5 Ways your business can make money!!!

5 Ways your business can make more money

The key to successfully increasing your business income is to be sure the cost of diversifying isn’t making your profits negligible or nonexistent. All of the ideas below are ways your business can make money without spending a lot of money to do it.

How to make more money:

1)   Rent out part of your business premises.

If you own or lease physical business premises, do you really need all of your current space? If not, you can make more by renting out the space to another business.

2)   Package services as products.

 If your business primarily involves selling services, you can make more money by packaging your services as products rather than charging clients an hourly rate.

3)   Shift your sales focus

Shifting your sales to focus to your current customers rather than attracting new customers makes excellent economic sense because your current customers are already converted prospects. They know your company and your products and are easier to sell to.

4)   Lend out your employees

Do you have talented, marketable people working for you? Then maybe you could sub-contract them to other businesses. For instance, if you have exceptional managers, you could hire them out to other enterprises to run exercises in team-building and management skills.

5)   Add value-added services or products

A carpet cleaner selling bottles of spot remover. A store selling kitchenware offering cooking lessons. These are all examples of adding value-added products that customers and clients might be willing to pay money for.

Can you think of any other ideas that would help small businesses make more money without spending it?