How to Build Multiple Revenue Streams with Charles Byrd

Foreign. You know, when I was just starting my career, my dad would always give me incredibly valuable advice. Like, I grew up in the home of two entrepreneurs. And so that was super helpful. But I vividly remember calling my dad and complaining about, you know, that I wasn't getting paid very well for a job or maybe I wasn't sure that the job was secure. And my dad's response was always something valuable. And this, this time he said, I want you to get comfortable, really comfortable developing multiple revenue streams and have them come from different people. Because you never know when one stream stops. And the way that you safeguard yourself and is you develop multiple paths and in doing so, you can grow in scale as you desire. And I think about that advice all the time. What, what does multiple revenue streams even look like? And then once I start to imagine it, then I can go and execute it, especially when I'm trying to get to the next level in revenue generation. Now, if you already have one existing revenue stream, maybe it isn't consistent enough for you, or maybe you have killer months where you just freaking crush it and then quiet months. And before you know it, your revenue is like roller coasting up and down and eventually, eventually it just takes a toll on you. So that's when you should be considering my dad's advice. Multiple revenue streams. Want to introduce you to my friend, Charles Bird. Charles is a joint venture expert, a super connector at helping clients scale. By systematically getting in front of more ideal clients, leveraging other people's audiences, Charles System has enabled me to systematically land clients directly, receive referrals, get booked on physical or virtual stages. You're just going to love Charles. And what I want you to do is think about your business and the multiple revenue streams that you've yet to tap into. Charles Byrd is going to be with me in just a few moments. This podcast is brought to you by the Wirebuzz team. Now, if that name sounds familiar, it's because I've spent the past decade growing Wirebuzz into a digital marketing powerhouse designed to maximize clarity in complex sales processes so we can help accelerate revenue. And we do this in three phases. Phase one, we transform your website to function like your best salesperson and then also incorporate persuasive on demand sales videos. Now your entire team is aligned on messaging and they're injecting massive clarity into your prospect's head. So your site looks great, but it also has engaging content that helps your team sell on demand. 24. 7. The next phase. Phase two, we train your sales and marketing teams and to sell remotely or in person to expand the impact of your sales team. And the third phase is we develop and run targeted ads to your prospects. Scale those ads to help you achieve more business results. Sign up for the Wirebuzz Company newsletter to learn more about effective and simple ways to improve your company messaging, attract more digital attention, and ultimately make more sales. All right, all right. I'm joined right now by Charles Byrd, who empowers course creators, coaches and consultants to create dependable revenue through joint ventures. Charles, welcome to the ToddCast.

Thanks so much for having me, Todd. It's a pleasure to be here.

Yeah, always great to spend time with you. Hey, how did you get started? Like how did you become the guru of joint venture partnerships?

Well, I'll give a little backstory and then head straight into that. That journey. So I worked in the Silicon Valley for 15 years. I was a director at a billion dollar software company. I left to get a taste of the entrepreneurial freedom I read about in books. Starting with a low ticket productivity course and being new to the online space. I didn't yet have a list or connection, so started going to a lot of events and connecting with people online and quickly found my new peer group of entrepreneurs already had my ideal clients in their community. So I started setting up presentations to other people's audiences, delivering a high value training and offering the deeper dive course and started growing my list quickly, making sales, making a positive impact for the people I worked with. So I thought since this is working, what if I take my IT and systems background and simplify and systematize the entire joint venture process? Which I did. And eventually people wondered how I book two to six joint venture promotions per week, getting my offers in front of other people's audiences. And I was at a mastermind in Aspen. My phone's blowing up with texts and messenger messages and people knocking on the room door going how the hell do you do that? So I decided to put together my first high ticket event called Pure jv. Helping businesses scale with joint venture partnerships. And that's the market I've been serving ever since. Helping businesses create unique JV strategies, identify their most profitable partners, learn how to connect to those partners through warm channels. My favorite part, how to guide the conversations to land the deals in as little as 20 minutes and then operationally how to execute those deals along with turning each one into two or three more. And eight of my clients within a year of our work added 1.25 to 6 million in additional revenue. And it's just really cool because it's all based on building great long term relationships with people, which is very satisfying.

I can see that. Because you're not only helping people, but you're helping them connect to other people that need help. It becomes exponential, bro. Like you're an exponential freak. And that's super cool. Now for those that don't know, how would you describe a joint venture to somebody who for the first time is hearing this term?

Jv yeah, well, I recall my own perception of it when I was in corporate. And you think of like two companies merging and it feels like some big thing. But in the context of joint venture promotional partnerships, it's basically partnering to do a promotion. So I'll give an example. I'm sure you've heard of the author and speaker, Brian Tracy.

Of course.

Yeah. So he has an email list of around 500,000 people. And so in this context, imagine Brian inviting you to present to his community, his audience. So he's mailing his list of 500,000 people. They register for a training that you're putting on about video and sales, which is fully aligned with why people would follow him to begin with. You deliver a really high value training and then invite people into one of your programs. And then it's his audience, your product. So as sales come in, you share the revenue with Brian and his team. And of course you will get the rest of the revenue because it's your product and you're fulfilling on it. So that's just one example of a joint venture promotion. And you can really even think of referrals as joint ventures, because direct referrals, where people are handing you ideal clients through their network and then you're serving those folks at a high capacity. And just to be nice, you also send them some revenue for doing that. Everyone's coming out further ahead, those folks are getting served. You're being handed ideal client leads and you're serving them to get way better outcomes.

All right, so I just got started in this like a month ago, I think in the last couple of weeks I finished the trip training and I thought it was exceptional. Right. Like you developed a fan for life out of me. And just in the last couple of weeks, I think I'm this week will be my third joint venture. So I've done one every week since. And I already noticed one new revenue stream. My dad's proud of me. That's his advice, right? More revenue streams. And I also noticed that a new swagger started up in the company where people were like, okay, cool, we've got these existing revenue streams. But now we've got this new one that Charles taught us and introduced us to people. And before I know it, now I'm just punching out new joint ventures every week to get more eyeballs in front of my training so I could impact more people's lives. Aren't there like four types of joint ventures? Could you explain the different ones?

Sure. And by the way, I love hearing that. I'm so excited to see you applying this and getting in front of new audiences and growing who you're able to serve and reach, not to mention your revenue. So congrats. So I see basically four main JV types. Number one is presenting to other people's audiences. And in general, if you have a lower cost or lower ticket product, you want to do broad promotions. These could be things like webinars. That example I gave about Brian Tracy would be a great example. Then if you have higher ticket offers, you can be presenting to higher level groups. So these would be things like mastermind groups or inside of other people's high ticket programs coming in to provide value in those kind of groups. So that's type one presenting to other people's audiences. Type two are referral partnerships. Referrals are phenomenal, not just from your client base, but from your peer group as well. It's not uncommon for me to get 12 to 20 intros to million dollar plus businesses every week. And we track all of these and we show our clients how to do that as well. Then there's one of my favorite things. They're called embedded partnerships. This is where as other people make sales of their product, your product is included in it. In fact, just this morning a partner of mine is wiring me money because she's a book publisher and we have an embedded partnership, which means my offer is inside of her offer. So she sold a 50k book publishing program and that's handing me a client without doing a sales call or lead.

Gen. That's pretty beautiful, right? But is there in that embedded type of partnership, is that a more complex deal than just presenting in front of their audience?

I would say so. And the way I like to do those, not that it's a hard and fast rule, but usually I would do a promotional partnership first presenting to their group to just make sure it it lands and resonates and gets people excited on board and on board. Because then you're proving that there is a good alignment in a one off kind of promotion. And then once you prove that's the case, you love working with them, their audience eats up what you have, you're able to provide a lot of value, then you can go, cool. How do we go deeper with this? And that's where you can explore the embedded partnerships. So they can be not overly complex to set up, but I dissuade people from putting the time in to engineer one before you know it's actually going to be a good fit.

Okay.

Yeah.

There's easier ways to start dating at the beginning, and I think there's a fourth one. Is that right?

That's right. These would be social JVs. That would be things like doing podcast interviews or other social media type of interviews where it's low overhead to get up and going. Like, you could do a Facebook Live or Instagram Live or go on someone's podcast or show like that. And not only does that get you more exposure, but it really helps you build great relationships with the people you're doing the interviews with. And all kinds of other opportunities come out of. Of those. It's. You likely have a similar experience. Where most shows I go on, or at least a nice chunk of them, the person interviewing me becomes a client because of that conversation, or they'll. Because I guide them into it, they'll invite me to do a joint venture to their audience. So it's not just the exposure you would get to their audience. It's really more about building a great relationship with that host.

So for the listener, please notice that Charles just dropped an interesting piece of info there. He said, I guide them into the joint venture conversation. Now, I know from going through the training that I'm now equipped to guide people through the joint venture conversation. And so I was reluctant at the beginning, a little scared. It was my first time doing it, and once I learned the strategy, then it became really kind of strategic and easy. Charles, I noticed from working with you that, like, part of your excitement is seeing your clients win. And I get this, too. Like, one of the joys I get is the, you know, random note throughout the week from somebody who went through the training, and they're telling me how it paid off in spades. What does this feel like for you when somebody like me comes back and was like, dude, I just made 100 grand on a JV and I'm like, one week in. How does that make you feel, bro?

Oh, Cloud nine all the way. It's like the best feeling ever, because here's why someone connected us. You had the trust to invest your time and money, right? And then you get exactly what you paid for. And.

And then.

And this is Just the beginning. Like, these will just keep ramping up. And so it's just very gratifying. Someone shares their. Their trust, time and money with you, and then next thing you know, they're like, oh, my God. That was like a phenomenal thing to put time and effort into. Yeah, yeah. It's like watching. Well, silly example, but it's like watching your kids grow up to be successful. You're like, I did it. Like, it's awesome.

Right? They're not in jail. I did it. Right. And then. Okay, so you have a systems background. I don't, but you taught me my. Your system, and now it's my system. And I'm learning this and I'm close to then hiring somebody that I'm going to train that's going to do what I'm doing right now, which is scheduling my weekly joint venture. So I've got it now on rinse and repeat. I mean, that's part of it for a lot of people. Right. Because I want to get back to my core business, but I've got to get this business up and running. And from what I've already seen in the first, like, three weeks, this is a really simple, replicatable pattern that I can now train somebody else to execute for me. Is that how you see it?

Yeah. So most businesses that are a million plus a founder like you, you've developed so many great relationships, you're in different groups. I know your work with Tony gets you in front of all kinds of phenomenal people. And so we show clients, just as we did with you, how to take those great relationships and tee up deals that your team can then run with. So most of my clients, certainly not all of them, have JV managers. And basically, that's someone in the role of taking these connections and lining up deals. And to your point, once you have the framework, you just keep doing it over and over and over. And so you're not reinventing the wheel, you're not zigzagging, you're just going straight, lining these up. There's really nothing stopping you from doing several a week.

I agree. And. And it doesn't feel icky to me because so far I'm really just talking to people that already know love and trust me, I mean, sure, there's been new people that have come into my ecosystem, but I haven't even begun to scratch the surface of people I have relationships with that have audience that could benefit from my training, and I might have a year's worth of joint venture partnerships that I could easily execute. Before I have to roll up my sleeves and get more clever.

Well, I love it that you say that. And that's a lovely Runway too. So get this. If you have a year's worth, you kind of have an infinity's worth, because you can.

Oh, I gotcha.

Yeah. You can continue rebooking with these same partners. The. The ones that. It's just connecting their people love it. Everyone's winning, you rebook and. And you do that intentionally. Not to mention continually getting connections and intros to some of their best clients and partners. So it. It's a self replicating system. And that's what's also very fun about it. It's not like you do one of these and then wait around hoping for another. They literally self replicate because of how we design this. It. You're rebooking with them, you're getting connected to their best partners and clients as well.

Charles, it's pretty cool. All right, so, like, there isn't a college course for this, right? There isn't a. This wasn't anything that my dad taught me when we were driving in the car and he was telling me about multiple revenue streams. So you kind of had to develop it and then learn from people who've already trailblazed and then package it. Some people probably think that it's a little cheap to not develop something. Instead, they cut the line and learn how to do it faster. I mean, I think it's really cool that I just cut the line and instead of learning this on my own, I went to the. The big baller of the JV topic and he taught me. And now I'm on the accelerated path to revenue. And that, to me, is really cool because, dude, I used to be. I would call it smart frugal, where I'm like, oh, I'll just figure this out on my own. I'm a smart guy. Like, I can Google it or I'll listen to Charles's podcast and it all kind of osmosis ly get into my head. But that I realized wasn't that's not smart frugal. That was stupid frugal. Because it was the slow path, right?

Yeah. So I'll frame it up two ways. I. I was the same way. Like, coming into entrepreneurship, I was quite new to all of it. So even though I'd been running big things in corporate America, when you're running your own thing yourself, it's a very different game. And I did invest in a lot of different programs and things, but it would be like, I'll Just get the training, and I'll figure it out myself. Or I'll just try to figure it out from the book. And then you really realize, what are the best people do? They hire the best people. They get it done in as short a time as possible and immediately start getting those results instead of, like, getting 20 or 30 or 40% of it figured out. But they're still missing out on massive opportunities left and right. It turns out, being cheap is expensive. Yes, because to do it right the first time and get phenomenal results out of the gate versus bumping your head into different walls here and there. Like, in your case, you only have to make so many sales to make this well beyond worth your while. So it's a matter of how is your time best spent? And I'm with you. I just go to anything I want to learn. I go to the very best in the world I can find and hire them to show me how it did.

Then, yeah, I learned this from Tony Robbins. I literally heard him say that you've got more money than time, and you just don't realize it. And once I thought about it, I was like, no, no. First I put in my head, I was pushing back, and I was like, no, I've got more time than money. I'll figure it out. But what I realized is the people that were sitting around me that were crushing revenue were the ones that realized that it was cheaper and faster to hire somebody to learn it now than to waste 18 months, because there's only so many 18 months left in all of our hourglasses. And so what I'm doing now, dude, is like, I'm doing a live sales event, a joint venture. Every Wednesday. This one. This week's gonna be. Is Thursday, but every Wednesday. And then starting on Thursday is the promotion for the next one.

Nice.

And it's working so far. It's working pretty well. And my chief financial officer's thrilled with me because I'm, you know, bringing in an additional stream of revenue. Charles, where do people go? Like, where does somebody go that wants to learn more about joint ventures and your system that enables you to. Enables people to develop these different types of joint ventures and grow their business?

Sure. Well, an easy place to go would be charlesbird.com and Byrd is spelled by R D. So there's. There's more info there on the different JV types, how we work with folks, things like that. But I just want to reiterate to people a lot. Like, I just did this JV workshop in Panama for 56 doctors. One of my clients, who I helped add 1.25 million, asked me to fly out and deliver this workshop. And for many of those doctors, they've either not heard of this or even if they've heard of it, it feels like a black box. It's like, well, that's sounds cool, but since I have no clue how you would go about it, that's probably not for me. Whereas, as you know, as a friend and client who's actually walked through this, it's a learnable system. You basically just paint by numbers and get it implemented. And next thing you know, you're not just dependent on paid ads. You're diversifying your lead flow. Each new partnership represents independent lead flow. So if something went south with two of your lead sources, you're like, well, good thing I have 12 more, right? Because it's spreading that out. So, yeah, if people pop over to charlesburg.com, there's a analogy I like to use in my slide deck. There's these huge cliffs somewhere in China and they just go up forever. And like, the analogy is, I coming into the space, I climb those cliffs to figure this out, and then I switch to the next slide and there's an elevator to the top. I'm like, you can climb this by hand, or you can just step in, press the button, and go straight to the top. Like, whatever you feel is best for you, right?

Well, I'm interested in the fast path. I know my audience is their devoted to getting results in their lifetime. And that often means finding somebody who can help them. He's Charles Byrd. He's an incredible resource for joint ventures. He's helped me. I bring him here because I'm pretty sure he can help you too, to be able to find a joint venture program that'll work for you inside your business. So you too can execute off of my dad's advice and get multiple streams. He's Charles Bird. Now, I want to just make it very clear that when you go to charlesburg.com, his last name is B Y R D. Okay, so you get that, right? You get right to his website. Learn information. Charles, thank you so much for joining me on the Toddcast.

It's my pleasure, Todd. Thanks for having me.

Yo, that was a powerful episode. And from what we just learned, it should be obvious how you can now implement these lessons in your life to get to the next level. Now, before you bounce, I just have three quick thoughts. First, thank you for taking me on your incredible life journey. Second, if you receive some value from me and you want to pay it forward. It would mean the world to me if you left an honest rating and review at Apple Podcasts, Spotify or wherever you listen. I'd be incredibly grateful. And lastly, if you share this episode, whether it be a screenshot or a photo from where you're listening, anything via Instagram stories or LinkedIn, Facebook or any of the social media sites, just tag me and the guest. I'll repost your content and I'll reply back in the comments because I love mixing it up. In fact, I'd love to share your shoutouts in my feed too. Not only are these shout outs really good for you and for me, but they also help us book more amazing guests because they'll be able to see the reach that you're helping to cultivate. This is a way for you to help contribute to the show. So thank you again for listening and I look forward to earning a regular spot inside that ear of yours. Let's grow.