{"id":85905,"date":"2023-05-17T03:00:00","date_gmt":"2023-05-17T10:00:00","guid":{"rendered":"https:\/\/honeybook-blog.site.strattic.io\/?p=85905"},"modified":"2023-05-26T10:07:50","modified_gmt":"2023-05-26T17:07:50","slug":"multiple-revenue-streams","status":"publish","type":"post","link":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/multiple-revenue-streams","title":{"rendered":"How I made a quarter million dollars in the creator economy with multiple revenue streams"},"content":{"rendered":"\n<div class=\"wp-block-stackable-image stk-block-image stk-block stk-a9ce747\" data-block-id=\"a9ce747\"><figure class=\"stk-img-wrapper stk-image--shape-stretch\"><img fetchpriority=\"high\" decoding=\"async\" class=\"stk-img wp-image-86796\" src=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Jay-Clouse.jpg\" width=\"2000\" height=\"1548\" alt=\"Donald Miller Podcast\" srcset=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Jay-Clouse.jpg 2000w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Jay-Clouse-300x232.jpg 300w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Jay-Clouse-1024x793.jpg 1024w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Jay-Clouse-768x594.jpg 768w, https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Jay-Clouse-1536x1189.jpg 1536w\" sizes=\"(max-width: 2000px) 100vw, 2000px\" \/><\/figure><\/div>\n\n\n\n<p>How can creators create more financial security in their businesses? What is the future of work and technology? How many revenue streams should every creative business have? In this conversation with Jay Clouse, we\u2019re going deep into running a creative business. From managing cash flow to adapting to technology, he\u2019s giving us a behind-the-curtain look into his success.<\/p>\n\n\n\n<p>Jay is the founder of <a href=\"https:\/\/creatorscience.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Creator Science<\/a>, which helps you become a smarter creator. He previously led the community experience team for Pat Flynn and Smart Passive Income, designing their paid membership community and cohort-based course programs.<br>The <a href=\"https:\/\/podcast.honeybook.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Independent Business podcast<\/a> is powered by <a href=\"https:\/\/honeybook.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">HoneyBook<\/a>, the all-in-one platform for anyone with clients. Book clients, manage projects, get paid faster, and have business flow your way with HoneyBook. Use the code PODCAST to get 20% off your first year as a new member.<\/p>\n\n\n\n<iframe src=\"https:\/\/embed.acast.com\/642c3f15a5f38c0011f3c907\/6458fb95cf83910011ef7f6d?bgColor=000000&#038;font-family=Metrophobic&#038;font-src=https%3A%2F%2Ffonts.googleapis.com%2Fcss%3Ffamily%3DMetrophobic\" frameBorder=\"0\" width=\"100%\" height=\"110px\"><\/iframe>\n\n\n\t\t<div data-elementor-type=\"section\" data-elementor-id=\"84892\" class=\"elementor elementor-84892\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div class=\"elementor-element elementor-element-91ebf4f e-flex e-con-boxed e-con e-parent\" data-id=\"91ebf4f\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-1b1456a e-flex e-con-boxed e-con e-parent\" data-id=\"1b1456a\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-33eedbe elementor-widget elementor-widget-heading\" data-id=\"33eedbe\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Follow the Independent Business podcast<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3411d8e e-flex e-con-boxed e-con e-parent\" data-id=\"3411d8e\" data-element_type=\"container\" data-settings=\"{&quot;jet_parallax_layout_list&quot;:[]}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1cccfd8 elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"1cccfd8\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div 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target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-podcast\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M267.429 488.563C262.286 507.573 242.858 512 224 512c-18.857 0-38.286-4.427-43.428-23.437C172.927 460.134 160 388.898 160 355.75c0-35.156 31.142-43.75 64-43.75s64 8.594 64 43.75c0 32.949-12.871 104.179-20.571 132.813zM156.867 288.554c-18.693-18.308-29.958-44.173-28.784-72.599 2.054-49.724 42.395-89.956 92.124-91.881C274.862 121.958 320 165.807 320 220c0 26.827-11.064 51.116-28.866 68.552-2.675 2.62-2.401 6.986.628 9.187 9.312 6.765 16.46 15.343 21.234 25.363 1.741 3.654 6.497 4.66 9.449 1.891 28.826-27.043 46.553-65.783 45.511-108.565-1.855-76.206-63.595-138.208-139.793-140.369C146.869 73.753 80 139.215 80 220c0 41.361 17.532 78.7 45.55 104.989 2.953 2.771 7.711 1.77 9.453-1.887 4.774-10.021 11.923-18.598 21.235-25.363 3.029-2.2 3.304-6.566.629-9.185zM224 0C100.204 0 0 100.185 0 224c0 89.992 52.602 165.647 125.739 201.408 4.333 2.118 9.267-1.544 8.535-6.31-2.382-15.512-4.342-30.946-5.406-44.339-.146-1.836-1.149-3.486-2.678-4.512-47.4-31.806-78.564-86.016-78.187-147.347.592-96.237 79.29-174.648 175.529-174.899C320.793 47.747 400 126.797 400 224c0 61.932-32.158 116.49-80.65 147.867-.999 14.037-3.069 30.588-5.624 47.23-.732 4.767 4.203 8.429 8.535 6.31C395.227 389.727 448 314.187 448 224 448 100.205 347.815 0 224 0zm0 160c-35.346 0-64 28.654-64 64s28.654 64 64 64 64-28.654 64-64-28.654-64-64-64z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apple<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b670f6 elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"9b670f6\" 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10.2903 19.2192 10.258 19.3142C10.2258 19.4092 10.1755 19.4969 10.1099 19.5722ZM29.1052 2.22647e-07C25.3293 2.22647e-07 21.9557 2.0293 20.0011 4.99451C18.0465 2.0293 14.6707 2.22647e-07 10.8948 2.22647e-07C9.46398 -0.000291128 8.04713 0.285361 6.72519 0.84064C5.40324 1.39592 4.2021 2.20994 3.19037 3.23621C2.17864 4.26248 1.37614 5.48089 0.828731 6.82183C0.281319 8.16278 -0.000287004 9.59998 2.19493e-07 11.0513C2.19493e-07 14.9236 2.41815 17.7159 4.94343 20.2996L14.8215 29.7741C14.9368 29.8847 15.0814 29.9586 15.2376 29.9866C15.3938 30.0147 15.5547 29.9957 15.7003 29.932C15.846 29.8683 15.97 29.7626 16.0571 29.6281C16.1442 29.4936 16.1904 29.3362 16.1902 29.1753V21.7944C16.1902 19.6587 17.8956 17.9288 20.0011 17.9243C21.0118 17.9261 21.9806 18.3346 22.6946 19.0602C23.4087 19.7858 23.8098 20.7692 23.8098 21.7944V29.1753C23.8098 29.8983 24.6625 30.2687 25.1785 29.7741L35.0566 20.2996C37.5819 17.7159 40 14.9236 40 11.0513C40.0003 9.59998 39.7187 8.16278 39.1713 6.82183C38.6239 5.48089 37.8214 4.26248 36.8096 3.23621C35.7979 2.20994 34.5968 1.39592 33.2748 0.84064C31.9529 0.285361 30.536 -0.000291128 29.1052 2.22647e-07Z\" fill=\"white\"><\/path><\/g><defs><clipPath id=\"clip0_101_2\"><rect width=\"40\" height=\"30\" fill=\"white\"><\/rect><\/clipPath><\/defs><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">iHeart Radio<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-962fa2c elementor-align-center elementor-widget__width-initial elementor-widget elementor-widget-button\" data-id=\"962fa2c\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.youtube.com\/@HoneyBook\/videos\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-youtube\" viewBox=\"0 0 576 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M549.655 124.083c-6.281-23.65-24.787-42.276-48.284-48.597C458.781 64 288 64 288 64S117.22 64 74.629 75.486c-23.497 6.322-42.003 24.947-48.284 48.597-11.412 42.867-11.412 132.305-11.412 132.305s0 89.438 11.412 132.305c6.281 23.65 24.787 41.5 48.284 47.821C117.22 448 288 448 288 448s170.78 0 213.371-11.486c23.497-6.321 42.003-24.171 48.284-47.821 11.412-42.867 11.412-132.305 11.412-132.305s0-89.438-11.412-132.305zm-317.51 213.508V175.185l142.739 81.205-142.739 81.201z\"><\/path><\/svg>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">YouTube<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n\n\n\n<p class=\"has-text-align-center\"><a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/episode-9-transcript\" target=\"_blank\" rel=\"noreferrer noopener\">Transcript<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Managing cash flow when starting a business<\/h2>\n\n\n\n<p>Managing cash flow comes with a learning curve when you are a new independent business owner. When Jay first started selling mastermind courses, he made the mistake of setting his prices high enough to cover his living expenses, but not high enough for taxes and savings. Another thing to factor in is seasonality and how to manage cash flow through slow seasons. You don\u2019t want to be left with no money if people aren\u2019t buying for reasons out of your control.<\/p>\n\n\n\n<p>When the pandemic first hit in 2020, many service-based businesses did not have savings or emergency funds to get them through the year. The sooner you learn to manage the cash flow in your business, the more prepared you can be for unexpected things to happen, like an illness or having a baby.<\/p>\n\n\n\n<div id='lightbox-inline-form-f7d37f1b-4a8e-4762-b0ea-9424de78c464'><\/div><div id='variation-inline-form-var-06ce7aab-c2b7-42fb-9ae9-4a8b3ecc2673'><\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Changing the narrative about consistency<\/h2>\n\n\n\n<p>Consistency is preached in business workshops all around the world, and sometimes it gives independent business owners the wrong idea. Consistency does not have to be about publishing content every single day. Instead, it should look like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Providing others with a consistent experience with your business and work<\/li>\n\n\n\n<li>Consistently providing value every time you show up<\/li>\n\n\n\n<li>Consistently improving and challenging yourself<\/li>\n<\/ul>\n\n\n\n<p>Consistency also looks like putting in the time and effort to put systems in place that will help you focus on your creative work. The more infrastructure you set up in the beginning of your business, the more you can focus on what you love to do later. Jay advises new business owners that it\u2019s always the hardest at the beginning. As you continue to grow your business, find what works, and learn new skills, daily operations become smoother and easier to manage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The future of work will shift where human intervention and creativity are needed<\/h2>\n\n\n\n<p>Jay feels both pessimistic and optimistic about the future of work and technology. When used with good intentions, technology will create a future where people do not have to work as much to earn their living. However, where people are needed could begin to shift as technological tools advance. The more <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/ai-in-business\" target=\"_blank\" rel=\"noreferrer noopener\">AI can handle the client services<\/a> such as copywriting and photo editing, the more humans will shift into QA roles.&nbsp;<\/p>\n\n\n\n<p>He recommends that independents in service-based businesses use this time to <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/artificial-intelligence-solutions\" target=\"_blank\" rel=\"noreferrer noopener\">get comfortable with the new tools<\/a> and learn how to work with them instead of resisting them. There is a huge window of opportunity to become an expert at new technology and offer help to businesses that lag behind.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Jay\u2019s must-have technology for independent business owners<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.notion.so\/\" target=\"_blank\" rel=\"noreferrer noopener\">Notion<\/a> for task management, content planning, and notes<\/li>\n\n\n\n<li><a href=\"https:\/\/riverside.fm\/?utm_term=riverside%20podcast&amp;utm_campaign=google_search_ww_desktop_brand_exact&amp;utm_source=google&amp;utm_medium=cpc&amp;hsa_acc=5612739488&amp;hsa_cam=17284051386&amp;hsa_grp=136357786469&amp;hsa_ad=598676487314&amp;hsa_src=g&amp;hsa_tgt=kwd-920953684540&amp;hsa_kw=riverside%20podcast&amp;hsa_mt=e&amp;hsa_net=adwords&amp;hsa_ver=3&amp;gad=1&amp;gclid=CjwKCAjwuqiiBhBtEiwATgvixKRgWCE2GBx_ocwuwfiCPpVr7a0vPkEZMqTtoHeTPiGxpD4MCkomlhoC56UQAvD_BwE\" target=\"_blank\" rel=\"noreferrer noopener\">Riverside<\/a> for podcast production<\/li>\n\n\n\n<li><a href=\"https:\/\/ghost.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ghost<\/a> for website hosting<\/li>\n\n\n\n<li><a href=\"https:\/\/www.dropbox.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Dropbox<\/a> for file sharing<\/li>\n\n\n\n<li><a href=\"https:\/\/slack.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Slack<\/a> for team communication<\/li>\n<\/ul>\n\n\n\n<center><blockquote class=\"instagram-media\" data-instgrm-permalink=\"https:\/\/www.instagram.com\/reel\/CsV-8a8rK3h\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"14\" style=\" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);\"><div style=\"padding:16px;\"> <a href=\"https:\/\/www.instagram.com\/reel\/CsV-8a8rK3h\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;\" target=\"_blank\" rel=\"noopener\"> <div style=\" display: flex; flex-direction: row; align-items: center;\"> <div style=\"background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;\"><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;\"><\/div><\/div><\/div><div style=\"padding: 19% 0;\"><\/div> <div style=\"display:block; height:50px; margin:0 auto 12px; width:50px;\"><svg width=\"50px\" height=\"50px\" viewBox=\"0 0 60 60\" version=\"1.1\" xmlns=\"https:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"https:\/\/www.w3.org\/1999\/xlink\"><g stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\"><g transform=\"translate(-511.000000, -20.000000)\" fill=\"#000000\"><g><path d=\"M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631\"><\/path><\/g><\/g><\/g><\/svg><\/div><div style=\"padding-top: 8px;\"> <div style=\" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;\">View this post on Instagram<\/div><\/div><div style=\"padding: 12.5% 0;\"><\/div> <div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\"><div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div> <div style=\"background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div><\/div><div style=\"margin-left: 8px;\"> <div style=\" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div> <div style=\" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)\"><\/div><\/div><div style=\"margin-left: auto;\"> <div style=\" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div> <div style=\" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div> <div style=\" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div><\/div><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;\"><\/div><\/div><\/a><p style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;\"><a href=\"https:\/\/www.instagram.com\/reel\/CsV-8a8rK3h\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;\" target=\"_blank\" rel=\"noopener\">A post shared by HoneyBook (@honeybook)<\/a><\/p><\/div><\/blockquote> <script async src=\"\/\/www.instagram.com\/embed.js\"><\/script><\/center>\n\n\n\n<h2 class=\"wp-block-heading\">How to build multiple revenue streams<\/h2>\n\n\n\n<p>In addition to using multiple tools to streamline Jay\u2019s clientflow, he used multiple income streams to generate revenue. In the debate of influencers vs user-generated content (UGC), Jay encourages creators to focus on direct streams of revenue over indirect streams. Direct streams do not have a third party involved. Sponsorships and brand deals fall under indirect revenue streams, which are great to have to diversify income, but should not be the basis of revenue generation in a creative business.&nbsp;<\/p>\n\n\n\n<p>In 2022, Jay had 41 separate income sources. They broke down into seven buckets of income:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Affiliate partnerships (26 affiliate partnerships, with three of them making up 80% of his affiliate revenue)<\/li>\n\n\n\n<li>Memberships<\/li>\n\n\n\n<li>Digital products<\/li>\n\n\n\n<li>Sponsorship<\/li>\n\n\n\n<li>Royalties<\/li>\n\n\n\n<li>Patronage<\/li>\n\n\n\n<li>Services<\/li>\n<\/ul>\n\n\n\n<p>The benefit of having multiple revenue streams is that you can predict a consistent income each month even though the amount that each bucket brings in ebbs and flows. For example, digital products may have a record-breaking month in March and down months in April and May. With multiple revenue streams, there is always another source of income to balance out the seasonality of business.&nbsp;<\/p>\n\n\n\n<p>However, building multiple revenue streams at the same time can become distracting and cause them all to underperform. Jay recommends focusing on building one strong direct revenue stream first before introducing other direct and indirect streams.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Is it a good or bad time to start a business?<\/h2>\n\n\n\n<p>With doomsday news articles about the economy crashing, many people are wondering whether now is even <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/independent-business-statistics\" target=\"_blank\" rel=\"noreferrer noopener\">a good time to start a new business<\/a> or not. The reality is that there is just as much risk in a W2 job, and not as much reward.&nbsp;<\/p>\n\n\n\n<p>In Jay\u2019s opinion, there is cultural conditioning to think that employment is a binary thing. You are either employed or you are not. However, <a href=\"https:\/\/hbbadmin.dev.reliablepenguin.com\/blog\/independent-business-owner-stats\" target=\"_blank\" rel=\"noreferrer noopener\">there is no real job security in a W2 job<\/a> because it can go away at any time. Working a W2 job is the same thing as being a service-based freelancer with only one client.<\/p>\n\n\n\n<p>Being a creator and doing work on the side makes you infinitely more employable. It builds skills and equity that compound over time. If you are willing to put in time upfront and do more administrative work, creating a business of your own is far more secure and lucrative than working a W2 job.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The biggest differentiator between the businesses that succeed and the ones that fail<\/h3>\n\n\n\n<p>Jay believes that businesses that succeed are willing to take in new information, adapt to it, and constantly improve. They are unwilling to fail the same way twice, which gives them no choice but to innovate and create the inevitability of success.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Important sections of the conversation<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>[3:39] Get to know Jay<\/li>\n\n\n\n<li>[8:58] How to learn from peaks and valleys in business<\/li>\n\n\n\n<li>[12:11] Learning as you scale your business<\/li>\n\n\n\n<li>[18:02] The future of work<\/li>\n\n\n\n<li>[25:41] Must-have technology for independent business owners<\/li>\n\n\n\n<li>[27:33] Direct vs indirect revenue streams<\/li>\n\n\n\n<li>[32:29] How to build multiple revenue streams<\/li>\n\n\n\n<li>[40:15] Why it\u2019s a good time to start a business<\/li>\n\n\n\n<li>[48:08] The biggest differentiator between the businesses that succeed and the ones that fail<\/li>\n<\/ul>\n\n\n\n<div id='lightbox-inline-form-72d76c86-612d-405d-b925-c461f6acfb95'><\/div><div id='variation-inline-form-var-143a635f-7d64-4314-88c6-796252bc7e73'><\/div>\n\n\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Sources mentioned in this episode<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.notion.so\/\" target=\"_blank\" rel=\"noreferrer noopener\">Notion<\/a>&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/riverside.fm\/?utm_term=riverside%20podcast&amp;utm_campaign=google_search_ww_desktop_brand_exact&amp;utm_source=google&amp;utm_medium=cpc&amp;hsa_acc=5612739488&amp;hsa_cam=17284051386&amp;hsa_grp=136357786469&amp;hsa_ad=598676487314&amp;hsa_src=g&amp;hsa_tgt=kwd-920953684540&amp;hsa_kw=riverside%20podcast&amp;hsa_mt=e&amp;hsa_net=adwords&amp;hsa_ver=3&amp;gad=1&amp;gclid=CjwKCAjwuqiiBhBtEiwATgvixKRgWCE2GBx_ocwuwfiCPpVr7a0vPkEZMqTtoHeTPiGxpD4MCkomlhoC56UQAvD_BwE\" target=\"_blank\" rel=\"noreferrer noopener\">Riverside<\/a>&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/ghost.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ghost<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.dropbox.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Dropbox<\/a>&nbsp;<\/li>\n\n\n\n<li><a href=\"https:\/\/slack.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Slack<\/a>&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Connect with the guest<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Website:<\/strong> <a href=\"https:\/\/creatorscience.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">creatorscience.com<\/a><\/li>\n\n\n\n<li><strong>Instagram:<\/strong> @jayclouse&nbsp;<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>How can creators create more financial security in their businesses? What is the future of work and technology? How many revenue streams should every creative business have? In this conversation with Jay Clouse, we\u2019re going deep into running a creative business. From managing cash flow to adapting to technology, he\u2019s giving us a behind-the-curtain look [&hellip;]<\/p>\n","protected":false},"author":855,"featured_media":86328,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[513],"tags":[502,526,527],"class_list":["post-85905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-independent-business-podcast","tag-income","tag-multiple-revenue-streams","tag-revenue"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog.png",3250,2515,false],"thumbnail":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog-150x150.png",150,150,true],"medium":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog-300x232.png",300,232,true],"medium_large":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog-768x594.png",768,594,true],"large":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog-1024x792.png",1024,792,true],"1536x1536":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog-1536x1189.png",1536,1189,true],"2048x2048":["https:\/\/hbb.dev.reliablepenguin.com\/blog\/wp-content\/uploads\/2023\/05\/Multiple-Revenue-Streams-Jay-Clouse-Blog-2048x1585.png",2048,1585,true]},"post_excerpt_stackable_v2":"<p>How can creators create more financial security in their businesses? What is the future of work and technology? How many revenue streams should every creative business have? In this conversation with Jay Clouse, we\u2019re going deep into running a creative business. From managing cash flow to adapting to technology, he\u2019s giving us a behind-the-curtain look into his success. Jay is the founder of Creator Science, which helps you become a smarter creator. He previously led the community experience team for Pat Flynn and Smart Passive Income, designing their paid membership community and cohort-based course programs.The Independent Business podcast is powered&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/hbb.dev.reliablepenguin.com\/blog\/category\/independent-business-podcast\" rel=\"category tag\">Independent Business podcast<\/a>","author_info_v2":{"name":"Haylee Gaffin","url":"https:\/\/hbb.dev.reliablepenguin.com\/blog\/author\/hayleegaffin"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How I Made a Quarter Million With Multiple Revenue Streams | HoneyBook<\/title>\n<meta name=\"description\" content=\"Lessons from making a quarter million dollars in the creator economy and how how you can too with multiple revenue streams.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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