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Taking It To The Next Level

5 Jul, 2008  Home Business, Internet Marketing, Small Business, Work From Home, entrepreneur, outsourcing, virtual assistant

Are you satisfied with letting your business sit idle for a long period of time?  If you are like most businessmen or businesswomen, you are not!  Your dream is to continue to grow and reach a new level of success.  Now is the time to light a fire under your business’s success!

Have you heard the term “Multiple Streams of Income”?  Well, it is one way to get your business to grow because it works.  You may be able to run with a few products or services for a while, but then your business may stagnate.  With the introduction of new products or services your business will expand your bottom line.

The best example of this is Yahoo!  Yahoo! started in 1995 as a guide to the World Wide Web and in 1996 went public and now reaches 350+.  They offered their basic services for free and their revenues were generated from upgrades to premium services, advertising, alliances with other businesses and the introduction of new services.  There are many others like Yahoo!, for example Starbucks, eBay and Home Depot.  All of these started small and then offered multiple products or services, which gave them multiples streams income.

The question is, “How can you duplicate a fraction of the success that these companies have?”  First, you need to rework your business model.  To do that you need ask your self the following questions:

• What products or services do my customers want?
• What products or services will bring in new clients?
• What products or services do my competitors offer?
• How can I implement my new products or services?
• How will the new products or services affect my bottom line?

Here are ten ideas to consider:

1. Offer consulting services in your area of expertise. 
2. Add a new line of products.
3. Form an alliance with another business. 
4. Sell advertising space on your website or in your brochures/catalogs. 
5. Launch a second business that is complimentary to your primary business. 
6. Offer new services and outsource them to subcontractors.
7. Create a subscription-based offering such as a newsletter or mentor program. 
8. Create your own products for resale.
9. Train others to run a business likes yours. 
10. Publish books, e-books or other information products.

The introduction of a new product or service can increase your bottom line as well as boost exposure for your business.  You need to remember that a person needs to be exposed at least 8 times to a new product or service before they will want to buy it.  New methods of advertising and the potential to expand your business depend on products and services.

Virtually yours,
Linda Belan
Your Outsource Solutions, LLC
www.youroutsourcesolutions.com

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