Keeping a small enterprise afloat with a limited income is an unenviable challenge, yet it’s one faced by many businessmen and CEOs. The current commercial climate is highly competitive, and keeping the wheels turning whilst make a tidy profit is incredibly hard work.
This is why many entrepreneurs are beginning to look outside of the box, beyond traditional methods of increasing turnover. They’re turning to the many skills that their experiences have endowed them with, and putting them to good use in order to increase their incomes. If you’re one of their number and you’re looking for inspiration, here are three ideas that you might like to consider…
#1: Sell Your Products Online
Whilst almost every modern business will have an online presence, not all of them are utilising the internet to its full advantage. It’s not enough to have a website that’s clunky, hard to navigate, and only contains a limited selection of your stock. Rather, you need an online shop that’s easy to use, offers failsafe payment options, and details all of your products. Some good SEO will help this to rank more highly in a search engine, increasing your online traffic, whilst an attached eBay account is another great way to increase your audience and boost your sales.
#2: Share Your Skills
If product sales are as high as you can get them, then there are other ways to increase your income. A good place to start is by sharing the skills that experience and talent have endowed you with. You know how to run a business and keep it afloat, and these insights are something that many will pay for you to share. From public speaking to tutoring to teaching, you have an enviable skill set that you could use to benefit many, so why not charge for your services?
Wealth management has three distinct strands: financial planning, investment planning, and estate planning. Although usually handled and applied by financial and legal professionals, this is a methodology that you can transmute to your own life, starting with the second strand. Investments and trading can prove highly lucrative for those who handle them well, and your unique experiences will have gifted you with many transferable skills that could help you to ace the investment markets. With options as diverse as stock and shares, the foreign exchange, and commodities to trade, investing could offer an ideal means to line your pockets.
How will you choose to boost your income?