More Outlets Mean More Money

More Outlets Mean More Money

When most people start a business, the focus is entirely upon the specific type of service or product that the company offers. If your business is a widget maker, then by gosh, that’s what you are going to do. You are just going to make widgets, and you are going to get mighty good at it. However, you might find that you are missing some good opportunities in other areas, where you can expand your little widget empire and find ways to make some more money. It does not mean that you have to give up on or change your widget making strategy. It just means that you have to add to it. Here are some examples of how you might be able to do that.

Other, Similar Products

The first and most natural thing that you are likely going to want to do is look into exploring other types of similar items. If you are making handbags or purses currently, then you might want to look into expanding your line to include wallets. It’s a simple way to add some more revenue outlets to your business, but it is certainly not the only method. In fact, it might not even be the best method.

Write About It

Something else that you might want to try is writing about your business. If you are a candle maker, then you could write a couple of simple tutorials and post them online as a form of promotion to drive more traffic back to your site, where you sell those candles. You could also go more in depth and create a book in both print and digital, which you could sell online and offline. Depending on the types of business that you are in and your niche, you may even want to look into getting a publisher rather than self-publishing.

You will be able to make money each time your book sells, and you will be able to get more people interested in your company and your business. This can, in turn, lead to the next way that you can make money.

Speaking Engagements

Whether you are holding a class or giving a lecture at a convention, it is possible to earn a fine living as a speaker. No matter what your area of expertise, there is a good chance that you can find other people who not only want to listen to you but who will also pay to listen to you. Even better, you can sell your book at those speaking engagements.

You can find quite a few other outlets to make more money. What are some of the avenues that you are choosing to use and how successful have they been?

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  • Paul Humphreys
    Posted at 10:52h, 16 October Reply

    The similar product way to grow business has worked well for us – We teach and serve businesses about their bookkeeping, and in the last 2 years have expanded into self-managed super administration – both have afforded opportunities to the clients of each service, and we now have clients for bookkeeping training, and/or we do their books as well as manage their self-managed super funds!

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