Building Multiple Revenue Streams In Your Business:
Starting a business can be very costly upfront, but creating some streams of passive income can help in securing both your personal and business overhead. Brainstorming ideas that are closely related to skills, gifts and abilities that you already have or that are already connected to your business or industry can be the perfect place to start about creating additional revenue streams in your business.
Think about what you're already doing and what resources you have access to. Consider some of the ideas below that can help add additional revenue to your business or personal income.
Case Example: You're the owner of a business that sells fresh pies. Here are a few ideas that could bring multiple revenues.
-Write an e-book to sell online - teaching pie making
- Online webinars - teaching the art of baking pies
- Subscription box - surprise mini pie of the month
- Print on demand Merchandise - Tees, bags and merchandise with your brand
- Speaking & In person workshops on pie making
- Mini pie Vending machine
- Now ask yourself, how many ways can I expand on my business or idea to add layers of new revenue? What can you up-sell to build more revenue streams into your business?