Tuesday, September 27, 2011

The Power of Multiple Profit Centers

I tweeted a couple weeks ago about some multiple profit centers I've been working on and wanted to share what's in development. 

I've always been a fan of the concept of multiple profit centers since hearing Barbara Winters lecture at the BCAE. I've mentioned before about how her book Making a Living Without a Job was one of the most influential books I've read about being in control of my life. It is so important to diversify one's sources of income. 

Here are a few projects I have in the works: 
  • Destination Wedinars: this was my business that I submitted for the NYPL's StartUP! business plan competition. I have not given up on it and even Mr. Love Bird has "invested" in wanting to take beyond destination weddings although we're having a bit of debate on niche vs. not. For now I'm just consulting one on one but hope to have launched big time by this time next year.
  • Juice in the City: I am a Local Business Consultant seeking mom-focused group deals to share with other moms. It's hyper-local and I'm giving it a try in my neighborhood. I'm excited to be a part of it and it's very mom friendly
  • Etsy: As I get better at sewing I have an awesome concept that I'm going to be rolling out next spring so I have all fall and winter to perfect my craft. I'm VERY excited about this!
  • Life Coaching: I abhor the title "life coach," but as I've shared before I definitely want to take the role I've started to find myself in as a"go-to guide" for the quarter-life crisis set and expand it further which is somewhat linked to my next profit center . . .
  • Public Speaking: Those of you who follow me on Twitter know I tweet about Toastmasters all the time. I achieved the first level of distinction (Competent Communicator) in January and am now excited to start the next level which is the Advanced Communicator. The series I've selected for the 5 of the 10 speeches for this level is the Professional Speaker. I'm very excited to complete this and have already started seeking out speaking gigs. I'm really motivated by fellow Toastmaster Jonathan Sprinkles' story (you can read it here). Amazing stuff!
So are you looking for multiple profit centers too or do you already have some? No matter which position you're in, here are a few articles/resources I wanted to share that I've found inspirational:
  1. Springwise: I wrote a post about it here, but essentially this is a round-up of business ideas worldwide. I find it gets my creative juices flowing.
  2. Finding funding and a Support Network: besides NYPL's competition, which is unique to NYC, there's Daily Candy's Start Small Go Big competition. There are so many similar funding opportunities and a couple places other places to check out are Ladies Who Launch and Savor the Success.
  3. Articles of inspiration:
  4. This video:
 Dooce: Working from Home video:
How to Work From Home from dooce on Vimeo.

*****UPDATE*****

Another resource I wanted to share: Jon Acuff's blog Stuff Christian's Like is one of my favorites, and his new book Quitter is on my reading list. Check out the promo video:




What are your tips for creating multiple profit centers?

3 comments:

  1. I am totally clueless about creating profits centers, but I am definitely going to review some of the links you shared. ;) Thanks!

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  2. I had never heard of "profit centers" before but now I'm super interested, especially as a freelancer. I'm going to check it out, especially things like Toastmasters.

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  3. This comment has been removed by the author.

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