Basically, the idea is to force me to think through ways of diversifying my business product portfolio to include passive and active streams of income.
What does this mean?
Well, in a nutshell, an active stream of income is one in which I'm actively making something for a client - like my custom scrapbook/card designs. Whereas a passive stream of income would be one in which some work would be done upfront, but then you're done with the active creation of the product. For example, if I launched my own stamp collection...I would actively create the designs, but that would only happen once. People would then buy multiple copies of that same design (I hope) making it a passive stream of income.
My mind is racing with ideas and I've pretty much narrowed things down to three key areas (in addition to my custom work). I'm excited to continue working through them and hope to be able share my progress with all of you.
One thing that has become more apparent to me is that I need to change the name of my company. I'm toying with the following ideas, and would welcome some feedback.
- Nubia Cháidez Studios - keep my name/brand upfront and allow the studios to be different product design elements (scrapbooks, cards, invitations, decor, stamps, etc)
- Nubia's Crafty Creations - another version of how to expand the name to include the other things I can do.
- Nubia Cháidez Designs - you get the idea
I'm also toying with idea of launching a new blog (with a much updated version of my website). This blog would be directly linked to my website so that customers could order directly and so that I focus some of my blogging energy on ways of promoting my business. One of my goals for that include launching tutorials that focus on culturally-motivated scrapbooking, starting with Latino focused designs.
On the car ride home, I actually thought of three days for particular posts:
- Tutorial Tuesdays
- Feel Good Fridays - to marry my non-profit expertise/love with my crafting...either launching fundraising campaigns, taking part in others' crafty causes, or showcasing some of the many incredible groups out there
- Showcase Sundays
Now if only I had more days to intently focus on this stuff.
What do you think?