213: The 7 Revenue Streams Hiding in Your Business Right Now with Katrena Friel
Heartbeat For Hire with Lyndsay DowdShow Notes
Katrena Friel is an internationally recognized Business Mentor known for her transformative approach to leadership and entrepreneurship. With over 25 years of experience, Katrena empowers entrepreneurs and leaders to master their unique Field of Excellence. Her clients range from ambitious startups to seasoned professionals, all seeking to elevate their influence and success.
As an award-winning author and TEDx speaker, Katrena's mission is to help individuals unlock their full potential and create thriving, future-proof businesses. Her innovative "Done for You Program" turns dreams into reality within 90 days, leveraging seven distinct streams of income to build a sustainable business ecosystem.
Connect with Katrena Friel:
Email: [email protected] Phone: +61 412 537 053 Website: www.becomingtheexpert.com.au LinkedIn: @katrenafriel
Episode Summary:
Lyndsay Dowd sits down with Katrena Friel, a business mentor with over 25 years of coaching and leadership experience, TEDx speaker, and award-winning author, to unpack why most entrepreneurs are sitting on income streams they've never touched. Katrena shares the painful $30,000 lesson that launched her coaching career, then breaks down her framework for building seven (really eight) streams of revenue from expertise people already have — from books and speaking to training, coaching, mentoring, facilitating, consulting, and franchising. She also walks through her 90-day "done for you" program that turns an idea into a full business ecosystem, describes her ideal client, and closes with advice on thinking bigger about what a fulfilling business and life can look like.
Key Takeaways:
- Most experienced professionals already have enough knowledge to build multiple income streams — they just don't know it. - A costly mistake or bad experience can become the turning point that pushes you toward your real path. - A personal brand isn't just being an influencer — it's a business built around your expertise. - There are seven (plus a bonus eighth) income streams available to experts: book/e-book, speaking (paid and unpaid), training, coaching, mentoring, facilitating, consulting, and franchising. - Writing a book builds credibility and positions you as an expert, even if it isn't a major revenue source on its own.
Episode Chapters:
00:00 Episode teaser: 3 things you'll learn 00:47 Guest introduction: Meet Katrena Friel 01:54 Katrena's background and path from corporate 02:52 The $30,000 lesson: a bad coach and a turning point 07:00 Why entrepreneurs are leaving money on the table 08:56 Client example: building the Virtual Assistant Institute 12:22 The seven streams of income, explained 12:27 Stream 1: Book / e-book 13:41 Stream 2: Speaking (paid and non-paid) 14:30 Stream 3: Training 14:53 Streams 4–6: Coaching, mentoring, facilitating, consulting 15:48 Bonus stream 8: Franchising 16:28 The power of a side hustle (a college grad's story) 18:09 Inside the 90-day program 21:17 Two types of clients: corporate-safe vs. all-in 23:01 Sponsor break 23:44 What inspires Katrena 24:41 Who is the ideal client? 26:01 Three types of clients: done-for-you, hybrid, and DIY 27:38 Katrena's legacy and definition of freedom 28:35 What's next: the Business Mentor Institute 29:14 Where to find Katrena 29:36 Final takeaway for listeners
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