Sources of revenue
What is the similarity & difference between revenue & oxygen? Like how oxygen is essential for your breath, revenue is essential for your business, as without revenue, your business will tend to die. The difference is you can have multiple streams of revenue!
Considering the VUCA world we live in, what are you doing to maximize your revenue?
Some thoughts on the possibilities of increasing your revenue-
- How about expanding the number of customers or expanding geographies for your business?
- Have you thought of supplementing with alternate revenue streams like interest income, rental income, dividend income, investment income & so on?
- Have you adopted simple steps such a recharging your clients for expenses incurred on their behalf, having a sweep facility with your bankers, ensuring there are no revenue leakages, investing extra cash in liquid funds or fixed deposit and such other alternatives?
For more such nuggets refer to the book “What The Finance” available on Amazon and other online portals
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