In this tough economic scenario, diversifying your income source to generate more revenue is of the essence. The best and minimum risky way to catapult your business revenue is by making the right use of your assets and other resources. Here are some of the tips that can help you increase the influx of income for your business without investing much to execute it.
Switch your Sales Funnels It is one of the simplest ways to generate more money which is often ignored. You can convince your existing customers to buy more products and/or services. You need to switch your efforts and marketing initiatives to your existing customers than luring new customers as your existing customers are already converted long ago. Convincing them to purchase your products will be easy for you than convincing otherwise newer customers. Your existing customers are well aware of your company and your products and are simpler to sell to.
Rent Out Your Unused Business Premises In case you possess or have leased office space, are you using all of it? If you are using only part of it, you can earn a good amount by renting out the unused space of your business to another company looking out for rented space.
Often companies that have just started out require a cubical or corner only. Chances are you might have a vacant room that you can rent out to another company for their regular business activities or for use as a warehouse. In addition, you may also rent out your vacant or unused warehouse or deserted storage space for renting as people of urban locality gets the warehouse space for high rent. So they would be looking for some cheaper options.
この記事は Small Enterprise の May 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Small Enterprise の May 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
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We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.
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Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
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In the present economic situation, having knowledge of an academic subject is no longer sufficient for a new graduate. Students are increasingly required to have skills and abilities which will increase their employability, such as: the retrieval and handling of information; communication and presentation; planning and problem solving; and social development and interaction.
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The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
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