There’s no getting away from the fact that even the most successful of businesses are subjected to different cycles. Things are not always going to sail along smoothly and you won’t always be raking in the profit in a manner which is directly proportional to the patronage of your business.
That’s why the most seasoned of business operators know to put some money aside for the rainy days which are inevitably to come, but the savviest of these business operators know that it’s not only about having a financial safety net that exists as a pile of cash.
They have structures in place to boost revenue when the need to so inevitably arises, but they don’t necessarily anticipate the boost to occur immediately upon the implementation of the following basic revenue-boosters:
Profile your business
Profiling your business can boost revenue in one or both of two ways, namely instantly bringing in more customers and sales as a result of the awareness created; and the second way requires a bit more involvement on your part because it wills you to take advantage of advertising revenue generated through media.
So the first way mentioned is straight forward, but sometimes the sales can come sometime after the actual profiling of your business. The second way involves something like creating a YouTube channel perhaps, on which you’d be showcasing what your offering is all about, but the best way to do this is to publish content which interests viewers in a way that demonstrates your authority in the market you’re active in.
You then obviously monetise through the integrated ad-revenue splitting programme…
So business profiling is basically just getting your business featured on some kind of show or publication, just to clarify exactly what it is. If you go the YouTube channel route then you’re taking it upon yourself to profile your own business instead of say agreeing to get featured in an article in a business magazine or on a business show that airs on TV.
Participate in studies and surveys
Big data companies will pay some good money to gain access to your staff as part of running some kind o study. There are all manner of themes and topics for the studies, such as workplace satisfaction, personal lives, etc.
All they really want is for the participants to answer some questions, most likely in questionnaire format, and the compensation structure is generally very handsome in that they make it worth your while beyond covering the would-be costs per hour each of your participating employees would be earning you were they at their cubicle.
Explore new marketing channels
This method of boosting revenue is a little more conventional, but I had to mention it because it can often be overlooked, whereas sometimes it’s all it takes to give your income that much-needed shot in the arm.
Go an exhibit at a trade show, for instance, setting up a stall with your branding and stationing a consultant who can perhaps sign off on special promotional deals, or you can simply explore marketing channels such as running competitions and giveaways.