What is a sustainable revenue stream?

Count Dracula (sesame street): Underlying text: Word of the day is revenue

Wow! so many fancy words patched together!

In simple words, it's a source of income that maintains itself, with minimum work, once created.

It can be a great way for you to earn some extra revenue!

Examples Of Sustainable Revenue Streams

Homer Simpson with an excited expression. Underlying text: Example Time

Here are some examples of a sustainable revenue stream.

  • blogging

  • affiliate marketing (earn commission from companies when people buy their product through you, usually using coupon code)

  • invest in stocks

  • create apps

  • create an online store

  • host a short-term rental on Air BnB or Superhost

Once you put the hard work into creating it, it generates income for you.

Steps To Create A Sustainable Revenue Stream

Three stages that will lead you to a sustainable revenue stream are:

  1. Build

    In this stage, you bring to life your idea of a revenue stream. It will require:

  • Time — Use your time efficiently in planning, building, and revising.

  • Money — You may need funds as an initial investment in starting the revenue streams.

  • Connections — Link with the right people to get more knowledge about current trends in your revenue stream. This will help your stream grow.

Once you're confident that your revenue stream is ready to launch, do it! Don't worry if it's not perfect. As you learn along the way, you can always revisit, tweak, and improve your revenue stream.

A puppy winking. Underlying text: who can do it, you can do it

  1. Grow

After building your income stream, you will need to work towards growing it. Here you may need to:

  • advertise and market through digital marketing

  • find new clients using your social and professional network

An animation of dollar bill growing from a plant in a flowering pot.

  1. Sustain

    In this stage, you sit back and watch your revenue stream work for itself. You may have to do some small tasks to manage and maintain your revenue stream.

    Homer Simpson using a fired up dollar bill to light up his cigar

    Patience, persistence, and choice of the right tools are the key to sustainability.

Quiz

Rachel wants to start an income stream. She has very good writing skills. Which income stream would you suggest her?

Example

What should Rachel do to use her writing skills to build, grow, and sustain a revenue blogging revenue stream?

A little boy looking at a lady with skepticism. Underlying text: You telling me people make money from blogging?

  1. Build — Rachel should build her own website where she can blog about a target niche that interests her.

  2. Grow — She can grow her blog by having a social media presence. She can monetize it through affiliate marketing, where she can write promotional content for various sellers. She can also give space on her website for sponsors.

  3. Sustain — She can be a guest blogger for media to promote her work. This will retain her presence amongst bloggers.

Take Action

Rober Downey Jr. in Iron man, spreading his arms open. Underlying text: Let's do this.

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This Byte has been authored by

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Sara Pirani

Engineer, educator, life long learner