3 Ways to Generate Revenue Through Partnerships + Community
As CEOs, leaders, and business owners, we’re always trying to come up with new ways to generate revenue. Within our own company, we have found great success in leveraging the power of our network and community to boost revenue and increase our overall visibility.
You don’t always have to spend money to make money. In fact, 2 of the 3 ideas we’re sharing here today are virtually free!
Let’s talk about what’s possible when you tap into the power of your partnerships and community.
#1: Generate revenue with affiliate marketing
Not enough leaders are taking advantage of affiliate marketing. It’s one of the easiest ways to make truly passive income, and there is no shortage of places to share your affiliate links once you have them set up.
Affiliate Marketing is when businesses pay you a commission or bonus when you share their product, offer, or service and someone buys through you.
So many of the services and products you’re already using in your business have affiliate marketing opportunities. It’s different at each company, but typically you just have to sign up and they will give you a link or code (or both) to share with your audience.
If you’re looking for places to find affiliate marketing opportunities, we recommend:
Software and platforms you use to run your business (like ClickUp, Dubsado, QuickBooks, etc)
Signing up for specific affiliate programs for products through platforms like Amazon or LTK
If you frequently refer clients to a specific business, you can always reach out and inquire about a possible referral bonus or affiliate link
Once you have your affiliate link, the key to making passive income is consistently sharing those links.
You can share affiliate links in so many places, including:
✓On your website (we have a page like this linked in our footer)
✓IG stories
✓Blog posts
✓Emails
✓IG reels or posts
✓Podcasts or when you're a guest on a podcast
✓YouTube video descriptions
People in your community want to buy and use resources, products, and offers that you have tried and truly love. Make sure you only recommend things that you have personal experience with and actually like.
If you’re already paying for a service or product that makes your work or life easier… might as well make some extra money by sharing it with others!
#2: Intentionally build and use your network
You may have heard the saying, “Your net worth is in your network.”
And after years of running and growing Elevate, we can 100% agree that this is spot on.
Where can you look to grow your own network?
Join your local Chamber of Commerce
Specific networking groups: for women, minorities, faith-based groups, small business owners, etc.
Teaching a “lunch and learn” or workshop for someone else's team or group
Work from a co-working space if you don't have your own office
Attend industry conferences or workshops
Sign up for a business retreat or mastermind
Host your own free workshop (in-person or virtually)
Join a nonprofit board or committee
Volunteer with an organization in your community
Sponsor an event
Invite a business owner to a coffee chat
Do a social media collaboration on a post or reel
Write a guest blog for a complementary business or industry
When networking and building connections, it’s always a good strategy to give more than you get. Be willing to share your expertise, support others, and give generously.
You should have a goal for each networking opportunity. If you want to increase your visibility, joining a large networking event and talking to as many people as possible may be the best approach.
But if you want to make a specific connection, inviting one business owner to a Coffee Chat and introducing a specific topic may be the best use of your time. Always network with a purpose!
Don't be afraid to put yourself out there! If you're not sure who to talk to, look for someone else who is on the outskirts of the group and strike up a conversation.
A strong, diverse network is one of the best ways to support your business, get in front of new audiences, and make valuable connections!
#3: Outsource to generate revenue
One of the best ways to truly step into your role as founder, leader, or CEO is to free up your time to focus on the visionary, executive decision-making, and leadership responsibilities that only you can do.
That almost always means letting go of other things you're used to doing.
Outsourcing, the practice of handing off specific tasks and responsibilities to someone outside your team, is one of the best ways to get more done without spending much more of your own time.
As we like to say: You can do anything, but not everything. That's where outsourcing comes in to save the day!
What can you outsource?
Social media marketing + management
Graphic design
Email marketing
Copywriting for your website or sales pages
Blog posts
Bookkeeping
Executive Assistants (we can help you with this one!)
Brand photography
Website and brand design
Marketing strategy
Ads
To get started, focus on your goals and backward plan what to outsource first. Know what you want to achieve and start with outsourcing things that will move you closer to your goals.
Then make sure you have a process in place. If you don't have an SOP for outsourcing, it may end up taking you more time instead of saving you time.
Hire the right professional and be patient. There can be a bit of a learning curve when working with someone new.
Finally, give clear, direct feedback. A contractor can't change something they don't know is wrong.
Outsourcing is an investment, and it can take some patience and work in the beginning, but it is one of our favorite ways to reach your goals faster and get more done!
Need help leveraging the power of your community?
At Elevate, we can help you whip your operations into shape so you can focus on effective revenue-generating projects like affiliate marketing, networking, and outsourcing!
If outsourcing things like your inbox cleanup, bookkeeping setup, hiring process, or SOP creation is on your list, we are here for you. Click here to see how our Get It Done Service can support your business goals.
