Having an external source of income in your business.

[CALVINDOL]

Sometimes it is not totally advisable for a business owner to only do well on the physical selling and rendering of goods and services to customers and clients who possibly patronizes his business in a particular day , week or month . But rather it is advisable for a business owner to widening out his marketing strategy so that he or she can get business revenue and income from more than one source and that is absolutely necessary for a business owner who is currently facing the problem of having competitors in business . This is totally true because having competitors in business simply means that you would not be the only one to have all the customers and client to yourselves but rather from time to time you would have to split some to your various competitors that is why in situations like this it is advised that a business owner not only do well on the physical selling of goods and services to customers and clients and possibly have an external source of revenue and funds to his or her business .

There are a whole lot of ways of creating external income to your business and thanks to God that the internet has absolutely come into existence for people to monetize the use of internet website to showcase their business goods and services to members and two others living in different regions and countries of the world . You can possibly choose to rent a website or build your own website for the purpose of showcasing the business goods and services to potential customer and client all around the world .

 

[TOZZIBLINKZ]

Sometimes for a business to dwell on only one source of getting business revenue could sometimes be daunting and totally an advice because there are some things that a businessman totally encounter that shortens the ability for it to make efficient and sufficient business income as expected and as planned so in order to avoid this it is definitely important that a business owner or manager acknowledges the reason for him or her to have an external source of revenue to his or her business and not only dwelling on the physical selling and rendering of business groups and services to customers and clients .

It is indeed a good thing that the internet has made in provision majority of websites or personal website creation for majority of offline businesses to successfully monetize and display their various business groups and services online in order to meet potential customers and clients who are worthy of making a buy or an order of the goods and services being displayed . As a business owner you must understand that the ability for your business goods and services to be bought buy a potential customer and client online totally depends on how attractive and professional there seems to be .

 

[Shaf]

I like the idea of having a website, a blog or vlog as an external source of revenue for your business. You can use such itself as a business, sharing information for a token with others, or using it as a tactic to promote the business.

You can also use it as a way to interact with them, keeping them updated about new products and knowing what to improve to serve them better.

Having an external source of revenue for your business will not only be beneficial to the business only, but also to you as an individual. Such funds can serve as income for you for personal expenses.

However, such should not affect the running of your main business, as this will defeat the original intention. Hence a business that gives you passive income would be great as an external source of revenue for your business.