Map your current revenue streams, set targets for where you want your revenue mix to be, and plan new income sources. A diversified business survives client losses and market shifts.
List every way your business generates revenue today. Include the approximate percentage each stream contributes to your total income. Then set a target percentage for where you want each stream to be in 12 months.
Brainstorm potential new revenue sources. For creative businesses, common options include: productised services (fixed scope, fixed price), digital products (templates, courses, guides), training and workshops, licensing your creative work, retainer agreements, and consulting or advisory work.
Set specific milestones. What will you launch in the next 30, 60, and 90 days? Revenue diversification does not happen overnight, but it does happen faster with a clear plan.
For each revenue stream (current and planned), note the main risk. What could cause this stream to dry up? How would you respond? The goal is not to eliminate risk but to understand it so you can prepare.