Submitted by Melissa Wildstein on | 0 Comments
If you can start your business, come up with a great offering and find a group of customers who will buy what you’re selling – you’re doing great. You’re an entrepreneur. You’re your own boss. Congratulations!
But what’s the next step? How can you take your business to the next level? Here are four strategies that you can use to build multiple streams of revenue by using different marketing channels, by creating different product/service offerings and by rethinking the business that you’re in.
CORE Create Once. Replicate Everywhere: Take your current offering and find ways to replicate that in multiple places. Find as many additional marketing channels (that make sense and are inline with your brand obviously) as you can and place your product / service there.
Break it down: Does your current offering have multiple parts? Do you provide both a product and a service? Is there a way to break those two offerings apart and sell them separately? Would someone want to buy one without the other?
Rethink your specialty: We all have learned something that other people might benefit from. Figure out what ‘lessons’ you’ve learned and find a way to package and sell those. Are you a stylist who does a ton of video productions – would you actually call yourself a video guru? Could you teach other people how to make videos? What works and what doesn’t?
Do you have an email list? A core group of customers/clients? Do you have a huge following on Facebook, Twitter or YouTube? Could you take advertisers or make sponsorships available?
By utilizing these four strategies (or any one or two of them for that matter), you can start to outline additional opportunities for your business and maximize your revenue streams.
For more on additional revenue streams, check out our upcoming Q&A Live: Generating Multiple Streams of Revenue with Business Coach, Melissa Wildstein
