Creating products is one of the best ways to ensure an alternative revenue stream. And the quickest, cheapest and easiest way to do it is by teaming up with someone else. Two heads are better than one, the saying goes. So are two checkbooks when you need an up-front investment of money to get your new product off the ground. My collection of more than 50 products would never have been possible had I not collaborated with many other professional speakers like myself. Some of my partners in those projects included my competitors. More about that later.

You can cross-promote each other's services. If your partner's clients need a service you offer but your client doesn't, it can mean more business for you, and vice-versa.

After the product has been on the market for awhile, you'll start to get invitations for paid speaking engagements. If your calendar is full, you can refer the request to your product partner, and vice-versa.

For more about the benefits of a partnership, see Special Report #41.