Collaborate With Other Players In Your Niche 

Here’s an easy way to double your income. Put yourself in front of twice as many people who are interested in what you have to offer. Of course that is easier said than done. Getting traffic and exposure is one of the hardest things to accomplish as the internet grows and expands. Sure, you could throw a lot of money at the problem and accomplish it with well placed ads, but that’s not a viable option for most of us. 

A great way to get in front of a new audience interested in what you have to say is to find someone else who’s doing something similar to what you’re doing. In other words, find other players in your niche, or closely related niches and start to collaborate. For example, let’s say you’re selling a guide on growing tomatoes. Go find a few bloggers and marketers who are also in the gardening niche. This could be someone who blogs about organic gardening, or someone who sells container gardening kits, or books on how to grow all the vegetables you need in your backyard. You won’t be competing directly, but instead complementing each other. Your audience will be interested in additional organic gardening tips, and they may want to purchase a container kit that makes it easier to grow those tomatoes. Do you see how this could work? 

Approach the other players in your niche and see how you can work together. A great place to start is to offer to share something of theirs with your readers first. If the person sells a product, ask if you can interview them, or see if they have a special coupon you can share with your readers. If they have an affiliate program, you can even profit from sharing this with your readers. 

Next, ask if they would be interested in sharing you with their own audience. This is always your end goal, but you have to make it worth their while. Depending on your business model, there are several different ways to accomplish this. If you have a paid product, and an affiliate program, it makes it easy. You can also offer to create unique content for the other person’s audience. 

No matter what you decide to do, make it as easy as possible and do whatever you have to do to get your fellow blogger or info product creator to email his or her list for you. Mentions on social media and blog posts are great, but your ultimate goal should always be to get them to mail for you. When they do, your next goal is to get these people on your own list and to turn them into paying customers.

Track What’s Working And Use The 80/20 Rule 

One of the best ways to double your income is to figure out what’s working and doing more of that. Sounds simple enough, doesn’t it? The problem is that you first have to know exactly what’s working and what isn’t. The best way to do that is to track everything. From there you look at your data and make a plan for what you should and shouldn’t be doing going forward. 

Your first step will be to decide what you want to track. This will be a little different for everyone depending on your business and what you do on a daily, weekly, and monthly basis. A good place to start is to look at income and expenses, products or different sources of income, and of course where you spend most of your time. 

Let’s say you start to track where your income is coming from. If possible, go back and look at the last six to twelve months of financial data. Did you make money selling your own products? Did you get large affiliate commission checks? Did you sell advertising on your websites? 

Next you want to look at expenses related to that income. You’ll have some fixed expenses like hosting your website for example, that you should ignore for the purpose of this exercise. Look at cost directly related to each source of income. For example, in order to launch your products, you may hire a graphic designer, a VA, and pay for your shopping cart software. 

You may also be paying commissions to affiliates promoting your products. Subtract those costs from the income you’ve made to get a good feel for your actual profits. Other sources of income will have little to no expenses. Once you’ve adjusted your income figures to reflect the profit you’ve made, you can start to compare. 

Last but not least, look at the amount of time you’re spending to generate the income. It may take you a full month of working twelve hour days to launch a new big course. On the other hand, you may be able to put together a short eBook or fresh membership content in a day or two by leveraging content you’ve already written or buying pre-written content. Look at the time it takes for each type of product and compare this to the amount of money you expect to make from the launch and going forward. This will help you decide what’s the most profitable way to spend your time. 

With all the information at your fingertips, it will be easy to decide what you should be doing more off, what you should be doing less off, and what you should stop doing. Focus most of your time and energy on the most profitable products and income sources. Work on it for a good six months and look at how much your profits went up. I wouldn’t be surprised if this one strategy alone allows you to double your income.