7+ Free Social Media Calendar Templates to Assist You Plan Your Content material

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Create your personal social media calendar with a step-by-step information, or use this free calendar template to get planning instantly.I’ve Added Multiple Revenue Streams to My Small Business — Here’s Why and  How I Balance It All

I want I may let you know that zeal at all times results in a worthwhile enterprise. 

Sadly, as I’ve discovered firsthand, that’s not routinely the case. I turned my lifelong love of studying and want to assist Black ladies into Socialight Society, a neighborhood bookshop in Lansing, Michigan, that caters to Black ladies who typically lack illustration in conventional bookstores. 

However, irrespective of how passionate I’m in regards to the books I curate or the Black authors I function, revenue margins in bookselling are simply too small nowadays to attain success from that alone. 

As a substitute of giving up on my dream, I made a decision to construct out a number of income streams. Along with promoting books, I began promoting presents and custom merchandise. I opened up our area for event rentals, and we’ve since hosted everybody and all the things from a launch social gathering for a self-published writer to community teams having enterprise mixers or workshops. 

I additionally supply creative consultations to assist individuals brainstorm their enterprise concepts, design their web sites or different enterprise property, or work towards their self-publishing targets.

Somewhat than taking away from my core enterprise, these income streams have given me the liberty to run my bookstore the best way I need with out having to emphasize as a lot about revenue.


I now have faith I’ll at all times not less than be capable of pay hire thanks to those backup sources, so I can focus extra on how I need to serve my community. Plus, by remaining versatile about how I earn money, I really feel assured my enterprise will be capable of climate altering financial circumstances and buyer preferences.

My philosophy is: When you have the capability to develop your corporation, achieve this. It may well carry in additional income and model consciousness, providing you with a greater likelihood of gaining new prospects.

Right here’s how I selected the best income streams for my enterprise and the way I steadiness all of them whereas making certain my core imaginative and prescient doesn’t undergo.

I contemplate the place my sources meet my prospects’ wants

Including new income streams can rapidly really feel like beginning one other enterprise, requiring you to study new expertise, spend money on extra sources, or spend a ton of time advertising to an extra buyer base. As a one-woman present, that’s the very last thing I wished.

To make it simpler on myself, I regarded for the pure overlap of my expertise, sources, and my prospects’ wants. For instance, individuals would repeatedly come into the bookstore and inform me about their struggles with publishing their very own books or starting their own businesses.

I had prior expertise doing visible branding and web site design as a facet hustle, plus loads of advertising, enterprise, and publishing data from operating Socialight Society, so I naturally began providing inventive consulting companies.

Equally, individuals would ask me if they might host occasions within the bookshop. Since foot visitors is mild a number of days every week, it was a simple selection to supply it up for leases.

My neighborhood has been such part of my assist system, and I’m an enormous proponent of making area for authors and artists native to Lansing or Michigan. So once I began receiving numerous inquiries from native authors who want to have their books on my cabinets, I began repeatedly internet hosting occasions that not solely spotlight new authors but additionally market the shop.

I additionally like to verify each new income stream aligns with my enterprise's bigger imaginative and prescient and goal. A giant a part of what we do with the bookstore is amplify tales and voices which are historically underrepresented — which can also be one thing I’m capable of do via inventive consulting once I’m serving to a enterprise proprietor with an internet site that tells their story, or a brand new writer with their private model. 

We’re all about constructing neighborhood, which extends to opening our area up for people to collect. Having this alignment makes it simpler to market all of those totally different income streams in a pure and cohesive method (extra on that in a minute). 


It’s important to do what is smart for you, your prospects, and your corporation. I don’t suppose it might be a no brainer for each bookstore to supply web site companies, however as a result of it’s one thing I’ve a background in and an issue my prospects want solved, it is smart for me. 

Construct relationships along with your prospects, take heed to what they honestly want, and contemplate all the alternative ways you could have the capability to assist them. 

I focus my advertising on the core enterprise

When your corporation has a number of choices, it may be straightforward to your advertising to really feel scattered. I wished to be aware that I wasn’t distracting from the books and from our core mission of elevating Black authors by additionally sharing my different companies. 

That’s why, initially, my social channels and e-mail advertising give attention to selling books by Black authors and neighborhood occasions we’re internet hosting that focus on Black ladies. 

When it’s organically aligned with that mission, I’ll additionally sprinkle in details about our different choices. For instance, when somebody hosted a enterprise mixer for Black feminine entrepreneurs on the store, I made positive to share some footage on our Instagram, together with info on methods to e-book the area for your self. It confirmed us holding area for Black ladies in step with our mission, and likewise gave us the prospect to advertise one other income stream. 


Outdoors of that, I largely market different income streams via one-on-one interactions. A buyer will are available in and inform me about how they’re struggling to self-publish or how they want social media assist for his or her enterprise, and I’ll point out my session companies. 

An writer will attain out about getting their new e-book on my cabinets, and I’ll point out the choice of internet hosting a launch social gathering. It’s not probably the most flashy advertising tactic, however it’s easy and works for me — and means I don’t need to take focus away from my predominant enterprise on social media.

I’m aware of not burning myself out

I gained’t sugarcoat it: Managing extra income streams if you’re already operating a enterprise creates extra work. I want I may let you know I’ve a secret to balancing all of it with grace, however in reality, I’ve had my justifiable share of nights working previous midnight to get all of it executed (particularly contemplating I’m a mother, too). Generally, to see your dream develop into a actuality, you simply need to do what must be executed.

I’m continually aware of making certain that I don’t push myself to the sting of burnout. I’ve a transparent understanding of what number of consulting shoppers or occasions I can handle on any given week, and I’ve needed to flip individuals away or counsel a distinct time-frame once I knew a possibility would push me past my limits. 


Even when the extra cash can be good, saying “no” in these moments means I may give 100% to the initiatives I do tackle, which will likely be a stronger reflection of the enterprise and result in extra prospects..  

It’s additionally necessary to floor your self in strong techniques to your major enterprise earlier than including different issues to the combo. I work on the bookstore Wednesday via Saturday and am ready to make use of downtime throughout these days to do branding work. The store is closed on Mondays and Tuesdays, which supplies us pure occasions to supply occasion leases and provides me admin days. It’s fairly easy, however these boundaries of how totally different income streams match into my days assist me handle all the things. 

I think about that issues will shift and alter as we develop. Ultimately, I’ll be capable of rent extra staff, which can open up more room for me to supply different companies. I could someday discover that my prospects want one thing totally different than what I initially thought or that one in all my secondary income streams is beginning to remove from the first enterprise. 

My aim is to at all times maintain the cement moist so I can alter primarily based on what works for me, my prospects, and my general enterprise targets.

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