This week we are continuing our information on thinking outside the box to make more money in your business. For the first hack, please go HERE.
The Problem: Often entrepreneurs have great things to sell and no one to buy them.
The Answer: Hack #2 Borrowing An Audience
A wonderful strategic partnership is when two entrepreneurs have an agreement where one lends its platform and audience to the other entrepreneur in need of clients to sell to. Again, the basis of the partnership should be mutually beneficial; the business borrowing the audience, should be offering something needed by and of value to that audience.
The Problem: Inconsistent revenue from clients that are individuals
The Answer: Hack #3 Business-to-Business (B2B)
It’s a no-brainer that you eat longer on a bigger fish than you do on a smaller fish. To do less fishing (grinding to find clients), you have to set the bait for the bigger fish (larger clients) to eat more (have more revenue). If you have a product or service for individuals, figure out how to scale that product or service to offer to other businesses or bigger businesses. For example, instead of only offering my tax preparation service to a single entrepreneur, I can hold a class to tax other tax preparers how to make more money in their tax business. The latter has a higher price point and my business would make more revenue on that B2B service.