23 ways to generate revenue
If you own a small business, you should always be on the lookout for ways to grow sales. Whether you’re focused on marketing a product, groups of related products, or services of any kind, here are 23 ideas to generate more revenue:
- Sell a product one-by-one.
- Sell similar products packaged together.
- Sell a “license” to use your product for a defined time period.
- Sell a “subscription” to your product for a defined time period.
- Sell a flat weekly- or monthly-fee service.
- Sell relevant advertising space on your products, in your catalogs, or on your company vehicles.
- Sell digital information related to your industry or product for download.
- Sell products one-by-one, but on an automatic replenishment schedule.
- Sell some or all items on a minimum-purchase basis.
- Sell discounts to others’ products or services.
- Package your products or services with another company’s similar offerings.
- Sell someone else’s stuff.
- Sell refurbished or used versions of your products and services.
- Allow others to resell or co-market your products and services.
- Sell a disposable version of one of your products.
- Lease your product(s) for a defined time period.
- Sell time: bill by-the-hour for a service related to the products you sell.
- Sell your products in smaller packaged quantities (if typically 25/per…, sell 10/per at a higher profit margin).
- Sell your products in larger packaged quantities.
- Sell your products on your website.
- Sell your products on multiple, targeted websites focused on individual product groups and customer solutions.
- Sell access to a seminar where you educate customers about your industry and the solutions you provide.
- Sell training on your own or others’ products.
In this age of hypercompetitive markets, you’ve got to find a way to offer a product or service that can be easily distinguished from your competitors. What other ideas can you come up with for your business?