It seems like everyone is adding a community or membership to their product lineup these days. It’s a great idea for three reasons: it diversifies your revenue stream, allows you to be in direct conversation with your customers, and scales pretty easily.

But is adding a community right for YOUR business?

And what makes a good community anyway?

And how might a community reduce your risk as an entrepreneur?

We've been talking about how you can manage risk and build resilience into your business all this month. And one of the ways to make your business less risky is to build in more than one way you make money by adding some additional revenue streams. If something happens to one of those sources, the other ones can float you for a while so you can figure out what to do next.

In the last episode, I talked to JoAnn Holmes about how to leverage your intellectual property to create additional revenue streams like courses, licensing, or books.

But harnessing your IP isn't the ONLY way you could add additional revenue or build resilience into your business.

Today, we're talking with Sophie Bujold about another option: building a community product around your business. Sophie is an entrepreneur and consultant with more than 18 years of experience in online community building, customer experience, and digital strategy. As the founder of Cliqueworthy, Sophie helps creative entrepreneurs gather with impact through outstanding online community experiences.

Listen to the full episode to hear: