace, xo!

Tiffany aka Coach Glitter

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Filed Under: Online Marketing Tagged With: affiliate, affiliate marketer, affiliate marketing, backend membership, build your business, business, business strategy, business tip, business tips, digital product, diversify your income, grow your business, grow your online business, keep in business, keep the business afloat, Online business, online business owner, online business strategy, online business tips, online entrepreneur, online marketing, online marketing tips, online space

Comments

  1. 1

    Joshua Harrell says

    November 24, 2020 at 7:33 pm

    This is great stuff, Tiffany. You don’t hold back and I love you for it.

    Reply
    • 2

      coachglitter says

      November 29, 2020 at 8:40 pm

      Hey Josh! Thanks so much for checking out my blog and for your kind response!

      Reply

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coachglitter

Live Launch Strategy Ninja|Personal Brand Biz Builder OBSESSED w/Helping Entrepreneurs Create An Engaged Audience That Converts!
⬇️Free Resources&Blog

Tiffany | Live Video Expert
I was so sad to hear of @larrykingnow passing. I w I was so sad to hear of @larrykingnow passing. I was very fortunate to work behind the scenes with him a few times both in his studio as well as in his private home where I mastered the ART of Lighting in his Trophy Room (Swipe left to see video of it) with all those reflective, mirrored surfaces! I always learned so much from how he interviews his guests to how he treats the crew.

Larry and his entire team were always the most gracious & kind to work with which isn’t always how things are BTS but he was a class act.

I will always remember how he said he never wanted to retire because he genuinely loved what he GOT to do and he was driven by CURIOSITY.

I’ll never forget that. Stay curious.

RIP Larry King🙏🏻
#LarryKing
Are you drinking the #clubhouse Kool-Aid yet? Chee Are you drinking the #clubhouse Kool-Aid yet? Cheers, drink up 🥂my friend & keep your AirPods charged up like never before because I personally think this brand new audio-only social media app has massive opportunities and possibilities! 

Yes, Clubhouse is still in the very early beta stage and not yet widely available but I’m doubling down on it now. Why? Soooo many reasons which I’ve personally experienced after diving in the past four weeks. I’m no expert and no one really is because it’s still too new but I am loving it for the: 

✨Connections
✨Collaborations
✨Community

If I had a magic crystal ball🔮(bummer, mine’s in the shop), I’d predict that Clubhouse will only continue to grow as more users get access and help to co-create something that has never existed before unlike most of the other more recent social media platforms which has put a slight twist to “build a better mousetrap” on something that already existed,
i.e. Snapchat ➡️ IG Stories. 
Vine ➡️ TikTok.

Clubhouse is totally different. It’s not only innovative but it’s simple, easy (no makeup & no pants required) and fills a huge gap that other platforms simply cannot do to create that much needed two-way conversation. 

I’m not saying I’m abandoning my other social media content and audience growth strategies at all! Heck no especially when it comes to LIVE VIDEOS specifically on Facebook which is still my Number 1 & I’m TRIPLING DOWN on this year so I don’t find myself priced out of doing PAID ADS which I LOVE but I’m definitely continuing to test Clubhouse this year as a part of my overall social media strategy. 

So what about you? Are you all in? What do you love/dislike about it? And I’ll see you in the next room that I’m hosting/co-moderating in!
This. Is. Happening.🥳🎉🙏🏻 @amyporterfi This. Is. Happening.🥳🎉🙏🏻

@amyporterfield (Host of the Top Podcast, Online Marketing Made Easy & a dear friend + client), @sophiaamoruso (Founded @girlboss & Author), @tiyanarobinsonbeauty (Founder of Makeup Mogul) & me (Founder of Lights Camera Branding)!

This is the power & possibilities over on Clubhouse & I’m only 3 weeks in!

I’ve been sharing all my personal insights, experiences & exactly what I’m doing on my Weekly Facebook Live Show & Blog Show Notes!

I’ve been very intentional on who I’m following to curate Clubhouse to be like my personal “Ted Talks”, spend intentional time networking for those like me who are mega introverts (but smart enough to never use that as an excuse) & show up with MASSIVE VALUE to serve which creates more mind blowingly awesome connections!
Dear God, you have a very funny sense of humor. Wh Dear God, you have a very funny sense of humor. When I chose my word for 2021, EXPANSION, I should’ve been more specific to mean that did NOT include my waistline 😝 but it perfectly describes how I’ve been feeling heading into the new year.

✨EXPANSION beyond my comfort zone.
✨EXPANSION through my self-created limitations.
✨EXPANSION to INVITE new circles of friends, influence & create LOTS of seats at my table.
✨EXPANSION past playing small, EMBRACING change, the fears that accompany up-leveling & uncertainty.
✨EXPANSION of my FAITH!

I’ve always said, there’s nothing magical about January 1st. Every single day that we get the gift to wake up again, to live this life is a new chance, opportunity & clean slate to create whatever it is that you want & feel. It’s never too late to set those new goals right now. Even on a Friday. 

So what about you? I’d love to hear what your word, theme or intentions are for 2021🥰
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