In today’s economic climate, it is important for us all to be open to new income opportunities. People working in the service industries are particularly vulnerable, because when their clients or customers become uncertain about their own financial futures, it is usually non-essential services that are first to be sacrificed.
Multiple Income Streams for Health Professionals
Most health professionals find ways to generate additional income in their businesses. Looking back on my time working as a Personal Trainer, I used to have my own one-to-one clients, I used to deliver group exercise classes, I used to attend health seminars and I even did some health events in conjunction with the local council. Having different streams of income provided stability in my business, because if I lost a client then I could take on an extra class and vice versa.
It should be apparent why this is a sensible thing to do in any business, particularly in health and wellness. It is difficult to forecast what may happen later in your business, or in the sector as a whole (with any degree of certainty).
Passive Income for Health Professionals
We all know what it is like when there doesn’t seem to be enough hours in the day. When I first started working as a freelance Personal Trainer I had plenty of opportunities to generate additional income, but it was usually at the expense of my free time. The challenge for people in this situation and in this type of industry is finding the right balance between the number of hours they are willing to work and the amount of money they wish to make.
By passive income I mean income where you are not trading time for money. This can be achieved by having processes or systems in place that work for you all day, every day. When I refer to ‘things that most of us do anyway’ I mean recommending products that can help your clients in their quest for better health.
Have you ever recommended a book or a piece of exercise equipment to your clients? Did you get paid by the author or company for the recommendation? If not, you are missing opportunities to generate passive income!
Direct Selling Companies
You may or may not have heard of direct selling. According to the Direct Selling Association, consumers spent in excess of $32 billion on products from companies of this type in the US alone! Direct sales companies often have business opportunities for Independent Associates who wish to promote their products or services, in exchange for commissions.
If you partner with the right companies then you can earn exceptional commissions and you don’t even need to take any payments, or package and ship any products. These companies distribute their products using ‘drop-shipping’, where the customer orders direct and the products are delivered to their own home address. You get paid your commission just for recommending the products and for referring those customers to the direct selling company, who fulfill those orders on your behalf.
Let’s assume you currently recommend vitamins and minerals to your clients. When your clients purchase those vitamins and minerals you get nothing in return. Your client will appreciate your recommendation, because their health will benefit as a result, but you do not get rewarded for making the recommendation (that is unless you are working with a direct selling company that manufactures the products).
It actually gets better than that! Because supplements are consumable, you can earn commissions each month when the customers that you have referred place additional orders. They are essentially your customers and you get paid on every order that they place in the future!
My Personal Direct Sales Home Business
I set up as a freelance Personal Trainer over 10 years ago and in 2006 I also started working with a direct sales company who manufacture world-leading, pharmaceutical grade nutritional supplements. I used to recommend the products to my clients who frequently placed orders and I received my commissions for the referral.
In 2010 I stopped working as a Personal Trainer but I kept my home business with this company. Why? Because I still had active customers and I was still earning commissions. I still earn commissions on orders placed by customers that I introduced back in 2006!
As I am a health-conscious individual and do everything I can to improve my own health, I personally use the products that I promote and I still recommend them to people that I meet. I also market the products online and regularly enroll new customers into my business. I have received numerous awards based on the numbers of customers that I have introduced and this is largely due to the Internet Marketing strategies that I now employ. Today, I would find it hard to even imagine not having a home business, as I appreciate the passive, recurring income that it brings!
If you would like suggestions on how to generate multiple streams of passive income to support and strengthen your healthcare business then please click the link below:
For information about the products that I personally promote (and that you could promote too!), click below: