Creating Extra Income Streams For Your Business

Sep 13 • Business • 383 Views • Comments Off on Creating Extra Income Streams For Your Business

Do you remember the days when you could be happy in knowing that your business is turning over a profit? When all you had to do was put in the hours and you were guaranteed a way of life. Well unfortunately, those glory days of business are gone and now you have to be moving forwards if you want to avoid slipping backwards. Most businesses have to be canny and cunning and find extra income streams for themselves, have you considered this?

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Starting A Blog
The whole world is online now, and if you’re not then you’re falling behind. Not just with the times, but with the trends in business. A successful online blog can expect to see thousands of unique visitors trawl through its contents every month, and if you can build up a following you could stand to make some serious money through advertising. Imagine that you’re a power tool store and you’re getting 10,000 visitors per month. How much do you think a local timber merchant or a decorating shop would pay you to have a small banner on your site per month? More than you’d think, and the glorious thing about this income is that it costs nothing to set up and maintain.

Taxicab Freephone
If you operate a physical business at street level, consider talking to your local taxi companies and see if they would like to install free phones hard wired to their offices at your premises. This costs you nothing, but you have the potential to earn commission from the taxi company for every successful call they get made from that phone. This will be more successful if you’re running a supermarket or a store which will require transport for the customer, but there’s nothing to stop you from putting one of these systems in the foyer of your accountancy firm.

Teaching and Consulting
Anybody who owns a business is inherently good at what they do. It might be a niche market and you might think that nobody wants to know about it, but chances are that they do. Consider getting in touch with local colleges and schools and see if they are willing to run evening classes. You might find it difficult to see an income from these classes directly, but by interacting with your local customer base you’ll find that more people will be willing to come to your business if they know that you’re the kind of person willing to impart your knowledge and skills. More footfall inevitably means more revenue. If you really don’t have a particular skill, consider business coaching. You’re running a business, you know business!

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The amount of people looking to carve out a living by themselves has sky rocketed in recent years. Business owners are having to become increasingly more innovative to find an edge over their competitors. Think outside the box, what can you offer that nobody else can? And more importantly, how can you turn that into money?

This article is brought to you by Transport Innovation, the experts in feephone taxis throughout the UK.

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