You’re going to want to boost income if your income from your business, small business, or home business is less income that you were hoping for or is less income than what you need. You can try boost income by offering related services or selling related products even if the income you want to boost is just income from a way in which you earn extra income from home.
You may be able to offer a related service to the service or services you already offer, and you may be able to sell a related product to the product or products you already sell.
You may also be able to start offering a service related to the products you sell, or you may be able to start selling a product related to the services you offer.
Think about it. Your work is slow or your sales are slow, and you wish you were making more money from your products or services; that you had more customers or clients. From time to time people use your services or buy your products. Then those same people also go to another service provider or seller to use their related services or buy their related products. Other people who you don’t even ever deal with also use related services or buy related products elsewhere.
If you start offering more services or selling more products, this may be the outcome (fictitious example only):
OLD WAY:
Selling 20 x R300 products or services (product or service A) in a month = R6 000.
VERSUS
NEW WAY:
A)
Selling 10 x R300 of your usual products or services (product or service A)
in a month = R3 000.
(less than usual because of your potential clients or customers now having more products or services to choose from)
AND
B)
Selling 10 x R100 of your new products or services (product or service B) = R1 000.
Selling 10 x R200 of your new products or services (product or service C) = R2 000.
Selling 10 x R400 of your new products or services (product or service D) = R4 000.
Now you’re earning R10 000 per month instead of R6 000 per month. You have managed to boost your income.
IMPORTANT DISCLAIMER and FURTHER NOTES: This example above is just an example. Introducing new products or services into your little (or large) business may not work to boost income, and you will still need to take into consideration the costs of your new services or products, and the costs of marketing your new services or products. On the other hand, if you want or need to boost income, why not attempt to introduce related services or related products into your business? At least the new services or new products will already be something you are slightly familiar with, eliminating you having to learn about something totally new in order to try and boost your income.
© Copyright Teresa Schultz 2014
