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Multiple Revenue Streams in Business: How to Choose, Plan, and Track Revenue Streams for Quilters

Updated: Jul 31, 2023

Andi Stanfield


Hey there, fellow quilting enthusiasts! Are you ready to level up your quilting business? Well, hold onto your thread spools because we're about to dive into the amazing benefits of multiple income streams. Don't limit yourself to a single revenue source, my friend! In this blog post, we'll explore why diversifying your quilting business is like adding extra colors to your fabric palette, making your journey more vibrant and profitable.


colorful quilt using rainbow colors

1. Financial Stability and Security

Let's talk money, shall we? By embracing multiple income streams, you're putting your quilting business on solid ground. No more relying solely on quilt sales for survival! You can expand your offerings to sell quilting supplies, host workshops, offer custom quilt design services, or even write quilting books. Diversifying your income sources acts as a safety net, cushioning you from financial uncertainties when quilt sales fluctuate. So, prepare to stack up those dollar bills and embrace the freedom that comes with financial stability!


woman standing and catching falling money

2. Wider Customer Reach

Why limit your quilting prowess to a small circle? With multiple income streams, you can cast your creative net wider! Each income stream attracts different quilting enthusiasts. Sell quilting supplies for DIY lovers, host workshops and classes for beginners eager to learn, or create online tutorials to engage a broader audience. By tapping into various customer needs and preferences, you'll expand your customer base and attract new followers to your quilting empire. So, get ready to welcome a diverse community of quilters and spread your creative magic like confetti!


a well filled lecture hall with a professor presenting

3. Unleash Your Creativity and Personal Growth

Venturing into different income streams isn't just about making money—it's a gateway to unlocking your inner creative genius! Designing fabric, creating patterns, or offering unique quilting-themed merchandise allows you to explore new artistic realms and expand your skill set. Teaching workshops or writing about quilting subjects deepens your expertise and fuels your continuous growth. Embrace the journey, my friend! By diversifying your income streams, you'll ignite your passion for quilting, fuel your creative fire, and open doors to exciting opportunities you never knew existed.


Andi Stanfield teaching a workshop

So, fellow quilting enthusiasts, there you have it—the secret sauce to taking your quilting business to the next level. Multiple income streams offer financial stability, broaden your customer reach, and unlock your creative potential. Embrace the freedom, explore new avenues, and watch your quilting business flourish. It's time to stitch together a quilt of success, one diverse income stream at a time!


Want a quick look at how multiple revenue streams can build your business? Download our Revenue Planner today! This easy-to-use spreadsheet will give you an overview of what it takes to reach your goals and help you understand the impact of having a variety of products and services.



Inside Peek into the Revenue Planner!

Before working in the Google Sheet: FIRST save a copy of the Google Sheet by clicking on "File", then click on "Make a Copy" and give it a unique name. Then follow the steps below:


Step 1: Type in your Annual Goal (the monthly goal will be automatically calculated!)

Goals Worksheet (this is your big picture):

Picture of the Revenue Planner showing the Google Excel Sheet

Step 2: Switch to the Income Streams Worksheet.

Step 3: Fill in your products, classes, and Services (where applicable).

picture of the second page of the revenue planner

Step 4: Do a little backward planning. How can you reach your revenue goal with the products and services you offer?

Step 5: Keep it updated and meet that Revenue goal!


Need a little assistance?




Enjoy your business and do a little quilting on the side!


 

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See more from author, Andi Stanfield, from True Blue Quilts!

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