043: Adding Revenue Streams To Your Business

Sep 21, 2020

Is your business reliant on everything staying the same? It needs you, your expertise, and your presence. It needs the world to keep working the way it does. Perhaps it is reliant on one or two big clients.

This can put your business at risk if something goes down in your sector or industry, with a particular client you work with, or even within your own business. You are extremely vulnerable if you only do one thing.

Adding revenue streams to your business means adding a corresponding service, or maybe even a new service, to your business so that it either serves your existing client base more fully, or it allows you to broaden your reach.

Now is a great moment to be thinking this through because no matter what field you operate in, your business will be better off with more baskets. If you only have one service or one product, all your eggs are in that basket. We want to move away from that. This is about building resilience in your business.

This week’s podcast is all about adding revenue streams. I discuss:

• Spreading risk in uncertain times
• Spotting the situations that could mean a change for your business
• Knowing when there is a genuine opportunity for growth and expansion in your business
• Engaging and listening to your audience
• Whether you are looking for short-term or long-term revenue
• Why you need to think about the resources involved in setting up a new offer

 

Useful links:

Episode 040: Is It Really Possible To Work Less And Earn More In Your Consulting Business?

Episode 002: Ready To Scale

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