Creating Multiple Streams Of Income Into Your Business
If you are a small business owner then you are probably familiar with this reality: Chasing customers. Also known as - Living from client to client.
Is this the ideal way to run a business?
About a year ago I met with a very successful entrepreneur in Jerusalem. I shared with him my frustration on running a small business and the annoying aspect of chasing customers. He told me something that gave me a whole new outlook on my business. He said that most small business owners don't view their business as a hub. This means that they don't look at ALL of the options on how they can generate income from their business. They go in offering just a service and they can't see anything beyond that.
His advice was to view your business as a hub and from this hub many legs are coming out. One leg is your service another leg are your seminars, another leg are your products etc... this way you are creating multiple streams of income into your business.
By creating multiple streams of income - this will help you to create leverage in your business and we all know that leverage is the only way to create wealth.