The decision to offer consulting as a means of leveraging the company's experience and expertise "has definitely been worth it. It has helped build this business. It brings in small jobs, but sometimes the small jobs lead to much bigger ones."
Monday 17 April 2017
WAYS OF GENERATING REVENUE
Have you ever heard the term "nontraditional revenue"? If you're not immersed in radio and TV ad sales, you're most likely not familiar with that industry buzz phrase, more commonly referred to as NTR. But the concept, when applied to your business, can add bottom-line income to your existing revenue streams.
2 TO 5 YEARS, ITS TIME TO GROW
After your first year, re-read the business plan you started with. One reason to review it now is to update and, if necessary, revise your goals or schedules. Re-reading your business plan also re-acquaints you with the goals you had in the beginning but may have lost touch with during the hectic startup days. Fix these goals in mind as you enter years two through five.
WORD OF MOUTH
There is no better form of advertising than word of mouth (a personal referral from someone whose opinions others trust and respect). Small business owners are among the biggest beneficiaries of word of mouth referrals, as they require no advertising and marketing budget.
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